July CA Mahindras..

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RBI/ BANKING/ BUSINESS NEWS THIS MONTH
July 5: The Reserve Bank of India relaxed norms for overseas investment by Indian corporates
by raising their borrowing limit.
July 6: Bank of Maharashtra was conferred Best Bank Public Sector award in BFSI Awards:
2014 by World HRD Congress in recognition of its performance in Banking category.
July 7: Exim Bank has extended USD 46 million line of credit to Mauritius for financing goods
and defence related vehicles purchases.
July 8: The World Bank Group (WBG) has granted GNRC, which was formerly known as
Guwahati Neurological Research Centre a grant of $150,000.
July 9: The Reserve Bank of India is in the process of deciding if banks can charge a fee for
using automated teller machines (ATMs) to withdraw money outside the home bank ATM
network.
July 10: Canara Bank opened its seventh overseas branch in New York, USA.
July 13: A major fire has raged the State Bank of India building at Parrys Corner in Chennai.
July 14: To support farmers who organise themselves under producer organisations, the
National Bank for Agriculture and Rural Development (NABARD) is considering setting up a
wholly-owned non-banking finance company (NBFC).
July 15: Fitch Ratings has assigned Bank of Baroda's $250 million senior unsecured notes due
July 2019 a final rating of 'BBB-'. 'BBB' ratings indicate that expectations of default risk are
currently low.

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July 17: Software giant Microsoft could be announcing the biggest round of job cuts in five
years.
July 18: The Reserve Bank will shortly issue new Rs. 20 denomination banknotes in the
Mahatma Gandhi series-2005 with inset letter E. These banknotes would bear the year of
printing '2014' on the reverse side of the currency.
July 18: Account holders of State Bank of India will soon be able to get mobile-based,
personalised information on the farm sector developments at a nominal cost.
July 19: India will hold the Presidency of the USD 100 billion BRICS development bank for the
first six years.
July 20: Kolkata-headquartered UCO Bank has set up an e-lobby with four self-operated
machines for cash deposit, withdrawal, cheque deposit and pass book printing in the Supreme
Court complex.
July 20: Corporation Bank will open 200 Corp Excel branches by the end of December 2015.
July 21: As a debate continues on alleged black money of Indians in Swiss banks, the
authorities in Switzerland have come across a significant quantum of fake Indian rupee notes in
their country the third highest for any foreign currency after Euro and the US dollar.
July 21: Canara Bank signed an agreement with the Kochi Metro Rail Ltd on 20th July for a
loan of Rs.1,170 crore to the Rs. 5,200-crore Kochi Metro project.
July 23: The RBI has set out a framework for identifying and dealing with large banks, termed
domestic systemically important banks or D-SIBs.
July 24: Canara Bank will open over 1,250 branches and over 3,700 ATMs in the next two
years.
July 24: State Bank of India leads public sector banks in number customer complaints received
by the Banking Ombudsman during the year 2013-14.
July 25: India plans to propose the setting up of a South Asian Development Bank for financing


infrastructure development in the region at a meeting of trade ministers from SAARC countries
in Bhutan in the week of July.
July 26: ICICI Bank, India's largest private sector bank, has launched ProCircle, a special -
privilege programme for the US-based users of its online money transfer tracking service
Money2India (M2I).
July 27: The Insurance Regulatory and Development Authority (IRDA) has imposed Rs. 5 lakh
penalty on Sahara India Life Insurance Company Ltd for not fulfilling social sector obligations.
July 27: Even though Wipro has lagged behind Infosys, which posted 2 per cent revenue
growth, the company has done a better job in retaining its employees.
July 28: Canara Bank launched a new set of technology-enabled products such as mobile
wallet, easyCash and P-serve.
July 28: The Reserve Bank of India (RBI) has slapped a monetary penalty, ranging from Rs. 5
to Rs. 40 lakhs, on 12 banks including ICICI Bank, HDFC Bank, Axis Bank, Canara Bank and
IDBI Bank, in the case relating to the loan and current accounts of the troubled Deccan
Chronicle Holdings Ltd for violations of its instructions/directions/guidelines. The central bank
has imposed the maximum penalty of Rs. 40 lakh on ICICI Bank; followed by Rs. 15 lakh each
on Axis Bank and IDBI Bank.
July 28: Authorised dealers/ full-fledged money changers selling pre-paid foreign currency
cards for travel purposes have to comply with the same rigorous standards of due diligence
and Know-Your-Customer (KYC) norms.
July 29: Federal Bank has launched a woman-only car loan scheme called she car.
July 29: Reliance Power Ltd, an Anil Ambani Group firm, has acquired the entire hydro power
portfolio of Jaiprakash Power Ventures for an estimated Rs. 15,000 crore.
July 30: LifeCell, Indias largest umbilical cord blood stem cell bank, is setting up a public stem
cell bank at a cost of Rs. 30 crore.
July 30: Finance Minister, Arun Jaitley, will address the Reserve Bank of India board here on


August 9 amid expectations that the central bank will complement government actions by
reducing the rates to boost growth.
July 31: In a controversial move, HSBC Bank has closed a number of risky accounts
belonging to Muslim groups and individuals in the UK.
July 31: Prime Minister will launch the government's campaign for financial inclusion to ensure
banking service to 7.5 crore households in the country.
July 31: HDFC Bank has launched its secure banking in Kerala aimed at creating customer
awareness about safe banking practices.

NATION THIS MONTH

July 4: The Government has decided to introduce four new vaccines as part of Indias
Universal Immunization Programme (UIP). Vaccines against rotavirus, rubella and polio
(injectable) will collectively expedite Indias progress on meeting the Millennium Development
Goal 4 targets to reduce child mortality by two-thirds by the year 2015 and meet global polio
eradication targets.
July 4: Union Urban Development, Housing & Urban Poverty Alleviation and Parliamentary
Affairs Minister Shri M. Venkaiah Naidu suggested a 25-point charter for urban planning and
management to ensure planned urbanisation, assured amenities and decent urban life.
July 5: The Prime Minister, Shri Narendra Modi, dedicated to the nation, the Shri Mata Vaishno
Devi Katra Udhampur railway line. The Prime Minister flagged off the first train to Udhampur,
from Katra Railway Station,
July 6: Prime Minister Narendra Modi dedicated to the nation the 240 MW Uri-II hydropower
project built by NHPC at a cost of Rs. 2290 crore in Jammu and Kashmir.
July 6: Memorandum of Understanding (MoU) was signed by National Bank of Agriculture and
Rural Development (NABARD) and Small Farmers Agribusiness Consortium (SFAC). The MoU
was signed by Dr. Harsh Kumar Bhanwala, Chairman, NABARD and Shri Pravesh Sharma,
MD, SFAC.


July 8: Senior officials from India and Nepal met to discuss bilateral security concerns and
defence cooperation, including the supply of military equipment to Nepalese army.
Note: The two-day Nepal-India Bilateral Consultative Group Meeting on Security Issues
started during which the two sides discussed matters relating to security concerns of both
sides and future security cooperation between them.
July 9: India test-fired an advanced version of the 290-km range BrahMos supersonic cruise
missile from the Odisha coast.
July 9: Union Railway Minister D. V. Sadananda Gowda presented his maiden Railway Budget
in Parliament. Alongwith no new increase in passenger fares and freight charges the budget
has proposed Bullet train in Mumbai-Ahmedabad sector, Diamond quadrilateral for high speed
trains and plan to hike speed of trains to 160-200 km/hr in 9 sectors among other
announcements.
July 9:The government pushed through the National Institute of Design Bill, 2013 in the Rajya
Sabha on the first day of the budget session of Parliament. The BJP-led NDA government,
which is a minority in the Upper House, managed to pass the Bill with help from the Congress.
July 10: The much-awaited verdict on the dispute regarding the delimitation of the maritime
boundary between India and Bangladesh was delivered, with a United Nations tribunal
awarding Bangladesh 19,467 sq. km of the 25,602 sq. km sea area of the Bay of Bengal.
July 11: Shyama Prasad Mukherji Rurban Mission will be launched to deliver integrated project
based infrastructure in the rural areas.
July 11: A Financial Inclusion Mission will be launched from Independence Day this year as a
time bound programme to provide all households in the country with banking services. This
was announced by the Finance Minister Shri Arun Jaitley while presenting the General Budget
2014-15 in Lok Sabha.
July 11: Kisan Vikas Patra (KVP) is being re-introduced to encourage people, who may have
banked and unbanked savings to invest in this instrument.
July 11: The Finance Minister Arun Jaitley has announced the launch of a national Multi-Skill


programme called Skill India in his maiden Budget speech. The facility of Electronic Travel
Authorisation (e-Visa) shall be introduced in a phased manner at nine airports in India and an
amount of Rs. 200 crores has been allocated for the erection of Statue of Unity, as announced
by Finance Minister Arun Jaitley in his maiden Budget speech.
July 12: A controversial Bill that paves the way for the Polavaram project in Andhra Pradesh by
merging some villages and mandals of Telangana with Seemandhra was approved in the Lok
Sabha , amid stiff opposition from the TRS, BJD and some other parties.
July 12: Amul has inked an agreement with the Indian Olympic Association to sponsor the
Indian contingent for the upcoming Glasgow 2014 Commonwealth Games and the Asian
Games to be held later this year in South Korea.
July 13: The Finance Ministry has clarified that no final decision has been taken on
implementation of General Anti Avoidance Rules (GAAR). This clarification came in the wake of
reply given by the Government in Lok Sabha saying that GAAR will be introduced from April 1,
2015. It may be noted that the previous government deferred introduction of GAAR for two
years, that is, till March 31, 2015.
July 15: China invited India for the first time to attend the APEC summit that it will be hosting
this year as Prime Minister Narendra Modi and President Xi Jinping.
July 16: The Department of Agriculture & Cooperation was earlier implementing 51 schemes
for development of agriculture and welfare of farmers in the country.
July 17: The BRICS Summit, Prime Minister Narendra Modi's first multilateral engagement,
agreed to an understanding that the five member nations will have equal shareholding in the
proposed USD 50 billion BRICS Development Bank presidency of which is likely to go to India
first.
July 18: Export Credit Guarantee Corporation of India Ltd (ECGC) has signed a Memorandum
of Understanding (MoU) on Co-operation with the Export Credit Insurance Agencies (ECA) of
BRICS countries in Fortaleza, Brazil.
July 18: India will host the next summit of IBSA (India, Brazil South Africa) in New Delhi next


year.
July 19: India has been the worst performer among BRICS nation in an annual index which
measures innovation in various countries.
July 20: Rio Tinto, the worlds largest merchant miner with more than two-third share of the
globes iron ore business, and having a significant presence in other minerals and
commodities, is banking on Prime Minister Narendra Modis business-friendly approach to help
revive its stalled projects in India.
July 21: The Justice M. B. Shah Commission on illegal mining has recommended that iron and
manganese ore miners of Jharkhand be asked to disgorge Rs.14,403 crore and Rs. 138 crore,
respectively, for environmental violations.
July 21: India has been the worst performer in the 2014 Global Innovation Index (GII) which
has slipped 10 places compared to last year to reach at 76th place.
July 22: Indias demand that food procurement subsidies at the World Trade Organization be
considered permissible is now being backed by the entire G-33 group of developing countries
that has expressed the same view in a fresh proposal.
July 23: India has the sixth highest prevalence of child marriage in the world with one in every
three child bride living in India, a United Nations report said.
July 26: Indias ranking in the Human Development Index (HDI) remained unchanged at 135 in
2013, reflecting little improvement in the living standard of its people.
July 27: Kudankulam nuclear power projects second 1,000 MW unit is expected to be
commissioned shortly. The power project, located in Tamil Nadu, has two units of 1,000 MW
generation capacity each.
July 28: Mobile connections in India will grow to 815 million in 2014, an 8 per cent increase
from 755 million connections in 2013, according to a study by Gartner. The mobile services
market in India will remain almost at the same level as 2013 at $19.2 billion in 2014.
July 28: Indias own version of Madame Tussauds museum was inaugurated by President


Pranab Mukherjee.
July 28: Prime Minister Shri Narendra Modi launched MyGov, a platform that empowers the
citizens of India to contribute towards Surajya.
July 29: Shipping Ministry has proposed to incorporate a new company to undertake rail
projects at all Government ports.
July 30: A top American think-tank has launched a programme, India- 2020, which will
examine short and long:term policy priorities for every aspect of the India-US strategic
partnership with a focus on concrete recommendations that can be achieved by the year 2020.

INDIAN ECONOMY THIS MONTH
July 4: Telangana may present its maiden budget in August 2014, and the new State may start
off with a small revenue surplus. The size of the maiden budget of new Telangana State is
likely to be pegged at Rs. 70,000 crore. The Plan size would be in the neighbourhood of Rs.
20,000 crore, while the Non-Plan component could be Rs. 50,000 crore.
July 4: The encouraging response for 5kg LPG cylinders has prompted Bharat Petroleum
Corporation Ltd to look at introducing 3kg and 2kg cylinders in the market.
Note: George Paul, Executive Director (LPG), BPCL, said that a move in this regard was taken
following the good customer feedback received by the company after launching the 5 kg
cylinder in various cities including the metros.
July 4: The Government will initiate measures to turnaround the highways sector in two years
time by garnering funds to the tune of Rs. 1 lakh crore in a year, Road Transport and
Highways.
July 5: Official government statistics indicate that there has been a turnaround in Indias Public
Distribution System (PDS). The share of households consuming PDS rice has nearly doubled
over seven years and those consuming PDS wheat has more than tripled over the same
period.


July 5: The Asian Development Bank (ADB) approved 300 million US dollars loan to Assam.
The loan will help Assam in its drive to eliminate power sector inefficiencies that are hurting its
consumers, its world-famous tea industry, and its environment.
July 8: Widening its probe into the money laundering probe in the Rs.3,600 crore VVIP
chopper deal, the Enforcement Directorate will send judicial requests to about six countries
seeking information on bank accounts and transactions to detect the trail of alleged kickbacks
money.
July 8: The benchmark BSE Sensex crossed the 26,000:mark for the first time and the NSE
Nifty soared to hit yet another high of 7,787.95 in opening trade on the back of strong inflow of
foreign funds ahead of the Budget.
July 8: India is set to become the third largest economy in the world by 2030, according to
latest estimates by a PricewaterhouseCoopers (PwC) report.
July 9: Uma Bharti, the Union Water Resources Minister launched a nationwide tree plantation
drive and public awareness programme to save rivers.
July 9: Indian Railways will borrow less at Rs. 11,790 crore from market through its two
companies IRFC and Rail Vikas Nigam Ltd for capital expenditure during 2014-15. The
estimated market borrowing by these two companies during current fiscal were pegged at Rs.
13,800 crore from markets, as per the interim Railway Budget for 2014-15 tabled in February.
July 10: The Government has announced setting up of 16 National Investment and
Manufacturing Zones (NIMZs) to boost economic growth. Under the National Manufacturing
Policy, the Government has proposed setting up of NIMZs. The policy aims at enhancing the
share of manufacturing in GDP to 25 per cent within a decade and creating 100 million jobs.
July 10: According to the Economic Survey, driven by a seven per cent rise in consumption
and high utilisation ratio, steel production in India grew at a compound annual growth rate of
7.9 per cent in the past five years.
July 10: GDP is expected to grow in the range of 5.4-5.9 per cent in 2014-15. There are
downward risks to the economy arising from poor monsoon, external environment and poor


investment climate, states the Economic Survey 2014 tabled in the Lok Sabha.
July 10: The governments pre-budget Economic Survey has suggested payment of subsidy in
cash for those below poverty line through technologies like biometric identification, observing
that such support lead to distorted resource allocation which hamper changes in prices.
July 12: The value of India targeted mergers and acquisitions (M&A) rose 46.8 per cent to
$17.1 billion in the first half of 2014 from $11.6 billion posted during the same period a year
ago.
July 12: Sugar production for the 2014-15 season starting October is projected to be 4 per cent
higher at 25.3 million tonnes, according to preliminary estimates by the Indian Sugar Mills
Association (ISMA), the apex industry body. For the current 2013-14 season ending
September, the production was pegged at around 24.3 million tonnes.
July 12: After growing at an average annual rate of just over 6 per cent from 1980 to 2010,
Indias economy is now the 10th biggest in the world in terms of gross domestic product,
according to the World Bank.
However, its growth has slowed in recent years, with an expansion of 4.7 per cent in 2013-
2014, up from 4.5 per cent the previous year, the slowest pace in the previous decade.
July 13: West Bengal Government has obtained firm investment commitment worth Rs. 3,200
crore.
July 14: The Centre is considering expanding its India Inclusive Innovation Fund corpus and
mandate, aimed at promoting grassroot level innovations to deliver social and economic
returns.
July 14: Lutyens' Delhi is set to get a facelift with the demolition and reconstruction of 516
Government bungalows. The project would cost Rs 3,000 crore and would be implemented in
phases over the next 20-30 years.
July 15: During 12th Plan, outlay for Rs. 2200 crore has been provisioned for National Ganga
River Basin Authority (NGRBA), which has been entrusted with the work of controlling pollution
in the river Ganga.


July 15: OCL India Ltd, the flagship associate company of Dalmia Cement Bharat Ltd,
announced the commissioning of its 2 million tonne per annum and Rs. 615 crore cement unit
in West Midnapore of West Bengal.
July 16: The Government has slapped an additional penalty of $579 million on Reliance
Industries for producing less than targeted natural gas from its KG-D6 block.
July 17: One third of the extreme poor global population reside in India which has also
recorded the highest number of under:five deaths in the world, the latest UN Millennium
Development Goals report revealed.
July 17: The World Trade Organisation (WTO) has ruled against the US in a case filed by India
over imposition of high import duties on Indian steel products.
July 18: Exports of merchandise continued to rise steadily for the third straight month with
shipments in June 2014 posting a 10.22 per cent rise at $26.47 billion compared to last June.
July 20: Manila-based Asian Development Bank (ADB) has upgraded Indias economic growth
forecast to 6.3 per cent in 2015-16 on hopes of speedy reform process.
July 21: Realty player Logix Group launched its Rs. 1000 crore new project Logix City Centre
in Noida.
July 22: Reliance Industries posted a 13.7 per cent jump in its first quarter net profit to almost
USD 1 billion, the highest quarterly profit by a private firm.
July 22: German automaker Volkswagen has rolled out the 400,000th car from the
manufacturing facility in Pune.
July 23: Pension fund regulator PFRDA has framed regulation for two key operative arms :
NPS Trust and Pension Fund managers-for expansion and deepening of the sector.
July 24: The Directorate of Enforcement has attached properties worth Rs. 186.11 crore
belonging to two promoters and directors of Nava Bharat Power Projects in the coal scam
related case and has alleged they had a windfall gain of Rs. 200 crore.


July 24: In a crackdown on an unauthorised money pooling scheme promising high returns,
Sebi has barred Sai Prasad Corporation and its directors from raising funds from public and
from launching any new investment plans.
July 26: Tata Consultancy Services has become the first Indian company to command a
market capitalisation of Rs. 5 lakh crore after its share price hit an all-time high.
July26: The Union Cabinet has okayed introduction of the Bill for raising FDI in insurance and
empowering SEBI to act against illegal deposit and ponzi schemes. The Government will
introduce both these Bills during the ongoing session of Parliament.
July 27: Visakhapatnam is one of the three strategic reserve caverns being created by Indian
Strategic Petroleum Reserves Ltd. The other two at Mangalore (1.5 million tonnes) and Padur
(2.5 million tones).
July 28: A study of loan performance in the three-year period (2010 to 2013) of rising interest
rates, suggests the loans that faced over 2 per cent hike in rates were 50 per cent more
delinquent than the average during the same period.
July 29: Indias sovereign credit rating is expected to remain stable over the next 12month
period, brokerage firm Morgan Stanley said.
July 29: A recent study report prepared by Assochams Economic Research Bureau has
showed that Gujarat topped in new investments attracted by the power sector during the period
2004-05 and 2012-13.
July 29: Raising the investment limit for foreign institutional investors (FIIs) from $20 billion to
$25 billion is credit positive for the Government of India (GoI).
July 30: GVK Power & Infrastructure Limited expects to commence coal production from its
captive GVK Coal (Tokisud) Company to facilitate supply to the 540 MW Goindwal Sahib
thermal power plant in Punjab.
July 30: Indias outward investments had increased from $1 billion in 2001-02 to $30.9 billion in
2011-12.


July 31: According to Federation of Indian Mineral Industries (FIMI), India will be an importer of
iron ore in the 2014-15 fiscal.
July 31: A day after Flipkart announced fresh funding of a billion dollars, Amazon has said that
it will invest an additional $2 billion in India.

GLOBE-TROT THIS MONTH
July 5: Former News of the World editor Andy Coulson, a onetime aide to British Prime
Minister David Cameron, has been sentenced to 18 months in jail for participating in a
conspiracy to hack the phones of celebrities, politicians and crime victims.
July 5: Four-party meet held in Berlin agreed on a series of step to resume the ceasefire in
eastern Ukraine. The four party meet was held between Foreign Ministers of Russia, Ukraine,
Germany and France.
July 6: China South Korea bilateral summit was held in Seoul. The summit was held between
South Korean President Park Geun:hye and Chinese President Xi Jinping. It was held during
the Chinese President Xis first visit to South Korea since he became the President in 2013.
July 6: Japan ended the 60 years of pacifism giving Army the option to exercise force. The
resolution towards this was adopted by Japanese Cabinet headed by Prime Minister Shizo
Abe.
The Cabinet resolution laid down certain scopes or minimum degree under which Japan can
exercise force.
July 6: Chinas President Xi Jinping will this year become the first Chinese head of state to visit
Sri Lanka in three decades, underlining Beijings renewed push to deepen its strategic and
economic presence in the neighbourhood and in the Indian Ocean.
July 13: Bangladesh has banned official marriages between its nationals and Myanmars
Muslim Rohingya refugees as they wed and use the marriage certificate for getting citizenship
and Bangladeshi passports.
July 13: The US is calling for Asian nations to freeze new construction and establishment of


outposts in the disputed South China Sea to lower the risk of a conflict.
July 16: Federal Reserve Chairwoman Janet Yellen said that the US central bank will continue
to keep interest rates at historic lows. The Fed will keep rates at between 0 to 0.25 per cent.
July 19: Shocked by the downing of a Malaysia Airlines plane over war-torn eastern Ukraine
near the Russian border, the White House called for a full, credible and unimpeded
international investigation into the tragic incident that killed nearly 300 people on board.
July 20: Bolivia has become the first nation to legalise child labour from age 10.
July 20: Minerals Council of Australia (MCA), the apex body of miners in that country, is ready
to offer Indian companies help in the area of sustainable mining.
July 21: The shooting down of Malaysian Airlines Flight MH-17 by pro-Russian separatists in
Ukraine threatened to derail the meeting of trade ministers of the G-20 Group of advanced and
emerging economies.
July 21: The Philippines has removed restrictions on foreign ownership of banks in the country
under a new law that allows 100-per-cent foreign control.
July 22: President Benigno Aquino of the Philippines presided over the opening ceremony of
the world's largest indoor stadium, Philippine Arena.
July 23: The United Nations Security Council unanimously adopted a resolution calling for an
international investigation into the downing of Malaysia Airlines flight (MH17) in eastern Ukraine
and demanded that armed groups allow investigators full and unrestricted access to the crash
site.
July 26: Algerian civil aviation lost contact with a plane carrying 110 passengers after its take-
off from Burkina Faso.
July 26: The Bahrain Economic Development Board has come out with a new visa policy that
enables Indian residents to apply for electronic visas from October this year.
July 29: The Australian Government has given environmental approval to Adani Minings


$16.5-billion Carmichael coal mine and rail infrastructure project in Queensland.
July 30: More than 200 flights were cancelled in China owing to busy airspace on the first day
of the Chinese militarys live fire exercises in the East China Sea, prompting aviation authorities
to declare a red alert.
July 31: The European Union has for the first time slapped comprehensive economic sanctions
against Russia and banned the export of military goods and sensitive technologies in the
energy sector for its failure to de-escalate the conflict in eastern Ukraine.

INDIAN LEADERS VISITING ABROAD/ FOREIGN COUNTRY NATIONALS VISITING
INDIA
July 14: Prime Minister Narendra Modi visited Brazil for attending the five-nation summit of
BRICS nations on July 14 and 15 which is expected to finalise the setting up of a development
bank and seek reforms of the United Nations and international financial organisations.
July 21: A four-member delegation from Pakistan will visit India to study the Sabarmati
Riverfront Development Project (SRDP), one of the major developmental initiatives of Indias
Prime Minister Narendra Modi when he was Chief Minister of Gujarat.
July 31: US Secretary of State John Kerry heading a high-powered delegation, is visiting India
to co-chair the fifth annual India-US Strategic Dialogue with External Affairs Minister Sushma
Swaraj in New Delhi during his three-day official visit.

APPOINTMENTS/ RESIGNATIONS THIS MONTH

July 5: Swamy Goud of Telangana Rashtriya Samiti party was elected as Chairman of the 40-
member Telangana Legislative Council.
July 5: Ram Naresh Yadav was sworn-in as Governor of Chhattisgarh at Raj Bhawan. He
succeeded Shekhar Dutt.
July 5: Michelle Howard has been appointed as the first female four-star admiral in US Navy.
July 6: Bharat Vir Wanchoo, the Governor of Goa resigned.
July 6: R. Chandrasekhar appointed as President of Nasscom. He will succeed Som Mittal.


July 8: Justice Nasir-ul-Mulk sworn in as the Pakistans new chief justice. He succeeded
Tassaduq Hussain Jillani
July 9: President Pranab Mukherjee has appointed Margaret Alva, Governor of Rajasthan, to
discharge the functions of the Governor of Goa,until the new appointment of governor of Goa is
made.
July 9: Emma Watson, the British Actress was appointed as the Goodwill Ambassador for UN
Women and for empowerment of young women and also as an advocate for UN Womens
campaign in promoting gender equality.
July 9: Justice Arun Mishra, Justice Adarsh Kumar Goel and Justice Rohington F Nariman
were appointed as Supreme Court judges. The three judges were administered the oath of
office by Chief Justice of India, R M Lodha.
July 10: Amit Shah has been appointed as the new president of BJP in Lok Sabha elections.
July 14: Rashtrapati Bhawan has announced that President Pranab Mukherjee has appointed
new Governors for five States. BJP veteran leader Ram Naik has been chosen as the
Governor of Uttar Pradesh. O.P Kohli, Balramji Das Tandon and Keshari Nath Tripathi have
been designated as new Governors of Gujarat, Chhattisgarh and West Bengal respectively.
Padmanabha Balakrishna Acharya has been appointed as Nagaland Governor.
July 15 : The Government has appointed 1980 batch IAS officer Shankar Aggarwal as
Secretary in the Ministry of Urban Development. The Uttar Pradesh cadre officer, Aggarwal
was previously the Secretary, Union Ministry of Women & Child Development.
July 16: UK defence secretary Philip Hammond has been appointed as the new foreign
secretary of UK.
July 23: Ace tennis player Sania Mirza has been appointed as the brand ambassador of
Telangana Government.
July 23: Graft-tainted Madhya Pradesh IAS couple Arvind Joshi and Tinu Joshi have been
terminated from service. The couple were already under suspension since February 2010, after
an income-tax raid on their house, which led to detection of wealth in excess of Rs 350 crore
and recovery of Rs. three crore in cash.
July 26: The Supreme Court appointed senior advocate R. S. Cheema as Special Public
Prosecutor for the coal blocks allocation trial.
July 27: AS Durga Prasad, Cost and Management Accountant (CMA), has been elected as
President for the Institute of Cost Accountants of India for the year 2014-15.


July 27: Justice Sanjay Kishan Kaul sworn as Chief Justice of the Madras High Court by Tamil
Nadu Governor K Rosaiah at the Raj Bhavan.
July 27: Ukraines Prime Minister has resigned after his governing coalition collapsed,
plunging the former Soviet state into political limbo as it struggles to quell a deadly rebellion in
the east.
July 28: Senior IRS officer K V Chowdary is tipped to be the new Chairman of the Central
Board of Direct Taxes (CBDT), the apex authority of the Income Tax department from August
1. He will succeed Chairman RK Tewari.
July 30: India Infoline Finance Ltd (IIFL), an NBFC subsidiary of India Infoline has appointed
Rajashree Nambiar as its Chief Executive Officer (CEO). Prior to joining IIFL, Nambiar was
General Manager Retail Banking Products, India and South Asia at Standard Chartered Bank.
July 31: IAF chief, Arup Raha, has taken over as the Chairman, Chiefs of Staffs Committee,
from incumbent Gen Bikram Singh who is retiring on 31st July. The Chairman, Chiefs of Staffs
Committee is the senior-most military officer in the country.

AWARDS/ HONOURS/ WORLD TITLES/ NEW DISCOVERIES THIS MONTH

July 1: President Pranab Mukherjee presented Sant Kabir Awards to L Subadani Devi of
Manipur and Gour C Basak of West Bengal and Shilp Guru Awards to Ghulam Mehdi Joo of
Jammu and Kashmir, Shabbir Hasan of Rajasthan, MM Mahapatra of Odisha, Babu Ram
Yadav of Uttar Pradesh.
July 1: Shah Rukh Khan was conferred with top French civilian award Knight of the Legion of
Honor.
July 1: Malala Yousafzai, the young Pakistani education advocate won Liberty medal for the
year 2014 for her continued demonstration of courage and resilience in the face of adversity
and for serving as a powerful voice for those who have been denied their basic human rights
and liberties.
July 13: Aniket Bajpai and Chitraang Murdia won gold medals in 45th International Physics
Olympiad (IPHO2014) held in Astana, Kazakhstan from 13 July to 21 July 2014 at the
Nazarbayev University whereas Bure Vidya Sagar Nadin, Srikakulam Gurukirat Singh Bajwa,
Hoshiarpur and Rupanshu Ganvir secured silver medals.
July 15 : The President of India, Shri Pranab Mukherjee presented the Gandhi Peace Prize for


the year 2013 to Shri Chandi Prasad Bhatt at a function at Rashtrapati Bhavan. The Gandhi
Peace Prize was instituted by the Government of India in 1995 on the occasion of the 125th
birth anniversary of Mahatma Gandhi.
July 18 : Kerala based magician Samraz has been selected for the Merlin Award of the
International Magicians Society New York.
July 19 : Nalco has been awarded the gold award in Premier Trading House category in the
first Eastern Region Export Excellence Award 2012:13 by the Federation of Indian Export
Organizations. Its exports stood at Rs. 3,380.93 crore. Tata Steel got the silver award in the
category with its Rs. 1,997.90:crore exports earnings.

SPORTS NEWS THIS MONTH

July 6: Parvez Rasool first from J&K team to be selected in Indian cricket team.
July 7: Novak Djokovic has won his second men's singles title at Wimbledon after an epic five-
set final against Roger Federer.
July 8: Australia leads the latest ICC test rankings followed by South Africa, England with India
in the fourth place.
July 8: Indian tennis ace Sania Mirza has achieved a career-best rank of number five in the
world as the new WTA Doubles.
July 8: Indian tennis legend Vijay Amritraj on Monday announced the launch of Champions
Tennis League (CTL) in India with an aim of taking the sport to new levels of awareness and
popularity in the country.
July 9: Indian tennis legend Vijay Amritraj has launched The Champions Tennis League (CTL)
with a pan India tennis tournament featuring IPL style playoffs between six franchisees.
July 9: Djokovics Wimbledon victory returned him to the top of the latest world rankings
followed by Stan Wawrinka and Roger Federer.


July 10: Sim Bhullar has become the first player of Indian origin to be a part of the National
Basketball Association (NBA) after he signed a summer contract with the Sacramento Kings, a
professional basketball team in the US.
July 10: Indian students with a passion for sports have now access to scholarships that will
fund their study in New Zealand for sports-related programmes as declared by Steven Joyce,
New Zealand Minister for Tertiary Education, Skills and Employment.
July 13: Germany wrote a new chapter in the history of international football as they became
the first European team to lift the World Cup in South America, clinching a hard-fought 1-0 win
over Argentina in the final, their triumph coming on the back of steely resolve and blood on the
pitch.
July 13: In FIFA World Cup, the winning country Germany was awarded with $35 million and
Argentina the first runner up was awarded with $25 million.
July 13: Former Sri Lanka Skipper Mahela Jayawardene has announced his retirement from
Test Cricket.
July 16: The third oldest football tournament in the world, Durand Cup, will be held in Goa
between October 28 and November 9 this year. A host of top clubs and military football teams
will participate in the tournament. Durand Cup was first held in the year 1888.
July 18: Real Madrid and Barcelona are champions at making money and are named as the
world's two richest sports franchises.
July 18: The ambitious High Performance Program of Hockey India (HI) is all set to go live
from next month with the launch of its website, a one of a kind interactive platform for coaches
and players of the country.
July 22: Bhubaneswar Kumar of India on the fourth day of the second Test against England
here knock to 52 runs while playing a test series became the first batsman in the world, who
scored three half-centuries batting at number nine.
July 24 : Hero MotoCorp, a two wheeler manufacturer, has signed a three year deal to be the
title sponsor of the Indian Super League, the initial franchise based football league in the


country. With this sponsorship, the new football league, promoted by IMG-Reliance and Star
India, would be called the `Hero Indian Super League'.
July 25: Sikh players from India were asked to remove their turbans at an international
basketball match, top U.S. lawmakers have launched a campaign asking International
Basketball Federation (FIBA) to review the discriminatory policy.
July 26: Sukhen Dey and K Sanjita Chanu stole the limelight by clinching a gold medal each in
weightlifting, as India launched its campaign in the 20th Commonwealth Games with a flourish,
winning seven medals in all on the opening day of the competitions here.
July 26: European 400-metre hurdles champion Rhys Williams is out of the Commonwealth
Games after becoming the second Welsh athlete suspended for a doping offense this month.
July 30: Pistol King Jitu Rai kept his reputation intact by clinching the gold medal before
Gagan Narang and Gurpal Singh claimed a silver each to continue the shooters heroics while
young Vikas Thakur overcame pain to bag silver in weightlifting on the fifth day of competitions
in the 20th Commonwealth Games.
July 31: Bhuvneshwar Kumar turned out to be the world crickets bowler for the month of July.

EULOGIES THIS MONTH
July 1: Former Haitian president Leslie Franois Manigat died at the age of 83.
July 6: Louis Zamperini, a 1936 US Olympic distance runner and World War II veteran, died at
the age of 97 due to pneumonia.
July 8: Alfredo Di Stefano, the legend of Real Madrid Football Club died at the age of 88 at the
General Universatario Gregorio Maranon Hospital in Madrid.
July 8: Eduard Shevardnadze, the ex-President of Georgia died at 86.
July 9: Granville Austin of Washington died at the age of 87. He was a renowned scholar of the
Indian constitution and constitutional assembly debates.
July 11: Veteran Actress Zohra Sehgal died at the age of 102. She was called as the grand


old lady of Bollywood due to her association with it for several decades.
July 16: Lorin Maazel, the American conductor of classical music, violinist and composer died
on 13 July 2014 at his home in Castleton, Virginia. He was 84.
July 17: South African Nobel Prize-winning author, Nadine Gordimer died.
July 20: Veteran Journalist Sundaram Sankaran died.
July 21: Retired US astronaut Henry Hank Hartsfield Jr, who flew on three shuttle missions
including as commander of the Discoverys maiden flight, died after an illness at age 80
July 22: Madhukar Singh, an eminent Hindi litterateur died at his residence in village
Dharahara of Bhojpur district.
July 22: Classical singer Sushilarani Patel died due to heart attack. She was 96. She was a
recipient Sangeet Natak Academy award in 2002.
July 22 : American actor James Garner died at the age of 86 in Los Angeles.
July 30: Bangladeshi freedom fighter UK Ching died at the age of 86. The Bir Bikram awardee
died due to a brain stroke.

MISCELLANEOUS NEWS THIS MONTH

July 6 : NASA and Boeing have inked a $2.8 billion deal to develop a giant rocket which is set
to be the largest and most powerful ever built, paving the way for manned missions to Mars.
Boeing has finalised a contract with NASA to develop the core stage of the Space Launch
System (SLS), the most powerful rocket ever built.
July 6: The Supreme Court (SC) of India on 4 July 2014 directed Haryana Government to stop
all illegal mining and stone crushing activities in Aravali Hills region. In its direction, SC gave
two weeks time to stop the process otherwise it will face Contempt of Court proceedings.
July 8: Typhoon Neoguri in the Northwest Pacific is expected to reach super typhoon (super
cyclone) status and it negotiates the east China coast and races towards southern Japan.
July 8 : NASA has fitted a 17-tonne telescope with an effective diameter of eight feet on a


modified Boeing 747 jetliner that the US space agency is using as a flying observatory to study
stars.
July 9: CBI will soon record the statement of former Director, Intelligence Bureau and Governor
of Andhra Pradesh E. S. L. Narasimhan as witness in connection with allegations of bribery in
purchase of 12 VVIP helicopters from Ango-Italian firm AgustaWestland.
July 9: A statue of Mahatma Gandhi will be placed in Londons Parliament Square alongside
other famous statesmen, including his political adversary Winston Churchill.
July 11: Government is committed to endeavour to have housing for all by 2022 by extending
additional tax incentive on home loans to encourage people, especially the young, to own
houses. It has proposed to set up a Mission on Low Cost Affordable Housing to be anchored in
the National Housing Bank.
July 12: A controversial Bill that paves the way for the Polavaram project in Andhra Pradesh by
merging some villages and mandals of Telangana with Seemandhra had been approved.
July 12: Andhra Pradesh will have an All India Institute of Medical Sciences (AIIMS) and Indian
Institute of Technology (IIT) soon. This was announced by Union Finance Minister Arun Jaitley
in his Union Budget Proposals for 2014-15.
July 12: Delhi has become the worlds second most populous city in 2014 after Tokyo.
July 13: Indias Mars spacecraft is scheduled for a rendezvous with the red planet as it is
rapidly coasting towards its target. Mars Orbiter Spacecraft has travelled 525 million km on its
heliocentric arc.
July 13: With an aim towards making unemployed women self-reliant, the New Delhi Municipal
Council has launched a unit where they will be given training to prepare quality food products
and then sell it through a tiffin service. The project was implemented with the setting up of a
canteen, Urja.
July 14: Etihad Airways, UAEs flagship carrier, has announced expansion of its first flight
operations to northeast India with the launch of a daily service between Abu Dhabi and Kolkata.
July 15: As part of efforts to ensure a cleaner and greener environment, the Gujarat
Government will soon introduce a pilot project to run electric buses for public transport
between the state capital Gandhinagar and Ahmedabad.
July 15: The private spacecraft Cygnus was launched from a space pad in the US state of
Virginia, carrying provisions for the orbiting space station crew and other freight. Cygnus, which
launched from NASAs Wallops Flight Facility in Virginia, made its second trip to the space


station.
July 16: Babak Parviz the developer behind Google Glass and other technologies has left
Google to work for the online retailer Amazon
July 17: Heavy metal! NASAs Mars rover Curiosity has discovered its first meteorite on the
Red Planet a huge shiny, lumpy rock made mostly of iron. The rock is an iron meteorite
called Lebanon, similar in shape and lustre to iron meteorites found on Mars by the previous
generation of rovers.
July 18: Rendering world-class facilities with the coming age amusement parks, five theme
parks from India featured in the top 25 list in Asia. The theme parks that have featured in the
list are Wonderla Amusement Park, Bangalore, which was at number seven on the list, Ramoji
Film City Hyderabad at number 10, Wonderla Amusement Park Kochi, at number 13, Science
City Kolkata at number 14 and Essel World Mumbai at number 20.
July 18: A Gujarat-based organisation will organise an international trade show here in a bid to
attract investors to the Saurashtra-Kutch region. "Saurashtra Vyapar Udyog Mahamandal
(SVUM) will organise the show from November 5 to November 10 and it will be attended by
delegates from nearly 65 countries. The president of SVUM is Parag Tejura.
July 19: Finland-based smartphone company, Jolla, has signed an agreement with
Snapdeal.com, India's largest e-commerce marketplace, to launch its handsets in the country.
Jolla runs on independent operating system Sailfish.
July 22: Air Asia India, the domestic arm of Malaysian airline AirAsia, added Kochi to its
network with the launch of a daily flight service from Bangalore.
July 22: German automaker Volkswagen has rolled out the 400,000th car from the
manufacturing facility in Pune. The car is a Polo Highline for the domestic market equipped with
the new 1.5-litre TDI engine.
July 23: Bihar government, has terminated services of 1137 fixed pay teachers in schools as
they had acquired the job on the basis of fake and invalid documents and initiated action
against those responsible for their appointment.
July 23: As per United Natios Report, India has the sixth highest prevalence of child marriage
in the world with one in every three child bride living in India.
July 24: The Prime Minister, Shri Narendra Modi, released a biography of Sardar Vallabhbhai
Patel in Braille. This has been prepared by Dr. A. Saibaba Goud, for the benefit of the visually
challenged. Dr. Goud also runs the Devnar School for the Blind, in Hyderabad.


July 26: Indias own version of Madame Tussauds museum was inaugurated by President
Pranab Mukherjee, with fibreglass statues of former Presidents and eyecatching gifts
received by them from abroad on display.
July 29: IIT Kharagpur will soon introduce a new credit-based system which would allow
students the flexibility to complete a four-year B Tech course in three-and-a-half years.

RECURRING TERMS IN NEWSPAPER THIS MONTH

Universal Immunization Programme: Universal Immunization Programme is a vaccination
program launched by the Government of India in 1985. It became a part of Child Survival and
Safe Motherhood Programme in 1992 and is currently one of the key areas under National
Rural Health Mission (NRHM) since 2005.
Trade Facilitation (TF) Protocol: Trade facilitation looks at how procedures and controls
governing the movement of goods across national borders can be improved to reduce
associated cost burdens and maximise efficiency while safeguarding legi timate regulatory
objectives.
Public Distribution System (PDS): Public distribution system (PDS) is an Indian food security
system. Established by the Government of India under Ministry of Consumer Affairs, Food, and
Public Distribution and managed jointly with state governments in India, it distributes subsidized
food and non-food items to India's poor. Major commodities distributed include staple food
grains, such as wheat, rice, sugar, and kerosene, through a network of public distribution shops
(also known as ration shops) established in several states across the country. Food
Corporation of India, a Government-owned corporation, procures and maintains the PDS.
Small Farmers Agribusiness Consortium (SFAC): Small Farmers' Agri-Business Consortium
(SFAC) was established in 1994. This consortium supports the new ventures in agro-based
industries. Support means capital support as Venture Capital Assistance and Project
Development Facility.
Public Private Partnership: A publicprivate partnership (PPP) is a government service or
private business venture which is funded and operated through a partnership of government
and one or more private sector companies. These schemes are sometimes referred to as PPP,


P3 or P3. PPP involves a contract between a public sector authority and a private party, in
which the private party provides a public service or project and assumes substantial financial,
technical and operational risk in the project.
Protein revolution: Finance Minister Arun Jaitley carried forward the plan of a 4% growth in
agriculture which was set by UPA, but was not realised during the past two regimes. To meet
this ambitious plan, the FM has planned for a technology:driven second Green Revolution that
would focus on higher productivity, including a Protein revolution.
General Anti Avoidance Rules (GAAR) : GAAR limits avoidance of taxes. It was proposed by
the then finance minister Mr. Pranab Mukherjee ( now president), introduced to chapter X-A to
the income tax Act 1961. It directly targets the tax evaders. In Indian law, GAAR is an acronym
for General Anti-Avoidance Rules which are framed to minimize tax avoidance, for example by
siphoning off profits to tax havens.
ABBREVIATIONS THIS MONTH

COSC: Chief of Staff Committee
CCEA: Cabinet Committee on Economic Affairs
CSF: Commonwealth Shooting Federation
NCDEX: National Commodity & Derivatives Exchange Ltd
DFC: Dedicated Freight Corridor
JE: Japanese Encephalitis
CMSA: Chief Minister's Social Assistance
OECD: Organisation for Economic Co:operation and Development
IPHO: International Physics Olympiad
DAE: Department of Atomic Energy
UNSC: United Nations Security Council
ICHR: Indian Council of Historical Research
PMNRF: Prime Minister's National Relief Fund
IAEA: International Atomic Energy Agency


IWGSC: International Wheat Genome Sequencing Consortium
DERC: Delhi Electricity Regulatory Commission
NCRDBD: National Centre for Research & Development in Bulk Drugs
NBA: National Basketball Association
GAGAN: GPS Aided Augmented Navigation system
OCO 2: Orbiting Carbon Observatory-2
STCRC: Short Term Cooperative Rural Credit
NGRBA: National Ganga River Basin Authority

IMPORTANT DAYS THIS MONTH

July 1: Doctors Day
July 4: Independence Day of U.S.
July 5: (first Saturday of July): International Day of Cooperatives
July 6: World Zoonoses Day
July 11: World Population Day
July 12: Malala Day
July 18: Nelson Mandela International Day
July 26: Kargil Vijay Diwas
July 26: International Gaucher Day
July 28: World Hepatitis Day
July 29: International Tiger Day
July 30: World Day against Trafficking in Persons
July 30: International Day of Friendship


SPECIAL FEATURES OF THE MONTH

5th Godrej Expert Sahyadri Cine Awards 2014
CEO, Prasar Bharati, Jawahar Sircar was the Chief Guest at the 5th edition of the Cine Awards
ceremony, organized by DD Sahyadri TV channel of Doordarshan Kendra, Mumbai. It was
sponsored by Godrej expert.
Commonwealth Games 2014
The Glasgow Commonwealth Games 2014, 20th in the series, got off at the Celtic Park in
Glasgow in Scotland from 23 July 2014 to 3 August 2014.
It is the largest multi-sport event ever held in Scotland with around 4,950 athletes from 71
different nations and territories competing in 18 different sports, although the country previously
hosted the 1970 and 1986 Commonwealth Games in Edinburgh.
6th BRICS Summit
The 6th BRICS summit is the sixth annual diplomatic meeting of the BRICS, a grouping of
major emerging economies that includes Brazil, Russia, India, China and South Africa. It is
hosted by Brazil, as the first host country of the current five-year summit cycle, the host city is
Fortaleza. Argentine President Cristina Kirchner was a special guest of the summit. 7th BRICS
Summit will be held in Russian city of Ufa in 2015. Most importantly, the New Development
Bank was officially inaugurated.
Member Represented by Title
Brazil Dilma Rousseff President
Russia Vladimir Putin President
India Narendra Modi Prime Minister
China Xi Jinping President
South Africa Jacob Zuma President


2014 FIFA World Cup
The 2014 FIFA World Cup was the 20th FIFA World Cup. Germany won the tournament,
defeating runners-up Argentina 10 in the final. Brazil was officially elected as host nation
unopposed on 30 October 2007.
Top scorer(s) (Colombia) James Rodrguez (6 goals)
Best player (Argentina) Lionel Messi
Best young player (France) Paul Pogba
Best goalkeeper (Germany) Manuel Neuer
During the 2014 FIFA World Cup, the FIFA Fan Fest in the host cities received 5 million people,
and the country received 1 million guests from 202 countries.

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