BANKING AWARENESS

RBI Current Reserve Ratios and

Rates
1
Bank Rate
2
Repo Rate
3
Reverse Repo Rate
4
CRR
5
SLR
6
MSF

Policy
8.25%
7.25%
6.25%
4%
21.5%
8.25%

THE STRUCTURE OF INDIAN BANKING

The structure of the Indian banking system can
be categorized in two ways.
The first divides the banks into three
categories: the
Reserve Bank of India,
commercial banks and cooperative banks.
The second divides the banks into two
categories: scheduled banks and non-scheduled
banks.
In both of these systems of categorization, the
Reserve Bank of India, or RBI, is at the center of
the banking structure. It holds the reserve capital
of all commercial and scheduled banks in the
country.
Scheduled Banks
The eligibility criteria exist for scheduled banks:
a) The first of which entails carrying on the
business of banking in India.
b) All scheduled banks must maintain a reserve
capital of 5 lakhs rupees in the Reserve Bank of
India.
c) These are registered under the second
schedule of RBI Act, 1934.
Commericial Banks vs. Cooperative
Banks
Scheduled banks in India fall into two categories:
commercial banks and cooperative banks.
Commercial banks constitute those banks driven
by 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 AND ITS ROLES

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.
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.

CHEQUE
It is an instrument in writing containing an
unconditional order, addressed to a banker, sign
by the person who has deposited money with the
banker, requiring him to pay on demand a
certain sum of money only to or to the order of
certain person or to the bearer of instrument."
TYPES OF CHEQUE
1. Bearer Cheque or open Cheque
When the words "or bearer" appearing on the
face of the cheque are not cancelled, the cheque
is called a bearer cheque. The bearer cheque is
payable to the person specified therein or to any
other else who presents it to the bank for
payment.
2. Order Cheque
When the word "bearer" appearing on the face of
a cheque is cancelled and when in its place the
word "or 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 account.
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
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.

6. 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.

to dispense cash, receive cash, accept cheques,

give balances in the accounts and also give ministatements to the customers.
14.
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 the reason "funds insufficient" or "Exceeds
arrangement". This is known as 'Bouncing of a
cheque'.

7. 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).

15.
Demat Account:
The term "demat", in India, refers to a
dematerialised account for individual Indian
citizens to trade in listed stocks or debentures.

8. 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.
9. Credit Authorization Scheme
Credit Authorization Scheme was introduced in
November, 1965 when P C 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 sectors
10.
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.
11.
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.
12.
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.
13.
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

16.
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.
17.
Merchant Banking
When a bank provides to a customer various
types of financial services like 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.
18.
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.
19.
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).
20.
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.

21.
GAAR
The full form of GAAR is : General Anti-Avoidance
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 avoidance.
22.
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).
23.
Prime Lending Rate (PLR)
The rate at which banks lend to their best
(prime) customers. It is usually less than normal
interest rate.
24.
Wholesale Banking
Wholesale banking is different from Retail
Banking as its focus is on providing for financial
needs of industry and institutional clients.
25.
National
Electronic
Funds
Transfer System (NEFT)
RBI introduced an electronic funds transfer
system to facilitate an efficient, secure,
economical, 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).
26.
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.
27.
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.
28.
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
year.
29.
Forex Market
The Forex market deals with the multicurrency
requirements, which are met by the exchange of
currencies. Depending on the exchange rate that
is applicable, the transfer of funds takes place in
this market.
30.
Financial Inclusion
Financial inclusion or inclusive financing is the
delivery of financial services, at affordable costs,
to sections of disadvantaged and low income
segments of society.

MONEY MARKET INSTRUMENTS

The money market can be defined as a market
for short-term money and financial assets that
are near substitutes for money.
The term short-term means generally a period
upto one year and near substitutes to money is
used to denote any financial asset which can be
quickly converted into money with minimum
transaction cost.
Important Money Market
1. Call /Notice-Money Market:-1.Call/Notice
money is the money borrowed or lent on
demand for a very short period. When money is
borrowed or lent for a day, it is known as Call
(Overnight) Money. Intervening holidays and/or
Sunday are excluded for this purpose. Thus
money, borrowed on a day and repaid on the
next working day, (irrespective of the number of
intervening holidays) is "Call Money".
Notice Money:-When money is borrowed or lent
for more than a day and up to 14 days, it is
"Notice Money". No collateral security is required
to cover these transactions.
2. Inter-Bank Term Money:-Inter-bank market
for deposits of maturity beyond 14 days is
referred to as the term money market. The entry
restrictions are the same as those for Call/Notice
Money except that, as per existing regulations,
the specified entities are not allowed to lend
beyond 14 days.
3. Treasury Bills:-Treasury Bills are short term
(up to one year) borrowing instruments of the
union government. It is a promise by the
Government to pay a stated sum after expiry of
the stated period from the date of issue
(14/91/182/364 days i.e. less than one 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.
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 interest-bearing, 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 (ATM or Debit
Card), online account access or with a telephone
voice response system.
Foreign
Exchange
Reserves:Foreignexchange 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 correspond.
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 AND ITS TYPES

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 engaged in the business of loans
and advances, acquisition of stocks, debentures,
hire purchase.
NEGOTIABLE INSTRUMENTS
DEFINITION OF NEGOTIABLE INSTRUMENT
According to section 13 of the Negotiable
Instruments
Act, 1881, a negotiable instrument means
promissory note, bill of exchange, or cheque,
payable either to order or to bearer.
TYPES OF NEGOTIABLE INSTRUMENTS
There are three types of negotiable instruments
which are:
1. Promissory Note 2. Bill of Exchange 3.
Cheques
1. Promissory Note:
A Promissory Note is a written promise by the
debtor to pay a certain amount to the creditor.
Section 4 of the Negotiable Instrument Act has
defined Promissory Note as an instrument in
writing containing an unconditional undertaking,
signed by the maker, to pay a certain sum of
money only to or to the order of a certain
person.
2. Bill of Exchange:
An instrument in writing containing an
unconditional order, signed by the maker,
directing a certain person to pay a certain sum of
money only to, or to the order of, a certain
person or to the bearer of the instrument.
3. Cheques:
Cheque is a very common form of negotiable
instrument. If you have a savings bank account
or current account in a bank, you can issue a
cheque in your own name or in favor of others,
thereby directing the bank to pay the specified
amount to the person named in the cheque.

Foreign Accounts in India

a) NRO A/c (Foreign Tourist)
Can foreign tourists open a bank account in
India during their short visit?
Yes. Foreign tourists during their short visit to
India can open a Non-Resident (Ordinary) Rupee
(NRO) account (Current / Savings) with any
Authorised Dealer bank dealing in foreign
exchange. Such account can be opened up to a
maximum period of 6 months.
What are the documents required for
opening such accounts?
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 payments?
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
benefits?
Ans. Exchange Earners' Foreign Currency
Account (EEFC) is an account maintained in
foreign currency with an Authorized 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.
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:
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 NRIs/PIOs.
B. Non-Resident (External) Rupee Account
(NRE Account)
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
non-resident 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 weeks, 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)
A/C
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, RBI.

DICGC
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 DICGC.
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
insured?
Yes. If you have deposits with more than one
bank, deposit insurance coverage limit is applied
separately to the deposits in each bank.
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.
Can any insured bank withdraw from the
DICGC coverage?
No. The deposit insurance scheme is compulsory
and no bank can withdraw from it.

ATM
What is an Automated Teller Machine
(ATM)?
Automated Teller Machine is a computerized
machine that provides the customers of banks
the facility of accessing their account for
dispensing cash and to carry out other financial
& non-financial transactions without the need to
actually visit their bank branch.
What type of cards can be used at an ATM?
The ATM debit cards, credit cards and prepaid
cards (that permit cash withdrawal) issued by
banks can be used at ATMs for various
transactions.
What are the services/facilities available at
ATMs?
In addition to cash dispensing ATMs may have
many services/facilities enabled by the bank
owning the ATM 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 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.

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 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 recrediting 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.

BANKING OMBUDSMAN SCHEME 2006

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.

BANKS IN INDIA AS ON April 2015

1) There are a total of 27 PSBs in India [21
NationaliZed banks + 6 State bank group (SBI +
5 associates)]
2) At present there are 22 Private Banks
functioning in India
3) At present there are 56 RRBs (Regional Rural
Banks ) functioning in India.
4) At present there are 41 Foreign Banks
functioning in India
PRIORITY SECTOR LENDING
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
branches.
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:
Agriculture
Micro, Small and Medium Enterprises
Export Credit
Education
Housing
Social Infrastructure
Renewable Energy
Others

3. What are the Targets and Sub-targets for

banks under priority sector?
Domestic
Foreign
scheduled
banks
Categorie commercial banks
s
and
with less
Foreign banks with
20
than 20
branches and
above
branches
Total
40 percent
Adjuste
Priority
of
d
Ne
Sector
t
Bank
Credit
or
40 percent of Adjusted Credit
Net Bank Credit or
Credit
Equivalent
Equivalen
t
Amount ofAmount of
OffBalance
SheetOff-Balance
whicheve
Exposure, r
isSheet
higher
Exposur
.
e,
whichever
is higher;
to
be
achieved
in a
phased
manner by
2020
Agricultur 18 percent of ANBC No
e
or
t
Credit Equivalent
applicab
Amount
le
of Off-Balance
Sheet
whicheve
Exposure, r
is
higher
.
th
Within e

18 percent
agricultur
target for e,
a
target of 8 percent
of
ANBC
or
Credit
Equivalen
t
Amount of

OffBalance
Sheet
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 No

Micro
or
t
Enterprise Credit Equivalent
s
Amount
Applicable
of Off-Balance
Sheet
whicheve
Exposure, r
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
Enterprise
foreig
s
for
n
bank
20
s
with
branches
abov
and e
would be
mad
applicab
e
le
post
2018 after a review
in
2017
.
10 percent of ANBC
Advances or
Not
to
Credit Equivalent
Weaker
Amount
Applicable
Sections of Off-Balance Sheet
Exposure,
whichever
is
higher.

(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
or Credit
Financial
Equivalent
Year
Amount of OffBalance Sheet
Exposure,
whichever is
higher
2015-16
32
2016-17
34
2017-18
36
2018-19
38
2019-20
40

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.

Manufacturing sector
Enterprises
Investment in plant and
machinery
Micro
Do not exceed twenty five
Enterprises
lakh
rupees
Small
More than twenty fivelakh
Enterprises
rupees
but does not exceed five
crore
rupees
Enterprises
Investment in equipment
Micro
Does not exceed ten lakh
Enterprises
rupees
Small
More than ten lakh rupees
Enterprises
but
does not exceed two crore
rupees
5. What is the loan limit for education
under priority sector?
Loans to individuals for educational purposes
including vocational courses upto `10 lakh for
studies in India and `20 lakh for studies abroad
are included under priority sector.
6. What is the limit for housing loans under
priority sector?
Loans to individuals up to 28 lakh in metropolitan
centres (with population of ten lakh and above) and
loans up to 20 lakh in other centres for
purchase/construction of a dwelling unit per family
provided the overall cost of the dwelling unit in the
metropolitan centre and at other centres should not
exceed 35 lakh and 25 lakh respectively.
7. Limits under Social infrastructure
Bank loans up to a limit of 5 crore per
for building social infrastructure for
namely schools, health care facilities,
water facilities and sanitation facilities in
Tier VI centres.

borrower
activities
drinking
Tier II to

8. Limits under Renewable Energy

Bank loans up to a limit of 15 crore to borrowers
for purposes like solar based power generators,
biomass
based power generators, wind mills, micro-hydel
plants and for non-conventional energy based
public utilities viz. street lighting systems, and
remote village electrification.
For individual households, the loan limit will be 10
lakh per borrower.

MISCELLANEOUS BANKING TOPICS

What is Asset Management Companies?
A company that invests its clients' pooled fund
into securities that match its declared financial
objectives.
Asset
management
companies
provide investors with 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 assets.
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 surplus.
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
co-ordination
of
cooperative banks, commercial banks and
other financial institutions in their respective
demises to bring about rapid economic
development.
CAMELS:
Capital Adequacy, Asset Quality, 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 stage:
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 nationalisation?
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 social objectives
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 Bank of Commerce
New Bank of India subsequently merged with
Punjab National Bank
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 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 systems.
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.
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.
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 )
The Business Correspondent carries a mobile
device.
The villager gives his thumb impression or
electronic signature, and get the money.
Business Correspondents get commission
from bank for every new account opened,
every transection made via them, every loanapplication processed etc.
KISAN CREDIT CARD
is a credit facility given to the farmers based
KCC
on
total yield capacity of their agriculture
the
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
banknotes?
(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 pieces.
(iii) Imperfect banknote means any banknote,
which is wholly or partially, obliterated, shrunk,
washed, altered or indecipherable but does not
include a mutilated banknote.

Unclaimed Deposits and Inoperative/

Dormant
Accounts
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 years.
REVERSE MORTGAGE LOAN
The scheme of reverse mortgage has been
introduced for the benefit of senior citizens
owning a house but 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 residence.
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.
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 Oct.,
4) At the end of June 1985, 183 RRBS with the
network of 10,245branches have opened in the
states of the Indian union..
5) SHARE HOLDER CONTRIBUTION IN %:
Government of India 50% Sponsor Bank 35%
State Government 15% Total 100%.
EXIM BANK:
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.
Capital: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.
SIDBI:
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.
NATIONAL HOUSING BANK (NHB):
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.
BASEL-3 NORMS
The Basel Committee is the primary global
standard-setter 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 stability. Stefan Ingves,
Governor of Sveriges Riksbank(SWEDEN), is the
chairman CHAIRMAN of the Basel Committee.
Basel III Accord - Basel 3 Norms
Basel III or Basel 3 released in December, 2010
is the third in the series of Basel Accords. These
accords deal with risk management aspects for
the banking sector.
What does Basel III is all About ?
According to Basel Committee on Banking
Supervision "Basel III is a comprehensive set of
reform measures, developed by the Basel
Committee
on
Banking
Supervision,
to
strengthen the regulation, supervision and risk
management of the banking sector".
What are the objectives / aims of the Basel
III measures ?
Basel 3 measures aim to:
improve the 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?

Pillar 1: Minimum Regulatory Capital

Requirements based on Risk Weighted Assets
(RWAs) : Maintaining capital calculated through
credit, market and operational risk areas.(MAINLY
THAT CAPITAL WHICH CAN ABSORB RISK.)
Pillar 2 : Supervisory Review Process :
Regulating tools and frameworks for dealing with
peripheral(OUTER) risks that banks face.
Pillar 3: Market Discipline : Increasing the
disclosures that banks must provide to increase
the transparency of banks
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
absorb losses during periods of financial and
economic stress.
(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 capital.
(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, respectively.

TAGLINES OF DIFFERENT BANKS

1.
2.
3.
4.
5.
6.
7.
8.
9.

Allahabad Bank A tradition of trust

Andhra bank For all your needs
Bank of Baroda Indias international bank
Bank of India Relationships beyond banking
Bank of Maharashtra One family one bank
Canara Bank Together We Can
Central bank Central to you since 1911
Dena Bank Trusted Family Bank
Indian Bank Taking banking technology to
the common man
10. Oriental bank of Commerce Where every
individual is committed
11. Punjab National Bank The name you can
bank on
12. State bank of India With you all the way
13. Syndicate bank Your faithful & friendly
financial partner
14. Vijaya Bank A friend you can bank on

RUPAY CARD
a) RuPay is the Indian domestic card payment
network
set
up
by
National
Payments
Corporation of India (NPCI) at the behest of
banks in India. The RuPay project had been
conceived by Indian Banks Association (IBA) and
had the approval of Reserve Bank of India (RBI).
b) National Payments Corporation of India (NPCI)
has a plan to provide a full range of card
payment services including the RuPay ATM,
RuPay Micro-ATM, Debit, Prepaid and Credit
Cards which will be accepted in India and
abroad, across various channels like POS,
Internet, IVR and mobile etc.
c) All Public Sector Undertakings (PSU) banks set
to join RuPay system by the end of year 2012.
d) The government of India had launched 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.
Headquarters of NATIONALIZED BANKS

Allahabad Bank Kolkata

Bank of India Mumbai
Bank of Maharashtra Pune
Canara Bank Bangalore
Central Bank of India Mumbai
Corporation Bank Mangalore
Dena Bank Mumbai
Indian Bank Chennai
Indian Overseas Bank Chennai
Oriental Bank of Commerce New Delhi
Punjab National Bank New Delhi
Punjab & Sind Bank New Delhi
State Bank of India Mumbai
Syndicate Bank Manipal
UCO Bank Kolkata
Union Bank of India Mumbai
United Bank of India Kolkata
Vijaya Bank Bangalore
Andhra Bank Hyderabad
Bank of Baroda Vadodra

BANKING ABBREVIATIONS

1. PSBs: PUBLIC SECTOR BANKS

2. SNBCs:
SCHEDULE
NON
COMMERCIAL
BANKS
3. SENSEX: SENSITIVE INDEX OF STOCK
EXCHANGE
4. GNP: GROSS NATIONAL PRODUCT
5. KYC: KNOW YOUR CUSTOMER
6. RTGS: REAL TIME GROSS SETTLEMENT
7. NEFT:
NATIONAL
ELECTRONIC
MONEY
TRANSFER
8. EFT: ELECTRONIC FUND TRANSFER
9. CBS: CORE BANKING SOLUTIONS
10.
LIBOR: LONDON INTERBANK OFFERED
RATE
11.
MIBOR: MUMBAI INTERBANK OFFERED
RATE
12.
MIBID: MUMBAI INTERBANK BID RATE
13.
SARFAESI:
SECURITISATION
AND
RECONSTRUCTION OF FINANCIAL ASSETS
AND ENFORCEMENT OF SECURITY INTEREST
14.
CAMELS: CAPITAL ADEQUECY RATIO,
ASSET
QUALITY,
MANAGEMENT
OF
EFFECTIVENESS, EARNING OF PROFITABILITY,
LIQUIDITY, SYSTEM AND CONTROLS
15.
CAR: CAPITAL ADEQUECY RATIO
16.
FIIs:
FOREIGN
INSTITUTIONAL
INVESTMENTS
17.
FDI: FOREIGN DIRECT INVESTMENT
18.
IPO: INITIAL PUBLIC OFFERING
19.
MICR:
MAGNETIC
INK
CHARACTER
READER
20.
BIRD: BANKERS INSTITUTE OF RURAL
DEVELOPMENT
21.
IBA: INDIAN BANK ASSOCIATION
22.
BPLR: BENCHMARK PRIME LENDING RATE
23.
ICICI:
INDUSTRIAL
CREDIT
AND
INVESTMENT CORPORATION OF INDIA
24.
HDFC: HOUSING DEVELOPMENT FINANCE
CORPORATION
25.
IRDA: INSURANCE REGULATORY AND
DEVELOPMENT AUTHORITY
26. SWOT:
STRENGETH,
WEEKNESSES,
OPPORTUNITIES AND THREATS
27.
SWIFT:
SOCIETY
FOR
WORLDWIDE
INTERBANK FINANCIAL TELECOMMUNICATION
28.
FERA: FOREIGN EXCHANGE REGULATORY
ACT
29.
FEMA:
FOREIGN
EXCHANGE
MANAGEMENT ACT
30.
CASA: CURRENT AND SAVING ACCOUNT
31.
NDTL: NET DEMAND & TIME LIABILITIES
32.
NASDAQ: NATIONAL ASSOCIATION FOR

SECURITIES
DEALERS
AUTOMATED
QUOTATIONS
33.
CIBIL: CREDIT INFORMATION BUREAU OF
INDIA LIMITED
34.
NAV: NET ASSET VALUE
35.
ICRA: INDIAN CREDIT RATING AGENCY

36.
CARE: CREDIT
ANALYSIS
AND
RESEARCH LIMITED
37.
WMAs: WAYS
AND
MEANS
ADVANCES
38.
ALM:
ASSET
LIABILITY
MANAGEMENT
39.
INFINET
INDIAN FINANCIAL
NETWORK
CURRENT AFFAIRS
CAPSULE
FINANCIAL &
BANKING NEWS

1.

2.

3.

4.

RBI approves the

merger of Kotak
Mahindra-ING
Vysya.
Bharti
AXA
General Insurance
launched
Smart
Traveller.
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.
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.

5.

6.

IFCI Ltd has now

become a stateowned 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.
7. IndusInd
Bank
entered into an
agreement
to
acquire
Royal
Bank of Scotland's
Diamond
&
Jewellery
Financing
business in India
and
related
deposit portfolio.
8. ICICI
Bank
in
collaboration with
Tech
Mahindra
launched
a
payment service
Tap-n-Pay based
on the near-field
communications
(NFC) technology,
enabling
customers make
over-the-counter
payments without
using cash.
9. 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.
10. 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.
11. Bank of India has
partnered
with
insurance
companies
New
India
Assurance
Co and Star Union

12.

13.

14.

15.

16.

17.

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 disability.
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.
18. Country's second
largest
private
sector
lender
HDFC
Bank
launched '30-min
auto' and '15-min

2-wheeler'
loan
schemes,
for
which customers
have to provide
only
their
biometric details.
19. Private
insurer
Bajaj Allianz has
launched
a
weather-based
crop
insurance
scheme
for
orange

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Page 19

20.
21.

22.

23.

24.

25.

26.

27.
28.

29.

30.
31.
32.

33.
34.

crops in Nagpur, Hingoli and Washim

districts of Maharashtra.
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 Futures.
To help investors and companies in IPOs,
SEBI halved the listing time to six days from
the date of the public offer and also allowed
a larger number of firms to tap the fast
track route for raising funds.
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
Wheels.
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 caps.
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

35.
36.

37.
38.

39.

40.

41.

42.
43.

44.

45.

even after a period of financial restructuring,

typically due to management inefficiency or
other factors.
ICICI Bank Appoints MK Sharma As NonExecutive Chairman.
The Reserve Bank of India (RBI) said that
Indian corporates, eligible to raise external
commercial
borrowings
(ECBs),
are
permitted to issue rupee-linked bonds
overseas.
Reserve Bank of Indian has allowed nonresident 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 Company.
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
customers.
An extremely simplified income tax return
form will soon replace the controversial 14page ITR that sought information like all
bank accounts and foreign trip details.As it
stands, the new ITR forms, including the ITR1 and ITR-2, require an assessee to furnish
the number of bank accounts held by the
individual.
MoneyGram Ready to Handle ElectronicMode 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 list.

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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 authentication.
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 Hoshangabad.
53. ICICI Launches Voice Password Facility for
Phone Banking.
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 presence.
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.

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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 low-risk foreign
investors.
60. IDBI Bank has decided to roll out e-huts to
connect with the rural populace.
INDIA GDP FORECAST
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 2016-17.
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 (WESP)
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 cent.
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 201415 at - 5.6 % & 6.4 % in 2015

India ranking in different Indexes:

1. India ranks 119 on 2015 FM Global Resilience
Index.
2. India ranked 143rd in Global Peace Index.
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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 report.
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 topped)
7. World Bank - Ease of Doing Business" report India ranked 142 among the 189 countries
(Singapore top)
8. World Economic Forum's 2015 Gender gap
index 114 (Iceland top the list followed by
Finland & Norway)
9. Global Hunger Index Report 2014: 55
(Mauritius top followed by Thailand and
Albania)
10. Human Development Index 2014 135
(Norway top followed by Australia).
11. Intellectual property (IP) environment 2015
29 (US ranked on the top, Thiland last)
12. World Press Freedom Index 2015 - 136 in the
list of 180 countries
13. World's best countries for doing business
2014 134
14. Global Peace Index 2014 143 (Iceland top
the list while Syria the most violent place)
15. Global Innovation Index 2014 - 76
16. Global Competitiveness Index 2014 -71
(Switzerland
is
the
most
competitive
economy, followed by Singapore).
Important Committees in News:
1. Bibek Debroy Committee on restructuring of
Indian Railways.
2. The government has set up a high level
panel, headed by former Home Secretary
Anil Baijal to suggest a framework to assess
CSR activities done by corporates under the
companies law.
3. Union Finance Ministry constituted High
Level
Committee to interact with trade and
industry to give recommendations to the
Central Board of Direct Taxes (CBDT) and the
Central Board of Excise and Customs (CBEC)
for issuance of appropriate clarifications by
way of circulars, on tax-related issues on a
regular basis. The high

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level committee will be headed by former

Chief Economic Advisor (CEA) Ashok Lahiri.
4. TSR Subramaniam Committee: to review the
processes, laws and Acts of the Ministry of
Environment, Forests and Climate Change
5. Pratyush Sinha committee: to assess
compensation for coal blocks.
6. The former Union Minister Jairam Ramesh
designated as the head of Future Earth
Engagement Committee, a global research
platform panel on sustainable development.
7. T.K. Vishwanathan committee: to provide
Bankruptcy code for small and medium
enterprises (SMEs).
8. Justice Prabha Sridevan committee: to
function as a think-tank to help draft a new
National Intellectual Property Rights Policy
(National IPR Policy)
9. K.V. Kamath panel: to examine the financial
architecture for Micro, Small and Medium
Enterprises (MSME) sector.
10. Gopalakrishna Committee: on Capacity
Building in Banks and non-Banks
11. G N Bajpai Committee: to review the
investment guidelines for national pension
system (NPS) schemes in private sector.
12. Scientist Raghunath Anant Mashelkar panel:
to recommend best technologies for Prime
Minister Narendra Modi's "Swachh Bharat"
national sanitation campaign.
13. T S R Subramanian Committee: to review
five key green laws concerning protection
and conservation of environment, forest,
wildlife, water and air among others.
14. H R Khan Committee: to examine the unclaimed amount in PPF, Post Office and
Savings Schemes.
15. H Devaraj Committee:
reported
that most of
the deemed universities are
bein
not
fit for g
a
university.
16. Sivaramakrishnan Committee: to suggest
the place to build the capital city of Andhra
Prades
17. 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.
18. Justice
CS
Dharmadhikari
Committee:
recommended complete ban on dance bars
in hotels and restaurants.

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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 free-trade zone.
12.
Seychelles becomes 161st member of
World Trade Organisation.
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 Festival.
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.

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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 PunjabKhedo 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 Express.
12.
The Andhra Pradesh government has
launched `Mee Bhoomi', a digital depository
of
land
records.The
portal,
http://meebhoomi.ap.gov.in/, makes all land
details along with Adangal/Pahani and 1-B
details, available to the people.
13.
Tamil Nadu chief minister J Jayalalithaa
announced a financial aid of Rs 41 crore for
farmers in the Cauvery delta region to
improve the kuruvai cultivation (short-term
cultivation).
14.
Essel, Rajasthan government ink Rs 4k
crore pact for solar parks.
15.
Mahindra World City Jaipur (MWCJ), spread
across 3,000 acres on the Delhi-Mumbai
corridor, has become the first project in Asia
and sixth in the world to commit to a
carbon-positive road map as part of the C40
Cities Climate Leadership Group.
16.
Chief Minister N. Chandrababu Naidu and
his wife Bhuvaneswari performed bhoomi
pooja for the new 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.

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officer in IFS.

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

24.
K.V. Chowdary appointed as new Central
Vigilance Commissioner.
25.
Vijai
Sharma
appointed
as
Chief
Information Commissioner.
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
Commissioner.
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 government.
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14.
Senior IPS officer Archana Ramasundaram
has been moved out of the CBI and appointed
as Director, National Crime Records Bureau
(NCRB).
15.
LIC Nomura Mutual Fund CEO Nilesh Sathe
appointed member, life at IRDAI.
16.
New chairman of Engineers India Ltd Sanjay Gupta . He replaced A K Purwaha.
17.
K.Sivan becomes the new VSSC chief
replacing M.S. Dathan.
18.
General Lalit Bhanot was elected vicePresident 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, Af-Pak and South
East Asia.
22.
Infosys Limited appoints R. Seshasayee as
Non-Executive Chairman of the Board.
23.
S Christopher appointed as Secretary,
Department of Defence Research and
Development-cum-Director General, Defence
Research and Development Organisation
(DRDO).

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35.
Alok Kumar and Jitendra Kumar have been
appointed as advisers in Niti Aayog for five
years.
36.
Eminent scientist Dr. Selvin Christopher
has been appointed as the Director General
(DG) of Defence Research and Development
Organisation (DRDO) along with the rank of a
secretary.
37.
23-year-old US-educated Yaduveer crowned
Maharaja of Mysuru.
38.
In a first in India, Manabi Bandopadhyay
has been appointed the first transgender
principal at a college in West Bengal.
39.
Manoj Mishra appointed as CMD of
National Fertilizers Ltd (NFL).
40.
AIADMK supremo Jayalalithaa sworn in for
the fifth time as Tamil Nadu chief minister.
41.
New Governors Appointed:
Jharkhand: Former Odisha Minister Droupadi
Murmu was appointed as Governor of Jharkhand.
Manipur: Dr Syed Ahmed has been transfered
to Manipur for remaining period of his term.
Arunachal Pradesh: J P Rajkhowa was
appointed as Governor of Arunachal Pradesh.

FDI Limits in different sectors:

Defence
Pension
Insurance
Print Media
Civil Aviation
Public Sec. Banks
Private Sec.
Banks
Multi Brand
Single Brand
Tourism

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49
49
26
49
20
74
51
100
100

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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
Tripura.
Meghalaya: V Shanmuganathan
New Appointment in World
1. Muhammadu Buhari claims victory in
Nigeria's presidential elections.
2. Pedro Cateriano Bellido appointed as Prime
Minister of Peru.
3. The East China Normal University (ECNU),
one of the prestigious universities in China,
announced the appointment of Dr. Vishal
Sikka, Chief Executive Officer of Infosys, as
Advisory Professor.
4. Indian-American Vivek Murthy was sworn-in
as the US Surgeon General. He succeeded
Boris D. Lushniak.
5. Chennai-born Raja Rajeswari has been swornin as a criminal court judge in New York by
Mayor Bill de Blasio.
6. Nikesh Arora appointed SoftBank President.
7. Afghan President Ashraf Ghani nominated a
female judge to the Supreme Court in an
unprecedented move that has angered some
Islamic conservatives.
8. Finance Minister Nhlanhla Nene announced
that former Reserve Bank governor Tito
Mboweni has been appointed as the nonexecutive director to the board the Brics New
Development Bank (NDB).
9. UN elected Denmark's Mogens Lykketoft to
head General Assembly.
10.
Prince Harry was made a Knight
Commander of the Royal Victorian Order.
11.
Deutsche Bank appointed John Cryan as
its new CEO.
12.
Indian-origin Tory MP Priti Patel has been
appointed minister of state for employment
in British Prime Minister David Cameron's
new cabinet.
SUMMIT
1. Hyderabad will play host to a four-day global
pharma expo and summit from July 23.
2. 6th National Conference on Nuclear Energy
held in New Delhi.
3. Minister of Health & Family Welfare, Jagat
Prakash Nadda, will preside over the 68th
Session of the World Health Assembly (WHA)
at Geneva as India assumes the Presidency of
the WHA, the high 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 (Australia)
13.
15th G - 20 Summit 2015 Turkey
14.
16th G - 20 Summit 2016 China
th
15.
4 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 Nepal
19.
19th East Asia Summit held in Nay Pyi
Taw, Myanmar
20.
45th International Film Festival of India
begins in Goa.
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, Gujarat.
IMPORTANT FINANCIAL SCHEMES
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 holders
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.

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Premium: Rs. 330 (per annum).

Payment Mode: The premium will be directly
auto-debited 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 Nominee.
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 forfeited.
2) Pradhan Mantri Suraksha Bima Yojana
Highlights of the Pradhan Mantri Suraksha Bima
Yojana (PMSBY Scheme 1 for Accidental Death
Insurance) are:
Eligibility: The savings bank account holders of
the participating Bank between 18 years
(completed) and 70 years (age nearer birthday)
who give their consent to join / enable autodebit, as per the modality, will be enrolled into
the scheme. Policy period: The cover shall be
for one year period starting from 1st June 2015
to 31st May 2016 for which option to join / pay
by auto-debit from the designated savings bank
account on the prescribed forms will be required
to be given by 31st May 2015 - extendable up to
31st August, 2015. Premium: Rs. 12/- + service
tax (per annum). Payment Mode: The premium
will be directly auto-debited by the bank from
the subscribers account. This is the only mode
available. Risk Coverage: Total coverage (suminsured) under the scheme is Rs. 2 Lakh.
3) BRIEF OF ATAL PENSION YOJANA
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 sector.
The scheme is administered by the Pension
Fund Regulatory and Development Authority
(PFRDA) through NPS architecture.

HIGHLIGHTS OF ATAL PENSION YOJANA

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 cocontribution 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.

FINANCIAL SCHEMES
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.

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 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 scheme
v. Rs 5,000 overdraft facility for Aadharlinked 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.

5.

6.
7.

8.

9.

10.

11.
Scheme & Plan Launched by Union & State
Government:
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 energyfocussed 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 Tourist Visa on Arrival-Electronic
Travel Authorization scheme (TVoA-ETA) to eTourist Visa
4. Railways today launched E-Samiksha, an
online monitoring mechanism, with an aim
of monitoring

12.

13.
14.

15.

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 Space.
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 AYUSH.
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 agritraining programme in 593 villages under
the Sansad Adarsh Gram Yojana, one of the
flagship schemes of Prime Minister Narendra
Modi.

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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 Minister
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(201415),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 years.
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
livelihood.
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:
Government approved Rs 43,033-crore rural
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
households.
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 Bharat Mission (Ek Kadam
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

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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
contest
3. The Tagline Ek Kadam Swachhata Ki Aur was
given by Ms.Bhagyasri Sheth of Rajkot, Gujarat
emerged successful in the contest for Tagline for
the Logo.
4. PM Narendra Modi appointed bollywood actor
Aamri Khan as the Brand Ambassador of the
Swachh Bharat Mission
5. Prime Minister roped 9 celebrities including
cricket icon Sachin Tendulkar, Congress leader
Shashi Tharoor, industrialist Anil Ambani, Salman
Khan, Priyanka Chopra and Kamal Haasan, Goa
governor Mridula Sinha, yoga guru Ramdev and
the team of TV serial "Tarak Mehta Ka Ulta
Chashma".

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 areas.
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

Union Ministry of Science & Technology 1. Indian-origin nurse Subadhra Devi Rai
named for
2015 International Achievement Award.
announces KIRAN (Knowledge, Involvement,
Research, Advancement through Nurturing)
2. Amitabh Bachchan honoured by Egypt's
scheme for Women Scientists
Academy of Arts.
24.
3. Delhi International Airport Limited (DIAL) has
Objectives
bagged the prestigious Golden Peacock
:National Quality Award for the year 2015.
i. To increase the number of women researchers
4. An Indian origin school boy Pratap Singh, 15,
in India.
in the UK has been chosen for a prestigious
ii. Provide Research grants particularly to those
prize for the Institute of Physics (IOP) Prize,
female researchers and technologists who had to
that carries 500 pounds sterling and a trip to
take a break in career owing to household
a national physics-related activity.
reasons.
5. Uttar Pradesh Government conferred Sahitya
iii. Bring about, as far as achievable, gender
Shiromani Samman on noted Hindi poet
parity in the field of science and technology.
Gopaldas Neeraj and veteran Hindi litterateur
25. National Pension System -: Government
Uday Pratap Singh.
of India established Pension Fund Regulatory
6. Seoul city, the capital and largest metropolis
and Development Authority (PFRDA)- External
of South Korea was awarded the title of
website that opens in a new window on 10th
Global Earth hour Capital 2015 after it won
October, 2003 to develop and regulate
the Earth Hour City Challenge (EHCC) of
pension sector in the country. The National
World Wildlife Fund (WWF).
Pension System (NPS) was launched on
7. US President Barack Obama honoured
1st January, 2004 with the objective of
Microsoft's Indian-origin CEO Satya Nadella
providing retirement income to all the
with the 'Champions of Change' award for
citizens.
bringing about change within his company to
support working families.
26. Aajeevika - National Rural Livelihoods
Mission (NRLM) was launched by the Ministry
8. NRI industrialists Hinduja brothers S P
of Rural Development (MoRD), Government of
Hinduja and G P Hinduja have won the
India in June 2011. The basic idea behind this
Business Leader of the Year 2015 award at
programme is to organize the poor into SHG
the prestigious 5th Asian
(Self Help Groups)
23.

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Awards for their outstanding achievement in

the field of business.
9. Bollywood actor Shah Rukh Khan was
honoured with the Dadasaheb Phalke Film
Foundation Award 2015 for his performance
in the movie Happy New Year. Actor
Rajkummar Rao won the prestigious award
for his performance in the critically acclaimed
film Citylights.
10. PM Modi awarded the 50th Jnanpith Award to
eminent Marathi litterateur Bhalchandra
Nemade whose several books, including
Kosala and Hindu, have influenced Indian
writing.
11. Bollywood actor Anil Kapoor conferred with
prestigious Master Deenanath Mangeshkar
Award 2015.
12. Indian Space Research Organisation (ISRO)
has been selected for the Gandhi Peace Prize
for 2014 for its contribution to the countrys
development through space technology and
satellite-based services.
13. President
Pranab
Mukharjee
conferred
Punyabhushan Award on Prataprao Pawar,
Chairman of Sakal Media Group (SMG) at
Balgandharva Auditorium in Pune.
14. Vocalist Sanjay Subrahmanyam selected for
Sangita 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 2015 Whitley Awards for
wildlife conservation.
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
posthumously for United Nations Dag
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 achievement.
Awards
Best Actor
Best
Actress
Best
Director
Best Movie

IIFA 2015
Winner
Shahid Kapoor for
Haider
Kangna Ranaut for
Queen
Rajkumar Hirani for PK
Quee
n
nd

62
National
Film
Award
s
Sancha
Best Actor
ri
Vijay for Nanu
Avanalla Avalu
Best
Kangna Ranaut for
Actress
Queen
Best Director
Srijit Mukherji
Best Feature Fim Queen
Best Feature Film Court
in Hindi
Awards

Dada
Saheb Shashi Kapoor
Phalke Award

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

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Page 33

2. Amitabh Bachchan- Art- Maharashtra

3. Prakash Singh Badal- Public Affairs- Punjab
4. Prof
Malur
Ramaswamy
SrinivasanScience and Engineering- Tamil Nadu
5. Kottayan K. Venugopal- Public AffairsDelhi
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 Kashmir.
5. Migrant Resource Centre (MRC) was set up in
Chennai by the Union Ministry of Overseas
Indian Affairs (MOIA) and Tamil Nadu state
government.
6. Rajasthan topped the list of states
commissioning
grid connected solar power projects in the
country with an installed capacity of 1147
megawatt.
7. Maharashtra has officially declared Blue
Mormon species as State butterfly as part of
state symbols.
8. Election Commission of India (ECI) has
suspended recognition of the PA Sangma-led
National Peoples Party (NPP) which was a
recognized state party in Meghalaya.
9. Jaipur Metro, touted as one of the fastest built
metro systems in the country, was thrown
open to public.
10.
The sprawl of the National Capital Region
(NCR) just got bigger as the nod has been
given for the inclusion of Muzaffarnagar
district of Uttar Pradesh and the Jind and
Karnal districts of Haryana.
11.
Nitin Gadkari inaugurated the 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

Bangladesh.
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
Year.
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

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magazines 12th annual list of Worlds 100

most powerful women. These are: Arundhati
Bhattacharya,
Chanda
Kochhar,
Kiran
Mazumdar Shaw & Shobhana Bhartia.
7. Tanishq Abraham
11-year
old
IndianAmerican creates record by graduating from
California College.
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.
Agreements
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

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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 ZTE-soft have entered into an agreement
for smart city projects in the state.
14.
The India Meteorological Department
(IMD) under the Union Ministry of Earth
Sciences
on
18
May
2015
signed
Memorandum of Understanding (MoU) with
Power System Operation Corporation Ltd
(POSOCO) for optimum use of weather
information/forecast in the power sector.
Resign/Retired
1. Vijay Kelkar resigns from Tata Chemicals'
Board.
2. United Nation (UN) peace envoy to Yemen,
Jamal Benomar has resigned, after losing
support from Gulf countries for his mission in
the conflict-riven nation.
3. Union Ministry of Statistics and Programme
Implementation (MOSPI) has sacked Dr Bimal
K Roy as the Director of Indian Statistical
Institute (ISI).

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

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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 Then One Day: Naseeruddin Shah's
autobiography
21. God of Antarctica written by Yashwardhan
Shukla:

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22.
One Life is Not Enough : written by
Kunwar NatwarSingh
23.A book Munger through the Ages authored
by late
Devendra Prasad Yadav
24. The Lives of Others a novel written
by:
Neel Mukherjee
25.
The Substance and the Shadow: written
by Uday Tara Nayar, a former journalist.
26.
Blood Feud written by Edward Klein
27.
A Bad Character: authored by Deepti
Kapoor.
28. The Good, the Bad and the
Ridiculous Khuswant Singh
29.
Train To Pakistan - Khuswant Singh
30.
An Uncertain Glory: India and its
Contradictions - Jean Dreze and Amartya Sen.

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 India

7. US president Barack Obama visited India in

the late January.
8. Mark Zuckerberg: Facebook founder visited
India
9. Amazon founder Jeff Bezos visited India.
10.
Frank Walter: Foreign Minister of Germany
visited India
OBITUARY
1. Malli Mastan Babu, India's ace mountaineer
passes away
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 away.
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

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away.
9. Sheila Kaul, former Governor of Himachal
Pradesh, died.
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 crash.
RECENT VISITS OF PRIME MINISTER
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 region.
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)

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5. Germany: 12 14 April
2. Mongolia: 16 17 May
Highlights:
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

Highlights:
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 development.
* Germany chancellor--- angela merkel
6. France: 9 12 April

3. South Korea: 18 19 May

Highlights:
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
Highlights:
* 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 billion.
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

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Highlights:
* 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
Highlights:
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 IndiaSingapore diplomatic relation.
8. Sri Lanka - 13 14 March
Highlights:
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

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Page 37

Madhu Road and Talaimannar Pier is the last

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

3.

9.Mauritius - 11 13 March

6.

* Highlights:
AGGREMENTS: Total 5
A. India Offers $500 Million Credit to Mauritius
During PM Modi's Visit, 5 Pacts Signed
# Indian line of credit of $ 200 million initially
meant for the light railway transit system to
projects in the water and energy sector.
B. Modi was the Chief guest at the Mauritian
National Day on 12 March
* Key persons--PM of mauritius--aniruthJugnauth

4.
5.

7.

8.

9.

10.

11.
12.
10. Seychelles - 10 - 11 March
Highlights:
A. AGREEMENTS: Total 4
* Hydrography
* Renewable energy
* Infrastructure
* Development and sale of navigation charts
and electronic navigational charts
* Key person---President James Alix Michel
Sports News
1. China's Olympic gold medal-winning hurdler
Liu Xiang, one of the country's biggest
sports stars, has retired.
2. New Zealand cricketer Mills follows Vettori
into retirement.

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13.
14.

15.
16.
17.
18.
19.

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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 highprofile 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 theatre.
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 podium
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 term.
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
tournament.
Inderjeet Singh, Jinson Johnson won gold at
Asian Athletics Grand Prix.

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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 year.
24. BCCI has announced Rahul Dravid as the
coach of India A team and Indian U 19
cricket team.
25. Stan Wawrinka stuns Novak Djokovic and
Serena Williams wins French Open after
beating Lucie Safarova in final.
26. Tintu Luka strikes gold as India finishes 3rd
at Asian Athletics Championships.
27. Anantjeet Singh Naruka beat Lari Pesonen of
Finland 12-11 in the skeet match for gold in
the 7th International junior shotgun cup that
concluded in Orimattila, Finland.
28. Forbes list: Dhoni has been ranked 23rd on
the Forbes list of The World's Highest-Paid
Athletes 2015.
29. Serbia edge Brazil in final to clinch Fifa U-20
World Cup title.
30. Tennis player Rafael Nadal received Golden
Medal for Merit in Work of Spain.
31. Indian Railway girls clinch 5th National
Hockey Championship title.
32. Geeta Phogat won a bronze medal in the
Women's Freestyle 58kg category in the
Senior Asian Wrestling championship in
Doha.
33. Sakshi Malik and Lalita bagged bronze
medal in Women's Freestyle 60kg and 55kg
categories, respectively, in the Senior Asian
Wrestling Championship in Doha.
34. Nico Rosberg has finally got the better of
Mercedes teammate Lewis Hamilton this
season, winning the Spanish Grand Prix.
35. Andy Murray beats Rafael Nadal to win
Madrid Masters final.
36. Tejaswini Sagar wins gold at Under-15 World
School Chess Championship.
37. Gagan Narang won the bronze medal in the
50m Rifle Prone Event of the ISSF World Cup
at Fort Benning in USA, earning himself a
quota place for the 2016 Rio Olympics.
38. Brad Haddin: Australia wicketkeeper quits
one-day game.
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.
TOURNAMENTS IN BRIEF
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
Title.
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
Mladenovic
Men's Doubles - P. Cuevas and D. Marrero
French Open
Men's Single - Winner = Stan Wawrinka

(Switzerland), Runner Up = Novak Djokovic

(Serbia)

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Women's Single - Winner = Serena Williams

(USA), Runner Up = Lucie afov (Czech
Republic)
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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)

T20:
1. India -2016
2. Australia - 2020
Test:
1. England 2017 (for first time).
2. India - 2021.

BNP Paribas Open

i. Men's Singles - Novak Djokovic defeated
Roger Federer
ii.Women's Singles - Simona Halep defeated
Jelena Jankovic
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 Vesnina.

FIFA (Football) World Cup venue:

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

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

CRICKET WORLD CUP 2015

Australia defeated Newzealand in the finals of
the cricket world cup 2015 by 7 wickets.
The finals were played at the Melbourne
cricket ground.
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)
GAMES VENUES
ICC World Cup Cricket Venue: ODI: (One day
International):
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)
News Related To Defence,Science
and
Technology
1. Defence Minister Manohar Parrikar launched
the
country's
first
indigenously-built
Scorpene submarine at the Mazagaon
Dockyard Ltd in Mumbai.
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 nuclearcapable Dhanush ballistic missile with a
strike range of 350 km from a naval ship off
the Odisha coast.
6. India
successfully
test-fired
nuclear
weapons-capable 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 P15B 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

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Page 40

12.
13.

14.

15.

16.

17.

18.

19.
20.

21.
22.

23.

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 aircraft.
HAL completed integration of BrahMos
thermonuclear cruise missile with Sukhoi30MKI 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 coast.
India
successfully
test-fired
its
indigenously
developed,
intercontinental
surface-tosurface 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 Florida
Indian
Navy
had
conducted
Humanitarian
Assistance and Disaster relief
exercis
(HADR)
e
Aggatti
inLakshadweepIslands (Kavaratti,
,
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 city'
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,
applications.

telephone

and

internet

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

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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

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Page 41

5.

6.

7.

8.

9.

10.
11.
12.
13.

14.

15.

16.

Metallurgical & Engineering Consultants

launched its consumer complaint mobile
(India) Limited (MECON) partnered with
application

ASCIonline,
to
provide
Union Ministry of Steel to set up Steel
consumer complaint services on a mobile
Research & Technology Mission.
app besides providing the facility online.
Following popular outrage against net neutrality 17. Anil Ambani-led Reliance Power
signed an
violations to internet apartheid, eretailer
agreement to invest $ 3 billion in setting up
Flipkart pulled out of the controversial Airtel
a mega power plant and a floating LNG
Zero preferential access platform.
import terminal in Bangladesh which faces
acute power shortages.
Online restaurant guide Zomato announced
the acquisition of MaplePOS, a cloud-based
18. SpiceJet signs deal to sell tickets to
point of sale product for restaurants
waitlisted railway travellers.
developed by a group of techies from Delhi.
19. After fighting tooth and nail with online
retailers, the apex body of small traders,
Bharat Heavy Electricals Limited (BHEL), an
Confederation of All India Traders (CAIT), has
engineering and manufacturing company
decided to launch its own ecommerce portal
announced that it has inked a Memorandum
named 'e-Lala'.
of Understanding (MoU) with a Russian
company named INTMA with an aim to set
20. Microsoft begins rebranding of Nokia Priority
up a gas-based power project in Kazakhstan
Stores.India is the first country among
Microsoft's global markets to roll out the new
as well as further boost its presence in the
look for its retail outlets.
CIS countries.
Metals and mining conglomerate Sesa Sterlite has 21. Reliance Capital, part of Anil Ambani-led
Reliance
changed its name to Vedanta Ltd to better
Group appointed B Gopkumar as chief
executive of its broking and distribution
align with its international identity
business.
Vedanta Resources.
22. State-run BSNL launched free roaming, ,
Iconic business leader Ratan Tata has
which will allow all its mobile customers
acquired a stake in Chinese handset maker
across the country to receive incoming calls
Xiaomi, the first investment by any Indian in
at no cost.
the smartphone maker.
23.
The National Association of Software and
Online marketplace Flipkart has acquired
Services Companies (Nasscom) signed an
Delhi-based
mobile
engagement
and
MoU
with
India
Electronics
and
marketing automation company Appiterate.
Semiconductor
Association
(IESA)
to
speed
Sunil Mittal-led Bharti Airtel has become the
up 'Make in India' and 'Digital India' agenda
worlds third largest mobile operator with
for
electronic
system
design
and
303 million subscriber.
manufacturing (ESDM) and IT.
BRICS bank to be operational by end of
24. FDI in services sector up 46% in 2014-15.
2015: South Africa.
25. Future Group's Retail Business to Merge With
Japan headquartered telecommunications
Bharti Retail.
and Internet major SoftBank Corp, Bharti
26. Microsoft India unveiled Edu-Cloud, a cloud
Enterprises
Limited
and
Taiwan-based
computing-based offering, designed to offer
Foxconn Technology Group formed a Joint
digital learning and teaching in schools and
Venture (JV) named SBG Cleantech Limited.
higher educational institutions through
This JV is aimed at promoting the adoption of
virtual learning platforms in India.
clean and safe energy in India.
27.
India is home to 56 of the worlds 2000
State owned telecommunications giant
largest and most powerful public companies,
Bharat Sanchar Nigam Limited (BSNL) has
according to the
announced to set up 40,000 Wireless Fidelity
Forbess annual list which is topped by the
(Wi-Fi) hot spots across the country.
US with its share of 579 companies.
National Stock Exchange (NSE) on 22 June
28.
Reliance Industries has signed up for a $750
2015 operationalised the Overnight Liquid
million loan, backed by Korea Trade
Transaction facility on its web-based Mutual
Insurance Corp, to primarily finance the
Fund Service System (MFSS) platform.
procurements for its infrastructure rollout
In
a
bid
to
address
misleading
from
Samsung
Electronics
and
Ace
advertisements, the Advertising Standard
Technologies Corp.
Council of India (ASCI)
29. The government will sell its 10 per cent

stake in blue-chip Indian Oil Corporation

(IOC) and 5 per cent in power producer NTPC

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to mop up about Rs

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Page 42

Others
1. Railway Minister Suresh Prabhu introduced
the mobile app for paperless unreserved
30.
ticketing for commuters in Egmore and
Tambram suburban sections in Chennai
under Southern Railway zone.
2. Chhurim Sherpa, first woman to climb the
31.
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
32.
Yemen
4.
India launched a relief and rescue Operation
33.
named Maitri in earthquake hit Nepal.
5.
The BJP-led NDA government has dropped
34.
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
Days
Lekhan Puraskar, launched more than two
decades ago, have given way for Rajbhasha
Kirti Puraskar and Rajbhasha Gaurav
Puraskar.
1. World Heritage Day was observed across the world 6. Two Indian organizations, India Army and
Indian
on 18 April 2015.
Railways are among the worlds biggest
employers.
2. World Haemophilia Day was observed
globally on 17 April 2015 with theme
It was revealed in a research published by
Building a family of support.
the World Economic Forum (WEF). Both
organisations employ around 2.7 million
people together.
3. International Mother Earth Day was observed 7.
The government of India has released
stamp s and
globally on 22 April 2015 with the theme Its
coins of the denomination of Rs.10 and
our turn to lead.
Rs.100 on International Yoga Day (IYD) on
June 21.
4. National Panchayati Raj Day was observed
8. Op DOGA to secure Yoga Day event.
across India on 24 April 2015
9. Union Government has exempted builders
5. World Malaria Day (WMD) was observed on
from obtaining prior green nod for
25 April 2015. The theme for the 2013-2015
construction of Universities, School, College
campaign is Invest in the Future. Defeat
and Hostel facilities.
Malaria.
6. 14th June: World Blood Donor Day
10. BIS App launched by Union Food and
Consumer Affairs Minister Ram Vilas Paswan.
7. Kerala Government declares June 22 as Snake Bird
11. Government to Give Rs 6,000 Crore
Interest-Free
Day.
Loans to Sugar Mills.
8. India set for World Yoga Day on 21 June 2015. 12. Manu Prakash, who amazed the world last year
by
12. The United Nations (UN) observed the
9. World Press Freedom Day is annually
International Day for Biological Diversity
observed on May 3 to inform the
(IBD) on 22 May 2015. The theme was
international community that freedom of the
Biodiversity for Sustainable Development.
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.
13,600 crore in this fiscals first
disinvestment approval.
The Government has managed to restrict
the fiscal deficit to 4 per cent during 201415, which is even below the revised estimate
announced in the budget.
Taxi aggregator TaxiForSure announced a tieup 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 devices.

building a paper microscope, has now come

up with a computer that works by moving
water droplets.
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-

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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

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Page 43

16.
17.
18.

19.
20.
21.
22.
23.

24.
25.

26.

27.

28.

29.

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 reconstruction.
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 ecommerce 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 only.
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 billion.

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 National Rural Employment Guarantee
Act (MGNREGA) from 100 days to 150 days in
drought-affected 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.

Amendments by the Govt.

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

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8. The Lok Sabha passed the negotiable

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

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Page 44

UNION BUDGET
Key Highlights Quoting PAN a must for all purchases
above Rs
1,00,000
Corporate tax reduced from 30% to 25% over
next four years
Defence allocation for this fiscal is Rs 2,46,727
crore.
AIIMS to be set up in J&K, Punjab, Tamil
Nadu,
Himachal Pradesh and Assam.
Govt to raise visa-on-arrival facilities to 150
countries from 43
Govt to introduce Indian gold coin with Ashoka
sign on it.
Proposal of 5 ultra mega power projects for
4,000 MW each.
Investment in infrastructure to go up by Rs
70,000 crores.
GST to be put in place by April 1, 2016.
All contributions to Sukanya Samridhi scheme
to be tax free.
Transport allowance, which is currently Rs 800
per month, has been increased to Rs 1600 per
month.
Additional deduction of Rs 50,000 for pension
contributions.
Govt increases limit of deduction of health
insurance premium from Rs 15,000 to Rs 25,000.
100% deduction for contribution to Swachch
Bharat and Clean Ganga schemes.
Rs 150 core to create world class IT hub in
India.
Net gain from tax proposals seen at 150.68
billion rupees in 2015-16.
Direct tax proposals will lead to loss of Rs 8,315
crore; indirect proposal will yield Rs 23,383 crore.
Yoga included in the ambit of charitable
purposes under the Income Tax Act.
Questionnaire on Union Budget
1. In the Union Budget, rate of Service Tax was
hiked from 12% to ____ - 14%
2. In the Union Budget 2015-16, Fiscal deficit
seen at how much per cent of GDP in
2015/16? - 3.9 %
3. How much amount has been allocated to the
Rural Infrastructure Development Bank in the
Union Budget 2015-16? - Rs. 25,000 crore
4. According to the Union Budget, two new IIM
will be opened in which of the following
states? -Jammu
& Kashmir and Andhra Pradesh
5. According to the Union Budget 2015-16, 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

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8. According to the Union Budget, how much per

cent of Revenue Deficit to be seen in 201516? - 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
micro-irrigation 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
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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
Jaitley
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 lakh
22.
An additional _____% surcharge on people
earning over Rs. 1 cr was put forth in the
budget 2015-16?
- 2%
23.
What change was made in the Wealth
tax? Wealth tax abolished
24.
DTC was dropped in the Budget 2015-16.
Expand DTC? - Direct Taxes Code
25.
Corporate tax to be reduced from 30% to
___ over next four years? - 25%
26.
Mudra banks to be established with
capital of Rs.___ crore?- 20000
27.
Rs. ____ deduction for contribution to New
Pension Scheme?- Rs. 50,000
28.
GAAR implementation deferred by 2
years to? April 2017
29.
Service Tax rate hiked to ___% from
12.36%? 14%
30.
Tax free bonds were proposed in budget
for? Roads, railways, irrigation project
ECONOMIC SURVEY
Presented By - Union Finance Minister Arun
Jaitely 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 mediumterm fiscal deficit target of 3 percent of GDP. This
will provide the fiscal space to insure against

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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
consolidation will be conditioned by the
recommendations of the Fourteenth Finance
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.

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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.
RAILWAY BUDGET
1,00,011 Cr. Planning Budget in 2015-16.
Bullet train Corridor to be developed between
Mumbai to Ahmedabad.
Rs.2000 cr for Coastal Connectivity Program;
Rs.2500 cr through BOT/Annuity route. 1000 MW
Solar plant; 100DEMUs to dual fuel
Setting
up
Kayakalp
to
help
in
Technology
Upgradation.
Corporate safety Plans; ISRO to be involved;
3438 level Xings to be eliminated, Rly expense
increased by 2600%
MUTP-III project for Mumbai.
Malviya Chair at IIT BHU for Railway
technology excellence.
Train Protection Warning Systems and Anti
colliding system to be developed by RDSO.
Increase of speed of 9 Trains from 110 km/hr
and 130 km/hr to 160 km/hr.to 200 km/hr.
8.5 lakh crore rupees to be invested in the
railways in the next 5 years.
Operating ratio proposed at 88.5%. Best ever
in 9 years.
Increase track length by 20 per cent and
passenger carrying capacity from 21 to 30
million.
Free Wi-fi facility to B class stations under the
scheme of Digital India.
SMS alert on mobile, customer portal
promoting digital India campaign.
Bio toilets in trains; airplane type toilets in
trains.
CABINET MINISTERS
Narendra Modi Personnel, Public Grievances
and Pensions, Department of Atomic Energy,
Department of Space, All important policy
issues and all other portfolios not allocated to
any Minister
Rajnath Singh Home Affairs
Sushma Swaraj External Affairs, Overseas
Indian Affairs
Arun Jaitley Finance, Corporate (Additional
charge
Affairs Information and Broadcasting)
Manohar Parrikar Defence
M Venkaiah Naidu Urban Development,
Housing,
Urban
Poverty
Alleviation,
Parliamentary Affairs
Nitin Gadkari Road Transport and Highways,
Shipping
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
Enterprises
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
Enterprises
Harsimrat Kaur Badal Food Processing
Industries
Narendra Singh Tomar Mines, Steel, Labour
and Employment
Jual Oram Tribal Affairs
Radha Mohan Singh Agriculture
Thaawar Chand Gehlot Social Justice and
Empowerment
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 Sciences
STATIC GK CAPSULE
United Nations Headquarters
International
Organizations
UNO (United Nations Org)
UNICEF
UNCTAD (United Nations
Conference on Trade &
Development)
WHO (World Health Org)
ILO (International Labour Org)
WMO (World Meteorological
Org)
World Intellectual Property
Org
International Standards Org.
IMF (International Monetary
Fund)
World Bank
UNESCO (United Nations
Educational Scientific and
Cultural Org)
OECD (Org. for Economic
Cooperation and Dev.)

Headquarters
New York
New York
Geneva

Geneva
Geneva
Geneva
Geneva
Geneva
Washington DC
Washington DC
Paris

Paris

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Page 47

UNIDO (United Nations

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

Vienna
Vienna
Vienna

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

London
London
London
The Hague
Rome
Brussels
Berlin
Kathmandu
Jakarta

Kaziranga Wildlife Sanctuary - Assam

Manas Wildlife Sanctuary - Assam
Gir National Park & Wildlife SanctuaryGujarat
Sundarbans National Park - West Bengal
Periyar National Park and Wildlife Sanctuary
Kerala
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

Singapore
Jeddah

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
Nuclear power plants in India:

Narora atomic power plant - Narora, UP

Rajasthan atomic power plant: Rawatbhatta,
Rajasthan (India & Candada)
Tarapur atomic power plant Maharashtra
(India & US)
Kakarpar atomic power plant - Gujarat

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 companies.
2. NSE (National Stock Exchange) - Nifty-50-NSE
is the largest stock exchange in India. Nifty
consists of 50 companies
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 Index)
9. Hong Kong Stock Exchange- Hang Seng
10. . SGX(Singapore Exchange)- STI (Straits
Times
Index)
11.
LSE (London Stock exchange) or UK stock

exchange-Footsie or FTSE-100 (Financial Times

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12.
France Stock Exchange - CAC-40 (Cotation
Assistee en Continuo)
Credit Rating Agencies in India and World:
Indian credit rating industry mainly
comprises of CRISIL, ICRA, CARE, ONICRA,
FITCH (India Ratings & Research) & SMERA.

CRISIL - Credit Rating Information Services of India

Limited, Headquarter Mumbai
ICRA - Investment information and credit rating
agency Headquarter - Gurgaon, India
CARE - Credit Analysis and Research Headquarters

Mumbai

ONICRA - Headquarter - Gurgaon, India

SMERA - Headquarters Mumbai

Fitch (India Ratings & Research) - Headquarters

Mumbai

Note: CRISIL is the largest credit rating

agency in India, with a market share of
greater than 60%
Standard & Poor's (S&P) Headquarter New
York, US
Moody's Headquarter - New York, US
Fitch - Headquarter - New York, US

Index/Reports Issued by different

organizations in World:

World
Economic
Outlook
is
published
by:
International Monetary Fund (IMF).
Global Hunger Index is issued by: International Food
Policy Research Institute
Global Peace Index is issued by: Institute for
Economics and Peace
Global Corruption Index is issued by: Transparency
International
Global Competitiveness Index is issued by: World
Economic Forum
Human Development Report is issued by: United
Nations Development Programme (UNDP)
Gender Inequality Index is issued by: United Nations
Development Programme (UNDP)

Important Organizations:
1.
United
Nation
(UN)

is
an
intergovernmental organization established on
24 October 1945 to promote international cooperation.

Headquarter New York , Head Ban ki -moon

Member - South Sudan new member country .
Total 193 members

2. WTO (World Trade Org.) Yemen new

member country. Total 160 members.
Headquarter Geneva, Switzerland, Head Roberto Azevdo
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
188members
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
188members
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 criteria.
Member The eurozone currently comprise 19
EU states.
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)

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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 1989
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 countries.
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 Countries.
11. SAARC (South Asian Association of
Regional
Co-Operation):
is
an economic and geopolitical
organization
of
eight countries that are primarily
in
located
South
Asia or the Indian subcontinent.
Headquarter Kathmandu, Nepal 8
Member
Countries.
Secretary-General: Arjun Bahadur Thapa.
12. ICJ (International Court of Justice): is the
primary judicial branch of the United Nations. It
is based in the Peace Palace in The Hague,

Netherlands. Its main functions are to settle legal

disputes submitted to it by states and to provide
advisory opinions on legal

questions submitted to it by duly authorized

international branches, agencies, and the UN
General Assembly.
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

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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

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Page 50

REGULATORIES BODIES IN INDIA

Regulator Sectors
Chairman Headquarter
Reserve
Financial
Raghuram
Mumbai
Bank of system and
Rajan
India
monetary
policy,
Money
Market
Securities Security & U.K. Sinha
Mumbai
and
Capital
Exchange
Market,
Board of
stock
India
broking &
(SEBI)
Merchant
Banking,
Nidhis, Chit
Fund
Insurance Insurance
T. S.
Regulatory
industry
Vijayan
and
Developme
nt
Authority
(IRDA)
Telecom
Telecommu
Rahul
Regulatory
nication
Khullar
Authority of Industry
India
(TRAI)
Forward Commodity
Ramesh
Markets
Market
Abhishek
Commissio
n
Pension
Pension
Hemant
Fund
sector
Contractor
Regulatory
Developme
nt Authority
(PFRDA)

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Hyderabad

New Delhi

Mumbai

New Delhi

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COUNTRIES AND CURRENCIES

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IMPORTANT DAYS(TRICKS)
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
diwas)
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,2525 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".
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 diwas)
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
Note-(because of all days are WORLD
days) Subject- march ki 8 world
famous Ghatnaye
Trick with story-

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 short
(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
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 diya.
6) June:
1) 5 june- World environment day ( everyone
knows)
2) 21 june- World Yoga day ( latest hai sb jante
hai)
7) july
1) 1 july - National Doctor's day
2) 11july - world population day
No. Of days- 2

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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 gaya".
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 diya.
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 sikhaye".
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 gaya.
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" :))
TWO SAME DAYS FUNDA:
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 liya.

ALL THE BEST!!!

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