Daily GK Updates: 27th August 2014

Daily GK Updates: 27th August 2014


1.    Supreme court: People facing criminal, corruption charges shouldn't be made ministers
i. Sending a strong message that people against whom criminal and corruption charges have been framed be not inducted as ministers, the Supreme Court today said Prime Minister and Chief Ministers should desist from making such appointments and act in “national interest“.

ii. A five-judge Constitution bench headed by Chief Justice RM Lodha, however, stopped short of prescribing disqualification for such people from becoming ministers, leaving it to the wisdom of the PM and CMs not to recommend such names to the President and Governor.
iii. Observing that it cannot add disqualification in Article 75 (1) (appointment of PM and Council of Ministers), the Bench, however, said that the PM and CMs should not consider people with criminal antecedents and against whom charges have been framed in serious offences, including corruption, for appointment as ministers.
iv. It further said that the Constitution reposes immense trust in the PM and CMs and they are expected to act with constitutional responsibility and morality.

2.    Mother Dairy, SBI launch 'SmartChange Card'
i. Dairy products major Mother Dairy and the State Bank of India today announced the launch of the 'SmartChange Card' for Mother Dairy booths in the National Capital Region.
ii. The card, introduced to facilitate convenience of payment has been rolled out 76 booths already and the company plans to expand coverage to 150 booths over the next three months.
iii. The card, priced at Rs. 25 at the time of issuance, will have a top up limit of Rs. 1,000 while the limit per transaction has been set at Rs. 500. Customers can use the card to shop for various items available at the booths, including milk and other dairy products, Safal products like fruit and vegetables and Dhara oil.

3.    C.S.Verma elected as First President of Indian Steel Association
i. C.S.Verma was elected as First President of Indian Steel Association (ISA). Other members of the ISA were Sajjan Jindal, Chairman & Managing Director, JSW, Mr. TV Narendran, MD, Tata Steel, , P Madhusudan, CMD, RINL.

About ISA : The Indian Steel Association was formally launched on 26 August 2014 by the Major domestic steel producers of India.

4.    Avia Indra-2014, the Indo-Russia maiden aerial exercise started
i. Indian Air Force (IAF) and Russian Federation Air Force (RFAF) Indo-Russian Air Force Exercise, Avia Indra-2014 at Astrakhan region, near the Caspian Sea in Russia.
ii. Avia Indra-2014 is the first Indo-Russia aerial exercise that involves the air forces of the two countries. The exercise will go on till 5 September 2014.
iii. The exercise is being conducted to boost cooperation between the air forces of two countries and involves aircraft like Su030MKI and Mi-17 helicopters.
iv.  It also involves fighter pilots, helicopter pilots, missile combat crew, as well as engineers from the IAF along with their counterparts of the RFAF.

5.    Reliance Jio Infocomm signed tower sharing deal with BSNL
i. Reliance Jio Infocomm (RJIL) on 26 August 2014 signed a deal with Bharat Sanchar Nigam Limited (BSNL) for sharing around 4000 mobile towers.
ii. Along with tower sharing deal, Reliance Jio signed Infrastructure sharing deal with Bharti Airtel, Viom Network, Ascend Telecom Infrastructure, Reliance Communications and American Tower Company to utilise their infrastructure.

6.    Mithali Raj Remains Number One Batswoman in ICC Rankings

i. India captain Mithali Raj has retained the top spot in the latest International Cricket Council (ICC) women's rankings for batters.
ii. Mithali maintained her reign on the top with scores of 34 and 30, respectively, to be the second-highest run-scorer for her side in the series India lost 2-0 in England.
iii. Her teammate Smriti Mandhana is the biggest mover on the table, jumping 23 places to a career-high 40th, following her knocks of 32 and 74.
iv. England captain Charlotte Edwards has jumped five places to second position after leading her side to a thumping victory over India in the opening round of the ICC Women's Championship.

7.    First private wildlife corridor to come up in M.P
i. With an aim to develop country’s first private wildlife corridor between Kanha and Pench Tiger Reserve, telecom major Vodafone and Grow-Trees.com will plant 3,00,000 saplings under its Corporate Social Responsibility (CSR) initiative.
ii. The company and Grow-Trees.com, the exclusive Indian planting partner for United Nation’s Environment Programme’s Billion Tree Campaign, today announced the launch of its joint initiative to create India’s first private wildlife corridor.
iii. “The corridor is being developed between Kanha-Pench Wildlife Reserve by planting 3,00,000 trees over a period of three years

10:27 - By Unknown 0

Daily GK Updates: 26th August 2014

Daily GK Updates: 26th August 2014


1.    Four new Governors appointed
i. Kalyan Singh has been appointed Governor of Rajasthan
ii. Vajubhai Rudabhai Vala appointed Governor of Karnataka
iii. Chennamaneni Vidyasagar Rao has been appointed Governor of Maharashtra and
iv. Mridula Sinha appointed Governor of Goa.
ii. Maharashtra Governor's post fell vacant yesterday when incumbent K Sankaranarayanan resigned after he was transferred to Mizoram.
iii. Post of the Governor of Karnataka has remained vacant since July end when former Law Minister H R Bhardwaj had completed his five year tenure while the post of Rajasthan Governor fell vacant after Margaret Alva completed her tenure early this month.
iv. Goa Governor's post fell vacant when former SPG chief B V Wanchoo resigned last month.

2.    Kerala Governor Sheila Dikshit resigns
i. Kerala Governor Sheila Dikshit tendered her resignation on Tuesday, a day after she met President Pranab Mukherjee and Home Minister Rajnath Singh.
ii. The former Delhi chief minister was appointed the Governor of Kerala by the UPA-II government about five months ago.
iii. Ms. Dikshit said she will speak on the issue only after she gets an official word on the acceptance of the resignation.

3.    EPFO retains interest rate on provident fund at 8.75%
i. Employees Provident Fund Organization (EPFO) has decided to retain interest rate on provident fund at 8.75 percent for the current fiscal.
ii. A decision in this regard was taken at the meeting of the Central Board of Trustees, the apex decision making body of the EPFO, in New Delhi today.

4.    Indian origin Seema Malhotra appointed as Shadow Minister in U.K.
i. Indian – Origin Seema Malhotra was appointed as Shadow Minister in U.K. on 25 August 2014. Seema Malhotra became the first MP from any party to be shadow Minister.
ii. She belonged to Labour Party. Labour Party appointed Seema Malhotra to tackle domestic violence and related issues and to prevent violence against women and girls.
iii. She will replace Helen Jones. Helen Jones resigned from the post of Shadow Minister in July 2014.

5.    Shiv Nadar gets ICSI award for corporate governance
i. Institute of Company Secretaries of India (ICSI) has bestowed the ICSI Life Time Achievement Award 2013 for Excellence in Corporate Governance to HCL Founder and Chairman Shiv Nadar.
ii. “HCL represents a culture of evolving globally acceptable standards of corporate governance. We are pleased to felicitate Nadar for his exemplary work in institution— building and good governance,” ICSI President CS R Sridharan said.

6.    Ranjan Ben Bhatta is BJP's candidate for Vadodara LS seat
i. BJP today announced the name of Vadodara deputy mayor Ranjan Ben Bhatta as its candidate for the Vadodara Lok Sabha seat vacated by Prime Minister Narendra Modi.
ii. The party also announced the name of local municipal corporator Suresh Patel as the candidate for the Maninagar Assembly constituency that Modi represented as Chief Minister of Gujarat.
iii. It was widely speculated that BJP President Amit Shah would be fielded from the seat, but Shah has decided not to contest keeping in view the responsibility entrusted upon him in steering the party.
iv. The party has also declared the name of local leader Prem Singh Shakya as the candidate for the Mainpuri Lok Sabha seat in Uttar Pradesh vacated by SP chief Mulayam Singh Yadav

10:24 - By Unknown 0

Important Banking Awareness Topics for IBPS PO IV and Clerks IV Online Exams

Important Banking Awareness Topics for IBPS PO IV and Clerks IV Online Exams



Here are some Important Basics you should know about Banking Awareness for upcoming IBPS PO and Clerks Online Exams. In this, we tried to cover almost all the basic terminology of banking awareness in simple language so that you can pick the synopsis in a single glance. It hardly will take 15 to 20 minutes to
complete reading this post. But we assure you that it helps you a lot. If you have time, you can refer to our complete short notes on Banking Awareness Here.

Bank Rate

Bank rate, also referred to as the discount rate, is the rate of interest which a central bank charges on the loans and advances that it extends to commercial banks and other financial intermediaries. Changes in the bank rate are often used by central banks to control the money supply.
Present Bank Rate –9%

Repo Rate
Repo rate is the rate at which our banks borrow rupees 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.
 Present Repo Rate - 8%

Reverse Repo Rate
This is exact opposite of Repo rate. Reverse Repo rate is the rate at which Reserve Bank of India (RBI) borrows money from banks. RBI uses this tool when it feels there is too much money floating in the banking system. Banks are always happy to lend money to RBI since their money is in safe hands with a good interest. An increase in Reverse repo rate can cause the banks to transfer more funds to RBI due to this attractive interest rates.
Present Reverse Repo Rate – 7%

CRR Rate
Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep 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.
Present CRR – 4%

SLR Rate
SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain in the form of cash, or gold or govt. approved securities (Bonds) before providing credit to its customers. SLR rate is determined and maintained by the RBI (Reserve Bank of India) in order to control the expansion of bank credit. SLR is determined as the percentage of total demand and percentage of time liabilities. Time Liabilities are the liabilities a commercial bank liable to pay to the customers on their anytime demand. SLR is used to control inflation and propel growth. Through SLR rate tuning the money supply in the system can be controlled efficiently.
Present SLR – 22%

Inflation
Inflation is as an increase in the price of bunch of Goods and services that projects the Indian economy. An increase in inflation figures occurs when there is an increase in the average level of prices in Goods and services. Inflation happens when there are fewer Goods and more buyers; this will result in increase in the price of Goods, since there is more demand and less supply of the goods.

Deflation
Deflation is the continuous decrease in prices of goods and services. Deflation occurs when the inflation rate becomes negative (below zero) and stays there for a longer period.

PLR
The Prime Interest Rate is the interest rate charged by banks to their most creditworthy customers (usually the most prominent and stable business customers). The rate is almost always the same amongst major banks. Adjustments to the prime rate are made by banks at the same time; although, the prime rate does not adjust on any regular basis. The Prime Rate is usually adjusted at the same time and in correlation to the adjustments of the Fed Funds Rate.  Some banks use the name "Reference Rate" or "Base Lending Rate" to refer to their Prime Lending Rate.

Deposit Rate
Interest Rates paid by a depository institution on the cash on deposit.

FII
FII (Foreign Institutional Investor) used to denote an investor, mostly in the form of an institution. An institution established outside India, which proposes to invest in Indian market, in other words buying Indian stocks. FII's generally buy in large volumes which has an impact on the stock markets. Institutional Investors includes pension funds, mutual funds, Insurance Companies, Banks, etc..

FDI
FDI (Foreign Direct Investment) occurs with the purchase of the “physical assets or a significant amount of ownership (stock) of a company in another country in order to gain a measure of management control” (Or) A foreign company having a stake in a Indian Company.

IPO
IPO is Initial Public Offering. This is the first offering of shares to the general public from a company wishes to list on the stock exchanges.

Disinvestment
The Selling of the government stake in public sector undertakings.

Fiscal Deficit
It is the difference between the government’s total receipts (excluding borrowings) and total expenditure. Present Fiscal Deficit is 5.3%

Revenue deficit
It defines that, where the net amount received (by taxes & other forms) fails to meet the predicted net amount to be received by the government

GDP
The Gross Domestic Product or GDP is a measure of all of the services and goods produced in a country over a specific period; classically a year.

GNP
Gross National Product is measured as GDP plus income of residents from investments made abroad minus income earned by foreigners in domestic market.


National Income
National Income is the money value of all goods and services produced in a country during the year.

Per Capita Income
The national income of a country, or region, divided by its population. Per capita income is often used to measure a country's standard of living.

Vote on Account
A vote-on account is basically a statement ,where the government presents an estimate of a sum required to meet the expenditure that it incurs during the first three to four months of an election financial year until a new government is in place, to keep the machinery running.

Difference between Vote on Account and Interim Budget
Vote-on-account deals only with the expenditure side of the government's budget, an interim Budget is a complete set of accounts, including both expenditure and receipts.

SDR
The SDR (Special Drawing Rights) is an artificial currency created by the IMF in 1969. SDRs are allocated to member countries and can be fully converted into international currencies so they serve as a supplement to the official foreign reserves of member countries. Its value is based on a basket of key international currencies (U.S. dollar, euro, yen and pound sterling).

SEZ
SEZ means Special Economic Zone is the one of the part of government’s policies in India. A special Economic zone is a geographical region that economic laws which are more liberal than the usual economic laws in the country. The basic motto behind this is to increase foreign investment, development of infrastructure, job opportunities and increase the income level of the people.

Corporate governance
The way in which a company is governed and how it deals with the various interests of its customers, shareholders, employees and society at large. Corporate governance is the set of processes, customs, policies, laws, and institutions affecting the way a corporation (or company) is directed, administered or controlled.Is defined as the general set of customs, regulations, habits, and laws that determine to what end a firm should be run.

RBI Functions
The Reserve Bank of India is the central bank of India, was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The commission submitted its report in the year 1926, though the bank was not set up for nine years.To regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage." Banker to the Government: performs merchant banking function for the central and the state governments; also acts as their banker.Banker to banks: maintains banking accounts of all scheduled banks.

Monetary policy
A Monetary policy is the process by which the government, central bank, of a country controls
(i)    the supply of money,
(ii)    availability of money, and
(iii)    cost of money or rate of interest,
In order to attain a set of objectives oriented towards the growth and stability of the economy.

Fiscal Policy
Fiscal policy is the use of government spending and revenue collection to influence the economy. These policies affect tax rates, interest rates and government spending, in an effort to control the economy. Fiscal policy is an additional method to determine public revenue and public expenditure.

Core Banking Solutions
Core banking is a general term used to describe the services provided by a group of networked bank branches. Bank customers may access their funds and other simple transactions from any of the member branch offices. It will cut down time, working simultaneously on different issues and increasing efficiency. The platform where communication technology and information technology are merged to suit core needs of banking is known as Core Banking Solutions.

Bank, its Features and Types
A bank is a financial organization where people deposit their money to keep it safe.Banks play an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner. Regional Rural Banks were established with an objective to ensure sufficient institutional credit for agriculture and other rural sectors. The RRBs mobilize financial resources from rural / semi-urban areas and grant loans and advances mostly to small and marginal farmers, agricultural labourers and rural artisans.
(i)                 The area of operation of RRBs is limited to the area as notified by GoI covering one or more districts in the State.
(ii)               ii. Banking services for individual customers is known as retail banking.
(iii)             iii. A bank that deals mostly in but international finance, long-term loans for companies and underwriting. Merchant banks do not provide regular banking services to the general public
(iv)             iv. Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank.
(v)               v. Mobile Banking is a service that allows you to do banking transactions on your mobile phone without making a call , using the SMS facility. Is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone.
(vi)             vi. Traditional banking is the normal bank accounts we have. Like, put your money in the bank and they act as a security and you will get only the normal interests (decided by RBI in our case, FED bank in US).
(vii)           vii. Investment banking is entirely different. Here, people who are having so much money (money in excess which will yield only less interest if in Banks) will invest their money and get higher returns. For example, If i have more money instead of taking the pain of investing in share market, buying properties etc. I will give to investment banks and they will do the money management and give me higher returns when compared to traditional banks.

E-Governance
E-Governance is the public sector’s use of information and communication technologies with the aim of improving information and service delivery, encouraging citizen participation in the decision-making process and making government more accountable,transparent and effective.

Right to information Act
The Right to Information act is a law enacted by the Parliament of India giving citizens of India access to records of the Central Government and State overnments.The Act applies to all States and Union Territories of India, except the State of Jammu and Kashmir - which is covered under a State-level law. This law was passed by Parliament on 15 June 2005 and came fully into force on 13 October 2005.

Credit Rating Agencies in India
The credit rating agencies in India mainly include ICRA and CRISIL. ICRA wasformerly referred to the Investment Information and Credit Rating Agency of India Limited. Their main function is to grade the different sector and companies in terms of performance and offer solutions for up gradation. The credit rating agencies in India mainly include ICRA and CRISIL(Credit Rating Information Services of India Limited)

Cheque
Cheque is a negotiable instrument instructing a Bank to pay a specific amount from a specified account held in the maker/depositor's name with that Bank.A bill of exchange drawn on a specified banker and payable on demand.“Written order directing a bank to pay money”.

Demand Draft
A demand draft is an instrument used for effecting transfer of money. It is a Negotiable Instrument. Cheque and Demand-Draft both are used for Transfer of money. You can 100% trust a DD. It is a banker's check. A check may be dishonored for lack of funds a DD can not. Cheque is written by an individual and Demand draft is issued by a bank. People believe banks more than individuals.

NBFC
A 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 shares/stock/bonds/debentures/securities issued by government, but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property.
NBFCs are doing functions akin to that of banks; however there are a few differences:
(i)                 (i)A NBFC cannot accept demand deposits (demand deposits are funds deposited at a depository institution that are payable on demand -- immediately or within a very short period -- like your current or savings accounts.)
(ii)               it is not a part of the payment and settlement system and as such cannot issue cheques to its customers; and
(iii)             Deposit insurance facility of DICGC is not available for NBFC depositors unlike in case of banks.

Diff between banking & Finance
Finance is generally related to all types of financial, this could be accounting, insurances and policies. Whereas banking is everything that happens in a bank only.The term Banking and Finance are two very different terms but are often associated together. These two terms are often used to denote services that a bank and other financial institutions provide to its customers.

NASSCOM
The National Association of Software and Services Companies (NASSCOM), the Indian chamber of commerce is a consortium that serves as an interface to the Indian software industry and Indian BPO industry. Maintaining close interaction with the Government of India in formulating National IT policies with specific focus on IT software and services maintaining a state of the art information database of IT software and services related activities for use of both the software developers as well as interested companies overseas.
Mr. Som Mittal – President
Chairman - M R Chandrasekaran

ASSOCHAM
The Associated Chambers of Commerce and Industry of India (ASSOCHAM), India's premier apex chamber covers a membership of over 2 lakh companies and professionals across the country. It was established in 1920 by promoter chambers, representing all regions of India. As an apex industry body, ASSOCHAM represents the interests of industry and trade, interfaces with Government on policy issues and interacts with counterpart international organizations to promote bilateral economic issues. President-Rana Kapoor

NABARD
NABARD was established by an act of Parliament on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC). It is one of the premiere agency to provide credit in rural areas. NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts.
Chariman - Harsh Kumar Bhanwala

SIDBI
The Small Industries Development Bank of India is a state-run bank aimed to aid the growth and development of micro, small and medium scale industries in India. Set up in 1990 through an act of parliament, it was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
Chairman - S Munhot

SENSEX and NIFTY
SENSEX is the short term for the words "Sensitive Index" and is associated with the Bombay (Mumbai) Stock Exchange (BSE). The SENSEX was first formed on 1-1-1986 and used the market capitalization of the 30 most traded stocks of BSE. Where as NSE has 50 most traded stocks of NSE. SENSEX IS THE INDEX OF BSE. AND NIFTY IS THE INDEX OF NSE. BOTH WILL SHOW DAILY TRADING MARKS. Sensex and Nifty both are an "index”. An index is basically an indicator it indicates whether most of the stocks have gone up or most of the stocks have gone down.

SEBI
SEBI is the regulator for the Securities Market in India. Originally set up by the Government of India in 1988, it acquired statutory form in 1992 with SEBI Act 1992 being passed by the Indian Parliament. Chaired by U.K. Sinha.

Mutual funds
Mutual funds are investment companies that pool money from investors at large and offer to sell and buy back its shares on a continuous basis and use the capital thus raised to invest in securities of different companies. The mutual fund will have a fund manager that trades the pooled money on a regular basis. The net proceeds or losses are then typically distributed to the investors annually.

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.

Non-perfoming assets
Non-performing assets, also called non-performing loans, are loans,made by a bank or finance company, on which repayments or interest payments are not being made on time. A debt obligation where the borrower has not paid any previously agreed upon interest and principal repayments to the designated lender for an extended period of time. The nonperforming asset is therefore not yielding any income to the lender in the form of principal and interest payments.

Recession
A true economic recession can only be confirmed if GDP (Gross Domestic Product)growth is negative for a period of two or more consecutive quarters.

Foreign exchange reserves
Foreign exchange reserves (also called Forex reserves) in a strict sense are only the foreign currency deposits and bonds held by central banks and monetary authorities.However, the term in popular usage commonly includes foreign exchange and gold,SDRs and IMF reserve positions.

IMF
The International Monetary Fund (IMF) is an international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rates and the balance of payments. It is an organization formed to stabilize international exchange rates and facilitate development.
MD - Christine Lagarde

23:55 - By Unknown 0

Daily GK Updates: 24 - 25th August 2014

Daily GK Updates: 24 - 25th August 2014


1.    Textiles Ministry, Flipkart join hands for handloom weavers

•  Textiles Ministry today inked a pact with homegrown e-retailing major Flipkart to provide an online marketing platform to handloom weavers across the country, an initiative to boost the handloom sector, empower the weavers and uplift manufacturing in the country.
•  Textiles Minister Santosh Gangwar, who was present on the occasion, emphasised that the focus of this association should be to help weavers and weaver entrepreneurs to produce products in tune with the buyer requirements and grow them significantly so that they may become manufacturers not only at a local but also at a national level.
•  This (MoU) will help us reach out to thousands of weavers across India... Through this initiative we are giving a direct platform to the weavers to reach out to the customers. There will be no middlemen.
•  The customer will get access to variety of products across India. Flipkart will help them (weavers) to list on the marketplace,” Ankit Nagori, Vice President—Marketplace at Flipkart.

2.    'Gandhi' filmmaker Richard Attenborough dies at 90 

i. Oscar-winning British filmmaker Richard Attenborough, renowned for his critically-acclaimed biopic on Mahatma Gandhi, has died at the age of 90.
ii. Lord Attenborough won an Academy Award for best director for 'Gandhi', one of many highlights of a distinguished career that spanned six decades, on both sides of the camera.
iii. One of Britain's leading actors before becoming a highly successful director, he appeared in films like 'Brighton Rock', World War II prisoner of war thriller 'The Great Escape' and later in blockbuster 'Jurassic Park' as a theme park developer.

3.    U.S. Open Tennis Championships begins today

i. The U.S. Open Tennis Championships begin today. Serena Williams, who opens her quest for a third successive US Open title with a meeting against fellow African American Taylor Townsend tomorrow, said Arthur Ashe would have been proud.
ii. On Arthur Ashe Kids' Day that drew legions of young hopefuls to the National Tennis Center on Saturday, Williams pondered the significance of her clash against the 18-year-old Townsend and the legacy of Ashe, whose name graces the center court stadium.

4.    Indira Sivasailam Endowment Award for T M. Krishna

i. Carnatic vocalist T. M. Krishna has been chosen for the fifth Indira Sivasailam Endowment Medal and Concert.
ii. The fifth Indira Sivasailam Endowment Concert will be held at The Music Academy in Chennai on September 25 during the Navaratri season.
iii. The artist is selected by a panel comprising members from the Endowments Committee of The Music Academy and Ms. Mallika Srinivasan (Chairman - TAFE Limited), daughter of late A. Sivasailam (Former Chairman - Amalgamations Limited) and late Indira Sivasailam.
iv. Every year, the Indira Sivasailam Endowment Fund recognizes an outstanding Carnatic musician based on an established set of criteria.

5.    Renewable energy award for GERMI director

i. Gandhinagar-based Gujarat Energy Research and Management Institute (GERMI) Director, Prof T Harinarayana has been conferred with “Energy and Environment Foundation Global Excellence Award-2014 in Renewable Energy Sector” on August 21.

6.    Maharashtra Gov K Sankaranarayanan quits

i. Maharashtra governor K Sankaranarayanan resigned from his office on 24 August 2014. He tendered his resignation in the backdrop of being transferred to Mizoram. He refused to take charge of his new assignment. His tenure would have ended in 2017.

7.    RN Ravi appointed new chief of Joint Intelligence Committee

i. Government has cleared the name of R N Ravi as the new chief of Joint Intelligence Committee, a body tasked to assess intelligence gathered by various intelligence agencies including IB and RAW
ii. Ravi, a 1976 batch IPS officer from Kerala, who retired in 2012 as Special Director of Intelligence Bureau, will hold the charge for next three years in the rank and pay of a Secretary to the Government. The JIC functions under the National Security Council Secretariat.

07:54 - By Unknown 0