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Thursday, 22 January 2015
Wednesday, 21 January 2015
Kisan Vikas Patra
Kisan Vikas Patra is a saving scheme that was announced by the Government of India that doubles the money invested in eight years and seven months. The Directorate of Small Savings Government of India, sells these saving bonds through all Post Offices in the country so that the scheme can be accessed by citizens from all over the country. A KVP can be encashed after two and a half years from the date of issue at the value it has been bought and the interest accrued for the period.
The “kisan” in Kisan Vikas Patra does not mean that only farmers can buy these saving certificates but means that the revenue mobilized by this scheme will be used by the Government of India in welfare schemes for farmers. Any individual can safely invest and save their money in the form of Kisan Vikas Patra.
How to Invest?
Kisan Vikas Patra can be purchased from any Post Office by filling a form and depositing the amount in cash or by cheques or demand drafts with the filed form and your photographs. The Post Office will issue a Certificate called Kisan Vikas Patra with your name, amount, date of maturity and amount on the date of maturity.
Who Can Invest?
You can invest in Kisan Vikas Patra if you are a citizen of India and an adult; in your own name, or on behalf of a
minor. A trust is also eligible to invest in KVP. Two adults can jointly buy KVP.
Who is not Eligible?
Kisan Vikas Patra is not for business entities such as a company or institutions. NRIs or HUF (Hindu Undivided Family) are also not eligible to invest in KVP.
Broad features of the new KVP
* Interest: 8.7 per cent.
* Tenure: eight years and four months (100 months).
* Investment doubles in 100 months.
* Minimum lock-in period two years and six months.
Liquidity
* Can be encashed in eight equal monthly instalments after the lock-in period
* Can be transferred to another person by endorsement and delivery
* Can also be given as collateral for loans by banks
* Minimum investment Rs.1,000. Thereafter, in denominations of Rs.5,000, Rs.10,000 and Rs.50,000. There is no
maximum limit.
* Taxability: fully taxable
* Mode of investment: cash or cheque
* Know your customer (KYC) norms: PAN not required but identity/address proof required
* Will be sold initially through post offices across the country, but later through some government-owned banks also.
Reaction of market on repo cut
The Reserve Bank of India (or RBI), India’s central bank, surprised the financial world by unexpectedly reducing its key interest rate.The RBI reduced the repo rate by 25 basis points (or bps)to 7.75% on January 15, 2015. One basis point is 1/100 of 1%, so 1% equals 100 bps. The repo rate is the rate at which the RBI lends money to Indian commercial banks. Changes in the rate also signal an increase or decrease in rates to commercial banks. A reduced rate by the central bank is cue for commercial banks to reduce their rates. It will lead to more money in the hands of the consumer and greater spending. It is a positive for the Indian economy.
1. Path of inflation:Since September 2014, prices of vegetables and fruits experienced a sharper-than-expected decline.The price of cereals experienced ebbing price pressures.International commodity prices, particularly crude oil, experienced a significant decrease.
2.Fiscal deficit target: Government's assurance of sticking to its fiscal deficit target of 4.1% in the current fiscal year.Reports from Finance Ministry reveals that all efforts were being made to ensure that the government does not default on the fiscal deficit target.
3.Inflation expectations: Households inflation expectations is in comfortable zone both near-term and longer-term and eased to single digits for the first time since September 2009. Inflation is below the targeted 8 per cent by January 2015. On current policy settings, inflation is likely to be below 6 per cent by January 2016,
Indian markets react to a reduction in India’s repo rate
Why the Reserve Bank of India cut the repo rate
The RBI monitors inflation closely, and it also keeps crude oil prices and food prices on its radar.A fall in both of these led the consumer price index (or CPI) inflation down in recent months.The CPI inflation for December 2014, which was released on January 12, 2015, showed a rise of 5.0% from a year ago. Although it rose from a 4.4% pace set in November 2014, it was below the RBI’s target of 8.0% by January 2015.Three reasons for inflation being lower than expected:
Aims to boost growth amid slowing inflation. Policymakers also signaled further monetary easing, depending on continuing disinflationary pressures, fiscal consolidation and supply constraints. Both Union Bank of India and Kolkata-based United Bank of India both cut their base rate, or the rate below which they cannot lend to borrowers, by 25 bps to 10%. Banks such as ICICI Bank (IBN) and HDFC Bank (HDB) can expect an increase in quantity of loans if they reduce their rates as well.the rate cut should also help corporates borrow cheaply, which should help lower their borrowing costs and increase their profits
In response to the move Indian stock markets welcomed the Reserve Bank of India’s (or RBI) move of reducing the repo rate by 25 basis points to 7.75%. Benchmark equity indices like the S&P BSE Sensex and the CNX Nifty ended the day up over 2.6% each. The S&P BSE Sensex had risen by 3.1% over its previous close before reducing some losses and ending at 28,075.5.This move may cause a reduction in interest rates on home loans and lower EMIs as well as more funds available to the builders.
It provide growth momentum to the market by injecting liquidity to the market.
Daily GK Update - 21st January 2015
1. Bibek Debroy joins as full time member of NITI Aayog
i. Noted economist Bibek Debroy today assumed charged as full time member of the NITI Ayog (National Institution for Transforming India). Government had announced the appointment of Debroy and DRDO chief V K Saraswat as full-time members earlier this month.
ii. An economist by profession, he was educated at the Presidency College (Calcutta), the Delhi School of Economics and the Trinity College (Cambridge).
iii. Debroy worked as a consultant in the Department of Economic Affairs in Finance Ministry.
iv. Debroy has also authored several books, papers and popular articles, and has been a Consulting Editor of some financial newspapers in the country.
2. India set to overtake China next year: IMF
i. 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.
ii. In a separate forecast, the United Nations World Economic Situation and Prospects UN WESP report too predicted a smart recovery for India during 2015.It pegged its 2015 India growth forecast lower than the IMF’s –at 5.9 per cent.
iii. At 6.3 per cent, the UNWESP 2016 India growth forecast is, however, closer to that of the IMF.
iv. The IMF said that global growth will receive a boost from lower oil prices, which reflect to an important extent higher supply in many advanced and emerging market economies.
3. Government to allocate 36 coal blocks to PSUs
i. The government today kick-started the process of allocating cancelled coal mines to state-owned firms, it will initially allot 36 blocks.
ii. Of these 36 coal blocks, one mine will be given to the steel sector while the rest will be given to the power sector.
iii. For schedule II (producing mines) category 23 blocks will be put on offer and the auction would be between February 14 and February 22.
iv. With regard to Schedule III mines (ready to produce mines) he said another set of 23 mines will be auctioned between February 25 and March 5.
4. EU decided to lift ban on import of mangoes from India
i. European Union (EU) decided to lift a seven-month-long ban on the import of mangoes from India. The proposal to lift the ban was voted unanimously by the European Commission’s standing committee on plant health.
ii. The decision to lift the ban was made after India, the world’s biggest producer of Mangoes made significant improvements in plant health controls and certification system.
iii. European Union issued a temporary ban on import of Indian mangoes on 1 May 2014 after fruit flies and other quarantine pests were found in 207 consignments. The consignment infested with fruit flies were found by authorities in Brussels. The ban was supposed to be effective till December 2015.
iv. EU accounts to almost 50% of the total exports of fruits and vegetables from India, UK is the top exporter.
5. India world's second-most trusted nation: Survey
i. India has emerged as the second-most trusted country in the world in terms of faith reposed on its institutions even as globally trust levels have fallen, says a survey.
ii. Trust in institutions in India has improved sharply in 2015 with the country moving up three notches to the second place among 27 nations.
iii. While the number of "truster" countries are at an all-time low of six in 2015 including UAE, India, China and Netherlands, the number of "distruster" countries has grown significantly to 13 including Japan, Russia, Hong Kong, South Africa and Italy.
iv. The list is topped by UAE with 84 per cent trust. India (79 percent),Indonesia (78 per cent), China (75 per cent), Singapore (65 per cent) and Netherlands (64 per cent) are the others that have recorded highest levels of trust.
6. 2015 World Economic Forum Annual Meeting
i. The 45th World Economic Forum kick started in Davos,Switzerland today.
ii. Ahead of the start of its annual meeting in Davos on Tuesday, the WEF published 14 measures of inclusive growth as it responded to criticism that the gathering of 2,500 business leaders, academic and policymakers has become an exercise in hand-wringing about the gap between rich and poor.
iii. Christine Lagarde, the managing director of the IMF, Pope Francis, Jim Kim, the president of the World Bank and Mark Carney, the governor of the Bank of England, are among those who have stressed the need to ensure that the fruits of economic progress are shared more equally. Carney will be taking part in a panel in Davos this week titled: “A richer world but for whom”.
POSSIBLE QUESTIONS FOR SBI ASSOCIATE CLK
1) Name the Capital city of Iraq? - Baghdad
2) P V Sindhu recently won the Macau Badminton Grand Prix Gold trophy after defeating whom? -
Kim Hyo Min of Korea
3) What is the full form of CFL? - Compact Fluorescent Lamp
4) Which among following is an image name extension? - gif
5) Currency of Vatican City? - Euro
6) Which player was recently honoured with the Asian Football Confederation's Hall of Fame Award? - Baichung Bhutia
7) Prime Minister Narendra Modi recently flagged off the first train to which North Indian state? - Meghalaya
8) If a computer has more than one processor then it is known as? - Multiprocessor
9) 'Mary Kom' movie produced by Sanjay Leela Bhansali was written by? - Saiwyn Quadras
10) National Milk Day was celebrated on? - 26 November
11) 18th SAARC Summit was recently held at? - Nepal
12) Union Minister of Power, Coal and New & Renewable Energy? - Piyush Goyal
13) Rohan Bopanna is related to which sport? - Tennis
14) In which of the following form, data is stored in computer? - Binary
15) Which line divides America and Canada? - 49th parallel
16) Which film won Golden Peacock Award at IFFI 2014? - Leviathan (Russian Film)
17) Name the mascot for the 2016 European football championship? - Super Victor
18) Documents, Movies, Images and Photographs etc are stored at a? - File Server
19) Who won the FIFA Ballon d'Or award recently? - Cristiano Ronaldo
20) Which country is called Land of morning calm? - South Korea
21) What is full form of GUI in terms of computers? - Graphical user Interface
22) Which of following is used in RAM? - Semi Conductor
23) Nalanda University is located in which state? - Bihar
24) Who is the chairman of committee related to Gas pricing? -Vijay Kelkar
25) Who recently became the first bowler in history to claim a hat-trick on his debut in one-day
cricket? - Taijul Islam of Bangladesh
*****************************************************************
2) P V Sindhu recently won the Macau Badminton Grand Prix Gold trophy after defeating whom? -
Kim Hyo Min of Korea
3) What is the full form of CFL? - Compact Fluorescent Lamp
4) Which among following is an image name extension? - gif
5) Currency of Vatican City? - Euro
6) Which player was recently honoured with the Asian Football Confederation's Hall of Fame Award? - Baichung Bhutia
7) Prime Minister Narendra Modi recently flagged off the first train to which North Indian state? - Meghalaya
8) If a computer has more than one processor then it is known as? - Multiprocessor
9) 'Mary Kom' movie produced by Sanjay Leela Bhansali was written by? - Saiwyn Quadras
10) National Milk Day was celebrated on? - 26 November
11) 18th SAARC Summit was recently held at? - Nepal
12) Union Minister of Power, Coal and New & Renewable Energy? - Piyush Goyal
13) Rohan Bopanna is related to which sport? - Tennis
14) In which of the following form, data is stored in computer? - Binary
15) Which line divides America and Canada? - 49th parallel
16) Which film won Golden Peacock Award at IFFI 2014? - Leviathan (Russian Film)
17) Name the mascot for the 2016 European football championship? - Super Victor
18) Documents, Movies, Images and Photographs etc are stored at a? - File Server
19) Who won the FIFA Ballon d'Or award recently? - Cristiano Ronaldo
20) Which country is called Land of morning calm? - South Korea
21) What is full form of GUI in terms of computers? - Graphical user Interface
22) Which of following is used in RAM? - Semi Conductor
23) Nalanda University is located in which state? - Bihar
24) Who is the chairman of committee related to Gas pricing? -Vijay Kelkar
25) Who recently became the first bowler in history to claim a hat-trick on his debut in one-day
cricket? - Taijul Islam of Bangladesh
*****************************************************************
GK Questions asked in NIACL Assistant Exam - 18th January 2015(Morning Shift)
We are providing you the GK questions asked in the today's NIACL asst. exam (18th January 2015-Morning Shift).
- Gandhi setu connects which places? - Patna and Hajipur
- Union minister for heavy industries - Anant Geete
- Ankita raina belongs to which sport - Tennis
- PIO fulform - Person of indian origin
- Mission indradhanush covers how much diseases ? - 7
- Next NATO summit place ? - Warsaw
- Abu Dabhi tennis championship winner ? - Andy Murray
- Patrick Modiano got novel in which field ? - Literature
- Population of female a/c to census ? - 586.46 million
- Vienna is the capital of? - Austria
- ILO headquarter - Geneva
- Minimum capital required for white label ATMs' - 100 Crore
- NITI ayog chairman - Narendra Modi
- Commodity market regulator - FMC
- DICGC is owned by - RBI
- Vanbandhu kalyan yojna is for - Tribal peoples
- 3rd Sunday of January is celebrated in memory of - Martin Luther King Jr.
- Why RBI increse interest rates - To increase liquidity
Daily GK Update - 20th January 2015
1. Jaipur Literature Festival all set to begin
i. The eighth edition of the ZEE Jaipur Literature Festival is all set to open on 21st January 2015. The event, which is now the world’s largest free literary festival, will see a galaxy of literary and musical stars come together for a vibrant celebration of creative expression.
ii. To be inaugurated by the Chief Minister Vasundhara Raje, the event is seen as an agenda-setter on key issues from the global economic crisis to the rise of e-books, the current state of politics in the Middle East to the increasing importance of Indian language publishing.
iii. This year the Festival will look at gender equity in India in a series titled `Women Uninterrupted', supported by UN Women to mark the 20th anniversary of the Beijing Conference on Gender, leading up to the world summit at the UN this September, as well as `The Seven Deadly Sins' that polarize society.
2. Hyderabad to host World Congress on Information Technology in 2018
i. Hyderabad will host the World Congress on Information Technology (WCIT) in 2018. This will be the first WCIT to be held in India and the theme of the 2018 WCIT will be Future of enterprises.
ii. As part of this, the Chief Minister of Telangana K Chandrasekhar Rao would visit the US, the UK and other countries to invite the bigwigs of the IT industry to the 2018 event.
iii. WCIT 2016 is to be held in Brazil.
In 2014, the 19th WCIT was held in Guadalajara in Mexico. The theme was Building the Digital Age Together.
The first WCIT was held in 1978 and it is held since then every two years.
3. India’s growth to reach 6.3 per cent in 2016: UN WESP report
i. According to the United Nations World Economic Situation and Prospects (WESP) 2015 report, India’s growth in terms of GDP is expected to reach 5.9 per cent in 2015 and 6.3 per cent in 2016.
ii. India's growth recovery is partly the result of improved market sentiment after the new government took office in the second quarter of 2014 and had announced plans to reform the bureaucracy, labour laws and public subsidies.
About United Nations World Economic Situation and Prospects (WESP) report
This report is published at the beginning of each year by the combined efforts of
- UN Department of Economic and Social Affairs.
- UN Conference on Trade and Development (UNCTAD).
- 5 UN regional commissions.
- World Tourism Organisation (UNWTO).
4. Singapore's GIC to invest Rs 1,020 crore in Bandhan Financial Services
i. Singapore's sovereign wealth fund GIC is investing 10.2 billion rupees ($165.5 million) in India's Bandhan Financial Services, which is setting up one of the country's two newest banks
ii. The company will get a total equity investment of 16 billion rupees, including 5.8 billion rupees from existing investor IFC
iii. IFC, part of the World Bank Group, owns 10.8 percent of Bandhan and its stake will increase after the latest investment.
iv. Bandhan and IDFC were the only two companies which won bank permits from the central bank last year in what was the first bank licensing process in a decade.
5. Shubham, 13, Silicon Valley’s youngest entrepreneur, develops Braille printer
In Silicon Valley, it’s never too early to become an entrepreneur. Just ask 13-year-old Shubham Banerjee.
i. The California eighth-grader has launched a company to develop low-cost machines to print Braille. Tech giant Intel Corp. recently invested in his start-up, Braigo Labs.
ii. Mr. Shubham wants to develop a desktop Braille printer that costs around $350 and weighs just a few kilograms, compared with current models that can weigh more than nine kilograms.
iii. The machine could be used to print Braille reading materials on paper, using raised dots instead of ink, from a personal computer or electronic device.
6. Twitter buys Indian mobile marketing start-up ZipDial
i. Twitter Inc said it will buy Indian mobile phone marketing start-up ZipDial, reportedly for $30 million to $40 million, as the U.S. microblogging service looks to expand in the world's second-biggest mobile market.
ii. Bengaluru-based ZipDial gives clients phone numbers for use in marketing campaigns. The start-up's clients include International Business Machines Corp, Yum! Brands Inc's KFC and Procter & Gamble Co 's Gillette.
This acquisition significantly increases our investment in India, one of the countries where we're seeing great growth,' Twitter said
iii. The service capitalises on a local tradition of communicating through so-called missed calls.
7. Filmmaker Pahlaj Nihalani appointed as chairperson of CBFC
i. Union Government has reconstituted Central Board of Film Certification (CBFC). In this regard, government has appointed 1 chairperson and 9 board members.
ii. Pahlaj Nihalani was appointed chairperson. He will be office in for a period of three years or until further orders, whichever is earlier.
iii. 9 Members are: BJP leader Vani Tripathi Tikoo, filmmakers Ashoke Pandit and Chandra Prakash Dwivedi, film writer Mihir Bhuta, Syed Abdul Bari, Ramesh Patange, actor George Baker, actor-filmmaker Jeevitha and actor- playwright S Ve Shekhar.
8. Former PM Manmohan Singh adopted Pachim Bekeli Gaon Panchyat
i. Former Prime Minister Manmohan Singh adopted Pachim Bekeli Gaon Panchyat under Sansad Adarsh Gram Yojna (SAGY). Pachim Bekeli Gaon Panchyat is located in Kamrup district of Assam.
ii. Manmohan Singh represents Assam in the Rajya Sabha.
Sansad Adarsh Gram Yojana aims to cover 2500 villages by 2019. Under the project, each Member of Parliament (MP) will take up the responsibility of providing infrastructure and developing three villages by 2019.
iii. The objective of the project is to create a holistic development of all adopted villages by the MPs in all aspects —human, personal, social, economic and environmental development, including provision of basic amenities, services, security and good governance.
9. TCS ends RIL's 23-year run as most profitable firm
After 23 years, India has a new numero uno when it comes to net profit
i. Information technology major Tata Consultancy Services (TCS) posted a net profit of Rs 5,328 crore for the quarter ended December, overtaking long-standing champion Reliance Industries Ltd.
ii. In Indian business history it's the first time that an IT company has topped the profit charts.
iii. TCS has also become the world's third largest employer of people in the technology sector, with over 3 lakh employees. And given the pace at which it is growing, it could become the second largest employer this year, crossing Hewlett-Packard, and would be fast closing in on leader IBM.
Best of Interview Experiences - 19th January 2015
Hello students..
Here are some Interview Experiences shared with us by our readers. You can have a look at them and prepare accordingly..!!
# INTERVIEW EXPERIENCE 1
Interview experience: 19 Jan - Syndicate bank learning centre, bangalore.
Panel I- 8.30am
Document verification done by 9.30am
, interview at 10am
1 Lady, 5 Gentlemen
Greetings to all of them in opening, was asked to take seat
M1: So Mayur, tell me about yourself and family in short within 2 minutes
me: Explained
M1: You are a BE and worked in IT. Why did you opt for banking as career?
me: While working I realized that my motivation was to serve in government sector and banking because I think banks are the building blocks of our economy. We help people stand on their feet, we help the business grow and also we help social causes.
M2: So you are from Belgaum, tell me something about your city
me: Belgaum is famous for kunda, it is also called sugar bowl of karnataka due to favorable conditions for sugarcane growth, also the suvarna soudha assembly is established recently, so that makes it the second capital of karnataka
M3: Tell me something about swachha bharat abhiyan
me: Explained
M3: If you are posted in some place , what role would you play as a banker?
me: Will provide loans for sanitation projects
M3: Good
M4: You have done engineering in communications, tell me what is GPS
me: Explained.
M4:Good
M4: What is GPRS
me: Explained
M4: Good
M4: Recently, there is decrease in global fuel prices, what is the reason?
me: Sir, this is in competition to USA and the aim for reduction is to make the production of Shale gas economically unviable.
M4:
Good. This is the main reasons, apart from that there are some other
reasons too. It is also about demand and supply, can you think?
me:
Sir, they have increased the supply and i think thats profitable to
them as emerging economies are ever demanding in fossil fuels
M4:Actually the demand has decreased, due to other forms of energy in USA. So they want to supply more to encourage them to buy more by reduced prices.
me: Kept saying ok as he explained.
M5: What is banking?
me:Business of lending money and accepting deposits from the public. Primary motive is profit, but apart from that, social initiatives is also a major role
M5: what is profits?
me: Interests earned by the bank on loans , and also through government securities, treasury bills
M3: You have mentioned only about interests earned on money, but apart from that, is there any other activity which banks do?
me:
Insurance is one sector where banks are pioneering, RBI has also been
liberal to banks recently to increase insurance penetration.
M5: Good
Lady: What are the different types of deposits in bank?
me:Current account, savings account, FD, RD. Current Ac are for
businessmen and entrepreneurs. Savings are general public. Banks don't pay interest in Current account. In savings accounts, operating cost is not so high, so banks pay interest to depositors. FD are where we park money for a certain period and interest in given on maturity
M2: Do you know to read, write and speak kannada?
me:I can read and speak fluently, but not so fluent in writing. I can
write a few letters. Even though my mother tongue is kannada, I have done my entire education in maharashtra so I am not so fluent at it.
M4: In form you have not mentioned hindi, are you not comfortable? If you are posted to northern states, how will you manage?
me: Sir ,In the form there was option for only 3 languages so i filled up english, marathi and kannada. But I am fluent in hindi, so I am comfortable anywhere
M1: You resigned 2 years back, so what were you doing till now?
me: I was preparing for various competitive exams.
M1: Like?
me: All bank exams, SSC, UPSC
M1: Is this your first interview or attended any other?
me: Attended SBI clerical.
M1: Results?
me: Not yet declared
M1: what was you score there?
me: Sir they didnt disclose
M1: What about scores in IBPS PO
me: Sir, that too is not disclosed
M4: Cut off is 80 right?
me: Yes sir.
They look at each other and say thats all, thank you
They offer me a mango bite and said dont be nervous, be comfortable. I accepted and said thanks
They wished all the best . I said thanks to all members once again and walk out of the room.
Hope this gives some input to you fellow candidates. Wish you all the best for your interviews
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
# INTERVIEW EXPERIENCE 2
My interview was scheduled on 19th Jan 2015 @ Andhra Bank HO Hyderabad, under panel III with start time at 8:30
I reached the venue around 8:35 am, after completing the formal security
check, i entered the seminar hall in the ground floor. Within 2 minutes my name was called out for verification, i have submitted all copies of my Graduation and then they have asked for semester wise photo copies of mark sheets, few of which were missing. i was shocked and no clue of what to do but they kept calm and guided me to get the copies from one of their xerox machines on other floors. After clearing the verification i was told to wait for the interview..
2-5 minutes of waiting went by with each second proceeding towards nervous break down and one of the bank employee adviced me to stay calm and cool as HR Team were also new and had no much experience in Interviews, then bell rang and i took a march into the interview hall......now the story starts
There were 5 male members and 1 female member in the panel all aged around 45-60 with smiles around their faces.
After Greeting and well wishes the interview started with Female (F) interviewer
F: Recently one cyclone Hudhud, hit one part of India...can you tell me what is meant by Hudhud?
Myself(M): Vizag is the place which was tormented by this Cyclone and Hudhud is the name of National Bird of some country, Hudhud has incurred huge losses to live stock etc etc.
F: Can you give me that Country name?
M: I Gently replied that i don't have any idea, but it might be from Russia but not sure. (Ans is Israel)
M1: Seeing my details and discovering that i am already an employee at a private firm. He asked, " Why Engineers like you want to get employed in banking sector"?
M: I supported by saying that Banking is a huge industry where we can utilize our knowledge in diverse operations of Banking in various levels starting all the way from clerical, PO, Asst. Manager, Manager and finally Governor. these days banks are not places where just transactions are made, it involves mutual handing of clients, rural and urban customers, complaints along with the operations which includes sustainability along with competition and moreover banks are conducting exams for specialist officers which indirectly means that engineers have a definite place in banking industry too.
M2: Why only engineering candidates, why not others?
M: Sir, Its not about Engineering at the end of the day knowledge, talent and wisdom is all that matters but when observed from competition point of view Engineers can use their domain knowledge and can be used as an additional advantage over non professional degrees...where i gave few examples to support myself.
M3: Recently India accomplished one grand achievement in space arena, what is it?
M: Sir, its MOM, ISRO has surpassed NASA's expectations and is the only Organization which has higher success rate when compared with other countries space agencies. Till now MOM has collected lots of data which will be useful for research purposes and finding the life on.........(M3 interrupted, What is the full from of MOM?)
Sir, Its Mars Orbiter Mission but with lacking confidence. (as i was confused where Mars will come first M or last M)
M4: MOM is also known by other name, do you have any idea?
M: Sir, is this official name or unofficial name?
M4: Unofficial but many are using it, it is a Sanskrit word.
M: Mission Mangalyaan, Sir.
M5: How many ATM's are there in INDIA?
M: i said that i don't know the exact number but might be 80,000+.
M5: There are around 1.6 Lakh ATM's
M: Thank you, sir
M6: What happened buddy, Engineering students should ans this qtn!!
M: i just smiled.
M7: Total No. of Deputy Governors in RBI?
M: 4
M7: Who is the last appointed Deputy Governor?
M: R.Ghandhi (But later found that ans was different)
Thank you, you can leave smile emoticon
M: I thanked everyone and left.
Let's see what will happen, will happen!!
NOTE: Thanks to our readers who shared these valuable experiences with us.. We hope that these will help the candidates who have their Interviews in the coming days..!!
Daily GK Update - 18th - 19th January 2015
1. Mukherjee launches Pulse Polio Immunization Programme
i. President Pranab Mukherjee launched the Pulse Polio Immunization Programme by administering polio drops to children at Rashtrapati Bhavan.
ii. The National Immunization Day was held on 18th Jannuary when children under 5 years age were given polio drops as part of the Government's drive to sustain polio eradication from the region.
iii. India has been implementing the Pulse Polio Programme since 1995.
iv. In India, the last case of wild polio was reported on January 13, 2011. The South-East Asia region of WHO has been certified on March 27, 2014 as "polio free", meaning that transmission of wild poliovirus has been interrupted in this block of 11 countries including India, Bangladesh, Bhutan, Democratic People’s Republic of Korea, Indonesia, Maldives, Myanmar, Nepal, Sri Lanka, Thailand and Timor-Leste for the last three years.
2. Manjul Bhargava to lead Prime Minister Narendra Modi’s teach in India programme
i. Fields medallist Manjul Bhargava will be the face and facilitator of Prime Minister Narendra Modi's pet education project to rope in eminent scholars and scientists abroad to teach students at IITs and central universities.
ii. Bhargava, who is the first person of Indian origin to win the coveted international prize for his work in mathematics agreed to 'recruit' scientists in the US and across the world to participate in the Global Initiative of Academic network (GIAN), a shortterm teaching programme under which scholars abroad will be invited to teach in India.
iii. GIAN is Prime Minister Narendra Modi's brainchild. The project is expected to figure once again on the Indian agenda when Obama arrives here.
3. Twitter ropes in Taranjeet Singh to head business in India
i. Microblogging site Twitter has hired Taranjeet Singh as business head for its operations in India.
ii. Singh will responsible for increasing commercial opportunities for Twitter and work closely with brands and agencies to maximise the value of real-time marketing for live public conversations.
iii. Taranjeet has more than 19 years of sales and business development experience. He was previously sales director of South Asia for BBC Advertising.
4. 24 Children, including 8 girls selected for National Bravery Awards
i. Four of the awards have been given posthumously. The children will receive their awards from Prime Minister Narendra Modi on the 24th of January, and will also participate in the Republic Day parade.
ii. 16 year old Resham Fatma of Uttar Pradesh, a victim of Acid attack, will be conferred the Bharat Award for showing exemplary courage while fighting off her tormentor, whose marriage proposal she had turned down.
iii. The prestigious Geeta Chopra Award has been conferred on 13 year old Gunjan Sharma of Assam who displayed exemplary valor in saving her friends from the clutches of the abductor.
iv. The Sanjay Chopra Award has been given to 16 year old Master Devesh Kumar of Uttar Pradesh who displayed outstanding courage while confronting two chain-snatchers.
5. PSU bank employees to hold 4-day strike from Jan 21 on wage revision issue
i. Public sector bank (PSB) employees have decided to go on a 4-day strike from January 21 to protest against the "rigid and callous attitude" of Central Government in resolving the long pending wage revision issue.
ii. The decision is in response to the strike call given by United Forum Of Bank Unions, which has more than ten lakh employees and officers of banking Industry under its umbrella.
iii. The wage revision for bank employees is due from November one, 2012
6. Indian-American Frank Islam receives Martin Luther award
i. An eminent Indian-American entrepreneur and philanthropist Frank Islam has been presented with the prestigious Martin Luther King Jr. Award.
ii. He is awarded in recognition of his contribution to the legacy of the great leader through his efforts in international service and civil engagement.
iii. The award, which carries the name of Martin Luther King Jr., an apostle of peace, is about building bridges between humanity.
iv. The award was presented to Islam by Harry Johnson, president of the Memorial Foundation Inc. and one of the honorary vice chairs of the event, which was held at Willard Intercontinental.
7. Telecom Commission clears Rs 3700-cr base price for 2,100-MHz
i. The Telecom Commission (TC) approved a base price of Rs 3,700 crore for each MHz of 2,100-MHz spectrum to be auctioned on February 25.
ii. The final reserve price is 36 per cent higher than the Rs 2,720 crore recommended by the Telecom Regulatory Authority of India (TRAI).
iii. The previous Telecom auction was cancelled amid the speculation of bad and crony practices in the bandwidth allocation.
8. Kudankulam Nuclear Plant Restarts Power Generation
i. Power generation at the Kudankulam Nuclear Power Project (KNPP) has restarted after the first unit's reactor and turbine tripped on January 14, said Power System Operation Corporation Ltd. (POSCO).
ii. India's atomic power plant operator Nuclear Power Corporation of India Ltd. (NPCIL) is setting up two 1,000 MW Russian reactors at Kudankulam in Tirunelveli district, 650 km from Chennai.
iii. Ever since the first unit at KNPP started commercial generation December 31, 2014 it has been producing around 940 MW per day or around 2.25 crore units per day.
9. AB de Villiers: South Africa batsman smashes century record
i. South Africa batsman AB de Villiers hit a century off 31 balls to record the fastest ever one-day international ton.
ii. De Villiers, 30, set the new landmark during an innings of 149 against the West Indies in Johannesburg.
iii. He smashed nine fours and 16 sixes in beating the previous ODI record of 36 balls by New Zealand all-rounder Corey Anderson against West Indies last year.
iv.South Africa scored 439-2 as they registered their highest ever ODI score, beating the 438-9 in a win against Australia in March 2006.
10. Sydney Open 2015 Winners
i. Czech Petra Kvitova beats compatriot Karolina Pliskova to win the Women's Sydney International.
ii. The world No.4 and second seed needed to win two tie-breakers to clinch victory over her team mate in a big hitting contest at the Ken Rosewell Arena.
iii. While in the Men's section, Viktor Troicki crushed fellow qualifier Mikhail Kukushkin 6-2, 6-3 in the final of the Sydney International.
iv. In the first ATP final in history featuring two qualifiers, Troicki dispatched Kukushkin in 64 minutes after breaking the Kazakh twice in each set.
i. President Pranab Mukherjee launched the Pulse Polio Immunization Programme by administering polio drops to children at Rashtrapati Bhavan.
ii. The National Immunization Day was held on 18th Jannuary when children under 5 years age were given polio drops as part of the Government's drive to sustain polio eradication from the region.
iii. India has been implementing the Pulse Polio Programme since 1995.
iv. In India, the last case of wild polio was reported on January 13, 2011. The South-East Asia region of WHO has been certified on March 27, 2014 as "polio free", meaning that transmission of wild poliovirus has been interrupted in this block of 11 countries including India, Bangladesh, Bhutan, Democratic People’s Republic of Korea, Indonesia, Maldives, Myanmar, Nepal, Sri Lanka, Thailand and Timor-Leste for the last three years.
2. Manjul Bhargava to lead Prime Minister Narendra Modi’s teach in India programme
i. Fields medallist Manjul Bhargava will be the face and facilitator of Prime Minister Narendra Modi's pet education project to rope in eminent scholars and scientists abroad to teach students at IITs and central universities.
ii. Bhargava, who is the first person of Indian origin to win the coveted international prize for his work in mathematics agreed to 'recruit' scientists in the US and across the world to participate in the Global Initiative of Academic network (GIAN), a shortterm teaching programme under which scholars abroad will be invited to teach in India.
iii. GIAN is Prime Minister Narendra Modi's brainchild. The project is expected to figure once again on the Indian agenda when Obama arrives here.
3. Twitter ropes in Taranjeet Singh to head business in India
i. Microblogging site Twitter has hired Taranjeet Singh as business head for its operations in India.
ii. Singh will responsible for increasing commercial opportunities for Twitter and work closely with brands and agencies to maximise the value of real-time marketing for live public conversations.
iii. Taranjeet has more than 19 years of sales and business development experience. He was previously sales director of South Asia for BBC Advertising.
4. 24 Children, including 8 girls selected for National Bravery Awards
i. Four of the awards have been given posthumously. The children will receive their awards from Prime Minister Narendra Modi on the 24th of January, and will also participate in the Republic Day parade.
ii. 16 year old Resham Fatma of Uttar Pradesh, a victim of Acid attack, will be conferred the Bharat Award for showing exemplary courage while fighting off her tormentor, whose marriage proposal she had turned down.
iii. The prestigious Geeta Chopra Award has been conferred on 13 year old Gunjan Sharma of Assam who displayed exemplary valor in saving her friends from the clutches of the abductor.
iv. The Sanjay Chopra Award has been given to 16 year old Master Devesh Kumar of Uttar Pradesh who displayed outstanding courage while confronting two chain-snatchers.
5. PSU bank employees to hold 4-day strike from Jan 21 on wage revision issue
i. Public sector bank (PSB) employees have decided to go on a 4-day strike from January 21 to protest against the "rigid and callous attitude" of Central Government in resolving the long pending wage revision issue.
ii. The decision is in response to the strike call given by United Forum Of Bank Unions, which has more than ten lakh employees and officers of banking Industry under its umbrella.
iii. The wage revision for bank employees is due from November one, 2012
6. Indian-American Frank Islam receives Martin Luther award
i. An eminent Indian-American entrepreneur and philanthropist Frank Islam has been presented with the prestigious Martin Luther King Jr. Award.
ii. He is awarded in recognition of his contribution to the legacy of the great leader through his efforts in international service and civil engagement.
iii. The award, which carries the name of Martin Luther King Jr., an apostle of peace, is about building bridges between humanity.
iv. The award was presented to Islam by Harry Johnson, president of the Memorial Foundation Inc. and one of the honorary vice chairs of the event, which was held at Willard Intercontinental.
7. Telecom Commission clears Rs 3700-cr base price for 2,100-MHz
i. The Telecom Commission (TC) approved a base price of Rs 3,700 crore for each MHz of 2,100-MHz spectrum to be auctioned on February 25.
ii. The final reserve price is 36 per cent higher than the Rs 2,720 crore recommended by the Telecom Regulatory Authority of India (TRAI).
iii. The previous Telecom auction was cancelled amid the speculation of bad and crony practices in the bandwidth allocation.
8. Kudankulam Nuclear Plant Restarts Power Generation
i. Power generation at the Kudankulam Nuclear Power Project (KNPP) has restarted after the first unit's reactor and turbine tripped on January 14, said Power System Operation Corporation Ltd. (POSCO).
ii. India's atomic power plant operator Nuclear Power Corporation of India Ltd. (NPCIL) is setting up two 1,000 MW Russian reactors at Kudankulam in Tirunelveli district, 650 km from Chennai.
iii. Ever since the first unit at KNPP started commercial generation December 31, 2014 it has been producing around 940 MW per day or around 2.25 crore units per day.
9. AB de Villiers: South Africa batsman smashes century record
i. South Africa batsman AB de Villiers hit a century off 31 balls to record the fastest ever one-day international ton.
ii. De Villiers, 30, set the new landmark during an innings of 149 against the West Indies in Johannesburg.
iii. He smashed nine fours and 16 sixes in beating the previous ODI record of 36 balls by New Zealand all-rounder Corey Anderson against West Indies last year.
iv.South Africa scored 439-2 as they registered their highest ever ODI score, beating the 438-9 in a win against Australia in March 2006.
10. Sydney Open 2015 Winners
i. Czech Petra Kvitova beats compatriot Karolina Pliskova to win the Women's Sydney International.
ii. The world No.4 and second seed needed to win two tie-breakers to clinch victory over her team mate in a big hitting contest at the Ken Rosewell Arena.
iii. While in the Men's section, Viktor Troicki crushed fellow qualifier Mikhail Kukushkin 6-2, 6-3 in the final of the Sydney International.
iv. In the first ATP final in history featuring two qualifiers, Troicki dispatched Kukushkin in 64 minutes after breaking the Kazakh twice in each set.
GK Update - 17th January 2015
1. LCA Tejas Ready for Crucial Handover
i. The first of the indigenously-built Light Combat Aircraft (LCA) Tejas is likely to be handed over to the Indian Air Force. Defence Minister Manohar Parrikar is expected to hand over the aircraft to Chief of Air Staff Air Chief Marshal Arup Raha.
ii. This will start the process of induction of fighters being built at home under a project that was commenced in 1983 and has already cost the exchequer over Rs.17,000 crores.
iii. 20 aircraft will be built by 2017-2018, to make the first squadron of the aircraft.
iv. The LCA programme was initiated in 1983 to replace the ageing MiG-21s in Indian Air force's combat fleet but has missed several deadlines due to several reasons.
2. Tamilmani likely to be interim DRDO chief
i. K. Tamilmani, Chief Controller of Aeronautics Cluster in the Defence Research and Development Organisation (DRDO), is likely to become the interim head of the organisation.
ii. Dr. Tamilmani, the senior-most of the seven cluster heads in the DRDO, is the Director of the Centre for Military Airworthiness and Certification (CEMILAC), Bangalore.
iii. The government on Tuesday terminated the 18-month contract of Dr. Chander and asked him to step down on January 31, ahead of his term that would have ended in May 2016.
iv. A proposal to de-link the position of Scientific Adviser to the Defence Minister from the Director-General, DRDO, was under consideration as part of a major overhaul of the organisation.
3. Filmmaker Shaji N Karun quits Censor Board
i. Another 12 members of the Board followed Leela Samson suggestion of quitting “en masse” and tendered their resignations.
ii. CBFC members including Ira Bhaskar, M.K. Raina, Pankaj Sharma, T.G. Thyagarajan, Shaji Karun, Anjum Rajabali, Shubra Gupta, Nikhil Alva, Rajeev Masand, Mamang Dai, K.C Sekhar Babu and L.K. Prabhu tendered their resignations on Saturday in a joint email to I&B Minister of State Rajyavardhan Rathore.
iii. The award-winning filmmaker Shaji N Karun said the board members were not happy about the approach of not just the present NDA Government but also about the approach of the previous Congress-led UPA regime towards the Board.
4. Beagle 2 spacecraft found intact on surface of Mars after 11 years
i. Beagle 2 was launched in 2003 onboard the European Space Agency’s Mars Express spacecraft. It was designed to land on the planet’s surface on Christmas Day that year but following ejection from Mars Express it was never heard from again.
ii. UK’s Beagle 2 successfully landed on the surface of Mars in 2003 but failed to fully deploy its solar panels. Without these, it could not communicate with Earth and scientists lost contact.
iii. The discovery images come from the HiRISE camera on Nasa’s Mars Reconnaissance Orbiter.
iv. Beagle 2 cost around £50m. It was comparatively cheap for a space mission, with some industrial work being performed on a cost-only basis.
5. S.K. Sinha - first non-Muslim to lead the Bangladesh’s top judiciary,
i. Justice Surendra Kumar Sinha has been appointed the 21st Chief Justice of Bangladesh.
ii. Justice Sinha is the first Chief Justice from the country’s ethnic minority Hindu community.
iii. He was the senior-most judge of Appellate Division of the Supreme Court who was made the next Chief Justice.
iv. Justice Sinha will serve just over three years as the Chief Justice with his retirement due in early 2018.
v. Born in 1951, Justice Sinha hails from Tilokpur village of north-eastern Moulvibazar district.
vi. A law graduate, he was enrolled as an advocate of the district court, Sylhet in 1974 and practised there for several year.
6. Book on Sonia Gandhi titled The Red Sari written by Javier Moro released in India
i. The Red Sari, an unauthorized biography of Congress Party President Sonia Gandhi, was released by Roli Books in India. The book has been written by Spanish author Javier Moro.
ii. The book describes about how Sonia Gandhi’s courage, honesty, and dedication have made her a leader in the eyes of one-sixth of humanity that is from her idyllic childhood to her passionate love affair, and from her days as a docile daughter-in-law to her current status of being the only Indian politician to have refused Prime Ministership.
iii. This book also examines the lives of the famous Nehru-Gandhi family set against the backdrop of the Bangladesh War, the Emergency, Operation Blue Star, and other events that have shaped modern Indian history.
iv. Originally, the book was written in Spanish language and was titled El Sari Rojo. It was first published in 2008.
v. The English version of the book was not allowed to release in India in 2010 because it was argued by the Congress Party and Sonia Gandhi's lawyers that the book is full of untruths, half-truths, falsehoods, defamatory statements, completely imaginary and invented conversations
7. HAL Chairman R K Tyagi conferred with JGBS-Top Rankers’ Excellence Award
i. Hindustan Aeronautics Limited (HAL) Chairman R.K. Tyagi was on 16 January 2015 conferred with the JGBS-Top Rankers' Excellence Award for CEO of the year 2014.
ii. Tyagi played a key role in 2014 being a successful year for HAL through series of initiatives. The year was dedicated for Integrity, Customer Focus and Quality (ICQ).
iii. The award has been instituted by Jindal Global Business School (JGBS) and Top Rankers’ Management Consultants.
iv. HAL recently contributed to the success of Mars Orbiter Mission and GSLV Mk III launch in 2014.
8. Sania Mirza wins Sydney Open title with Bethanie
i. India's Sania Mirza won her first title of the season and 23rd of her career when she and Bethanie Mattek-Sands shocked top-seeded Americans Abigail Spears and Raquel Kops-Jones in the summit clash of the Sydney International.
ii. The unseeded Indo-American combine humbled the top seeds 6-3, 6-3 in just 69 minutes.
iii. Sania and Bethanie earned 470 ranking points each and split $39,000 as prize money.
i. The first of the indigenously-built Light Combat Aircraft (LCA) Tejas is likely to be handed over to the Indian Air Force. Defence Minister Manohar Parrikar is expected to hand over the aircraft to Chief of Air Staff Air Chief Marshal Arup Raha.
ii. This will start the process of induction of fighters being built at home under a project that was commenced in 1983 and has already cost the exchequer over Rs.17,000 crores.
iii. 20 aircraft will be built by 2017-2018, to make the first squadron of the aircraft.
iv. The LCA programme was initiated in 1983 to replace the ageing MiG-21s in Indian Air force's combat fleet but has missed several deadlines due to several reasons.
2. Tamilmani likely to be interim DRDO chief
i. K. Tamilmani, Chief Controller of Aeronautics Cluster in the Defence Research and Development Organisation (DRDO), is likely to become the interim head of the organisation.
ii. Dr. Tamilmani, the senior-most of the seven cluster heads in the DRDO, is the Director of the Centre for Military Airworthiness and Certification (CEMILAC), Bangalore.
iii. The government on Tuesday terminated the 18-month contract of Dr. Chander and asked him to step down on January 31, ahead of his term that would have ended in May 2016.
iv. A proposal to de-link the position of Scientific Adviser to the Defence Minister from the Director-General, DRDO, was under consideration as part of a major overhaul of the organisation.
3. Filmmaker Shaji N Karun quits Censor Board
i. Another 12 members of the Board followed Leela Samson suggestion of quitting “en masse” and tendered their resignations.
ii. CBFC members including Ira Bhaskar, M.K. Raina, Pankaj Sharma, T.G. Thyagarajan, Shaji Karun, Anjum Rajabali, Shubra Gupta, Nikhil Alva, Rajeev Masand, Mamang Dai, K.C Sekhar Babu and L.K. Prabhu tendered their resignations on Saturday in a joint email to I&B Minister of State Rajyavardhan Rathore.
iii. The award-winning filmmaker Shaji N Karun said the board members were not happy about the approach of not just the present NDA Government but also about the approach of the previous Congress-led UPA regime towards the Board.
4. Beagle 2 spacecraft found intact on surface of Mars after 11 years
i. Beagle 2 was launched in 2003 onboard the European Space Agency’s Mars Express spacecraft. It was designed to land on the planet’s surface on Christmas Day that year but following ejection from Mars Express it was never heard from again.
ii. UK’s Beagle 2 successfully landed on the surface of Mars in 2003 but failed to fully deploy its solar panels. Without these, it could not communicate with Earth and scientists lost contact.
iii. The discovery images come from the HiRISE camera on Nasa’s Mars Reconnaissance Orbiter.
iv. Beagle 2 cost around £50m. It was comparatively cheap for a space mission, with some industrial work being performed on a cost-only basis.
5. S.K. Sinha - first non-Muslim to lead the Bangladesh’s top judiciary,
i. Justice Surendra Kumar Sinha has been appointed the 21st Chief Justice of Bangladesh.
ii. Justice Sinha is the first Chief Justice from the country’s ethnic minority Hindu community.
iii. He was the senior-most judge of Appellate Division of the Supreme Court who was made the next Chief Justice.
iv. Justice Sinha will serve just over three years as the Chief Justice with his retirement due in early 2018.
v. Born in 1951, Justice Sinha hails from Tilokpur village of north-eastern Moulvibazar district.
vi. A law graduate, he was enrolled as an advocate of the district court, Sylhet in 1974 and practised there for several year.
6. Book on Sonia Gandhi titled The Red Sari written by Javier Moro released in India
i. The Red Sari, an unauthorized biography of Congress Party President Sonia Gandhi, was released by Roli Books in India. The book has been written by Spanish author Javier Moro.
ii. The book describes about how Sonia Gandhi’s courage, honesty, and dedication have made her a leader in the eyes of one-sixth of humanity that is from her idyllic childhood to her passionate love affair, and from her days as a docile daughter-in-law to her current status of being the only Indian politician to have refused Prime Ministership.iii. This book also examines the lives of the famous Nehru-Gandhi family set against the backdrop of the Bangladesh War, the Emergency, Operation Blue Star, and other events that have shaped modern Indian history.
iv. Originally, the book was written in Spanish language and was titled El Sari Rojo. It was first published in 2008.
v. The English version of the book was not allowed to release in India in 2010 because it was argued by the Congress Party and Sonia Gandhi's lawyers that the book is full of untruths, half-truths, falsehoods, defamatory statements, completely imaginary and invented conversations
7. HAL Chairman R K Tyagi conferred with JGBS-Top Rankers’ Excellence Award
i. Hindustan Aeronautics Limited (HAL) Chairman R.K. Tyagi was on 16 January 2015 conferred with the JGBS-Top Rankers' Excellence Award for CEO of the year 2014.
ii. Tyagi played a key role in 2014 being a successful year for HAL through series of initiatives. The year was dedicated for Integrity, Customer Focus and Quality (ICQ).
iii. The award has been instituted by Jindal Global Business School (JGBS) and Top Rankers’ Management Consultants.
iv. HAL recently contributed to the success of Mars Orbiter Mission and GSLV Mk III launch in 2014.
8. Sania Mirza wins Sydney Open title with Bethanie
i. India's Sania Mirza won her first title of the season and 23rd of her career when she and Bethanie Mattek-Sands shocked top-seeded Americans Abigail Spears and Raquel Kops-Jones in the summit clash of the Sydney International.
ii. The unseeded Indo-American combine humbled the top seeds 6-3, 6-3 in just 69 minutes.
iii. Sania and Bethanie earned 470 ranking points each and split $39,000 as prize money.
Friday, 16 January 2015
Banking Awareness: RBI Changed Key Rates
Since July 2014, inflationary pressures (measured by changes in the consumer price index) have been easing. The path of inflation, while below the expected trajectory, has been consistent with the assessment of the balance of risks in the Reserve Bank’s bi-monthly monetary policy statements.
To some extent, lower than expected inflation has been enabled by the sharper than expected decline in prices of vegetables and fruits since September, ebbing price pressures in respect of cereals and the large fall in international commodity prices, particularly crude oil. Crude prices, barring geo-political shocks, are expected to remain low over the year. Weak demand conditions have also moderated inflation excluding food and fuel, especially in the reading for December. Finally, the government has reiterated its commitment to adhering to its fiscal deficit target.
These developments have provided headroom for a shift in the monetary policy stance. It may be recalled that the fifth bi-monthly monetary policy statement of December had stated that “if the current inflation momentum and changes in inflation expectations continue, and fiscal developments are encouraging, a change in the monetary policy stance is likely early next year, including outside the policy review cycle”. In its public interactions, the RBI had committed to initiate the process of monetary easing as soon as data indicated that medium term inflationary targets would be met. Keeping this commitment in mind, it has been decided to:
- Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 8.0 per cent to 7.75 per cent with immediate effect;
- Keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liabilities (NDTL);
- Continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate and liquidity under 7-day and 14-day term repos of up to 0.75 per cent of NDTL of the banking system through auctions; and continue with daily variable rate repos and reverse repos to smooth liquidity.
- Consequently, the reverse repo rate under the LAF stands adjusted to 6.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 8.75 per cent with immediate effect
Daily GK Update - 16th January 2015
1. Haryana picks Ramdev as brand ambassador
i. The Haryana government plans to promote yoga and ayurveda in a big way, and has appointed yoga guru Ramdev as its brand ambassador.
ii. Haryana's minister of sports and health Anil Vij said a herbal forest would be developed over thousands of acres of land in the state where plants of 25 thousand species of ayurvedic herbs would be grown under the supervision of the yoga guru and his close aide Balkrishna.
iii. An ayush wing was being established in all the hospitals of Haryana for which 550 doctors would have to do a refresher course under the supervision of the yoga guru.
iv. Haryana would be developed into an Ayurvedic University whereas a yogic centre of international standards would be built in Panchkula.
2. Censor Board chief Leela Samson decides to quit
i. Citing "interference, coercion and corruption of panel members and officers" appointed in the Central Board of Film Certification (CBFC) by the Union Information & Broadcasting Ministry, Bharatnatyam danseuse Leela Samson has quit as Censor Board chief.
ii. She put in her papers on Thursday amid reports that the Film Certification Appellate Tribunal (FCAT) had cleared the release of the film MSG – The Messenger of God featuring Dera Saccha Sauda chief Gurmeet Ram Rahim Singh in the lead role.
3. Siddhartha Chatterjee appointed as CTO of Persistent Systems Ltd
i. Siddhartha Chatterjee was appointed as the Chief Technology Officer (CTO) of Persistent Systems Ltd with effect will be based at the United States branch of the company.
ii. Chatterjee is a graduate in Electronics and Electrical Communications Engineering from the Indian Institute of Technology, Kharagpur.
iii. Chatterjee has served as an Assistant and Associate Professor of Computer Science at the University of North Carolina, Chapel Hill from 1994 to 2001.
iv. He had also served as a post-doctoral scientist at the Research Institute for Advanced Computer Science (RIACS) at Moffett Field, California from 1991 to 1994.
4. Noted RTI activist Subhash Chandra Agrawal conferred with Giraffe Hero award 2015
i. Renowned Indian RTI activist Subhash Chandra Agrawal was conferred with the Giraffe Hero award 2015 by a US-based NGO The Giraffe Heroes Project. ii. The award will be presented to him on 22 January 2015.
iii. Agrawal was awarded for his bravery in utilising the Right to Information (RTI) Act, 2005 for public good despite innumerable challenges. Agrawal also holds the Guinness record of filing highest number of published letters to the editors.
5. China Food and Drug Administration approved new vaccine to treat Poliomyelitis
i. Chinese drug regulator China Food and Drug Administration (CFDA) approved a new vaccine S-IPV to treat the Poliomyelitis.
ii. The vaccine S-IPV is known as Ai Bi Wei in China. It is manufactured by the Institute of Medical Biology of the Chinese Academy of Medical Sciences located in Kunming, southwest China's Yunnan province.
iii. The vaccine will be given to Chinese children as part of routine disease prevention and will help the global fight against the polio virus. The World Health Organization is also considering use of this new vaccine in its global polio treatment program.
6. RBI issued final guidelines for banks to act as Insurance brokers
i . Reserve Bank of India issued final guidelines for banks to act as insurance brokers. Earlier, the banks were allowed to undertake insurance business as agents of insurance companies on fee basis with an aim to increase insurance penetration in the country.
ii. The banks were allowed to look forward for participation in insurance business in accordance to Union Government’s notification in which it allowed banks to do business of insurance under Section 6(1)(o) of the Banking Regulation Act, 1949.
7. Trade deficit of India declined to ten month low in December 2014
i. Trade deficit of India declined to ten month low of 9.43 billion US dollars in December 2014. The data was released by the Union Ministry of Commerce & Industry.
ii. The trade deficit in December 2014 was narrowed by 44 percent from November 2014 due to fall down of global oil prices and fall of demand for gold.
iii. Imports of India declined by 4.8 percent to 34.8 billion US dollars in December 2014 as compared to 36.6 billion US dollars in December 2013.
iii. Exports of India fell by 3.8 percent to 25.4 billion US dollars and outbound shipments were valued at 26.4 billion US dollars in December 2014.
IBPS Calender for 2015 Out: IBPS PO and Clerical Exams in two Tiers
Hello students, IBPS calender 2015 is out. As a big surprise, IBPS has decided to hold two-tier examinations for recruitment of PO/MTs and Clerks from CWE-V 2015 onwards.
As per the notification on IBPS website, it has been decided by the competent authority to hold two-tier examinations for recruitment of PO/MT and Clerks from CWE-V onwards. All the candidates who successfully register themselves under CWE PO/MT-V and CWE CLERK-V will be called for Preliminary Examinations. Based on the performance in the preliminary examination, certain number of candidates will be shortlisted for each of these examinations. The short listed candidates will then be called for Main Examinations.
There will be fewer number of questions in the Preliminary Examination with shorter duration. The details with regard to both the Preliminary and Main examinations will be made available on IBPS website through the detailed notifications in due course.
The marks obtained in the Preliminary examination will not be considered for preparing the final merit list and the marks obtained in the Main Examination will only be considered for short listing for
interview.
The tentative dates for CWE PO/MT-V are as follows -
Preliminary Examination 03.10.2015, 04.10.2015, 10.10.2015 &11.10.2015
Also, IBPS RRB exam will be held in September 2015 and IBPS Clerk V will be held in December 2015.
Daily GK Update - 15th January 2015
1. PM Narendra Modi to launch 'Beti Bachao' scheme
i. the Modi government's big bang flagship scheme will be `Beti Bachao, Beti Padhao' (BBBP), which will help address the country's low child sex ratio.
ii. The scheme will be launched by PM Narendra Modi on January 22 and will focus on a multi-sectoral approach to tackling the problem of the vanishing girl child.
iii. The Rs 100-crore scheme is expected to be monitored by the Maneka Gandhi-headed ministry of women and child development (WCD) in coordination with the ministries of health and HRD.
iv. The Objectives -
v. Targets of the Scheme -
2. RBI Changed Key Rates
i. In a move that brought huge cheer to the markets, Reserve Bank of India (RBI) cut the reverse repo rate by 25 basis points to 7.75%.
ii. The central bank kept the Cash Reserve Ratio ( CRR) unchanged at 4.0%.
iii. Reasons for the Repo Cut :
3. Pakistan to ban JuD and Haqqani network
i. Pakistan plans to ban 10 terror outfits, including 26/11 mastermind Hafiz Saeed-led Jamaat-ud-Dawa (JuD) and the dreaded Afghan-based Haqqani Network, a move seen by experts as a "paradigm shift" in the country's security policy in the wake of Peshawar school massacre.
ii. The move came a day after the US declared the fugitive chief of the Tehreek-e-Taliban Pakistan Mullah Fazlullah as a 'Specially Designated Global Terrorist'.
iii. The UN security council designated the JuD a front for the LeT after the Mumbai attacks. Since then, the UN and US have sanctioned several JuD leaders.
4. Naqvi gets 1-year jail term
i. Union Minister of State for Parliamentary and Minority Affairs Mukhtar Abbas Naqvi was sentenced to a one-year jail term.
ii. Naqvi and 19 others were convicted by a Rampur court for breaching prohibitory orders in the run-up to the 2009 Lok Sabha election.
iii. Judicial magistrate Manish Kumar pronounced Mr. Naqvi guilty under Sections 143 (unlawful assembly), 341 (wrongful restraint) and 342 (wrongful confinement) of the Indian Penal Code, Section 7 of the Criminal Law Amendment Act and Section 144 of the Cr.PC.
iv. In 2009, Section 144 was imposed in Rampur when local BJP workers staged a protest after the arrest of the BJP district president. Over 200 people were named in the charge sheet.
5. Centre to implement biometric attendance system soon
i. The Centre is set to implement Aadhaar-based biometric system for attendance in all government departments and state-owned entities spread across Delhi.
ii. Department of electronics & information technology (DeitY) has so far implemented Aadhaar Enabled Biometric Attendance System (AEBAS) in 54 government locations in Delhi that requires fingerprint-based attendance for employees entering into the office premise.
iii. We are rolling out biometrics attendance system in 394 government organizations and agencies within the Delhi region while 300 of them have actually started working on implementing it.
6. Army Day celebrated on 15 January
i. India on 15 January 2015 observed the 67th Army Day. The day is celebrated to commemorate the day, when Lieutenant General (later Field Marshal) K M Cariappa on 15 January 1949 became the first Indian Commander-in-Chief of the Indian Army post Independence. He had succeeded General Sir Francis Butcher, the last British Commander-in-Chief of India.
ii. To mark the day, all three service chiefs, Army Chief General Dalbir Singh Suhag, Chief of Naval Staff Admiral Robin K Dhowan and Air Chief Marshal Arup Raha paid tributes at the Amar Jawan Jyoti at India Gate by laying floral wreath and remembering the martyred soldiers.
7. Anupam Shrivastava appointed as CMD of BSNL
i. Appointments Committee of the Cabinet (ACC) approved appointment of Anupam Shrivastava as CMD of Bharat Sanchar Nigam Limited.
ii. BSNL's Director Enterprises A N Rai is currently handling the additional charge of CMD.
iii. As Zonal Director for North Zone he is responsible for monitoring growth and maintenance of Telecom Network in 8 Circles.
8. Brett Lee retires from all forms of cricket
i. Australian pace bowler Brett Lee on Thursday announced he is to retire from all forms of cricket after a 20-year career.
ii. The 38-year-old called time on his international commitments in July 2012, but continued to play Twenty20 in both the Australian Big Bash League and the Indian Premier League.
iii. Lee played 76 Tests for Australia, taking 310 wickets, and 221 one-dayers with 380 dismissals.
i. the Modi government's big bang flagship scheme will be `Beti Bachao, Beti Padhao' (BBBP), which will help address the country's low child sex ratio.
ii. The scheme will be launched by PM Narendra Modi on January 22 and will focus on a multi-sectoral approach to tackling the problem of the vanishing girl child.
iii. The Rs 100-crore scheme is expected to be monitored by the Maneka Gandhi-headed ministry of women and child development (WCD) in coordination with the ministries of health and HRD.
iv. The Objectives -
- To prevent genderbiased sex selection by stringent enforcement of laws, especially by strengthening the implementation of PreConception and Pre-Natal Diagnostic Techniques (Pro hibition of Sex Selection) Act, 1994 (PC&PNDT Act) with strict punishments for violations.
- BBBP will also ensure access and availability of essential requirements related to nutrition, healthcare, education and protection and elimination of discrimination against a girl child which can lead to low self-esteem, lifelong deprivation and exclusion from the mainstream.
- Initiatives will be taken to encourage girls to express their views and to be heard, to help them participate actively , effectively and equally at all levels of social, economic, and political leadership.
v. Targets of the Scheme -
- A toilet in every girls' school in 100 vulnerable districts.
- An innovation fund at state-level to encourage best practices in improving child sex ratio (CSR) and gender inequities.
- District-level awards to schools strengthening girl child education.
2. RBI Changed Key Rates
i. In a move that brought huge cheer to the markets, Reserve Bank of India (RBI) cut the reverse repo rate by 25 basis points to 7.75%.
ii. The central bank kept the Cash Reserve Ratio ( CRR) unchanged at 4.0%.
iii. Reasons for the Repo Cut :- Plunging Oil prices in the Global arena and hence in India keeping the Inflation levels in the check.
- WPI increased at the rate of a mere 0.11% as against the expected increase of 0.6%.
- Retail inflation is at 5% as against an expected 5.4%.
- Fiscal deficit target is well in reach at 4.1%.
3. Pakistan to ban JuD and Haqqani network
i. Pakistan plans to ban 10 terror outfits, including 26/11 mastermind Hafiz Saeed-led Jamaat-ud-Dawa (JuD) and the dreaded Afghan-based Haqqani Network, a move seen by experts as a "paradigm shift" in the country's security policy in the wake of Peshawar school massacre.
ii. The move came a day after the US declared the fugitive chief of the Tehreek-e-Taliban Pakistan Mullah Fazlullah as a 'Specially Designated Global Terrorist'.
iii. The UN security council designated the JuD a front for the LeT after the Mumbai attacks. Since then, the UN and US have sanctioned several JuD leaders.
4. Naqvi gets 1-year jail term
i. Union Minister of State for Parliamentary and Minority Affairs Mukhtar Abbas Naqvi was sentenced to a one-year jail term.
ii. Naqvi and 19 others were convicted by a Rampur court for breaching prohibitory orders in the run-up to the 2009 Lok Sabha election.
iii. Judicial magistrate Manish Kumar pronounced Mr. Naqvi guilty under Sections 143 (unlawful assembly), 341 (wrongful restraint) and 342 (wrongful confinement) of the Indian Penal Code, Section 7 of the Criminal Law Amendment Act and Section 144 of the Cr.PC.
iv. In 2009, Section 144 was imposed in Rampur when local BJP workers staged a protest after the arrest of the BJP district president. Over 200 people were named in the charge sheet.
5. Centre to implement biometric attendance system soon
i. The Centre is set to implement Aadhaar-based biometric system for attendance in all government departments and state-owned entities spread across Delhi.
ii. Department of electronics & information technology (DeitY) has so far implemented Aadhaar Enabled Biometric Attendance System (AEBAS) in 54 government locations in Delhi that requires fingerprint-based attendance for employees entering into the office premise.
iii. We are rolling out biometrics attendance system in 394 government organizations and agencies within the Delhi region while 300 of them have actually started working on implementing it.
6. Army Day celebrated on 15 January
i. India on 15 January 2015 observed the 67th Army Day. The day is celebrated to commemorate the day, when Lieutenant General (later Field Marshal) K M Cariappa on 15 January 1949 became the first Indian Commander-in-Chief of the Indian Army post Independence. He had succeeded General Sir Francis Butcher, the last British Commander-in-Chief of India.
ii. To mark the day, all three service chiefs, Army Chief General Dalbir Singh Suhag, Chief of Naval Staff Admiral Robin K Dhowan and Air Chief Marshal Arup Raha paid tributes at the Amar Jawan Jyoti at India Gate by laying floral wreath and remembering the martyred soldiers.
7. Anupam Shrivastava appointed as CMD of BSNL
i. Appointments Committee of the Cabinet (ACC) approved appointment of Anupam Shrivastava as CMD of Bharat Sanchar Nigam Limited.
ii. BSNL's Director Enterprises A N Rai is currently handling the additional charge of CMD.
iii. As Zonal Director for North Zone he is responsible for monitoring growth and maintenance of Telecom Network in 8 Circles.
8. Brett Lee retires from all forms of cricket
i. Australian pace bowler Brett Lee on Thursday announced he is to retire from all forms of cricket after a 20-year career.
ii. The 38-year-old called time on his international commitments in July 2012, but continued to play Twenty20 in both the Australian Big Bash League and the Indian Premier League.
iii. Lee played 76 Tests for Australia, taking 310 wickets, and 221 one-dayers with 380 dismissals.
Daily GK Update - 14th January 2015
1. H.S.Brahma to be the next chief Election Commissioner of India.
i. Shri H.S. Brahma is all set to assume charge as the new Chief Election Commissioner of India.
ii. VS Sampath, Chief Election Commissioner, demits office on 15th January 2015, capping less than six years of an eventful tenure.
iii. Veeravalli Sundaram Sampath, turns 65 tomorrow, the upper age limit under the Constitution for holding the post.
iv. H.S.Brahma will be the 19th Chief Election Commissioner of India, He was the other election Commissioner along with Ahmed Zaidi in the outgoing Sampath regime.
v. H.S. Brahma, retired Indian Administrative Service officer of Andhra Pradesh State cadre (1975 Batch) assumed charge as Election Commissioner of India on 25th August, 2010.
2. DRDO chief Avinash Chander removed
i. The Modi government removed Avinash Chander, chief of top defence research organisation DRDO, 15 months before his contract was supposed to end.
ii. Chander was also the scientific advisor to the defence minister.
iii. Chander joined DRDO in 1972 after completing graduation in Electrical Engineering from Indian Institute of Technology (IIT), Delhi. Chander is the chief architect of Agni series of ballistic missile systems.
iv. The action could have been taken against the backdrop of Prime Minister Narendra Modi's comment that the 'laid back' attitude in the DRDO will not be tolerated.
3. PVR set to acquire movie exhibition company SPI Cinemas
i. The Ajay Bijli led PVR group is set to acquire Chennai's premier movie exhibition company SPI Cinemas, popularly known as Sathyam Cinemas.
ii. This could end up to be the biggest deal in India's multiplex sector. the deal may close for a rather steep valuation of approximately Rs 750-1,000 crore for just 40 odd screens, located predominantly in the Southern metro.
iii. last month Carnival Cinemas paid a little over Rs 700 crore to buy out Anil Ambani's Big Cinemas that has 242 screens across the country.
4. Union Ministry of Health proposed COTPA (Amendment) Bill 2015
i. The Union Ministry of Health and Family Welfare on 13 January 2015 proposed the Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) (Amendment) Bill 2015 (COTPA).
ii. The bill seeks to amend some provisions of Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) Act, 2003.
iii. Provisions of the COTPA (Amendment) Bill 2015
• The bill proposes to ban on-site advertising of tobacco products and shops selling cigarettes and other tobacco products will no longer be able to display the brand names.
• It proposed scrapping of designated smoking areas from hotels, restaurants and airports making an exception only for international airports to prevent exposure of non-smokers to harmful emissions.
• The penalty for smoking in restricted areas has been raised from 200 to 1000 rupees.
5. Bharatiya Mahila Bank inks pact with Lakme Salons to fund franchisees
i. Bharatiya Mahila Bank today inked an agreement with HUL arm Lakme Salons to bring easy financing options to fuel women entrepreneurship.
ii. This partnership would help encourage more women to become Lakme Salon's business partners.
iii. Mahila Bank has opened the 40th branch and will close the fiscal with 40 more.
iv. The loan book of the bank currently stands at Rs 400 crore and has plans to close the fiscal with Rs 800 crore and deposit books to Rs 1,000 crore from the present Rs 600 crore.
6. Canara Bank bags 3 MSME awards
i. Canara Bank has bagged three awards at the annual flagship event "MSME Banking Excellence Awards-2014" organised by Chamber of Indian Micro, Small and Medium Enterprises (CIMSME).
ii. Canara Bank has been adjudged as the "Best Bank Award-Winner" among other awards.
iii. The awards were presented by Union Minister for MSME Kalraj Mishra on the occasion.
7. Infosys CEO dedicates $250 million to innovate in India
i. Infosys CEO Vishal Sikka met Prime Minister Narendra Modi and disclosed that his company will spend USD 250 million (over Rs 1,500 crore) to fund innovations in software and services in India.
ii. Infosys will develop software for managing the kumbh mela scheduled in Ujjain (Madhya Pradesh) in 2016.
iii. The chief of India’s second largest IT services firm also discussed with Modi ways in which the company can participate in the Prime Minister’s vision of smart and digitally empowered India.
iv. Infosys formed USD 500 million Innovation Fund. Of this, Rs. 1,500 crore, will be dedicated to just innovation in India.
8. India will catch up with China’s growth rate in 2016-17: World Bank
i. The World Bank has said that India would catch up with China’s growth in the year 2016-17.
ii. The World Bank in its report also forecast a growth rate of seven per cent each in the fiscal year 2016 and 2017 as against China’s 7 per cent and 6. 9 per cent respectively.
iii. Regional growth is projected to rise to 6.8 per cent by 2017, as reforms ease supply constraints in India, political tensions subside in Pakistan, remittances remain robust in Bangladesh and Nepal, and demand for the region’s exports firms
i. Shri H.S. Brahma is all set to assume charge as the new Chief Election Commissioner of India.
ii. VS Sampath, Chief Election Commissioner, demits office on 15th January 2015, capping less than six years of an eventful tenure.
iii. Veeravalli Sundaram Sampath, turns 65 tomorrow, the upper age limit under the Constitution for holding the post.
iv. H.S.Brahma will be the 19th Chief Election Commissioner of India, He was the other election Commissioner along with Ahmed Zaidi in the outgoing Sampath regime.
v. H.S. Brahma, retired Indian Administrative Service officer of Andhra Pradesh State cadre (1975 Batch) assumed charge as Election Commissioner of India on 25th August, 2010.
2. DRDO chief Avinash Chander removed
i. The Modi government removed Avinash Chander, chief of top defence research organisation DRDO, 15 months before his contract was supposed to end.
ii. Chander was also the scientific advisor to the defence minister.
iii. Chander joined DRDO in 1972 after completing graduation in Electrical Engineering from Indian Institute of Technology (IIT), Delhi. Chander is the chief architect of Agni series of ballistic missile systems.
iv. The action could have been taken against the backdrop of Prime Minister Narendra Modi's comment that the 'laid back' attitude in the DRDO will not be tolerated.
3. PVR set to acquire movie exhibition company SPI Cinemas
i. The Ajay Bijli led PVR group is set to acquire Chennai's premier movie exhibition company SPI Cinemas, popularly known as Sathyam Cinemas.
ii. This could end up to be the biggest deal in India's multiplex sector. the deal may close for a rather steep valuation of approximately Rs 750-1,000 crore for just 40 odd screens, located predominantly in the Southern metro.
iii. last month Carnival Cinemas paid a little over Rs 700 crore to buy out Anil Ambani's Big Cinemas that has 242 screens across the country.
4. Union Ministry of Health proposed COTPA (Amendment) Bill 2015
i. The Union Ministry of Health and Family Welfare on 13 January 2015 proposed the Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) (Amendment) Bill 2015 (COTPA).
ii. The bill seeks to amend some provisions of Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) Act, 2003.
iii. Provisions of the COTPA (Amendment) Bill 2015
• The bill proposes to ban on-site advertising of tobacco products and shops selling cigarettes and other tobacco products will no longer be able to display the brand names.
• It proposed scrapping of designated smoking areas from hotels, restaurants and airports making an exception only for international airports to prevent exposure of non-smokers to harmful emissions.
• The penalty for smoking in restricted areas has been raised from 200 to 1000 rupees.
5. Bharatiya Mahila Bank inks pact with Lakme Salons to fund franchisees
i. Bharatiya Mahila Bank today inked an agreement with HUL arm Lakme Salons to bring easy financing options to fuel women entrepreneurship.
ii. This partnership would help encourage more women to become Lakme Salon's business partners.
iii. Mahila Bank has opened the 40th branch and will close the fiscal with 40 more.
iv. The loan book of the bank currently stands at Rs 400 crore and has plans to close the fiscal with Rs 800 crore and deposit books to Rs 1,000 crore from the present Rs 600 crore.
6. Canara Bank bags 3 MSME awards
i. Canara Bank has bagged three awards at the annual flagship event "MSME Banking Excellence Awards-2014" organised by Chamber of Indian Micro, Small and Medium Enterprises (CIMSME).
ii. Canara Bank has been adjudged as the "Best Bank Award-Winner" among other awards.
iii. The awards were presented by Union Minister for MSME Kalraj Mishra on the occasion.
7. Infosys CEO dedicates $250 million to innovate in India
i. Infosys CEO Vishal Sikka met Prime Minister Narendra Modi and disclosed that his company will spend USD 250 million (over Rs 1,500 crore) to fund innovations in software and services in India.
ii. Infosys will develop software for managing the kumbh mela scheduled in Ujjain (Madhya Pradesh) in 2016.
iii. The chief of India’s second largest IT services firm also discussed with Modi ways in which the company can participate in the Prime Minister’s vision of smart and digitally empowered India.
iv. Infosys formed USD 500 million Innovation Fund. Of this, Rs. 1,500 crore, will be dedicated to just innovation in India.
8. India will catch up with China’s growth rate in 2016-17: World Bank
i. The World Bank has said that India would catch up with China’s growth in the year 2016-17.
ii. The World Bank in its report also forecast a growth rate of seven per cent each in the fiscal year 2016 and 2017 as against China’s 7 per cent and 6. 9 per cent respectively.
iii. Regional growth is projected to rise to 6.8 per cent by 2017, as reforms ease supply constraints in India, political tensions subside in Pakistan, remittances remain robust in Bangladesh and Nepal, and demand for the region’s exports firms
Wednesday, 14 January 2015
Daily GK Update - 13th January 2015
1. AS Kiran Kumar appointed as new ISRO chief
i. AS Kiran Kumar on Monday was appointed as the new Indian Space Research Organisation (ISRO) chief.
ii. He was the director of Satellite Application Centre and joined ISRO in 1975.He was also behind the success of India's Mars Orbiter Mission which entered the Martian orbit on September 24.
iii. Kumar has contributed to the design and development of Electro-Optical Imaging Sensors for Airborne, LEO and GEO platform based imaging sensors starting from Bhaskara TV payload to the latest TMC adHySI payloads for Chandrayaan-1 missions.
2. Raghuram Rajan named Governor of the Year in Central Banking Awards 2015
i. Reserve Bank of India Governor Raghuram Rajan has won "Governor of the Year" in the Central Banking Awards for 2015 on Monday.
ii. Jacques de Larosiere winning the Lifetime Achievement Award after a lengthy struggle for monetary order while Claudio Borio, head of the monetary and economic department at the Bank for International Settlements, was handed the inaugural award for Economics in Central Banking, designed to recognise significant contributions to the field.
iii. This is a recognition of the part the Reserve Bank of India and its staff have been playing in bringing macroeconomic stability to the Indian economy.
3. Retail inflation up at 5% in Dec on higher food prices
i. Retail inflation moved up marginally to 5 percent in December as prices of some food items, including fruits and vegetables, increased.
ii. In November, retail inflation based on the Consumer Price Index (CPI) was at 4.38 percent, the lowest level since government started computing the new series of data in January 2012.
iii. The consumer inflation rose to 5.32 percent in urban India and 4.71 percent in rural area during December.
iv. RBI was planning to ease the interest rates in the next revision riding on a lower inflation rate.
v. RBI is scheduled to announce its sixth bi-monthly monetary policy on 3rd February.
4. India’s Mars Orbiter team wins US award
i. India’s Mars Orbiter programme team has won the 2015 Space Pioneer Award in the science and engineering category from the US based National Space Society (NSS).
ii. This award will be presented to an ISRO representative during the National Space Society’s 2015 International Space Development Conference, the 34th ISDC, to be held in Toronto, Canada.
iii. Note - India’s Mars Orbiter launched on Nov 5, 2013 that went into Mars orbit on Sep 24, 2014 achieved two significant mission firsts in terms of an Indian spacecraft that has gone into orbit around Mars on the very first try and that no other country has ever done this. Secondly, the spacecraft is in an elliptical orbit with a high apoapsis, and has a high resolution camera which is taking full-disk colour imagery of Mars.
iv. The Mars Orbiter programme team located in Bangalore is headed by Mylswamy Annadurai.
5. Zomato acquires U.S. firm
i. Indian restaurant search services provider Zomato acquired U.S.-based rival Urbanspoon for about $50 million in one of the biggest overseas deals by an Indian startup.
ii. Company is said to be in talks to raise about $100 million in fresh funding.
iii. The acquisition of Urbanspoon, which marks Zomato's entry into the United States, Canada and Australia, will result in its presence in 22 countries, covering more than one million restaurants.
iv. Founded in 2008, Zomato is currently valued at around $660 million.
6. Deepak Parekh appointed as Chairman of BAE Systems India (Services) Private Limited
i. Deepak Parekh appointed as a Non-Executive Director and Chairman of BAE Systems India (Services) Private Limited with effect from 1 January 2015.
ii. Parekh was appointed as a member of the BAE Systems’s Independent Advisory Board for India association in 2010.
iii. Indian Government honoured Parekh’s performance with the Padma Bhushan in 2006.
7. Australia launched Online Visa Pilot Programme for Indian business and tourism visitors
i. Australia launched Online Visa Pilot Programme to make it easier for Indian business and tourism visitors to apply online visa for travelling Australia.
ii. It covers online lodgement of subclass 600 visas for Indian business and tourism visitors. It will be rolled out through selected travel agents across India.
iii. India has the potential to contribute between 1.9 billion US dollars and 2.3 billion US dollars annually to tourism industry by 2020.
8. Cristiano Ronaldo retains the Ballon d’Or
i. Portugal’s Cristiano Ronaldo won the FIFA Ballon d’Or for the second year in a row and the third time in his career, ahead of Argentinean Lionel Messi and Manuel Neuer of Germany.
ii. Joachim Low’s feat in guiding Germany to the 2014 FIFA World Cup earned him the Coach-of-the-Year award.
iii. Colombian James Rodriguez won the Puskas Award for the goal of the year.
iv. Contributing to Ronaldo’s win were 37.66% of the votes coming from 181 of the national team coaches, 182 of the national team captains, and 181 of the media representatives who voted.
v. Messi was second with 15.76% and Neuer, third with 15.72%.
i. AS Kiran Kumar on Monday was appointed as the new Indian Space Research Organisation (ISRO) chief.
ii. He was the director of Satellite Application Centre and joined ISRO in 1975.He was also behind the success of India's Mars Orbiter Mission which entered the Martian orbit on September 24.
iii. Kumar has contributed to the design and development of Electro-Optical Imaging Sensors for Airborne, LEO and GEO platform based imaging sensors starting from Bhaskara TV payload to the latest TMC adHySI payloads for Chandrayaan-1 missions.
2. Raghuram Rajan named Governor of the Year in Central Banking Awards 2015
i. Reserve Bank of India Governor Raghuram Rajan has won "Governor of the Year" in the Central Banking Awards for 2015 on Monday.
ii. Jacques de Larosiere winning the Lifetime Achievement Award after a lengthy struggle for monetary order while Claudio Borio, head of the monetary and economic department at the Bank for International Settlements, was handed the inaugural award for Economics in Central Banking, designed to recognise significant contributions to the field.
iii. This is a recognition of the part the Reserve Bank of India and its staff have been playing in bringing macroeconomic stability to the Indian economy.
3. Retail inflation up at 5% in Dec on higher food prices
i. Retail inflation moved up marginally to 5 percent in December as prices of some food items, including fruits and vegetables, increased.
ii. In November, retail inflation based on the Consumer Price Index (CPI) was at 4.38 percent, the lowest level since government started computing the new series of data in January 2012.
iii. The consumer inflation rose to 5.32 percent in urban India and 4.71 percent in rural area during December.
iv. RBI was planning to ease the interest rates in the next revision riding on a lower inflation rate.
v. RBI is scheduled to announce its sixth bi-monthly monetary policy on 3rd February.
4. India’s Mars Orbiter team wins US award
i. India’s Mars Orbiter programme team has won the 2015 Space Pioneer Award in the science and engineering category from the US based National Space Society (NSS).
ii. This award will be presented to an ISRO representative during the National Space Society’s 2015 International Space Development Conference, the 34th ISDC, to be held in Toronto, Canada.
iii. Note - India’s Mars Orbiter launched on Nov 5, 2013 that went into Mars orbit on Sep 24, 2014 achieved two significant mission firsts in terms of an Indian spacecraft that has gone into orbit around Mars on the very first try and that no other country has ever done this. Secondly, the spacecraft is in an elliptical orbit with a high apoapsis, and has a high resolution camera which is taking full-disk colour imagery of Mars.
iv. The Mars Orbiter programme team located in Bangalore is headed by Mylswamy Annadurai.
5. Zomato acquires U.S. firm
i. Indian restaurant search services provider Zomato acquired U.S.-based rival Urbanspoon for about $50 million in one of the biggest overseas deals by an Indian startup.
ii. Company is said to be in talks to raise about $100 million in fresh funding.
iii. The acquisition of Urbanspoon, which marks Zomato's entry into the United States, Canada and Australia, will result in its presence in 22 countries, covering more than one million restaurants.
iv. Founded in 2008, Zomato is currently valued at around $660 million.
6. Deepak Parekh appointed as Chairman of BAE Systems India (Services) Private Limited
i. Deepak Parekh appointed as a Non-Executive Director and Chairman of BAE Systems India (Services) Private Limited with effect from 1 January 2015.
ii. Parekh was appointed as a member of the BAE Systems’s Independent Advisory Board for India association in 2010.
iii. Indian Government honoured Parekh’s performance with the Padma Bhushan in 2006.
7. Australia launched Online Visa Pilot Programme for Indian business and tourism visitors
i. Australia launched Online Visa Pilot Programme to make it easier for Indian business and tourism visitors to apply online visa for travelling Australia.
ii. It covers online lodgement of subclass 600 visas for Indian business and tourism visitors. It will be rolled out through selected travel agents across India.
iii. India has the potential to contribute between 1.9 billion US dollars and 2.3 billion US dollars annually to tourism industry by 2020.
8. Cristiano Ronaldo retains the Ballon d’Or
i. Portugal’s Cristiano Ronaldo won the FIFA Ballon d’Or for the second year in a row and the third time in his career, ahead of Argentinean Lionel Messi and Manuel Neuer of Germany.
ii. Joachim Low’s feat in guiding Germany to the 2014 FIFA World Cup earned him the Coach-of-the-Year award.
iii. Colombian James Rodriguez won the Puskas Award for the goal of the year.
iv. Contributing to Ronaldo’s win were 37.66% of the votes coming from 181 of the national team coaches, 182 of the national team captains, and 181 of the media representatives who voted.
v. Messi was second with 15.76% and Neuer, third with 15.72%.
Banking Awareness: A summary on NEFT, RTGS & IMPS
National Electronic Fund Transfer (NEFT)
- Meaning – It is way in which you can transfer fund from any bank account to any other bank account holder in India. NEFT is based on batch processing system.
- Minimum amount – Rs. 1
- Maximum amount – There is no upper ceiling for transferring money through NEFT, but generally RTGS is used for transfer of Rs 2,00,000 or above
- Time limit – The transactions are processed in hourly batches. There are twelve settlements from 8 A.M. to 7 P.M. on the weekdays (Monday – Friday) and six settlements from 8 A.M. to 1 P.M. on Saturday. The maximum time consumed is 2 hours from the submitting of the transaction in a batch.
- Availability – NEFT is not available on the bank holidays, RBI holiday and Sunday.
Note - For transferring funds to Nepal, the limit is of Rs. 50, 000.
Real Time Gross Settlement (RTGS)
- Meaning – It is way in which you can transfer fund from any bank account to any other bank account holder in India in real time.
- Minimum amount – Rs 2,00,000
- Maximum amount – No limit
- Time limit – The transactions are processed on order basis i.e. Real time. The RTGS service is available from 8 A.M to 8 P.M. on the weekdays (Monday – Friday) and from 8 A.M. to 3:30 P.M. on Saturday. The transfer is instant but the bank is allowed to take up to 2 hours for crediting the amount to the depositor account.
- Availability – RTGS is not available on the bank holidays, RBI holiday and Sunday.
Inter Mobile Payment Service (IMPS)
- Meaning – It is way in which you can transfer fund from any bank account to any other bank account holder in India anytime.
- Minimum amount – Rs 1
- Maximum amount – Banks are allowed to set their own limit for IMPS.
- Time limit – It is real time. The depositor account is credited in less than 1 minute from the submission of transaction.
- Availability – IMPS can be done 24X7 even on bank holidays, RBI holiday and Sunday
Current Affairs Quiz
1. India and which of the following countries have called for freedom of navigation in the South China
Sea recently?
1) China
2) Japan
3) Vietnam
4) Laos
5) Philippines
2. The Prime Minister launched 'Swavalamban Abhiyan', a new pro-poor initiative of the Government of?
1) Maharashtra
2) Gujarat
3) Rajasthan
4) Madhya Pradesh
5) Chhattisgarh
3. Who inaugurated the Nalanda University in Bihar in September 2014?
1) Sushma Swaraj
2) Narendra Modi
3) Smriti Irani
4) Pranab Mukherjee
5) Hamid Ansari
4. The Prime Minister Narendra Modi met Benjamin Netanyahu on the sidelines of the United Nations General Assembly in September 2014. He is the?
1) President of Israel
2) Prime Minister of Israel
3) President of Syria
4) Prime Minister of Syria
5) None of these
5. Yudh Abhyas 2014 is a combined military training exercise of India and?
1) Nepal
2) Singapore
3) Malaysia
4) USA
5) France
6. Which of the following declared 2014 as the Year of the Commando?
1) CRPF
2) NSG
3) BSF
4) ITBP
5) RAF
7. The Maulana Azad National Academy for Skills (MANAS) is being set up with its headquarters in?
1) New Delhi
2) Mumbai
3) Hyderabad
4) Pune
5) Lucknow
8. Nadir Patel has been appointed as which country's new High Commissioner to India?
1) UK
2) New Zealand
3) Canada
4) South Africa
5) None of these
9. Who replaced Arvind Mayaram as the new Finance Secretary?
1) Shaktikanta Das
2) G.S. Sandhu
3) Arvind Ranjan
4) Rajiv Mehrishi
5) None of these
10. Which of the following general insurance companies will provide an accident insurance cover of up to Rs. 1 lakh under the Pradhan Mantri Jan Dhan Yojana?
1) Bajaj Allianz
2) ICICI Lombard
3) IFFCO-Tokio
4) Reliance
5) HDFC Ergo
ANSWERS
1. 32. 2
3. 1
4. 2
5. 4
6. 2
7. 1
8. 3
9. 4
10. 5
Daily GK Update - 12th January 2015
1. NRIs can vote through postal ballots
i. Centre gave their nod to the proposal prepared by a 12-member committee led by Vinod Zutshi, Deputy Election Commissioner, for ‘Exploring Feasibility of Alternative Options for Voting by Overseas Electors’.
ii. The Centre told the Supreme Court that the EC’s recommendation to extend voting rights to NRIs through postal ballots have been accepted in letter and spirit.
iii. Chief Justice H L Dattu and A K Sikri asked the Centre to inform it about “further steps taken to implement the suggestions.”
iv. The poll panel had contended that the move to allow NRIs to use proxy voting on the lines of defence personnel and e-ballot facility will require changes in the law and a legislative framework.
2. Golden Globe Awards announced
i. the 72nd Golden Globe Awards announced in Beverly Hills, California
ii. Coming of age tale "Boyhood" won the coveted Golden Globe for best drama on Sunday.
iii. while the quirky period caper "The Grand Budapest Hotel" was the surprise winner for best comedy or musical, in a big upset to awards season front-runner "Birdman."
List of award winners -
- Best Motion Picture-Drama: Boyhood
- Best Actor in a Motion Picture- Drama: Eddie Redmayne, The Theory of Everything
- Best Actress in a Motion Picture-Drama: Julianne Moore, Still Alice
- Best Motion Picture-Comedy or Musical: The Grand Budapest Hotel
- Best Actress in a Motion Picture - Comedy or Musical: Amy Adams, Big Eyes
- Best Actor in a Motion Picture-Comedy or Musical: Michael Keaton, Birdman
- Best Animated Film: How To Train Your Dragon 2
- Best Foreign Language Film: Leviathan (Russia)
- Best Supporting Actress in a Motion Picture: Patricia Arquette, Boyhood
- Best Supporting Actor in a Motion Picture: J.K. Simmons, Whiplash
- Best Director-Motion Picture: Richard Linklater, Boyhood
- Best Screenplay: Birdman
- Best Original Score - Motion Picture: Johann Johannsson, The Theory of Everything
- Best Original Song - Motion Picture: John Legend and Common, "Glory," Selma
3. Govt to sell stake in PSUs
i. Finance Minister Arun Jaitley today said the divestment programme would be pursued on priority and involve more than one PSU during this period.
ii. There are reports that the government is looking to sell 10 per cent stake in Coal India to raise Rs 24,000 crore.
iii. The government has realised Rs 1,715 crore from disinvestment proceeds so far in the current fiscal 2014-15.
iv. Government have set a target of Rs 43,425 crore from sale of its shares in listed companies.
4. Microsoft ties up with Idea for paid apps, games
i. Handset maker Microsoft Devices has partnered with Idea Cellular to help subscribers of the telecom services firm pay for apps as part of monthly bills.
ii. Idea users will be able to purchase premium apps and games from the Windows Store on Microsoft Lumia as well as other Windows-based smartphones and pay for them through integrated billing.
iii. The smartphone market in India is poised to grow over 70 per cent this fiscal and the app ecosystem is also booming.
iv. The Windows Store, competes with Google's Play Store and Apple's App store besides other smaller platforms.
5. National Youth Day observed across India on 12 January
i. The day is observed annually to mark the birth anniversary of social reformer, philosopher and thinker Swami Vivekananda.
ii. This is the 152nd birth anniversary of Swami Vivekananda.
iii. The Union Government in 1984 had declared that 12 January, the birthday of Swami Vivekananda will be observed as the National Youth Day.
iv. Swami Vivekananda's lectures and writings are a source of inspiration for youth and have motivated numerous youth organisation.
v. His writings derive their inspiration from Indian spiritual tradition and the broad outlook of his Master Sri Ramakrishna.
vi. All his teachings can be found in The Complete Works of Swami Vivekananda, in nine volumes, published by Advaita Ashrama, Kolkata.
vii. He is best known for his inspiring speech at the Parliament of the World's Religions in Chicago in 1893 in which he introduced Hinduism, his words began with words, Sisters and brothers of America.
6. SDSC-SHAR director MYS Prasad chosen for Vikram Sarabhai Memorial Award 2015
i. The director of Satish Dhawan Space Centre (SDSC), Sriharikota Range (SHAR) MYS Prasad was on 10 January 2015 selected for the Vikram Sarabhai memorial award 2015.
ii. The award will be presented to MYS Prasad by the Indian Science Congress Association (ISCA).
iii. Prasad was selected for his outstanding contribution to Research and Development in the field of space science in his long career at the Indian Space Research Organisation (ISRO).
iv. The Vikram Sarabhai memorial award was instituted by the Indian Science Congress Association in 1997-98. The award carries a Gold Medal and is given in every alternate years.
7. EC announces Delhi Assembly poll dates; voting on Feb 7, counting on Feb 10
i. Voting for Delhi Assembly Elections 2015 would be held in a single phase on February 7 with the counting of votes scheduled for February 10,Delhi has 70 Assembly seats.
ii. The total electorate of Delhi is 1.3 crore and the total number of total stations are 11763. Model Code of Conduct has come into force from today.
iii. Last time Arvind Kejriwal challenged Modi - in the Lok Sabha polls - the people of Varanasi had left him humbled.
iv. The Congress forms the third axis of politics in Delhi but given the party's weak performance in successive Assembly polls after the Lok Sabha poll defeat, the battle is essentially between the BJP and the AAP.
v. The EC appears to have taken care while finalising the dates so as to ensure that it does not come in the way of school annual examinations, including those conducted by the CBSE that usually start early March.
vi. In 2013, the BJP had emerged as the single largest party with 31 MLAs, followed by AAP which got 28 MLAs.
8. Stan Wawrinka wins Chennai Open
i. Stan Wawrinka's notched a comfortable 6-3, 6-4 victory over Slovenian qualifier Aljaz Bedene to win the Chennai Open.
ii. It was the second consecutive title victory at Chennai and third overall for the top-seeded player, who did not drop a set in the tournament.
iii. It was the third time the two players met at the Chennai Open with Bedene winning their quarterfinal match in 2013 and Wawrinka prevailing at the same stage last year.
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