REVOLUTION IN INDIA

REVOLUTION IN INDIA:

* Black Revolution - Petroleum Production

* Blue Revolution - Fish Production

* Brown Revolution - Leather/non-conventional(India)/Cocoa production

* Golden Fibre Revolution - Jute Production

* Golden Revolution - Fruits/Overall Horticulture development/Honey Production

* Green Revolution - Food grains

* Grey Revolution - Fertilizer

* Pink Revolution - Onion production/Pharmaceutical (India)/Prawn production

* Red Revolution - Meat & Tomato Production

* Round Revolution - Potato

* Silver Fiber Revolution - Cotton

* Silver Revolution - Egg/Poultry Production

* White Revolution (In India: Operation Flood) - Milk/Dairy production

* Yellow Revolution - Oil Seeds production

* Evergreen Revolution - Overall development of Agriculture

08:02 - By Unknown 0

Daily GK update 28th November 2014

1.    RBI issues final norms for payment, small banks; Floor capital set at Rs 100 crore

i. The Reserve Bank of India has issued final norms for payment banks and small finance banks that would allow mobile firms and supermarket chains, among others, to enter the banking arena

to cater to individuals and small businesses. The move aims at deepening financial inclusion and boost saving habits. 
ii. The RBI aims to push financial inclusion by setting up these niche outfits — small finance banks that can have all-India operations and payments banks, which can accept more deposits.
iii. The guidelines open up an window of opportunity for entities which did not bag new bank licences in April.
iv. Shriram Capital, Janalakshmi Financial Services, Magma Fincorp and Muthoot Finance, among others, are expected to throw their hats into the ring to set up small banks.
v. The Department of Posts, Bharti Airtel, Vodafone India, Tata Teleservices, Western Union and online digital payment players such as Paytm, Oxigen and MobiKwik have expressed interest in floating payment banks.
vi. Companies will have to apply by January 16, 2015, for licences in both categories, and the central bank said it would consider more applications at a later stage. 

Note: The minimum paid-up equity capital for both small and payment banks has been pegged at Rs 100 crore.

Who are eligible?
i. Eligible promoters for a small bank include resident individuals/professionals with experience in banking and finance; and companies and societies.
ii. Existing non-banking finance companies (NBFCs), microfinance institutions and local area banks can also opt to convert into a small bank.
iii. The RBI said proposals from large public sector entities and industrial and business houses, including NBFCs promoted by them, will not be entertained to set up small banks.
iv. A promoter/promoter group can have a joint venture with an existing scheduled commercial bank to set up a payment bank, subject to the stake holding complying with the Banking Regulation Act.

Key activities
i. The small bank will primarily undertake basic banking activities of acceptance of deposits and lending to un-served and under-served sections, including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
ii. Small banks will be required to maintain a minimum capital adequacy ratio of 15 per cent of the loans on a continuous basis.
iii. In the draft guidelines, the RBI had suggested that small banks would have a restricted area of operations (possibly contiguous districts in a homogenous States). However, in the final guidelines, these restrictions have been removed. The small bank will be required to extend 75 per cent of its credit to the priority sector

Payment Banks:
i. Payments banks can accept deposits — current and savings bank — from individuals, small businesses and other entities but cannot provide loans.. However, they cannot accept non-resident Indian deposits.
ii. The payment bank will initially be restricted to holding a maximum balance of Rs1 lakh per individual customer.
iii. While the bank can issue ATM/debit cards, it cannot issue credit cards.
iv. It can contract outside liabilities (deposits) but not exceeding 33.33 times (against 20 times in the draft guidelines) its net worth.

2.    Economic growth declines to 5.3% in July-Sept quarter

i. Country's economic growth has declined to 5.3 per cent during July to September, from the previous quarter's 5.7 per cent.
ii. According to an official release, the manufacturing sector, which accounts for about 15 per cent of India's gross domestic product rose by 0.1 per cent during the quarter from the previous period's 3.5 per cent. Agriculture sector growth declined to 3.2 percent against 3.8 percent.

3.    India, Mozambique ink MoU for cooperation in oil, gas sector

i. India today signed a Memorandum of Understanding, MoU, with Mozambique for cooperation in the field of oil and gas. The MoU was signed in the presence of Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan in New Delhi. 
ii. It seeks cooperation in the areas of upstream and downstream oil and gas sector. Participation of Indian energy companies in the project will facilitate access to Liquefied Natural Gas, LNG for the growing Indian gas market. 
iii. Mozambique has emerged as a significant hydrocarbon rich nation following offshore gas discoveries in two adjacent offshore blocks. The country is strategically located near India and is ideally suited for bringing natural gas at market determined price.

4.    Anoop Mishra appointed as new Secretary General of Lok Sabha

i. Former Uttar Pradesh chief secretary Anoop Mishra was on 26 November 2014 appointed as new Secretary General of the Lok Sabha. He was appointed by Lok Sabha Speaker Sumitra Mahajan. 
ii. He will hold the rank and status of Cabinet Secretary with effect from 1 December 2014 up to 30 November 2016 or until further orders.
iii. As an accomplished civil servant of 1978 cadre, Mishra has held several important positions at the Centre and in Uttar Pradesh.
iv. He was the Chief Secretary of Uttar Pradesh for a year with the overall responsibility of the state administration, superintendence of law and order and developmental and infrastructure schemes in Uttar Pradesh.

5.    Historian Tapan Raychaudhuri died

i. Tapan Raychaudhuri, a distinguished historian of modern India’s economic and social history, died on 26 November 2014 at his home in Oxford, England. He was 88. 
ii. Raychaudhuri died of a series of strokes. He was bedridden for a year before his death. He is survived by his wife Pratima Raychaudhuri and daughter Sukanya Wignaraja.
iii. He was an Indian historian specialising in British Indian history, Indian economic history and the History of Bengal

6.    Namsai became the 18th district of Arunachal Pradesh

i. Namsai on 25 November 2014 officially became the 18th district of Arunachal Pradesh. The Chief Minister of Arunachal Pradesh Nabam Tuki made the declaration.
ii. The Chief Minister exhorted the officials to prepare a master plan for the new district and the state government would extend all possible help.
iii. The State Legislative Assembly passed the District re-organisation Bill on 20 March 2013 for creation of Namsai district and notification was issued on 15 July 2013. The formal announcement was made during the 68th Independence Day celebration on 15th August 2014.

7.    EU parliament votes to break up Google

i. European Union lawmakers overwhelmingly backed a motion on Thursday urging anti-trust regulators to break up Google, the latest setback for the world's most popular internet search engine.
ii. Google has been in the EU's regulatory sights since 2010, and is also grappling with privacy issues, requests to scrub search results to comply with a court ruling, copyright concerns and tax controversies.
iii. The non-binding resolution in the European Parliament is the strongest public signal yet of Europe's concern with the growing power of US tech giants. It was passed with 384 votes for and 174 against.
iv. Google declined to comment. European Competition Commissioner Margrethe Vestager has said she will review the case and talk to complainants before deciding on the next step.

v. Her predecessor rejected three attempts by the company to settle complaints that it unfairly demoted rival services and stave off a possible fine of up to $5 billion.
vi. The resolution did not mention Google or any specific search engine, though Google is by far the dominant provider of such services in Europe with an estimated 90 per cent market share.
vii. The lawmakers called on the Commission to consider proposals to unbundle search engines from other commercial services.

8.    Book titled Your Dreams Are Mine Now: She Showed him What Love was released

i. The book titled Your Dreams Are Mine Now: She Showed him What Love was authored by Ravinder Singh was released on 20 November 2014. 
ii. The novel Your Dreams are Mine Now is a powerful and poignant love story that explores the romantic relationship between Rupali and Arun. They are complete opposites and have nothing in common when it comes to their interests and priorities in life. 
iii. Rupali is a small town girl and an idealist, whereas Arun is a Delhi guy with keen interest in youth politics. A major scandal on the college campus brings them together and somewhere along the line they fall in love with each other. But their fight against evil comes at a heavy price which becomes the ultimate test of their lives.

9.    Book titled Black Tornado: The Three Sieges of Mumbai 26/11 released

i. The book titled Black Tornado: The Three Sieges of Mumbai 26/11 authored by Sandeep Unnithan was released on 23 November 2014.
ii. Sandeep Unnithan in his book puts together a blow-by-blow account of the 26 November 2011 terrorist attack in Mumbai and how the siege of Mumbai was thwarted by India's security forces.
iii. The 26/11 attack is widely regarded as the world's first hybrid terrorist attack. The attackers achieved through this long-drawn siege what Al Qaeda did through the high-visibility mass-casualty attack on the World Trade Centre of USA on 11 September 2001. 

10.  Crime novelist PD James died at the age of 94

i. Crime novelist Phyllis Dorothy James on 27 November 2014 died at the age of 94 in Oxford, UK.
ii. She was best known for her series of detective novels starring the policeman and poet Adam Dalgliesh.
iii. Her novels include The Children of Men, The Murder Room and Pride, and Prejudice spin-off Death Comes to Pemberley.

08:00 - By Unknown 0

Daily GK update 27th November 2014

1.    18th SAARC Summit concluded, Next Summit will be held in Islamabad in 2016

i. With the issuing of Kathamandu Declaration, the 18th SAARC Summit concludes at Kathamandu, this evening. Chairperson of the Summit and Nepal Prime Minister Sushil Koirala declared the Summit closed.

ii. The SAARC Framework Agreement on Energy (Electricity) Cooperation was signed among the SAARC member countries. Chairperson Sushil Koirala also announced that the 19th SAARC Summit will be held at Islamabad in 2016
iii. Earlier, Prime Minister Narendra Modi and other SAARC members held informal talks at the Retreat Session of 18th South Asian Association of Regional Cooperation Summit (SAARC) at picturesque Dhulikhel under foolproof security arrangements. Mr. Modi planted sapling of banyan tree at the venue.

2.    SAARC nations sign seamless electricity grid deal

i. In a face saver, SAARC countries today signed a framework agreement on cooperation in power sector but failed to finalise the much-awaited motor vehicle and railway pacts for greater people-to-people contact and movement of goods due to opposition from Pakistan.
ii. There were hectic efforts to pursue the Pakistani side, which stalled the inking of the pacts on the pretext that internal processes were not completed following which three months' time was set for getting approval.
iii. The framework energy pact will enable cooperation in the power sector among the eight member countries and facilitate integrated operation of the regional power grid.
iv. "A time period of three months have been set for approval to the Motor Vehicle and Railway pacts," Nepal's Prime Minister Sushil Koirala, who is also the SAARC chair, said in his address at the concluding session of the 18th summit of the regional grouping.

3.    Australian cricketer Phil Hughes dies of injuries

i. Once compared to the great Donald Bradman, Australia Test cricketer Phillip Hughes passed away today in Sydney following a fatal injury he had incurred in a Sheffield Shield match on Tuesday. Hughes would have turned 26 on Sunday.
ii. During this game for South Australia against New South Wales, Hughes was batting on 63 when he was struck on neck by a bouncer from pace bowler Sean Abbott.
iii. Hughes stood dazed for a few moments before falling face first to the pitch. He did not gain consciousness again.
iv. "It is my sad duty to inform you that a short time ago Phillip Hughes passed away," Australian team doctor Peter Brukner said in a statement.
v. "He never regained consciousness following his injury on Tuesday," added Brukner. "He was not in pain before he passed and was surrounded by his family and close friends.
vi. As a cricket community we mourn his loss and extend our deepest sympathies to Phillip's family and friends at this incredibly sad time."
vii. "Phillip took the blow at the side of the neck and as a result of that blow his vertebral artery, one of the main arteries leading to the brain, was compressed by the ball," Brukner said on Thursday. "That caused the artery to split and for bleeding to go up into the brain. He had a massive bleed into his brain. This is frequently fatal at the time.

Hughes was wearing old, lighter helmet: manufacturer
i. With questions being raised over the degree of safety provided by protective gears in cricket in the wake of the Phil Hughes incident, the manufacturer of the injured cricketer’s helmet, Masuri, has said that the Australian batsman was wearing an older and lighter headgear.
ii. A spokesman for the UK-based company said that Hughes was wearing an old helmet instead of their their latest model, in the Sheffield Shield match between New South Wales and South Australia at the SCG on Tuesday.
iii. “From the footage and pictures currently available to Masuri, it appears that Phil Hughes was struck by the ball to the rear of the grille and below the back of the shell, missing his Masuri Original Test model helmet,” the spokesman was quoted as saying by Australian press.
iv. Hughes continued to fight for life as he remained in a critical condition after being struck on the head in a freak accident on Tuesday.




4.    Justice CK Prasad assumes charge as new PCI chief

i. Retired Supreme Court judge, Justice CK Prasad, Thursday assumed charge as the chairman of the Press Council of India (PCI), an official statement said.
ii. "Justice C.K. Prasad who retired as the judge of the Supreme Court of India July 14, 2014 assumed charge today (Thursday) as chairman, Press Council of India," said the PCI statement.
iii. Justice Prasad succeeds Justice Markandey Katju who was appointed as PCI chairman Oct 5, 2011.

5.    Sanskrit to be 3rd language in Classes 6-8 in KV: Centre to SC

i. Centre on Thursday submitted before the Supreme Court that Sanskrit will be the third language in classes 6 to 8 in Kendriya Vidyalayas.
ii. Appearing before the bench headed by Chief Justice H L Dattu, Attorney General Mukul Rohatgi sought its permission to file an affidavit on the controversy arising out of Centre's decision to drop German as an alternative to Sanskrit as third language in Kendriya Vidyalayas

6.    President penned a book titled The Dramatic Decade on 1970s era

i. President of India Pranab Mukherjee penned a book titled The Dramatic Decade: The Indira Gandhi Years.
ii. The book has been published by Rupa and will be released on 11 December 2014.
iii. The Dramatic Decade is the first of a three-part volume; the second one will be on the years from 1981–88 and the third volume will be from 1988 to 2012.
iv. The book presents an exceptional portrait of a complex nation and draws from Pranab Mukherjee’s personal diary extracts, conversations with key players of the 1970s, and vital secondary literature.

7.    Biography My Name is Abu Salem released

i. Biography titled My Name is Abu Salem was released on 16 November 2014.
ii. Biography on underworld gangster Abu Salem has been written by S Hussain Zaidi and published by Penguin.  
iii. The author of the book, Zaidi who knows the Mumbai underworld better than anyone else has tried to tell, the life of Salem.
iv. In My Name is Abu Salem, the author has tried to present complete unknown details and first accounts of the gangster.

8.    PNB announces free ATM usage for customers

i. Punjab National Bank (PNB) on Wednesday said it will continue giving free transactions to all saving bank account cardholders using PNB ATMs, irrespective of the number of transactions.
ii. The Reserve Bank of India (RBI) had advised that atleast five free transactions (inclusive of financial and non-financial transaction) per month should be permitted to the savings bank account holders for use of own bank ATMs.
iii. PNB has gone beyond this norm to provide value added services to its own customers, according to a release. .  

9.    RBI eases rules for low-cost home loans

i. To provide liquidity to retail investors investing in long-term bonds issued by banks for financing infrastructure and affordable housing, the Reserve Bank of India said banks can extend loans to individuals against these bonds.
ii. The central bank said boards of the banks should lay down a policy in this regard prescribing suitable margins, purpose of the loan and other safeguards.
iii. Further, such loans should be subject to a ceiling, say, Rs. 10 lakh per borrower, and tenure of loan should be within the maturity period of the bonds.
iv. The RBI also stated that banks are not permitted to lend against such bonds issued by other banks.​

10.  Bharat Asmita award for IIMB’s Trilochan Sastry

i. Trilochan Sastry, Professor in Quantitative Methods and Information Systems, Indian Institute of Management Bangalore (IIMB), has been awarded the ‘Bharat Asmita’, an honor instituted by the Pune-based MIT group of institutions.
ii. Professor Trilochan Sastry teaches a wide variety of courses in the post graduate programme, doctoral programme and executive education programmes, including operations management, quantitative methods, data structures, algorithms and discrete mathematics, at IIMB.
iii. Professor Sastry has, to his credit, a number of management cases on operations management, ethics, change management and electoral reforms.
iv. Announcing the awards for 2014, ‘Bharat Asmita’ Executive Director Rahul Karad said: “This is the eleventh year of the awards, which aim at recognizing the contribution of prominent figures from the field of teaching, people’s representation, public awareness and science and technology.”

11.  Pakistani actress Veena Malik sentenced to 26 years in jail for blasphemy

i. Pakistani actress Veena Malik was sentenced to 26 years in jail on 26 November 2014 by an Anti-Terrorism Court (ATC) of the Gilgit region of Pakistan. 
ii. She was sentenced for blasphemy for appearing in mock Geo TV wedding scene in which religious song about the wedding of the Prophet Muhammad's daughter was played in background. 
iii. Apart from Veena Malik, the court’s Judge Shahbaz Khan also sentenced Mir Shakil-ur-Rahman, owner of Geo TV and Jang group, Malik’s husband Asad Bashir Khan and TV host Shaista Wahidi for 26 years each.
iv. The ATC also imposed a 1.3 million Pakistani rupees fine on the convicts and ordered that their properties should be sold to raise the fine, if they failed to pay it. 

12.  Chennai Super Kings should be terminated: SC

i. The Supreme Court today observed that IPL team Chennai Super Kings, CSK, owned by BCCI President in exile N Srinivasan should be terminated without further enquiry as one of its officials Gurunath Meiyappan has been indicted for betting by an inquiry committee.
ii. Meiyappan is the son-in-law of Srinivasan who is himself facing questions on conflict of interest. The court asked Srinivasan to give details about who controls Chennai Super Kings owned by India Cements. Srinivasan is the Managing Director of India Cements. 
iii. In further setback for Srinivasan, the Supreme Court proposed fresh elections in the BCCI. The apex court, which was hearing the Justice Mudgal Committee report into IPL betting and spot-fixing scandal, said election can be held but persons, including Srinivasan, named in the report will not contest and new board will take decision on the scam. 

09:14 - By Unknown 0

Daily GK update 26th November 2014

1.    China beats India in November FII inflows: HSBC
i. Foreign institutional investors warmed up to Asian equities in November as the region recorded net inflows of $5.3 billion, out of which India attracted $1.4 billion, says a report by HSBC.
ii. According to the global financial services major, after two consecutive months of sell-offs, FIIs have warmed up to Asian equities and all markets have received positive flows in November.
iii. Among Asian economies, China regained the top position as the ‘most loved’ market, pushing India down to second position in the region, while Thailand was placed at the third spot, it said.
iv. Till November 24, the region recorded a net inflow of $5.3 million and though all markets received positive flows, Taiwan and India received the major chunk of funds with inflows of $2.3 billion and $1.4 billion, respectively.

2.    Modi proposes Saarc business traveller card

i. Prime Minister Narendra Modi on Wednesday proposed a Saarc business traveller card for making it easier for traders and merchants in the region to travel and access one another’s markets.
ii. “India will now give business visa for 3-5 years for Saarc. Let’s make it even easier for our businesses through a Saarc business traveller card,” the prime minister said as the two-day, 18th Saarc Summit began at Kathmandu.
iii. According to Modi, intra-regional relations become stronger as connectivity is increased and people-to-people contacts encouraged. He said this will also provide for boosting opportunity for tourism in the region.

3.    State Bank of India to launch Islamic equity fund

i. State-owned bank will launch an Islamic equity fund next month aimed primarily at the country's 170 million Muslims.
ii. The Securities and Exchange Board of India recently allowed the government-owned State Bank of IndiaBSE 0.41 % and three mutual funds to launch Sharia funds.

Note: i. India's stock exchanges have between 600 and 700 companies that are Sharia-compliant.
ii. India is only the second country outside the Islamic world where a state-owned bank is offering a Sharia-compliant fund. The U.K. issued sovereign Islamic bonds in June.

4.    Kotak Mahindra Bank is the first bank to fully own an insurance business

i. Kotak Mahindra BankBSE 0.07 % on Tuesday became the first bank to get the Reserve Bank of India's (RBI's) permission to set up a wholly-owned non-life insurance company.
ii. The bank is already the promoter of a life insurance company in partnership with Old Mutual of South Africa.

Note: i. RBI guidelines allow a bank to hold max 50 per cent in insurance joint venture. However, RBI allowed some exceptions, like SBI and ICICI Bank. In both these partnerships, the banks hold 74 per cent.
ii. Kotak General Insurance will be the 29th non-life company in the country. The last non-life insurer to get permission from the regulator was Cigna TTK — a health insurance company.
ii. The last company to set up a full-fledged general insurance business was Liberty Videocon General Insurance.

5.    Canara Bank partners Micro Energy

i. Canara Bank has signed a memorandum of understanding with Micro Energy Credits Corporation to finance bank customers buying energy efficient ‘green’ products such as cook stoves, solar home systems, biogas digestors and water purifiers.
ii. The partnership has identified Chitradurga district in Karnataka to promote such green products on a pilot basis.

6.    ‘LS passes amendment bill on appointment of CBI Chief
i. The Lok Sabha today passed the Delhi Special Police Establishment (Amendment) Bill, 2014 by voice vote.
ii. As per the new provisions, CBI director will be selected by a panel which will comprise of Prime Minister, Leader of Opposition in the Lok Sabha or the leader of the Single largest party in the House and Chief Justice of India or any Supreme Court Judge.
ii. Earlier, there was no provision of the leader of the single largest party in the panel. The Bill also makes a provision that no appointment will be invalid merely because of vacancy or absence of a member of the panel. 

7.    Assam NGO Aaranyak won UN Lighthouse Activities award

i. Aaranyak, an Assam-based NGO working for the conservation of nature and a Kathmandu-based International Centre for Integrated Mountain Development (ICIMOD) on 25 November 2014 won United Nations Lighthouse Activities award for the year 2014. 
ii. They won the award under the focus area of information and communication technology (ICT) solutions.
iii. They won the award for its community-based flood early warning system that has benefited 40 villages in flood-prone Dhemaji and Lakhimpur districts. Since 2010-11, the system has directly or indirectly benefitted more than 20000 people living in the catchment areas of two rivers, Jiadhal in Dhemaji and Singora in Lakhimpur districts. 

8.    Haryana government reduced retirement age of government employees from 60 to 58

i. Haryana government reversed the retirement age of government employees from 60 to 58 years. It also reversed the retirement age of Class IV, visually impaired and handicapped employees from 62 to 60 years.
ii. Government notification will come in effect from 30 November 2014. While, the upper age limit for fresh recruitment would remain 42 years.
iii. The decision was made during a Cabinet meet chaired by Chief Minister Mahohar Lal Khattar at Chandigarh.

9.    Sania Mirza appointed as UN Women Goodwill Ambassador for South Asia

i. United Nations (UN) Women on 25 November 2014 announced the appointment of Indian tennis superstar and youth icon, Sania Mirza, as its Goodwill Ambassador for South Asia. The organisation is dedicated to gender equality and women’s empowerment.
ii. She became the first South Asian woman to be appointed as a Goodwill Ambassador.
iii. The other Goodwill Ambassadors include British actor Emma Watson, Academy Award winner Nicole Kidman, HRH Princess Bajrakitiyabha  Mahidol of Thailand, and Indian actor-filmmaker-singer Farhan Akhtar.

10.  Boxer Manoj Kumar finally receives Arjuna Award

i. Boxer Manoj Kumar today received the prestigious Arjuna Award from Sports Minister Sarbananda Sonowal.
ii. The 2010 Commonwealth Games gold-medalist, was bestowed with the honour in a function organised in the National capital. 
ii.i Manoj was earlier denied the award by the Kapil Dev-led selection committee after which he approached the Sports Ministry but after being snubbed for a second time in the review meeting, Manoj took the legal route and filed a case in the Delhi High Court.
iii. He won the case and that led to the Ministry accepting his nomination for the award.

11.  Michael Phelps named Male Athlete of the Year at the 2014

i. Michael Phelps was crowned Male Athlete of the Year at the 2014 USA Swimming Golden Goggle Awards on 24 November 2014. He was crowned with the title for a fifth time.
ii. Earlier, he won the title in 2004, 2007, 2008 and 2012. He was awarded with the title despite being suspended from competition for six months after a drunken driving arrest in September 2014.

12.  Indian cyclist Deborah creates history; Wins 4 golds in Track Asia Cup

i. Ms Deborah, a tribal girl from Andaman and Nicobar Islands has created history in National Level by winning four Gold Medals in the Track Asia Cup Cycling Championship 2014 which concluded at Indira Gandhi Stadium, New Delhi.
ii. Deborah won both the two gold medals - in the women's elite keirin and sprint finals - yesterday on the concluding day of the championship for an overall individual tally of four gold.
iii. India also grabbed four silver, including the two they won yesterday and added three more bronze medals to their tally to finish with a total of 18 medals, 5 gold, 4 silver and 9 bronze.

08:59 - By Unknown 0

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07:06 - By Unknown 0

Daily GK update 25th November 2014

1.    CK Prasad is set to be appointed as the next Chairperson of the Press Council of India

i. Former Supreme Court judge CK Prasad is set to be appointed as the next Chairperson of the Press Council of India.

ii. Information and Broadcasting Ministry sources said Prasad was selected by a committee headed by Vice-President Hamid Ansari yesterday and a communication has been received in this regard.
iii. Prasad will succeed Justice Markenday Katju as the Chairman of the PCI.

2.    Kotak Mahindra gets RBI approval to enter general insurance business

i. After Kotak Mahindra Bank acquired ING Vysya Bank in an all-share deal last week, it announced it entry into General insurance business.
ii. On Tuesday, the fourth largest private bank (post merger with ING Vysya) received approval from RBI to form a 100% subsidiary to enter general insurance industry, which is currently growing at a Rs. 77,000 crore premium per annum, said Gaurang Shah, President - Asset Management, Insurance and International Business at Kotak Bank.
iii. The bank had earlier received an in-principle approval from Insurance Regulatory and Development Authority (IRDA) for incorporation of the General Insurance firm. The company would now be required to apply and complete the registration process with IRDA to act as a General Insurance Company.
iv. The bank already has a tie up with Tata AIG General Insurance Company to sell and distribute its products.
v. Kotak also has a Life insurance unit called Kotak Mahindra Old Mutual Life Insurance Ltd, a joint venture between Kotak Mahindra Bank and South Africa-based Old Mutual Public Ltd.

3.    Modi arrives in Nepal for SAARC Summit

i. Prime Minister Narendra Modi arrived in Kathmandu with an aim to inject new momentum to regional bloc SAARC during its two-day summit beginning tomorrow as he said development of close relations with neighbours was a key priority for his government.
ii. During the courses of the next three days, Mr Modi is scheduled to meet Nepal PM Sushil Koirala and other Nepali leaders on Tuesday itself.
iii. India and Nepal are to sign some agreements, including on energy and transport, in the presence of the two prime ministers.
iv. Meanwhile, SAARC foreign minister level meeting started on Tuesday. The meeting would consider the report submitted by SAARC Standing Committee, a body of foreign secretaries.

4.    Chuck Hagel quits as US defense secretary

i. US Defence Secretary Chuck Hagel resigned amid reports of differences with President Barack Obama who apparently wants to install a new leadership at the Pentagon as he enters the last two years of his presidency facing new global challenges like the rise of IS.
ii. Obama himself made the surprise announcement at a White House media availability convened at a very short notice. Hagel had tendered his resignation a few hours ago. 
iii. He has been asked to stay till a replacement is announced by Obama and is confirmed by the Senate. "Over nearly two years, Chuck has been an exemplary defence secretary, providing a steady hand as we modernised our strategy and budget to meet long-term threats while still responding to immediate challenges like IS and Ebola,"
iv. Robert Gates and Leon Panetta were the earlier two defense secretaries. Obama said, Hagel has played a key role in the accomplishments of his administration in the defence sector. 

5.    Kathak legend Sitara Devi passes away

i. Kathak queen Sitara Devi died at a hospital in Mumbai today. She was 94.
ii. Born in 1920 in Kolkata, Sitara Devi drew from the themes, poetry and choreography collected by her father in her choreographies. She also got inspired from the environment around her — whether it is a town or a village.
iii. She was born as Dhannolakshmi to a family of Brahmin ’kathakar’ Sukhdev Maharaj and chose school and dance over an early wedding, as was the norm of the 1920s.
iv. Her father, a Vaishnavite Brahmin scholar and Kathak exponent, sent her to a local school where she impressed her teachers and the local media with her performance in a dance drama, “Savitri Satyavan“
v. Sitara Devi married director K Asif of Mughal-e-Azam fame and then Pratap Barot. She was a vital force who stood for zest and vigour in Indian dance.
vi. She was honoured with the Legends of India Lifetime Achievement Award 2011 for her contribution to the classical dance genre for over six decades.

6.    Adani Group-owned Dhamra Port

i. Adani Group-owned Dhamra Port Company Limited (DCPL) would invest around Rs 7000 crore for expansion of cargo handling facility, an official of the company said today.
ii. Gujarat-based Adani group bought out L&T and Tata Steel's shares in the company in March 2014 at an enterprise value of Rs 5500 crore.
iii. Following the acquisition, the second phase of development was to be initiated within 90 days and completion targeted in 30 months.
iv. This continued expansion will allow Dhamra port to exceed 100 million tonnes of cargo capacity by the year 2020, he said.

Note: The port, situated between Haldia in West Bengal and Paradip in Odisha, was mostly handling cargo like coal and limestone.

7.    Nepal gives Indian firm green light for $1 billion hydroelectric plant

i. Nepal has given an Indian company permission to build a 900 megawatt hydropower plant, government officials said on Monday.
ii. The two countries will sign an agreement for the $1.04 billion project, which provides Nepal with free electricity and India energy for its power-hungry economy.
iii. The project, which will be built by Satluj Jal Vidyut Nigam (SJVN) Limited, was originally cleared in 2008 but never implemented after Kathmandu lobbied for greater benefits.

8.    GMR Infra gets SEBI nod for Rs. 1,500-cr rights issue

i. GMR Infrastructure has received the Securities and Exchange Board of India approval to raise up to Rs. 1,500 crore through rights issue.
ii. In a rights issue, shares are issued to existing investors as per their holding at a pre-determined price and ratio.
iii. The company had filed its application with SEBI for the proposed rights issue in September.
iv. SEBI had issued its final observations on the draft offer documents on November 17, according to the latest update by the capital markets regulator.
v. Issuance of ‘observations’ on offer documents by SEBI is considered as a clearance to the issuer to go ahead through routes like IPOs, FPOs and rights issue.
vi. As per the draft letter filed by the firm, the company would issue equity shares for an aggregate amount “not exceeding Rs. 1,500 crore on a rights basis” to its shareholders.
vii. GMR Infrastructure has interest in sectors such as airports, roads, power plants and urban infrastructure.

9.    Indian Railways team in China for Delhi-Chennai bullet train

i. An Indian Railways team is in China to chalk out plans for conducting feasibility study to build the 1,754 km-long Delhi-Chennai high-speed train corridor, world's second largest bullet train line.
ii. The high-level team of officials from Rail Vikas Nigam Limited led by Satish Agnihotri arrived here yesterday and is in talks with China's High Speed Rail Corp to build the Delhi- Chennai corridor for which the communist giant has agreed to conduct the study free of cost during President Xi Jinping's visit to India in September,
iii. The proposed corridor could be the second largest in the world after China's 2,298 km-long Beijing-Guangzhou line which was launched last year. Running at a speed of 300 km per hour, it covers the distance in about eight hours.

Note: India is currently considering two corridors for high speed trains. While Japan is conducting feasibility study for the Bullet train project in Mumbai-Ahemdabad corridor, China will do the same for the Delhi-Chennai route which expected to begin by early next year.

10.  Ricoh India got deal to modernise post offices 

i. Imaging and information technology solutions provider Ricoh India on Tuesday said that it has got a deal worth Rs. 1,370 crore from Department of Posts to modernise post offices through automation.
ii. Under the project, Ricoh India will supply, install and maintain services of hardware, peripheral devices and operating system.
iii. The scope of work includes supply of mobile computing devices and peripherals, installation of solar UPS, connectivity to access the application by service providers along with maintenance for five years, the company said.
iv. The primary goal of the Rural ICT project is to improve the quality of service, provide more value added services and achieve ‘financial inclusion’ of un-banked rural population.

Note: “India Post is an iconic organisation in India, the largest such network in the world and playing a crucial role in the socio economic development of rural India, touching the lives of common man

11.  WTO, WASTE and FINISH signed MoU to end open defecation in India

i. Three global organisations on 24 November 2014 signed a memorandum of understanding (MoU) to end open defecation in India. The agreement is for three years.
iii. These three organisations are the World Toilet Organisation (WTO), WASTE and the Financial Inclusion Improves Sanitation and Health (FINISH). They share the common goal of making sanitation accessible and affordable to all citizens.
iii. The MoU was signed to share best practices in the sanitation sector and help millions of Indians gain access to basic sanitation facilities.
iv. The objective of the agreement is to support the Central government in making the country free of open defecation and promoting sustained usage of sanitation systems.

12.  International Day for the Elimination of Violence Against Women observed today

i. International Day for the Elimination of Violence Against Women observed across the world on 25 November 2014.
ii. The day was observed to raise awareness about violence against women and discuss solutions that would work for women community.
iii. The campaign called Orange Your Neighbourhood to raise awareness against Gender-Based Violence will be held from 25 November to 10 December 2014. 
iv.  The campaign is part of Secretary-General Ban Ki-moon's campaign UNiTE to End violence against Women.

13.  Bilal Tanweer won Shakti Bhatt First Book Prize 2014

i. Lahore-based author Bilal Tanweer on 24 November 2014 won the 2014 Shakti Bhatt First Book Prize for his novel The Scatter Here Is Too Great (Random House India).
ii. Bilal Tanweer’s book underlines the crucial importance of literature in our larger cultural landscape.
iii. The Scatter Here Is Too Great balances the universality of existential torment with the often horrifying nitty-gritty realities of its location, Karachi.
iv. Tanweer, born and raised in Karachi, has published fiction, poetry and translation in various international journals. 
v.  In 2011, he was selected as a Granta New Voice and was one of the eleven recipients of the 2010 PEN Translation Fund Grant.

14.  West Bengal Governor KN Tripathi appointed as Governor of Bihar

i. West Bengal Governor Keshari Nath Tripathi was appointed as Governor of Bihar by the President Pranab Mukherjee on 23 November 2014.
ii. He will discharge the functions of the Governor of Bihar in addition to his own duties as Governor of West Bengal.
iii. He will take the charge from Bihar Governor D Y Patil, who completes his tenure on 26 November 2014.

15.  Shah Rukh Khan named as Brand Ambassador of DHFL

i. Housing finance company DHFL announced to name Shah Rukh Khan as its brand ambassador. DHFL is the second largest housing finance company of India.
ii. Shah Rukh is the first brand ambassador of DHFL in its 30 year journey.
iii. The company has been marketing its solutions to customers across 550 locations in India through national and regional level advertisement and event campaigns.

16.  Hughes in critical condition after being hit by bouncer

i. Australia Test batsman Phil Hughes has been rushed to St Vincent’s Hospital in critical condition after being knocked out by a bouncer during a Sheffield Shield match between South Australia and NSW at the SCG .
ii. The 25-year-old collapsed after being struck on the side of the head by a Sean Abbott delivery and was stretchered from the ground.
iii. He is currently undergoing surgery and according to Ambulance officials he was in a critical condition.
iv. Phil suffered an injury to his head from a delivery Phil has been taken to hospital in Sydney and has been accompanied by family members and SACA General Manager High Performance, Tim Nielsen.”

02:16 - By Unknown 0

Download Interview Call Letter for SBI Assistant

Download Interview Call Letter for SBI Assistant
Dear Students,

SBI has active the link to download Call Letter for SBI Assistant Interview. Please click below link to download Interview Call Letter.

• Click here to download Call Letter for Interview

05:19 - By Unknown 0

Daily GK update 23 - 24th November 2014

1.    World Chess Championship: Carlsen retains title against Anand

i. Magnus Carlsen asserted his supremacy over Viswanathan Anand for the second year in running as the Norwegian retained his World Championship title after defeating the Indian Challenger in the 11th game, in Sochi, Russia on Sunday.

ii. The Norwegian world champion closed the 12-game match with a 6.5-4.5 scoreline, courtesy his win in the penultimate game.
iii. In the 11th game too, Anand made fewer mistakes than Calrsen and some even opined that the Indian had better chance. As it happened in the game, Anand came up with an exchange sacrifice when according to Grandmaster Peter Svidler, 'he felt he ought to be doing something'. 
iv. As things became clear, the exchange sacrifice was probably not the best of solutions for Anand in a seemingly equal situation and this was what eventually plotted the downfall for the Indian, Anand however regretted his decision to sacrifice a rook for a minor piece. 
v. "It was a bad gamble, and I got punished," he said. 

2.    Deepak Gupta appointed as Chairman of UPSC

i. Deepak Gupta was appointed as chairman of Union Public Service Commission (UPSC). He was appointed as Chairperson of UPSC by the President Pranab Mukherjee in accordance with the Article 316 (1) of the Constitution.
ii. He replaced Rajni Razdan, who completed her term on 22 November 2014.
iii. He is the first non-UPSC member to be appointed as UPSC chairman.

3.    18th SAARC Summit begins from 26th Nov

i. The eighteenth SAARC summit will be held in Kathmandu, the capital of Federal Democratic Republic of Nepal on 26–27 November 2014.
ii. This time the summit is taking place after an interval of three years as the last summit was held in 2011 in Maldives.

Note: i. The South Asian Association for Regional Cooperation has eight members: Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
ii. Nepal has formed a high-level preparatory committee and several other panels to make the event a success, officials said.
iii. This is the third time Nepal will host the SAARC Summit after 1997 and 2002.

4.    Senior Congress leader Murli Deora passes away

i. Senior Congress leader and former Union Minister Murli Deora passed away here this morning after prolonged illness.
ii. He was 77 and is survived by his wife and two sons, including former MP Milind Deora.
iii. Murli bhai, as he was known as, died at around 3.25 a.m. He had been unwell and admitted to hospital. He was brought home two days ago, family sources said.

5.    Adani Power to buy Avantha’s Korba plant

i. Crompton Greaves has said Avantha Power & Infrastructure Ltd (APIL), in which it holds an equity investment of about 23.14 per cent, has signed a memorandum of understanding with Adani Power for 100 per cent sale of APIL's Korba West Power Company Ltd (KWPCL).
ii. KWPCL, a special purpose vehicle of APIL, is commissioning a coal-based thermal power plant of 600 MW.
iii. In a communication to the stock exchange, Crompton said KWPCL is valued at over Rs. 4,200 crore.

6.    Senior Marathi actor-director Raghuvir Nevrekar died

i. Senior Marathi actor-director Raghuvir Nevrekar died in Mumbai on 23 November 2014 following a brief illness. He was 85.

7.    Switzerland defeated France to win 1st-ever Davis Cup of Tennis

i. Switzerland have won their first ever Davis Cup Tennis title. In the best of five Tie, at Lille, yesterday, they beat Hosts France by securing an unbeatable three - one lead.
ii. Roger Federer won the first revers singles by defeating Richard Gasquet in straight sets. The second reverse singles was canceled.

Note: Switzerland is the fourteenth nation to win the Davis Cup. The victory is one of the greatest sporting achievements for Switzerland.

8.    Sarjubala, Saweety settle for silver at World Championships

i. Indian pugilists S Sarjubala (48kg) and Saweety (81kg) faltered at the final hurdle to settle for silver medals, rounding off a decent campaign for the country in the 8th World Women’s Boxing Championships, in Jeju on Monday.
ii. Sarjubala lost to world No 3 Nazym Kyzaibay of Kazakhstan, who also happened to be a bronze-medallist from the previous World Championships.
iii. Saweety, on the other hand, lost to Yang Xiaoli of China, to also settle for a silver medal. India thus managed to improve its performance from a bronze in the previous edition to a couple of silvers this time.

9.    Australia beat S Africa, get top ODI ranking

i. Australia beat South Africa by two wickets in Sydney to win the one day international series 4-1 and return to the top of the world ODI rankings. In the International Cricket Council's new rankings table, Australia are only 0.2 ranking points ahead of India, with South Africa third.

10.  Lewis Hamilton wins Abu Dhabi Grand Prix & Formula One title

i. Lewis Hamilton has won the Abu Dhabi Grand Prix as well as the Formula 1 racing championship title of the year. Felipe Massa came second in the race. It is Hamilton’s eleventh win of the season, and he takes the crown by 67 points from Nico Rosberg. 
ii. At Yas Marina circuit today, Hamilton jumped into the lead in the very beginning of the race and never looked behind. He was followed by his Mercedes team mate Nico Roseberg in the initial laps but Roseberg’s engine broke down in the middle of the race. The World number one, Lewis Hamilton has now become the first British double world champion since Jackie Stewart in 1971.

05:15 - By Unknown 0

IBPS PO -3 Interview Questions Asked in various centers

IBPS PO -3 Interview Questions Asked in various centers

                 
(1) Tell me About Yourself?

(2) Diff bet. GDP & GNP ?

(3) What is Boyle's Law?

(4) What is law of Motion?

(5) then my hobbies?

(6) my strengths & weakness?

(7) they give me a paper to find hexadecimal of 45?

(8) are u a team player?

(9) Why u want join banks?

(10) can u tell me the statistics about the growth in banks?

(11) What is the difference between credit n debit card??

(12) How can an illiterate person use card if he doesn’t know how to use it and enter d pin?

(13) Is there ant ATM without a PIN?

(14) What about d ppl in rural areas who are illiterate and how will they be able to use cards n all.?

(15) what is liquidity?

(16) who is the regulator of banks?

(17) Functions of RBI?

(18) Do you have bank a/c?

(19) in which bank?

(20) which type of account?

(21) How much of interest they are giving to you?

(22) What type of Demand Loans are introduced by Andhra bank?

(23) do you know about SHG? EXPLAIN IT.

(24) what is financial inclusion ?

(25) who introduced financial inclusion ?

(26) How many type of accounts ?

(27) What is priority sector?

(28) In education loan there is need of any colletral security ?

(29) limit for education loan?

(30) what is demat account ?

(31) who does open demat account and can a bank it

(32) You have done mca in 2011...after it wht u have done ...n why banking ?

(33) what is rdbms ?

(34) rdbms softwares ?

(35) what lastest version of oracle 9i ?

(36) what is normalisation ?

(37) which N-form most use in normalisation ?

(38) is bitcoin ?

(39) who is telecommunication minister ?

(40) latest news by supreme court about adhar card ?

(41) What is a bank??

(42) As a bank employee what should we want to do for bank??

(43) How your field useful to bank??

(44) What is the problems at present public facing in the Public sector banks??

(45) What is your score??

(46) Will you serve in the bank upto the end??

(47) Who is the chairman of SBI??

(48) What is the full form of ATM??

(49) ग्रेजुएशन किस सब्जेक्ट से किया है ?

(50) तो बी.टेक करते हुए सोचा था की बैंक ज्वाइन करोगे ?

(51) तो अब फिर बैंकिंग क्यों ?

(52) बैंक क्या है ?

(53) रेपो रेट क्या है ?

(54) कितनी है रेपो रेट ?

(55) रिवर्स रेपो रेट क्या है ?

(56) किन्ही तीन बैंकों के नाम और उनके चेयरपर्सन के नाम बताओ?

(57) SBI के चेयरपर्सन कौन है ?

(58) किसी बैंक में अकाउंट खोलने के लिए क्या क्या डॉक्यूमेंट जरुरी होता है?

(59) आज की कोई दो हैडलाइन बताओ ?

(60) RTI और RTE क्या हैं ?

(61) You have completed MCA now why u have chosen banking sector ?

(62) What is www?

(63) What is CRR and SLR

(64) what is augusta westland deal ?

(65) Who is the health minister of delhi ?

(66) who is chief election commissioner of india ?

(67) What is your opinion about arvind kejriwal ?

(68) Do u think arvind kejriwal can change the face of Indian politics.

(69) Current Repo rate,bank rate,Reverse repo rate ?

(70) Your hobbies

(71) What have you done in your graduation?

(72) Tell me about your father’s profession

(73) Who regulates insurance sector?

(74) Where is it’s headquarter?

(75) Who regulates share market?

(76) Where is its HQ & who is chairman?

(77) What is difference between Primary & Secondary market?

(78) What is IPO?

(79) What is Follow up IPO? If IPO has already issued then what is the need of it?

(80) What is RBI?

(81) does it regulate cooperative banks also?

(82) Do u have any bank account?

(83) Who is head of SBI?

(84) Have you heard about CSR?

(85) Tell me 2 companies which are following CSR?

(86) Tell me 2 names of public & pvt banks who’s head is a woman

(87) Earlier u said that RBI controls monetary policy, when govt. passes the budget then what is 
the need of monetary policy?

(88) what is reverse repo rate?

(89) current reverse repo rate is?

(90) when RBI borrows from other banks, then money in market increases or decreases?

(91) what is LT, ST, MT

(92) after that Infrastructure Sector me kuan si financing hoti hai ST,LT

(93) Who is the CJI of India.

(94) Who is the CVC

(95) Who is the CIO

(96) Who is the Chief election Officer.

(97) What is the function of Financial Management.

(98) What is BEP..

(99) who control the working of banks & how

(100) Asked me about 2 Rates

(101) What is current Bank Rate

(102) What are basic A/c Principals..

(103) Liability & assets side of Banks

(104) What is Sarfaesi act

(105) What is NPA

(106) What is the serious problem that the economy is facing

(107) What is cad

(108) How can u suit yourself in a bank

(109) Where u have worked?

(110) After MBA, why you want to join Bank, and how u are useful to us?

(111) Difference between Sales and Marketing?

(112) Types of customers?


(113) Difference between World Bank and IMF?

(114) Difference between money Market and Capital market?

(115) Last question regarding Bhartiya Mahila Bank?

(116) which year you completed your B.com?

(117) favorite sub which i told account then they ask why loan and investment come in balance sheet?

(118) when i told them but said why it is shown under investment head then i said sorry i dont 
remember .

(119) what is fund flow ..

(120) What is your favorite chapter in account i told cost acc..

(121) what is opportunity cost. Absolute cost ..

(122) if u take loan from bank which side in balance sheet com ..

(123) what u know about banking?

(124) how rupees value getting depreciated? i

(125) What are the measures to control depreciation .

(126) What types of crops in ur region they grow commonly?

(127) wht are your hobbies?

(128) What are todays headlines?

(129) Do you support AAP?

(130) Tell me wht is CRR and how RBI uses this as a tool for various purposes?

03:46 - By Unknown 0

GK Questions asked SBI associate PO 2014 exam(23rd November - Morning & Evening shift)

GK Questions asked SBI associate PO 2014 exam(23rd November - Morning shift)

We are providing you some of the GK,marketing and computer questions and Descriptive topics asked in today's exam.(morning & evening shift)

• Book 'road to the deep north' that won Men's Booker award is written by - Richard Flanagan
• Why west indies board cancelled series with india? - Salary disputes between Players and WICB
• What is the full form of LAN? - Local Area Network
• Who is the current Vice president of the USA? - Joe Biden 
• What is the full form of BIOS?- Basic Input Output System
• What are the Stages in Product Life Cycle? - Introduction,Growth,Maturity and Decline
• Ctrl+s used for? - To save the document
• Shit+delete used for ? To Permanently delete a file  
• What does letter A dnote in NPA? - Assets
• What is the full form of ASCII? - American Standard Codes for Information Interchange
• SEBI is which kind of body? - Market regulating Body
• One ques relted to Money market.
• Who is the current Secretary-General of the United Nations? - Ban Ki-moon
• Who is the current CM of Haryana? - Monohar Lal Khattar
• Who is the Current chief economic officer? - Arvind Subramanian
• The first page of website is called as? - Home Page
• What the name of the apex bank of USA? - Federal Reserve Bank
• What is the full form of USB? - Universal Serial Bus

GK Questions asked SBI associate PO 2014 exam(23rd November - Evening shift)

• We are providing you some of the GK and computer questions asked in today's exam.(Evening shift)
• What is the full form of MTSS ?-Money Transfer Service scheme
• Who is the Minister of Tribal Affairs? - Jual Oram
• What is the minimum paid up capital for Small Banks? - 100 crore
• Router is use for which purpose? - Data transmission between the computers
• Network speed is measure in? - bits per second 
• What is the shortcut key to insert new document? - ctrl + n
• What is the full form of HTML? - Hyper Text Markup Language
• What does T stands for in CTSS? - Time
• One question from countries and their capitals.
• Which of the following provide facility to use the public network to transmit secret data? - Virtual Private network
• What is the shortcut to select all texts of a document? - ctrl + a
• Where is the HQ of allahabad bank? - Kolkata

09:30 - By Unknown 0

Daily GK update 22nd November 2014

1. Govt approves new Rs 43,033-cr rural electrification scheme.

i. Government approved Rs 43,033-crore rural electrification scheme Deendayal Upadhyaya Gram Jyoti Yojana.
ii. The scheme will replace the existing Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY).

iii. The estimated cost of the scheme for above two components is Rs 43,033 crore which includes the requirement of budgetary support of Rs 33,453 crore from the government over the entire implementation period.
iv. 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.

2. Forward Markets Commission tightens rules for warehousing service providers

i. Commodity market regulator Forward Markets Commission, or FMC, has strengthened the warehousing accreditation norms to avert an occurrence of an NSEL-like scam in the commodity futures market.
ii. The new norms will take effect after March 31, 2015 and the existing warehouse service providers (WSPs) in their current format will not be allowed to operate in the exchange space beyond June 30, 2015.
iii. FMC will set down net worth, ownership and corporate governance norms for WSPs in exchanges like MCX, NCDEX, ACE and NMCE.

3. Coronation of next Imam has no legal sanctity: HC

i. The Delhi High Court on Friday said the ceremony (dastarbandi) to anoint Shahi Imam Maulana Syed Ahmed Bukhari's son as the Naib Imam of Jama Masjid "would not amount to an appointment".
ii. A bench of Chief Justice G Rohini and Justice Rajiv Sahai Endlaw made the observation after taking into account the contentions of the Centre, Delhi Wakf Board and petitioners, who have challenged the ceremony.
iii. The court also noted that under the Wakf Act, 1995, the law only "provides for a mutawalli (manager) of a wakf and contains no provision for appointment of Imams of Wakf properties, even if a masjid".

4. Jan Dhan Yojana reflects poverty as 74% accounts hold zero balance

i. At least, 5.3 crore of the total 7.1 crore bank accounts opened under the Pradhan Mantri Jan-Dhan Yojana (PMJDY) have 'zero balance' even as the government has deposited Rs 5,400 crore in accounts under the scheme.
ii. out of 7.1 crore bank accounts opened, 5.3 crore had zero balance .
iii. PMJDY is a national mission for financial inclusion to ensure access to financial services like banking, savings and deposit accounts besides credit, insurance and pension.

5. India's first aircraft carrier slips into history

i. Work has begun on scrapping the country's first aircraft carrier, Vikrant.
ii.Built for the British Royal Navy as HMS Hercules in 1943, it was acquired by India in 1957 and saw action during the India-Pakistan war in 1971, playing a key role.

iii. Vikrant was auctioned to a ship-breaker for Rs 63 crore this year. Mumbai's IB Commercials Pvt Ltd won the bid.

6. Voting under way for 46 civic bodies in Rajasthan

i.  Nearly 43 per cent polling was recorded till 1pm in 46 civic bodies including six municipal corporations in Rajasthan where polling is under way today.
ii. Polling are being held in six municipal corporations of Jaipur, Kota, Jodhpur, Bikaner, Udaipur and Bharatpur, 18 municipal councils and 22 municipalities.
iii. Over 63.09 lakh electors are eligible to cast their votes at 6,135 polling booths in 1,680 wards.

7. Srinivasan seeks reinstatement as BCCI President

i. Cricket boss N Srinivasan today moved the Supreme Court seeking his reinstatement as BCCI President contending that there was "absolutely nothing" in the Justice Mukul Mudgal Committee report "incriminating" him in the IPL6 scam.
ii. Simultaneously, India Cements, the company of which he is the Managing Director, has also pleaded with the court not to pass any adverse order against the firm that could lead to cancellation of the franchise of Chennai Super Kings.

02:32 - By Unknown 0