16th Lok Sabha Elections 2014: 1st time since 1984 that a single party has got majority in

loksabha
Highest voter turnout ever (66.4%). Earlier best was 64 % in
1984. In 2009 it was 58.2 %
Nagaland (88.6%), Lakshadweep (86.8%), Tripura (84.3%),
Dadra & Nagar Haveli (84.1 %)
Election commission took up voter awareness initiative titled
SVEEP (systematic voter education and electoral participation)
65.31% women electors and 67.71 % male electors voted. Thus
gender gap this tear was just 2.14 % while last time it was 4.42
%
Article 75 (1): - PM will be appointed by president and other
ministers will be appointed by president on his advice.
Article 75 (2): - minister shall hold office during pleasure of
president.
Article 75 (3): - council of ministers shall be collectively
responsible to loksabha.
Article 74 tells about PM and council of ministers.
Narendra Modi is 18th PM
President appoints chief election commissioner and other
election commissioners. They have tenure of 6 years or till 65
years age.
Electoral registration officer is responsible for preparation of
electoral rolls.

 61st amendment, 1988: - minimum age of voting has been

brought to 18 from 21.

National Affairs: Section 377 of IPC related to transgender.

Telangana became 29th state.
Odia becomes 6th classical language. Earlier tamil, Sanskrit,
telugu, kannada and malyalam. Odia is the 1st language from
indo-aryan group.
Jain became 6th minority community of India. Declared by
Ministry of welfare. Earlier Muslims, Christians, Sikhs,
Buddhists and Zoroastrians (Parsi).
Naseem Ahmad chairperson of National Commission for
minority.
Polio eradicated from India.
Supreme Court sets deadline of 1 year for trial against MP and
MLA in lower trail court. The trail court will have to give
explanation to chief justice of high court for not completing trail
in 1 year.
IRCTC launched e-wallet scheme for hassle free ticket booking.
Only PAN card verified users can resister.
Nirbheek Indias 1st revolver designed for women.
Manufactured by Indian Ordinance factory, Kanpur.

 Penguin books India agreed to withdraw from sale and pulp all
copies of the book The Hindus: An Alternative History by
Wendy Doniger. The book emphasises importance of women,
sexuality and those at the bottom of Indias caste hierarchy in
Hinduism.
Indian Govt launched cloud computing project Meghraj to
accelerate delivery of e-services in country. The national cloud
is being implemented by National Informatics Centre.
RBI has decided to withdraw all currency notes issued before
2005. The date for exchanging notes has been extended from
April 2014 to January 2015.
101st Indian science congress held at J & K with theme: Innovations

in

science

and

technology

for

Inclusive

Development.
1st exclusive national university for women and Rajiv Gandhi
National Aviation University to be opened at Rae Bareli.
Bengaluru international airport renamed as Kempegowda
International Airport. Hiriya Kempegowda was a ruler under the
Vijaynagar Empire who ruled most parts of Karnataka during
16th century.
Indian CAG Shashi Kant Sharma elected to UN Board of
Auditors.
Union cabinet approved a proposal to set up legislative council
in Assam with 42 members. Under article 169, parliament can
create or abolish legislative council in state. Till date 6 states

have legislative council: - Andhra Pradesh, Bihar, J & K,

Karnataka, Maharashtra, UP.
Companies Bill, 2012: Every company having net worth of Rs. 500 crore or more, or
turnover of Rs. 1000 crore or more or net profit of Rs. 5 crore or
more during any financial year, shall spend at least 2 % of its
average net profits of the previous 3 years on CSR activities.
ISO 26000 is related to social responsibility.
Every company shall have a Board of Directors and shall have
(a) minimum 3 directors in public company (b) minimum 2
directors in private company (c) minimum 1 director in one Man
Company. Company may have a maximum 15 directors. For
appointing more than 15 directors, it should pass a special
resolution. Such company shall have at least one woman
director.
A company may be formed for any lawful purpose by (a) 7 or
more persons for public company, (b) 2 or more persons for
private company, (c) 1 person for one person company. 1 st time
concept of one person company was introduced. Maximum
members in a private company was increased from 50 to 200.
Public company can have unlimited members.
National Advisory Committee on Accounting and Auditing
Standards (NACAAS) proposed to be renamed as National
Financial Reporting Authority (NFRA).

National Food Security Bill, 2013: It provides for a legal entitlement to 67 % population (75 %
rural and 50 % urban) for subsidized food grains under TPDS
(targeted public distribution system).
The eligible population will have uniform entitlement of 5 kg
food grains per month per person at rate of Rs 3, Rs 2 and Rs 1
for rice, wheat and coarse grain respectively.
The poorest of poor households would continue to receive 35 kg
food grain per household per month under Antodaya Anna
Yojana at subsidized prices of Rs 3, Rs 2 and Rs.
States will identify the eligible households.
Pregnant women and lactating mothers besides being entitled to
nutritious meals will also receive maternity benefit of at least Rs
6000. Children in age group of 6 months to 14 years will be
entitled to take home ration or hot cooked food.
Important Passes in India: Zojila pass Ladakh region, J & K
Karakoaram pass J & K
Khardungla pass - J & K
Bara-lacha-la pass J & K
Banihal pass J & K
Jelep la pass Sikkim

Nathula pass Sikkim

Rohtang pass Himachal Pradesh
Shipkila pass Himachal Pradesh
Palakkad Gap pass Kerala
Thagla pass Uttarakhand
Mana pass Uttarakhand
Lipulekh pass Uttarakhand
Bomdila pass Arunachal Pradesh
G 4 nations: - Brazil, Germany, India and Japan. This group is
formed to demand permanent seats in UN Security Council.
Jordan elected to UN Security Council.
On 8th Nov, 2013, UNESCO suspended the voting rights of US and
Israel due to non-payment of dues of the Paris based UN educational,
scientific and cultural organisation from past two years in the protest
over the grant of full membership to the Palestinians in 2011. Head of
UNECSO Irina Bokova.
13th Council of ministers meeting of IORA (Indian Ocean Rim
Association) was held at Perth, Australia on 1st Nov, 2013. India
chaired it. Its head quarter is at Port Louis, Mauritius.
Croatia became the 28th member of the European Union.

Mexico joined the Australia group as 42nd member.

India has signed MoU (Memorandum of Understanding) with 7
countries Australia, Cambodia, Singapore, Brunei, New Zealand, Lao
PDR and Myanmar on the establishment of Nalanda University.
Year 2014 has been designated by Govt of India and China as the year
of friendly exchange.
The Reserve bank of Zimbabwe approved domestic trading in the
Chinese Yuan (CYN), Indian Rupee (INR), Japanese Yen (JPN), and
Australian Dollar (AUD).
Sahyog Kaijin 2014: - India and Japan joint coast guard exercise at
Kochi.
RBI and Bank of Japan (BOJ) [Governor Haruhiko Kuroda] signed
an agreement to enhance the maximum amount of the Bilateral Swap
Agreement (BSA) between two countries to $ 50 billion. This will be
effective for 3 years from 2012 to 2015.
India and US signed $ 1 billion deal for 6 super Hercules aircraft
under US Govt Foreign Military Sales (FMS) programme.
Summits: 3rd Nuclear Security Summit, 2014 at The Hague, The Netherlands.
Salman Khurshid (minister of external affairs) represented India. 1 st at
Washington in 2010 and 2nd in Seoul in 2012.

3rd BIMSTEC (Bay of Bengal Initiative for Multi Sectorial Technical

and Economic Cooperation) summit 2014 was held at Pyi Taw,
Myanmar. PM Manmohan Singh represented India. Members are: India, Bangladesh, Sri Lanka, Thailand, Myanmar, Bhutan and Nepal.
1st meeting at Bangkok in 2004 and 2nd at New Delhi in 2008. 4th
summit will be held at Nepal.
9th WTO ministerial conference took place in Bali, Indonesia on 3 rd
Dec, 2013. India was represented by Union commerce & industry
minister Anand Sharma. Yemen became 160th member. HQ at
Genewa, Switzerland. Director General: - Roberto Azevedo.
President of World Bank group: - Jim Yong Kim
CEO of International Monetary Fund: - Christine Lagarde. Main
publications: - World Economic Outlook, Global Financial Stability
Report, Fiscal Monitor, Regional Economic Report, Finance &
Development Magazine.
IBRD: - International Bank for Reconstruction & Development
23rd CHOGM (commonwealth heads of government meeting) held at
Colombo on 15th Nov, 2013. Theme was Growth with equity:
inclusive growth. The official symbol was Water lily flower. India
was represented by External affairs minister Salman Khurshid. PM
did not participate due to huge domestic political pressure to boycott
the meeting as a symbol of protest against Sri Lankan patchy human
rights record.

International Petroleum conference 2014 was held at New Delhi with

theme Vision 2030 the emerging global energy basket.
23rd ASEAN summit, 8th East Asia summit and 11th India-ASEAN
summit at Brunei.
24th ASEAN summit at Naypyidaw, Myanmar.
39th G-8 summit at Lough Erne, Ireland. 40th G-8 summit was due to
be held in Russia in 2014. But due to Russias involvement in 2014
Crimean crisis, it will be held in Brussels. Hence it will be G-7
summit. Members are: - Germany, France, UK, US, Italy, Japan and
Canada.
SCO (Shanghai Cooperation Organisation) 2013 meeting was held at
Bishkek, Kyrgyzstan.
G-20 finance ministers and central bank governors meeting took place
in Moscow, Russia.
8th G-20 summit was held at St. Petersburg on 5th Sep, 2013. PM
represented India.
7th regional Pravasi Bhartiya Divas was held at Sydney on 10 th Nov,
2013.
11th ASEM foreign ministers meeting 2013 was held at New Delhi
with theme ASEM: bridge to partnership for growth and
development. It was chaired by External affairs minister Salman
Khurshid.

Awards: 45th Dadasaheb Phalke award 2013 Gulzar. Real name Sampooran
Singh Kalra. It is the highest award of Indian cinema.
Gandhi peace prize 2013 Chandi Prasad Bhatt, piomeer of Chipko
movement.
Pritzker architecture prize 2014: - Japanese architect Shigeru Ban.
This prize was instituted by Hyatt foundation.
Vyas samman 2013: - Hindi writer Vishwanath Tripathi for his
memoir Vyomkesh Darvesh. This prize was instituted by K K Birla
foundation in recognition of hindi literay work published in last 10
years.
Saraswati samman 2013: - Hindi author Govind Mishra for his book
Dhool Paudho Par. He is the 2nd hindi author after Harivansh Rai
Bachchan. This award is given in recognition of outstanding prose or
poetry literary works in Indian languages that are listed in schedule 8.
It is given for literary work of past 10 years.
61st National Film Awards: Best feature film: - Ship of Theseus by Anand Gandhi
Best actor: - Rajkumar for Shahid and Suraj Venjaramoodu for
Perariyathavar in Malyalam
Best actress: - Geetanjali Thapa for Liars Dance in Hindi

Best director: - Hansal Mehta for Shahid

Best popular film: - Bhaag Milkha Bhaag
Best film on social issues: - Gulabi gang by Nishtha
Albel Prize 2014: - Russian mathematician Yakov G Sinai for
fundamental contribution to dynamical systems, ergodic theory and
mathematical physics. This award is presented by King of Norway.
Rajiv Gandhi Khel Ratna Award, 2013: - Ronjon Sodhi for Shooting.
Dronacharya Award, 2013: K P Thomas for lifetime contribution in coaching in Athletics
Raj Singh for lifetime contribution in coaching in wrestling
Poornima Mahto for archery
Mahavir Singh for boxing
Narinder Singh Saini for hockey
Arjuna award to Renjith Maheswari in Athletics was put on hold
because she was tested positive for banned stimulant, ephedrine
during 48th open national athletics meet at Kochi and was suspended
by Athletics Federation of India by 3 months.
48th Jnanpith Award, 2012: - Telugu writer Ravuri Bharadwaja for
his work Paakudu Raallu. It is considered as highest literary award in
India.

Sachin Tendulkar and C N R Rao were awarded Bharat Ratna.

Professor C N R Rao was the 1st Indian to reach the h-index of 100.
He is the 3rd scientist to get Bharat Ratna after C V Raman and A P J
Abdul Kalam. Sachin is the 1st ever sportsperson to be awarded
Bharat Ratna and youngest person alive at the time of receiving the
award. This award is awarded to Indian citizens, including resident
and non-residents, and also to foreigners for highest degree of
national services in art, literature, science and public service of higher
order. But in 2011, Govt modified eligibility criteria from highest
degrees of national service to performance of highest order in any
field of human endeavour to allow eminent sports persons.
Posthumous Bharat Ratna award to Subhas Chandra Bose was
announced in 1992 but was later withdrawn on issue of confirmed
death. The award has been conferred to a naturalised Indian citizen,
Mother Teresa (1980) and two non-Indians Khan Abdul Ghaffar Khan
and Nelson Mondela.
Noble Prize 2013: Physiology or medicine: - James E Rothman (USA), Randy W
Schekman (USA), Thomas C Sudhof (Germany)
Physics: - Peter Higgs (Britain), Francois Englert (Belgium)
Chemistry: - Martin Karplus (US-Austrain citizen), Michael Levitt
(US Israeli British citizen), Arieh Warshel (US Israeli citizen)
Literature: - Alice Munro (Canada)

The Sveriges Riksbank prize in economics in memory of Alfred

Noble: - Eugene F Fama (USA), Lars Peter Hansen (USA), Robert J
Shiller (USA)
Noble peace prize: - Organisation for prohibition of chemical
weapons (OPCW)
OPCW is an intergovernmental organisation located in The Hague,
Netherlands. It implements the chemical weapons convention, the 1 st
international treaty to outlaw an entire class of weapons. Syria was
most recent state to submit its instrument of accession to the treaty.
Sahitya Akademi Awards, 2013: - Javed Akhtar, Hindi novelist
Mridula Garg and Bengali poet Subodh Sarkar.
Man Booker prize 2013: - New Zealand author Eleanor Catton for her
novel, The Luminaries.
Green crusader award of the year: - Maneka Gandhi
Indira Gandhi Prize for Peace, Disarmament and Development, 2012:
- Liberian president Ellen Johnson Sirleaf
Indira Gandhi Prize for Peace, Disarmament and Development, 2013:
-German chancellor Angela Merkel.
Miss Universe 2013: - Gabriela Isler from Venezuela. 1st runner up
Patricia Yurena Rodriguez from Spain. 2nd runner up: - Constanza
Baez from Eucador.

Miss World 2013: - Megan Young from Philippines. 1st runner up

Marine Lorphelin from France and 2nd runner up Carranzar Naa
Okailey from Ghana.
Miss Earth 2013: - Alyz Henrich from Venezuela.
Nathpa Jhakri power project is on the Satluj river in Himachal
Pradesh.
Satya Nadella was appointed CEO of Microsoft.
Khushwant Singh: Started his career with Yojana, the planning commission
magazine which he founded and edited.
Autobiography: - Truth, Love and Little Malice.
Books written by him: - Train to Pakistan, I Shall not Hear the
Nightingale and Delhi a Novel.
Last book: - The Good, The Bad and The Ridiculous.
R. Gandhi was appointed as the Deputy Governor of RBI for 3 years.
RBI has 4 deputy governors. Other 3 are S S Mundra, H R Khan and
Urjit Patel. A deputy governor could be appointed for a maximm of 5
years or till age of 62.
Admiral Robin K Dhawan: - 22nd Chief of Indian Navy.
Rajeev Suri: - President and CEO of Nokia Corporation.

R K Tiwari: - Chairman of CBDT (central board of direct taxes). The

appointment was approved by appointments committee of cabinet
(ACC).
World squash federation president, N Ramachandran was elected
president of Indian Olympic Association (IOA). Kho Kho federation
of India president Rajeev Mehta and All India Tennis Association
chief Anil Khanna was elected as secretary general and treasurer.
The 1st woman MD of a public sector bank in India: - Ranjana Kumar
(CMD of Indian Bank)
Arundhati Bhattacharya was appointed as MD and chief financial
officer of SBI.
Ruchira Kamboj: - next permanent representative of India to
UNESCO.
Rajiv Mathur: - next Chief Information Commissioner (CIC). He
succeeded Sushma Singh. Deepak Sandhu was 1st woman CIC.
Mukul Rohtagi Attorney General of India.
Dalbir Singh Suhag: - new army chief.
J N Choudhary: - new DG of National Security Guards (NSG)
Arvind Rajan: - chief of CISF
Ethiopia is the worlds most populous landlocked country and 2nd
most populous country in African continent after Nigeria.

The Accidental Prime Minister is written by Sanjaya Baru.

Unbreakable is the autobiography of M C Mary Kom.
Current Economy: Repo rate is the rate at which RBI lends the short term money to bank
against securities. (8 %)
Reverse repo rate is the rate at which bank park their short term
excess liquidity with RBI. (7 %)
Cash Reserve Ratio (CRR): - every commercial bank is required to
deposit a certain % of its deposit in form of cash with RBI called
CRR. (4 %)
Bank rate is the rate at which RBI lends money to the commercial
banks. (9 %)
SLR (statutory liquidity ratio): - 22.5 %
MSF (marginal standing facility): - 9 %
Union government on 25th Sep, 2013, notified GAAR (general anti
avoidance rules) that will come into effect from April 2016 and apply
to business arrangements with a tax benefit exceeding 3 crore. It will
apply to foreign institutional investors (FII) that have claimed benefits
under any double tax avoidance agreement (DTAA).
Doha bank won license to start its banking operations in India.

7th Pay Commission will be headed by Supreme Court judge Ashok

Kumar Mathur.
TARC: - tax administration reform commission
Urjit Patel Panel: - to revise and strengthen the monetary policy for
making it transparent and predictable.
Justice Mukul Mudgal committee: - to investigate allegations of IPL
spot fixing.
Interim budget 2014: Income tax rates unchanged.
Fiscal deficit at 4.6 % in 2013-14 and 4.1 % in 2014-15
(estimated).
Revenue deficit at 3 % in 2013-14.
Growth in 3rd and 4th quarter is expected to be 5.2 % and for
whole year expected at 4.9 %.
Target of 3% fiscal deficit of GDP by 2016-17.
Rupee comes from borrowing (25%), corporation tax (21%),
income tax (14%), customs (10%), services tax (10 %), excise
duty (9%), non-tax revenue (8%), non-debt capital receipts (3%)
Rupee goes to interest payments (20%), state share of taxes
and duty (18%), plan assistance to states and UT (16%),
subsidies (12%), other non-plan expenditure (11%), defence
(10%), central plan (10%), non-plan assistance to states and UT
(3%)

IDFC limited and Kolkata based Bandhan Financial services have

been granted by RBI to set up banks.
RBI releases report of Nachiketa committee on comprehensive
financial services. It had recommended that RBI should gradually
abolish SLR (statutory liquidity ratio), the portion of deposits that
banks must compulsorily keep in government securities.
RBI on 15th Jul, 2013 imposed fine of around 49.5 crore on 22 private
and public sector banks including SBI, PNB, Canara bank, Bank of
Baroda, Central bank of India, Indian overseas bank, United bank of
India, YES bank for violating KYC (know your customer)/ antimoney laundering norms.
In accordance with the Govts disinvestment policy, Union Cabinet
Committee on Economic Affairs in July 2013 approved disinvestment
of 10 % paid up equity capital in IOCL, out of its equity capital
holding of 78.92 %.
RBI on 1st Apr, 2014 adopted Consumer price index (CPI) as the key
measure of inflation. It was adopted on the basis of Urjit Patel panel
report. Earlier wholesale price index (WPI) was used.
The proposed Good & Services tax (GST) will subsume sales tax,
excise duty and value added tax.
Approximately, 8 % of Indias GDP was shared by MSME (micro,
small and medium enterprises).

PM inaugurated 1st Bhartiya Mahila Bank in Mumbai. Its main focus

will be on banking needs of women and to promote their economic
empowerment. It has 7 branches Kolkata, Chennai, Ahmedabad,
Mumbai, Bangalore, Lucknow and Guwahati. Its headquarter is in
Delhi. Usha Ananthasubramaniam will be 1st chairperson and MD.
The department of Electronics & IT, ministry of communications &
IT launched E-Inclusion: IT training for rural SC/ ST/ Women
beneficiaries.
In International economic relations and International politics, MFN
(most favoured nation) is a status of treatment accorded by one state
to another in international trade.
IOCL was ranked no 1 on Indias Fortune 500 list.
Corporation tax includes: - profit from business, capital gain, interest
on securities.
In India, mergers and acquisition of firms are regulated by
competition commission of India (CCI).
In India, contribution of food inflation to overall inflation is around
1/3rd to 2/5th. Within food inflation, contribution of food articles is
higher because price rise in food articles is higher and their weight is
also higher compared to food products.
Gujarat was ranked top in the recently released Economic Freedom of
the States of India report 2013.

Impossible trinity or tri lemma is a hypothesis in the international

economics which says that at a given point in time a country cannot
have all three a fixed exchange rate, free capital movement and an
independent monetary policy- existing together.
Economic survey 2013-14: Sectoral share in GDP: - agriculture (14 %), industry (26 %), service
(60 %)
Sports: 2014 Winter Olympics: Held in Sochi, Russia.
Slogan hot, cool, yours
Mascots: - polar bear, snow hare and snow leopard
Russia topped medal tally followed by Norway, Canada, US and
Netherlands.
Laureus Sports Awards, 2014: Sportsman of year: - Sebastian Vettel from Germany in Formula one
Sportswoman of year: - Missy Franklin from USA in swimming
India won its 1st ever bronze medal at junior women hockey world
cup played at Monchengladbach, Germany. Netherlands won after
defeating Argentina. Player of tournament: - Rani (India)
Australian open 2013: - (held in Melbourne on hard court)

Mens singles: - Novak Djokovic (Serbia)

Womens single: - Victoria Azarenka (Belarus)
French open 2013: - (held in Paris on clay court)
Mens singles: - Rafel Nadal (Spain)
Womens single: - Serena Williams (US)
Wimbledon open 2013: - (held in London on grass court)
Mens singles: - Rafel Nadal (Spain)
Womens single: - Serena Williams (US)
US open 2013: - (held in New York on hard court)
Mens singles: - Andy Murray (UK)
Womens single: - Marion Bartoli (France)
ICC world twenty20 2014: Held at Bangladesh
Sri Lanka defeated India in final
Man of match : - Kumar Sangakara
Player of tournament: - Virat Kohli.
Australia won Womens T20 world cup after defeating England.
Union sports ministry derecognised IABF (Indian Amateur Boxing
Federation).

Thomas Bach was elected new IOC (International Olympic

Committee) president.
David Dixon Award is given to the best athlete in commonwealth
games. Last time in 2010, it was given to Trecia Smith from Jamaica
in triple jump.
Odisha is the first state to enact Lokpal act.
PRISM is a tool used by US national security agency (NSA) to collect
private electronic data belonging to users of major internet servers
like gmail, facebook, etc.

PRATIYOGITA DARPAN & CHRONICLE

South Korean industrial giant POSCO gets green clearance for Rs.
52000 crore steel plant in Odisha.
PM laid the foundation of countrys largest 2800 MW nuclear plant at
Gorakhpur village of Fatehabad district in Haryana.
The US senate on Jan 12, 2014 confirmed Janet Yellen as the next
chief of the Federal Reserve, the countrys central bank. She is the 1st
woman to head the institution and also 1st to head a central bank
anywhere in the world.
The Sardar Vallabhbhai Patel National Police Academy, where IPS
officers are trained got its 1st woman chief, Aruna Bahuguna.

U K Sinha has got a 2 year extension till 2016 to continue as SEBI

chief.
N Srinivasan new chairman of ICC from July 2014.
Cheteswar Pujara was named as brand ambassador of Gujarat election
commission.
Australian open 2014: Mens Singles: - Stanislas Wawrinka (Switzerland)
Womens Singles: - Li Na (China)
French open 2014: Mens Singles: - Rafel Nadal (Spain)
Womens Singles: - Maria Sharapova (Russia)
EPFO (employees provident fund organisation) raised interest rate to
8.75 % for 2013-14. The decision was taken by CBT (central board of
trustees).
RBI has recently launched a new bond, IINSS (inflation index
national savings securities). The return of this bond is closely linked
to consumer inflation index. This new instrument will offer an interest
1.5 % per annum. These have a locking period of 10 years.
Union health ministry launched a community intervention based
health programme for adolescents. Rashtriya Kishor Swasthya
Karyakram (RKSK) aims at delivering services to youth from urban

and rural areas, poor and affluent background and also to those in
school or out of school.
RBI has appointed P J Nayak committee to review the governance of
bank boards in India. It says that Govt should reduce its stake in
public sector banks below 50 %. It also recommended that all bank
nationalisation acts and SBI act can be repealed and all banks be
incorporated under companies act. A bank investment company (BIC)
should be constituted to which Govt will transfer its holdings in
banks.
Bank notes in Israel have Braille marking on it so that blind can
identify easily.
HQ of Asian Development bank: - Manila
President of Asian Development Bank: - Takehiko Nkao
2010 Base year for newly introduced Consumer Price Index (CPI)
Stagflation is deflation with growth.
National rural development institute: - Hyderabad
Closed economy is that economy in which there is neither export nor
import.
Siddhartha Birla Chairman of FICCI (federation of Indian chamber
of commerce and industry)
R Chandrashekhar President of NASSCOM ()

U K Sinha MD & CEO of MCX-SX

Govt has notified new gas price mechanism applicable to all
domestically produced natural gas for 5 years from 1st April, 2014.
Sodhi committee review of insider trading regulations.
World economic situation and prospects report is associated with
United Nations.
Govt recently proposed plan to raise FDI limit to 30 % from 26 % in
almost all sectors.
The telecom commission approved the enhancement of FDI limit in
telecom sector from 74 % to 100 %.
The import duty on sugar was hiked to 15 % from 10 %.
Muthoot Finance got approval from RBI for establishing and
operating white label ATMs.
Bank International Indonesia recently launched its operations in India
by opening a branch in Mumbai.
India recently signed an agreement with Albania for avoidance of
Double Taxation.
India set up a joint committee with Vietnam to outline a plan for
collaboration in information and communication technology.
ING Vysya Bank entered into a business with IRCTC to offer online
train ticketing services to its customers.

Canara bank has won Golden Peacock award for excellence in

corporate governance 2013.
HQ of African Development Bank: - Adibian, Ivory Coast
President of African Development Bank: - Donald Kaberuka
The govt has fixed the MSP (minimum support prices) for rabi crops
of 2013-14 season to be marketed in 2014-15. For wheat it is 1400 per
quintal with an increase of 50. For barley, it is raised by 120 to 1100
per quintal. For grain and masur (lentil), it is raised by 100 and 50 to
3100 and 2950 per quintal. For mustard, it is raised by 50 to 3050 per
quintal and for safflower; it is raised by 200 to 3000 per quintal.
Current account deficit has declined to 0.9 % of GDP in third quarter
of 2013-14.
RBI has allowed 5 private banks to import gold. These are HDFC
bank, Yes bank, Axis bank, Kotak Mahindra bank and IndusInd Bank.
Facebook announced its purchase of mobile messaging service
Whatsapp for $ 19 billion. It had already bought Instagram for $ 1
billion in 2012.
Viber has been acquired by Japanese company Rakuten for $ 900
million.
At end Dec, 2013, Indias external debt rose to $ 426 billion recording
an increase of 21.1 billion (5.2 %). Indias external debt to GDP ratio
stood at 23.3 % at end Dec, 2013.

Apna Khet, Apna Kam, a new scheme under MNREGA, has been
initiated in Rajasthan.
Tax on local fairs is collected by panchayat.
Shome panel for putting forward the recommendations on GAAR
As per 1st advance estimate of CSO, the growth rate for agriculture is
4.6% and for industrial sector is 0.7 %. Highest growth rate is for
service sector while manufacturing has been estimated to have
negative growth rate.
ATM installed by non-banking companies is known as white label
ATM.
RBIs 1st bi-monthly statement of monetary policy 2014-15 was
announced on 1st Apr, 2014. The repo rate and the reverse repo rate
have kept unchanged at 8% and 7%. Marginal Standing Facility
(MSF) and bank rate has also been retained at 9 %. Cash Reserve
Ratio (CRR) has also been left unchanged at 4%.
RBIs 2nd bi-monthly statement of monetary policy 2014-15 was
announced on 3rd Jun, 2014. The repo rate and the reverse repo rate
have kept unchanged at 8% and 7%. Cash Reserve Ratio (CRR) has
also been left unchanged at 4%. Statutory liquidity ratio (SLR) has
been reduced from 23 % to 22.5 %. It reiterated CPI inflation target of
8 % by Jan 2015 and 6 % by 2016. It expected economic growth for
2014-15 to be between 5-6%. It has also decided to reduce the

liquidity provided under the export credit refinance (ECR) facility

from 50 % to 32 %.
In line with RBIs forecast of 5.5% GDP growth during 2014-15,
Asian Development Bank also projected Indias economy to grow at
5.5% from 4.9% in 2013-14.
FICCI also projected 5.5% growth in 2014-15.
Sun Pharma has bought Ranbaxy from Japans Daiichi in a landmark
$ 4 billion transaction.
During 1st three quarters of 2013-14, the growth rate of Indian
economy stood at 4.4%, 4.8% and 4.7% respectively.
For 2014-15, new chairman of CII (confederation of Indian industry)
will be Ajai S Sriram.
President on May 2014 dedicated to the nation indigenous card
payment network Ru Pay taking on global players like visa and
master card.
Reliance industries acquired 78 % stakes in Network 18 & 9 % in TV
18 for Rs. 4000 crore.
Smart money is a term used for credit card.
Note issuing department of RBI should always possess the minimum
gold stock of worth Rs. 115 crore.

The basis of determining DA to employees in India is Consumer Price

Index.
RBI would establish a fund DEAF (depositor education and
awareness fund) which would comprise unclaimed funds of
depositors.
BTT banking transaction tax
PPP purchasing power parity
India extends tourist visa-on-arrival facility to South Korea with a
maximum validity of 30 days.
India and Bhutan ink pact to develop hydropower projects.
BBPS Bharat Bill Payment Services.
Bhartiya Mahila Bank has been included in 2nd schedule of the RBI
act. Now the total number of schedule commercial banks in India is
90.
SEBI signs MoU with Botswanas regulatory authority to promote
mutual assistance and information exchange related to securities
markets in both countries.
NBFIRA non-banking financial institutions regulatory authority
RBI has decided to compute and release the Real Effective Exchange
Rate (REER) on the basis of the consumer price index from this
financial year.

The MCX stock exchange (India) has launched SxBank, a new index
to provide a benchmark to capture the performance of the banking
sector. It consists of 10 most liquid and large capitalised stocks from
the banking sector.
SBI has launched a financial scheme for women fashion boutique
owners. It offers working capital expenses and term loan for
boutiques owners. The maximum loan to be made available would be
Rs 50 lakh for a period of seven years.
Anand Sinha Committee recommends benchmark for floating interest
rate.
The national innovation council (NInC) and the Ministry of Micro,
Small and Medium Enterprises (MSME) jointly announced the
creation of IIIF (India Inclusive Innovation Fund).
India and Fiji have signed a DTAA for avoidance of double taxation
and for prevention of fiscal evasion with respect to taxes on income.
The cabinet committee on economic affairs (CCEA) has approved the
scheme National Mission for Green India. It is one of 8 missions
under National Action Plan on climate change. It aims to increase
forest cover on 5 million hectares of forest / non-forest land and
improve quality of forest cover on another 5 million hectare.
Union govt has launched a new scheme Saksham for empowerment of
adolescent boys. It is aimed at all round development of adolescent

boys to make them self-reliant, gender sensitive and good citizen as

they grow up.
US has hosted 1st ever ministerial level meeting to build support for
cooperation in space in Washington.
FATF financial action task force. Its report is meant to show
progress in combating money laundering in the world.