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RBI Current Reserve Ratios and Policy Rates
Bank Rate
Repo Rate
Reverse Repo Rate
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 nonscheduled 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
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
profit. These banks exist for no other reason than
generating capital. Cooperative banks technically
constitute cooperative institutions with an elected
managing committee, provisions for the protection of
members' rights and a set of communally developed
and approved by laws and amendments.



RBI is the central Bank of India and controls the entire
money issue, circulation the entire money issue,
circulation and control by its monetary policies and
lending policies by periodical updates or corrections to
discipline the economy. It is also known as the bank of
last resort.
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Establishment: The reserve bank of India was

established on April 1, 1935 in accordance with the
provisions of the Reserve Bank of India Act, 1934. The
Central Office of the Reserve Bank of India was initially
established in Calcutta but was permanently moved to
Mumbai in 1937. Though originally privately owned,
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 countrys 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.
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
order" is written on the face of the cheque, the cheque
is called an order cheque. Such a cheque is payable to
the person specified therein as the payee, or to any one
else to whom it is endorsed (transferred).


3. Crossed Cheque
Crossing of cheque means drawing two parallel lines on
the face of the cheque with or without additional words
like "& CO." or "Account Payee" or "Not Negotiable". A
crossed cheque cannot be encashed at the cash counter
of a bank but it can only be credited to the payee's
4. Ante-Dated Cheque
If a cheque bears a date earlier than the date on which
it is presented to the bank, it is called as "ante-dated
cheque". Such a cheque is valid upto 3 months from the
date of the cheque.
5. Post-Dated Cheque
If a cheque bears a date which is yet to come (future
date) then it is known as post-dated cheque. A post
dated cheque cannot be honoured earlier than the date
on the cheque.
6. Stale Cheque
If a cheque is presented for payment after 3 months
from the date of the cheque it is called stale cheque. A
stale cheque is not honoured by the bank.
7. A self cheque
A self cheque is written by the account holder as pay
self to receive the money in the physical form from the
branch where he holds his account.
Terms in reference to BANKING
Repo Rate
Repo rate is the rate of interest which is levied on
Short-Term loans taken by commercial banks from
RBI. Whenever the banks have any shortage of funds
they can borrow it from RBI. A reduction in the repo
rate will help banks to get money at a cheaper rate.
When the repo rate increases, borrowing from RBI
becomes more expensive.
Reverse Repo Rate
This is exact opposite of Repo rate. Reverse repo rate is
the rate at which commercial banks CHARGE on their
surplus funds with RBI. RBI uses this tool when it feels
there is too much money floating in the banking
system. Banks are always happy to keep money with
RBI since their money is in the safe hands with a good
interest. An increase in Reverse repo rate can cause the
banks to transfer more funds to RBI due to these
attractive interest rates.



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CRR Rate
Cash reserve Ratio (CRR) is the amount of cash funds
that the banks have to maintain with RBI. If RBI
decides to increase the percent of this, the available
amount with the banks comes down. RBI is using this
method (increase of CRR rate), to drain out the
excessive money from the banks.
SLR Rate
SLR (Statutory Liquidity Ratio) is the amount a
commercial bank needs to maintain in the form of cash,
or gold or government approved securities (Bonds)
before providing credit to its customers. SLR is
determined and maintained by the RBI in order to
control the expansion of bank credit. SLR is determined
as the percentage of total demand and time liabilities.
Time Liabilities are the liabilities a commercial bank is
liable to pay to the customers after a specific time
period. SLR is used to control inflation and proper
growth. Through SLR tuning, the money supply in the
system can be controlled efficiently.
Bank Rate
Bank rate is the rate of interest which is levied on Long
Term loans and Advances taken by commercial banks
from RBI. Changes in the bank rate are often used by
central banks to control the money supply.
MSF Rate:-MSF (Marginal Standing Facility Rate) is the
rate at which banks can borrow overnight from RBI.
This was introduced in the monetary policy of RBI for
the year 2011-2012. Banks can borrow funds through
MSF when there is a considerable shortfall of liquidity.
This measure has been introduced by RBI to regulate
short-term asset liability mismatches more effectively.
Base Rate:-The Base Rate is the minimum interest
rate of a Bank below which it cannot lend, except for
DRI advances, loans to bank's own employees and loan
to banks' depositors against their own deposits. (i.e.
cases allowed by RBI).

Bhattacharya was the chairman of RBI. Under this

instrument of credit regulation RBI as per the guideline
authorizes the banks to advance loans to desired
Open Market Operations:-An open market operation
is an instrument of monetary policy which involves
buying or selling of government securities from or to
the public and banks.
Moral Suasion:-Moral Suasion is just as a request by
the RBI to the commercial banks to take so and so
action and measures in so and so trend of the
economy. RBI may request commercial banks not to
give loans for unproductive purpose which does not add
to economic growth but increases inflation.
Special Drawing Rights (SDRs):-It is a reserve
asset (known as Paper Gold) created within the
framework of the International Monetary Fund in an
attempt to increase international liquidity, and now
forming a part of countries official forex reserves along
with gold, reserve positions in the IMF and convertible
foreign currencies.
ATM: ATMs are Automatic Teller Machines, which do
the job of a teller in a bank through Computer Network.
ATMs are located on the branch premises or off branch
premises. ATMs are useful to dispense cash, receive
cash, accept cheques, give balances in the accounts
and also give mini-statements to the customers.
Bouncing of a cheque: Where an account does not
have sufficient balance to honour the cheque issued by
the customer, the cheque is returned by the bank with
arrangement". This is known as 'Bouncing of a cheque'.
Demat Account:
The term "demat", in India, refers to a dematerialised
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 a temporary shortage of cash. Bridge loan covers
this period between the buying the new and disposing
of the old one.

Endorsement: When a Negotiable Instrument

contains, on the back of the instrument an
endorsement, signed by the holder or payee of an order
instrument, transferring the title to the other person, it
is called endorsement.

Credit Authorization Scheme:-Credit Authorization

Scheme was introduced in November, 1965 when P C

Merchant Banking : When a bank provides to a

customer various types of financial services like




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accepting bills arising out of trade, arranging and

providing underwriting, new issues, providing advice,
information or assistance on starting new business,
acquisitions, mergers and foreign exchange.
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.

reliable and expeditious system of funds transfer and

clearing in the banking sector throughout India, and to
relieve the stress on the existing paper-based funds
transfer and clearing system called National Electronic
Funds Transfer System (NEFT System).

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
industries. NABARD is an apex Development Bank that
facilitates credit flow for promotion and development of
agriculture, small-scale industries, cottage and village
industries, handicrafts and other rural crafts.
GAAR: The full form of GAAR is : General AntiAvoidance Rules. Tax Avoidance is an area of concern
across the world. The rules are framed in different
countries to minimize such avoidance of tax. It is a set
of general rules enacted so as to check the tax
BPLR: In banking parlance, the BPLR means the
Benchmark Prime Lending Rate. However, with the
introduction of Base Rate (explained below), BPLR has
now lost its importance and is made applicable normally
only on the loans which have been sanctioned before
the introduction of Base Rate (i.e. July 2010).
Prime Lending Rate (PLR): The rate at which banks
lend to their best (prime) customers. It is usually less
than normal interest rate.
Wholesale Banking: Wholesale banking is different
from Retail Banking as its focus is on providing for
financial needs of industry and institutional clients.
National Electronic Funds Transfer System
(NEFT): RBI introduced an electronic funds transfer
system to facilitate an efficient, secure, economical,


RTGS: RTGS is an acronym that stands for Real Time

Gross Settlement. RTGS is a funds transfer system
where money is moved from one bank to another in
real-time, and on gross basis. When using the banking
method, RTGS is the fastest possible way to transfer
money. Real-time means that the payment transaction
isnt subject to any waiting period. The transaction will
be completed as soon as the processing is done, and
gross settlement means that the money transfer is
completed on a one to one basis without clustering with
another transaction. This system is maintained by the
RBI, and is available during working days for a given
number of hours. Banks using RTGS need to have Core
banking to be able to initiate RTGS transactions.
Money Market - The money market is a wholesale
debt market for low-risk, highly-liquid, short-term
instrument. Funds are available in this market for
periods ranging from a single day up to a year. This
market is dominated mostly by government, banks and
financial institutions.
Capital Market - The capital market is designed to
finance the long-term investments. The transactions
taking place in this market will be for periods over a
Forex Market - The Forex market deals with the
multicurrency requirements, which are met by the
exchange of currencies. Depending on the exchange



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rate that is applicable, the transfer of funds takes place

in this market.
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.

year). They are issued at a discount to the face value,

and on maturity the face value is paid to the holder.
The rate of discount and the corresponding issue price
are determined at each auction.

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
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.

4. Certificate of Deposits:- Receipt issued by a

depository institution (such as a bank, credit union, or a
finance or insurance company) to a depositor who
opens a certificate account or time deposit account.
Issued in a negotiable or non-negotiable form, it states
the (1) amount deposited, (2) rate of interest, and (3)
minimum period for which the deposit should be
maintained without incurring early withdrawal penalties.
5. Commercial Paper: An unsecured obligation issued
by a corporation or bank to finance its short-term credit
needs, such as accounts receivable and inventory.
Commercial paper is available in a wide range of
denominations, can be either discounted or interestbearing, and usually have a limited or nonexistent
secondary market.
Other Financial Terminology
Personal Identification Number (PIN):-An account
holder has a secret number or code to authorize a
transaction or obtain information regarding his or her
account often used in conjunction with a plastic card

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 stated period from the
date of issue (14/91/182/364 days i.e. less than one


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(ATM or Debit Card), online account access or with a

telephone voice response system.
Foreign Exchange Reserves:- Foreign-exchange
reserves currency central banks gold, special drawing
rights International Monetary Fund (also called forex
reserves or FX reserves) in a strict sense are 'only'
the foreign deposits and bonds held by and monetary
authorities. However, the term in popular usage
commonly includes foreign exchange and (SDRs), and
(IMF) reserve positions.
NRI Banking:- Banks allow NRIs to open an NRI
account when they complete the account opening
formalities. A customer for this purchase a form has to
be filled up in which the information soughtly the bank
is provided. They can have a NRI Saving Bank Account,
Current Account, Fixed Deposits in Indian Rupees, Fixed
Deposits in foreign currency, NRO account (Rupee
account for crediting income in India)
Capital Adequacy Ratio (CAR):- Capital adequacy
ratio measures the amount of a banks capital
expressed as a percentage of its credit exposure.
Globally, the capital adequacy ratio has been developed
to ensure banks can absorb a reasonable level of losses
before becoming insolvent. Indian banks are expected
to maintain a minimum capital adequacy ratio of 9 per
cent (Rs 9 as capital for every Rs 100 in loan or asset)
Asset Liability Mismatch:-In finance, an assets
liabilities assetliability mismatch occurs when the
financial terms of an institution's and do not
Initial Public Offerings (IPOs): When a company
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
investors 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.
Follow on Public Offer (FPO)
When a listed company makes another public issue to
raise further capital it is known as follow on public offer.



Money is a thing that is usually accepted as payment
for goods and services as well as for the repayment of
debts. Money originated as commodity money, but
almost all contemporary money systems are based on
concept of fiat money.
Commodity Money - Commodity money value is
derived from the commodity out of which it is made.
The commodity itself represents money, and the money
is the commodity. For instance, commodities that have
been used a Medium of exchange include gold,
silver, copper, salt, peppercorns, rice, large stones, etc.
Representative Money - is money that includes
token coins, or any other physical tokens like
certificates, that can be reliably exchanged for a fixed
amount/quantity of a commodity like gold or silver.
Fiat Money - Fiat money, also known as fiat
currency is the money whose value is not derived from
any intrinsic value or any guarantee that it can be
converted into valuable commodity (like gold). Instead,
it derives value only based On government order (fiat)
Commercial Bank Money - Commercial bank
money or the demand deposits are claims against
financial institutions which can be used for purchasing
goods and services
Mutual Funds
Mutual Fund is a company which collects the savings of
a large number of investors for investment purposes.
Mutual Funds invest in capital markets like stocks and
other securities. The professional fund manager selects
appropriate securities based on company profile and
market conditions for capital appreciation.

Non Banking Financial Companies (NBFCs)

Non Banking Financial Company (NBFC) is a company
registered under the Companies Act 1956, and is



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engaged in the business of loans and advances,

acquisition of stocks, debentures, hire purchase.
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.
There are three types of negotiable instruments which
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.

Passports and other valid identification proofs are

required for opening the accounts. Authorised Dealer
banks are also required to follow the Know Your
Customer norms while opening of the accounts.
What credits can be made to such accounts?
Funds remitted from outside India through banking
channel or those obtained by sale of foreign exchange
brought by the tourists to India can be credited to the
NRO account.
Can the NRO account be used for making local
Yes. Tourists can freely make local payments through
the NRO account. All payments to residents exceeding
INR 50,000 can be made only by means of cheques /
pay orders / demand drafts.
b) EEFC A/c
What is an EEFC Account and what are its
Ans. Exchange Earners' Foreign Currency Account
(EEFC) is an account maintained in foreign currency
with an Authorised Dealer i.e. a bank dealing in foreign
exchange. It is a facility provided to the foreign
exchange earners, including exporters, to credit 100 per
cent of their foreign exchange earnings to the account,
so that the account holders do not have to convert
foreign exchange into Rupees and vice versa, thereby
minimizing the transaction costs.
Who can open an EEFC account?
Ans. All categories of foreign exchange earners, such
as individuals, companies, etc. who are resident in
India, may open EEFC accounts.
What are the different types of EEFC accounts?
Can interest be paid on these accounts?
Ans. An EEFC account can be held only in the form of a
current account. No interest is payable on EEFC
Accounts for NRI/PIO
What are the different types of accounts which
can be maintained by an NRI/PIO in India?
Types of accounts which can be maintained by an NRI /
PIO in India:

What are the documents required for opening

such accounts?




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A. Non-Resident Ordinary Rupee Account (NRO

NRO accounts may be opened / maintained in the form
of current, savings, recurring or fixed deposit accounts.
Interest rates offered by banks on NRO deposits cannot
be higher than those offered by them on comparable
domestic rupee deposits.
Account should be denominated in Indian Rupees.
Permissible credits to NRO account are transfers from
rupee accounts of non-resident banks, remittances
received in permitted currency from outside India
through normal banking channels, permitted currency
tendered by account holder during his temporary visit
to India,
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
financial year, subject to payment of applicable taxes.
The limit of USD 1 million per financial year includes
sale proceeds of immovable properties held by
B. Non-Resident (External) Rupee Account (NRE
1) NRE account may be in the form of savings, current,
recurring or fixed deposit accounts.
2) Such accounts can be opened only by the nonresident himself and not through the holder of the
power of attorney.
3) Account will be maintained in Indian Rupees.
4) Accrued interest income and balances held in NRE
accounts are exempt from Income tax.
5) Authorised dealers/authorised banks may at their
discretion allow for a period of not more than two
overdrawings in NRE savings bank accounts, up to a
limit of Rs.50,000.
6) Loans up to Rs.100 lakh can be extended against
security of funds held in NRE Account either to the
depositors or third parties.
C. Foreign Currency Non Resident (Bank)
Account FCNR (B) Account
FCNR (B) accounts are only in the form of term
deposits of 1 to 5 years
Account can be in any freely convertible currency.


Loans up to Rs.100 lakh can be extended against

security of funds held in FCNR (B) deposit either to the
depositors or third parties.
The interest rates are stipulated by the Department of
Banking Operations and Development, Reserve Bank of
Which banks are insured by the DICGC?
Commercial Banks: All commercial banks including
branches of foreign banks functioning in India, local
area banks and regional rural banks are insured by the

What does the DICGC insure?

In the event of a bank failure, DICGC protects bank
deposits that are payable in India. The DICGC insures
all deposits such as savings, fixed, current, recurring,
etc. except the following types of deposits.
(i) Deposits of foreign Governments;
(ii) Deposits of Central/State Governments;
(iii)Inter-bank deposits;
(iv) Deposits of the State Land Development Banks with
the State co-operative bank;
(v) Any amount due on account of any deposit received
outside India
(vi) Any amount, which has been specifically exempted
by the corporation with the previous approval of
Reserve Bank of India.
What is the maximum deposit amount insured by
the DICGC?
Each depositor in a bank is insured upto a maximum of
Rs.1,00,000 (Rupees One Lakh) for both principal and
interest amount held by him in the same capacity.
Does the DICGC insure just the principal on an
account or both principal and accrued interest?
The DICGC insures principal and interest upto a
maximum amount of Rs. One lakh.

Are deposits in different banks separately

Yes. If you have deposits with more than one bank,
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 payable

by the depositor?
Yes. Banks have the right to set off their dues from the
amount of deposits. The deposit insurance is available
after netting of such dues.

account holders can transact a maximum of five

transactions free at other bank ATMs in a month, which
is inclusive of all types of transactions, financial and
non-financial, beyond which the customer can be
charged by his/her bank.

Can any insured bank withdraw from the DICGC

No. The deposit insurance scheme is compulsory and
no bank can withdraw from it.

Is there any minimum and maximum cash

withdrawal limit per day?
Yes, broadly the withdrawal limits are set by the card
issuing banks. This limit is displayed at the respective
ATM locations.

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
In addition to cash dispensing ATMs may have many
services/facilities enabled by the bank owning the ATM
such as:
Account information
Cash Deposit
Regular bills payment
Purchase of Re-load Vouchers for Mobiles
Mini/Short Statement
Loan account enquiry etc.
How can one transact at an ATM?
For transacting at an ATM, the customer inserts /swipes
his/her Card in the ATM and enters his/her Personal
Identification Number(PIN) issued by his/her bank.
What is Personal Identification Number (PIN)?
PIN is the numeric password which is separately mailed
/ handed over to the customer by the bank while
issuing the card. Most banks require the customers to
change the PIN on the first use.
Can these cards be used at any bank ATM in the
country? Is the customer charged for the same?
Yes. The cards issued by banks in India may be used at
any bank ATM within India. However the savings bank


What steps should a customer take in case of

failed ATM transaction at other bank ATMs,
where his account is debited?
The customer should lodge a complaint with the card
issuing bank at the earliest. This process is applicable
even if the transaction was carried out at another
banks ATM.
Is there any time limit for the card issuing banks
for re-crediting the customers account for a
failed ATM transaction?
As per the RBI instructions, banks have been mandated
to resolve customer complaints by re-crediting the
customers account within 7 working days from the date
of complaint.
Are the customers eligible for compensation for
delays beyond 7 working days?
Yes. Effective from July 1, 2011, banks have to pay
customers Rs. 100/- per day for delays beyond 7
working days. The compensation has to be credited to
the account of the customer without any claim being
made by the customer.



Page 9


i. The Banking Ombudsman Scheme enables a bank
customer for filing of complaints relating to certain
services rendered by banks.
ii. The Banking Ombudsman is a senior official
appointed by the Reserve Bank of India to redress
customer complaints against deficiency in certain
banking services.
iii. All Scheduled Commercial Banks, Regional Rural
Banks and Scheduled Primary Co-operative Banks are
covered under the Scheme.
Other Important Points:
4) The Banking Ombudsman does not charge any fee
for filing and resolving customers complaints.
5) The maximum compensation which a BO can help a
complainant to get is Rs. 10 lakhs.
6) If a complaint is not settled by an agreement within
a period of one month, the Banking Ombudsman
proceeds further to pass an award. Before passing an
award, the Banking Ombudsman provides reasonable
opportunity to the complainant and the bank, to
present their case.
7) If one is not satisfied with the decision passed by the
Banking Ombudsman, one can approach the appellate
authority who is the Deputy Governor of the RBI.
1) There are a total of 27 PSBs in India [21
NationaliZed banks + 6 State bank group (SBI + 5
2) At present there are 22 Private Banks functioning in
3) At present there are 56 RRBs (Regional Rural Banks )
functioning in India.
4) At present there are 41 Foreign Banks functioning in
The salient features of the guidelines are as under:(i) Categories of the priority sector: Medium Enterprises,
Social Infrastructure and Renewable Energy will form part
of priority sector, in addition to the existing categories.
(ii) Agriculture: The distinction between direct and indirect
agriculture is dispensed with.
(iii) Small and Marginal Farmers: A target of 8 percent of
ANBC or Credit Equivalent Amount of Off-Balance Sheet
Exposure, whichever is higher, has been prescribed for
Small and Marginal Farmers within agriculture, to be
achieved in a phased manner i.e., 7 percent by March
2016 and 8 percent by March 2017.


(iv) Micro Enterprises: A target of 7.5 percent of ANBC or

Credit Equivalent Amount of Off-Balance Sheet Exposure,
whichever is higher, has been prescribed for Micro
Enterprises, to be achieved in a phased manner i.e. 7
percent by March 2016 and 7.5 percent by March 2017.
(v) There is no change in the target of 10 percent of ANBC
or Credit Equivalent Amount of Off-Balance Sheet
Exposure, whichever is higher, for Weaker Sections.
(vi) Target for Foreign Banks: Foreign Banks with 20
branches and above already have priority sector targets
and sub-targets for Agriculture and Weaker Sections,
which are to be achieved by March 31, 2018 as per the
action plans submitted by them and approved by RBI.
Foreign banks with less than 20 branches will move to
Total Priority Sector Target of 40 percent of ANBC or
Credit Equivalent Amount of Off-Balance Sheet Exposure,
whichever is higher, on par with other banks by 2019-20,
and the sub-targets for these banks, if to be made
applicable post 2020, would be decided in due course.
(vii) Bank loans to food and agro processing units will form
part of Agriculture.
(viii) Export credit: Export credit upto 32 percent of ANBC
or Credit Equivalent Amount of Off-Balance Sheet
Exposure, whichever is higher, will be eligible as part of
priority sector for foreign banks with less than 20

PSL in detail
1. What is meant by Priority Sector?
Priority sector refers to those sectors of the economy
which may not get timely and adequate credit in the
absence of this special dispensation. Typically, these
are small value loans to farmers for agriculture and
allied activities, micro and small enterprises, poor
people for housing, students for education and other
low income groups and weaker sections.
2. What are the different categories under
priority sector?
Priority Sector includes the following categories:
Micro, Small and Medium Enterprises
Export Credit
Social Infrastructure
Renewable Energy



Page 10

3. What are the Targets and Sub-targets for

banks under priority sector?
Domestic scheduled
commercial banks and
Foreign banks with 20
branches and above
40 percent of Adjusted
Net Bank Credit or Credit
Equivalent Amount of
Exposure, whichever is

Agriculture 18 percent of ANBC or

Credit Equivalent Amount
of Off-Balance Sheet
Exposure, whichever is

with less
than 20
40 percent
of Adjusted
Amount of
is higher; to
be achieved
in a phased
manner by

Within the 18 percent

target for agriculture, a
target of 8 percent of
Equivalent Amount of
Exposure, to be achieved
in a phased manner
i.e., 7 per cent by
March 2016 and 8 per
cent by March 2017.

7.5 percent of ANBC or Not
Enterprises Credit Equivalent Amount Applicable
of Off-Balance Sheet
Exposure, whichever is
higher to be achieved in


a phased manner i.e. 7

per cent by March
2016 and 7.5 per cent
by March 2017.
The sub-target for Micro
Enterprises for foreign
banks with 20 branches
and above would be
made applicable post
2018 after a review in
Advances 10 percent of ANBC or Not
to Weaker Credit Equivalent Amount Applicable
of Off-Balance Sheet
Exposure, whichever is

(ii) The Total Priority Sector target of 40 percent for

foreign banks with less than 20 branches has to be
achieved in a phased manner as under:The Total Priority
Sector as
percentage of ANBC
Financial or Credit Equivalent
Amount of OffBalance Sheet
whichever is higher

4. What constitutes Micro and Small Enterprises

under priority sector?
Bank loans to Micro and Small Manufacturing and
Service Enterprises, provided these units satisfy the
criteria for investment in plant machinery/equipment as
per MSMED Act 2006.



Page 11

Manufacturing sector
Investment in plant and
Micro Enterprises Do not exceed twenty five lakh
Small Enterprises More than twenty fivelakh rupees
but does not exceed five crore
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
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.

more diversification and investing options than they

would have by themselves. Mutual funds, hedge funds
and pension plans are all run by asset management
companies. These companies earn income by charging
service fees to their clients.
What is Liquidity Adjustment Facility(LAF)?
A tool used in monetary policy that allows banks to
borrow money through repurchase agreements. This
arrangement allows banks to respond to liquidity
pressures and is used by governments to assure basic
stability in the financial markets.

What is Bancassurance?
It is the term used to describe the partnership or
relationship between a bank and an insurance company
whereby the insurance company uses the bank sales
channel in order to sell insurance products.
Balance of Trade:
The value of a countrys exports minus the value of its
imports. Unless specified as the balance of merchandise
trade, it normally incorporates trade in services,
including earnings (interest, dividends, etc.) on financial
Balance of Payments:
A list of all of a countrys international transactions for a
given time period, usually one year. Payments into the
country (receipts) are entered as positive numbers,
called credits; Payments out of the country (payments)
are entered as negative numbers called debits. A
single numbers summarize all of a countrys
international transactions: the balance of payments
NOSTRO Account:
A Nostro account is maintained by an Indian Bank in
the foreign countries.
VOSTRO Account:
A Vostro account is maintained by a foreign bank in
India with their corresponding bank.
Lead Banking Scheme: Under this scheme all the
nationalized banks and few private sector banks were
allowed specially and were asked to play the Lead
Role. The lead banks act as a leader to bring about coordination of cooperative banks, commercial banks and

Miscellaneous Banking Topics

What is Asset Management Companies?
A company that invests its clients' pooled fund into
securities that match its declared financial objectives.
Asset management companies provide investors with


Page 12

other financial institutions in their respective demises to

bring about rapid economic development.
CAMELS: Capital
Management, Earnings Liquidity and Systems.


Nationalization of Banks
How many banks were nationalized during the
first stage in our country?
Nineteen banks were nationalized during the first
stage on 19.07.1969
A separate act namely Banking companies
acquisition and undertakings act 1970 was promulgated
in order to commence the banks as nationalized banks
The following banks were nationalized during the first
a) Central Bank of India; b) Bank of Maharashtra; c)
Dena Bank; d) Punjab National Bank; e) Syndicate
Bank; f) Canara Bank; g) Indian Bank; h) Indian
Overseas Bank; i) Bank of Baroda; j) Union Bank of
India; k) Allahabad Bank; l) United Bank of India; m)
United Commercial Bank; n) Bank of India.
What do you mean by the second stage of bank
While fourteen banks were nationalized on 19.7.1969,
six banks were once again nationalized during the year
1980 on 15.4.1980 with an objective to achieve the
The following are the banks which were nationalized
during 1980: Andhra Bank, Punjab and Sind Bank, New
Bank of India, Vijaya Bank, Corporation Bank, Oriental
New Bank of India subsequently merged with Punjab
National Bank

security interest created in respect of Financial Assets

to enable realization of such assets.
The SARFAESI Act provides for the manner for
enforcement of security interests by a secured creditor
without the intervention of a court or tribunal. If any
borrower fails to discharge his liability in repayment of
any secured debt within 60 days of notice from the date
of notice by the secured creditor, the secured creditor is
conferred with powers under the SARFAESI Act to
a) take possession of the secured assets of the
borrower, including transfer by way of lease,assignment
or sale, for realizing the secured assets
b) takeover of the management of the business of the
borrower including the right to transferby way of lease,
assignment or sale for realizing the secured assets,
c) appoint any person to manage the secured assets
possession of which is taken by thesecured creditor,
d) require any person, who has acquired any of the
secured assets from the borrower andfrom whom
money is due to the borrower, to pay the secured
creditor so much of the money as if sufficient to pay the
secured debt.
Other points
IMPS: Immediate Payment Service. It is an instant
interbank electronic fund transfer service through
mobile phones. Both the customers must have MMID
(Mobile Money Identifier Number). For this service, we
dont need any GPS-enabled cell phones.
BCBS: Basel Committee on Banking Supervision is an
institution created by the Central Bank governors of the
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

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


Page 13

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 Indias 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
borrowers history.
CRISIL: Credit Rating Information Services of India
Limited. Crisil is a global analytical company providing
ratings, research, and risk and policy advisory services.

MICR Code: Magnetic ink character recognition

(MICR) is a character-recognition technology used
mainly by the banking industry to ease the processing
and clearance of cheques and other documents. It is at
the bottom of cheques and other vouchers and typically
includes the document-type indicator, bank code, bank
account number, cheque number, cheque amount, and
a control indicator.
MSME and SME: Micro Small and Medium Enterprises
(MSME), and SME stands for Small and Medium
Enterprises. This is an initiative of the government to
drive and encourage small manufacturers to enjoy
facilities from banks at concessional rates.
LIBOR: London InterBank Offered Rate. An interest
rate at which banks can borrow funds, in marketable
size, from other banks in the London interbank market.
LIBID: London Interbank Bid Rate. The average
interest rate at which major London banks borrow
Eurocurrency deposits from other banks.
ECGC: Export Credit Guarantee Corporation of India.
This organisation provides risk as well as insurance
cover to the Indian exporters.


Financial inclusion
Financial inclusion involves
1) Give formal banking services to poor people in
urban & rural areas.
2) Promote habit of money-savings, insurance,
pension-investment among poor-people.
3) Help them get loans at reasonable rates from
normal banks. So they dont become victims in the
hands of local moneylender.
Three important initiatives taken by RBI for
financial inclusion:
1) Lead banking scheme (LBS).
RBI asked every bank to choose a particular district.
That Bank will be responsible for promoting banking
services and financial literacy, in that district.
2) No frills account replaced in 2012 by BSBDAPoor people can open bank accounts with ZERO
balance on 10th august 2012 no frills replaced by basic
saving bank account
3) Business Correspondents (BC) system.
Business correspondents are bank representatives. they
personally goes to the area allotted to them and 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



Page 14

The Business Correspondent carries a mobile

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


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
amount, but this facility is available only for those KCC
which has a annual limit of less than or upto 3 lakh.
What is Self Help Group(SHG)
Self Help Group is a homogeneous group of micro
entrepreneurs with affinity among themselves,
voluntarily formed to save whatever amount they can
conveniently save out of their earnings and mutually
agree to contribute to a common fund of the group
from which small loans are given to the members for
meeting their productive and emergent credit needs at
such rate of interest, period of loan and other terms as
the group may decide.
What do you know by currency chest?
Currency chests are operated by RBI so that they can
provide good quality currency notes to the public.
However, RBI has appointed commercial banks to open
and monitor currency chests on behalf of RBI. The cash
kept in currency chests is considered to be kept in RBI.
What do you mean by narrow banking?
It is the system of banking under which the bank
accepts deposits from the public and places the funds
accepted in 100 percent risk free assets with maturity
matching for its liabilities. The bank takes no risk of
lending at all.
What is a small coin depot?
Some bank branches are also authorised to establish
Small Coin Depots to stock small coins. The Small Coin
Depots also distribute small coins to other bank
branches in their area of operation.


What are soiled, mutilated and imperfect

(i) "soiled note:" means a note which, has become dirty
due to usage and also includes a two piece note pasted
together wherein both the pieces presented belong to
the same note, and form the entire note.
(ii) Mutilated banknote is a banknote, of which a portion
is missing or which is composed of more than two
(iii) Imperfect banknote means any banknote, which is
wholly or partially, obliterated, shrunk, washed, altered
or indecipherable but does not include a mutilated
Unclaimed Deposits and Inoperative/ Dormant
1. UCBs should carry out an annual review of accounts
in which there are no operations (i.e. no credit or debit
other than crediting of periodic interest or debiting of
service charges) for more than one year. The banks
may approach the customers and inform them in
writing that there has been no operation in their
accounts and ascertain the reasons for the same.
2. If the letters are returned undelivered, they may
immediately be put on enquiry to find out the
whereabouts of customers or their legal heirs in case
they are deceased.
3. A savings as well as current account should be
treated as inoperative / dormant if there are no
transactions in the account for over a period of two
The scheme of reverse mortgage has been introduced
for the benefit of senior citizens owning a house but



Page 15

having inadequate income to meet their needs. Some

important features of reverse mortgage are:
a) A homeowner who is above 60 years of age is
eligible for reverse mortgage loan. It allows him
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
c) The amount of loan is based on several factors:
borrowers 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.

4) At the end of June 1985, 183 RRBS with the network

of 10,245branches have opened in the states of the
Indian union..
Government of India 50% Sponsor Bank 35% State
Government 15% Total 100%.
The Export-Import (EXIM) Bank of India is the principal
financial institution in India for coordinating the working
of institution engaged in financing export and import
trade. It is a statutory corporation wholly owned by the
Government of India. It was established on January 1,
1982 for the purpose of financing, facilitating and
promoting foreign trade of India.
The authorised capital of the EXIM Bank is Rs. 200
crore and paid up capital is Rs. 100 crore, wholly
subscribed by the Central Government.
The Small Industries Development Bank of India
(SIDBI) was established as a principal financial
institution for the promotion, financing and
development of industries in the small scale sector.
SIDBI started its operations from 2 April 1990.
1) The National Housing Bank (NHB), the apex
institution of housing finance in India, was set up as
wholly owned subsidiary of the Reserve Bank of India.
2) The bank started its operations from July 1988.
3) NHB is a subsidiary bank of Reserve Bank of India.
4) National Housing Bank was established under section
6 of National Housing Bank Act(1987).
5) The headquarters of NHB is in New Delhi.

Other Banks which were establishedREGIONAL 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.
2) Father of RRB is M.Swaminathan.
3) The Govt. of India had appointed a Working Group
on rural Banks under the chairmanship of Mr. M.
Narasimham in 1975. First 5 RRBs were set up on 2 nd


The Basel Committee is the primary global standardsetter for the prudential regulation of banks and
provides a forum for cooperation on banking
supervisory matters. Its mandate is to strengthen the
regulation, supervision and practices of banks
worldwide with the purpose of enhancing financial
of Sveriges
Page 16

Riksbank(SWEDEN), is the chairman CHAIRMAN of the

Basel Committee.

absorb losses during periods of financial and economic


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.

(c) Countercyclical Buffer: The countercyclical buffer

has been introduced with the objective to increase
capital requirements in good times and decrease the
same in bad times. The buffer will slow banking
activity when it overheats and will encourage lending
when times are tough i.e. in bad times. The buffer will
range from 0% to 2.5% of RWAs, consisting of
common equity/shares or other fully loss-absorbing

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 banking 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?
Requirements based on Risk Weighted Assets (RWAs)
: Maintaining capital calculated through credit, market
and operational risk areas.(MAINLY THAT CAPITAL
Pillar 2 : Supervisory Review Process : Regulating
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
asking to build conservation buffer is to ensure that
banks maintain a cushion of capital that can be used to


(d) Minimum Common Equity and Tier 1 Capital

Requirements :
The minimum requirement for
common equity, the highest form of loss-absorbing
capital, has been Minimum Common Equity(the highest
form of loss-absorbing capital) raised under Basel III
from 2% to 4.5% of total risk-weighted assets. The
overall Tier 1 capital requirement, consisting of not only
common equity but also other qualifying financial
instruments, will also increase from the current
minimum of 4% to 6%. Although the minimum total
capital requirement will remain at the current 8% level.
(e) Leverage Ratio: A leverage ratio is the relative
amount of capital to total assets (not risk-weighted).
This aims to put a cap on swelling of leverage in the
banking sector on a global basis. 3% leverage ratio of
Tier 1 will be tested before a mandatory leverage ratio
is introduced in January 2018.
(f) Liquidity Ratios: Under Basel III, a framework for
liquidity risk management will be created. A new
Liquidity Coverage Ratio (LCR) and Net Stable Funding
Ratio (NSFR) are to be introduced in 2015 and 2018,
1. Allahabad Bank A tradition of trust
2. Andhra bank For all your needs
3. Bank of Baroda Indias international bank
4. Bank of India Relationships beyond banking
5. Bank of Maharashtra One family one bank
6. Canara Bank Together We Can
7. Central bank Central to you since 1911
8. Dena Bank Trusted Family Bank
9. Indian Bank Taking banking technology to the
common man
10. Oriental bank of Commerce Where every
individual is committed



Page 17

11. Punjab National Bank The name you can bank

12. State bank of India With you all the way
13. Syndicate bank Your faithful & friendly financial
14. Vijaya Bank A friend you can bank on
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
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 Indias 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.

Bank of Baroda Vadodra

20. BIRD:
24. HDFC:
25. IRDA:
26. SWOT:


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
UCO Bank Kolkata
Union Bank of India Mumbai
United Bank of India Kolkata
Vijaya Bank Bangalore
Andhra Bank Hyderabad


Page 18


1. RBI approves the merger of Kotak Mahindra-ING
2. Bharti AXA General Insurance launched Smart
3. Dena Bank on 6 April 2015 signed a Memorandum
of Understanding (MoU) with Life Insurance
Corporation (LIC) of India to provide insurance
cover to all Aadhaar-linked savings account holders
of the bank in the age group of 18 to 50 years.
4. PM Narendra Modi launched the Rs 20,000 cr Micro
Units Development Refinance Agency (MUDRA)
Bank and said , the aim of the bank is to fund the
unfunded small entrepreneurs and to strengthen
savings habit in the country.









IFCI Ltd has now become a state- owned firm with

the government increasing its stake in the
infrastructure financing firm to 51.04 per cent.
The Reserve Bank notified government's decision
to raise foreign direct investment (FDI) limit in the





insurance sector to 49 per cent from the present

26 percent.
IndusInd Bank entered into an agreement to
acquire Royal Bank of Scotland's Diamond &
Jewellery Financing business in India and related
deposit portfolio.
ICICI Bank in collaboration with Tech Mahindra
launched a payment service Tap-n-Pay based on
the near-field communications (NFC) technology,
payments without using cash.
Bharatiya Mahila Bank Ltd has entered into MoUs
with New India Assurance Company Ltd and Life
Insurance Corporation of India to provide
insurance cover to its accountholders.
RBI has modulated PSL norms which stipulate that
banks operating in India must offer 40% of all
loans to farmers, small entrepreneurs and so-called
weaker sections of society.
Bank of India has partnered with insurance
companies New India Assurance Co and Star Union
Dai-ichi Life Insurance to roll out the governments
social security insurance schemes.
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.
Bharatiya Mahila Bank (BMB) has won The Asian
Banker Achievement Award 2015.
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.
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
Insurance Australia Group (IAG) has decided to
increase its stake in State Bank of Indias general
insurance arm to 49 per cent from 26 per cent.
IndusInd Bank has agreed to buy Royal Bank of
Scotlands diamond and jewellery financing
business in India.
Country's second largest private sector lender
HDFC Bank launched '30-min auto' and '15-min 2wheeler' loan schemes, for which customers have
to provide only their biometric details.
Private insurer Bajaj Allianz has launched a
weather-based crop insurance scheme for orange


Page 19








crops in Nagpur, Hingoli and Washim districts of

Government is likely to infuse additional USD 1.8
billion (about Rs 11,500 crore) in public sector
banks this fiscal.
HDFC Securities, a subsidiary of HDFC BankBSE 0.23 % has launched its mobile trading app in 11
different regional languages.
The Reserve Bank of India (RBI) has extended the
date to exchange pre-2005 bank notes till
December 31, 2015 for third time.
Export-Import (Exim) Bank has extended a line of
credit of $268.35 million to Tanzania for financing
extension of Lake Victoria pipeline.
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
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 fasttrack route for raising
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.
Odisha State Co-op Bank launches Bank on
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 companys equity base.
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.
Service tax increased to 14%.
RBI lowers repo rate to 7.25 per cent.
Non-repatriable investments by NRIs, OCIs and
PIOs will be treated as domestic investments and
will not be subject to foreign direct investment
EPFO to invest 5% of funds in equity market.
The Reserve Bank of India (RBI) has permitted
banks to take control of 51 percent of stake in a
company that has failed to recover financial health











even after a period of financial restructuring,

typically due to management inefficiency or other
ICICI Bank Appoints MK Sharma As Non-Executive
The Reserve Bank of India (RBI) said that Indian
corporates, eligible to raise external commercial
borrowings (ECBs), are permitted to issue rupeelinked bonds overseas.
Reserve Bank of Indian has allowed non-resident
Indians (NRIs) to invest in chit fund to encourage
flow of capital into the country.
The Insurance Regulatory and Development
Authority of India (IRDAI) has imposed a penalty
of 50 lakh on Future Generali Life Insurance
State Bank of India (SBI), the countrys largest
bank, has launched SBI eforex, an Internet-based
platform that enables customers to book their
foreign exchange transactions online.
Canara Bank has entered into a memorandum of
understanding with Life Insurance Corporation of
India for offering the Pradhan Mantri Jeevan Jyoti
Bima Yojanainsurance cover to all its eligible
An extremely simplified income tax return form
will soon replace the controversial 14-page ITR
that sought information like all bank accounts and
foreign trip details.As it stands, the new ITR forms,
including the ITR-1 and ITR-2, require an assessee
to furnish the number of bank accounts held by
the individual.
MoneyGram Ready to Handle Electronic-Mode
Remittances in India.
The RBI put in place a new framework to check
loan fraud including by way of early warning
signals at banks and red flagging of accounts,
while swindlers will have no access to further
banking finance.
The Centre's new appointment norms for public
sector bank chiefs capping the age at 55 years
and mandatory three-year board level experience
has come under judicial scrutiny with the
Supreme Court.
Axis Bank, the country's third largest private sector
bank now facilitates instant transfer of money on
various social media channels like Whatsapp,
Facebook, Twitter, Email list and phone contact


Page 20

46. KV Kamath appointed BRICS bank president.

47. State Bank of India joined its private sector rivals
to launch contactless cards using latest near field
technology (NFC).
48. In a move that will promote 'tap and pay'
electronic payments, the Reserve Bank of India
(RBI) said that bank can allow customers to
transact with contactless card upto Rs 2000
without customers punching a separate PIN for
49. Arun Shrivastava assumed charge as Managing
Director & CEO of Syndicate Bank.
50. Top private sector lender ICICI Bank opened its
first branch in China, which was inaugurated by
Prime Minister Narendra Modi.
51. HDFC Bank has launched 'HDFC Bank Apollo
Medical Benefits Card'.
52. As part of Make in India, Finance Minister Arun
Jaitely inaugurates Indigenous New Bank Note
printing lines at Security Paper Mill in
53. ICICI Launches Voice Password Facility for Phone
54. State-run Corporation Bank cut base rate or
minimum lending rate by 0.25 percentage point to
10 per cent, a move which will lead to lower EMIs
for its customers.
55. Micro Units Development Refinance Agency
(MUDRA) Bank has partnered with 19 state and
regional level coordinators to reach those small
entrepreneurs who are often cut off from the
banking system because of a limited branch
56. State-run lender Bank of India tied up with
MasterCard to launch three new cards and also
two new banking solutions for its card holders.


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
on investment by an individual, for funds from lowrisk foreign investors.
60. IDBI Bank has decided to roll out e-huts to connect
with the rural populace.
1. The World Bank has predicted a GDP growth rate of
8 per cent for India by 2017 and said that a strong
expansion in the country, coupled with favourable
oil prices.
2. Moodys, a global ratings agency, raised Indias
rating outlook to positive from stable, but
retained the Baa3 rating.
3. India's economic growth is projected to surpass that
of China's, with the GDP expected to zoom by 7.7
per cent in 2016, according to a UN report.
4. The Asian Development Bank projected India's
growth rate to surpass China and improve to 7.8
per cent in next fiscal and further to 8.2 per cent in
5. India pegs 2014-15 GDP growth at 7.4 per cent
6. Indias growth to reach 6.3 per cent in 2016:United
Nations World Economic Situation and Prospects
7. International Monetary Fund (IMF) projected that
India will grow 6.5 per cent in 2016, overtaking
China which, it projected, will slowdown to 6.3 per
8. Fitch expects real GDP growth to pick up to 8 per
cent in FY16 and 8.3 per cent in FY17.
9. IMF projected GDP growth for India in 2014-15 at 5.6 % & 6.4 % in 2015

India ranking in different Indexes:

1. India ranks 119 on 2015 FM Global Resilience
2. India ranked 143rd in Global Peace Index.
Page 21

3. India is home to the highest number of hungry

people in the world, at 194 million, surpassing
China, according to United Nations annual hunger
4. Indias 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
7. World Bank - Ease of Doing Business" report - India
ranked 142 among the 189 countries (Singapore
8. World Economic Forum's 2015 Gender gap index
114 (Iceland top the list followed by Finland &
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
14. Global Peace Index 2014 143 (Iceland top the list
while Syria the most violent place)
15. Global Innovation Index 2014 - 76
16. Global
(Switzerland is the most competitive economy,
followed by Singapore).
Important Committees in News:
1. Bibek Debroy Committee on restructuring of Indian
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
tax-related issues on a regular basis. The high









level committee will be headed by former Chief

Economic Advisor (CEA) Ashok Lahiri.
TSR Subramaniam Committee: to review the
processes, laws and Acts of the Ministry of
Environment, Forests and Climate Change
Pratyush Sinha committee: to assess compensation
for coal blocks.
The former Union Minister Jairam Ramesh
designated as the head of Future Earth
Engagement Committee, a global research
platform panel on sustainable development.
T.K. Vishwanathan committee: to provide
Bankruptcy code for small and medium
enterprises (SMEs).
Justice Prabha Sridevan committee: to function as
a think-tank to help draft a new National
Intellectual Property Rights Policy (National IPR
K.V. Kamath panel: to examine the financial
architecture for Micro, Small and Medium
Enterprises (MSME) sector.
Gopalakrishna Committee: on Capacity Building in
Banks and non-Banks
G N Bajpai Committee: to review the investment
guidelines for national pension system (NPS)
schemes in private sector.
Scientist Raghunath Anant Mashelkar panel: to
recommend best technologies for Prime Minister
Narendra Modi's "Swachh Bharat" national
sanitation campaign.
T S R Subramanian Committee: to review five key
green laws concerning protection and conservation
of environment, forest, wildlife, water and air
among others.
H R Khan Committee: to examine the un-claimed
amount in PPF, Post Office and Savings Schemes.
H Devaraj Committee: reported that most of
the deemed universities are not fit for being a
Sivaramakrishnan Committee: to suggest the place
to build the capital city of Andhra Prades
Former RBI Governor Bimal Jalan to head the
Expenditure Management Commission. The
purpose of setting up the commission is to cut-off
the spending and review government expenditure
to get maximum output.
recommended complete ban on dance bars in
hotels and restaurants.


Page 22

19. R. Ramanujam Committee - to review, identify and

recommend amendment in obsolete laws to further
smoothen and simplify the governance.
Important News (India & World):
1. A massive 7.9-magnitude earthquake struck east of
Pokhara in Nepal, causing widespread damage to
buildings in the capital Kathmandu.
2. China has hosted the signing ceremony of the Asian
Infrastructure Investment Bank (AIIB), a new
international financial institution set to rival the
World Bank and Asian Development Bank.
3. A ranking of destinations for attractiveness to
foreign investors has placed India at the top among
110 countries. China has secured the 65th position
and the U.S.
4. As per recently released report by British Petroleum
(BP) Energy Company, United States (US) became
the worlds largest oil producer in 2014 surpassing
Saudi Arabia.
5. Minister of State (MoS) for External Affairs V K
Singh inaugurated first India-China Yoga College at
Yunnan Minzu University in Kunming, China.
6. India leads regional inflow of Foreign Direct
Investment (FDI) in South Asia accounting for $34
billion investment during 2014 and the upward
trend is likely to continue this year also, according
to a UN report which placed China as the world's
largest FDI recipient.
7. India has emerged as the third largest Foreign
Direct Investment (FDI) source for United Kingdom
(UK) in 2014-15.
8. India has set two Guinness world records (GWR) in
Rajpath yoga event held on the eve of first
International Yoga Day led by Prime Minister
Narendra Modi. First record is the largest number of
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
Agencys surveillance powers.
11. 26 African countries create TFTA (The Tripartite
Free Trade Area): Cape Town to Cairo free-trade


zone that facilitates creation of Africas largest freetrade zone.

12. Seychelles becomes 161st member of World Trade
13. David Cameron has returned to Downing Street
with the Tories having defied polls and won the
general election.
14. President Pranab Mukherjee, on his visit to Russia,
has inaugurated a festival of Indian Culture
'Namaste Russia' in Moscow.
15. China overtook the United States as the world's top
importer of crude oil for the first time in April 2015.
16. A major earthquake has struck eastern Nepal, near
Mount Everest, two weeks after more than 8,000
died in a devastating quake.
17. Prime Minister Narendra Modi announced that India
will grant e-visas to Chinese tourists.
18. Minister of State for Information and Broadcasting
Rajyavardhan Singh Rathore inaugurated the India
Pavilion at the 68th Cannes International Film
19. Brushing aside objections, Prime Minister Narendra
Modi announced granting of e-visa (electronic visa
also called visa on arrival) facility to the Chinese
nationals in Beijing.
20. India announced a US$ one billion credit line to
Mongolia for infrastructure development as they
upgraded their ties to Strategic Partnership and
agreed to deepen defense cooperation besides
exploring potential for tie ups in areas like the civil
nuclear sector.
21. Prime Minister Narendra Modi and Bangladesh
premier Sheikh Hasina will jointly inaugurate a
border 'haat' (market) at Kamalasagar in Tripura's
Sipahijala district, which borders Brahmanbaria
district of Bangladesh.



Page 23

Important News States

1. Odisha Government launches Aahar scheme.
2. Andhra Pradesh Cabinet approved Amaravathi as
capital of the State.
3. Punjab Government launches Padho Punjab- Khedo
Punjab Mission.
4. The BJP government in Haryana has decided to give
the status of cabinet minister to yoga guru Ramdev,
who was earlier made the states brand ambassador
to promote yoga and ayurveda.
5. The Kerala government launched a major campaign
"Subodham" to help people in the state overcome
alcohol, drug and other substance abuse.
6. The Delhi government gave approval for the setting
up of a farmer compensation scheme to be named
after Gajender Singh, who allegedly committed
suicide during an AAP rally on April 22.
7. West Bengal Chief Minister Mamata Banerjee
declared Nadia as the first Open Defecation Free
(ODF) district in the country.
8. Nadia district in West Bengal has won the United
Nations Public Service Award 2015 in the category
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.


10. Tennis legend Steffi Graf was appointed the

Ayurveda brand ambassador of Kerala.
11. Indian Railways names Haridwar Mail as Yoga
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
capital Amaravati at Mandadam village in
Guntur district.
17. Kapil Mishra to Succeed Jitender Tomar as Delhi's
Law Minister.
18. In Haryana's Bibipur village, contest of selfies with
daughter to save girl child was organised.
19. In a bid to make Arunachal Pradesh a hundred per
cent organic state, the State government decided to
launch State Soil Health Mission.The programme
aims at proper documentation of soil health and
preparation of soil map.
20. Jitan Ram Manjhi announces new party as
Hindustani Awam Morcha (HAM).
21. MoUs worth Rs 24,000 cr signed during PM
Narendra Modi's visit to Chattisgarh.
22. Punjab becomes first state to issue Soil Health
Cards to farmers. Union Ministry of Human
Resource Development (MHRD) gave an in-principle
approval for setting up an IIIT (Indian Institute of
Information Technology) in Nagpur, Maharashtra. It
will be the first IIIT to be set up in the state.
23. Mega Food Park Inaugurated at Nalbari, Assam.



Page 24

New Appointment in India

1. Gulshan Rai takes charge as Indias first cyber
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.
13. Beno Zephine becomes first 100% blind officer in


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.
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 PMs Special Envoy
on Countering Terrorism and Extremism, with a
charter to liaise with governments in West Asia, AfPak and South East Asia.
22. Infosys Limited appoints R. Seshasayee as NonExecutive Chairman of the Board.
23. S Christopher appointed as Secretary, Department
of Defence Research and Development-cumDirector
Development Organisation (DRDO).
24. K.V. Chowdary appointed as new Central Vigilance
25. Vijai Sharma appointed as Chief Information
26. Yes Bank reappoints Rana Kapoor as MD.
27. Government extends Bank of Baroda interim chief
Ranjan Dhawan's term for 3 months.
28. R C Tayal appointed as new Director General of
National Security Guard.
29. Dr. Srivari Chandrasekhar was appointed Director of
CSIR-Indian Institute of Chemical Technology (IICT)
a premier research institute of Union Government
based in Hyderabad, Telangana.
30. Shri Ameising Luikham, IAS took over as Secretary,
Department of Public Enterprises in the M/o Heavy
Industries & Public Enterprises.
31. Achal Kumar Jyoti, a former Gujarat Chief
Secretary, was appointed as the Election
32. President Pranab Mukherjee has appointed Justice
Cyriac Joseph as acting Chairman of National
Human Rights Commission (NHRC).
33. Sanjay Gupta today took over as chairman and
managing director of Engineers India Ltd.
34. Power Secretary Pradeep Kumar Sinha was
appointed as the next Cabinet Secretary of the



Page 25

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
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:

Print Media
Civil Aviation
Public Sec. Banks
Private Sec. Banks 74
Multi Brand
Single Brand




Page 26




Page 27

Mizoram: Lt. General (Retd.) Nirbhay Sharma has

been transferred and appointed as Governor of Mizoram
for the remainder of his term.
Tripura: Tathagata Roy will be the Governor of
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.
5. Chennai-born Raja Rajeswari has been sworn-in as
a criminal court judge in New York by Mayor Bill de
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
12. Indian-origin Tory MP Priti Patel has been appointed
minister of state for employment in British Prime
Minister David Cameron's new cabinet.
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
decision making body of the World Health
Organisation (WHO), after a gap of 19 years.


4. UN World Conference on Disaster Risk Reduction

Sendai City, Miyagi Prefecture, Japan
5. The first Renewable Energy Global Investors Meet &
Expo,a lso called RE-Invest 2015. New Delhi
6. The 15th Delhi Sustainable Development Summit.
New Delhi
7. First World Ocean Science Congress - Kochi, Kerala
8. World Congress on Information Technology
(WCIT) - Hyderabad
9. World Economic Forum annual Summit 2015
Davos - Switzerland
10. World Diamond Conference 2014 New Delhi
11. 19th SAARC Summit 2016 Islamabad, Pakistan
12. G20 Leaders Summit 2014 Brisbane, Queensland
13. 15th G - 20 Summit 2015 Turkey
14. 16th G - 20 Summit 2016 China
15. 4th Nuclear security summit 2016 United States
16. 7th BRICS Summit 2015 Ufa, Russia
17. IBSA Summit 2015 (IBSA = India - Brazil - South
Africa) - New Delhi
18. International Buddhist Conference 2014 held in
19. 19th East Asia Summit held in Nay Pyi Taw,
20. 45th International Film Festival of India begins in
21. The International Renewable Energy Agency, IRENA
hold its eighth Council meeting in Abu Dhabi.
22. G-4 foreign minister meeting held in New York to
discuss Security Council reform
23. 13th edition of the Pravasi Bharatiya Divas (PBD)
will be held for the first time in Gandhinagar,
1) Pradhan Mantri Jeevan Jyoti Bima Yojana
Highlights of the Pradhan Mantri Jeevan Jyoti Bima
Yojana (PMJJBY Scheme 2 for Life Insurance) are:
Eligibility: Savings Bank (SB) Account
between 18 years (completed) and 50 years.


Policy period: The cover shall be for one year period

starting from June 1, 2015 to May 31, 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 May 31, 2015, extendable up to
August 31, 2015.



Page 28

Premium: Rs. 330 (per annum).

Payment Mode: The premium will be directly autodebited by the bank from the subscribers savings bank
account. This is the only mode available currently.
Risk Coverage: Sum Assured of Rs. 2 Lakh on death
of the Insured member for any reason is payable to the
Termination of assurance:
Account holder attains age of 55 years
Closure of account with the Bank or insufficiency of
balance for debiting premium.
In case of multiple coverage under the scheme, the
cover will be restricted to Rs.2 lakhs and other
insurance covers are terminated and premium shall be
2) Pradhan Mantri Suraksha Bima Yojana
Highlights of the Pradhan Mantri Suraksha Bima Yojana
(PMSBY Scheme 1 for Accidental Death Insurance)
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
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
Payment Mode: The premium will be directly autodebited by the bank from the subscribers account. This
Risk Coverage: Total coverage (sum-insured) under
the scheme is Rs. 2 Lakh.

The GoI has announced a new scheme called Atal

Pension Yojana (APY)1 in 2015-16 budget. The
APY is focussed on all citizens in the unorganized

The scheme is administered by the Pension Fund

Regulatory and Development Authority (PFRDA)
through NPS architecture.



Under the APY, there is guaranteed minimum

monthly pension for the subscribers ranging
between Rs. 1000 and Rs. 5000 per month.

The benefit of minimum pension would be

guaranteed by the GoI.

GoI will also co-contribute 50% of the subscribers

contribution or Rs. 1000 per annum, whichever is
lower. Government co-contribution is available for
those who are not covered by any Statutory Social
Security Schemes and is not income tax payer.

GoI will co-contribute to each eligible subscriber,

for a period of 5 years who joins the scheme
between the period 1st June, 2015 to 31st
December, 2015. The benefit of five years of
government Co-contribution under APY would not
exceed 5 years for all subscribers including
migrated Swavalamban beneficiaries.

All bank account holders may join APY.

Jan Dhan Yohana Yojana
Aim - scheme to promote financial inclusion:
Prime Minister Narendra Modi launched
'Pradhan Mantri Jan
Dhan Yojana' to help the
poor open bank accounts.
The slogan for the Pradhan Mantri Jan Dhan
mission is Mera Khata Bhagya Vidhaata.
Benefits :
i. Every individual who opens a bank account
will become eligible to receive an accident
insurance cover of up-to Rs. 1 Lakh.
ii. HDFC Ergo General Insurance will provide the
accident cover under the scheme.



Page 29

iii. An additional Rs. 30,000 life insurance cover

will be provided for those opening bank
accounts before January 26,2015.
iv. LIC (Life Insurance Corporation) will provide
the life insurance cover of Rs 30,000 under the
v. Rs 5,000 overdraft facility for Aadhar-linked
accounts, Ru Pay Debit Card with and minimum
monthly remuneration of Rs 5,000 to business
correspondents who will provide the last link
between the account holders and the bank.





Scheme & Plan Launched by Union & State
1. Union Government launches FAME-India scheme to
boost electric, hybrid vehicle sales.
2. Prime Minister Narendra Modi launched Give it Up
campaign at the annual energy-focussed summit
Urja Sangam 2015. The campaign seeks to extort
the better off sections of society to forego their
liquefied petroleum gas (LPG) subsidy, which
would be utilised in providing subsidised LPG
connections to the poor.
3. Union Ministry of Home Affairs (MHA) has renamed
Authorization scheme (TVoA-ETA) to e-Tourist Visa
4. Railways today launched E-Samiksha, an online
monitoring mechanism, with an aim of monitoring





implementation of various ongoing projects

including Rail Budget proposals.
Prime Minister Narendra Modi unveiled three mega
flagship schemes aimed at developing cities and
towns as "new engines for growth". The three
projects -- 100 smart cities, Atal Mission for
Rejuvenation and Urban Transformation (AMRUT)
and Housing for All - will ring in a new urban era,
which will entail an investment of over Rs 3 lakh
crore in the next five years.
Union Government has launched Bhuvan Ganga
Mobile Application and Web Portal to aid flagship
mission to Clean Ganga.
Union Cabinet approved increasing Indias solar
power capacity target under the Jawaharlal Nehru
National Solar Mission (JNNSM) to 1 Lakh Mega
Watt (MW) by 2022.
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
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.
Union Government launched weather alert service
NOWCAST-The SMS will be sent in English, Hindi
and regional languages as per farmers request.
India will provide e-tourist visa to 31 more
countries, including France and Canada, enabling
the citizens of these nations easy entry to the
country. With the latest addition, the total number
of countries under this scheme will go up to 76.
Union Minister of Road Transport and Highways
Shri Nitin Gadkari dedicated to the nation two
major Highway projects in the North East at a
function near Shillong. These include Shillong
Bypass and four laning of Jorabat-Barapani Section
of NH-40.
Centre allocates Rs 5,000 crore for development of
Marking the first anniversary of NDA government,
Prime Minister Narendra Modi launched Kisan TV
at a function held in Vigyan Bhawan.
Centre is planning to launch soon an agri-training
programme in 593 villages under the Sansad
Adarsh Gram Yojana, one of the flagship schemes
of Prime Minister Narendra Modi.


Page 30

16. Niti Ayog

India's Planning Commission will be renamed "Niti
Ayog" (National Institution for Transforming India) as
part of a plan to restructure the institution that the
government believes has run its course. The name,
replacing "Yojana (planning)" with "Niti (policy)" will be
announced in an amended resolution for the new plan
body. The Planning Commission had suggested to a
group chaired by Prime Minister Narendra Modi that its
replacement body should be structured to meet the
need of changing economic paradigm and comprise
sectorial experts and states' representative.
The NITI Aayog will comprise the following:
The full-time organizational framework will comprise of,
in addition to the Prime Minister as the Chairperson:
i. Vice-Chairperson: To be appointed by the Prime
ii. Members: Full-time
iii. Part-time members: Maximum of 2 from leading
universities research organizations and other relevant
institutions in an ex-officio capacity. Part time members
will be on a rotational basis.
iv. Ex Officio members: Maximum of 4 members of the
Union Council of Ministers to be nominated by the
Prime Minister.
v. Chief Executive Officer: To be appointed by the
Prime Minister for a fixed tenure, in the rank of
Secretary to the Government of India.
vi. Secretariat as deemed necessary.
17. PAHAL Scheme
More than 60 per cent of LPG customers in the country
have joined the ambitious PAHAL scheme for receiving
cash subsidy so that they can buy cooking gas (LPG) at
market price. Over 9 crore consumers, out of a total
customer base of 15.33 crore, have joined the Direct
Benefit Transfer for LPG (DBTL) scheme and Rs 2,262
crore in cash has been transfered to them.
18. Sukanya Samriddhi Accounts i. Rate of interest 9.1% Per Annum(2014-15),calculated
on yearly basis ,Yearly compounded.
ii. Minimum INR. 1000/-and Maximum INR. 1,50,000/in a financial year. Subsequent deposit in multiple of
INR 100/- Deposits can be made in lump-sum No limit
on number of deposits either in a month or in a
Financial year.
iii. Account can be opened up to age of 10 years only
from the date of birth.


iv. If minimum Rs 1000/- is not deposited in a financial

year, account will become discontinued and can be
revived with a penalty of Rs 50/- per year with
minimum amount required for deposit for that year.
v. Partial withdrawal, maximum up to 50% of balance
standing at the end of the preceding financial year can
be taken after Account holders attaining age of 18
vi. Account can be closed after completion of 21 years.
19. Amrut Mahotsav - The year 2022, 75th year of
Independence Vision for Team India led by PM
i. Basic facility of 24x7 power, clean drinking water, a
toilet and road connectivity.
ii. Housing for all - 2 crore houses in Urban areas and 4
crore houses in Rural areas.
iii. At least one member has access to means for
iv. Substantial reduction in poverty.
v. Electrification of the remaining 20,000 villages
including off-grid Solar Power- by 2020.
20. Deendayal Upadhyaya Gram Jyoti Yojana:
electrification scheme Deendayal Upadhyaya Gram Jyoti
Yojana. Note: The scheme will replace the existing
Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY).
ii. The scheme is likely to work towards improvement in
hours of power supply in rural areas, reduction in peak
load, improvement in billed energy based on metered
consumption and providing access to electricity to rural
21. Union Government launched the nationwide
Bal Swachhta Mission:
i. The Bal Swachhta Mission is a part of the nationwide
sanitation initiative of Swachh Bharat Mission that was
launched by the Prime Minister on 2 October 2014. The
nationwide Bal Swachhta Mission will have the following
six themes:
1. Clean Anganwadis
2. Clean Surroundings like Playgrounds
3. Clean Self (Personal Hygiene/Child Health)
4. Clean Food
5. Clean Drinking Water
6. Clean Toilets
22. Swachh
Swachhata Ki Aur) launched on Oct 2: The
concept of Swachh Bharat is to pave access for
every person to sanitation facilities including
toilets, solid and liquid waste disposal systems,



Page 31

village cleanliness and safe and adequate drinking

water supply.
Important Points:
1. The Mission aims at fulfilling the dream of clean
India of Mahatma Gandhi by his 150th birth anniversary
in 2019.
2. Logo created by Shri Anant Khasbardar of
Kolhapur, Maharashtra has won the Logo design
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
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".
Union Ministry of Science & Technology
Research, Advancement through Nurturing) scheme for
Women Scientists
Objectives:i. To increase the number of women researchers in
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
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
Development (MoRD), Government of India in June
2011. The basic idea behind this programme is to
organize the poor into SHG (Self Help Groups)


groups and make them capable for selfemployment.

27. Indira Awas Yojan: It is one of the major flagship
programs of the Rural Development Ministry to
construct houses for BPL population in the villages
Note: i. The financial assistance provided for new
construction in the form of full grant is Rs.70,000/- per
unit for plain areas & Rs.75,000/- for hilly/difficult
ii. Further, an IAY beneficiary can avail top-up loan
upto Rs 20,000/- under the Differential Rate of Interest
(DRI Scheme) from any Nationalized Bank at an interest
rate of 4% per annum.
28. Govt re-launches Varishtha Pension Bima Yojana:
The government has re-launched the Varishtha
Pension Bima Yojana, for the benefit of citizens
aged 60 years and above. It will provide monthly
pension ranging from 500 to 5,000 rupees per
month to senior citizens of the country. The Scheme
will be administrated by the Life Insurance
Corporation, LIC.
Awards & Honours
1. Indian-origin nurse Subadhra Devi Rai named for
2015 International Achievement Award.
2. Amitabh Bachchan honoured by Egypt's Academy of
3. Delhi International Airport Limited (DIAL) has
bagged the prestigious Golden Peacock National
Quality Award for the year 2015.
4. An Indian origin school boy Pratap Singh, 15, in the
UK has been chosen for a prestigious prize for the
Institute of Physics (IOP) Prize, that carries 500
pounds sterling and a trip to a national physicsrelated activity.
5. Uttar Pradesh Government conferred Sahitya
Shiromani Samman on noted Hindi poet Gopaldas
Neeraj and veteran Hindi litterateur Uday Pratap
6. Seoul city, the capital and largest metropolis of
South Korea was awarded the title of Global Earth
hour Capital 2015 after it won the Earth Hour City
Challenge (EHCC) of World Wildlife Fund (WWF).
7. US President Barack Obama honoured Microsoft's
Indian-origin CEO Satya Nadella with the
'Champions of Change' award for bringing about
change within his company to support working
8. NRI industrialists Hinduja brothers S P Hinduja
and G P Hinduja have won the Business Leader of
the Year 2015 award at the prestigious 5th Asian



Page 32

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
12. Indian Space Research Organisation (ISRO) has
been selected for the Gandhi Peace Prize for 2014
for its contribution to the countrys development
through space technology and satellite-based
13. President
Punyabhushan Award on Prataprao Pawar,
Chairman of Sakal Media Group (SMG) at
Balgandharva Auditorium in Pune.
14. Vocalist Sanjay Subrahmanyam selected for Sangita
Kalanidhi award 2015.
15. Atal Behari Vajpayee honoured with Bangladesh
Liberation War Award.
16. Edward Snowden awarded freedom of expression
prize in Norway
17. Isro Bags Space Pioneer Award for Mangalyaan
Mars Orbiter Mission.
18. Indian-Origin Surgeon General Vivek Murthy
Presented With Pride of Community Award
19. Dr. Pramod Patil and Dr. Ananda Kumar won
20. Ace marksman Jitu Rai was declared the
Sportsperson of the Year' at the Times of India
Sports Awards.
21. Indian film Masaan has won the prestigious critics
prize in the Un Certain Regard category at the 68th
Cannes Film Festival.
22. Two Indian peacekeepers have been chosen
Hammarskjold Medal. They are Lance Naik Nand
Ram and Raju Joseph.

23. Hungarian writer Laszlo Krasznahorkai won Britain's

Man Booker International Prize for career
Best Actor
Best Actress
Best Director
Best Movie
Best Actor
Best Actress
Best Director
Best Feature Fim
Best Feature Film
in Hindi
Phalke Award

IIFA 2015 Winner

Shahid Kapoor for Haider
Kangna Ranaut for Queen
Rajkumar Hirani for PK
Sanchari Vijay for Nanu
Avanalla Avalu
Kangna Ranaut for Queen
Srijit Mukherji
Shashi Kapoor

Padma Vibhushan:
1. LK Advani- Public Affairs- Gujarat




Page 33

2. Amitabh Bachchan- Art- Maharashtra

3. Prakash Singh Badal- Public Affairs- Punjab
4. Prof Malur Ramaswamy Srinivasan- Science and
Engineering- Tamil Nadu
5. Kottayan K. Venugopal- Public Affairs- Delhi
Place in News
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
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 Peoples
Party (NPP) which was a recognized state party in
9. Jaipur Metro, touted as one of the fastest built
metro systems in the country, was thrown open to
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 Indias 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
common people at Kamalasagar in Sipahijala district


of Tripura bordering Brahmanbaria district of

13. Maharashtra Industrial Development Corporation
(MIDC) has inked memorandum of understanding
(MoU) with state-run Small Industries Development
Bank of India (SIDBI) to provide easy finance to
micro, small and medium enterprises (MSMEs) for
their growth.
14. Tripura government decides to withdraw AFSPA
from state.
Person in News
1. Indian Prime Minister Narendra Modi is the winner
of this years reader poll for TIME Person of the
2. Vankadarath Saritha, a 30-year-old driver became
first woman bus driver to be inducted in Delhi
Transport Corporation (DTC).
3. Rajya Sabha member Sitaram Yechury was elected
the fifth general secretary of the Communist Party
of India (Marxist).
4. Jayaram Jayalalitha cleared of corruption charges.
5. An Egyptian court has sentenced ousted President
Mohammed Morsy to death.
6. Four Indians have been named in Forbes
magazines 12th annual list of Worlds 100 most
Bhattacharya, Chanda Kochhar, Kiran Mazumdar
Shaw & Shobhana Bhartia.
7. Tanishq Abraham 11-year old Indian-American
creates record by graduating from California
8. Parvinder Singh Batth, becomes first Sikh mayor in
United Kingdoms Wokingham Borough Council.
9. Indian-American Harkeert Singh Saini won
Prestigious Police Award in Texas.
1. A Memorandum of Understanding (MoU) was signed
on 18 April 2015 between Rail Vikas Nigam Limited
(RVNL) and Dighi Port Limited to facilitate
construction of 34 km of railway link between Roha
and Dighi Port in Raigad district of Maharashtra.
2. India, Thailand sign multiple agreements including
double taxation avoidance treaty.
3. India and United States have signed a series of
agreements on health in order to enhance
cooperation in health sector.
4. India and Belarus decided to work together on
defence and security issues as President Pranab
Mukherjee met his Belarusian counterpart and



Page 34

agreed on a 17-point road map aimed at

strengthening mutual trust and confidence.
5. The Loan and Project Agreements for World Bank
(IBRD) assistance of US$ 400 million for Tamil Nadu
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 ZTEsoft 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.
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
3. Union Ministry of Statistics and Programme
Implementation (MOSPI) has sacked Dr Bimal K Roy
as the Director of Indian Statistical Institute (ISI).
4. Dick Costolo resigned as CEO of Twitter Inc.
5. Fifa president Sepp Blatter resigned.


6. C.S Verma steps down as SAIL CMD.

7. TN CM O Panneerselvam resigns, makes way for
Jayalalithaa to take over as the CM.
Books & Their Authors
1. Transcendence: My Spiritual Experiences with
Pramukh Swamiji written by Abdul Kalam
2. Book titled Modi - Incredible emergence of a star in
Chinese language written by Tarun Vijay
3. Education of Muslims: An Islamic Perspective of
Knowledge and Education Indian Context edited
by Professor JS Rajput.
4. Pakistan's Ex-Foreign Minister Khurshid M Kasuri
penned 'Neither a Hawk nor a Dove'
5. Former Lok Sabha Speaker Meira Kumars book
entitled Indian Parliamentary Diplomacy
Speakers Perspective was released.
6. PM Narendra Modi launched Born Again on the
Mountain by Arunima Sinha
7. Prince of Gujarat: The Extraordinary Story of
Prince Gopaldas Desai released authored by
Rajmohan Gandhi.
8. Rajdeep Sardesai penned the book titled 2014: The
Election That Changed.
9. Book titled Letters for a Nation written by
Jawaharlal Nehru & Madhav Khosla was published
by Allen Lane an imprint of Penguin Books .
10. Next China-India War- World's First Water War
authored by General S. Padmanabhan released.
11. The book titled Black Tornado: The Three Sieges of
Mumbai 26/11 authored by Sandeep Unnithan.
12. President of India Pranab Mukherjee penned a book
titled The Dramatic Decade: The Indira Gandhi
Years.published by Rupa.
13. Biography My Name is Abu Salem released written
by S Hussain Zaidi and published by Penguin.
14. 'Playing it My Way': Author - Sachin Tendulkar &
Boria Majumdar
15. Half Girlfriend - written by Chetan Bhagat
16. The Narrow Road to the Deep North authored by
Richard Flanagan
17. Untold Story of Indian Public Sector - authored
by Dr UD Choubey,
18. Final Test: Exit Sachin Tendulkar authored by
Dilip DSouza
19. A Man and a Motorcycle, How Hamid Karzai Came
to Power: written by Bette Dam
20. And
Shah's autobiography
21. God of Antarctica written by Yashwardhan Shukla:



Page 35

22. One Life is Not Enough : written by Kunwar

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.

Leaders visited India/World

1. North Koreas 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


7. US president Barack Obama visited India in the late

8. Mark Zuckerberg: Facebook founder visited India
9. Amazon founder Jeff Bezos visited India.
10. Frank Walter: Foreign Minister of Germany visited
1. Malli Mastan Babu, India's ace mountaineer passes
2. Renowned Assamese filmmaker and actor Bidyut
Chakraborty breathed his last in a private nursing
home in Guwahati after brief illness.
3. Former Governor of Assam and three-time Chief
Minister of Odisha Janaki Ballav Patnaik passed
4. Sister Nirmala Joshi, former Superior General of
Missionaries of Charity passed away in Kolkata after
brief illness at the age of 81.
5. Former Indian women hockey team captain Shashi
Bala passed away on 21 June 2015.
6. Charles Correa, face of contemporary architecture
in India passes away.
7. 2004 Nobel Chemistry winner Irwin Rose dies.
8. Legendary actor Sir Christopher Lee passes away.
9. Sheila Kaul, former Governor of Himachal Pradesh,
10. Aruna Shanbaug, the former nurse at KEM Hospital
here who was brutally sexually assaulted by a ward
boy, passed away.
11. John Forbes Nash Jr., the Princeton University
mathematician, died along with his wife in a car
1. China: 14 16 May
* Highlights:
Modi will a three-nation tour of China, Mongolia and
South Korea from May 14 to 19.
*According to officials, the visit is aimed at giving a
boost to the East Asia policy aligning it with Make in
India initiatives and bringing momentum to the
countrys foreign policy in the strategically significant
A. During the Modi's visit, India would seek greater
market access, removal of non-tariff barriers and
investments in sectors such as defence.
B. China has already signed MoUs to set up industrial
parks in India.
Key persons--Xi Jinping (President)



Page 36

5. Germany: 12 14 April

2. Mongolia: 16 17 May
A. Mongolia and India are keen to move forward on the
MoU for Uranium supply that the two countries had
entered in 2009.
B. Mongolia is keen on Indian helping the country in
cyber security.
C. Help in border patrolling is another area where the
two countries will be stepping up the ties.
* Key person --Chimed SaikhanbilegPM

The PMs visit to Germany was widely covered by the
media there especially his inauguration of the famous
Hannover industrial fair along with German Chancellor
Angela Merkel.
A. Both leaders spoke in favour of a free trade
agreement between the European Union and India. PM
Modi said that this was important for the expansion of
India as a manufacturing hub.
B. The joint statement by both countries recognized the
establishment of a working group on urban
* Germany chancellor--- angela merkel
6. France: 9 12 April

3. South Korea: 18 19 May

A. His visit to South Korea has a definite Make in India
angle to it.
B. India is keen on getting investment and going for
joint manufacturing in areas where South Korea has a
technological edge.
C. In the manufacturing sector, South Korean
companies including Samsung, LG and Hyundai that
have strong presence in India.
* Key person --President Park Geun-hye , Prime
minister--Lee Wan-koo
4. Canada: 14 16 April
* The first official visit by an Indian PM in over 40
years, is a sure sign that relations between our two
countries are reaching new heights.
A. The visit, which resulted in several new bilateral
agreements and commercial deals worth over $1.6
B. These include energy, railway transportation,
education and skills development, space cooperation,
and maternal, newborn and child health.
C. One of the commercial agreements signed was for a
Canadian company, Cameco, to supply over 3.175
million kg of uranium concentrate to India over the next
five years for the generation of electricity.
* Key person --Stephen Harper-PM


* 20 pacts signed between India and France
*Participate in the Make In India programme in
defense, civil nuclear power and food processing
* India asked France to supply 36 Rafale fighter jets in
fly-away condition
* Key Person-French President Francois Hollande.
7. Singapore: 29 March
A. Prime Minister Modi attended the state-funeral of Lee
Kuan Yew,
* The first Prime Minister of Singapore.
* There, at the sidelines, he met several world leaders
including Israeli President.
*It was his first visit to Singapore and he is expected to
visit again during the later part of the year for golden
jubilee celebration of India-Singapore diplomatic
8. Sri Lanka - 13 14 March
4 agreements with Sri Lanka:
* Customs pact to balance trade,
* Credit line of more than $300 million,
* Currency swap agreement
* Visa on arrival for Sri Lankan nationals in India.
* Prime Minister Narendra Modi today flagged off a
train service at the north-western Sri Lankan town of
.The newly-constructed 63-km railway track between



Page 37

Madhu Road and Talaimannar Pier is the last segment

of the 265-km long
* Key personsPresident -Maithripala SirisenaRanil
Prime minster --Wickremesinghe


9.Mauritius - 11 13 March


* Highlights:
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

* 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





Brendon McCullum conferred with Sir Richard

Hadlee Medal for 2014-15.
Planet named after Indian chess grandmaster
Viswanathan Anand.
Indian Grandmaster Dronavalli Harika wins bronze
in World Womens chess championship
Gursimran 'Sim' Bhullar became the first player of
Indian descent to play in the high-profile National
Basketball Association (NBA) league as he made
his debut for Sacramento Kings.
Ace Indian shooter Jitu Rai won a bronze medal in
the 10m air pistol event at the International
Shooting Sport Federation (ISSF) World Cup in
Changwon, South Korea.
Indian cricket icon Sachin Tendulkar was inducted
as one of the five new members into the
prestigious Laureus Sports Academy in a glittering
annual award ceremony at the Shanghai Grand
Formula One world champion Lewis Hamilton won
the Bahrain Grand Prix for the second year in a
row with Ferrari's Kimi Raikkonen back on the
Mercedes Formula 1 driver Lewis Hamilton from
Britain won Chinese Grand Prix of Formula One on
the Shanghai International Circuit in China. This
was his second win of the season and his fourth
Chinese Grand Prix win. It was also Lewis
Hamiltons overall 35th Grand Prix win.
Australia and New Zealand will play cricket's first
day-night Test in Adelaide from late November.
A quick but frustrating draw for Viswanathan
Anand proved enough for Veselin Topalov to claim
the Norway Chess 2015 title in Stavanger, Norway.
Satnam Singh Bhamara, the first Indian-born
player to be drafted in the NBA League.
Former Pakistan cricket team captain Zaheer Abbas
has been selected the new President of
International Cricket Council (ICC) for one year
Federer Wins Weber Title for Eighth Time.
Nico Rossberg of Mercedes wins Austrian Grand
Prix of F1.
Sunil Chhetri becomes first Indian to score 50
international goals.
Jwala Gutta, Ashwni Ponappa win womens
doubles title of Canada Open Badminton
Inderjeet Singh, Jinson Johnson won gold at Asian
Athletics Grand Prix.


Page 38

20. Former West Indies fast bowler Wes Hall was

inducted into the ICC Cricket Hall of Fame.
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 footballs
governing body FIFA.
23. De Villiers crowned South African cricketer of the
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
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
39. Shooter Gurpreet Singh qualifies for Rio 2016.


40. Lalit Bhanot was elected vice-President of the

Asian Athletics Association (AAA) in Wuhan, China.
41. Sangakkara named CEAT International Cricketer of
the Year & Rahane is Indian Cricketer of the Year
in the CEAT awards.
42. Mandeep Kaur wins two gold medals at World
Junior Championship.
43. Mumbai Indians put up an all-round show to
outshine Chennai Super Kings by 41 runs in the
final to win the Indian Premier League 2015.
44. Mercedes driver Nico Rosberg of Germany won
Monaco Grand Prix of Formula One.
45. Karnataka clinch eighth Ranji Trophy title. They
defeated Tamil Nadu to retain the Ranji Trophy.
46. East Zone lifts Deodhar Trophy cricket tournament,
beating West Zone by 24 runs at the Wankhede
Stadium in Mumbai.
Miami Open 2015 - Winners
Mens Singles Title
World No. 1 and Serbian ace tennis player Novak
Djokovic has won the 2015 Miami Open Mens Singles
Womens singles Title
World No. 1 and American ace tennis player Serena
Williams has won the 2015 Miami Open Womens
singles Title.
Mens doubles Title
American Bob Bryan and Mike Bryan pair has won the
2015 Miami Open Mens doubles Title.
Womens doubles Title
Indias Sania Mirza and Switzerlands Martina Hingis pair
has won 2015 Miami Open Womens doubles Title.
Rome Masters 2015: Winners
Women's Singles - Maria Sharapova
Men's Singles - N. Djokovic
Women's Doubles - Timea Babos and Kristina
Men's Doubles - P. Cuevas and D. Marrero
French Open
Men's Single - Winner = Stan Wawrinka
(Switzerland), Runner Up = Novak Djokovic (Serbia)
Women's Single - Winner = Serena Williams (USA),
Runner Up = Lucie afov (Czech Republic)



Page 39

Australian Open
Men's Single - Winner = Novak Djokovic (Serbia),
Runner Up = Andy Murray (UK)
Women's Single - Winner = Serena Williams (USA),
Runner Up = Maria Sharapova (Russia)

1. India -2016
2. Australia - 2020
1. England 2017 (for first time).
2. India - 2021.

BNP Paribas Open

i. Men's Singles - Novak Djokovic defeated Roger
ii.Women's Singles - Simona Halep defeated Jelena
iii.Men's doubles - Vasek Pospisil/Jack Sock defeated
Simone Bolelli/Fabio Fognini
iv.Women's doubles - Martina Hingis / Sania Mirza
defeated Russia Ekaterina Makarova / Russia Elena

FIFA (Football) World Cup venue:

IPL 2015
IPL 2015
IPL 2015
IPL 2015 Runner Up
Orange Cap
Purple Cap
Emerging Player
Highest Individual
Most Number of Sixes

Mumbai Indians
Chennai Super Kings
David Warner
Dwayne Bravo
Shreyas Iyer
AB De Villiars
Chris Gayle


Australia defeated Newzealand in the finals of the
cricket world cup 2015 by 7 wickets.
The finals were played at the Melbourne cricket
Australia defeated India and Newzealand defeated
South Africa respectively in the Semi finals of the
world cup.
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)
ICC World Cup Cricket Venue: ODI: (One day
1. Australia & New Zealand: 2015.
2. England - 2019
3. India 2023


1. 2018 : Russia
2. 2022: Qatar
Commonwealth Games venues:
1. 2014 Glasgow (Scotland).
2. 2018 Gold Coast (Australia).
Olympics Games venues:
1. 2014 winter: Sochi (Russia) Russia tops in the
medal tally in 2014 winter Olympic games.
2. 2016 Summer: Rio de Janeiro (Brazil)
3. 2018 winter: Pyeongchang (South Korea)
4. 2020 summer: Tokyo (Japan)
1. Defence Minister Manohar Parrikar launched the
submarine at the Mazagaon Dockyard Ltd in
2. Isro IRNSS-1D Launch Puts India a Step Closer to
Own GPS-Like System.
3. HAL has delivered Orbiter Craft Module Structure
of Chandrayaan-2 to ISRO Satellite Centre (ISAC).
4. Brightest Galaxy in Early Universe named after
Cristiano Ronaldo as CR7.
5. India successfully test-fired its nuclear-capable
Dhanush ballistic missile with a strike range of 350
km from a naval ship off the Odisha coast.
6. India successfully test-fired nuclear weaponscapable Agni-III ballistic missile from the Wheeler
Island off Odisha coast. The missile has a strike
range of more than 3,000 k.m.
7. The Indian Navy launched Visakhapatnam, the
first of stealth destroyers under the P15-B project.
8. Surface-to-air short range Akash missile system
inducted into Indian Army.
9. A strategically important new Naval base INS
Sardar Patel was commissioned in Porbandar.
10. India-Singapore bilateral naval exercise SIMBEX-15
commences in Singapore.
11. In an attempt to practise using highways for
emergency landings, an IAF Mirage 2000 jet



Page 40










successfully test landed on the Yamuna

Expressway in Uttar Pradesh.
Indian Navy's latest anti-submarine warfare class
stealth corvette, the INS Kavaratti was launched.
INCOIS launches app for fishermen - The app is
developed by the Hyderabad-based Indian National
Centre for Ocean Information Services (INCOIS)
Marine Fishery Advisory Services team
Indias indigenously developed Beyond Visual
Range (BVR) air-to-air missile Astra was
successfully tested from a Sukhoi- 30 fighter
thermonuclear cruise missile with Sukhoi-30MKI
after over two years of work, modifying the
Russian-made aircraft.
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.
A Delta 2 rocket carrying Soil Moisture Active
Passive (SMAP) satellite was launched from
Vandenberg Air Force Base on Californias central
India successfully test-fired its indigenously
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
Wheelers Island off Odisha
SpaceX Falcon 9 rocket successfully launched from
Indian Navy had conducted Humanitarian
Assistance and Disaster relief (HADR) exercise
Islands (Kavaratti, Aggatti,
Kalpeni and Androth). HADR was Indian Navys
large scale exercise to test its readiness for
handling a tsunami like disasters.
Cisco Systems picks Visakhapatnam as first smart
Visakhapatnam will be the first city to be taken up
for development as a smart city by Cisco Systems,
the global IT networking major and the
implementing company.
Indias communication satellite GSAT-16 launched
from Kourou in French Guiana functioning
normally. GSAT 16 has highest number of 48
transponders that will be used for television,
telephone and internet applications.


Missiles in use of Indian Army:

Prithvi I - 150km - Surface to Surface short
range ballistic missile.
Prithvi II - 350km
Prithvi III - 350km - 600km
Agni I - 700km -1250km Surface to Surface
short range ballistic missile.
Agni II - 2000km -3500km
Agni III - 3500km -5000km
Agni IV - 3000km -4000km
Agni V - 5500km -5800km
Agni VI - 8000km -3500km
Akash- 30 km

Business News
1. Snapdeal acquires majority stake both in
RupeePower and FreeCharge.
2. Online fashion retailer Myntra shut it's website on
1st May 2015; to be available as a mobile app only
3. Cricketer Yuvraj Singh starts his new innings as
businessman with YouWeCan Ventures, aiming to
support young entrepreneurs by investing in
startups across sectors.
4. Major Indian Steel Companies viz. Steel Authority
of India Limited (SAIL), Tata Steel, JSW Steel of
Jindal Group, Jindal Steel and Power Limited,
Rashtriya Ispat Nigam Limited (RINL), National
Mineral Development Corporation (NMDC) and



Page 41










Metallurgical & Engineering Consultants (India)

Limited (MECON) partnered with Union Ministry of
Steel to set up Steel Research & Technology
Following popular outrage against net neutrality
violations to internet apartheid, eretailer Flipkart
pulled out of the controversial Airtel Zero
preferential access platform.
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.
Bharat Heavy Electricals Limited (BHEL), an
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.
Metals and mining conglomerate Sesa Sterlite has
changed its name to Vedanta Ltd to better align
with its international identity Vedanta
Iconic business leader Ratan Tata has acquired a
stake in Chinese handset maker Xiaomi, the first
investment by any Indian in the smartphone
Online marketplace Flipkart has acquired Delhibased mobile engagement and marketing
automation company Appiterate.
Sunil Mittal-led Bharti Airtel has become the
worlds third largest mobile operator with 303
million subscriber.
BRICS bank to be operational by end of 2015:
South Africa.
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.
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.
National Stock Exchange (NSE) on 22 June 2015
operationalised the Overnight Liquid Transaction
facility on its web-based Mutual Fund Service
System (MFSS) platform.
In a bid to address misleading advertisements, the
Advertising Standard Council of India (ASCI)











application ASCIonline, to provide consumer
complaint services on a mobile app besides
providing the facility online.
Anil Ambani-led Reliance Power signed an
agreement to invest $ 3 billion in setting up a
mega power plant and a floating LNG import
terminal in Bangladesh which faces acute power
SpiceJet signs deal to sell tickets to waitlisted
railway travellers.
After fighting tooth and nail with online retailers,
the apex body of small traders, Confederation of
All India Traders (CAIT), has decided to launch its
own ecommerce portal named 'e-Lala'.
Microsoft begins rebranding of Nokia Priority
Stores.India is the first country among Microsoft's
global markets to roll out the new look for its retail
Reliance Capital, part of Anil Ambani-led Reliance
Group appointed B Gopkumar as chief executive of
its broking and distribution business.
State-run BSNL launched free roaming, , which will
allow all its mobile customers across the country to
receive incoming calls at no cost.
The National Association of Software and Services
Companies (Nasscom) signed an MoU with India
Electronics and Semiconductor Association (IESA)
to speed up 'Make in India' and 'Digital India'
agenda for electronic system design and
manufacturing (ESDM) and IT.
FDI in services sector up 46% in 2014-15.
Future Group's Retail Business to Merge With
Bharti Retail.
Microsoft India unveiled Edu-Cloud, a cloud
computing-based offering, designed to offer digital
learning and teaching in schools and higher
educational institutions through virtual learning
platforms in India.
India is home to 56 of the worlds 2000 largest and
most powerful public companies, according to the
Forbess annual list which is topped by the US with
its share of 579 companies.
Reliance Industries has signed up for a $750
million loan, backed by Korea Trade Insurance
Corp, to primarily finance the procurements for its
infrastructure rollout from Samsung Electronics
and Ace Technologies Corp.
The government will sell its 10 per cent stake in
blue-chip Indian Oil Corporation (IOC) and 5 per
cent in power producer NTPC to mop up about Rs


Page 42




13,600 crore in this fiscals first disinvestment

The Government has managed to restrict the fiscal
deficit to 4 per cent during 2014-15, which is even
below the revised estimate announced in the
Taxi aggregator TaxiForSure announced a tie-up
with mobile commerce platform Paytm to enable
Paytm users to pay for the cab service through
their prepaid wallet.
IRCTC Partners With MyDala To Offer Deals To
Ticket Buyers.
Infosys is first Indian company to join RE100
global renewable energy campaign.
Reliance Jio Infocomm, the telecom arm of
Reliance Industries (RIL) has signed a pact with
Chinese firm Huawei for sourcing various 4G

1. World Heritage Day was observed across the world
on 18 April 2015.
2. World Haemophilia Day was observed globally on
17 April 2015 with theme Building a family of
3. International Mother Earth Day was observed
globally on 22 April 2015 with the theme Its our
turn to lead.
4. National Panchayati Raj Day was observed across
India on 24 April 2015
5. World Malaria Day (WMD) was observed on 25
April 2015. The theme for the 2013-2015 campaign
is Invest in the Future. Defeat Malaria.
6. 14th June: World Blood Donor Day
7. Kerala Government declares June 22 as Snake Bird
8. India set for World Yoga Day on 21 June 2015.
9. World Press Freedom Day is annually observed on
May 3 to inform the international community that
freedom of the press and freedom of expression
are fundamental human rights.
10. Russia celebrates victory day on 9th May.
11. Every year, `National Technology Day is observed
across India on May 11.
12. The United Nations (UN) observed the
International Day for Biological Diversity (IBD) on
22 May 2015. The theme was Biodiversity for
Sustainable Development.


1. Railway Minister Suresh Prabhu introduced the
mobile app for paperless unreserved ticketing for
commuters in Egmore and Tambram suburban
sections in Chennai under Southern Railway zone.
2. Chhurim Sherpa, first woman to climb the Mount
Everest summit twice in a week.
3. Operation Raahat was in news as India launched a
massive air and sea operation to evacuate over
4000 Indian nationals from Yemen
4. India launched a relief and rescue Operation
named Maitri in earthquake hit Nepal.
5. The BJP-led NDA government has dropped the
names of former Prime Ministers Indira Gandhi and
Rajiv Gandhi from two awards. The Indira Gandhi
Rajbhasha Puraskar and Rajiv Gandhi Rashtriya
Gyan-Vigyan Maulik Pustak Lekhan Puraskar,
launched more than two decades ago, have given
way for Rajbhasha Kirti Puraskar and Rajbhasha
Gaurav Puraskar.
6. Two Indian organizations, India Army and Indian
Railways are among the worlds biggest employers.
It was revealed in a research published by the
World Economic Forum (WEF). Both organisations
employ around 2.7 million people together.
7. The government of India has released stamp s and
coins of the denomination of Rs.10 and Rs.100 on
International Yoga Day (IYD) on June 21.
8. Op DOGA to secure Yoga Day event.
9. Union Government has exempted builders from
obtaining prior green nod for construction of
Universities, School, College and Hostel facilities.
10. BIS App launched by Union Food and Consumer
Affairs Minister Ram Vilas Paswan.
11. Government to Give Rs 6,000 Crore Interest-Free
Loans to Sugar Mills.
12. Manu Prakash, who amazed the world last year by
building a paper microscope, has now come up
with a computer that works by moving water
13. The countrys current account deficit (CAD)
narrowed sharply to USD 1.3 billion, or 0.2 per
cent of Gross Domestic Product (GDP), in the
fourth quarter. The CAD shrank to 1.3 per cent of
GDP for full financial year 2014-15.
14. The Foreign Investment Implementation Agency, a
brainchild of the former Vajpayee government, is
set to get a new lease of life under Prime Minister
Narendra Modi.
15. Union Government has scrapped customs import
duties for drugs and test kits used to treat Human



Page 43







immunodeficiency virus infection and acquired

immune deficiency syndrome (HIV/AIDS).
Department of Atomic Energy (DAE) launched
India Nuclear Insurance Pool (INIP).
China launched worlds first electric passenger
aircraft BX1E.
CRPF to adopt village in earthquake-hit Nepal
named Karikat village near Birganj in Nepal to
provide people immediate relief and help in its
Buenos Aires is worlds bookstore capital.
The first centre for Gandhian studies in China
inaugurated at Shanghais Fudan University by
Prime Minister Narendra Modi.
To cash in on growing online shopping trend, India
Post Delhi circle will start its e-commerce centre
from 11th May 2015.
Centre approves Rs. 20,000-crore budget for
Namami Gange scheme.
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
Infosys to open first overseas campus in China.
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.
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.
National Association of Software and Services
Companies (NASSCOM) and Data Security Council
of India have launched NASSCOM Cyber Security
Task Force.
Finance minister Arun Jaitley had announced the
setting up of the National Investment and
Infrastructure Fund(NIIF) in the Union Budget.
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

Amendments by the Govt.

1. Union Cabinet has approved lowering of age of
juveniles from eighteen to sixteen years for heinous


2. Union Cabinet has given nod to rename Solar Energy

Corporation of India (SECI) as the Renewable Energy
Corporation of India (RECI).
3. Employee Provident Fund Organisation (EPFO) has
notified an order to make Universal Account Number
(UAN) mandatory for all its employers. It will be
mandatory for all employers covered under the
Employees Provident Funds and Miscellaneous
Provisions Act, 1952.
4. The Union Government decided to increase the
number of workdays under Mahatma Gandhi
(MGNREGA) from 100 days to 150 days in droughtaffected areas of the country.
5. The Union Cabinet approved the 119th Constitutional
Amendment Bill on Land Boundary Agreement (LBA)
between India and Bangladesh. Under the land
boundary agreement, India and Bangladesh will
exchange several enclaves which are under each
other's adverse possession.
6. The long-pending GST bill was approved by Lok
Sabha after a walkout by Congress even as
government vowed to compensate states for any
revenue loss and assured that the new uniform
indirect tax rate will be much less than 27 per cent
recommended by an expert panel.
7. A stringent law imposing 120 per cent tax, jail term
of up to 10 years and penalty on undisclosed foreign
assets and income to deal with the black money
menace was passed in Lok Sabha by voice vote and
with support from the Opposition.

8. The Lok Sabha passed the negotiable Instruments

(Amendment) Bill, which aims at making filing of
cases more convenient for payees if cheques



Page 44

Key Highlights Quoting PAN a must for all purchases above Rs
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
Investment in infrastructure to go up by Rs 70,000
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
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, NonBanking Financial Companies (NBFCs) registered
with Reserve Bank of India (RBI) above _______


will be now considered as financial institutions? Rs. 5,000 crore

6. How much amount has been allocated for Rural
Employment Guarantee Scheme in the Union
Budget 2015-16? - 346.99 billion rupees
7. How much amount has been allocated to Defence
sector in the Union Budget 2015-16? - Rs.
2,46,726 crore

8. According to the Union Budget, how much per cent

of Revenue Deficit to be seen in 2015-16? - 2.8%
9. According to the Union Budget 2015-16, how much
per cent, rate of corporate tax will be reduced over
next four years? - 25%
10. According to the Union Budget 2015-16, now details
of PAN has to mentioned compulsory for
transactions for more than _____.- Rs. 1 lakh
11. In the Union Budget 2015-16, increase in the limit
of health insurance premium from current Rs
15,000 to ____.Rs. 25,000
12. How much amount has been allocated for microirrigation watershed projects in the Union Budget
2015-16? - Rs. 5,300 Crore
13. How much amount has been allocated to
Infrastructure sector in the Union Budget 2015-16?
Rs. 70,000 crore
14. According to the Union Budget 2015-16, Visa on
arrival for how many countries? 150



Page 45

15. According to the Union Budget, Centre of film

production, animation and gaming to come up in
_____. AP
16. On which date Union Budget 2015-16 was
presented in Parliament? - 28 February 2015
17. Name the Union Finance Minister who presented
the Union Budget 2015-16 in Parliament? - Arun
18. Personal Income Tax limit was not changed in
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
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
Presented By - Union Finance Minister Arun Jaitely
on 27 February.
What is Economic Survey - The Economic Survey
reviews the developments in the Indian economy over
the previous 12 months, summarises the performance
on major development programmes and highlights the
policy initiatives of the government and the prospects
of the economy in the short to medium term.


Highlights of the Economic Survey 2014-15

GDP growth is expected to accelerate to between 8.1
and 8.5 percent in 2015-16.
Inflation is likely to remain in the 5-5.5 percent range
in 2015-16.
The current account deficit estimated to be 1.0
percent in the fiscal year 2015-16.
Food grains production for 2014-15 is estimated at
257.07 million tones.
India ranks well above the mean for its investment
grade category (BBB), and also above the mean for the
investment category above it (on the basis of the new
growth estimates).
Expenditure control and expenditure switching from
consumption to investment will be the key to growth in
the short-run.
It calls for complementing Make in India initiative with
Skill India initiative to enable a larger section of the
population to benefit from the structural transformation
that such sectors will facilitate.
The Model APMC Act, 2003 should be amended along
the lines of the Karnataka Model that has successfully
introduced an integrated single licensing system.
The Survey calls for adhering to the medium-term
fiscal deficit target of 3 percent of GDP. This will
provide the fiscal space to insure against future shocks
and also to move closer to the fiscal performance of its
emerging market peers.
It also calls for moving toward the golden rule of
eliminating revenue deficits and ensuring that, over the
cycle, borrowing is only for capital formation.
Expenditure control combined with recovering growth
and the introduction of the GST will ensure that
medium term targets are comfortably met.
In the short run, the need for accelerated fiscal
Commission (FFC).
Food Subsidy Bill stands at 107823.75 crore rupees
during 2014-15 (up to January 2015) which means an
increase of 20 percent over previous year
The direct fiscal cost of select subsidies is roughly
378,000 crore rupees or 4.2 percent of GDP in 2011-12.
41 percent of subsidy given for the PDS kerosene is
lost as leakage and only 46 percent of the remaining 59
percent is consumed by households that are poor.
The JAM Number Trinity Jan Dhan Yojana, Aadhaar,
Mobile can enable the State to transfer financial
resources to the poor in a progressive manner without
leakages and with minimal distorting effects.



Page 46

The railways public investment multiplier (the effect of

a 1 rupee increase in public investment in the railways
on overall output) is around 5.
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
Corporate safety Plans; ISRO to be involved; 3438
level Xings to be eliminated, Rly expense increased by
MUTP-III project for Mumbai.
Malviya Chair at IIT BHU for Railway technology
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
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.

United Nations Headquarters

Narendra Modi Personnel, Public Grievances and
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
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,
Suresh Prabhu Railways


Uma Bharati Water resources, River Development

and Ganga Rejuvenation
Dr Najma Heptulla Minority Affairs
Ramvilas Paswan Consumer Affairs, Food and
Public Distribution
Kalraj Mishra Micro, Small and Medium
Maneka Gandhi Women and Child Development
Ananthkumar Chemicals and Fertilizers
Ravi Shankar Prasad Communications and
Information Technology
Ashok Gajapathi Raju Civil Aviation
Anant Geete Heavy Industries and Public
Harsimrat Kaur Badal Food Processing Industries
Narendra Singh Tomar Mines, Steel, Labour and
Jual Oram Tribal Affairs
Radha Mohan Singh Agriculture
Thaawar Chand Gehlot Social Justice and
Smriti Irani Human Resource Development
JP Nadda Health and Family Welfare
Birender Singh Rural Development, Panchayati
Raj, Drinking Water and Sanitation
DV Sadananda Gowda Law and Justice
Dr Harsh Vardhan Science and Technology Earth


International Organizations
UNO (United Nations Org)
UNCTAD (United Nations
Conference on Trade &
WHO (World Health Org)
ILO (International Labour Org)
WMO (World Meteorological Org)
World Intellectual Property Org
International Standards Org.
IMF (International Monetary
World Bank
UNESCO (United Nations
Educational Scientific and
Cultural Org)
OECD (Org. for Economic
Cooperation and Dev.)


New York
New York
Washington DC
Washington DC


Page 47

UNIDO (United Nations

Industrial Dev. Org)
IAEA (International
Energy Agency)
OPEC(Organization of Petroleum
Exporting Countries)
Amnesty International
Commonwealth of Nations
IM(International Maritime
ICJ (International Court of
FAO(Food and Agricultural
NATO(North Atlantic Treaty
Transparency International
SAARC(South Asian Association
for Regional Coop.)
ASEAN (Association of South
East Asian Nations)
APEC (Asia Pacific Economic
Organization of Islamic




The Hague

Madras atomic power plant - Tamilnadu

Kaiga atomic power plant - Karnataka
Kundankullam : in Tirunelveli district, Tamil Nadu
(India & Russia)
Jaitapur Nuclear Power Plant - Ratnagiri district in
Maharashtra (India & France)

Important Wildlife Sanctuary in India

Kaziranga Wildlife Sanctuary - Assam
Manas Wildlife Sanctuary - Assam
Gir National Park & Wildlife Sanctuary- Gujarat
Sundarbans National Park - West Bengal
Periyar National Park and Wildlife Sanctuary
Kanha National Park - Madhya Pradesh
Bandhavgarh National Park - Madhya Pradesh
Ranthambore National Park & Wildlife Sanctuary Rajasthan
Bharatpur Bird Sanctuary - Rajasthan
Tal Chappar Wildlife Sanctuary - Rajasthan
Sariska Wildlife Sanctuary - Rajasthan
Chilka Lake Bird Sanctuary Odissa
Nandankanan Zoo Odissa
Corbett National Park Uttrakhand

Stock Exchanges and their Index:

1. BSE (Bombay Stock Exchange) - SENSEX (Sensitive
Index)BSE is oldest stock exchange in Asia located
at Dalal Street in Mumbai. Sensex Consists of 30
2. NSE (National Stock Exchange) - Nifty-50-NSE is the
largest stock exchange in India. Nifty consists of 50
3. NYSE ( Newyork Stock Exchange) - DJ (Dow Jones)NYSE world's first and largest stock market
4. ASDAQ (National association of securities dealers
Automated Quotation System)- NASD-100-NASDAQ
is the firstelectronic stock market in the world
located in New York.
4. Tokyo Stock Exhange ( Japan) - Nikkei-225
5. Korea Stock Exchange( Seoul, South korea) Kospi
6. Shenghai Stock Exchange( China)- Composite Index
7. Shenzen Stock Exchange( China)- Composite Index
8. German Stock Exchange- DAX( Deutscher Aktein
Nuclear power plants in India:
Narora atomic power plant - Narora, UP
Hong Kong Stock Exchange- Hang Seng
Rajasthan atomic power plant: Rawatbhatta,
. SGX(Singapore Exchange)- STI (Straits Times
Rajasthan (India & Candada)
Tarapur atomic power plant Maharashtra (India &
LSE (London Stock exchange) or UK stock
exchange-Footsie or FTSE-100 (Financial Times and
Kakarpar atomic power plant - Gujarat
London Stock Exchange)
Page 48
Thermal Power plants (TPS) in India:
Mundra TPS, Kutch, Gujarat
Vindhyachal TPS, Singrauli, Madhya Pradesh
Talcher Super TPS, Angul, Odisha
Sipat TPS, Bilaspur , Chhattisgarh
Korba Super TPS, Chattisgarh
Rihand TPS, Sonebhadra, Uttar Pradesh
Jharsuguda TPS, Odisha
Tiroda TPS, Maharashtra
Anpara TPS Uttar Pradesh
Barauni TPP Bihar
Bellary TPP Karnataka
Durgapur TPP West Bengal
Sikka TPS Gujarat
Satpura TPS Madhya Pradesh
Singrauli Super Thermal Power Station UP
Wanakbori TPS Gujarat

12. France Stock Exchange - CAC-40 (Cotation Assistee

en Continuo)
Credit Rating Agencies in India and World:
Indian credit rating industry mainly comprises of
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
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
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
organization established on 24 October 1945 to
promote international co-operation.


Headquarter New York , Head Ban ki-moon Member

- South Sudan new member country . Total 193
2. WTO (World Trade Org.) Yemen new member
country. Total 160 members.
Headquarter Geneva, Switzerland, Head - Roberto
3. World Bank - The World Bank is a United Nations
international financial institution that provides loans to
developing countries for capital programs.
Headquarter - Washington D.C. (United States)
President Jim Yong Kim
Member - South Sudan new member country. Total
188 members
4. IMF The International Monetary Fund (IMF) is an
international organization that was initiated in 1944 at
the Bretton Woods Conference and formally created in
1945 by 29 member countries.
Headquarter Washington DC . (United States)
President Christine Lagarde
Member - South Sudan new member country. Total
188 members
5. European Union Croatia new member country.
Total 28 member countries.
Headquarter Brussels, Belgium
President of the European Commission:
JeanClaude Juncker
6. Eurozone - The growth of the eurozone is an
ongoing process within the European Union (EU). All
Member states of the European Union, except for
Denmark and the United Kingdom are obliged to adopt
the euro as their sole currency once they meet the
Member The eurozone currently comprise 19 EU
Note: i). Latvia becomes the 18th Member State to
adopt the euro on 1 January 2014.
ii. Lithuania has been approved for euro adoption on 1
January 2015.
7. ASEAN - Association of Southeast Asian Nations is a
political and economic organisation of ten countries
located in Southeast Asia, which was formed on 8
August 1967.
Headquarter Jakarta, Indonesia Member - 10 member
countries (India is not the member of ASEAN)



Page 49

8. APEC Asia Pacific Economic Cooperation is a

forum for 21 Pacific Rim member economies that seeks
to promote free trade and economic cooperation
throughout the Asia-Pacific region. It was established in
Headquarter Singapore Member 21

9. OPEC (Organization of the Petroleum

Exporting Countries) is an international organization
and economic cartel whose mission is to coordinate the
policies of the oil-producing countries.
Headquarter Vienna, Austria , Member - 12 member
President - Diezani Alison-Madueke
10. NATO (North Atlantic treaty Organization):
NATOs essential purpose is to safeguard the freedom
and security of its members through political and
military means.
Headquarter Brussels, Belgium Member 28 Member

questions submitted to it by duly authorized

international branches, agencies, and the UN General
Headquarter The Hague, Netherlands.
Chief Ministers of India 2015
1. Andhra Pradesh - N.Chandrababu Naidu
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
16. Maharashtra - Devendra Fadnavis
17. Manipur - Shri Okram Ibobi Singh
18. Meghalaya - Dr. Mukul Sangma
19. Mizoram - Shri Pu Lalthanhawla
20. Nagaland - Shri. T R Zeliang
21. Odisha - Shri Naveen Patnaik
22. Tripura - Shri Manik Sarkar
23. Punjab - Shri Parkash Singh Badal
24. Rajasthan - Smt. Vasundhara Raje
25. Sikkim - Shri Pawan Kumar Chamling
26. Tamil Nadu - Selvi J. Jayalalithaa
27. Telangana - K Chandrasekhar Rao Narasimhan
28. Uttar Pradesh - Shri Akhilesh Yadav
29. Uttarakhand - Shri Harish Rawat

11. SAARC (South Asian Association of Regional

an economic and geopolitical organization
eight countries that are primarily located in South
Asia or the Indian subcontinent.
Headquarter Kathmandu, Nepal 8 Member
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




Page 50


Bank of

Board of

Authority of
nt Authority

system and
Security &
broking &
Nidhis, Chit



U.K. Sinha



T. S.




New Delhi






New Delhi




Page 51





Page 52

1) January:
In January there are 5 important days
1)12 jan-National youth day (rashtriya yuva diwas)
2) 15 jan-Army day (sena diwas)
3)24 jan-National girl child day (rashtriya balika
4) 25 jan- National tourism day/ voter day
5) 30 jan- National martyr day(rashtriya shahid
diwas)/ Anti leprosy day
Story subject- January me mere ghar 5 tarah ke
log aaye
Trick with story- January me mere ghar paanch
tarah ke log aaye
jinme 12 yuva,15 sena ke log,24 balikaye,25-25
tourism aur voter or 30 shahid ke parivar ke log jo
leprosy ke shikar the.
Note-12,15,24,25,30 is days.
(2) February:
1) 4 feb- world Cancer day
2) 28 feb-National Science day
In February only 2 important days.
No of days-2(both related to science)
Story subject- February me science ne 2
experiment kiye
Trick-" February me science ne do experiment
kiye jinme 4 cancer ke marizo ko thik karne me
28 vigyan(science) ka use hua".

8 women ki 12 kidney 15 consumers ko 20 sparrow

ke through khushi khushi 21 forest me 22 water boat
ke jariye 23 metro stations par 24 T.B ke marizo ko
becha gaya.
Note- 20,21,22,23,24 days in sequence To bs tory
yaad rkhey.

4) April:
1) 2 april -Autism awareness day in
(AADami)/World autism day
2) 7 april- world health day
3) 21 april- Civil service day
4) 22 april- Earth day
5) 24 April- National Panchayati Raj day
No. Of days=5
Subject-chaar (april is 4th month) ka paanch


Trick with story2 AADamiyo be acche helath ke sath (7) 21 baar civil
service ka exam diya or ve do do (22) bar is dharti
(earth) par pass hue or end me 24 vi baar me unhe
Panchayat vibhag mila. (Hard work pays off)
5) May:
1) 1 may- international labour day
2) 3 may- world press freedom day
3) 11 may- National technology day
4) 21 may- Anti- terrorism day/death of Rajiv gandhi
5) 31 may- Anti-Tobacco day
No. Of days=5

3) March:
1)8 mar- International women day
2) 12th Mar-world kidney day
3) 15 mar-world consumer right day
4)20 mar- world sparrow day/happiness day(khushi
5) 21 mar- World forest day
6) 22 mar- world water day
7) 23 mar- meteorological day
8) 24 mar- World T.B day
No. Of days=8

Subject - Paanch ka panch

Trick with story1 (ek) Rajiv naam ka labour tha jisey 3 press (stri)
free me miley the jo 11vi sadi ki technology se bane
the par 21vi sadi me kuch terrorist ne Rajiv ko mar
kar usey 31 rupaye me Tobacco company ko bech
6) June:
1) 5 june- World environment day ( everyone knows)
2) 21 june- World Yoga day ( latest hai sb jante hai)

Note-(because of all days are WORLD days)

Subject- march ki 8 world famous Ghatnaye
Trick with story-

7) july
1) 1 july - National Doctor's day
2) 11july - world population day
No. Of days- 2




Page 53

Subject- Sath(7)-sath (7) 2 kadam chale

Trick with Story1 doctor ne san 20'11' ke population ko control kiya.
(8) August:
1) 6 August- hiroshima day
2) 9 aug- Nagasaki day
3) 12 aug- International youth day
4) 29 aug- National Sports day/ Dhyan chand day
No. Of days=4
Subject - 8(aug) ka adha 4
Trick with story"6 heros ne 9 naago ko 12 saal ke youth ko 29 bar
dhyan se khelne ko diya".
(9) September:
1) 5 sept- teacher's day
2)8 sept- world literacy day
3) 14sept- Hindi diwas
4) 15 sept- Engineer's day in India
5) 16 sept- World Ozone day
No. Of days=5
Subject - "5 sept. Ko teacher's day hota hai"( hum
sabhi jante hai iska mtlb sept. Me 5 days hote hai)
Ab baki ke 4 days
Trick with story"8 world ke literate person ko 14 hindi pe,15
engineering pe or 16 Ozone day pe essay likhwaya
Note-14,15,16 continue so remember story only
(10) October:
1) 2 oct- National non violence day/Gandhi day
2) 8 oct- Airforce day
3) 9 oct- world post office day
4) 24 oct- United nation day
No. Of days=4
Subject - oct. Me RRB-IV ka result ayega.
2oct ko gandhi ji ne Ahinsa(non-violence) ka nara
Trick with story for remaining 3.
"8 Airforce ne 9 letters post kiye 24 UN countries ko"

(11) November:
1) 17 Nov- World Students day
2) 18 nov- World Adults day
3) 19 nov- World Citizens day
4) 26 nov- National laws day
No.of days= 4
Subject - 114=44 ( means in nov. four days)
Trick with story "17 saal ke students jab 18 saal ke adults hue to
unhe 18 saal ke Citizens ne unhe 26 national laws
Note- (17,18,19) saal ke bachhe
(12) December:
1) 1 dec- AIDS day
2) 2 dec- World computer literacy day
3) 4 dec- Navy day
4) 10-dec- human rights day
5) 14 dec- National Energy Conservation Day
6) 24 dec- national consumers day
7) 25 dec- Good governance day(India)
No. Of days- 7
Subject - December ke sath sath (7) saal bhi chala
Tricks with story"1 Add (AIDS) me likha tha 2 computer literate ki
jarurt hai 4 dino ke ander Navy me jiske liye 10
human ne apne rights ke sath apply kiya or 14 dec.
Ko full energy ke sath interview diya or 24 ghante me
unhe national consumers ki post mili , is tarah 25
saal me unhe Good gav. Job mil gai" :))
1) 12 jan- National youth day
2) 12 aug- International youth day
Trick- "jane na (national) you(youth) ko kya oogI
(aug- International) ho you(youth)"
1)15 mar- World consumers rights day
2) 24 dec- National consumer rights day
Trick- Pahle consumers march me world me aaye
rights lene fir December me india (nation) me rights





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