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UPDATEDGKCAPSULEFORSBIPO2014EXAM
CurrentRBIPolicy&ReserveRates:
RepoRate 8%(Unchanged)
ReverseRepo 7%(Unchanged)
CRR 4%(Unchanged)SLR 22.5% (Changed)MSF 9%(Unchanged)BankRate 9%(Unchanged)
Note:Ason3June2014,RBI(ReserveBankofIndia)initsSecondbimonthlymonetarypolicystatementkeptthekeypolicyrate(repo)unchanged.SLRwascutby50basispointfrom23%to22.5%.
NewsrelatedtoRBI:
1. RBIsimplifiesKYCnormsforopeningbankaccount:Customersneedtosubmitonlyonedocumentaryproofofaddresseithercurrentorpermanentwhileopeningabankaccountorwhileundergoingperiodicupdation,theReserveBankofIndia.Incasetheaddressmentionedasperproofofaddressundergoesachange,freshproofofaddressmaybesubmittedtothebranchwithinsixmonths,theRBIsaidinanotificationtobanks.Noproofisrequiredtobesubmittedforsuchaddressforcorrespondence/localaddress,theRBIadded.However,thisaddressmaybeverifiedbythebankthroughpositiveconfirmationsuchasacknowledgmentofreceiptofletter,chequebooks,ATMcards;telephonicconversation;andvisits.
2. AustraliaandNewZealandBankingGroup(ANZ)hasreceivedinprincipleapprovalfromtheReserveBanktoopentwonewbranches.ThenewbrancheswillcomeupGurgaon,NCR,andouterBangalore.
3. RBIdirectiveonforeigncurrencyaccounts:TheReserveBankofIndiahasdirectedbanksto:convertcreditbalancesinanyinoperativeforeigncurrency(FC)denominateddepositintoIndianrupeeiftheformerremainsnotinuseforthreeyearsfromthedateofmaturityofdeposit.
4. RBIeasesgoldimportnorms;nodforselecttradinghousestoprocurefromabroad:Underthisscheme,animporterhastoensurethatatleast20percentofeverylotofimportedgoldisexclusivelymadeavailableforexportpurpose.
5. RBInodforbankloantenureupto10yearstoboostexportindustry.Inamajorboostfortheexportindustry,theRBIhasallowedbankstoprovideloanswithtenuresofupto10years.Theseloanswillhelpexportersinensuringcapitalflowstofulfilllongtermcontracts.Existingnormsallowbankstogiveloansforuptooneyearonly.
ThisGKCapsulehasbeenpreparedbyCareerPowerInstituteDelhi(FormerlyKnownasBankPower).ThisdocumentconsistsofallimportantnewsandeventswhichcancomeinSBIPOExam.
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6. TheReserveBankofIndiaonWednesdaysaidbanksshouldmakeallnewATMsinstalledfromJuly1,2014astalkingATMswithBraillekeypads.
7. RBI,hasdecidedthatIndiancompanieswillnotbepermittedtoraiseExternalCommercialBorrowingsfromoverseasbranches
NewsRelatedtoBanking&Finance
1. NationalBankforAgricultureandRuralDevelopment(Nabard)
hasreducedtheinterestrateonitslongtermrefinancefacilitytobanksby20basispointstopromoteinvestmentsinagriculture.Thenewrateswillbe9.5percent(9.7percentearlier)for5yearsandaboveand9.7percent(9.9percentearlier)for35years.
2. FinanceMinisterArunJaitleyhasbeenappointedontheBoardofGovernorsofPhilippinesbasedAsianDevelopmentBank(ADB).
3. EximBankhasextendedUSD46millionlineofcredittoMauritiusforfinancinggoodsanddefencerelatedvehiclespurchases.
4. BharatiyaMahilaBank(BMB)wasincludedinthesecondscheduleoftheReserveBankofIndia(RBI)Act,1934.TheinclusionoftheBMBinthesecondschedulewasannouncedbyRBIinanotificationissuedinMumbaion21May2014.Note:i.WiththeinclusionofBMB,totalnumberofscheduledcommercialbanksinIndianowstandsat90.Ason2May2014,therewere89ScheduledcommercialbanksinIndia.ii.TheinclusionofBMBinthesecondscheduleoftheRBIAct,193meansthatnowitwillbeeligibleforloansfromRBIonbankrateandalsoacquiredmembershipofclearinghouses.
5. WorldBankhassignedanagreementwiththegovernmenttoprovidealoanassistanceofUSD1,006.20millionforSarvaShikshaAbhiyanIII,whichisthelargestongoing"EducationforAll"programmeintheworld.
6. India'seconomicgrowthremainedsubduedat4.7percentin201314andat4.6percentinthefourthquarterofthefinancialyear,mainlyduetoadeclineinmanufacturingandminingoutput.AccordingtoofficialdatareleasedbytheCentralStatisticsOfficeinNewDelhi,thecountry'sgrossdomesticproductin201314waslessthanitsadvanceestimateof4.9percent.
7. FICCIandIDBIsignedanMoUforeasyaccesstoorganisedfinancefacilityatcompetitiveinterestratesformicro,smallandmediumenterprise(MSME).
ImportantNews(India&World):
1. Lithuaniatobecome19thcountrytoadoptEuroascurrencyfrom1January2015.Itwillbecomethe19thmember
oftheeurozoneoutof28countriesintheEuropeanUnion,andthelastoftheBalticstatestojoin.Note:EstoniawasthefirstBalticstatetobecomeamemberoftheeurozonein2011,followedbyLatviaon1January2014.LithuaniaCapital:Vilnius, President:DaliaGrybauskait, PrimeMinister:AlgirdasButkeviius
2. FormerIndiacaptainSouravGangulyjoinedtheSupremeCourtappointedMudgalcommittee,whichisprobingtheIPLbettingandspotfixingscandal,asanexpertoncricketingaffairs.
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3. Telanganacameintoexistenceasthe29thstateofIndiaandTRSsupremeoKChandrasekharRao(KCR)wassworninasitsfirstChiefMinister.ESLNarasimhanwassworninasthefirstGovernorofTelangana.
4. MadhyaPradeshgovernmenthasappointedactorMadhuriDixitasthebrandambassadorforitsMamtaAbhiyaan(maternalandchildhealth)campaign.
5. Indiaisamongtheworld'stopfivenationsinconcentratedsolarpower(CSP)technologycapacityrankingstoppedbytheUS,accordingtoanewreport.Note:Indiaisplacedfourth,aheadofChina,intherankingsrecentlyreleasedinareportbytheRenewableEnergyPolicyNetworkforthe21Century(Ren21),aninternationalmultipolicystakeholdernetworkthatpromotesrapidglobaltransitiontorenewableenergy.
6. Indiabecamethesecondlargestexporteroftextilesintheworld.ThiswasrevealedbytherecentdatareleasedbyUNComtradeinGlobalTextilesaswellasApparelExports.
7. IndiawaselectedforasecondtimetoaUNESCObody,taskedwiththesafeguardingofintangibleculturalheritage.Indiawontheelectionbyaresounding135votesagainstatotalof142votescastbymemberstatespresentattheUNESCOheadquartersinParis.Note:ThisisthesecondtimethatIndiahasbeenelectedtotheIntergovernmentalCommitteefortheSafeguardingoftheIntangibleCulturalHeritage,theearliertermbeingfrom20062010
8. ThegovernmenthasproposedtoraiseForeignDirectInvestment(FDI)indefencesectorto100percent.Accordingtosources,theCommerceandIndustryMinistryhascirculatedaCabinetnoteforinterministerialconsulatation.
9. PakistanhassaiditwouldgrantIndiathestatusofNonDiscriminatoryMarketAccess(NDMA)tofacilitateenhancedbilateraltrade.
10. Forthethirdyearinarow,IndiraGandhiInternationalAirportinNewDelhihasbeenadjudgedthesecondbestairportintheworldforitsservicequality
11. SachinTendulkartobegoodwillambassadorfornationalgames.The35NationalGamestobeheldinsevencitiesintheStateearlynextyearwillhavecricketlegendSachinTendulkarasitsgoodwillambassador.
12. PrimeMinisterNarendraModiquithisVadodaraLokSabhaseat,choosingtoretainVaranasiinUttarPradesh,wheretheBJPrecordedalandslidevictorybagging71ofthe80seatsintherecentelections.
13. Indiahasfiguredamongthetop10marketsfortheinternationalbusinesscommunity,accordingtoAustraliasInternationalBusinessSurvey.
14. MalavathPoorna,a13yearsand11montholdgirlofAndhraPradeshbecametheyoungestwomantoclimbtheMountEverest,thehighestpeakintheworld.
15. SingaporebecamethetopsourceofFDIintoIndiareplacingMauritius:DepartmentofIndustrialPolicyandPromotion(DIPP)
16. China,Russiasign30yeargasdeal17. TheArmyhaslaunchedacoachingprogrammeforthestudentsofChenabValleybeltinJammuandKashmirtohelp
themcracktheprestigiousIndianInstituteofTechnologyJointEntranceExam(IITJEE).18. Brazilhonoured100yearsofIndiancinemabyreleasingtwopostagestamps19. FlipkartbuysMyntrafor$300mn.FlipkartannouncedthatithasacquiredMyntra,thecountryslargeste
commercesiteforfashionandlifestyleproducts.20. TwoIndianfirmswontheAshdenaward(thegreenenergyaward)in2014.InfosysreceivedtheInternational
AshdenAwardforSustainableBuildings.AnotherIndianfirmGreenwayGrameenwontheAshdenCleanEnergyforWomenandGirlsaward.
21. IndianAmericanstudentAkhilRekulapelliwonNationalGeographicBeeChampionship22. TheUNSecurityCouncilhasofficiallydesignatedBokoHaramasaterroristgrouplinkedtoalQaedaandslapped
sanctionsonthemilitantgroupthathascarriedoutbombingsandtherecentabductionofover200schoolgirlsinNigeria.
23. Asia'sbiggestmilkbrandAmulannouncedtosetupadairyprocessingplantinVaranasi.Theplantwillinitiallyprocessfivelakhlitresperdaywiththecapacitytodoubletheproduction.
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SomeImportantEconomicTerms:
1. CommercialPaper:CommercialPaper(CP)isanunsecured
moneymarketinstrumentissuedintheformofapromissorynote.Corporates,primarydealers(PDs)andtheAllIndiaFinancialInstitutions(FIs)areeligibletoissueCP.Maturityperiod:betweenaminimumof7daysandamaximumofuptooneyearfromthedateofissue.CPcanbeissuedindenominationsofRs.5lakhormultiplesthereof.OnlyascheduledbankcanactasanIPA(IssuingandPayingAgent)forissuanceofCP.
2. TreasuryBills:Treasurybills(Tbills)offershortterminvestmentopportunities,generallyuptooneyear.Theyarethususefulinmanagingshorttermliquidity.Atpresent,theGovernmentofIndiaissuesthreetypesoftreasurybillsthroughauctions,namely,91day,182dayand364day.TherearenotreasurybillsissuedbyStateGovernments.TreasurybillsareavailableforaminimumamountofRs.25,000andinmultiplesofRs.25,000.Treasurybillsareissuedatadiscountandareredeemedatpar.TreasurybillsarealsoissuedundertheMarketStabilizationScheme(MSS).
3. CertificatesofDeposit(CD):CertificateofDeposit(CD)isanegotiablemoneymarketinstrumentandissuedindematerialisedformorasaUsancePromissoryNoteagainstfundsdepositedatabankorothereligiblefinancialinstitutionforaspecifiedtimeperiod.Note:CDscanbeissuedby(i)scheduledcommercialbanks{excludingRegionalRuralBanksandLocalAreaBanks};and(ii)selectAllIndiaFinancialInstitutions(FIs)thathavebeenpermittedbyRBIMinimumamountofaCDshouldbeRs.1lakh,andinmultiplesofRs.1lakhthereafter.ThematurityperiodofCDsissuedbybanksshouldnotbelessthan7daysandnotmorethanoneyear,fromthedateofissue.
4. FiscalDeficit:Adeficitinthegovernmentbudgetofacountryandrepresentstheexcessofexpenditureoverincome.Sothisistheamountofborrowedfundsrequirebythegovernmenttomeetitsexpenditurescompletely.
5. DirectTax:Adirecttaxisthatwhichispaiddirectlybysomeonetotaxingauthority.Incometaxandpropertytaxareanexamplesofdirecttax.Theyarenotshiftedtosomebodyelse.
6. IndirectTax:Thistypeoftaxisnotpaidbysomeonetotheauthoritiesanditisactuallypassedontotheotherintheformofincreasedcost.Theyareleviedongoodsandservicesproducedorpurchased.ExciseTax,SalesTax,Vat,Entertainmenttaxareindirecttaxes.
7. NOSTROAccount:ANostroaccountismaintainedbyanIndianBankintheforeigncountries.8. VOSTROAccount:AVostroaccountismaintainedbyaforeignbankinIndiawiththeircorrespondingbank.9. SDR(SpecialDrawingRights):SDRarenewformofInternationalreserveassets,createdbytheInternational
MonetaryFundin1967.ThevalueofSDRisbasedontheportfolioofwidelyusedcountriesandtheyaremaintainedasaccountingentriesandnotashardcurrencyorphysicalassetslikeGold.
10. Cheque:Chequeisanegotiable(whichcanbetransferredtoanotherpersoninexchangeofmoney)instrumentdrawnonaspecifiedbankerorderingthebankertopayacertainsumofmoneytothedrawerofchequeoranotherperson.Chequeisalwayspayableondemand.TypesofCheque:i.AnteDatedCheque:Achequebearingadatepriortoactualdateofsigningthechequeoropeningofanaccountiscalledanantedatedchequewhichisvalidandcanbepaidtillitbecomestale.ii.StaleCheque:Ifthevalidityofthechequehasalreadyexpireditiscalledstalechequewhichcannotbepaid.Thenormalmaximumvalidityofchequeis3monthsearlieritwas6months.iii.PostDatedCheque:Thechequewhichbearsadatesubsequenttothedateonwhichitisdrawn.Forex.Achequedrawnon10thJanuary,2013bearsthedateof12thJanuary,2013.
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11. CrossingofCheque:Crossingsreferstodrawingtwoparallellinesacrossthefaceofthecheque.Acrossedchequecannotbepaidincashacrossthecounter,andistobepaidthroughabankeitherbytransfer,collectionorclearing.AgeneralcrossingmeansthatchequecanbepaidthroughanybankandaspecialcrossingmeanswherethenameoftheBankisindicatedonthechequecanbepaidonlythroughthenamedbank.DishonourofCheque:Nonpaymentofchequebythepayingbankerwithareturnmemogivingreasonsforthenonpayment.
12. DemandDraft:Demanddraftisdefinedasanordertopaymoneydrawnbyoneofficeofabankuponanotherofficeofthesamebankforasumofmoneypayabletoorderondemand.ChequeandDemanddraftbothareusedfortransferofmoney.Differenceb/wCheque&DD:AchequecanbebouncebutD.Dcannotbebounceasitisalreadypaid.
13. Currentaccount:Currentaccountwithabankcanbeopenedgenerallyforbusinesspurpose.Therearenorestrictionsonwithdrawalsinthistypeofaccount.Nointerestispaidinthistypeofaccount.
14. NEFT(NationalElectronicFundTransfer):NEFTenablesfundstransferfromonebanktoanotherbutworksabitdifferentlythanRTGS.NEFTisslowerthanRTGS.ThetransferisnotdirectandRBIactsastheserviceprovidertotransferthemoneyfromoneaccounttoanother.YoucantransferanyamountthroughNEFT,evenarupee.
15. RTGS(Realtimegrosssettlement):RTGSsystemisfundstransfersystemswheretransferofmoneyorsecuritiestakesplacefromonebanktoanotherona"realtime"andon"gross"basis.Settlementin"realtime"meanspaymenttransactionisnotsubjectedtoanywaitingperiod.Thetransactionsaresettledassoonastheyareprocessed.Minimum&MaximumLimitofRTGS:2lakhandnoupperlimit.
16. BOND:Publiclytradedlingtermdebtsecuritiesissuedbycorporationsandgovernments,wherebytheissueragreestopayafixedamountofinterestoveraspecifiedperiodoftimeandtorepayafixedamountofprincipalmaturity.
17. CallMoney:CallMoneyistheborrowingorlendingoffundsfor1day.18. NoticeMoney:Moneyborrowedorlendforperiodbetween2daysand14daysitisknownasNoticeMoney19. TermMoney:TermMoneyreferstoborrowing/lendingoffundsforperiodexceeding14days20. CRAR(CapitaltoRiskWeightedAssetsRatio):Capitaltoriskweightedassetsratioisarrivedatbydividingthe
capitalofthebankwithaggregatedriskweightedassetsforcreditrisk,marketriskandoperationalrisk.21. NonPerformingAssets(NPA):Anasset,includingaleasedasset,becomesnonperformingwhenitceasesto
generateincomeforthebank.22. INFLATION:inflationisariseinthegenerallevelofpricesofgoodsandservicesinaneconomyoveraperiodof
time.Whenthegeneralpricelevelrises,eachunitofcurrencybuysfewergoodsandservices.Consequently,inflationreflectsareductioninthepurchasingpowerperunitofmoneyalossofrealvalueinthemediumofexchangeandunitofaccountwithintheeconomy.
23. DEFLATION:deflationisadecreaseinthegeneralpricelevelofgoodsandservices.Deflationoccurswhentheinflationratefallsbelow0%(anegativeinflationrate).Thisshouldnotbeconfusedwithdisinflation,aslowdownintheinflationrate(i.e.,wheninflationdeclinestolowerlevels).
24. REFLATION:Whengovernmentwantstocontrolthedeflationcondition,thesuggestsRBItodecreasethekeyrates.Ifdeflationinnotcontrolled,govt.makesafiscalpolicy.(taxesdecreased,subsidyonloanincreased).
25. DISFLATION:Whengovernmentwantstocontroltheinflationcondition,thesuggestsRBItoincreasethekeyrates.Ifinflationinnotcontrolled,govt.makesafiscalpolicy.(taxesincreased,subsidyonloandecreased)
26. DoubtfulAsset:Anassetwouldbeclassifiedasdoubtfulifithasremainedinthesubstandardcategoryforaperiodof12months.
27. CASADeposit:DepositinbankincurrentandSavingsaccount.28. LiquidAssets:Liquidassetsconsistsofcash,balanceswithRBI,balancesincurrentaccountswithbanks,moneyat
callandshortnotice,interbankplacementsduewithin30daysandsecuritiesunderheldfortradingandavailableforsalecategoriesexcludingsecuritiesthatdonothavereadymarket.
29. Importparityprice(IPP):Thepricethatapurchaserpaysorcanexpecttopayforimportedgoodssuchaspetrol,dieselorcookinggas.Theimportparityprice(IPP)isthepriceattheborderofagoodthatisimported,whichincludesinternationaltransportcostsandtariffs.TheIPPisusedinInternationaltradeandissometimesreferredtoastheInternationalBenchmarkPrice.
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30. Exportparityprice(IPP):Thepricethataproducergetsorcanexpecttogetforitsproductifexported,equaltotheFreightonBoardpriceminusthecostsofgettingtheproductfromthefarmorfactorytotheborder.TheEPPappliesonlytothequantitythatisexportedandnottothequantitythatissolddomestically
31. ParticipatoryNotesorPnotes:arederivativeinstruments,usedbyForeignInstitutionalInvestors(FIIs)whoareNOTregisteredwithSEBI.PNotes,mostlyusedbyoverseasHNIs(HighNetworthIndividuals),hedgefundsandotherforeigninstitutions,allowthemtoinvestinIndianmarketsthroughregisteredForeignInstitutionalInvestors(FIIs),whilesavingontimeandcostsassociatedwithdirectregistrations.
32. Devaluation:meansofficialloweringofthevalueofacountry'scurrencywithinafixedexchangeratesystem,bywhichthemonetaryauthorityformallysetsanewfixedratewithrespecttoaforeignreferencecurrency.
33. Depreciation:isusedtodescribeadecreaseinacurrency'svalue(relativetoothermajorcurrencybenchmarks)duetomarketforces,notgovernmentorcentralbankpolicyactions.
NewAppointmentinIndia
1. NarendraDamodardassModisworninasthe15thPrimeMinisterofthecountry.
ThelistofCabinetMinistersincludes:
2. RajnathSingh:HomeMinster3. SushmaSwaraj:ExternalAffairs&OverseasIndianAffairs4. ArunJaitley:FinanceCorporateAffairs&Defence5. M.VenkaiahNaidu:UrbanDevelopmentHousingandUrbanPovertyAlleviation&ParliamentaryAffairs6. NitinJairamGadkari:RoadTransportandHighwaysShipping+RuralDevelopment,PanchayatiRaj&Drinking
WaterandSanitationNote:NitinJairamGadkarigivenadditionalchargeofRuralDevelopment,PanchayatiRaj&DrinkingWaterandSanitationasGopinathMundediedinRoadaccident.
7. D.V.SadanandaGowda:Railways8. UmaBharati:WaterResources,RiverDevelopmentand
GangaRejuvenation9. Dr.NajmaA.Heptulla:MinorityAffairs10. RamvilasPaswan:ConsumerAffairs,FoodandPublic
Distribution11. KalrajMishra:Micro,SmallandMediumEnterprises12. ManekaGandhi:WomenandChildDevelopment13. Ananthkumar:ChemicalsandFertilizers14. RaviShankarPrasad:CommunicationsandInformationTechnology&LawandJustice15. AshokGajapathiRaju:CivilAviation16. AnantGeete:HeavyIndustriesandPublicEnterprises17. HarsimratKaurBadal:FoodProcessingIndustries18. NarendraSinghTomar:Mines&SteelLabourandEmployment19. JualOram:TribalAffairs20. RadhaMohanSingh:Agriculture21. ThaawarChandGehlot:SocialJusticeandEmpowerment22. SmritiZubinIrani:HumanResourceDevelopment23. Dr.HarshVardhan:HealthandFamilyWelfare
24. SumitraMahajan:newLokSabhaSpeaker25. ChandrababuNaidusworninasFirstChiefMinisterofAndhraPradesh.
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26. KChandrasekharRao(KCR)wassworninasitsfirstChiefMinisterofTelangana27. FinanceMinisterArunJaitleyhasbeenappointedontheBoardofGovernorsofPhilippinesbasedAsian
DevelopmentBank(ADB).28. MallikarjunKhargeelectedleaderofCongressinLokSabha.29. NripendraMishraappointedPrincipalSecretarytoPM30. MukulRohatgiappointed14thNewAttorneyGeneralofIndia.HereplaceG.E.Vahanvati31. AjitKumarDovalappointedasnewNationalSecurityAdvisor32. KamalNathappointedprotemSpeakerof16LokSabha33. RajivMathurtakesoverasNewCIC(ChiefInformationCommissioner).HesucceedsSushmaSingh,34. AnandibenPatel:newCMofGujarat35. NaveenPatnaiksworninasOdishachiefminister36. PawanChamlingswornSikkimCMforrecord5thtime37. JitanRamManjhi:newBiharCM38. TRZeliangappointednewCMofNagaland.HesucceedNeiphiuRio39. RKMalhotra,Director(R&D)atIndianOilCorp(IOC),hasbeengivenadditionalchargeasChairman40. NKVermaisnewONGCVideshMD41. NabamTukisworninasCMofArunachalPradeshforsecondterm.
NewAppointmentinWorld
1. PrinceZeidalHussein(Jordansambassador)nominatedasU.N.HighCommissionerforHumanRights2. BasharalAssadelectedSyrianPresidentthirdtime3. DaliaGrybauskaite:PresidentialelectionofLithuania4. PeterMutharikaisnewMalawipresidential5. AbdelFattahAlSissielectedasEgypt'snewPresident6. JacobZumasworninasSouthAfrica'sPresidentforsecondterm7. PetroPoroshenko:NewPresidentofUkraine8. HiroshiNakaappointedasVicePresidentandAuditor
GeneralofWorldBank.9. KathleenStephensNamedInterimUSAmbassadorto
India.
SUMMIT
1. 40thG7summit2014heldatBrussels.Note:ItwasthefirsttimethattheEUhostedaG7summit.ThesummitisjointlyrepresentedbytheEuropeanCouncilPresidentHermanvanRompuyandtheEuropeanCommissionPresident.Note:Originally,aG8summitwasscheduledtotakeplaceinSochi(Russia)inearlyJune2014underaRussianpresidency.DuetotheRussianFederation'sviolationofUkraine'ssovereigntyandterritorialintegrity,theG7leadersdecidedtomeetinBrusselson45June2014intheG7formatinstead.
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Awards&Honours
1. VishwanathTripathi,eminentHindiwriteron29May2014wasawardedwiththeprestigiousVyasSammanfortheyear2013.
2. IrishauthorEimearMcBridewonthe2014Bailey'sWomen'sPrizeforFictionforherfirstnovelAGirlisaHalfFormedThing.
3. ProjectMobileSevaunderDeitYwonthe2014UnitedNationsPublicServiceAwardNote:TheprojectMobileSevaunderDepartmentofElectronicsandInformationTechnology(DeitY)wonsecondrankinthe2014UnitedNationsPublicServiceAward.DepartmentofElectronicsandInformationTechnologycomesunderMinistryofInformationandTechnology.
LEADERSVISITEDINIDIA
1. ChineseForeignMinisterWangYivisitedIndiaon7thJune
2. OmanForeignMinisterYousufbinAlawibinAbdullahvisitedIndiaon3rdJune.
OBITUARY1. GopinathMunde:RuralDevelopmentMinisterpassesaway2. IdeologistandSanskritScholarSukumariBhattacharjidied3. FatherofMalaysianHockeySultanAzlanShahpassesaway4. VeteranCPI(M)leaderR.Umanathpassedaway5. MadhavMantri,acricketingdoyen,passesaway6. VeteranCongressleaderandformerministerSitaram
Prasadpassedaway7. NSrinivasan,theveterannuclearscientistdied8. SirJackBrabham,threetimeF1championpassesaway
SportsNews
Tennis:FrenchOpen2014:MensTitle:RafaelNadalclinchesrecordninthFrenchOpentitle.HedefeatedNovakDjokovicinthefinal. Note:RafalNadalnowwon14GrandSlamsinglestitlestillnow.WomensTitle:MariaSharapovadefeatSimonaHaleptowinFrenchOpenTitlesecondtime.Note:MariaSharapovanowwon5thGrandSlamtitle. ItalianTennisOpen2014:Women'sTitle:SerenaWilliamsdefeatedSaraErrani.
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Men'sTitle:NovakDjokovicdefeatedRafaelNadalIPL7:KolkataKnightRidersdefeatKingsXIPunjabtoliftIPL7Trophyforsecondtime.Ceatawards2014:Theawardwinners:CricketeroftheYear:ViratKohli(India);ODIPlayeroftheYear:ShikharDhawan(India);T20PlayeroftheYear:ShakibAlHasan(Bangladesh);TestPlayeroftheYear:MitchellJohnson(Australia);
PopularChoiceaward:GlennMaxwell(Australia);YoungPlayeraward:VijayZol(Maharashtra)DomesticCricketeroftheYear:RobinUthappa(India)SpecialawardforIndianPlayeroftheYear:RAshwin(India)LifetimeAchievementaward:SyedKirmani(India).
1. ChinadefeatedJapantowonUberCup2014ofbadminton2. JapandefeatedMalaysiatoliftmaidenThomasCupBadmintontrophy2014.3. JapanbeatAustraliainWomen'sAsianCupFootballfinal.4. IndianbattingstarViratKohlihasbeenratedsecondbehindBritishFormulaOneracerLewisHamiltoninthelistof
mostmarketableathletesbytheUKmagazine,'SportsPro'.5. SnookerChampionChitranominatedforArjunaAwards20146. MadhyaPradeshHockeyAcademy(MPHA)defeatedJharkhand52towinthefourthHockeyIndiaSubJuniorGirls
NationalChampionship(DivisionA)inPune7. MercedesdriverNicoRosbergofGermanywonMonacoGrandPrixofFormulaOne8. HashimAmlaappointedasnewtestcaptainofSouthAfricancricketteam.9. AbdeVilliersnamedSouthAfricanCricketeroftheYear10. TriplejumperArpinderSinghbreaksnationalrecord,qualifiesforGlasgowCommonwealthGames11. DanielRicciardowontheCanadianGrandPrix2014.
HeadquarterofInternationalOrganisation
UNO NewYork UNICEF NewYork UNESCO Paris UNIDO Vienna WHO Geneva UNFPA NewYork SAARC Kathmandu ILO Geneva WorldBank WashingtonD.C IMF WashingtonDC WTO Geneva InternationalCourtOfJusticeTheHague
InternationalAtomicEnergyAgencyVienna InternationalCommitteeoftheRedCrossGeneva InternationalMaritimeOrganisationLondon FoodandAgriculturalOrganisationRome WorldMeteorologicalOrganisationGeneva AmnestyInternational London TransparencyInternational Berlin WorldIntellectualPropertyOrganizationGeneva InternationalRenewableEnergyAgencyAbu
Dhabi(UAE) CommonwealthofNationsLondon InternationalStandardsOrganisationGeneva
IMPORTANTDATES&DAYSOF:JANJULY
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DATE DAY
12thJanuary NationalYouthday15thJanuary Armyday24thJan NationalGirlChildDay.
25thJanuary Nationaltourismday/Voters
day
30thJanuary NationalMartyrsday&WorldantiLeprosyDay
3rdFeb WorldCancerDay.28thFeb Nationalscienceday8thMarch Internationalwomenday
9thMarch WorldKidneyday
1stMarch ZeroDiscriminationDay15thMarch WorldConsumerrightsday20thMarch WorldSparrowDay&
InternationalHappinessDay.
22ndMarch Worldwaterday(Theme2014:Water and Energy)
23rdMarch WorldMeteorologicalday
24thMarch WorldT.B.day
2April WorldAutismAwarenessDay
7thApril WorldHealthday
21stApril Civilserviceday
22ndApril WorldEarthday
23rdApril WorldBooksday24thApril PanchayatDivas1stMay InternationalLabourday3rdMay PressFreedomDay
11thMay NationalTechnologyday21stMay AntiTerrorismday(Death
dayofRajivGandhi)
31stMay AntiTobaccoday(Nosmokingday)
5thJune WorldEnvironmentday
11thJuly Worldpopulationday
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ABBREVIATIONINNEWS1. DICGC:Depositinsuranceandcreditguaranteecorporation.2. OLTAS:OnlineTaxAccountingSystemisusedforDirectTaxes3. TIN:TaxInformationNetwork4. IMPS:InterbankMobilePaymentService5. BSBDABasicSavingsBankDepositAccount6. FCNR(B)ForeignCurrencyNonResidentBank7. TARCTaxAdministrationReformCommission8. ITEs:IntraGroupTransactionsandExposures9. LCR:LiquidityCoverageRatio10. NSFR:NetStableFundingRatio11. REER:RealEffectiveExchangeRate12. LRMT:Liquidityriskmonitoringtools13. CBS:CoreBankingSolution14. DEAF:DepositorEducationandAwarenessFund15. CRAR:CapitaltoRiskweightedAssetsRatio16. ExternalCommercialBorrowings(ECB)17. SWIFT:SocietyforWorldwideInterbankFinancial
Telecommunication18. FSLRC:FinancialSectorLegislativeReformsCommission19. MIBOR:MumbaiInterBankOfferRate20. LIBOR:LondonInterBankOfferRate21. LAFLiquidityAdjustmentFacility22. GIROGovernmentInternalRevenueOrder23. EEFCExchangeEarner'sForeignCurrency24. FRBMA:FiscalResponsibilityandBudgetManagementAct25. ALMAssetLiabilityManagement26. AMFIAssociationofMutualFundinIndia.27. TIEATaxInformationexchangeAgreement28. CARCashAdequacyRatio29. CCEACabinetCommitteeonEconomicAffairs30. CECAComprehensiveEconomicCooperationAgreement31. CEPAComprehensiveEconomicPartnershipAgreement32. DTAADoubleTaxationAvoidanceAgreement33. ECBsExternalCommercialBorrowings34. EEFCExchangeEarner'sForeignCurrency35. EFSFEuropeanFinancialStabilityFacility36. FEMAForeignExchangeManagementAct37. FIIForeignInstitutionalInvestor.38. FINOFinancialInclusionNetworkOperation39. FIPBForeignInvestmentPromotionboard40. FSLRCFinancialSectorLegislativeReformsCommission41. FTAFreetradeagreement42. GAARGeneralantiavoidancerule43. GSLVGeoSynchronousLaunchVehicle44. MSFMarginalStandingFacility45. NBFCNonBankingFinanceCompanies46. NCTCNationalCounterTerrorismCentre47. NEFTNationalElectronicFundsTransfer48. NSGNuclearSuppliersGroup49. PPPPublicPrivatePartnership&PurchasingPowerparity50. PSLVPolarSatelliteLaunchvehicle51. RTGSRealTimeGrossSettlement52. SLRStatutoryLiquidityRatio53. TAPITurkmenistanAfghanistanPakistanIndia.54. QFIQualifiedForeignInvestors55. VVPAT'VoterVerifiablePaperAuditTrail'56. TaxInformationExchangeAgreement(TIEA)