UNION BUDGET: 2013-14

Budget Special | Budget Chart |Budget Terms

Bankers Algo News Capsules- Part 3

Month: March-April 2013
Best Economic Financial and Business General Awareness News Capsule for IBPS, SBI, SSC, UPSC, RBI, IAS

Also Includes: Awards, Appointments and Economic Terms

60th National Awards

Prepared By: Atul Joshi Founder: EEPL

Few words with Founder Director

can get many opportunities by chance, but remember your future dreams are by choice and not by chance This is our fifth edition of monthly news capsule. After some reviews and feedbacks we came up with much better
way of presenting this news capsule. This edition is presented with 30 points wise news each for a particular day, with some markers and hints indicator. The quick review of last month capsule is tested along with objective questions in five quizzes at different intervals. For any minor issues Bankers Algo Team will be highly obliged if you can provide us the valuable feedback along with better ways to come up, so you can mail me directly at ajoshi.biz@gmail.com. This news capsule is made in the line for the preparation of various entrance exams which test the general awareness of the candidate. Different analytical data and news are taken as reference from various sources, like Indian Express, Times of India, The Hindu, The Economic Times, BBC, Deccan Herald, World News, Financial Times, The Economist, etc. All important abbreviations are marked with highlighters, different chiefs and heads are also indicated with markers, these indicators are made in the sense for quick review of news whenever needed, instead of going through all the text in capsule. Although the answers of the quiz are given at the end of the booklet, but it is recommended to give the quiz as a testing mode. Mark the questions that are incorrect and instead of looking at the answers try to Google the answers and give a try at the options once more. I want to give special thanks to all for providing me the valuable feedbacks and critics. We are continuously working on improving the content and coming up with more options to help you in the best possible manner. Till then Stay Connected, Stay Alert with Bankers Algo. You

Bankers Algo Team wishes you a very Happy Holi and Good Friday
Atul Joshi (ajoshi.biz@gmail.com) NIT Allahabad Founder: Eduzire Education Private Limited #Bankers Algo

Use of indicators and markers

Sensei!! our Bankers Algo Guru

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The Eagle
Once a farmer found an abandoned eagle's nest with 3 eggs but one was still warm. He took the egg back to his farm and laid it in the nest of one of his hens. The egg hatched and the baby eagle grew up along with the other chickens. It pecked about the farmyard, scrabbling for grain. It spent its life within the yard and rarely looked up. When it was very old, one day it lifted up its head and saw above it a wonderful sight - an eagle soaring high above in the sky. Looking at it, the old creature sighed and said to itself, "If only I'd been born an eagle".

Your dreams are your own and only you can achieve them by working for it and facing the difficulties in the path. In the above story that eagle was just given the opportunity to survive among its other siblings, it was the only egg that survived, but just getting the opportunity is not enough, you have to give a trial to get that opportunity, else you may never know what is cooked for you. Have given a try, might be that baby eagle would have been among other eagles in the sky. So dreaming does not solve your purpose, always give a trial, who knows that you are the eagle deep within, who can move higher and higher with flying colours of success.

- Get Inspired with Bankers Algo

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30 points news for revision

Sebi issues guidelines for Indian Depository Receipts conversion Market regulator Sebi came out with a detailed framework for conversion of Indian Depository Receipts into equity shares, as part of efforts to attract more foreign companies to get listed on domestic bourses. Indian shareholders can convert their depository receipts into equity shares of the issuer company and vice-versa. IDRs are generally instruments denominated in rupees and allow overseas companies to raise funds from the Indian market. IDRs cannot be redeemed into underlying equity shares for a period of one year from the date of its listing Digitisation Phase II: Over 55 per cent target achieved Over 55 % target has been achieved in 38 cities that are set for digitisation. According to data received from Direct-ToHome (DTH) operators and Multi System Operators (MSOs), a total of 87.7 lakh set top boxes (STBs) have been installed in Phase-II cities as on February 22 against the target of 1.6 crore. Out of a total 87.7 lakh, DTH connections accounted for 40.7 lakh, whereas cable STBs accounted for 47 lakh. The I&B ministry has been monitoring the preparedness for the implementation of digital addressable cable TV system in 38 cities spread across 15 states for Phase II of digitisation. _______________________________________________________________________________________________ Government withholds I-T refunds worth Rs 43.5k cr to earn interest of Rs 15k cr A cashstrapped UPA government seems to be withholding income tax refunds to multiply its own income. The government has been earning more than Rs 15,000 crore annually by delaying refunds to the tune of Rs 43,500 crore over the past four years. And if one discounts the interest outgo the amount the government has paid to assesses at the time of refunds it still has managed to make Rs 16,200 crore between 2007-08 and 2010-11. _______________________________________________________________________________________________ Indias manufacturing activity growth improves in February Indian manufacturing activity growth improved in February due to strong growth in domestic orders and strengthening of international demand. The index has remained above the 50 mark, which separates growth from contraction, for more than three years now. Indias economic growth dropped to decade low of 4.5% in the third quarter (October-December) of the current financial year. Recently Indias overall inflation dropped to 6.62% in January. _______________________________________________________________________________________________ MNREGA workers to get more wages MNREGA workers will now get more money with the Centre revising their wages from April 1 under which the maximum daily wage of Rs 214 has been fixed for Haryana while Bihar, Sikkim, Tripura, Nagaland and Arunachal Pradesh will get the minimum of Rs 135. The notification regarding revising MNREGA wage rates is linked to the Consumer Price Index for Agricultural Labour (CPIAL) from April 1 every year. In March 2011, after inter-ministerial consultations, the government had decided that the revision of MNREGA wage rates indexed to the CPIAL would be done annually and thereafter it was decided that this revision would become effective from April 1 each year. RBI's easing of rupee open position limits to improve liquidity The Reserve Bank of India's decision to remove restrictions on open position limits for rupee currency pairs should improve liquidity in foreign exchange markets, traders. The RBI had reduced the net overnight open position limit for the rupee in late 2011, when the currency was slumping, to cut down on speculative trading. That had forced traders to square their trades at the end of each session. _______________________________________________________________________________________________ Bankers Algo | IBPS & RBI Prep| www.bankersalgo.com MIG A-4 Sector- C Aliganj Lucknow | Call: 9919623796 Page 5

4.

3.

2.

1.

Nabard fund allocation extension of announcement in budget 2012 The Rs 5,000 crore fund allocation to NABARD for financing construction of warehouses and window to panchayats to finance construction of godowns, made during Union Budget 2013-14, is a continuation of an announcement made during last year's budget. It provides an operational plan (or) process to distribute the Rs 5,000 Crore fund allocated for development of agriculture specific warehousing facilities. Financial inclusion an important criteria for new bank licences: RBI Financial inclusion will be one of the most important criteria for granting banking licences to new players. It (financial inclusion) is a very important criteria for evaluating their applications. Last month, RBI had released final guidelines for new banking licences specifying that the proposed banks would need to set up at least 25 per cent of their branches in unbanked areas for achieving financial inclusion. ___________________________________________________________________________________________________

6. 8. 7. 9.

5.

India to raise 30,000 troops for border with China Working towards upgrading its military infrastructure along border with China, India will raise another 30,000 troops for the infantry battalions of its Army. "30 infantry battalions are proposed to be raised in the 13th Five year Plan towards enhancing combat capacity. The Indian Army is planning to raise a Strike Corps for deployment along the China border which would mean raising of additional 90,000 troops for the force. The Army has plans of raising the additional troops in the 12th and the 13th five-year defence plan periods. The Corps is proposed to be headquartered at Panagarh in West Bengal with its formations spread around north-eastern states sharing boundaries with China. ___________________________________________________________________________________________________ EXIM plans to raise Rs 1 billion via bonds Exim Bank plans to raise Rs 1 billion via 12-year bonds at 8.87 per cent, a source with knowledge of the deal said on Thursday. Trust Capital is the sole arranger to the deal. ___________________________________________________________________________________________________ World Bank chief Jim Yong Kim to visit India on March 11, to meet Prime Minister, Finance Minister World Bank President Jim Yong Kim is on a three-day visit to India beginning March 11 to gather information on development challenges being faced by the country and look at opportunities for enhancing its role in reducing poverty at an accelerated pace. This will be Kim's first visit to India after taking over as President of the World Bank Group Forex reserves down by $ 1.34 billion to $ 290.57 billion Forex reserves continued their slide for the third consecutive week, slipping by $ 1.34 billion to $ 290.57 billion on a dip in currency assets and gold reserves, the Reserve Bank said today. The total foreign exchange reserves had declined by $ 1.60 billion to $ 291.92 billion. Foreign currency assets, a major component of the forex reserves, were down by $ 621.1 million to $ 257.61 billion for the week ended March 1, Reserve Bank's weekly statistical supplement said today. ___________________________________________________________________________________________________ IAEA chief to arrive India on five-day visit The chief of global nuclear watchdog IAEA, Yukiya Amano, is arriving on a five-day visit to India beginning Monday.Amano, who was re-elected as the Director-General of the International Atomic Energy Agency on Wednesday, is expected to hold discussions on nuclear safety and related issues with Indian leaders in Mumbai and New Delhi. He is also scheduled to deliver the Indian Nuclear Society Silver Jubilee lecture in Mumbai on 'IAEA Perspectives on Future of Nuclear Energy' on Monday in Mumbai. ___________________________________________________________________________________________________ Bankers Algo | IBPS & RBI Prep| www.bankersalgo.com MIG A-4 Sector- C Aliganj Lucknow | Call: 9919623796 Page 6

10. 11. 12. 13.

FDI inflows dip 34 per cent to $22.7 billion in 2012 India has attracted foreign direct investment (FDI) of $22.78 billion in 2012, a decline of 34 per cent over the previous year due to global economic uncertainties. The country had attracted FDI of $34.62 billion in 2011, according to the Department of Industrial Policy and Promotion data. "The dip in foreign direct investment (FDI) inflows is mainly due to uncertainties in the global economy". In 2012, the country received the highest FDI of $4.67 billion in September followed by $2.21 billion in February and $2 billion in January 2012. ___________________________________________________________________________________________________ Exports up 4.25 per cent in Feb; Govt to announce sops in FTP India's exports for the second straight month in February grew by 4.25 per cent to $ 26.26 billion. With a view to boost exports, the government will announce incentives for exporters in the forthcoming foreign trade policy (FTP). Exports had entered positive zone after a gap of eight months, recording a 0.82 per cent growth in January. The decline has been arrested. Sectors which have large weightage especially engineering has started performing better and refined oil too. Government to get around Rs 3,639 crore from CDMA spectrum auction The government will get around Rs 3,639 crore from the 2G spectrum auction for CDMA services, which ended today with Russian conglomerate Sistema's Indian unit SSTL being the only bidder. The auction, which lasted just around four hours, drew no bids for Mumbai, Maharashtra and UP East. The auction for 2G spectrum for GSM players held in November last year was spread across three days fetching the government Rs 9,407 crore. Rajya Sabha passes SEBI bill for appointing SAT head Rajya Sabha passed a bill seeking to broaden the criterion for appointment of Presiding Officer of the Securities Appellate Tribunal (SAT), a statutory body that adjudicates on appeals against orders passed by SEBI. The Securities and Exchange Board of India (Amendment) Bill, 2013 seeks to include the criterion of appointing a retired High Court judge having held the position for seven years for heading the Tribunal. The bill, passed by voice vote, paves way for appointment of SAT chief, a post lying vacant for over a year. ___________________________________________________________________________________________________ Current account deficit rises to 5.4 % in Q2 Indias Current Account Deficit (CAD) as a percentage of gross domestic product (GDP) rose to an all-time high of 5.4 per cent in the second quarter of 2012-13 on account of widening of trade deficit and slower growth in invisibles. The rise in CAD to GDP ratio was partly due to slower growth in GDP and rupee depreciation. Adding that a steeper decline in exports growth (12.2 per cent year-on-year) compared with imports growth (4.8 per cent year-on-year) led to widening of trade deficit. The trade deficit widened to $48.3 billion during the quarter under review from $44.5 billion during the corresponding quarter of the previous year. __________________________________________________________________________________________________ IMF's David Lipton urges banking sector clean-up to boost economy Global economic conditions remain subdued despite a rally in financial markets and policymakers need to act to address underlying risks, including dealing with damaged banks, a top IMF official said on Tuesday. David Lipton, the International Monetary Fund's first deputy managing director, said further improvements in the economic outlook will require repairing bank balance sheets and in some cases banks may need to be closed. ___________________________________________________________________________________________________ Revenue expenditure does not help in creation of assets; whereas capital expenditure is on assets management and special loans. At the same time capital receipts, non-debt or debt, are mostly borrowings received, however, revenue receipts are mostly direct transfer to government. Bankers Algo | IBPS & RBI Prep| www.bankersalgo.com MIG A-4 Sector- C Aliganj Lucknow | Call: 9919623796

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14.

25

Inflation Percent in Feb 2013 over 2012

20 15 10 5 0 Cereal Milks Gener Pulses Oils & Vegita s& & Fruits al Produ Fats Produ bles Produ Index ct cts cts 17.04 12.39 14.5 8.06 21.29 10 Food Fuel & & Sugar Brever Lights ages 12.1 13.73 8.67

Inflation percent 10.91

Retail inflation inches up to 10.91 % At this level, CPI inflation has remained sticky at double digits for three months in a row and gradually inching up further at a sustained pitch from 9.90 per cent in November, to 10.56 per cent in December 2012 and further to 10.79 per cent in January and still higher at 10.91 per cent in February this year. India received $70 bn in remittances in 2012 India received $ 70 billion in remittances in the year 2012. India had received over $ 66.13 billion in remittances in the year 2011-12 while in 2010-11, the amount was $ 55.62 billion. The remittances to the country through private transfer of funds have been on the rise in the last few years. India received $ 53.63 billion in 2009-10 while in 2008-09, the amount was $ 46.9 billion. __________________________________________________________________________________________________ Services exports in Jan up 8% at $13.90 bn: RBI India's services exports in January, 2013 stood at $13.89 billion, up 7.9 per cent from a month ago, according to the Reserve Bank of India. The services exports in December, 2012 stood at $12.88 billion. Imports of services also moved up to $7.52 billion in January from $6.76 billion in the previous month, as per the RBI data. The services sector contributes about 55 per cent to the country's gross domestic product. During April-January period of 2012-13, the cumulative services receipt or exports have amounted to $118.90 billion. Imports of services were valued at $67.34 billion during the first ten months of the current financial year. RBI releases the provisional aggregate monthly data on India's international trade in services with a lag of 45 days. 63 proposals approved for FDI in single-brand retail: Anand Sharma Government has approved 63 proposals for FDI in single brand retail so far, Union. "Government has received and approved 63 proposals for FDI in single brand retail so far. __________________________________________________________________________________________________ Drones, a violation of Pak. sovereignty: U.N. After extensive discussions with officials in Pakistan, a U.N. special envoy has concluded that the U.S. drone strikes in the countrys tribal belt constitute a violation of sovereignty. It does not consent to the use of drones by the United States on its territory and it considers this to be a violation of Pakistans sovereignty. Pakistans Foreign Affairs Ministry had confirmed that since mid-2010 [and to date] it has regularly sent notes verbale to the U.S. embassy in Islamabad protesting the use of drones on the territory of Pakistan... requiring the U.S. to cease these strikes immediately __________________________________________________________________________________________________ Bankers Algo | IBPS & RBI Prep| www.bankersalgo.com MIG A-4 Sector- C Aliganj Lucknow | Call: 9919623796 Page 8

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GK Quiz 1
Q1. Which country is the world largest exporter of rice? a) India b) Vietnam c) Thailand Q2. Who is the executive director of SEBI? a) Vikram Pandit b) SV Muralidhar Rao d) Laos & Cambodia

c)Ashwani Kumar

d) None

Q3. Between 2009-10 and 2011-12, the total work generated by this flagship scheme declined from Rs 284 crore persondays to _____ crore persondays a) Rs 116 b) Rs 250 c) Rs 211 d) Rs 15 Q4. What is NDDB? a) National Dairy Development Board. c) National Dam Development Board.

b) National Data Development Board. d) None of these.

Q5. The government is considering enhancing the authorised capital of National Bank for Agriculture and Rural Development (NABARD) to Rs _______ crore from Rs 5,000 crore a) 5,500 b)10,000 c) 15,000 d) 20,000 Q6. Who among the following is the chairman of IRDA? a) J Hari Narayan b) Kamal Bawa c) Ranjit Vikram Q7. Corporate tax is included in which section? a) Indirect Tax b) Direct Tax

d) K Vaidyanathan

c ) Duties

d ) Customs

Q8. How much increase in net direct tax collection is achieved over a period of April, 2012 to January, 2013? a) 10.00% b) 00.00% c) 12.50% d)40.50% Q9. Projects aim to build new rail lines of 184.70 km through a joint venture with the Chhattisgarh government and ____ to help ferry coal from inaccessible mine pitheads to the market? a) Reliance India Ltd b) Coal India Limited c) Tata Locomotives d)None Q10. What is OMO used by RBI? a) On Market Operation b) Only Marginal Outgoing c) Open Market Operation d) Off Market Operation

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Foodgrain output likely to dip 3.5 pc in FY13 The overall food-grains production is expected to dip by 3.5 per cent to 250.1 million tonnes (MT) in 2012-13 due to estimated fall in kharif production, following weak monsoon. Irregular monsoon rainfall in 2012 had taken a toll on kharif cultivation and productivity. Engineering exports may dip by 6% in FY'13 to USD 56 billion India's engineering exports, which are hit hard by the global demand slowdown, is expected to decline by over 6 % and may touch USD 56 billion by the end of the current fiscal. The industry has fixed an export target of USD 60 billion for 2012-13. ____________________________________________________________________________________________________ Indian cash rates stay firm; liquidity further tightens India's overnight cash rates at 7.90/95 % versus the previous close of 7.85/7.95 %, as demand remains high following the advance tax outflows. Banks' borrowing from the RBI's repo window rises to Rs 1.43 trillion compared with Rs 1.35 trillion, highlighting the extent of cash tightness. Basel III requirements could increase pressure on Indian banks Higher capital requirement under Basel III will increase the pressure on Indian banks to raise capital and can lead to some changes in the industry. Indian Banks May Need INR2.6 Trillion Of Additional Capital By 2018 As They Strive To Meet Basel III Requirements. Starting April 1, 2013, Indian banks will begin to implement the new Basel III capital requirement, which will increase their capital requirement in phases. ____________________________________________________________________________________________________

19. 20.
Earth Day Forestry Day

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RBI cuts repo rate by 25bps to 7.5% The Reserve Bank of India (RBI) in its mid-quarter monetary policy review cut the repo rate by 25 basis points to 7.5% for the second time since the start of the year. The Cash Reserve Ratio (CRR) was kept unchanged. CRR refers to the portion of deposits banks have to mandatorily park with the RBI and the main tool through which the central bank manages liquidity.

Food Security Bill: 2/3rd of population to get foodgrain at Rs 1-3/kg The Cabinet has cleared the Food Security Bill to provide subsidised rice, wheat and cereals to two-thirds of the country's population, or 800 million people. The revised bill proposes to provide 5 kg of foodgrains per person every month-rice at 3 per kg, wheat at 2 per kg and cereals at 1 per kg. It will cover 75% of the rural population and 50% of the poor in urban India. International ____________________________________________________________________________________________________ FDI up 8 pc at $ 2.15 bn in Jan FDI grew by 8 % YoY to USD 2.15 billion in January. In January 2012, the country had received FDI worth USD 2 billion. However during the April-January period of the current fiscal, FDI declined by 39 per cent to USD 19.10 billion due to global economic uncertainties, an official in the Department of Industrial Policy and Promotion (DIPP) told PTI. During the same period of the previous fiscal, FDI inflows stood at USD 31.28 billion. Sectors which received large FDI inflows during the first 10 months of the current fiscal include services (USD 4.66 billion), hotel and tourism (USD 3.19 billion), metallurgical (USD 1.38 billion), construction (USD 1.20 billion) and Pharmaceuticals (USD 1 billion). World ____________________________________________________________________________________________________ (SIDBI) has signed a tripartite memorandum of understanding (MoU) with Social Fund for Development (SFD) Egypt and World Bank. It was signed in the presence of visiting Egyptian President, Mohamed Morsi, and Commerce and Industry Minister, Anand Sharma. It aims SIDBI and its associates to provide consultancy for a three-year period to SFD and, among other things, establish a credit guarantee system for micro, small and medium enterprises in Egypt. ____________________________________________________________________________________________________ Bankers Algo | IBPS & RBI Prep| www.bankersalgo.com MIG A-4 Sector- C Aliganj Lucknow | Call: 9919623796 Page 10

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22. 24. 25. 26. 27. 23.

Govt approves 12 FDI proposals worth over Rs 2,609 cr

Government has approved 12 FDI proposals, including that of pharma firm Claris Otsuka, totalling over Rs 2,609 crore. The Foreign Investment Promotion Board (FIPB) headed by Economic Affairs Secretary Arvind Mayaram, cleared the proposal of Decathlon Sports India's proposal for induction of foreign equity OF Rs 700 crore to engage in single brand retail.

Arunachal Pradesh becomes first state to introduces e-GPF Arunachal Pradesh became the first state to introduce e-GPF with the state Finance department facilitating online access to 34,000 GPF accounts through its redesigned website, which was formally launched by Chief Minister Nabam Tuki. __________________________________________________________________________________________________ Cyprus weighs big bank levy; bailout goes down to wire Cyprus was looking at seizing a quarter of the value of big deposits at its largest bank as it races to raise the funds for a bailout from the European Union and avert financial collapse. Significant progress" had been made in talks in Nicosia with officials from the European Union, European Central Bank and International Monetary Fund. Finance Minister Michael Sarris confirmed discussions were centred on a possible levy of around 25 percent on holdings of over 100,000 euros at Bank of Cyprus, and expressed hope that a package could be ready by the end of the day for approval by parliament. ___________________________________________________________________________________________________ DRDO developing ultra lightweight Unmanned Aerial Vehicle DRDO is developing an ultra light-weight Unmanned Aerial Vehicle which can be used by troops for reconnaissance of their area of operation. "The Micro Air Vehicle (MAV) has a span of 300 millimetre (mm) and weighs 300 grams. It has been equipped with day-light TV camera. Cruise speed is 20 knots (37 kmph) and operational altitude is 30-100 metres," ___________________________________________________________________________________________________ P-Notes investment rises to Rs 1.62 lakh crore in January Foreign investments into Indian markets through participatory notes (P-Notes), a preferred route for HNIs and hedge funds, stood at Rs 1.62 lakh crore (about $30 billion). According to Sebi, the cumulative value of P-Note investments in Indian markets (equity, debt and derivatives) was at Rs 1,62,139 crore at the end of January. In December, P-Note Investments in Indian markets was at Rs 1.51 lakh crore (around $28 billion). P-Notes, mostly used by overseas HNIs (High Networth Individuals), hedge funds and other foreign institutions, allow them to invest in Indian markets through registered Foreign Institutional Investors (FIIs), while saving on time and costs associated with direct registrations. ___________________________________________________________________________________________________ BRICS nations to take a call on setting up development bank The Summit of BRICS nations here tomorrow may take a call on the setting up of a development bank notwithstanding some key issues dogging it even as the leaders will advocate reforms of the global governance architecture. capital for the development bank, initially envisaged to be set up with a capital of USD 50 billion, to be shared equally by the five members. It is expected to take a decision on launching the BRICS bank that will fund infrastructure and development projects in the BRICS and other emerging economies and developing nations. ___________________________________________________________________________________________________ BRICS agrees to create $100 bn contingency fund In a major achievement for India in its campaign for reforming the international financial architecture, BRICS nations decided to establish a new development bank to finance infrastructure and to create a USD 100 billion Contingency Reserve Arrangement to tackle any financial crisis in the emerging economies. The decision was taken to launcha Business Council to encourage investment and trade in member countries and to expand business cooperation ___________________________________________________________________________________________________ _ Bankers Algo | IBPS & RBI Prep| www.bankersalgo.com Page 11 MIG A-4 Sector- C Aliganj Lucknow | Call: 9919623796

Indias Fiscal deficit has touched 97.4% of the budget estimates during the first eleven months (April-February) of the current financial year 2012-13. In absolute terms, the fiscal deficit stood at over Rs 5.07 lakh crore at the end of February compared to Rs 5,13 lakh crore (or 5.1% of GDP) estimated in the budget for 2012-13. Rising fiscal deficit has become the biggest concern for Indian government now as it can attract credit rating downgrade by the global credit rating agencies. ___________________________________________________________________________________________________ India's forex reserves jump $1 billion to $ 293.37 billion Indias foreign exchange reserves rose for the second consecutive week, going up by $ 1.05 billion to $ 293.37 billion on a rise in the core currency assets. The total reserves had risen by nearly $ 2 billion to $ 292.3 billion in the previous week. Foreign currency assets, a major component of the forex reserves, were up by $ 1.06 billion to $ 260.41 billion for the week ended March 22. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves. The gold reserves remained unchanged at $ 26.292 billion. ___________________________________________________________________________________________________ ADB to sanction USD 300 mn loan to Uttarakhand: Vijay Bahuguna The Asian Development Bank has decided to extend a loan of USD 300 million to Uttarakhand to help the state government accelerate work on power generation and transmission projects. TCUL MD S S Yadav said the corporation would strengthen the transmission system at a cost of Rs 1,464 crore. He said PTCUL was setting up a 400 KV substation at Srinagar which would provide electricity in Alakananda River valley area. Forex Reserves increased by USD 1.05 billion to 293.36 billion Indias Forex reserves were increased by USD 1.05 billion to 293.36 billion This increase was mainly due to increase in the reserve portion in the Foreign Currency Assets. The Foreign Currency Assets (FCA) was increased by USD 1.061 billion to 260.415 billion for the same week. However the SDRs (Special Drawing Rights) and Reserve portion with IMF were decreased by USD 7.5 million and USD 4.1 million respectively for the same week. Gold values remained unchanged at USD 26.292 billion for the same reporting week. ___________________________________________________________________________________________________ Madhya Pradesh has displaced Bihar to become the state with highest growth of gross state domestic product for current financial year 2012-13. As per the provisional data released by the Central Statistical Organisation (CSO) for 2012-13 for states shows Bihars growth has slowed to 9.48% compared to an impressive GDP growth of 13.26% last year. Madhya Pradeshs GDP grew by the highest rate of 10% this year. Jharkhand and Odishas economies grew at 9.12% and 9.14% respectively this year. North Korea vows to strengthen nukes amid tensions with South Korea North Korea vowed Sunday to strengthen its nuclear weapons, a day after announcing it is in a "state of war" with South Korea, it would never trade its atomic deterrent for aid. Tensions have risen sharply since the United Nations tightened sanctions in response to the North's nuclear and missile tests, and since the United States and South Korea launched military drills south of the border. North declared it was in a "state of war" with the South and warned Seoul and Washington that any provocation would swiftly escalate into an all-out nuclear conflict. ___________________________________________________________________________________________________

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GK Quiz 2
Q1. The Finance Act, 2012 for the first time introduced a special scheme to provide for tax deduction in respect of investments in equities a) Rahul Gandhi Equity Saving Scheme b) Rajiv Gandhi Equity Savings Scheme c) Mahatma Gandhi Equity Saving Scheme d) Atal Bhiari Equity Saving Scheme Q2. How much money RBI has infused through OMO in February? a) Rs 10,000 cr b)Rs 20,000 cr c) Rs 30,000 cr Q3. India's exports stood at ___ billion in January, 2013 ? a) $15.88 b) $20.37 c) $25.58 Q4. In January 2013 Trade deficit soars to ___ billion? a) $10 b) $40 c) $25

d) Rs 15,000 cr

d) $30.58

d) $20

Q5. Which helicopter division of the Italian Company was indulged in chopper scam with India? a) Finmeccanica. b) Eurocopter c) SUD-AVIATION d) None Q6. IDBI is planning to have a merger with _____? a) ICICI. b)SHCIL c)HDFC Q7. What do you mean by GAAR? a) Government Associated Applied Rules c) General Anti Avoidance Rules

d) NABARD

b) Global Annual Arctic Research d) Global Annual Atlantic Research

Q8.How many RRBs are there total in India as of January 2013? a) 82. b) 67 c) 142

d) 52

Q9. Which among the following is the correct full form of SIDO? a) Small Industry Development Organisation. b) Small Industry Development Office. c) South Industrial Development Organisation. d) None. Q10. 25 RRBs have been amalgamated into ______ RRBs in seven states? a)20 b) 4 c) 28

d) 10

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New roles, responsibilities and honours

Indias Under-19 World Cup-winning captain Unmukt Chand new brand ambassador for Pepsi Anil Sharma to be sworn in as cabinet minister into the Virbhadra Singh cabinet in Himachal Pradesh Alibaba Group picks Jonathan Lu who will replace former leader Jack Ma as the chief executive officer of the Chinese ecommerce giant.

Late President Hugo Chavez had named Maduro as his successor before undergoing the latest surgery in December last year and he picked Nicolas Maduro as the presidential candidate of Chavezs socialist party.

Former Secretary of the Department of Expenditure, Ministry of Finance, Sanjiv Misra has been appointed as the nonexecutive Chairman of Axis Bank.

ZTE China's second-largest telecom equipment maker, named Xu Dejun as CEO to replace Cui Liangjun, for ZTE India Duncan Fletcher's contract as India's cricket coach was extended by one more year. The chairman of Bank of China Ltd, Xiao Gang, has been named head of the China Securities Regulatory Commission,.

Maruti Suzuki India appoints Kenichi Ayukawa as its new MD & CEO

Blackberry India MD Sunil Dutt quit from the company after leading the launch of its two models BlackBerry 10 OS and the Z10 in India. Rick Costanzo will now take over his leadership The Communist Party of Chinas new leader Xi Jinping formally appointed as President. Mr. Xi (59), chosen as the CPCs General Secretary, was approved by the National Peoples Congress. Of the NPCs 2,963 delegates, 2,956 were present and cast their ballot, with 2,952 voting for Mr. Xi Jinping. One vote was recorded against him, and three representatives did not cast their vote.

Baba Kalyani, Chairman and MD of Bharat Forge Ltd., has been nominated as the Chairman of the India-Japan Business Leaders Forum (IJBLF). Mukesh Ambani to join Bank of America Global Advisory Council Sanjay Nigam is new head of TVS Auto Solutions

Honours
A.K. Singhal, Director (Finanace), NTPC has been awarded the Life Time Achievement Award Navneet Kaur Dhillon was crowned Ponds Femina Miss India 2013. It was the 50th edition the Miss India contest which was held in Mumbai. Sobhita Dhulipala and Zoya Afroz were the first and second runners-up

New Appointments of Governors of Indian States

Four time CM of Nagaland and former Governor of Goa, Maharashtra and Gujarat, Congress veteran Senayangba Chubatoshi Jamir has been appointed as the new Governor of Odhisa. Governor of Tripura D Y Patil and Governor Devanand Konwar of Bihar are swapped for the remainder of their five-year terms. Head of National Security Guard, Former Nagaland Governor and Congress MP, Nikhil Kumar was sworn in as the 20th Governor of Kerala. Former CBI Director, Ashwani Kumar has been appointed as the new Governor of Nagaland

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60th National Film Awards

Golden Lotus Award
Name of Award
Best Feature Film Best Debut Film of A Director Best Popular Film Providing Wholesome Entertainment Ustad Hotel Best Childrens Film Best Direction Best Animated Film

Name of Film(s)
Paan Singh Tomar Chittagong Vicky Donor Malayalam Dekh Indian Circus Dhag Delhi Safari

Language
Hindi Hindi Hindi

Awardee(s)

Hindi Marathi Hindi Shivaji Lotan Patil

Silver Lotus Award

Name of Award
Best Feature Film on National Integration Best Film on Social Issues Best Film on Environment Conservation/Preservation Best Actor Best Actress Best Child Artist Best Male Playback Singer Best Female Playback Singer Best Screenplay Screenplay Writer (Original) Best Screenplay Screenplay Writer (Adapted) Best Audiography Sound Designer Best Editing Best Lyrics

Name of Film(s)
Thanichalla Njan Spirit Black Forest Paan Singh Tomar Anumati Dhag Dekh Indian Circus Chittagong (Bolo Na) Samhita(Palakein Naa Moondon) Kahaan OMG Oh My God Shabdo Kahaani Chittagong (Bolo Na)

Language(s)
Malayalam Malayalam Malayalam Hindi Marathi Marathi Hindi Hindi Marathi Hindi Hindi Bengali Hindi Hindi

Awardee(s)

Irrfan Khan Vikram Gokhale Usha Jadhav Virendra Pratap Shankar Mahadevan Arati AnkalikarTikekar Sujoy Ghosh Bhavesh Mandalia and Umesh Shukla Anirban Sengupta and Dipankar Chaki Namrata Rao Prasoon Joshi

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GK Quiz 3
Q1. How many new trains are introduced in Rail Budget 2013-2014? a) 100 b) 200 c) 80 d) 50 Q2. Eight core sector industries growth has slowed to _____ per cent from 5 per cent in April January period of 2012-2013 over the same period of previous year a)4.5 b) 3.2 c) 5.1 d) 10.5 Q3.Who has been appointed as the Chair of India Advisory Council of British Asian Trust (BAT) a) Mukesh Ambani b) Anil Ambani c) Ratan Tata d) Shashi Tharoor Q4. US Senate confirms _____ as new Defence Secretary? a) Hilary Clinton b) Chuck Hagel c) Michelle Obama

d) Mitt Romney

Q5. Which movie got the 85th annual academy award for the best picture film? a) Argo b) Lincoln c) Django Unchained d) Life of Pi Q6. Which actor got the 85th annual academy award for the best actor? a) Will Smith b) Christoph Waltz c) Brad Pitt d) Daniel Day-Lewis Q7. Who got the 85th annual academy award for the best director? a) John Kahrs b) Ang Lee c) Adele Adkins Q8. Who will be chairman of the 14th Finance Commission? a) Y V Reddy b) Man Mohan Singh c) Sachin Pilot

d) Paul Epworth

d) Vijay Kelkar

Q9. Who has been appointed as the Secretary of Institute of Company Secretaries of India (ICSI) in December 2012? a) KR Kamat b) V P Shett c) M S Sahoo d)O P Bhatt Q10. Which actress got the 85th annual academy award for the best actress? a) Anne Hathaway b) Jennifer Lawrence c) Angelina Jolie d) None

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Budget 2013-2014

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Budget Estimates in Crore INR

Revenue Receipts = (Tax Revenue (8 84 078) + Non Tax Revenue (1 72 252)) = 10 56 330 Capital Receipts = Recovery of Loans (10 654) + Other Receipts (55 814) + Borrowings / liabilities (5 42 294) = 6 08 967 Total Receipts = Capital Receipts (6 08 967) + Revenue Receipts (10 56 330) = 16 65 297 Non-Plan Expenditure = On Revenue Account (9 92 908) + On Capital Account (1 17 067) = 1109975 Plan Expenditure = On Revenue Account (4 43 260) + On Capital Account (1 12 062) = 555322 Total Expenditure = Non-Plan Expenditure (11 09 975) + Plan Expenditure (5 55 322) = 16 65 297 Revenue Expenditure (14 36 168) = Non Plan (9 92 908) + Plan (4 43 260) Capital Expenditure (2 29 129) = Non Plan (1 17 067) + Plan (1 12 062) Total Expenditure = Revenue Expenditure (14 36 168) + Capital Expenditure (2 29 129) = 16 65 297 (WHICH IS EQUAL TO TOTAL RECEIPT) Revenue Deficit = 379838 Effective Revenue Deficit = 205182 Fiscal Deficit = 542499 Primary Deficit = 171814

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SC, ST, Women and Children

Rs 97,134 crore allocated for programmes relating to women and Rs 77,236 crore allocated for programmes relating to children. Ministry of Women and Child Development planned to design schemes that will address the concerns of women belonging to the most vulnerable groups, including single women and widows. An additional sum of Rs 200 crore proposed to be provided to the Ministry to begin work.

Minorities
An increase of 12 % over the BE and 60 per cent over the RE of 2012-13 to Ministry of Minority Affairs and Government allocated Rs 160 crore to the corpus of Maulana Azad Education Foundation to raise its corpus to Rs 1,500 crore during 12th Plan period.

Health and Education

Rs 37,330 crore allocated to the Ministry of Health & Family Welfare and New National Health Mission will get an allocation of Rs 21,239 crore. Rs 150 crore provided for National Programme for the Health Care of Elderly. Ayurveda, Unani, Siddha and Homoeopathy are being mainstreamed. Allocation of Rs 1,069 crore to Department of AYUSH. Rs 1,650 crore allocated for six AIIMS-like institutions. Rs 65,867 crore to the Ministry of Human Resource Development, an increase of 17 % over the RE of the current year is allocated. Rs 27,258 crore provided for Sarva Shiksha Abhiyaan (SSA). An increase of 25.6 per cent over RE of the current year for investments in Rashtriya adhyamik Shiksha Abhiyan (RMSA) is done. Rs 5,284 crore allocated to Ministries/Departments in 2013-14 for scholarships to students belonging to SC, ST, OBC, Minorities and girl children. Mid Day Meal Scheme (MDM) to be provided Rs 13,215 crore.

ICDS
Rs 17,700 crore allocated for ICDS in 2013-14 representing an increase of 11.7% Allocation of Rs 300 crore in 2013-14 for a multi-sectoral programme aimed at overcoming maternal and child malnutrition. Programme to be implemented in 100 districts during 2013-14 to be scaled to cover 200 districts the year after.

Rural Development
Government allocated Rs 80,194 crore in 2013-14 for Ministry of Rural Development marking an increase of 46% over RE 2012-13.

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JNNURM
Rs 14,873 crore for JNNURM in BE 13-14 as against RE of Rs 7,383 crore. Out of this, a significant portion will be used to support the purchase of up-to 10,000 buses, especially by the hill States.

AGRICULTURE
Average annual growth rate of agriculture and allied sector was 3.6% during XI Plan against 2.5% and 2.4% in IX and X plans respectively. Rs 27,049 crore allocated to Ministry of Agriculture, an increase of 22 % over the RE of current year and Agricultural research provided Rs 3,415 crore. For 2013-14, target of agricultural credit kept at Rs 7 lakh crore.

Farmer Producer Organizations

Matching equity grants to registered Farmer Producer Organization (FPO) upto a maximum of ` 10 lakhs per FPO to enable them to leverage working capital from financial institutions. Credit Guarantee Fund to be created in the Small Farmers Agri Business Corporation with an initial corpus of Rs 100 crore.

National Livestock Mission

National Livestock Mission of Rs 307 crore to be set up.

INVESTMENT, INFRASTRUCTURE AND INDUSTRY

Need of new and innovative instruments to mobilise funds for investment in infrastructure sector. Measures such as: Infrastructure Debt Funds (IDF) to be encouraged, IIFCL to offer credit enhancement. Infrastructure tax-free bond of Rs 50,000 crore in 2013-14, Build roads in NE states and connect them to Myanmar with assistance from WB & ADB, Raising corpus of Rural Infrastructure Development Fund (RIDF) to Rs 20,000 crore Rs 5,000 crore to NABARD to finance construction for warehousing. Rajiv Gandhi Equity Savings Scheme to be liberalised. Government to construct a transmission system from Srinagar to Leh at a cost of Rs 1,840 crore

Green Revolution
Rs 1,000 crore allocated in 2013-14 in Green Revolution after success in North Eastern Region Rs 500 crore allocated to start a programme of crop diversification that would promote technological innovation and encourage farmers to choose crop alternatives. Rashtriya Krishi Vikas Yojana and National Food Security Mission provided Rs 9,954 crore and Rs 2,250 crore respectively.

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Allocation for integrated watershed programme increased from Rs 3,050 crore in 2012-13 (BE) to Rs 5,387 crore.

Ports
Two new major ports will be established in Sagar, WB & in AP to add 100 million tonnes of capacity. A new outer harbour to be developed in the VOC port at Thoothukkudi, Tamil Nadu through PPP at an estimated cost of Rs 7,500 crore is planned

Micro, Small and Medium Enterprises

Refinancing capacity of SIDBI raised to Rs 10,000 crore. Another sum of Rs 100 crore provided to India Microfinance Equity Fund. A corpus of Rs 500 crore to SIDBI to set up a Credit Guarantee Fund for factoring

Banking
Compliance of public sector banks with Basel III regulations to be ensured Rs 14,000 crore provided in BE 2013-14 for infusing capital. All branches of public sector banks to have ATM by 31.3.2014. Rs 6,000 crore to Rural Housing Fund in 2013-14. National Housing Bank to set up Urban Housing Fund. Rs 2,000 crore to be provided

Insurance
Rashtriya Swasthya Bima Yojana to be extended to other categories such as rickshaw, autorickshaw and taxi drivers, sanitation workers, rag pickers and mine workers.

Capital Market
Proposal to amend the SEBI Act, to strengthen the regulator, under consideration. Number of proposal finalised in consultation with SEBI. Rule that, where an investor has a stake of 10 % or less in a company, it will be treated as FII and, where an investor has a stake of more than 10 per cent, it will be treated as FDI will be laid. FIIs will also be permitted to use their investment in corporate bonds and Government securities as collateral to meet their margin requirements.

Defence
Defence Expenditure increased to Rs 2,03,672 crore including Rs 86,741 crore for capital expenditure.

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Sports
National Institute of Sports Coaching to be set up at Patiala at a cost of Rs 250 crore over a period of three years is planned.

Broadcasting
All cities having a population of more than 1,00,000 will be covered by private FM radio services.

Panchayati Raj
Augmentation in the Budget allocation of Rajiv Gandhi Panchayat Sashaktikaran Abhiyan (RGPSA) to Rs 455 crore in 2013-14 and an additional Rs 200 crore is proposed to be provided.

PART B TAX PROPOSALS

Tax Administration Reforms Commission to be set up. In short term need to reclaim peak of 11.9 per cent of tax GDP ratio achieved in 2007-08. Direct Taxes side estimated to yield to Rs 13,300 crore & on the Indirect Tax side Rs 4,700 crore.

DIRECT TAXES
Relief for Tax Payers in the first bracket of Rs 2 lakhs to Rs 5 lakhs. A tax credit of Rs 2000 to every person with total income upto Rs 5 lakhs. Donations made to National Children Fund eligible for 100 percent deduction. Proposal to introduce Commodity Transaction Tax (CTT) in a limited way. Agricultural commodities will be exempted. Modified provisions of GAAR will come into effect from 1.4.2016.

Indirect Taxes
No change in the normal rates of 12 percent for excise duty and service tax. No change in the peak rate of basic customs duty of 10 perent for non-agricultural products.

Customs
Duty on Set Top Boxes increased from 5 to10 percent. Duty free gold limit increased to Rs 50,000 in case of male passenger and Rs 1,00,000 in case of a female passenger subject to conditions.

Excise duty
Relief to readymade garment industry. In case of cotton, zero excise duty at fibre stage also. In case of spun yarn made of man made fibre, duty of 12 percent at the fibre stage. Handmade carpets and textile floor coverings of coir and jute totally exempted from excise duty

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GK Quiz 4
Q1. XIth Five Year Plan (2007-12) witnessed an average annual growth ___ % in GDP from agriculture and allied sector against a target of 4 per cent? a) 3 b) 2.5 c) 3.6 d) 3.9 Q2 RGGVY : a) Rahul Gandhi Gram Vikas Yojana c) Rajiv Gandhi Gram Vikas Yojana Q3. GDP growth for India in 2012-2013 is ____ a) 6.7% b) 5.3%

b) Rajiv Gandhi Grameen Vidyutikaran Yojana d) Rahul Gandhi Grameen Vidyutikaran Yojana

c) 7.1%

d) 5.7%

Q4. The Youth Forum on Foreign Policy (YFFP) has organised a daylong conference _____, India Bangladesh High Potential Leader's Dialogue on Peace in Guwahati? a) Maitree Summit b) Youth Development Sumit c) Information Sumit d) None Q5. Which country became the world biggest trading nation beating US? a) India b) Brazil c) China Q6. Who is the Director General of CERN? a) Rolf-Dieter Heur. b)Paul Aleen

d) Japan

c)Pascal Lamy

d) None

Q7 Pune based CDAC (Centre for Development of Advanced Computing) has launched its fastest computer Param Yuva II in Feb 2013. What is the processor speed of this computer? a) 500 TeraFlop b) 1k TeraFlop c) 2k TeraFlop d) 250 TeraFlop Q8. The grouping of four developing countries that asked for the green climate fund? a) SAARC b) BRICS c) BASIC d) ASEAN Q9. In the Union budget 2013, the Income limit for tax-savings under Rajiv Gandhi Equity Savings Scheme has been raised to ________lakhs. a) 15 b) 50 c) 10 d) 20 Q10. Indian Government has sold stake in which PSU company in Feb 2013 to raise around Rs 11,500 crore from market? a) Power Grid b) ONGC c) CIL d) NTPC

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Help Us Improve
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Electric locomotive with `Amul' branding inaugurated The first electric locomotive (engine) of Railways under Vadodara division with `Amul' branding was inaugurated. Western Railway's Vadodara Division had entered into an agreement with Anand-based Gujarat Co-operative Milk Marketing Federation Ltd (GCMMFL), that markets brand Amul, for branding of electric locomotives. Maruti Suzuki launches limited edition of EstiloNlive Maruti Suzuki, launched a limited edition of its model Estilo priced at Rs.3.92 lakh . Indian exports to China down 30 per cent Bilateral trade with India has remained in a slump with Indian exports to China falling by more than 30 % in February. Overall bilateral trade is down 6.9 % in February from a year earlier to $9.6 billion. YES Bank has launched an Incredible India Travel Card in association with the Tourism Ministry The pre-paid card travel card was unveiled by Minister of State for Tourism, K. Chiranjeevi at the ITB Fair in Berlin, Germany. This co-branded card aims to make travelling within India a cashless and hassle-free experience and YES Bank is the only bank to tie up with the Tourism Ministry to help promote the Incredible India initiative. Over Rs 78,000 cr spent on import of weapons India has spent over Rs 78,000 crore in the last three years for importing weapon systems and military hardware from countries including the US, Russia, Germany, Israel and the United Kingdom. The expenditure made on import of weapons, equipments during the last three years and the current financial year includes Rs 13,411.91 crore in 2009-10, Rs 15,44.01 crore in 2010-11, Rs 24,193 crore in 2011-12 and Rs 251,26 crore in 2012-13. FTA: India-EU officials to meet in Brussels Chief negotiators of India and European Union (EU) are scheduled to meet next week in Brussels to fast-track the long pending negotiations that started in June 2007. Before that meeting, the chief negotiators will meet in Brussels. India defeated Australia today by 6 wickets at Feroz Shah Kotla Stadium, Delhi to win the Gavaskar Border series by 4-0. Ravichandran Ashwin won the Man of the Series award for taking 29 wickets in the test series. Government sanctions Rs 297 crore additional funds for Kochi Metro Kerala government today sanctioned an additional Rs 297.75 crore for the Kochi Metro project. Out of this, Rs. 88.50 crore is state government's equity share and Rs 209.25 crore for land acquisition. Government had earlier allocated about Rs 100 crore and Rs 19 crore as equity share for the project. Japan to grant India $2.32 billion aid for infrastructure building India and Japan have agreed to promote their bilateral strategic and global partnership especially in economic and security areas, with Tokyo granting a USD 2.32 billion aid for infrastructure building. Japanese Foreign Minister Fumio Kishida unveiled a 220 billion yen (USD 2.32 billion) aid to India for infrastructure building and a 71-billion-yen loan (USD 753.17 million) for the subway project in India's financial capital Mumbai, the Japanese news agency Kyodo reported.

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Benedict becomes 1st pope in 600 years to resign Benedict XVI became the first pope in 600 years to resign, ending an eight-year pontificate shaped by struggles to move the church past sex abuse scandals and to reawaken Christianity in an indifferent world. As bells tolled, the Swiss Guards standing at attention in Castel Gandolfo shut the doors of the palazzo shortly after 8 p.m. today (2 p.m. EST), symbolically closing out a papacy whose legacy will be most marked by the way it ended - a resignation instead of a death. China claims new fighter jet can operate in 1,000 km radius Chinasnew J-15 fighter jet will operate from its recently-acquired aircraft carrier, can cover a radius of 1,000 kms Russia to re-establish Mediterranean presence Russia will re-establish its permanent naval presence in the Mediterranean, more than two decades after it withdrew from the region. A naval task force, drawn from the Black Sea Fleet, will be deployed for round-the-year duty in the Mediterranean in 2015. The Fifth squadron, numbering up to 80 warships at its peak strength, was disbanded in 1992. World allies mourn Hugo Chavez death Condolences poured from world leaders who had found common cause with Venezuelas Hugo Chavez in his 14-year campaign to galvanise the Latin American Left and defy U.S. imperialism.Ideological allies in Latin America lined up to salute the late firebrand as Russia, China and Iran paid tribute to a key regional partner. The Deputy Prime Minister of Kenya, Uhuru Kenyatta, won the Presidential election by a narrow margin He received 50.07% votes to win the Presidential elections defeated his main rival Prime Minister Raila Odinga. India, Africa revise 2015 trade target upwards to $100 bn India and Africa revised upwards their bilateral trade target for 2015 to USD 100 billion. The decision to revise the target by USD 10 was taken here at the India-Africa Ministers Round Table conference chaired by Commerce, Industry & Textiles Anand Sharma. Boeing signs $15.6 bln landmark order with Ryanair Ryanair handed Boeing its largest European order on Tuesday with a provisional $16 billion deal to buy 175 passenger jets, boosting the struggling US planemaker and underlining the Irish airline's domination of Europe's low-cost market. The delivery of current-generation 737-800s will increase Ryanair's fleet to 400 planes from 300 at present, as old planes are retired, allowing it to grow passenger numbers by 25 percent over the next five years as rivals plan capacity cuts. The UNHRC has adopted the US-sponsored resolution against Sri Lanka on human rights.India voted in favour of the US-sponsored United Nations Human Rights Council (UNHRC) resolution against Sri Lanka on human rights with 25 countries voted in favour, 13 against and 8 abstained on the resolution against Sri Lanka at the UNHRC. Treaty to regulate $ 70 bn global arms trade An international treaty being negotiated to regulate the whopping $ 70 billion global conventional arms trade should have an impact on illicit trafficking in conventional arms and their use particularly by terrorists and unlawful non-state actors. Highlighting India's approach on some key aspects of the proposed Arms Trade Treaty (ATT), Permanent Representative to the Conference on Disarmament in Geneva

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GK Quiz 5
Q1. What is the name of new luxury coach introduced during Railway budget 2013? a) Anubhab b) Anubhuti c) Anudhriti d) None Q2. Indias overall inflation, measured by the Wholesale Price Index (WPI) for the month of January stood at? a) 6.62% b) 0.78% c) 2.58% d) 9.88% Q3. Who has been appointed as the new Solicitor-General of India in Feb 2013? a)Paras Kuhad b) Mohan Parasaran c) Rohinton Nariman d) None Q4. Who has been appointed as the new Lokayukta of Karnataka in Feb 2013? a) H. R. Bhardwaj b) Y. Bhaskar Rao c) Shivraj V. Patil d) Santosh Hegde Q5. India and France has concluded negotiations on a deal of nearly Rs 30,000 crore in Feb 2013 during the visit of Frech President in India. Who is Frances President who visited India recently? a) Nicolas Sarkozy b) David Cameron c) Francois Hollande d) Marine Le Pen Q6. In the Union budget 2013, Surcharge of ____for income of Rs 1 cr or more per annum for one year has been proposed. a) 10% b) 20% c) 15% d) 5% Q7. In the Union budget 2013, Fiscal deficit is projected to be at ______ of GDP in financial year 2013-14? a) 2.1% b) 5.2% c) 4.8% d) 4.0% Q8. Who has taken over as the new President of the Institute of Chartered Accountants of India (ICAI) in Feb 2013? a) K.R.Subbanna b) S K Agrawal c) Anand Mahindra d) Sanjoy Choudhury Q9 Which country has conducted its third and most powerful underground nuclear test in Feb 2013 amid huge criticism and protest by the United Nations Security Council? a) France b) North Korea c) Germany d) Japan Q10. Who has taken over as the Chairman of Indias insurance sector regulator, the Insurance Regulatory and Development Authority (IRDA) in Feb 2013? a) M Ramaprasad b) J. Hari Narayan c) T S Vijayan d) None Q11. As per the final guidelines for issuing new bank licences published by the RBI, what can be the maximum Foreign holding after 5 years? a) 21% b) 23% c) 49% d) 51% Q12. The Indian Government has appointed whom as the chairman of the 20th Law Commission of India in Jan 2013? a) Justice G.S. Singhvi b) Justice H.L. Dutta c) Justice D K Jain d) Justice P Sathasivam Q13. Who has won The Hindu Literary Prize 2012 for his novel Em and the Big Hoom in Feb 2013? a) Kiran Nagarkar b) Anjum Hasan c) Jerry Pinto d) None Q14. US House of Representatives has finally passed the bill to avoid the Fiscal Cliff crisis in

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Jan 2013. As per the bill, the spending cut was delayed by _________? a) 4 Months b) 3 Months c) 2 Months d) 8 Months Q15. Who was conferred the Indira Gandhi Prize for Peace, Disarmament and Development for 2011 by Indian President Pranab Mukherjee in Feb 2013? a) Luiz Inacio Lula da Silvab) Ela Ramesh Bhatt c) Lula da Silva d) None Q16. As per the final guidelines for issuing new bank licences published by the RBI, Applicant banks must open at least _____ branches in unbanked rural areas. a) 25% b) 14% c) 30% d) 0% Q17. Which Indian IT Services Company has become the first Indian IT company to get listed

on NYSE Euronext London and Paris markets in Feb 2013? a) Infosys b)TCS c) HCL d) Wipro Q18. The Employees Provident Fund Organization (EPFO) has set interest rates paid to subscribers at ____ during the current fiscal year 2012-13 in Feb 2013. a)8.00 % b) 8.1 % c) 8.25 % d) 8.5 % Q19. Who was elected as the President of Ecuador for the 3rd term in Feb 2013? a) Guillermo Lasso b) Rafael Correa c) lvaro Noboa d) None Q20. Which state has recently launched Atal Jyoti Abhiyan to provide 24 hours power supply for domestic use in rural areas in Jan 2013? a) MP b) UP c) AP d) HP

Answers:
Quiz 1: 1) a 2) b Quiz 2: 1) b 2) a Quiz 3: 1) a 2) b Quiz 4: 1) c 2) b Quiz 5: 1) b 2) a 11) c 12) c 3) c 4) a 5) d 6) a 7) b 8) c 9) b 10) c

3) c

4) d

5)a

6) b

7) c

8) b

9) a

10) d

3) a

4) b

5) a

6) d

7) b

8) a

9) c

10) b

3) c

4) a

5) c

6) a

7) a

8) c

9) c

10) d

3) b 13) c

4) b 14) c

5) c 15) b

6) a 16) a

7) c 17) a

8) b 18) d

9) b 19) c

10) c 20) a

__________________________________________________________________________________

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