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GENERAL AWARENESS CAPSULE FOR SBI PO MAINS/LIC/RBI ASSISTANT/IBPS RRB and other Entrances.
BANKING AWARENESS CAPSULE
RBI Current Reserve Ratios and Policy Rates 1 Bank Rate 8.25% 2 Repo Rate 7.25% 3 Reverse Repo Rate 6.25% 4 CRR 4% 5 SLR 21.5% 6 MSF 8.25% The Structure of Indian Banking The structure of the Indian banking system can be categorized in two ways. The first divides the banks into three categories: the Reserve Bank of India, commercial banks and cooperative banks. The second divides the banks into two categories: scheduled banks and non- scheduled banks. In both of these systems of categorization, the Reserve Bank of India, or RBI, is at the center of the banking structure. It holds the reserve capital of all commercial and scheduled banks in the country. Scheduled Banks The eligibility criteria exist for scheduled banks: a.The first of which entails carrying on the business of banking in India. b.All scheduled banks must maintain a reserve capital of 5 lakhs rupees in the Reserve Bank of India. c.These are registered under the second schedule of RBI Act, 1934. Commericial Banks vs. Cooperative Banks Scheduled banks in India fall into two categories: commercial banks and cooperative banks. Commercial banks constitute those banks driven by RBI AND ITS ROLES profit. These banks exist for no other reason than RBI is the central Bank of India and controls the entire generating capital. Cooperative banks technically money issue, circulation the entire money issue, constitute cooperative institutions with an elected circulation and control by its monetary policies and managing committee, provisions for the protection of lending policies by periodical updates or corrections to members' rights and a set of communally developed discipline the economy. It is also known as the bank of and approved by laws and amendments. last resort. www.discussstudy.wordpress.com | | Page 1
Quick Fix TABLET www.discussstudy.wordpress.com Establishment: The reserve bank of India was established on April 1, 1935 in accordance with the order" is written on the face of the cheque, the cheque provisions of the Reserve Bank of India Act, 1934. The is called an order cheque. Such a cheque is payable to Central Office of the Reserve Bank of India was initially the person specified therein as the payee, or to any one established in Calcutta but was permanently moved to else to whom it is endorsed (transferred). Mumbai in 1937. Though originally privately owned, 3. since nationalization in 1949, the Reserve Bank is fully owned by the Government of India.
Main Functions 1. Monetary Authority: Formulate, implements and monitors the monetary policy. 2. Regulator and supervisor of the financial system: Prescribes broad parameters of banking operations within which the country‘s banking and financial system functions. 3. Manager of Foreign Exchange: Manages the Foreign Exchange Management Act, 1999. 4. Issuer of Currency: Issues and exchanges or destroys currency and coins not fit for circulations. 5. Development role: Performs a wide range of promotional functions to support national objectives. 6. Bankers to the Government: performs merchant banking function for the central and the state governments; also acts as their banker. 7. Bankers to banks: maintains banking accounts of all scheduled banks.
Cheque It is an instrument in writing containing an unconditional order, addressed to a banker, sign by the person who has deposited money with the banker, requiring him to pay on demand a certain sum of money only to or to the order of certain person or to the bearer of instrument."
Types of Cheque 1. Bearer Cheque or open Cheque When the words "or bearer" appearing on the face of the cheque are not cancelled, the cheque is called a bearer cheque. The bearer cheque is payable to the person specified therein or to any other else who presents it to the bank for payment.
2. Order Cheque When the word "bearer" appearing on the face of a cheque is cancelled and when in its place the word "or
Quick Fix TABLET www.discussstudy.wordpress.com Bhattacharya was the chairman of RBI. Under this CRR Rate instrument of credit regulation RBI as per the guideline Cash reserve Ratio (CRR) is the amount of cash funds authorizes the banks to advance loans to desired that the banks have to maintain with RBI. If RBI sectors decides to increase the percent of this, the available amount with the banks comes down. RBI is using this Open Market Operations:-An open market method (increase of CRR rate), to drain out the operation excessive money from the banks. is an instrument of monetary policy which involves buying or selling of government securities from or to the SLR Rate public and banks. SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain in the form of cash, Moral Suasion:-Moral Suasion is just as a request by or gold or government approved securities (Bonds) the RBI to the commercial banks to take so and so before providing credit to its customers. SLR is action and measures in so and so trend of the determined and maintained by the RBI in order to economy. RBI may request commercial banks not to control the expansion of bank credit. SLR is determined give loans for unproductive purpose which does not add as the percentage of total demand and time liabilities. to economic growth but increases inflation. Time Liabilities are the liabilities a commercial bank is liable to pay to the customers after a specific time Special Drawing Rights (SDRs):-It is a reserve period. SLR is used to control inflation and proper asset (known as ‗Paper Gold‘) created within the growth. Through SLR tuning, the money supply in the framework of the International Monetary Fund in an system can be controlled efficiently. attempt to increase international liquidity, and now forming a part of countries official forex reserves along Bank Rate with gold, reserve positions in the IMF and convertible Bank rate is the rate of interest which is levied on Long foreign currencies. Term loans and Advances taken by commercial banks ATM: ATMs are Automatic Teller Machines, which do from RBI. Changes in the bank rate are often used by the job of a teller in a bank through Computer Network. central banks to control the money supply. ATMs are located on the branch premises or off branch MSF Rate:-MSF (Marginal Standing Facility Rate) is the premises. ATMs are useful to dispense cash, receive rate at which banks can borrow overnight from RBI. cash, accept cheques, give balances in the accounts This was introduced in the monetary policy of RBI for and also give mini-statements to the customers. the year 2011-2012. Banks can borrow funds through Bouncing of a cheque : Where an account does not MSF when there is a considerable shortfall of liquidity. have sufficient balance to honour the cheque issued by This measure has been introduced by RBI to regulate the customer, the cheque is returned by the bank with short-term asset liability mismatches more effectively. the reason "funds insufficient" or "Exceeds Base Rate :-The Base Rate is the minimum interest arrangement". This is known as 'Bouncing of a cheque'. rate of a Bank below which it cannot lend, except for Demat Account: DRI advances, loans to bank's own employees and loan The term " demat", in India, refers to a dematerialised to banks' depositors against their own deposits. (i.e. cases allowed by RBI). account for individual Indian citizens to trade in listed stocks or debentures. Bridge Loan:- A loan made by a bank for a short period to make up for Endorsement: When a Negotiable Instrument a temporary shortage of cash. Bridge loan covers this contains, on the back of the instrument an period between the buying the new and disposing of the endorsement, signed by the holder or payee of an order old one. instrument, transferring the title to the other person, it is called endorsement. Credit Authorization Scheme:-Credit Merchant Banking : When a bank provides to a Authorization customer various types of financial services like Scheme was introduced in November, 1965 when P C
Quick Fix TABLET www.discussstudy.wordpress.com accepting bills arising out of trade, arranging and reliable and expeditious system of funds transfer and providing underwriting, new issues, providing advice, clearing in the banking sector throughout India, and to information or assistance on starting new business, relieve the stress on the existing paper-based funds acquisitions, mergers and foreign exchange. transfer and clearing system called National Electronic Funds Transfer System (NEFT System). Money Laundering The process of creating the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, originated from a legitimate source.
Mortgage: Transfer of an interest in specific immovable property for the purpose of offering a security for taking a loan or advance from another. It may be existing or future debt or performance of an agreement which may create monetary obligation for the transferor (mortgagor).
NABARD: National Bank for Agriculture & Rural Development was setup in 1982 under the Act of 1981. NABARD finances and regulates rural financing and also is responsible for development agriculture and rural RTGS: RTGS is an acronym that stands for Real Time industries. NABARD is an apex Development Bank that Gross Settlement. RTGS is a funds transfer system facilitates credit flow for promotion and development of where money is moved from one bank to another in agriculture, small-scale industries, cottage and village ‗real-time‘, and on gross basis. When using the banking industries, handicrafts and other rural crafts. method, RTGS is the fastest possible way to transfer GAAR: The full form of GAAR is : General Anti- money. ‗Real-time‘ means that the payment Avoidance Rules. Tax Avoidance is an area of concern transaction isn‘t subject to any waiting period. The across the world. The rules are framed in different transaction will be completed as soon as the processing countries to minimize such avoidance of tax. It is a set is done, and gross settlement means that the money of general rules enacted so as to check the tax transfer is completed on a one to one basis without avoidance. clustering with another transaction. This system is maintained by the RBI, and is available during working BPLR: In banking parlance, the BPLR means the days for a given number of hours. Banks using RTGS Benchmark Prime Lending Rate. However, with the need to have Core banking to be able to initiate RTGS introduction of Base Rate (explained below), BPLR has transactions. now lost its importance and is made applicable normally Money Market - The money market is a wholesale only on the loans which have been sanctioned before debt market for low-risk, highly-liquid, short-term the introduction of Base Rate (i.e. July 2010). instrument. Funds are available in this market for Prime Lending Rate (PLR): The rate at which banks periods ranging from a single day up to a year. This lend to their best (prime) customers. It is usually less market is dominated mostly by government, banks and than normal interest rate. financial institutions.
Wholesale Banking : Wholesale banking is different Capital Market - The capital market is designed to from Retail Banking as its focus is on providing for finance the long-term investments. The transactions financial needs of industry and institutional clients. taking place in this market will be for periods over a year. National Electronic Funds Transfer System (NEFT): RBI introduced an electronic funds transfer Forex Market - The Forex market deals with the system to facilitate an efficient, secure, economical, multicurrency requirements, which are met by the exchange of currencies. Depending on the exchange
Quick Fix TABLET www.discussstudy.wordpress.com rate that is applicable, the transfer of funds takes place stated period from the date of issue (14/91/182/364 in this market. days i.e. less than one
Financial Inclusion: Financial inclusion or inclusive financing is the delivery of financial services, at affordable costs, to sections of disadvantaged and low income segments of society.
Money Market Instruments:- The money market can be defined as a market for short-term money and financial assets that are near substitutes for money. The term short-term means generally a period upto one year and near substitutes to money is used to denote any financial asset which can be quickly converted into money with minimum transaction cost.
Some of the important money market instruments are briefly discussed below; 1. Call/Notice Money 2. Treasury Bills 3. Term Money 4. Certificate of Deposit 5. Commercial Papers
1. Call /Notice-Money Market:- 1.Call/Notice money is the money borrowed or lent on demand for a very short period. When money is borrowed or lent for a day, it is known as Call (Overnight) Money. Intervening holidays and/or Sunday are excluded for this purpose. Thus money, borrowed on a day and repaid on the next working day, (irrespective of the number of intervening holidays) is "Call Money".
Notice Money:- When money is borrowed or lent for more than a day and up to 14 days, it is "Notice Money". No collateral security is required to cover these transactions. 2. Inter-Bank Term Money:- Inter-bank market for deposits of maturity beyond 14 days is referred to as the term money market. The entry restrictions are the same as those for Call/Notice Money except that, as per existing regulations, the specified entities are not allowed to lend beyond 14 days.
3. Treasury Bills:-Treasury Bills are short term (up to one year) borrowing instruments of the union government. It is a promise by the Government to pay a stated sum after expiry of the
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(ATM or Debit Card), online account access or with a MONEY AND ITS TYPES telephone voice response system. Money is a thing that is usually accepted as payment for goods and services as well as for the repayment of Foreign Exchange Reserves:- debts. Money originated as commodity money, but Foreign-exchange almost all contemporary money systems are based on reserves currency central banks gold, special drawing concept of fiat money. rights International Monetary Fund (also called forex reserves or FX reserves) in a strict sense are 'only' • Commodity Money - Commodity money value is the foreign deposits and bonds held by and monetary derived from the commodity out of which it is made. authorities. However, the term in popular usage The commodity itself represents money, and the money commonly includes foreign exchange and (SDRs), and is the commodity. For instance, commodities that have (IMF) reserve positions. been used a Medium of exchange include gold, silver, copper, salt, peppercorns, rice, large stones, etc. NRI Banking:- Banks allow NRI‘s to open an NRI account when they complete the account opening • Representative Money - is money that includes formalities. A customer for this purchase a form has to token coins, or any other physical tokens like be filled up in which the information soughtly the bank certificates, that can be reliably exchanged for a fixed is provided. They can have a NRI Saving Bank Account, amount/quantity of a commodity like gold or silver. Current Account, Fixed Deposits in Indian Rupees, Fixed • Fiat Money - Fiat money, also known as fiat Deposits in foreign currency, NRO account (Rupee account for crediting income in India) currency is the money whose value is not derived from any intrinsic value or any guarantee that it can be Capital Adequacy Ratio (CAR):- Capital adequacy converted into valuable commodity (like gold). Instead, ratio measures the amount of a bank‘s capital it derives value only based On government order (fiat) expressed as a percentage of its credit exposure. • Commercial Bank Money - Commercial bank Globally, the capital adequacy ratio has been developed money or the demand deposits are claims against to ensure banks can absorb a reasonable level of losses financial institutions which can be used for purchasing before becoming insolvent. Indian banks are expected goods and services to maintain a minimum capital adequacy ratio of 9 per cent (Rs 9 as capital for every Rs 100 in loan or asset) Mutual Funds Mutual Fund is a company which collects the savings of Asset – Liability Mismatch:-In finance, an assets a large number of investors for investment purposes. liabilities asset–liability mismatch occurs when the Mutual Funds invest in capital markets like stocks and financial terms of an institution's and do not other securities. The professional fund manager selects correspond. appropriate securities based on company profile and Initial Public Offerings (IPOs): When a company market conditions for capital appreciation. opens to investments from the public by offering shares for the first time it is known as initial public offer.
Application Supported by Blocked Accounts (ASBA) ASBA is an investor friendly service introduced for subscribing to IPOs. Through this facility, the investor‘s funds remain in his account till allotment of shares. Then, the amount equivalent to the shares allotted is deducted from the blocked amount for remitting to the company issuing the shares and the balance amount is available to the investor. Non – Banking Financial Companies (NBFCs) Non Banking Financial Company (NBFC) is a company Follow on Public Offer (FPO) registered under the Companies Act 1956, and is When a listed company makes another public issue to raise further capital it is known as follow on public offer.
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NEGOTIABLE INSTRUMENTS DEFINITION OF NEGOTIABLE INSTRUMENT According to section 13 of the Negotiable Instruments Act, 1881, a negotiable instrument means ―promissory note, bill of exchange, or cheque, payable either to order or to bearer‖.
TYPES OF NEGOTIABLE INSTRUMENTS There are three types of negotiable instruments which are: 1. Promissory Note 2. Bill of Exchange 3. Cheques
1. Promissory Note: A Promissory Note is a written promise by the debtor to pay a certain amount to the creditor. Section 4 of the Negotiable Instrument Act has defined Promissory Note as ‗an instrument in writing containing an unconditional undertaking, signed by the maker, to pay a certain sum of money only to or to the order of a certain person‘.
2. Bill of Exchange: ―An instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument‖.
3. Cheques: Cheque is a very common form of negotiable instrument. If you have a savings bank account or current account in a bank, you can issue a cheque in your own name or in favor of others, thereby directing the bank to pay the specified amount to the person named in the cheque.
Foreign Accounts in India a.NRO A/c (Foreign Tourist)
Can foreign tourists open a bank account in India during their short visit? Yes. Foreign tourists during their short visit to India can open a Non-Resident (Ordinary) Rupee (NRO) account (Current / Savings) with any Authorised Dealer bank dealing in foreign exchange. Such account can be opened up to a maximum period of 6 months.
What are the documents required for
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A.Non-Resident Ordinary Rupee Account (NRO ? Loans up to Rs.100 lakh can be extended against Account) security of funds held in FCNR (B) deposit either to the NRO accounts may be opened / maintained in the form depositors or third parties. of current, savings, recurring or fixed deposit accounts. ? The interest rates are stipulated by the Department Interest rates offered by banks on NRO deposits cannot of Banking Operations and Development, Reserve Bank be higher than those offered by them on comparable of domestic rupee deposits. India. ? Account should be denominated in Indian Rupees. ? Permissible credits to NRO account are transfers from DICGC rupee accounts of non-resident banks, remittances Which banks are insured by the DICGC? received in permitted currency from outside India Commercial Banks: All commercial banks including through normal banking channels, permitted currency branches of foreign banks functioning in India, local tendered by account holder during his temporary visit to area banks and regional rural banks are insured by the India, DICGC. legitimate dues in India of the account holder like current income like rent, dividend, pension, interest, etc., sale proceeds of assets including immovable property acquired out of rupee/foreign currency funds or by way of legacy/ inheritance. ? NRI/PIO may remit from the balances held in NRO account an amount not exceeding USD one million per What does the DICGC insure? financial year, subject to payment of applicable taxes. In the event of a bank failure, DICGC protects bank ? The limit of USD 1 million per financial year includes deposits that are payable in India. The DICGC insures sale proceeds of immovable properties held by all deposits such as savings, fixed, current, recurring, NRIs/PIOs. etc. except the following types of deposits. (i) Deposits of foreign Governments; B.Non-Resident (External) Rupee Account (NRE (ii) Deposits of Central/State Account) Governments; (iii)Inter-bank deposits; 1. NRE account may be in the form of savings, current, (iv) Deposits of the State Land Development Banks with recurring or fixed deposit accounts. the State co-operative bank; 2. Such accounts can be opened only by the non- (v) Any amount due on account of any deposit received resident himself and not through the holder of the outside India power of attorney. (vi) Any amount, which has been specifically exempted 3. Account will be maintained in Indian Rupees. by the corporation with the previous approval of 4. Accrued interest income and balances held in NRE Reserve Bank of India. accounts are exempt from Income tax. What is the maximum deposit amount insured 5. Authorised dealers/authorised banks may at their by the DICGC? discretion allow for a period of not more than two Each depositor in a bank is insured upto a maximum of weeks, Rs.1,00,000 (Rupees One Lakh) for both principal and overdrawings in NRE savings bank accounts, up to a interest amount held by him in the same capacity. limit of Rs.50,000. 6. Loans up to Rs.100 lakh can be extended against Does the DICGC insure just the principal on an security of funds held in NRE Account either to the account or both principal and accrued interest? depositors or third parties. The DICGC insures principal and interest upto a maximum amount of Rs. One lakh. C.Foreign Currency Non Resident (Bank) Account – FCNR (B) Account Are deposits in different banks separately ? FCNR (B) accounts are only in the form of term insured? deposits of 1 to 5 years Yes. If you have deposits with more than one bank, ? Account can be in any freely convertible currency. deposit insurance coverage limit is applied separately to the deposits in each bank.
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Can the bank deduct the amount of dues account holders can transact a maximum of five payable by the depositor? transactions free at other bank ATMs in a month, which Yes. Banks have the right to set off their dues from the is inclusive of all types of transactions, financial and amount of deposits. The deposit insurance is available non-financial, beyond which the customer can be after netting of such dues. charged by his/her bank.
Can any insured bank withdraw from the DICGC Is there any minimum and maximum cash coverage? withdrawal limit per day? No. The deposit insurance scheme is compulsory and no Yes, broadly the withdrawal limits are set by the card bank can withdraw from it. issuing banks. This limit is displayed at the respective ATM locations. ATM What is an Automated Teller Machine (ATM)?
Automated Teller Machine is a computerized machine that provides the customers of banks the facility of accessing their account for dispensing cash and to carry out other financial & non-financial transactions without the need to actually visit their bank branch.
What type of cards can be used at an ATM? The ATM debit cards, credit cards and prepaid cards
(that permit cash withdrawal) issued by banks can be used at ATMs for various transactions.
What are the services/facilities available at
ATMs? In addition to cash dispensing ATMs may have many services/facilities enabled by the bank owning the ATM What steps should a customer take in case of such as: failed ATM transaction at other bank ATMs, • Account information where his account is debited? • Cash Deposit The customer should lodge a complaint with the card issuing bank at the earliest. This process is applicable • Regular bills payment even if the transaction was carried out at another • Purchase of Re-load Vouchers for Mobiles bank‘s ATM. • Mini/Short Statement • Loan account enquiry etc. Is there any time limit for the card issuing banks for re-crediting the customer’s account for a How can one transact at an ATM? failed ATM transaction? For transacting at an ATM, the customer inserts /swipes As per the RBI instructions, banks have been mandated his/her Card in the ATM and enters his/her Personal to resolve customer complaints by re-crediting the Identification Number(PIN) issued by his/her bank. customer‘s account within 7 working days from the date of complaint. What is Personal Identification Number (PIN)? PIN is the numeric password which is separately mailed Are the customers eligible for compensation for / handed over to the customer by the bank while delays beyond 7 working days? issuing the card. Most banks require the customers to Yes. Effective from July 1, 2011, banks have to pay change the PIN on the first use. customers Rs. 100/- per day for delays beyond 7 working days. The compensation has to be credited to Can these cards be used at any bank ATM in the the account of the customer without any claim being country? Is the customer charged for the same? made by the customer. Yes. The cards issued by banks in India may be used at any bank ATM within India. However the savings bank
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BANKING OMBUDSMAN SCHEME 2006 (iv) Micro Enterprises: A target of 7.5 percent of ANBC or i.The Banking Ombudsman Scheme enables a bank Credit Equivalent Amount of Off-Balance Sheet Exposure, customer for filing of complaints relating to certain whichever is higher, has been prescribed for Micro services rendered by banks. Enterprises, to be achieved in a phased manner i.e. 7 percent ii. The Banking Ombudsman is a senior official by March 2016 and 7.5 percent by March 2017. appointed by the Reserve Bank of India to redress (v) There is no change in the target of 10 percent of ANBC or customer complaints against deficiency in certain banking services. Credit Equivalent Amount of Off-Balance Sheet Exposure, iii. All Scheduled Commercial Banks, Regional Rural whichever is higher, for Weaker Sections. Banks and Scheduled Primary Co-operative Banks are (vi) Target for Foreign Banks: Foreign Banks with 20 covered under the Scheme. branches and above already have priority sector targets and Other Important Points: sub-targets for Agriculture and Weaker Sections, which are 4. The Banking Ombudsman does not charge any fee to be achieved by March 31, 2018 as per the action plans for filing and resolving customers‘ complaints. submitted by them and approved by RBI. Foreign banks with 5. The maximum compensation which a BO can help a less than 20 branches will move to Total Priority Sector complainant to get is Rs. 10 lakhs. Target of 40 percent of ANBC or Credit Equivalent Amount 6. If a complaint is not settled by an agreement within a of Off-Balance Sheet Exposure, whichever is higher, on par period of one month, the Banking Ombudsman with other banks by 2019-20, and the sub-targets for these proceeds further to pass an award. Before passing an banks, if to be made applicable post 2020, would be award, the Banking Ombudsman provides reasonable decided in due course. opportunity to the complainant and the bank, to (vii) Bank loans to food and agro processing units will form present their case. 7. If one is not satisfied with the decision passed by the part of Agriculture. Banking Ombudsman, one can approach the appellate (viii) Export credit: Export credit upto 32 percent of ANBC or authority who is the Deputy Governor of the RBI. Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher, will be eligible as part of priority sector BANKS IN INDIA AS ON April 2015 for foreign banks with less than 20 1. There are a total of 27 PSBs in India [21 branches. NationaliZed banks + 6 State bank group (SBI + 5 PSL in detail associates)] 1. What is meant by Priority Sector? 2. At present there are 22 Private Banks functioning in Priority sector refers to those sectors of the economy India which may not get timely and adequate credit in the 3. At present there are 56 RRBs (Regional Rural Banks ) absence of this special dispensation. Typically, these functioning in India. are small value loans to farmers for agriculture and 4. At present there are 41 Foreign Banks functioning in allied activities, micro and small enterprises, poor India people for housing, students for education and other low income groups and weaker sections. PRIORITY SECTOR LENDING The salient features of the guidelines are as under:- (i) 2. What are the different categories under Categories of the priority sector: Medium Enterprises, Social priority sector? Infrastructure and Renewable Energy will form part of Priority Sector includes the following categories: priority sector, in addition to the existing categories. Agriculture (ii) Agriculture: The distinction between direct and indirect Micro, Small and Medium Enterprises agriculture is dispensed with. Export Credit (iii) Small and Marginal Farmers: A target of 8 percent of Education ANBC or Credit Equivalent Amount of Off-Balance Sheet Housing Exposure, whichever is higher, has been prescribed for Small Social Infrastructure and Marginal Farmers within agriculture, to be achieved in Renewable Energy a phased manner i.e., 7 percent by March 2016 and 8 percent Others by March 2017.
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3. What are the Targets and Sub-targets for a phased manner i.e. 7 banks under priority sector? per cent by March Foreign 2016 and 7.5 per cent Domestic scheduled by March 2017. banks commercial banks and Categories Foreign banks with 20 with less than 20 branches and above branches The sub-target for Micro Enterprises for foreign Total banks with 20 branches Not Priority 40 percent and above would be Applicable Sector of Adjusted made applicable post 40 percent of Adjusted Net Bank 2018 after a review in Net Bank Credit or Credit Credit or 2017. Equivalent Amount of Credit 10 percent of ANBC or Off-Balance Sheet Equivalent Advances Credit Equivalent Amount Exposure, whichever is Amount of to Weaker of Off-Balance Sheet higher. Off-Balance Sections Exposure, whichever is Sheet higher. Exposure, whichever is higher; to be achieved
in a phased (ii) The Total Priority Sector target of 40 percent for manner by foreign banks with less than 20 branches has to be 2020 achieved in a phased manner as under:- Agriculture 18 percent of ANBC or Not applicable The Total Priority Financial Sector as Credit Equivalent Amount Year percentage of ANBC of Off-Balance Sheet 2015-16 or Credit Equivalent Exposure, whichever is 2016-17 Amount of Off- higher. 2017-18 Balance Sheet Within the 18 percent 2018-19 Exposure, target for agriculture, a 2019-20 whichever is higher target of 8 percent of 32 ANBC or Credit 34 Equivalent Amount of 36 Off-Balance Sheet 38 Exposure, to be achieved 40 in a phased manner i.e., 7 per cent by
March 2016 and 8 per 4. What constitutes Micro and Small Enterprises cent by March 2017. under priority sector? Bank loans to Micro and Small Manufacturing and Service Enterprises, provided these units satisfy the
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Manufacturing more diversification and investing options than they sector Enterprises A company that invests its clients' pooled fund into Investment in plant and securities that match its declared financial objectives. machinery Asset management companies provide investors with Micro Enterprises Do not exceed twenty five lakh rupees Small Enterprises More than twenty fivelakh rupees but does not exceed five crore rupees Enterprises Investment in equipment Micro Enterprises Does not exceed ten lakh rupees Small Enterprises More than ten lakh rupees but does not exceed two crore rupees
5. What is the loan limit for education under priority sector? Loans to individuals for educational purposes including vocational courses upto `10 lakh for studies in India and `20 lakh for studies abroad are included under priority sector.
6. What is the limit for housing loans under priority sector? Loans to individuals up to ₹ 28 lakh in metropolitan centres (with population of ten lakh and above) and loans up to ₹ 20 lakh in other centres for purchase/construction of a dwelling unit per family provided the overall cost of the dwelling unit in the metropolitan centre and at other centres should not exceed ₹ 35 lakh and ₹ 25 lakh respectively.
7. Limits under Social infrastructure Bank loans up to a limit of ₹ 5 crore per borrower for building social infrastructure for activities namely schools, health care facilities, drinking water facilities and sanitation facilities in Tier II to Tier VI centres.
8. Limits under Renewable Energy Bank loans up to a limit of ₹ 15 crore to borrowers for purposes like solar based power generators, biomass based power generators, wind mills, micro-hydel plants and for non-conventional energy based public utilities viz. street lighting systems, and remote village electrification. For individual households, the loan limit will be ₹ 10 lakh per borrower.
Miscellaneous Banking Topics What is Asset Management Companies?
Quick Fix TABLET www.discussstudy.wordpress.com other financial institutions in their respective demises to security interest created in respect of Financial Assets to bring about rapid economic development. enable realization of such assets. The SARFAESI Act provides for the manner for CAMELS: Capital Adequacy, Asset Quality, enforcement of security interests by a secured creditor Management, Earnings Liquidity and Systems. without the intervention of a court or tribunal. If any borrower fails to discharge his liability in repayment of Nationalization of Banks any secured debt within 60 days of notice from the date How many banks were nationalized during the of notice by the secured creditor, the secured creditor is first stage in our country? conferred with powers under the SARFAESI Act to • Nineteen banks were nationalized during the first a. take possession of the secured assets of the stage on 19.07.1969 borrower, including transfer by way of • A separate act namely – Banking companies lease,assignment or sale, for realizing the secured acquisition and undertakings act 1970 was promulgated assets in order to commence the banks as nationalized banks b.takeover of the management of the business of the • The following banks were nationalized during the first borrower including the right to transferby way of lease, stage: assignment or sale for realizing the secured assets, a.Central Bank of India; b) Bank of Maharashtra; c) c.appoint any person to manage the secured assets Dena Bank; d) Punjab National Bank; e) Syndicate possession of which is taken by thesecured creditor, Bank; f) Canara Bank; g) Indian Bank; h) Indian and Overseas Bank; i) Bank of Baroda; j) Union Bank of d.require any person, who has acquired any of the India; k) Allahabad Bank; l) United Bank of India; m) secured assets from the borrower andfrom whom United Commercial Bank; n) Bank of India. money is due to the borrower, to pay the secured creditor so much of the money as if sufficient to pay the What do you mean by the second stage of bank secured debt. nationalisation? • While fourteen banks were nationalized on Other points 19.7.1969, six banks were once again nationalized IMPS: Immediate Payment Service. It is an instant during the year 1980 on 15.4.1980 with an objective to interbank electronic fund transfer service through achieve the social objectives mobile phones. Both the customers must have MMID • The following are the banks which were nationalized (Mobile Money Identifier Number). For this service, we during 1980: Andhra Bank, Punjab and Sind Bank, New don‘t need any GPS-enabled cell phones. Bank of India, Vijaya Bank, Corporation Bank, Oriental Bank of Commerce BCBS: Basel Committee on Banking Supervision is an • New Bank of India subsequently merged with Punjab institution created by the Central Bank governors of the National Bank Group of Ten nations.
IFSC code: Indian Financial System Code. The code consists of 11 characters for identifying the bank and branch where the account in actually held. The IFSC
code is used both by the RTGS and NEFT transfer systems.
NPA-Non-Performing Asset& SARFAESI It means once the borrower has failed to make interest or principal payments for 90 days, the loan is considered to be a non-performing asset.
SARFAESI Act and Rules SARFAESI Act (The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002) was enacted to regulate securitization and reconstruction of financial assets and enforcement of
Quick Fix TABLET www.discussstudy.wordpress.com SWIFT: Society for Worldwide Interbank Financial Telecommunication. It operates a worldwide financial messaging network which exchanges messages between banks and other financial institutions.
STRIPS: Separate Trading for Registered Interest & Principal Securities.
CIBIL: Credit Information Bureau of India Limited. CIBIL is India‘s first credit information bureau. Whenever a person applies for new loans or credit card(s) to a financial institution, they generate the CIBIL report of the said person or concern to judge the credit worthiness of the person and also to verify their existing track record. CIBIL actually maintains the borrower‘s history.
CRISIL: Credit Rating Information Services of India Limited. Crisil is a global analytical company providing ratings, research, and risk and policy advisory services.
Financial inclusion MICR Code: Magnetic ink character recognition Financial inclusion involves (MICR) is a character-recognition technology used 1. Give formal banking services to poor people in mainly by the banking industry to ease the processing urban & rural areas. and clearance of cheques and other documents. It is at 2. Promote habit of money-savings, insurance, the bottom of cheques and other vouchers and typically pension-investment among poor-people. includes the document-type indicator, bank code, bank 3. Help them get loans at reasonable rates from account number, cheque number, cheque amount, and normal banks. So they don‘t become victims in the a control indicator. hands of local moneylender.
MSME and SME: Micro Small and Medium Enterprises Three important initiatives taken by RBI for (MSME), and SME stands for Small and Medium financial inclusion: Enterprises. This is an initiative of the government to 1. Lead banking scheme (LBS). drive and encourage small manufacturers to enjoy RBI asked every bank to choose a particular district. facilities from banks at concessional rates. That Bank will be responsible for promoting banking services and financial literacy, in that district. 2. No frills account replaced in 2012 by BSBDA- LIBOR: London InterBank Offered Rate. An interest Poor people can open bank accounts with ZERO rate at which banks can borrow funds, in marketable balance on 10th august 2012 no frills replaced by basic size, from other banks in the London interbank market. saving bank account
LIBID: London Interbank Bid Rate. The average interest rate at which major London banks borrow 3. Eurocurrency deposits from other banks. Business Correspondents (BC) system. Business correspondents are bank representatives. ECGC: Export Credit Guarantee Corporation of India. This organisation provides risk as well as insurance they personally goes to the area allotted to them and cover to the Indian exporters. carry out banking. They help villagers to open bank accounts. They help villagers in banking transactions. (deposit money, take money out of savings account, loans etc.)
Quick Fix TABLET www.discussstudy.wordpress.com The Business Correspondent carries a mobile device. The villager gives his thumb impression or electronic signature, and get the money. Business Correspondents get commission from bank for every new account opened, every transection made via them, every loan-application processed etc.
KISAN CREDIT CARD KCC is a credit facility given to the farmers based on the total yield capacity of their agriculture land. The money withdrawn is to be paid back in 1 year attracting 7% interest rate but if the individual pays the credit in time then 3% of interest is paid back to his What are soiled, mutilated and imperfect amount, but this facility is available only for those KCC banknotes? which has a annual limit of less than or upto 3 lakh. (i) "soiled note:" means a note which, has become dirty due to usage and also includes a two piece note pasted What is Self Help Group(SHG) together wherein both the pieces presented belong to Self Help Group is a homogeneous group of micro the same note, and form the entire note. entrepreneurs with affinity among themselves, (ii) Mutilated banknote is a banknote, of which a portion voluntarily formed to save whatever amount they can is missing or which is composed of more than two conveniently save out of their earnings and mutually pieces. agree to contribute to a common fund of the group from (iii) Imperfect banknote means any banknote, which is which small loans are given to the members for meeting wholly or partially, obliterated, shrunk, washed, altered their productive and emergent credit needs at such rate or indecipherable but does not include a mutilated of interest, period of loan and other terms as the group banknote. may decide. Unclaimed Deposits and Inoperative/ What do you know by currency chest? Dormant Accounts Currency chests are operated by RBI so that they can 1. UCBs should carry out an annual review of accounts provide good quality currency notes to the public. in which there are no operations (i.e. no credit or debit However, RBI has appointed commercial banks to open other than crediting of periodic interest or debiting of and monitor currency chests on behalf of RBI. The cash service charges) for more than one year. The banks kept in currency chests is considered to be kept in RBI. may approach the customers and inform them in writing that there has been no operation in their What do you mean by narrow banking? accounts and ascertain the reasons for the same. It is the system of banking under which the bank 2. If the letters are returned undelivered, they may accepts deposits from the public and places the funds immediately be put on enquiry to find out the accepted in 100 percent risk free assets with maturity whereabouts of customers or their legal heirs in case matching for its liabilities. The bank takes no risk of they are deceased. lending at all. 3. A savings as well as current account should be What is a small coin depot? treated as inoperative / dormant if there are no Some bank branches are also authorised to establish transactions in the account for over a period of two Small Coin Depots to stock small coins. The Small Coin years. Depots also distribute small coins to other bank branches in their area of operation. REVERSE MORTGAGE LOAN The scheme of reverse mortgage has been introduced for the benefit of senior citizens owning a house but www.discussstudy.wordpress.com | | Page 15
Quick Fix TABLET www.discussstudy.wordpress.com having inadequate income to meet their needs. Some 2. Father of RRB is M.Swaminathan. important features of reverse mortgage are: 3. The Govt. of India had appointed a Working Group on rural Banks under the chairmanship of Mr. M. a.A homeowner who is above 60 years of age is Narasimham in 1975. First 5 RRBs were set up on 2 nd eligible for reverse mortgage loan. It allows Oct., him 4. to turn the equity in his home into one lump sum or periodic payments mutually agreed by the borrower and the banker. b. NO REPAYMENT is required as long as the borrower lives, Borrower should pay all taxes relating to the house and maintain the property as his primary residence. c.The amount of loan is based on several factors: borrower’s age, value of the property, current interest rates and the specific plan chosen.
The valuation of the residential property is done at periodic intervals and it shall be clearly specified to the borrowers upfront. The banks shall have the option to revise the periodic / lump sum amount at such frequency or intervals based on revaluation of property. Settlement--The loan shall become due and payable only when the last surviving borrower dies or would like to sell the home, or permanently moves out. On death of the home owner, the legal heirs have the choice of keeping or selling the house. If they decide to sell the house, the proceeds of the sale would be used to repay the mortgage, with the remainder going to the heirs.
As per the scheme formulated by National Housing Bank (NHB), the maximum period of the loan period is 15 years. The residual life of the property should be at least 20 years. Where the borrower lives longer than 15 years, periodic payments will not be made by lender. However, the borrower can continue to occupy.
Other Banks which were established- REGIONAL RURAL
BANK (RRB): 1. REGIONAL RURAL BANK were set up by an ordinance in 1975, later replaced by RRBs Act, 1976 as pre Banking Commission recommendation in 1975.
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Riksbank(SWEDEN), is the chairman CHAIRMAN of the asking to build conservation buffer is to ensure that Basel Committee. banks maintain a cushion of capital that can be used to
Basel III Accord - Basel 3 Norms Basel III or Basel 3 released in December, 2010 is the third in the series of Basel Accords. These accords deal with risk management aspects for the banking sector.
What does Basel III is all About ? According to Basel Committee on Banking Supervision "Basel III is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector". What are the objectives / aims of the Basel III measures ? Basel 3 measures aim to: ? improve the bank i n g sector's ability to absorb shocks arising from financial and economic stress, whatever the source ? improve risk management and governance ? strengthen banks' transparency and disclosures.
What are Three Pillars of Basel III Norms? Pillar 1: Minimum Regulatory Capital Requirements based on Risk Weighted Assets (RWAs) : Maintaining capital calculated through credit, market and operational risk areas.(MAINLY THAT CAPITAL WHICH CAN ABSORB RISK.) Pillar 2 : Supervisory Review Process : Regulating tools and frameworks for dealing with peripheral(OUTER) risks that banks face. Pillar 3: Market Discipline : Increasing the disclosures that banks must provide to increase the transparency of banks
What are the Major Features of Basel III ? (a) Better Capital Quality : One of the key elements of Basel 3 is the introduction of much stricter definition of capital. It means capital with the higher loss-absorbing capacity. This in turn will mean that banks will be stronger, allowing them to better withstand periods of stress. (b) Capital Conservation Buffer: Another key feature of Basel iii is that now banks will be required to hold a capital conservation buffer of 2.5% of RWAs. CCB-aims to conserve the capital of banks by making a buffer/reserve FOR CRISIS situation . The aim of
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11. Punjab National Bank UCO Bank Kolkata The name you can bank Union Bank of India Mumbai on United Bank of India Kolkata 12. State bank of India With you all the way Vijaya Bank Bangalore 13. Syndicate bank Your faithful & Andhra Bank Hyderabad friendly financial partner 14. Vijaya Bank A friend you can bank on
RUPAY CARD a.RuPay is the Indian domestic card payment network set up by National Payments Corporation of India (NPCI) at the behest of banks in India. The RuPay project had been conceived by Indian Banks Association (IBA) and had the approval of Reserve Bank of India (RBI). b.National Payments Corporation of India (NPCI) has a plan to provide a full range of card payment services including the RuPay ATM, RuPay Micro-ATM, Debit, Prepaid and Credit Cards which will be accepted in India and abroad, across various channels like POS, Internet, IVR and mobile etc. c.All Public Sector Undertakings (PSU) banks set to join RuPay system by the end of year 2012. d.The government of India had launched India‘s first domestic payment card network, RuPay, to compete with Visa Inc and Mastercard Inc.
Objectives of RuPay: The Main Objective of the RuPay payment network project is to reduce the overall transaction cost and develop products appropriate for financial inclusion.
Headquarters of NATIONALIZED BANKS Allahabad Bank Kolkata Bank of India Mumbai Bank of Maharashtra Pune Canara Bank Bangalore Central Bank of India Mumbai Corporation Bank Mangalore Dena Bank Mumbai Indian Bank Chennai Indian Overseas Bank Chennai Oriental Bank of Commerce New Delhi Punjab National Bank New Delhi Punjab & Sind Bank New Delhi State Bank of India Mumbai Syndicate Bank Manipal
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36. CARE: CREDIT ANALYSIS AND RESEARCH LIMITED insurance sector to 49 per cent from the present 26 37. WMAs: WAYS AND MEANS ADVANCES percent. 38. ALM: ASSET LIABILITY MANAGEMENT 7. IndusInd Bank entered into an agreement to 39. INFINET INDIAN FINANCIAL acquire Royal Bank of Scotland's Diamond & NETWORK Jewellery Financing business in India and related deposit portfolio. CURRENT AFFAIRS CAPSULE 8. ICICI Bank in collaboration with Tech Mahindra launched a payment service ‗Tap-n-Pay‘ based on FINANCIAL & BANKING NEWS the near-field communications (NFC) technology, 1. RBI approves the merger of Kotak Mahindra-ING enabling customers make over-the-counter Vysya. payments without using cash. 2. Bharti AXA General Insurance launched Smart 9. Bharatiya Mahila Bank Ltd has entered into MoUs Traveller. with New India Assurance Company Ltd and Life 3. Dena Bank on 6 April 2015 signed a Memorandum Insurance Corporation of India to provide of Understanding (MoU) with Life Insurance insurance cover to its accountholders. Corporation (LIC) of India to provide insurance 10. RBI has modulated PSL norms which stipulate that cover to all Aadhaar-linked savings account holders banks operating in India must offer 40% of all of the bank in the age group of 18 to 50 years. loans to farmers, small entrepreneurs and 4. PM Narendra Modi launched the Rs 20,000 cr Micro so-called weaker sections of society. Units Development Refinance Agency (MUDRA) 11. Bank of India has partnered with insurance Bank and said , ―the aim of the bank is to fund the companies New India Assurance Co and Star Union unfunded small entrepreneurs and to strengthen Dai-ichi Life Insurance to roll out the government‘s savings habit in the country‖. social security insurance schemes. 12. Bank of Baroda, a leading Indian public sector
bank, has tied up with UAE Exchange to offer an instant cash transfer facility to NRI customers. 13. Bharatiya Mahila Bank (BMB) has won The Asian
Banker Achievement Award 2015. 14. The government has raised the limit of foreign direct investment in pension sector to 49 per cent
in line with the FDI cap in the insurance sector. 15. Corporation Bank and New India Assurance Company Ltd signed a memorandum of
understanding (MoU) for implementing Pradhan Mantri Suraksha Bima Yojana [PMSBY], central government`s scheme to provide security against personal accidental risk and permanent or partial
disability. 16. Insurance Australia Group (IAG) has decided to increase its stake in State Bank of India‘s general
insurance arm to 49 per cent from 26 per cent. 17. IndusInd Bank has agreed to buy Royal Bank of Scotland‘s diamond and jewellery financing
business in India. 18. Country's second largest private sector lender 5. IFCI Ltd has now become a state- owned firm with HDFC Bank launched '30-min auto' and '15-min 2- the government increasing its stake in the wheeler' loan schemes, for which customers have infrastructure financing firm to 51.04 per cent. to provide only their biometric details. 6. The Reserve Bank notified government's decision 19. Private insurer Bajaj Allianz has launched a to raise foreign direct investment (FDI) limit in the
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crops in Nagpur, Hingoli and Washim districts of even after a period of financial restructuring, Maharashtra. typically due to management inefficiency or other 20. Government is likely to infuse additional USD 1.8 banks to take control of 51 percent of stake in a billion (about Rs 11,500 crore) in public sector company that has failed to recover financial health banks this fiscal. 21. HDFC Securities, a subsidiary of HDFC BankBSE - 0.23 % has launched its mobile trading app in 11 different regional languages. 22. The Reserve Bank of India (RBI) has extended the date to exchange pre-2005 bank notes till December 31, 2015 for third time. 23. Export-Import (Exim) Bank has extended a line of credit of $268.35 million to Tanzania for financing extension of Lake Victoria pipeline. 24. The Reserve Bank of India (RBI) issued the final guidelines for the 6-year and 13-year cash settled Interest Rate Futures (IRF) on government securities with residual maturity of 4-8 years and 11-15 years respectively under the Interest Rate Futures. 25. To help investors and companies in IPOs, SEBI halved the listing time to six days from the date of the public offer and also allowed a larger number of firms to tap the ―fast—track‖ route for raising funds. 26. India Brand Equity Foundation (IBEF) in the third week of June 2015 released a report on Intellectual Property Rights (IPRs) filing in India during 2013-14. While Maharashtra topped the list of states and Union Territories (UTs), Bengaluru was the top city in IPR filing. 27. Odisha State Co-op Bank launches Bank on Wheels. 28. The stock of Kaveri Seed Company will see some buying interest as the Reserve Bank of India said foreign portfolio investors could now invest up to 49 per cent of the company‘s equity base. 29. Bills for postpaid mobile service, piped gas and water supply can now be submitted as proof of address for opening account with banks or other financial institutions. 30. Service tax increased to 14%. 31. RBI lowers repo rate to 7.25 per cent. 32. Non-repatriable investments by NRIs, OCIs and PIOs will be treated as domestic investments and will not be subject to foreign direct investment caps. 33. EPFO to invest 5% of funds in equity market. 34. The Reserve Bank of India (RBI) has permitted
Quick Fix TABLET www.discussstudy.wordpress.com 57. Aiming to attract overseas funds, government decided that non-repatriable investments by NRIs, OCIs and PIOs will be treated as domestic investments and will not be subject to foreign direct investment caps. 58. The country's largest bank announced a partnership with digital payments firm, PayPal so that the Customers of State Bank of India (SBI) can now use their debit cards on PayPal for buying products from overseas websites. 59. Markets regulator SEBI simplified norms for domestic mutual funds to manage offshore pooled assets, dropping its "20-25 rule" which requires a minimum of 20 investors and a cap of 25 percent 46. KV Kamath appointed BRICS bank president. on investment by an individual, for funds from 47. State Bank of India joined its private sector rivals low- risk foreign investors. to launch contactless cards using latest near field 60. IDBI Bank has decided to roll out e-huts to connect technology (NFC). with the rural populace. 48. In a move that will promote 'tap and pay' electronic payments, the Reserve Bank of India INDIA GDP FORECAST (RBI) said that bank can allow customers to 1. The World Bank has predicted a GDP growth rate of transact with contactless card upto Rs 2000 8 per cent for India by 2017 and said that a strong without customers punching a separate PIN for expansion in the country, coupled with favourable authentication. oil prices. 49. Arun Shrivastava assumed charge as Managing 2. Moody‘s, a global ratings agency, raised India‘s Director & CEO of Syndicate Bank. rating outlook to ―positive‖ from ―stable‖, but 50. Top private sector lender ICICI Bank opened its retained the Baa3 rating. first branch in China, which was inaugurated by 3. India's economic growth is projected to surpass that Prime Minister Narendra Modi. of China's, with the GDP expected to zoom by 7.7 51. HDFC Bank has launched 'HDFC Bank Apollo per cent in 2016, according to a UN report. Medical Benefits Card'. 4. 52. As part of Make in India, Finance Minister Arun The Asian Development Bank projected India's Jaitely inaugurates Indigenous New Bank Note growth rate to surpass China and improve to 7.8 per printing lines at Security Paper Mill in cent in next fiscal and further to 8.2 per cent in Hoshangabad. 2016-17. 53. ICICI Launches Voice Password Facility for Phone 5. Banking. India pegs 2014-15 GDP growth at 7.4 per cent 54. State-run Corporation Bank cut base rate or 6. India‘s growth to reach 6.3 per cent in 2016:United minimum lending rate by 0.25 percentage point to Nations World Economic Situation and Prospects 10 per cent, a move which will lead to lower EMIs (WESP) for its customers. 7. International Monetary Fund (IMF) projected that 55. Micro Units Development Refinance Agency India will grow 6.5 per cent in 2016, overtaking (MUDRA) Bank has partnered with 19 state and China which, it projected, will slowdown to 6.3 per regional level coordinators to reach those small cent. entrepreneurs who are often cut off from the 8. Fitch expects real GDP growth to pick up to 8 per banking system because of a limited branch cent in FY16 and 8.3 per cent in FY17. presence. 9. IMF projected GDP growth for India in 2014-15 at - 56. State-run lender Bank of India tied up with 5.6 % & 6.4 % in 2015 MasterCard to launch three new cards and also two new banking solutions for its card holders. India ranking in different Indexes: 1. India ranks 119 on 2015 FM Global Resilience
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3. India is home to the highest number of hungry tax-related issues on a regular basis. The high people in the world, at 194 million, surpassing China, according to United Nations annual hunger report. 4. India‘s consumer confidence score rose to 130 followed by Indonesia (123) and Philippines (115). 5. India has emerged as the second-most trusted country in the world in terms of faith reposed on its institutions. The list is topped by UAE with 84 per cent trust. 6. Transparency International India (TII) – Corruption Index – India ranked 85th among 175(Denmark topped) 7. World Bank - Ease of Doing Business" report - India ranked 142 among the 189 countries (Singapore top) 8. World Economic Forum's 2015 Gender gap index – 114 (Iceland top the list followed by Finland & Norway) 9. Global Hunger Index Report 2014: 55 (Mauritius top followed by Thailand and Albania) 10. Human Development Index 2014 – 135 (Norway top followed by Australia). 11. Intellectual property (IP) environment 2015 – 29 (US ranked on the top, Thiland last) 12. World Press Freedom Index 2015 - 136 in the list of 180 countries 13. World's best countries for doing business 2014 – 134 14. Global Peace Index 2014 – 143 (Iceland top the list while Syria the most violent place) 15. Global Innovation Index 2014 - 76 16. Global Competitiveness Index 2014 -71 (Switzerland is the most competitive economy, followed by Singapore).
Important Committees in News: 1. Bibek Debroy Committee on restructuring of Indian Railways. 2. The government has set up a high level panel, headed by former Home Secretary Anil Baijal to suggest a framework to assess CSR activities done by corporates under the companies law. 3. Union Finance Ministry constituted High Level Committee to interact with trade and industry to give recommendations to the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs (CBEC) for issuance of appropriate clarifications by way of circulars, on
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19. R. Ramanujam Committee - to review, identify and zone that facilitates creation of Africa‘s largest free- recommend amendment in obsolete laws to further trade zone. smoothen and simplify the governance. 12. Seychelles becomes 161st member of World Trade Organisation. Important News (India & World): 13. David Cameron has returned to Downing Street 1. A massive 7.9-magnitude earthquake struck east of with the Tories having defied polls and won the Pokhara in Nepal, causing widespread damage to general election. buildings in the capital Kathmandu. 14. President Pranab Mukherjee, on his visit to Russia, 2. China has hosted the signing ceremony of the Asian has inaugurated a festival of Indian Culture Infrastructure Investment Bank (AIIB), a new 'Namaste Russia' in Moscow. international financial institution set to rival the 15. China overtook the United States as the world's top World Bank and Asian Development Bank. importer of crude oil for the first time in April 2015. 3. A ranking of destinations for attractiveness to 16. A major earthquake has struck eastern Nepal, near foreign investors has placed India at the top among Mount Everest, two weeks after more than 8,000 110 countries. China has secured the 65th position died in a devastating quake. and the U.S. 17. Prime Minister Narendra Modi announced that India 4. As per recently released report by British Petroleum will grant e-visas to Chinese tourists. (BP) Energy Company, United States (US) became 18. Minister of State for Information and Broadcasting the world‘s largest oil producer in 2014 surpassing Rajyavardhan Singh Rathore inaugurated the India Saudi Arabia. Pavilion at the 68th Cannes International Film 5. Minister of State (MoS) for External Affairs V K Festival. Singh inaugurated first India-China Yoga College at 19. Brushing aside objections, Prime Minister Narendra Yunnan Minzu University in Kunming, China. Modi announced granting of e-visa (electronic visa 6. India leads regional inflow of Foreign Direct also called visa on arrival) facility to the Chinese Investment (FDI) in South Asia accounting for $34 nationals in Beijing. billion investment during 2014 and the upward 20. India announced a US$ one billion credit line to trend is likely to continue this year also, according to Mongolia for infrastructure development as they a UN report which placed China as the world's upgraded their ties to ―Strategic Partnership‖ and largest FDI recipient. agreed to deepen defense cooperation besides 7. India has emerged as the third largest Foreign exploring potential for tie ups in areas like the civil Direct Investment (FDI) source for United Kingdom nuclear sector. (UK) in 2014-15. 21. Prime Minister Narendra Modi and Bangladesh 8. India has set two Guinness world records (GWR) in premier Sheikh Hasina will jointly inaugurate a Rajpath yoga event held on the eve of first border 'haat' (market) at Kamalasagar in Tripura's International Yoga Day led by Prime Minister Sipahijala district, which borders Brahmanbaria Narendra Modi. First record is the largest number of district of Bangladesh. participants- 35,985 people had participated in largest yoga demonstration at a single venue i.e. Rajpath yoga event. 9. China launched a freight train service between its northeastern city of Harbin and Europe, opening a new trade route to Europe covering a distance of nearly 10,000 kms. 10. The Senate passed the USA Freedom Act, marking the first time in over thirty years that both houses of Congress have approved a bill placing real restrictions and oversight on the National Security Agency‘s surveillance powers. 11. 26 African countries create TFTA (The Tripartite Free Trade Area): Cape Town to Cairo free-trade
Quick Fix TABLET www.discussstudy.wordpress.com 10. Tennis legend Steffi Graf was appointed the Ayurveda brand ambassador of Kerala. 11. Indian Railways names Haridwar Mail as Yoga Express. 12. The Andhra Pradesh government has launched `Mee Bhoomi', a digital depository of land records.The portal, http://meebhoomi.ap.gov.in/, makes all land details along with Adangal/Pahani and 1-B details, available to the people. 13. Tamil Nadu chief minister J Jayalalithaa announced a financial aid of Rs 41 crore for farmers in the Cauvery delta region to improve the kuruvai cultivation (short-term cultivation). 14. Essel, Rajasthan government ink Rs 4k crore pact for solar parks. 15. Mahindra World City Jaipur (MWCJ), spread across 3,000 acres on the Delhi-Mumbai corridor, has become the first project in Asia — and sixth in the world — to commit to a carbon-positive road map as part of the C40 Cities Climate Leadership Group. 16. Chief Minister N. Chandrababu Naidu and his wife Bhuvaneswari performed bhoomi pooja for the new Important News – States capital — Amaravati — at Mandadam village in 1. Odisha Government launches Aahar scheme. Guntur district. 2. Andhra Pradesh Cabinet approved Amaravathi as 17. Kapil Mishra to Succeed Jitender Tomar as Delhi's capital of the State. Law Minister. 3. Punjab Government launches Padho Punjab- Khedo 18. In Haryana's Bibipur village, contest of selfies with Punjab Mission. daughter to save girl child was organised. 4. The BJP government in Haryana has decided to give 19. In a bid to make Arunachal Pradesh a hundred per the status of cabinet minister to yoga guru Ramdev, cent organic state, the State government decided to who was earlier made the state‘s brand ambassador launch ―State Soil Health Mission‖.The programme to promote yoga and ayurveda. aims at proper documentation of soil health and 5. The Kerala government launched a major campaign preparation of soil map. "Subodham" to help people in the state overcome 20. Jitan Ram Manjhi announces new party as alcohol, drug and other substance abuse. Hindustani Awam Morcha (HAM). 6. The Delhi government gave approval for the setting 21. MoUs worth Rs 24,000 cr signed during PM up of a farmer compensation scheme to be named Narendra Modi's visit to Chattisgarh. after Gajender Singh, who allegedly committed 22. Punjab becomes first state to issue Soil Health suicide during an AAP rally on April 22. Cards to farmers. Union Ministry of Human 7. West Bengal Chief Minister Mamata Banerjee Resource Development (MHRD) gave an in-principle declared Nadia as the first Open Defecation Free approval for setting up an IIIT (Indian Institute of (ODF) district in the country. Information Technology) in Nagpur, Maharashtra. It 8. Nadia district in West Bengal has won the United will be the first IIIT to be set up in the state. Nations Public Service Award 2015 in the category 23. Mega Food Park Inaugurated at Nalbari, Assam. of improving delivery of public services for or eliminating open defecation in the district. 9. First phase of Chennai Metro service was inaugurated by Tamil Nadu Chief Minister J Jayalalithaa after she flagged off inaugural train. www.discussstudy.wordpress.com | | Page 24
Quick Fix TABLET www.discussstudy.wordpress.com 14. Senior IPS officer Archana Ramasundaram has been moved out of the CBI and appointed as Director, National Crime Records Bureau (NCRB). 15. LIC Nomura Mutual Fund CEO Nilesh Sathe appointed member, life at IRDAI. 16. New chairman of Engineers India Ltd - Sanjay Gupta . He replaced A K Purwaha. 17. K.Sivan becomes the new VSSC chief replacing M.S. Dathan. 18. General Lalit Bhanot was elected vice-President of the Asian Athletics Association (AAA). 19. Jyoti Prasad Rajkhowa sworn-in as Arunachal Pradesh Governor. 20. Ravi Shastri to continue as Indian team director. 21. Ex-IB chief Asif Ibrahim was the PM‘s ‗Special Envoy on Countering Terrorism and Extremism,‘ with a New Appointment in India 13. Beno Zephine becomes first 100% blind officer in 1. Gulshan Rai takes charge as India‘s first cyber IFS. security chief. 2. K.N. Tripathi sworn in as Governor of Mizoram. 3. Mayilsamy Annadurai appointed as Director of ISRO Satellite Centre (ISAC). 4. President Pranab Mukherjee has appointed the senior-most Election Commissioner, Dr Nasim Zaidi, as the next Chief Election Commissioner (CEC). 5. Sumit Mazumder, Chairman & Managing Director, TIL Limited, has been elected as the President of CII for the year 2015-16. He succeeds Mr Ajay Shriram as the new President. 6. Arun Kumar Jha was appointed as Chief Executive Officer of Khadi and Village Industries Commission (KVIC), Mumbai. 7. Meenakshi Madan Rai sworn in as the first lady judge of the Sikkim High Court. Her oath of the office was administered by the Governor Srinivas Patil at Ashirwad Hall at Raj Bhavan in Gangtok. 8. Senior diplomat Mohan Kumar, currently India's top envoy to Bahrain, has been appointed the next Ambassador to France to succeed Arun Kumar. 9. IDFC appoints former CAG Vinod Rai as independent director. 10. Rahul Agarwal is Lenovo India MD 11. Ericsson appoints Paolo Colella as new head of region India. 12. State Bank of India (SBI) announced the appointment of Anshula Kant as its chief financial officer (CFO). Kant has been designated as the deputy managing director and CFO of the bank, SBI said in a filing on BSE.
Quick Fix TABLET www.discussstudy.wordpress.com 35. Alok Kumar and Jitendra Kumar have been appointed as advisers in Niti Aayog for five years. 36. Eminent scientist Dr. Selvin Christopher has been appointed as the Director General (DG) of Defence Research and Development Organisation (DRDO) along with the rank of a secretary. 37. 23-year-old US-educated Yaduveer crowned ‗Maharaja of Mysuru‘. 38. In a first in India, Manabi Bandopadhyay has been appointed the first transgender principal at a college in West Bengal. 39. Manoj Mishra appointed as CMD of National Fertilizers Ltd (NFL). 40. AIADMK supremo Jayalalithaa sworn in for the fifth time as Tamil Nadu chief minister. 41. New Governors Appointed: Jharkhand: Former Odisha Minister Droupadi Murmu was appointed as Governor of Jharkhand. Manipur: Dr Syed Ahmed has been transfered to Manipur for remaining period of his term. Arunachal Pradesh: J P Rajkhowa was appointed as Governor of Arunachal Pradesh.
FDI Limits in different sectors: Defence 49 Pension 49 Insurance 49 Print Media 26 Civil Aviation 49 Public Sec. Banks 20 Private Sec. Banks 74 Multi Brand 51 Single Brand 100 Tourism 100
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Mizoram: Lt. General (Retd.) Nirbhay Sharma has decision making body of the World Health been transferred and appointed as Governor of Organisation (WHO), after a gap of 19 years. Mizoram for the remainder of his term. Tripura: Tathagata Roy will be the Governor of Tripura. Meghalaya: V Shanmuganathan
New Appointment in World 1. Muhammadu Buhari claims victory in Nigeria's presidential elections. 2. Pedro Cateriano Bellido appointed as Prime Minister of Peru. 3. The East China Normal University (ECNU), one of the prestigious universities in China, announced the appointment of Dr. Vishal Sikka, Chief Executive Officer of Infosys, as Advisory Professor. 4. Indian-American Vivek Murthy was sworn-in as the US Surgeon General. He succeeded Boris D. Lushniak. 5. Chennai-born Raja Rajeswari has been sworn-in as a criminal court judge in New York by Mayor Bill de Blasio. 6. Nikesh Arora appointed SoftBank President. 7. Afghan President Ashraf Ghani nominated a female judge to the Supreme Court in an unprecedented move that has angered some Islamic conservatives. 8. Finance Minister Nhlanhla Nene announced that former Reserve Bank governor Tito Mboweni has been appointed as the non-executive director to the board the Brics New Development Bank (NDB). 9. UN elected Denmark's Mogens Lykketoft to head General Assembly. 10. Prince Harry was made a Knight Commander of the Royal Victorian Order. 11. Deutsche Bank appointed John Cryan as its new CEO. 12. Indian-origin Tory MP Priti Patel has been appointed minister of state for employment in British Prime Minister David Cameron's new cabinet.
SUMMIT 1. Hyderabad will play host to a four-day global pharma expo and summit from July 23. 2. 6th National Conference on Nuclear Energy held in New Delhi. 3. Minister of Health & Family Welfare, Jagat Prakash Nadda, will preside over the 68th Session of the World Health Assembly (WHA) at Geneva as India assumes the Presidency of the WHA, the high
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Premium: Rs. 330 (per annum). HIGHLIGHTS OF ATAL PENSION YOJANA Under the APY, there is guaranteed minimum Payment Mode: The premium will be directly auto- monthly pension for the subscribers ranging debited by the bank from the subscribers‘ savings bank between Rs. 1000 and Rs. 5000 per month. account. This is the only mode available currently. The benefit of minimum pension would be Risk Coverage: Sum Assured of Rs. 2 Lakh on death guaranteed by the GoI. of the Insured member for any reason is payable to the GoI will also co-contribute 50% of the subscriber‘s Nominee. contribution or Rs. 1000 per annum, whichever is lower. Government co-contribution is available for Termination of assurance: those who are not covered by any Statutory Social Account holder attains age of 55 years Security Schemes and is not income tax payer. Closure of account with the Bank or insufficiency of GoI will co-contribute to each eligible subscriber, balance for debiting premium. for a period of 5 years who joins the scheme In case of multiple coverage under the scheme, the between the period 1st June, 2015 to 31st cover will be restricted to Rs.2 lakhs and other December, 2015. The benefit of five years of insurance covers are terminated and premium shall be government Co-contribution under APY would not forfeited. exceed 5 years for all subscribers including migrated Swavalamban beneficiaries. 2. Pradhan Mantri Suraksha Bima Yojana All bank account holders may join APY. Highlights of the Pradhan Mantri Suraksha Bima Yojana (PMSBY – Scheme 1 – for Accidental Death Insurance) are:
Eligibility: The savings bank account holders of the participating Bank between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the modality, will be enrolled into the scheme. Policy period: The cover shall be for one year period starting from 1st June 2015 to 31st May 2016 for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by 31st May 2015 - extendable up to 31st August, 2015. Premium: Rs. 12/- + service tax (per annum).
Payment Mode: The premium will be directly auto- debited by the bank from the subscribers account. This FINANCIAL SCHEMES is the only mode available. Jan Dhan Yohana Yojana Risk Coverage: Total coverage (sum-insured) under Aim - scheme to promote financial inclusion: the scheme is Rs. 2 Lakh. Prime Minister Narendra Modi launched 'Pradhan Mantri Jan Dhan Yojana' to help the 3. BRIEF OF ATAL PENSION YOJANA poor open bank accounts. The GoI has announced a new scheme called Atal The slogan for the Pradhan Mantri Jan Dhan Pension Yojana (APY)1 in 2015-16 budget. The mission is ―Mera Khata – Bhagya Vidhaata‖. APY is focussed on all citizens in the unorganized Benefits : sector. i. Every individual who opens a bank account The scheme is administered by the Pension Fund will become eligible to receive an accident Regulatory and Development Authority (PFRDA) insurance cover of up-to Rs. 1 Lakh. through NPS architecture. ii. HDFC Ergo General Insurance will provide the accident cover under the scheme.
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iii. An additional Rs. 30,000 life insurance cover implementation of various ongoing projects will be provided for those opening bank including Rail Budget proposals. accounts before January 26,2015. 5. Prime Minister Narendra Modi unveiled three mega iv. LIC (Life Insurance Corporation) will provide flagship schemes aimed at developing cities and the life insurance cover of Rs 30,000 under the towns as "new engines for growth". The three scheme projects -- 100 smart cities, Atal Mission for v. Rs 5,000 overdraft facility for Aadhar-linked Rejuvenation and Urban Transformation (AMRUT) accounts, Ru Pay Debit Card with and minimum and Housing for All - will ring in a new urban era, monthly remuneration of Rs 5,000 to business which will entail an investment of over Rs 3 lakh correspondents who will provide the last link crore in the next five years. between the account holders and the bank. 6. Union Government has launched Bhuvan Ganga Mobile Application and Web Portal to aid flagship mission to Clean Ganga. 7. Union Cabinet approved increasing India‘s solar power capacity target under the Jawaharlal Nehru National Solar Mission (JNNSM) to 1 Lakh Mega Watt (MW) by 2022. 8. The Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER) Jitendra Singh on 15 June 2015 launched an Augmented Reality (AR) application named Sakaar to highlight the achievements of the Department of Space. 9. Union Minister for Micro, Small and Medium Enterprises Kalraj Mishra on 15 June 2015 launched a digital Employment Exchange for Industries (EEX) portal eex.dcmsme.gov.in which will connect employers and job seekers. 10. Union Government launched weather alert service NOWCAST-The SMS will be sent in English, Hindi and regional languages as per farmers‘ request. 11. India will provide e-tourist visa to 31 more countries, including France and Canada, enabling Scheme & Plan Launched by Union & State the citizens of these nations easy entry to the Government: country. With the latest addition, the total number 1. Union Government launches FAME-India scheme to of countries under this scheme will go up to 76. boost electric, hybrid vehicle sales. 12. Union Minister of Road Transport and Highways 2. Prime Minister Narendra Modi launched Give it Up Shri Nitin Gadkari dedicated to the nation two campaign at the annual energy-focussed summit major Highway projects in the North East at a Urja Sangam 2015. The campaign seeks to extort function near Shillong. These include Shillong the better off sections of society to forego their Bypass and four laning of Jorabat-Barapani Section liquefied petroleum gas (LPG) subsidy, which of NH-40. would be utilised in providing subsidised LPG 13. Centre allocates Rs 5,000 crore for development of connections to the poor. AYUSH. 3. Union Ministry of Home Affairs (MHA) has renamed 14. Marking the first anniversary of NDA government, Tourist Visa on Arrival-Electronic Travel Prime Minister Narendra Modi launched ‗Kisan TV‘ Authorization scheme (TVoA-ETA) to e-Tourist Visa at a function held in Vigyan Bhawan. 4. Railways today launched E-Samiksha, an online 15. Centre is planning to launch soon an agri-training monitoring mechanism, with an aim of monitoring programme in 593 villages under the Sansad
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16. Niti Ayog iv. If minimum Rs 1000/- is not deposited in a financial India's Planning Commission will be renamed "Niti year, account will become discontinued and can be Ayog" (National Institution for Transforming India) as revived with a penalty of Rs 50/- per year with part of a plan to restructure the institution that the minimum amount required for deposit for that year. government believes has run its course. The name, v.Partial withdrawal, maximum up to 50% of balance replacing "Yojana (planning)" with "Niti (policy)" will be standing at the end of the preceding financial year can announced in an amended resolution for the new plan be taken after Account holder‘s attaining age of 18 body. The Planning Commission had suggested to a years. group chaired by Prime Minister Narendra Modi that its vi. Account can be closed after completion of 21 years. replacement body should be structured to meet the need of changing economic paradigm and comprise 19. Amrut Mahotsav - The year sectorial experts and states' representative. 2022, 75th year of Independence Vision for ―Team India‖ led by PM The NITI Aayog will comprise the following: i.Basic facility of 24x7 power, clean drinking water, a The full-time organizational framework will comprise of, toilet and road connectivity. in addition to the Prime Minister as the Chairperson: ii. Housing for all - 2 crore houses in Urban areas and 4 i. Vice-Chairperson: To be appointed by the Prime crore houses in Rural areas. Minister iii. At least one member has access to means for ii. Members: Full-time livelihood. iii. Part-time members: Maximum of 2 from leading iv. Substantial reduction in poverty. universities research organizations and other relevant v. Electrification of the remaining 20,000 villages institutions in an ex-officio capacity. Part time members including off-grid Solar Power- by 2020. will be on a rotational basis. iv. Ex Officio members: Maximum of 4 members of the 20. Union Council of Ministers to be nominated by the Prime Deendayal Upadhyaya Gram Jyoti Yojana: Minister. Government approved Rs 43,033-crore rural v.Chief Executive Officer: To be appointed by the Prime electrification scheme Deendayal Upadhyaya Gram Minister for a fixed tenure, in the rank of Secretary Jyoti to the Government of India. Yojana. Note: The scheme will replace the existing vi. Secretariat as deemed necessary. Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY). ii. The scheme is likely to work towards improvement in 17. PAHAL Scheme hours of power supply in rural areas, reduction in peak More than 60 per cent of LPG customers in the country load, improvement in billed energy based on metered have joined the ambitious PAHAL scheme for receiving consumption and providing access to electricity to rural cash subsidy so that they can buy cooking gas (LPG) at households. market price. Over 9 crore consumers, out of a total 21. Union Government launched the nationwide customer base of 15.33 crore, have joined the Direct Bal Swachhta Mission: Benefit Transfer for LPG (DBTL) scheme and Rs 2,262 i.The Bal Swachhta Mission is a part of the nationwide crore in cash has been transfered to them. sanitation initiative of Swachh Bharat Mission that was launched by the Prime Minister on 2 October 2014. The 18. Sukanya Samriddhi Accounts - nationwide Bal Swachhta Mission will have the following i.Rate of interest 9.1% Per Annum(2014-15),calculated on yearly basis ,Yearly compounded. six themes: ii. Minimum INR. 1000/-and Maximum INR. 1,50,000/- 1. Clean Anganwadis in a financial year. Subsequent deposit in multiple of 2. Clean Surroundings like Playgrounds INR 100/- Deposits can be made in lump-sum No limit 3. Clean Self (Personal Hygiene/Child Health) on number of deposits either in a month or in a 4. Clean Food Financial year. 5. Clean Drinking Water iii. Account can be opened up to age of 10 years only 6. Clean Toilets from the date of birth. 22. Swachh Bharat Mission (Ek Kadam
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village cleanliness and safe and adequate drinking groups and make them capable for self- water supply. employment. 27. Indira Awas Yojan: It is one of the major flagship Important Points: Development (MoRD), Government of India in June 1. The Mission aims at fulfilling the dream of clean India 2011. The basic idea behind this programme is to of Mahatma Gandhi by his 150th birth anniversary in organize the poor into SHG (Self Help Groups) 2019. 2. Logo – created by Shri Anant Khasbardar of Kolhapur, Maharashtra has won the Logo design contest 3. The Tagline ―Ek Kadam Swachhata Ki Aur‖ was given by Ms.Bhagyasri Sheth of Rajkot, Gujarat emerged successful in the contest for Tagline for the Logo. 4. PM Narendra Modi appointed bollywood actor Aamri Khan as the Brand Ambassador of the Swachh Bharat Mission 5. Prime Minister roped 9 celebrities including cricket icon Sachin Tendulkar, Congress leader Shashi Tharoor, industrialist Anil Ambani, Salman Khan, Priyanka Chopra and Kamal Haasan, Goa governor Mridula Sinha, yoga guru Ramdev and the team of TV serial "Tarak Mehta Ka Ulta Chashma".
23. Union Ministry of Science & Technology announces ―KIRAN‖ (Knowledge, Involvement, Research, Advancement through Nurturing) scheme for Women Scientists 24. Objectives:- i.To increase the number of women researchers in India. ii. Provide Research grants particularly to those female researchers and technologists who had to take a break in career owing to household reasons. iii. Bring about, as far as achievable, gender parity in the field of science and technology. 25. National Pension System -: Government of India established Pension Fund Regulatory and Development Authority (PFRDA)- External website that opens in a new window on 10th October, 2003 to develop and regulate pension sector in the country. The National Pension System (NPS) was launched on 1st January, 2004 with the objective of providing retirement income to all the citizens. 26. Aajeevika - National Rural Livelihoods Mission (NRLM) was launched by the Ministry of Rural
Quick Fix TABLET www.discussstudy.wordpress.com Awards for their outstanding achievement in the field of business. 9. Bollywood actor Shah Rukh Khan was honoured with the Dadasaheb Phalke Film Foundation Award 2015 for his performance in the movie Happy New Year. Actor Rajkummar Rao won the prestigious award for his performance in the critically acclaimed film Citylights. 10. PM Modi awarded the 50th Jnanpith Award to eminent Marathi litterateur Bhalchandra Nemade whose several books, including Kosala and Hindu, have influenced Indian writing. 11. Bollywood actor Anil Kapoor conferred with prestigious Master Deenanath Mangeshkar Award 2015. 12. Indian Space Research Organisation (ISRO) has been selected for the Gandhi Peace Prize for 2014 for its contribution to the country‘s development through space technology and satellite-based services. 13. President Pranab Mukharjee conferred Punyabhushan Award on Prataprao Pawar, Chairman of Sakal Media Group (SMG) at Balgandharva Auditorium in Pune. 14. Vocalist Sanjay Subrahmanyam selected for ‗Sangita 15. Atal Behari Vajpayee honoured with BangladeshKalanidhi‘ award 2015. 23. Hungarian writer Laszlo Krasznahorkai won Britain's Man Booker International Prize for career 16. Edward Snowden awarded freedom of expression Liberation War Award. achievement. 17. Isro Bags Space Pioneer Award for Mangalyaanprize in Norway Awards IIFA 2015 Best Actor Winner Mars Orbiter Mission. Shahid Kapoor for Haider 18. Indian-Origin Surgeon General Vivek Murthy Kangna Ranaut for Queen Presented With Pride of Community Award Best Actress Rajkumar Hirani for PK 19. Dr. Pramod Patil and Dr. Ananda Kumar won Best Director Queen 2015 Whitley Awards for wildlife Best Movie 62nd National Film conservation. Awards Awards 20. Ace marksman Jitu Rai was declared the Best Actor Sanchari Vijay for Nanu Sportsperson of the Year' at the Times of India Best Actress Avanalla Avalu Sports Awards. Best Director Kangna Ranaut for Queen 21. Indian film Masaan has won the prestigious critics Srijit Mukherji prize in the Un Certain Regard category at the 68th 22. Two Indian peacekeepers have been chosen Cannes Film Festival. Best Feature Fim Queen Best Feature Film posthumously for United Nation‘s Dag in Hindi Court Hammarskjold Medal. They are Lance Naik Nand Dada Saheb Shashi Kapoor Ram and Raju Joseph. Phalke Award
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2. Amitabh Bachchan- Art- Maharashtra of Tripura bordering Brahmanbaria district of 3. Prakash Singh Badal- Public Affairs- Punjab Bangladesh. 4. Prof Malur Ramaswamy Srinivasan- Science and 13. Maharashtra Industrial Development Corporation Engineering- Tamil Nadu (MIDC) has inked memorandum of understanding 5. Kottayan K. Venugopal- Public Affairs- Delhi (MoU) with state-run Small Industries Development Bank of India (SIDBI) to provide easy finance to Place in News common people at Kamalasagar in Sipahijala district 1. India's first International Financial Services Centre (IFSC) at Gujarat International Finance Tec (GIFT) City in Gandhinagar district of Gujarat became operational and Finance Minister Arun Jaitley unveiled rules and regulations for this global financial hub. 2. Larsen & Toubro (L&T) has announced signing a memorandum of understanding (MoU) with AREVA of France for co-operation to maximise localisation of the EPR nuclear power plant to be built at Jaitapur, Maharashtra. 3. The National Tiger Conservation Authority (NTCA) has accorded final approval to two national parks i.e. Kudermukh National Park in Karnataka and Rajaji National Park in Uttarkhand for being declared as tiger reserves. 4. State-run BSNL, with the Army's assistance, today operationalised a mobile tower at an altitude of 16,000 feet in Eastern Ladakh region of Jammu and Kashmir. 5. Migrant Resource Centre (MRC) was set up in Chennai by the Union Ministry of Overseas Indian Affairs (MOIA) and Tamil Nadu state government. 6. Rajasthan topped the list of states commissioning grid connected solar power projects in the country with an installed capacity of 1147 megawatt. 7. Maharashtra has officially declared Blue Mormon species as State butterfly as part of state symbols. 8. Election Commission of India (ECI) has suspended recognition of the PA Sangma-led National People‘s Party (NPP) which was a recognized state party in Meghalaya. 9. Jaipur Metro, touted as one of the fastest built metro systems in the country, was thrown open to public. 10. The sprawl of the National Capital Region (NCR) just got bigger as the nod has been given for the inclusion of Muzaffarnagar district of Uttar Pradesh and the Jind and Karnal districts of Haryana. 11. Nitin Gadkari inaugurated the India‘s first of its kind State-of-the-Art Tier-I Oil Spill Response Centre for Mumbai & JNPT Harbour. 12. Second border haat (rural market) was opened for
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agreed on a 17-point road map aimed at 6. C.S Verma steps down as SAIL CMD. strengthening mutual trust and confidence. 7. TN CM O Panneerselvam resigns, makes way for 5. The Loan and Project Agreements for World Bank 4. Dick Costolo resigned as CEO of Twitter Inc. (IBRD) assistance of US$ 400 million for Tamil Nadu 5. Fifa president Sepp Blatter resigned. Sustainable Urban Development Project were signed between the Government of India/ Government of Tamil Nadu and World Bank. 6. India and the US signed a new strategically important 10-year defence framework pact envisaging joint development and manufacture of defence equipment and technology including jet engines, aircraft carrier design and construction. 7. India, Bangladesh make history with land swap - India and Bangladesh sealed a historic agreement that will settle a 41-year-old land boundary dispute through exchange of territories, removing a major irritant in bilateral ties. 8. Union Cabinet meet chaired by Prime Minister Narendra Modi has approved the signing of Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement. 9. India to tie up with Iran for Chabahar port. 10. Government declared 11 pacts that signed between India, Germany at Hannover fair. 11. The Union Cabinet gave its nod for revising the existing double taxation avoidance agreement (DTAA) with South Korea. 12. World's largest steel maker ArcelorMittal and SAIL inked a pact to jointly setup a steel plant in India for the fast growing automotive sector. 13. Gujarat government and Chinese software firm ZTE- soft have entered into an agreement for smart city projects in the state. 14. The India Meteorological Department (IMD) under the Union Ministry of Earth Sciences on 18 May 2015 signed Memorandum of Understanding (MoU) with Power System Operation Corporation Ltd (POSOCO) for optimum use of weather information/forecast in the power sector.
Resign/Retired 1. Vijay Kelkar resigns from Tata Chemicals' Board. 2. United Nation (UN) peace envoy to Yemen, Jamal Benomar has resigned, after losing support from Gulf countries for his mission in the conflict-riven nation. 3. Union Ministry of Statistics and Programme Implementation (MOSPI) has sacked Dr Bimal K Roy as the Director of Indian Statistical Institute (ISI).
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22. ―One Life is Not Enough‖ : written by Kunwar India NatwarSingh 23. A book ―Munger through the Ages‖ authored by late Devendra Prasad Yadav 24. The Lives of Others‖ a novel written by: Neel Mukherjee 25. The Substance and the Shadow: written by Uday Tara Nayar, a former journalist. 26. Blood Feud written by Edward Klein 27. A Bad Character: authored by Deepti Kapoor. 28. The Good, the Bad and the Ridiculous - Khuswant Singh 29. Train To Pakistan - Khuswant Singh 30. An Uncertain Glory: India and its Contradictions - Jean Dreze and Amartya Sen.
Leader’s visited India/World 1. North Korea‘s top diplomat, Ri Su-yong, arrived in India on a rare visit where Delhi hosted the meet. Ri became the first North Korean foreign minister to visit India in at least 25 years. 2. Pranab Mukherjee visited Sweden. 3. Bangladesh President Abdul Hamid arrives in Kolkata on a six-day official visit during which he held talks with the Indian leadership with an aim to further strengthen the already close bilateral relations between the two countries. 4. Tamim bin Hamad Al Thani emir of Qatar visited India from March 24-25, 2015 5. Maithripala Sirisena, President of Sri Lanka visited India February 15-18, 2015
Significance - First foreign visit of the Sri lankan President after taking office on 9 January 2015 6. Nguyen Tan Dung: Vietnam Prime Minister visited
Quick Fix TABLET www.discussstudy.wordpress.com 5. Germany: 12 – 14 April 2. Mongolia: 16 – 17 May Highlights: Highlights: The PM‘s visit to Germany was widely covered by the A.Mongolia and India are keen to move forward on the media there especially his inauguration of the famous MoU for Uranium supply that the two countries had Hannover industrial fair along with German Chancellor entered in 2009. Angela Merkel. B.Mongolia is keen on Indian helping the country in A. Both leaders spoke in favour of a free trade cyber security. agreement between the European Union and India. PM C.Help in border patrolling is another area where the Modi said that this was important for the expansion of two countries will be stepping up the ties. India as a manufacturing hub. * Key person --Chimed Saikhanbileg—PM B.The joint statement by both countries recognized the establishment of a working group on urban
development. * Germany chancellor--- angela merkel
6. France: 9 – 12 April
3. South Korea: 18 – Highlights: 19 May * 20 pacts signed between India and France *Participate in the Make In India programme in Highlights: defense, civil nuclear power and food processing A.His visit to South Korea has a definite Make in India * India asked France to supply 36 Rafale fighter jets in angle to it. ‗fly-away‘ condition B.India is keen on getting investment and going for joint * Key Person-French President Francois Hollande. manufacturing in areas where South Korea has a technological edge. 7. Singapore: 29 March C. In the manufacturing sector, South Korean companies including Samsung, LG and Hyundai that Highlights: A.Prime Minister Modi attended the state-funeral of Lee have strong presence in India. Kuan Yew, * Key person --President Park Geun-hye , Prime * The first Prime Minister of Singapore. minister--Lee Wan-koo * There, at the sidelines, he met several world leaders 4. Canada: 14 – 16 April including Israeli President. *It was his first visit to Singapore and he is expected to Highlights: visit again during the later part of the year for golden * The first official visit by an Indian PM in over 40 jubilee celebration of India-Singapore diplomatic years, is a sure sign that relations between our two relation. countries are reaching new heights. 8. Sri Lanka - 13 – 14 A.The visit, which resulted in several new bilateral March agreements and commercial deals worth over $1.6 billion. Highlights: B. These include energy, railway transportation, 4 agreements with Sri Lanka: education and skills development, space cooperation, * Customs pact to balance trade, and maternal, newborn and child health. * Credit line of more than $300 million, C.One of the commercial agreements signed was for a * Currency swap agreement Canadian company, Cameco, to supply over 3.175 * Visa on arrival for Sri Lankan nationals in India. million kg of uranium concentrate to India over the next * Prime Minister Narendra Modi today flagged off a five years for the generation of electricity. train service at the north-western Sri Lankan town of * Key person --Stephen Harper-PM .The newly-constructed 63-km railway track between
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Madhu Road and Talaimannar Pier is the last segment retirement. of the 265-km long * Key persons—President -Maithripala SirisenaRanil Prime minster --Wickremesinghe
9.Mauritius - 11 – 13 March
* Highlights: AGGREMENTS: Total 5 A.India Offers $500 Million Credit to Mauritius During PM Modi's Visit, 5 Pacts Signed # Indian line of credit of $ 200 million initially meant for the light railway transit system to projects in the water and energy sector. B.Modi was the Chief guest at the Mauritian National Day on 12 March * Key persons--PM of mauritius--aniruthJugnauth
10. Seychelles - 10 - 11 March Highlights: A.AGREEMENTS: Total 4 * Hydrography * Renewable energy * Infrastructure * Development and sale of navigation charts and electronic navigational charts * Key person---President James Alix Michel
Sports News 1. China's Olympic gold medal-winning hurdler Liu Xiang, one of the country's biggest sports stars, has retired. 2. New Zealand cricketer Mills follows Vettori into
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20. Former West Indies fast bowler Wes Hall was game. inducted into the ICC Cricket Hall of Fame. 39. Shooter Gurpreet Singh qualifies for Rio 2016. 21. Sachin Tendulkar, Sourav Ganguly, and VVS Laxman inducted into BCCI's high-powered advisory panel. 22. India has jumped six places to 141st position in the latest rankings released by world football‘s governing body FIFA. 23. De Villiers crowned South African cricketer of the year. 24. BCCI has announced Rahul Dravid as the coach of India A team and Indian U 19 cricket team. 25. Stan Wawrinka stuns Novak Djokovic and Serena Williams wins French Open after beating Lucie Safarova in final. 26. Tintu Luka strikes gold as India finishes 3rd at Asian Athletics Championships. 27. Anantjeet Singh Naruka beat Lari Pesonen of Finland 12-11 in the skeet match for gold in the 7th International junior shotgun cup that concluded in Orimattila, Finland. 28. Forbes list: Dhoni has been ranked 23rd on the Forbes list of The World's Highest-Paid Athletes 2015. 29. Serbia edge Brazil in final to clinch Fifa U-20 World Cup title. 30. Tennis player Rafael Nadal received Golden Medal for Merit in Work of Spain. 31. Indian Railway girls clinch 5th National Hockey Championship title. 32. Geeta Phogat won a bronze medal in the Women's Freestyle 58kg category in the Senior Asian Wrestling championship in Doha. 33. Sakshi Malik and Lalita bagged bronze medal in Women's Freestyle 60kg and 55kg categories, respectively, in the Senior Asian Wrestling Championship in Doha. 34. Nico Rosberg has finally got the better of Mercedes teammate Lewis Hamilton this season, winning the Spanish Grand Prix. 35. Andy Murray beats Rafael Nadal to win Madrid Masters final. 36. Tejaswini Sagar wins gold at Under-15 World School Chess Championship. 37. Gagan Narang won the bronze medal in the 50m Rifle Prone Event of the ISSF World Cup at Fort Benning in USA, earning himself a quota place for the 2016 Rio Olympics. 38. Brad Haddin: Australia wicketkeeper quits one-day
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Australian Open T20: Men's Single - Winner = Novak Djokovic (Serbia), 1. India -2016 Runner Up = Andy Murray (UK) 2 . Australia - 2020 Women's Single - Winner = Serena Williams (USA), Test: Runner Up = Maria Sharapova (Russia) 1. England– 2017 (for first time). 2. India - 2021.
BNP Paribas Open – FIFA (Football) World Cup venue: i. Men's Singles - Novak Djokovic defeated Roger Federer 1. 2018 : Russia ii.Women's Singles - Simona Halep defeated Jelena 2. 2022: Qatar Jankovic Commonwealth Games venues: iii.Men's doubles - Vasek Pospisil/Jack Sock defeated 1. 2014 – Glasgow Simone Bolelli/Fabio Fognini (Scotland). iv.Women's doubles - Martina Hingis / Sania Mirza 2. 2018 – Gold Coast defeated Russia Ekaterina Makarova / Russia Elena (Australia). Vesnina. Olympics Games venues: 1 . 2014 winter: Sochi (Russia) – Russia tops in the medal tally in 2014 winter Olympic games. IPL 2015 2. 2016 Summer: Rio de Janeiro (Brazil) IPL 2015 3. 2018 winter: Pyeongchang (South Korea) Winner IPL 2015 4. 2020 summer: Tokyo (Japan) Mumbai Indians IPL 2015 Runner Up News Related To Defence,Science and Chennai Super Kings Technology Orange Cap 1. Defence Minister Manohar Parrikar launched the David Warner country's first indigenously-built Scorpene Purple Cap submarine at the Mazagaon Dockyard Ltd in Mumbai. Dwayne Bravo 2. Isro IRNSS-1D Launch Puts India a Step Closer to Emerging Player Shreyas Iyer Highest Individual AB De Villiars Score Most Number of Sixes Chris Gayle CRICKET WORLD CUP 2015 Australia defeated Newzealand in the finals of the GAMES VENUES cricket world cup 2015 by 7 wickets. ICC World Cup Cricket Venue: ODI: (One day International): The finals were played at the Melbourne cricket 1. Australia & New ground. Zealand: 2015 . Australia defeated India and Newzealand defeated 2. England - 2019 South Africa respectively in the Semi finals of the world cup. 3. India – 2023 Most Runs – Martin Guptill (New Zealand) 547 runs. Most wickets – Mitchell Starc (Australia) 22 wickets and Trent Boult (Newzealand) 22 wickets. Man of the tournament – Mitchell Starc (Australia) Man of the finals – James Faulkner (Australia)
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successfully test landed on the Yamuna Missiles in use of Indian Army: Expressway in Uttar Pradesh. Prithvi I - 150km - Surface to – Surface short 12. Indian Navy's latest anti-submarine warfare class range ballistic missile. stealth corvette, the INS Kavaratti was launched. Prithvi II - 350km 13. INCOIS launches app for fishermen - The app is Prithvi III - 350km - 600km developed by the Hyderabad-based Indian Agni I - 700km -1250km Surface to – Surface National Centre for Ocean Information Services short range ballistic missile. (INCOIS) Marine Fishery Advisory Services team Agni II - 2000km -3500km 14. India‘s indigenously developed Beyond Visual Agni III - 3500km -5000km Range (BVR) air-to-air missile Astra was Agni IV - 3000km -4000km successfully tested from a Sukhoi- 30 fighter aircraft. Agni V - 5500km -5800km 15. HAL completed integration of BrahMos Agni VI - 8000km -3500km thermonuclear cruise missile with Sukhoi-30MKI Akash- 30 km after over two years of work, modifying the
Russian-made aircraft. 16. NASA launches Earth-observing satellite to track the amount of water locked in soil, which may help
residents in low-lying regions brace for floods or farmers get ready for drought conditions. 17. A Delta 2 rocket carrying Soil Moisture Active Passive (SMAP) satellite was launched from
Vandenberg Air Force Base on California‘s central coast. 18. India successfully test-fired its indigenously
developed, intercontinental surface-to-surface nuclear capable ballistic missile Agni-5, which has a strike range of over 5000 kms and can carry a
nuclear warhead of over one tonne, from Wheeler‘s Island off Odisha 19. SpaceX Falcon 9 rocket successfully launched from Florida
20. Indian Navy had conducted Humanitarian Assistance and Disaster relief (HADR) exercise in Lakshadweep Islands (Kavaratti, Aggatti,
Kalpeni and Androth). HADR was Indian Navy‘s large scale exercise to test its readiness for handling a tsunami like disasters. Business News 21. Cisco Systems picks Visakhapatnam as first ‗smart 1. Snapdeal acquires majority stake both in city' RupeePower and FreeCharge. 22. Visakhapatnam will be the first city to be taken up 2. Online fashion retailer Myntra shut it's website on for development as a ‗smart city‘ by Cisco Systems, 1st May 2015; to be available as a mobile app only the global IT networking major and the 3. Cricketer Yuvraj Singh starts his new innings as implementing company. businessman with YouWeCan Ventures, aiming to 23. India‘s communication satellite GSAT-16 launched support young entrepreneurs by investing in from Kourou in French Guiana functioning startups across sectors. normally. GSAT 16 has highest number of 48 4. Major Indian Steel Companies viz. Steel Authority transponders that will be used for television, of India Limited (SAIL), Tata Steel, JSW Steel of telephone and internet applications. Jindal Group, Jindal Steel and Power Limited, Rashtriya Ispat Nigam Limited (RINL), National
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Metallurgical & Engineering Consultants (India) launched its consumer complaint mobile Limited (MECON) partnered with Union Ministry of application – ASCIonline, to provide consumer Steel to set up Steel Research & Technology complaint services on a mobile app besides Mission. providing the facility online. 5. Following popular outrage against net neutrality Advertising Standard Council of India (ASCI) violations to ―internet apartheid‖, eretailer Flipkart pulled out of the controversial Airtel Zero preferential access platform. 6. Online restaurant guide Zomato announced the acquisition of MaplePOS, a cloud-based point of sale product for restaurants developed by a group of techies from Delhi. 7. Bharat Heavy Electricals Limited (BHEL), an engineering and manufacturing company announced that it has inked a Memorandum of Understanding (MoU) with a Russian company named INTMA with an aim to set up a gas-based power project in Kazakhstan as well as further boost its presence in the CIS countries. 8. Metals and mining conglomerate Sesa Sterlite has changed its name to Vedanta Ltd to better align with its international identity — Vedanta Resources. 9. Iconic business leader Ratan Tata has acquired a stake in Chinese handset maker Xiaomi, the first investment by any Indian in the smartphone maker. 10. Online marketplace Flipkart has acquired Delhi- based mobile engagement and marketing automation company Appiterate. 11. Sunil Mittal-led Bharti Airtel has become the world‘s third largest mobile operator with 303 million subscriber. 12. BRICS bank to be operational by end of 2015: South Africa. 13. Japan headquartered telecommunications and Internet major SoftBank Corp, Bharti Enterprises Limited and Taiwan-based Foxconn Technology Group formed a Joint Venture (JV) named SBG Cleantech Limited. This JV is aimed at promoting the adoption of clean and safe energy in India. 14. State owned telecommunications giant Bharat Sanchar Nigam Limited (BSNL) has announced to set up 40,000 Wireless Fidelity (Wi-Fi) hot spots across the country. 15. National Stock Exchange (NSE) on 22 June 2015 operationalised the Overnight Liquid Transaction facility on its web-based Mutual Fund Service System (MFSS) platform. 16. In a bid to address misleading advertisements, the
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13,600 crore in this fiscal‘s first disinvestment Others approval. 1. Railway Minister Suresh Prabhu introduced the 30. The Government has managed to restrict the fiscal mobile app for paperless unreserved ticketing for deficit to 4 per cent during 2014-15, which is even commuters in Egmore and Tambram suburban below the revised estimate announced in the sections in Chennai under Southern Railway zone. budget. 2. Chhurim Sherpa, first woman to climb the Mount 31. Taxi aggregator TaxiForSure announced a tie-up Everest summit twice in a week. with mobile commerce platform Paytm to enable 3. Operation Raahat was in news as India launched a Paytm users to pay for the cab service through massive air and sea operation to evacuate over their prepaid wallet. 4000 Indian nationals from Yemen 32. IRCTC Partners With MyDala To Offer Deals To 4. India launched a relief and rescue Operation Ticket Buyers. named Maitri in earthquake hit Nepal. 33. Infosys is first Indian company to join RE100 5. The BJP-led NDA government has dropped the global renewable energy campaign. names of former Prime Ministers Indira Gandhi and 34. Reliance Jio Infocomm, the telecom arm of Rajiv Gandhi from two awards. The ‗Indira Gandhi Reliance Industries (RIL) has signed a pact with Rajbhasha Puraskar‘ and ‗Rajiv Gandhi Rashtriya Chinese firm Huawei for sourcing various 4G Gyan-Vigyan Maulik Pustak Lekhan Puraskar‘, devices. launched more than two decades ago, have given way for ‗Rajbhasha Kirti Puraskar‘ and ‗Rajbhasha Days Gaurav Puraskar‘. 1. World Heritage Day was observed across the world 6. Two Indian organizations, India Army and Indian on 18 April 2015. Railways are among the world‘s biggest employers. 2. World Haemophilia Day was observed globally on It was revealed in a research published by the 17 April 2015 with theme Building a family of World Economic Forum (WEF). Both organisations support. employ around 2.7 million people together. 3. International Mother Earth Day was observed 7. The government of India has released stamp s and globally on 22 April 2015 with the theme It‘s our coins of the denomination of Rs.10 and Rs.100 on turn to lead. International Yoga Day (IYD) on June 21. 4. National Panchayati Raj Day was observed across 8. ‗Op DOGA‘ to secure Yoga Day event. India on 24 April 2015 9. Union Government has exempted builders from 5. World Malaria Day (WMD) was observed on 25 obtaining prior green nod for construction of April 2015. The theme for the 2013-2015 campaign Universities, School, College and Hostel facilities. is Invest in the Future. Defeat Malaria. 10. BIS App launched by Union Food and Consumer 6. 14th June: World Blood Donor Day Affairs Minister Ram Vilas Paswan. 7. Kerala Government declares June 22 as ‗Snake Bird 11. Government to Give Rs 6,000 Crore Interest-Free Day‘. Loans to Sugar Mills. 8. India set for World Yoga Day on 21 June 2015. 12. Manu Prakash, who amazed the world last year by 9. World Press Freedom Day is annually observed on building a paper microscope, has now come up May 3 to inform the international community that with a computer that works by moving water freedom of the press and freedom of expression droplets. are fundamental human rights. 13. The country‘s current account deficit (CAD) 10. Russia celebrates victory day on 9th May. narrowed sharply to USD 1.3 billion, or 0.2 per cent 11. Every year, `National Technology Day‘ is observed of Gross Domestic Product (GDP), in the fourth across India on May 11. quarter. The CAD shrank to 1.3 per cent of GDP for 12. The United Nations (UN) observed the full financial year 2014-15. International Day for Biological Diversity (IBD) on 14. The Foreign Investment Implementation Agency, a 22 May 2015. The theme was Biodiversity for brainchild of the former Vajpayee government, is Sustainable Development. set to get a new lease of life under Prime Minister Narendra Modi.
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immunodeficiency virus infection and acquired 2. Union Cabinet has given nod to rename Solar Energy immune deficiency syndrome (HIV/AIDS). Corporation of India (SECI) as the Renewable Energy 16. Department of Atomic Energy (DAE) launched juveniles from eighteen to sixteen years for heinous India Nuclear Insurance Pool (INIP). crimes. 17. China launched world‘s first electric passenger aircraft BX1E. 18. CRPF to adopt village in earthquake-hit Nepal named Karikat village near Birganj in Nepal to provide people immediate relief and help in its reconstruction. 19. Buenos Aires is world‘s bookstore capital. 20. The first centre for Gandhian studies in China inaugurated at Shanghai‘s Fudan University by Prime Minister Narendra Modi. 21. To cash in on growing online shopping trend, India Post Delhi circle will start its e-commerce centre from 11th May 2015. 22. Centre approves Rs. 20,000-crore budget for Namami Gange scheme. 23. Coinciding with the BRICS (Brazil, Russia, India, China and South Africa) summit next year in India, an under-17 football tournament will be played between the nations. The first will be held in India only. 24. Infosys to open first overseas campus in China. 25. A powerful undersea earthquake south of Japan has shaken buildings in Tokyo which was centred 874km (543 miles) from the Japanese capital, at a depth of almost 700m. 26. Nobel peace prize winning organisation OPCW (Organisation for the Prohibition of Chemical Weapons) has achieved major milestone of destroying 90 per cent of the global chemical weapons stockpile. 27. National Association of Software and Services Companies (NASSCOM) and Data Security Council of India have launched NASSCOM Cyber Security Task Force. 28. Finance minister Arun Jaitley had announced the setting up of the National Investment and Infrastructure Fund(NIIF) in the Union Budget. 29. China, the world's biggest gold producer, has set up a gold sector fund involving countries along the ancient Silk Road which is expected to raise $16.1 billion.
Amendments by the Govt.
1. Union Cabinet has approved lowering of age of
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Banking Financial Companies (NBFCs) registered UNION BUDGET with Reserve Bank of India (RBI) above ______Key Highlights - • Quoting PAN a must for all purchases above Rs 1,00,000 • Corporate tax reduced from 30% to 25% over next four years • Defence allocation for this fiscal is Rs 2,46,727 crore. • AIIMS to be set up in J&K, Punjab, Tamil Nadu, Himachal Pradesh and Assam. • Govt to raise visa-on-arrival facilities to 150 countries from 43 • Govt to introduce Indian gold coin with Ashoka sign on it. • Proposal of 5 ultra mega power projects for 4,000 MW each. • Investment in infrastructure to go up by Rs 70,000 crores. • GST to be put in place by April 1, 2016. • All contributions to Sukanya Samridhi scheme to be tax free. • Transport allowance, which is currently Rs 800 per month, has been increased to Rs 1600 per month. • Additional deduction of Rs 50,000 for pension contributions. • Govt increases limit of deduction of health insurance premium from Rs 15,000 to Rs 25,000. • 100% deduction for contribution to Swachch Bharat and Clean Ganga schemes. • Rs 150 core to create world class IT hub in India. • Net gain from tax proposals seen at 150.68 billion rupees in 2015-16. • Direct tax proposals will lead to loss of Rs 8,315 crore; indirect proposal will yield Rs 23,383 crore. • Yoga included in the ambit of charitable purposes under the Income Tax Act.
Questionnaire on Union Budget 1. In the Union Budget, rate of Service Tax was hiked from 12% to ____ - 14% 2. In the Union Budget 2015-16, Fiscal deficit seen at how much per cent of GDP in 2015/16? - 3.9 % 3. How much amount has been allocated to the Rural Infrastructure Development Bank in the Union Budget 2015-16? - Rs. 25,000 crore 4. According to the Union Budget, two new IIM will be opened in which of the following states? - Jammu & Kashmir and Andhra Pradesh 5. According to the Union Budget 2015-16, Non-
Quick Fix TABLET www.discussstudy.wordpress.com 15. According to the Union Budget, Centre of film production, animation and gaming to come up in Highlights of the Economic Survey 2014-15 _____. AP • GDP growth is expected to accelerate to between 8.1 16. On which date Union Budget 2015-16 was on 27 February. presented in Parliament? - 28 February 2015 What is Economic Survey - The Economic Survey 17. Name the Union Finance Minister who presented reviews the developments in the Indian economy over the Union Budget 2015-16 in Parliament? - Arun the previous 12 months, summarises the performance on major development programmes and highlights the Jaitley policy initiatives of the government and the prospects of 18. Personal Income Tax limit was not changed in the economy in the short to medium term. Union Budget 2015-16. What is the present Personal I-T exemption limit? - Rs 2.5 lakh 19. Health Insurance Premium deduction hiked from Rs. 15,000 to? - Rs. 25,000 (for senior citizens to Rs. 30,000) 20. Transport allowance exemption hiked to Rs. 1,600, from ____ per month? - Rs.800 21. PAN card is must for all purchase above ______rupees as proposed in Budget 2015-16? - Rs. 1 lakh 22. An additional _____% surcharge on people earning over Rs. 1 cr was put forth in the budget 2015-16? - 2% 23. What change was made in the Wealth tax? - Wealth tax abolished 24. DTC was dropped in the Budget 2015-16. Expand DTC? - Direct Taxes Code 25. Corporate tax to be reduced from 30% to ___ over next four years? - 25% 26. Mudra banks to be established with capital of Rs.___ crore?- 20000 27. Rs. ____ deduction for contribution to New Pension Scheme?- Rs. 50,000 28. GAAR implementation deferred by 2 years to? - April 2017 29. Service Tax rate hiked to ___% from 12.36%? - 14% 30. Tax free bonds were proposed in budget for? - Roads, railways, irrigation project
ECONOMIC SURVEY
Presented By - Union Finance Minister Arun Jaitely
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• The railways public investment multiplier (the effect Suresh Prabhu – Railways of a 1 rupee increase in public investment in the railways on overall output) is around 5. RAILWAY BUDGET • 1,00,011 Cr. Planning Budget in 2015-16. • Bullet train Corridor to be developed between Mumbai to Ahmedabad. • Rs.2000 cr for Coastal Connectivity Program; Rs.2500 cr through BOT/Annuity route. 1000 MW Solar plant; 100DEMUs to dual fuel • Setting up =Kayakalp‘ to help in Technology Upgradation. • Corporate safety Plans; ISRO to be involved; 3438 level Xings to be eliminated, Rly expense increased by 2600% • MUTP-III project for Mumbai. • Malviya Chair at IIT BHU for Railway technology excellence. • Train Protection Warning Systems and Anti colliding system to be developed by RDSO. • Increase of speed of 9 Trains from 110 km/hr and 130 km/hr to 160 km/hr.to 200 km/hr. • 8.5 lakh crore rupees to be invested in the railways in the next 5 years. • Operating ratio proposed at 88.5%. Best ever in 9 years. • Increase track length by 20 per cent and passenger carrying capacity from 21 to 30 million. • Free Wi-fi facility to B class stations under the scheme of Digital India. • SMS alert on mobile, customer portal promoting digital India campaign. • Bio toilets in trains; airplane type toilets in trains.
CABINET MINISTERS Narendra Modi – Personnel, Public Grievances and Pensions, Department of Atomic Energy, Department of Space, All important policy issues and all other portfolios not allocated to any Minister Rajnath Singh – Home Affairs Sushma Swaraj – External Affairs, Overseas Indian Affairs Arun Jaitley – Finance, Corporate (Additional charge – Affairs Information and Broadcasting) Manohar Parrikar – Defence M Venkaiah Naidu – Urban Development, Housing, Urban Poverty Alleviation, Parliamentary Affairs Nitin Gadkari – Road Transport and Highways, Shipping
Quick Fix TABLET www.discussstudy.wordpress.com UNIDO (United Nations Vienna Madras atomic power plant - Tamilnadu Industrial Dev. Org) Kaiga atomic power plant - Karnataka IAEA (International Atomic Vienna Kundankullam : in Tirunelveli district, Tamil Nadu Energy Agency) (India & Russia) OPEC(Organization of Petroleum Vienna Jaitapur Nuclear Power Plant - Ratnagiri district in Exporting Countries) Maharashtra (India & France) Amnesty International London Important Wildlife Sanctuary in India Commonwealth of Nations London IM(International Maritime London Kaziranga Wildlife Sanctuary - Assam Organization) Manas Wildlife Sanctuary - Assam ICJ (International Court of The Hague Gir National Park & Wildlife Sanctuary- Gujarat Justice) Sundarbans National Park - West Bengal FAO(Food and Agricultural Rome Periyar National Park and Wildlife Sanctuary – Organization) Kerala NATO(North Atlantic Treaty Brussels Kanha National Park - Madhya Pradesh Organization) Bandhavgarh National Park - Madhya Pradesh Transparency International Berlin Ranthambore National Park & Wildlife Sanctuary - SAARC(South Asian Association Kathmandu Rajasthan for Regional Coop.) Bharatpur Bird Sanctuary - Rajasthan ASEAN (Association of South Jakarta East Asian Nations) Tal Chappar Wildlife Sanctuary - Rajasthan APEC (Asia Pacific Economic Singapore Sariska Wildlife Sanctuary - Rajasthan Forum) Chilka Lake Bird Sanctuary – Odissa Organization of Islamic Jeddah Nandankanan Zoo – Odissa Cooperation Corbett National Park – Uttrakhand Thermal Power plants (TPS) in India: Stock Exchanges and their Index: Mundra TPS, Kutch, Gujarat 1. BSE (Bombay Stock Exchange) - SENSEX (Sensitive Vindhyachal TPS, Singrauli, Madhya Pradesh Index)BSE is oldest stock exchange in Asia located Talcher Super TPS, Angul, Odisha at Dalal Street in Mumbai. Sensex Consists of 30 companies. Sipat TPS, Bilaspur , Chhattisgarh 2. NSE (National Stock Exchange) - Nifty-50-NSE is the Korba Super TPS, Chattisgarh largest stock exchange in India. Nifty consists of 50 Rihand TPS, Sonebhadra, Uttar Pradesh companies Jharsuguda TPS, Odisha 3. NYSE ( Newyork Stock Exchange) - DJ (Dow Jones)- Tiroda TPS, Maharashtra NYSE world's first and largest stock market Anpara TPS – Uttar Pradesh 4. ASDAQ (National association of securities dealers Barauni TPP – Bihar Automated Quotation System)- NASD-100-NASDAQ Bellary TPP – Karnataka is the firstelectronic stock market in the world Durgapur TPP – West Bengal located in New York. Sikka TPS – Gujarat 4. Tokyo Stock Exhange ( Japan) - Nikkei-225 Satpura TPS – Madhya Pradesh 5. Korea Stock Exchange( Seoul, South korea) – Kospi Singrauli Super Thermal Power Station – UP 6. Shenghai Stock Exchange( China)- Composite Index Wanakbori TPS – Gujarat 7. Shenzen Stock Exchange( China)- Composite Index 8. German Stock Exchange- DAX( Deutscher Aktein Nuclear power plants in India: Index) Narora atomic power plant - Narora, UP 9. Hong Kong Stock Exchange- Hang Seng Rajasthan atomic power plant: Rawatbhatta, 10. . SGX(Singapore Exchange)- STI (Straits Times Rajasthan (India & Candada) Index) Tarapur atomic power plant – Maharashtra (India & 11. LSE (London Stock exchange) or UK stock US) exchange-Footsie or FTSE-100 (Financial Times and Kakarpar atomic power plant - Gujarat London Stock Exchange)
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12. France Stock Exchange - CAC-40 (Cotation Assistee organization established on 24 October 1945 to en Continuo) promote international co-operation.
Credit Rating Agencies in India and World: Indian credit rating industry mainly comprises of CRISIL, ICRA, CARE, ONICRA, FITCH (India Ratings & Research) & SMERA. CRISIL - Credit Rating Information Services of India Limited, Headquarter – Mumbai ICRA - Investment information and credit rating agency Headquarter - Gurgaon, India CARE - Credit Analysis and Research Headquarters – Mumbai ONICRA - Headquarter - Gurgaon, India SMERA - Headquarters – Mumbai Fitch (India Ratings & Research) - Headquarters – Mumbai Note: CRISIL is the largest credit rating agency in India, with a market share of greater than 60% Standard & Poor's (S&P) – Headquarter – New York, US Moody's – Headquarter - New York, US Fitch - Headquarter - New York, US
Index/Reports Issued by different organizations in World: World Economic Outlook is published by: International Monetary Fund (IMF). Global Hunger Index is issued by: International Food Policy Research Institute Global Peace Index is issued by: Institute for Economics and Peace Global Corruption Index is issued by: Transparency International Global Competitiveness Index is issued by: World Economic Forum Human Development Report is issued by: United Nations Development Programme (UNDP) Gender Inequality Index is issued by: United Nations Development Programme (UNDP)
Important Organizations: 1. United Nation (UN) – is an intergovernmental
Quick Fix TABLET www.discussstudy.wordpress.com questions submitted to it by duly authorized 8. APEC – Asia – Pacific Economic international branches, agencies, and the UN General Cooperation –is a forum for 21 Pacific Rim member Assembly. economies that seeks to promote free trade and Headquarter The Hague, Netherlands. economic cooperation throughout the Asia-Pacific Chief Ministers of India 2015 region. It was established in 1989 1. Andhra Pradesh - N.Chandrababu Naidu Headquarter – Singapore Member – 21 2. Arunachal Pradesh - Shri Nabam Tuki 3. Assam - Shri Tarun Gogoi
4. Bihar - Shri Nitish Kumar 5. Chhattisgarh - Dr. Raman Singh
6. West Bengal - Km. Mamta Benerji 7. Goa - Laxmikant Parsekar 8. Gujarat - Smt. Anandiben Patel
9. Haryana - Manohar Lal Khattar 10. Himachal Pradesh - Shri Virbhadra Singh 11.
Jammu & Kashmir - Mufti Mohammad Sayeed 12. Jharkhand - Raghuvar Das 13. Karnataka - Shri Siddaramaiah
14. Kerala - Shri Oommen Chandi 15. Madhya Pradesh - Shri Shivraj Singh Chouhan 9. OPEC (Organization of the Petroleum 16. Maharashtra - Devendra Fadnavis Exporting Countries) is an international organization 17. Manipur - Shri Okram Ibobi Singh and economic cartel whose mission is to coordinate the 18. Meghalaya - Dr. Mukul Sangma policies of the oil-producing countries. 19. Mizoram - Shri Pu Lalthanhawla Headquarter – Vienna, Austria , Member - 12 member 20. Nagaland - Shri. T R Zeliang countries. 21. Odisha - Shri Naveen Patnaik President - Diezani Alison-Madueke 22. Tripura - Shri Manik Sarkar 10. NATO (North Atlantic treaty Organization): 23. Punjab - Shri Parkash Singh Badal NATO‘s essential purpose is to safeguard the freedom 24. Rajasthan - Smt. Vasundhara Raje and security of its members through political and 25. Sikkim - Shri Pawan Kumar Chamling military means. 26. Tamil Nadu - Selvi J. Jayalalithaa Headquarter – Brussels, Belgium Member – 28 Member 27. Telangana - K Chandrasekhar Rao Narasimhan Countries. 28. Uttar Pradesh - Shri Akhilesh Yadav 29. Uttarakhand - Shri Harish Rawat 11. SAARC (South Asian Association of Regional Co-Operation): is an economic and geopolitical organization of eight countries that are primarily located in South Asia or the Indian subcontinent. Headquarter – Kathmandu, Nepal – 8 Member Countries. Secretary-General: Arjun Bahadur Thapa.
12. ICJ (International Court of Justice): is the primary judicial branch of the United Nations. It is based in the Peace Palace in The Hague, Netherlands. Its main functions are to settle legal disputes submitted to it by states and to provide advisory opinions on legal
Quick Fix TABLET www.discussstudy.wordpress.com REGULATORIES BODIES IN INDIA
Regulator Sectors Chairman Headquarter Reserve Financial Raghuram Mumbai Bank of system and Rajan India monetary policy, Money Market Securities Security & U.K. Sinha Mumbai and Capital Exchange Market, Board of stock India broking & (SEBI) Merchant Banking, Nidhis, Chit Fund Insurance Insurance T.S. Hyderabad Regulatory industry Vijayan and Developme nt Authority (IRDA) Telecom Telecommu Rahul New Delhi Regulatory nication Khullar Authority of Industry India (TRAI) Forward Commodity Ramesh Mumbai Markets Market Abhishek Commissio n Pension Pension Hemant New Delhi Fund sector Contractor Regulatory Developme nt Authority (PFRDA)
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IMPORTANT DAYS(TRICKS) 8 women ki 12 kidney 15 consumers ko 20 sparrow ke through khushi khushi 21 forest me 22 water boat 1. January: ke jariye 23 metro stations par 24 T.B ke marizo ko In January there are 5 important days becha gaya. 1)12 jan-National youth day (rashtriya yuva diwas) Note- 20,21,22,23,24 days in sequence To bs tory 2. 15 jan-Army day (sena diwas) yaad rkhey. 3)24 jan-National girl child day (rashtriya balika diwas)
4. 25 jan- National tourism day/ voter day 5. 30 jan- National martyr day(rashtriya shahid diwas)/ Anti leprosy day 4. April: Story subject- January me mere ghar 5 tarah ke 1. 2 april -Autism awareness day in short log aaye (AADami)/World autism day 2. 7 april- world health day Trick with story- January me mere ghar paanch 3. 21 april- Civil service day tarah ke log aaye 4. 22 april- Earth day jinme 12 yuva,15 sena ke log,24 balikaye,25-25 5. 24 April- National Panchayati Raj day tourism aur voter or 30 shahid ke parivar ke log jo No. Of days=5 leprosy ke shikar the. Subject-chaar (april is 4th month) ka paanch Note-12,15,24,25,30 is days. Trick with story- (2) February: 2 AADamiyo be acche helath ke sath (7) 21 baar civil 1. 4 feb- world Cancer day service ka exam diya or ve do do (22) bar is dharti 2. 28 feb-National Science day (earth) par pass hue or end me 24 vi baar me unhe In February only 2 important days. Panchayat vibhag mila. (Hard work pays off) No of days-2(both related to science) 5. May: Story subject- February me science ne 2 1. 1 may- international labour day experiment kiye 2. 3 may- world press freedom day 3. 11 may- National technology day Trick-" February me science ne do experiment kiye jinme 4 cancer ke marizo ko thik karne 4. 21 may- Anti- terrorism day/death of Rajiv gandhi me 28 vigyan(science) ka use hua". 5. 31 may- Anti-Tobacco day No. Of days=5 3. March: 1)8 mar- International women day Subject - Paanch ka panch 2. 12th Mar-world kidney day Trick with story- 3. 15 mar-world consumer right day 1 (ek) Rajiv naam ka labour tha jisey 3 press (stri) free me miley the jo 11vi sadi ki technology se bane 4)20 mar- world sparrow day/happiness day(khushi the par 21vi sadi me kuch terrorist ne Rajiv ko mar kar diwas) usey 31 rupaye me Tobacco company ko bech diya. 5. 21 mar- World forest day 6. June: 6. 22 mar- world water day 1. 5 june- World environment day ( everyone knows) 7. 23 mar- meteorological day 2. 21 june- World Yoga day ( latest hai sb jante hai) 8. 24 mar- World T.B day No. Of days=8 7. july 1. 1 july - National Doctor's day Note-(because of all days are WORLD days) 2. 11july - world population day Subject- march ki 8 world famous Ghatnaye No. Of days- 2 Trick with story-
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(11) November: Subject- Sath(7)-sath (7) 2 kadam chale 1. 17 Nov- World Students day 2. 18 nov- World Adults day
3. 19 nov- World Citizens day Trick with Story- 4. 26 nov- National laws day No.of days= 4 1 doctor ne san 20'11' ke population ko control kiya. Subject - 11×4=44 ( means in nov. four days) (8) August: Trick with story - 1. 6 August- hiroshima day "17 saal ke students jab 18 saal ke adults hue to unhe 2. 9 aug- Nagasaki day 18 saal ke Citizens ne unhe 26 national laws 3. 12 aug- International youth day sikhaye". 4. 29 aug- National Sports day/ Dhyan chand day No. Of days=4 Note- (17,18,19) saal ke Subject - 8(aug) ka adha 4 bachhe (12) December: Trick with story- 1. 1 dec- AIDS day "6 heros ne 9 naago ko 12 saal ke youth ko 29 bar 2. 2 dec- World computer literacy day dhyan se khelne ko diya". 3. 4 dec- Navy day (9) September: 4. 10-dec- human rights day 1. 5 sept- teacher's day 5. 14 dec- National Energy Conservation Day 2)8 sept- world literacy day 6. 24 dec- national consumers day 3. 14sept- Hindi diwas 7. 25 dec- Good governance day(India) 4. 15 sept- Engineer's day in India No. Of days- 7 5. 16 sept- World Ozone day Subject - December ke sath sath (7) saal bhi chala No. Of days=5 gaya. Subject - "5 sept. Ko teacher's day hota hai"( hum Tricks with story- sabhi jante hai iska mtlb sept. Me 5 days hote hai) "1 Add (AIDS) me likha tha 2 computer literate ki jarurt hai 4 dino ke ander Navy me jiske liye 10 human Ab baki ke 4 days ne apne rights ke sath apply kiya or 14 dec. Ko full Trick with story- energy ke sath interview diya or 24 ghante me unhe "8 world ke literate person ko 14 hindi pe,15 national consumers ki post mili , is tarah 25 saal me engineering pe or 16 Ozone day pe essay likhwaya unhe Good gav. Job mil gai" :)) gaya". TWO SAME DAYS FUNDA: Note-14,15,16 continue so remember story only 1. 12 jan- National youth day (10) October: 2. 12 aug- International youth day 1. 2 oct- National non violence day/Gandhi day Trick- "jane na (national) you(youth) ko kya oogI 2. 8 oct- Airforce day (aug- International) ho you(youth)" 3. 9 oct- world post office day 1)15 mar- World consumers rights day 4. 24 oct- United nation day 2. 24 dec- National consumer rights day No. Of days=4 Subject - oct. Me RRB-IV ka result ayega. Trick- Pahle consumers march me world me aaye 2oct ko gandhi ji ne Ahinsa(non-violence) ka nara rights lene fir December me india (nation) me rights diya. liya. Trick with story for remaining 3. "8 Airforce ne 9 letters post kiye 24 UN countries ko"
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