General awareness february 2015 issue

GENERAL AWARENESS – FEBRUARY 2015 1
GENERAL AWARENESS
FEBRUARY 2015
Vol. 3, Issue 08
A PUBLICATION OF GYANM EDUCATION &
TRAINING INSTITUTE PVT. LTD.
SCO 13-14-15, 2ND FLOOR, SEC 34-A, CHANDIGARH
CONTENTS
CURRENT AFFAIRS
OCT TO DEC 2014
1-27
BULLET NEWS
JULY TO SEP 2014
29-40
444 – IT MCQs 41-58
IBPS SO–IT MOCK TEST 60-75
LATEST GK BULLETS 76-99
FIGURES TO REMEMBER
REPO RATE 8.00%
REVERSE REPO RATE 7.00%
MARGINAL STANDING FACILITY
RATE
9.00%
STATUTORY LIQUIDITY RATIO 22%
CASH RESERVE RATIO 4.00%
BANK RATE 9.00%
BASE RATE(s)
(of various banks)
9.80% –
10.25 %
INDIA’S RANK IN
Travel and Tourism Index 65th
Corruption Perceptions Index 85th
The Web Index 2014 48th
Global Terrorism Index 2014 6th
Global Slavery Index 2014 1st
Gender Gap Index 114th
Ease of Doing Business (World Bank) 142nd
Global Hunger Index 2013 55th
Global Competitiveness 71st
Human Development Index 135th
Global Innovation Index 76th
Economic Confidence Index 01st
Choice for FDI 143rd
Press Freedom Index 2014 78th
Social Progress Index 102nd
World Press Freedom Index 140th
Environment Performance Index 155th
NATIONAL NEWS
DECEMBER 2014
Bharat Ratna for Vajpayee and Malviya
Former Prime Minister Atal Bihari Vajpayee and Late Pandit Madan Mohan Malaviya
will be honoured with Bharat Ratna-country's highest civilian award. The
announcement was made in a press communique issued by the Rashtrapati Bhawan
on Dec 24 on the recommendation of the Prime Minister.
Atal Bihari Vajpayee is an Indian statesman who was
the first Prime Minister from outside Congress to serve a
full five-year term from 1998 to 2004. A parliamentarian
for over four decades, Mr. Vajpayee was elected to the
Lok Sabha nine times, and twice to the Rajya Sabha. He
completed 90 years on 25th
December. He is the seventh
Prime Minister to receive the award.
Pandit Madan Mohan Malviya was an Indian
educationist and politician well known for his role in
Indian freedom struggle. He was the President of the
Indian National Congress in 1909 and 1918. He is most
remembered as the founder of Banaras Hindu University,
the largest residential university in Asia. 25 Dec
marks his 153rd
birthday. He is the 12th person to be
named posthumously for Bharat Ratna.
PUTIN OPENS ECONOMIC DOORS FOR INDIA
Russian President Vladimir Putin arrived in New
Delhi to attend the 15th India-Russia annual
summit on Dec 11.
 He addressed the World Diamond Congress
held at Vigyan Bhavan, New Delhi.
 Russian diamond mining giant ALROSA
agreed to supply diamonds worth $2.1 billion in the next three years to 12
Indian companies.
 Russia's atomic firm Rosatom agreed to supply 12 nuclear energy reactors to
India over next 20 years,
 Russian oil major Rosneft signed a 10-year crude supply deal with India’s Essar
Oil.
 The two countries agreed to enhance the bilateral trade from current $10 billion
to $30 billion by 2025.
 The two leaders unveiled the ‘Druzhba (friendship in Russian)-Dosti' vision to
strengthen the bilateral partnership over the next decade
GANDHINAGAR TO HOST 13TH
PBD
13th
Pravasi Bharatiya Diwas will be held from 7th to 9th
January at Gandhinagar in
Gujarat. It will celebrate 100 years of Mahatama Gandhi's return from South Africa to
India on 9th
January, 1914. This year’s theme is ‘Apna Bharat, Apna Gaurav’

INDIA 65TH
IN WORLD IN TOURISM
World Economic Forum (WEF) released the 2013 Travel &
Tourism Competitiveness Index. The index assesses 140
nations for their efforts made to develop the travel and
tourism sector. India has been placed at 65th position in
the index topped by Switzerland.
INDIA PLACED 85TH
IN CORRUPTION INDEX
As per the Corruption Perceptions Index – 2014 released by
the Transparency International, India stands at 85th
position among 175 countries, (scoring 38 marks) as against
94th last year. India shares its position with Sri Lanka.
Denmark retained its position as the least corrupt country
with a score of 92 while North Korea and Somalia shared
the last place, scoring just eight.
JUNE 21 IS INTERNATIONAL YOGA DAY
On Dec 17, the UN General
Assembly (UNGA) adopted a
resolution to declare June 21 as
International Yoga Day,
recognising the ancient Indian
science's "holistic approach to
health and well-being." Indian
Prime Miniser Mr. Modi had
made the proposal during his
address to the UNGA on 27th of
September this year.
Why June 21? It marks the beginning of summer solstice
in Northern Hemisphere and is the longest day of the year
receiving highest amount of solar energy.
28000 CRORE SUPPORT FOR NORTH EAST
Focusing on improving connectivity to the north-east,
Central govt plans to provide Rs 28,000 crore for laying new
railway lines in the region and develop the "untapped"
tourism potential of the area. Besides, Rs 5000 crore each
will be provided for extending 2G mobile coverage and for
improvement of power system in northeastern region.
INDIA TOPS IN OUTFLOW OF BLACK MONEY
As per the Global Financial Integrity, India figures among
the top three countries that witnessed highest outflow of
black money in 2012 with about 94.76 billion US dollars or
nearly 6 lakh crore rupees going out of the Country.
INDIA FARES 48TH
ON INTERNET UTILISATION
The Web Index 2014 released by World Wide Web
Foundation to measure the internet's contribution to social,
economic and political progress in the world has placed
Denmark on top followed by Finland and Norway.
India stands at 48th
rank.
 The birthday of the former Prime Minister Atal Behari
Vajpayee on the 25th of December will be observed as
National Good Governance Day.
 Mahaparinirwan Diwas observed on 6 December
2014, death anniversary of Dr BR Ambedkar.
 The Times Higher Education (THE) Rankings 2015 of
UK has placed Bangalore-based IISc at No. 25 in the
overall 100, topped by China's Peking University.
 India’s most prestigious Indian classical music function
– The Tansen Sangeet Samaroh held at Gwalior,
Madhya Pradesh.
 The first Arabic translation of the Indian Constitution
launched by the Arab League in Cairo, Egypt.
 Bangladesh President Abdul Hamid arrived in
Kolkata on a two-day visit to West Bengal.
NOVEMBER 2014
PM VISITS MYANMAR, AUSTRALIA AND FIJI
On Nov 11, Prime Minister Narendra Modi left India for a ten
day foreign visit, starting from Nay Pyi Taw, Myanmar
where he attended the ASEAN-India Summit on 12th
Nov.
He attended the 7th
East Asian Summit there on Nov 13.
On the sidelines of the summits,
he met Chinese Premier Li
Keqiang, Malaysian PM Najib
Razak, Russian Premier Dmitry
Medvedev, Thai PM Gen Prayut
Chan-o-Cha.
He also met Myanmar’s
opposition leader and Nobel
Laureate Aung San Suu Kyi.
ASEAN is a group of 10 countries – Indonesia, Malaysia,
Philippines, Singapore, Thailand, Vietnam, Laos, Myanmar,
Cambodia and Brunei with headquarters at Jakarta,
Indonesia.
Next ASEAN summit is to be held in Cambodia, March, 2015.
East Asia Summit is an extended version of ASEAN in
which eight more countries are members – India, China,
Japan, Australia, New Zealand, Russia, USA and South
Korea.
NOV 14: Modi reached Brisbane, Australia to attend Heads
of Nations meet of G-20 nations on 15th
-16th
Nov.
NOV 17: Modi addressed Indian diaspora at Allphones
Arena, Sydney. Mr. Modi assured life time visa to PIO and
OCI card holders. PIO–Persons of Indian Origin
OCI–Overseas Citizens of India
NOV 18: Modi addressed the Australian Parliament at
Canberra, first Indian Prime Minister to do so. Later in day
he visited Melbourne where Australian PM hosted a dinner
for him at the 116 year old Melbourne Cricket Ground.
India and Australia signed five pacts on social security,
transfer of sentenced prisoners, combating narcotics trade,
tourism, and arts and culture.
Prime Minister: Tony Abbott Capital: Canberra
Monarch: Queen Elizabeth Nick name: Aussie, Oz
NOV 19: Modi arrives in Fiji. He addressed their Parliament,
becoming first foreign dignitary to do so. He announced a
$75 million line of credit for a power plant and upgrading
the sugar industry.
Fiji Prime Minister: Frank Bainimarama Capital: Suva
NOV 20: Mr. Modi flied back to India.

MODI WOOS SAARC NATIONS
The two-day 18th
South Asian
Association for Regional
Cooperation (SAARC) summit
was held at Kathmandu from
26th
Nov to 27th
Nov, with an
agenda to improve connectivity
among member states for
boosting trade, collectively
fighting the poverty and
illiteracy. The eight members
signed the SAARC Framework on Energy (Electricity)
Cooperation to facilitate inter country trading of electricity.
Theme: 'Deeper Regional Integration for Peace and
Prosperity'
New Chairman of SAARC: Mr. Sushil Koirala, Prime
Minister of Nepal
FIVE PROPOSALS BY INDIA AT SAARC:
1. SAARC Business traveller card for all member countries
2. Easy visa for medical treatment visits
3. Online courses and e library for South Asian students
4. To provide five – in – one vaccine for children and
support for polio free all countries
5. To provide funds for TB-HIV laboratory
The SAARC has eight members: Afghanistan, Bangladesh,
Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka
with permanent headquarters at Kathmandu, Nepal.
The 19th
SAARC summit will be held in 2016 in
Islamabad, Pakistan.
RUSSIAN DEPUTY PM VISITS INDIA
Dmitry Rogozin, Deputy Prime Minister of Russia visited
India to attend 20th session of the India-Russia Inter-
Governmental Commission on Trade, Economic, Scientific,
Technological and Cultural Cooperation at New Delhi.
SAINTHOOD FOR TWO NATIVE INDIANS
In a canonisation ceremony presided over by Pope Francis
II in the Vatican on Nov 23, Sainthood was granted to two
Indians - Father Kuriakose Elias Chavara, popularly known
as Chavara Achen, and Sister Euphrasia, popularly known as
Evuprasiamma. Both of them hail from the Syro Malabar
Catholic Church, Kerala. The only other native Indian to get
sainthood - Sister Alphonsa (2008) is also from this church.
NGOs TO WORK AGAINST OPEN DEFECATION
Three global organisations on 24 November 2014 signed a
memorandum of understanding (MoU) to end open
defecation in India. The agreement is for three years.
These three organisations are the World Toilet Organisation
(WTO), WASTE and the Financial Inclusion Improves
Sanitation and Health (FINISH).
INDIA 6TH
WORST HIT BY TERRORISM
Institute for Economics and Peace, Sydney released Global
Terrorism Index 2014. The Index provides ranks for 162
countries in terms of impact of terrorism. Iraq continues to
be worst affected where 6362 lives were lost in 2013 due to
terrorism. India is 6th
worst affected nation.
INDIA TOPS IN HUMAN SLAVERY NUMBERS
With over 14.2 million in India being involved in forced
labour and being victims of trafficking-for sexual exploitation
and forced marriage, the country is home to the largest
number – about 40 per cent of the people trapped in
modern slavery. As per the Global Slavery Index 2014,
published by the Walk Free Foundation in Perth, Australia,
around 35.8 million people are enslaved across the world.
 President Pranab Mukherjee visited Bhutan on a
two-day visit - 7-8 Nov. He is the first Indian head of
state to visit to the country in 26 years.
 6th
World Ayurveda Congress held in New Delhi
from 6 to 9 November 2014. This year’s theme was
“Health Challenges and Ayurveda”.
 A latest UN report says that, India has the world’s
largest youth population with 356 million 10-24-year-
olds, followed by China.
 Public Service Broadcasting Day observed on 12th
Nov to commemorate Mahatma Gandhi's first and only
visit to All India Radio.
 Indian Renewable Energy Development Agency Ltd
(IREDA) and US Export-Import (Exim) Bank signed an
MoU for cooperation on clean energy investment.
 The 45th
International Film Festival of India
(IFFI) began in Goa on November 20. China is the
focus country of this festival.
 Children's Film Society of India organised the first
edition of the National Children's Film Festival from 14
to 16 Nov at New Delhi.
 The World Economic Forum (WEF) in partnership with
the Confederation of Indian Industry (CII) hosted the
India Economic Summit in New Delhi from Nov 4 to 6.
 Prasar Bharti announced to re-launch DD National with
new tagline Doordarshan National – Desh Ka Apna
Channel.
 India and Bhutan signed an MoU on 7th Nov. for the
establishment of Nalanda University in Bihar to develop
the institution as an international centre of excellence.
 Sushma Swaraj: External Affairs Minister visits Dubai
on Nov. 10.
 India and Republic of Korea signed a Memorandum of
Understanding to facilitate technical cooperation in
Railway sector between the two countries.
 First Commonwealth Science Congress was held in
Bengaluru on 25th
November.
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OCTOBER 2014
PRESIDENT VISITS NORWAY, FINLAND
President Pranab Mukherjee became the first ever Indian
head of state to visit Norway. Over a dozen pacts were
signed with Norway to step up cooperation in defence,
science and technology, education and other sectors.
President visited the village of Santa Claus and crossed the
Arctic Circle. India has a station ‘Himadri’, located in the
middle of North Pole and Norway. In Finland, the two
countries signed an agreement for nuclear cooperation.
VIETNAM PM VISITS INDIA
Nguyen Tan Dung, Vietnam Prime Minister came on a two-
day visit to India. The two countries agreed to have sister city
ties between Ho Chi Minh City and Mumbai. Agreement was
also signed for extending India’s role in oil exploration in
South China Sea.
INDIA MOVES UP ON HUNGER INDEX
Although still behind neighbouring Nepal and Sri Lanka,
India made some progress in reducing poverty level though
its status remains classified as "serious" on the Global
Hunger Index 2014. India ranks 55th on GHI, (up from 63rd
in 2013) better than Pakistan and Bangladesh (ranked 57),
but trails behind Nepal (44) and Sri Lanka (39).
Compiled by the International Food Policy Research Institute
(IFPRI), the GHI ranks 120 countries on three equally
weighted indicators the proportion of people who are under-
nourished, the proportion of children under five who are
underweight, and the mortality rate of children under five.
100 YEARS OF ‘KOMAGATA MARU’ INCIDENT
commemoration of the historic Komagata Maru incident on
29th September. A set of commemorative coins of
denominations of Rs 100 and Rs 5 was released to mark the
occasion.
‘Komagata Maru’ was the name of the steamer that
carried 376 passengers, mostly immigrants from Punjab,
from Southeast Asia to Canada. The ship was denied
docking in Vancouver owing to discriminatory immigration
laws of Canada. The steamer returned to India and docked
at Budge Budge, Kolkata on September 27, 1914. Local
British guards denied the entry to immigrants led by Baba
Gurdit Singh, following which a riot took place in which 19
Indians were killed.
WORK BEGINS ON 'STATUE OF UNITY'
The work order for 'Statue of Unity' — the world's tallest
statue (182 mts) of India's first Home Minister Sardar
Vallabhbhai Patel has been issued by the Gujarat Govt to
leading engineering company Larsen and Toubro (L&T).
INDIA SIGNS MINAMATA CONVENTION
India has signed the Minamata Convention on Mercury to
control and reduce emissions from the power plants. The
convention is named after the Japanese city Minamata that
has become synonymous with deadly mercury
contamination since 1950.
BIRTH CENTENARY OF BEGUM AKHTAR
Union Ministry of Culture launched a year – long birth
centenary celebrations of Ghazal and Thumri singer Begum
Akhtar (07-10-1914). Her original name was Akhtar Bai
Faizabadi. A set of commemorative coins of 100 rupees and
5 rupees was released on the occasion.
US TO PROMOTE SMART CITIES IN INDIA
In a boost to India's 100 smart city programme, the US govt
has assured its support for developing three such cities -
Allahabad, Ajmer and Visakhapatnam. Govt has allocated a
sum of Rs 7,060 crore for this purpose in the Union Budget.
AUSTRALIA TO SUPPORT INDIAN PROJECTS
Australia announced 13 innovative projects with India that
would support new cutting-edge collaborative research
partnerships between universities, professional bodies and
private sector organisations of the two countries.
HUDHUD LASHES OUT VISAKHAPATNAM
Areas around Visakhapatnam on Andhra coast were severely
lashed by the super cyclone Hudhud, causing widespread
destruction. The Cyclone developed due to a deep
depression over north Andaman Sea and moved towards
Andhra Pradesh, striking the coast around Visakhapatnam
with strong winds blowing at speed of around 200 kmph.
Prime Minister announced a relief package of Rs. 1,000
crore for the cyclone hit area. Hudhud is the Arabic name
of Hoopoe bird, which is the national bird of Israel. The
name was suggested by Oman.
INDIA FARES WORST IN PENSION INDEX
The Melbourne Mercer Global Pension Index – 2014 has
ranked India’s retirement system lowest among the 25
countries surveyed, as less than 6% of the working
population in the country is covered under private pension
plans. The list is topped by Denmark.
INDIA RANKS LOW ON GENDER GAP INDEX
India has performed poorly in removing gender-based
disparities, ranking 114 out of 142 countries in World
Economic Forum's 2014 Gender Gap Index, scoring low on
parameters like economic participation, education, health
and survival. Iceland tops the list with the most equitable
sharing of resources among men and women, followed by
Finland, Norway.
‘DOING BUSINESS’ STILL NOT EASY IN INDIA
India has been placed at 142nd rank among 189 countries in
the latest World Bank’s “Ease of Doing Business” report. The
latest ranking, however, does not take into account the
latest slew of measures taken by Modi Government to make
India a business friendly destination. Singapore tops the list
88.27 points, followed by New Zealand, Hong Kong.

NO INDIAN UNIVERSITY IN TOP 200
None of India’s 600 plus universities finds a place in the
global top 200 Times Higher Education Rankings powered
by Thomson Reuters. Panjab University, Chandigarh, retains
its position as the highest ranked Indian university at 226
place. In the institutions, the Indian Institute of Science
(IISc), Bangalore, stands at 276-300 bracket.
 Cyclone Nilofar, a very severe cyclonic storm hit
Gujarat coast. The name Nilofar was given by Pakistan.
 John Baird, Canada's Foreign Minister has said that
Canada has agreed to sign commercial contracts for
supply of uranium for Indian nuclear reactors.
 India signed a Memorandum of Understanding on
Culture Cooperation with UK for next five years.
 A commemorative postage stamp on Sri Lankan
Buddhist revivalist and writer Anagarika Dharmapala
was released by the President.
 Government decides to commemorate Sardar
Vallabhbhai Patel’s birth anniversary (October 31) as
“National Integration Day”- Rashtriya Ekta Diwas.
 India and Mexico signed a MoU for cooperation in space
and working together in the areas of remote sensing
 and satellite communication.
 India and Nepal have signed a Power Trade Agreement
to promote cooperation in the field of production and
transmission of electricity.
 India Heritage Research Foundation, Rishikesh has
released the ‘Encyclopedia of Hinduism’ consisting
of 11 volumes and approximately 7000 entries.
 India will contribute $4 million in the $5.4 billion aid
pool formed by the global donors for rebuilding the
Gaza Strip destroyed in the conflict with Israel.
 Prime Minister addressed the nation on Oct 3 for the
first time over radio in the programme ‘Mann Ki Baat’
to reach out to maximum audience.
NEWS FROM STATES
DECEMBER 2014
WORLD’s LARGEST HUMAN FLAG
India set a new world record
on Dec 7 for forming the
largest human flag, when
over fifty thousand
volunteers formed the
Indian Tricolour, at YMCA
Grounds in Chennai, beating
the previous record held by the Sports Club of Lahore where
28,957 people formed the flag of Pakistan.
DIAL 161 FOR 4000 SERVICES IN KARNATAKA
On Dec 8, Karnataka launched “Mobile one” e-governance
initiative to enable public to access 4000 government and a
few private services on their mobile phones just by dialing
161. They can pay electricity, water and BSNL telephone
bills through their phones. Farmers can know about
monsoon, market rates and subsidies. The young aspirants
can know about job offers in private sector.
 The Jaipur Literature Festival, scheduled from
January 21 to 25, to be held at Jaipur, Rajashtan.
 On Nov 29, Meghalaya got its first rail link when PM
Modi flagged off a train from Maligaon, Guwahati to
Mendipathar in Meghalaya, a distance of 131 kms.
 Andhra govt signed a MoU with Singapore for the
development of its new capital that is set to come up
near Vijawayada region.
 The New Year festival of Tibetans known as Losar
festival is celebrated mainly in Lahaul Distt. It denotes
the start of winter session in the valley.
 Maharashtra to observe the year 2015 as “Year of
Digitised and Time-Bound Services” to standardise,
simplify and deliver the services electronically.
 Arunachal Pradesh won the Krishi Karman Award for
the year 2013-14 for showing exemplary agri-
performance in 14 different categories.
 Manipur to set up a Cultural University to promote its
rich cultural heritage, like Russia’s Moscow State Art
and Cultural University.
 Militants of the National Democratic Front of Bodoland
(Songbijit) gunned down over 80 persons on Dec 23 in
Sonitpur and Kokrajhar districts of Assam.
NOVEMBER 2014
FIR KIOSKS SET UP AT BENGALURU
The Bengaluru City Police has set up a kiosk that lets
anyone file an FIR at any time, irrespective of where an
incident such as theft or accident may have occurred. The
kiosk, equipped with HD audio-video and a touch screen,
will enable citizens to speak to a police officer and also sign,
print and scan documents.
LUCKNOW - AGRA EXPRESSWAY
The proposed 302 km long Lucknow - Agra Expressway in
UP would be the country’s longest access controlled six lane
expressway. It would be 110 meters wide and would cut
down travel time from Lucknow to Agra from existing eight
hours to less than four hours.
 Madhya Pradesh has been chosen for union
government’s Best State Award for Empowerment of
Disabled for year 2014.
 The Karnataka Government aims at construction of 10
lakh toilets by 2018 and make the state completely free
from open defecation.
 Assam State Zoo in Guwahati has become the first zoo
in the world to house the critically endangered
pig Pygmy Hog.
 Kerala has decided to cull about 2,00,000 poultry birds
as a precautionary measure against the H5NI avian
influenza virus.
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OCTOBER 2014
ANDHRA TO WAIVE FARMERS LOANS
Andhra Pradesh government has launched the Rythu
Saadhikara Samstha (Farmers Empowerment Corporation) to
provide agricultural debt redemption to farmers and also to
act as a 'one-stop-shop' for farmer development, welfare
and empowerment activities. All farmers who availed crop
loans of up to Rs 1.5 lakh would be benefitted.
KERALA TO PROTECT OLD TREES
To protect grand old trees in public places, Kerala Forest
Research Institute plans to mark them with a "health-card"
that will show its strength condition, risk factors and details
of damage etc.
 Union government plans to set up a mega handicraft
cluster in Kachch, Gujarat to promote handcraft items
and craft based textiles.
 Madhya Pradesh tops iin the field of organic farming
producing about five lakh metric ton of farm products,
 about 40% of the country’s total organic produce.
 The Kerala Government will provide free treatment to
every cancer patient in the state under the project
‘Sukrutham’ at major government hospitals.
 Kerala would become the first state in India to have
high-speed internet connecting all the panchayats in
 the state by March next year.
 Union Govt launches Jammu Kashmir Arogya Gram
Yojna to promote cultivation of scientifically tested and
commercially beneficial aromatic and medicinal plants.
GOVERNMENT
INITIATIVES
DECEMBER 2014
NATIONAL MISSION FOR TEACHERS
Prime Minister launched a Rs 900-crore scheme "Pandit
Madan Mohan Malaviya National Mission on Teachers and
Teaching" at Benaras Hindu University, Varanasi on Dec 25
aimed at creating an environment for producing high quality
teachers.
MISSION INDRADHANUSH FOR VACCINATION
Government has launched Mission Indradhanush to
cover all those children by 2020 who are either
unvaccinated or partially vaccinated against seven vaccine
preventable diseases - Diphtheria, Whooping Cough,
Tetanus, Polio, Tuberculosis, Measles and Hepatitis B.
GRAHAK SUVIDHA KENDRAS FOR CONSUMERS
Government has decided to set-up Grahak Suvidha Kendras
(Consumer care centres) to provide counseling to
consumers in redressal of their grievances and assist them
in registering their complaints in the appropriate consumer
forums. The Centres will also be authorized to take up
complaints with private companies and service providers on
behalf of the government.
ORDINANCE FOR 49% FDI IN INSURANCE
On Dec 24, Union Cabinet approved promulgation of the
ordinance on Insurance Bill to raise foreign investment cap
in the insurance sector from 26 to 49 per cent. It re-
promulgated the ordinance to allow resumption of coal block
allocation. It also opened the medical devices sector to
foreign investment by allowing 100 per cent FDI in these.
GST - ONE NATION, ONE TAX, ONE MARKET
After many hiccups, a nationwide goods and service tax
(GST) seems to be inching towards becoming a reality
WHAT HAPPENED?
The Union Cabinet on Dec 17 cleared the Constitution
Amendment (122nd) Bill on Goods and Services Tax (GST),
and presented the bill in Lok sabha on Dec. 19.
WHAT NEXT?
 Parliament will have to pass it by a two-third majority
and at least half of state Assemblies
 It will likely take up the Bill in the Budget session that
begins in February 2015.
 Govt plans to roll out GST by April 1, 2016
WHAT WILL GST DO?
 It will offer a single-shot solution by subsuming a group
of local levies into one system
 State impose different taxes with varying rates on the
same products
 For instance, a car’s price will vary among states
because of different rates of taxes such as VAT, octroi
and road tax
 GST will remove all these, virtually making India a
single market
 Alcohol and tobacco will remain outside GST
 GST will empower states to collect service taxes
 States and the Centre will collect identical rates of taxes
 If 16% is the GST on a good across the country, the
states and the Centre will get 8% each by the name
CGST and SGST rates
TAX RATES
 The GST rates on goods have not been specified in the
Bill
 A GST council headed by the union finance minister and
represented by state FMs will decide on the rates
WHAT ABOUT ENTRY TAX?
 States will be allowed to collect an inter-state tax, for
upto 2 years, an additional tax of 1%
COMPENSATION?
States feared that GST’s implementation will rob them of
fiscal powers and erode revenues
 The Constitution Amendment Bill offers a compensation
package for 5 years
 In the first three years, the Centre will reimburse 100%
of the revenue loss, 75% in the 4th
year and 50% in the
fifth year
PETRO PRODUCTS
 Petro products will be within GST, but “zero-rated” to
begin with
 States and the Centre will continue to collect sales tax /
VAT as is the case now

COMMITTING SUICIDE IS NO MORE A CRIME
The government has decided to repeal Section 309 from the
Indian Penal Code, claiming support of 18 states and 4
Union Territories for decriminalizing attempt to commit
suicide. The step was taken on the recommendation of the
Law Commission of India.
Section 309 of IPC makes the act of suicide punishable with
jail term of up to one year and fine.
‘SUSHASAN EXPRESS’ TO HONOUR VAJPAYEE
To honour former Prime Minister Atal Bihari Vajpayee, a
new train - The Sushaasan (good governance) Express
launched on Dec 25, from Gwalior (Madhya Pradesh), the
birth place of Mr. Vajpayee, to Gonda in Uttar Pradesh.
 Govt has decided to pay 8.75 per cent interest on
provident fund deposits of Employees Provident Fund
Organisation (EPFO) for the year 2014-15.
 Justice G P Mathur committee set up to examine the
possibility of forming a Special Investigation Team for
re investigation of the 1984 anti-Sikh riot cases.
NOVEMBER 2014
NEW SCHEMES ON NATIONAL EDUCATION DAY
National Education Day was observed on Nov 11 on the
125th birth anniversary of Maulana Abul Kalam Azad,
independent India’s first Education Minister. The HRD
Ministry launched new initiatives to promote the education
system of the country.
 Unnat Bharat Abhiyaan launched to enable higher
educational institutions like IITs and NITs to work with
the people of rural India by evolving appropriate
solutions for accelerating sustainable growth.
 ‘Know Your College’ portal launched to enable
students view details of courses, labs, faculty, library,
hostels available etc. of all the colleges, for selecting
the right college for their higher education.
 Skill Assessment Matrix for Vocational
Advancement of Youth (SAMVAY) launched to
facilitate students to switch between education and
jobs. It will help such students to resume studies who
left formal education for a job.
 Two scholarship schemes launched for technical
education, Saksham for specially-abled needy and
meritorious students and Pragati for girls pursuing
technical education at college level.
GOVT TO SET UP 'SWACHH BHARAT KOSH'
The government has launched a fund that will be utilised to
build toilets in schools, rural and urban areas to achieve the
objective of cleanliness across the country. The Kosh will be
set up by the Ministry of Finance and will be managed by a
Governing Council headed by Expenditure Secretary.
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‘MANAS’ LAUNCHED FOR SKILL DEVELOPMENT
Union Ministry of Minorities Affairs launched the Maulana
Azad National Academy for Skills (MANAS) on 125th
birth anniversary of Maulana Abul Kalam Azad to impart
training to youths in health and security sector.
NEW CITIZENSHIP NORMS FOR REFUGEES
Govt has relaxed Indian citizenship norms for Hindu and
Sikh refugees from Pakistan and Afghanistan. Refugees,
who have entered India prior to 31 December 2009, can
now apply for the Indian citizenship.
BSNL LAUNCHES MOBILE SECURITY SERVICES
The BSNL has launched
mobile security value added
service that will allow its
customers to track location
of their lost mobile phones.
Through this application,
the user will also be able to
remotely lock device, erase
data in the lost mobile.
 Govt. launched National Bal Swachhta Mission as
part of ‘Swachh Bharat Mission’ in New Delhi on Nov 15
to improve over all cleanliness amongst school children.
 Udaan programme launched to assist girl students in
preparing them for the IIT-JEE while studying in classes
XI and XII.
 Govt approves "Integrated Power Development
Scheme" for strengthening of sub-transmission and
distribution network of electricity in the urban areas.
 India has launched the tourist visa on arrival facility
enabled by electronic travel authorization for 43
countries for boosting the tourist inflow.
 Govt has decided to lay an exclusive submarine cable
network for Andaman & Nicobar Islands from Chennai
to facilitate high speed internet/browsing in the islands.
 The Central Government has allocated five thousand
crore rupees under AYUSH Mission for promoting
traditional methods of treatment in the country.
 The Delhi Transport Corporation has started a Delhi-
Kathmandu bus service from Nov. 26.
OCTOBER 2014
‘SHRAMEV JAYATE’ KARYAKRAM LAUNCHED
Prime Minister launched Pandit Deendayal Upadhyay
Shramev Jayate Karyakram organised by the labour ministry
on October 16. The project aims at creating a conducive
environment for industrial development and doing business
with ease. The programme has five focus areas as under:
 Every one of the six to seven lakh industrial units in the
country will get a unique Labour Identification
 Number - LIN (Shram Pehchan Sankhya) for
simplifying business regulations and securing
transparency and accountability in labour inspections
 Revamped smart card based Rashtriya Swasthya
Bima Yojana, the government has introduced a smart
card for the workers in the unorganised sector.

 “Shram Suvidha" – a Unified Labour Portal launched
to facilitate "Labour Inspection Scheme," which aims at
ending arbitrariness in the inspection mechanism.
Labour inspectors will now get auto-generated lists
telling them where to go for inspection. It will also
replace current 16 forms with one online form
 Universal Account Number (UAN) for Employees'
Provident Fund members that will be portable
throughout the working careers of members and can be
used anywhere in India.
 Under Apprentice Protsahan Yojana govt will
reimburse 50 per cent of the stipend paid to
apprentices during first two years of their training.
SWACHH BHARAT MISSION LAUNCHED
On October 2, Prime
Minister launched the
country’s biggest-
ever cleanliness drive
from New Delhi by
actually sweeping the
pavements in Valmikli Basti near Mandir Marg. The urban
component of the Mission is proposed to be implemented
over 5 years starting from October 2, 2014 in all 4,041
statutory towns. The total expected cost of the programme
is Rs. 62,009 crore, out of which the proposed central
assistance will be of Rs. 14,623 crore.
Govt has decided to merge the ‘Nirmal Bharat Abhiyan’, a
campaign for rural sanitation with Swachh Bharat Mission.
SANSAD ADARSH GRAM YOJANA
Prime Minister launched Sansad Adarsh Gram Yojana on
11th October, on the occasion of birth anniversary of Jai
Prakash Narayan. Every one of about 800 MPs, including
Prime Minister, is expected to take the responsibility of
developing physical and institutional infrastructure in one
village by 2016 and two more by 2019.
Adarsh Gram aims to ensure 100 per cent access to health,
education, sanitation, schools, toilets, libraries and smart
schools. The selected village should have a population of
3000-5000 in plain areas and 1000-3000 in hilly, tribal and
difficult areas.
SWACHHTA UDYAMI YOJANA
National Safai Karamcharis Finance and Development
Corporation has launched “Swachhta Udyami Yojana -
Swachhta Se Sampannta Ki Aur” to provide financial
assistance to Safai Karamcharis and identified manual
scavengers for construction, operation and maintenance of
community toilets in public private partnership (PPP) mode
and for purchase of sanitation related vehicles.
VARISHTHA PENSION BIMA YOJANA
Govt has reintroduced the Varishtha Pension Bima Yojana- a
single premium pension policy for senior citizens, for a
limited period of one year, from 15-08-2014 to 14-08-2015.
The beneficiaries can avail pension ranging from Rs 500 to
Rs 5,000 per month by depositing a lumpsum amount of Rs.
66,665 to Rs. 6,66,665 respectively.
ONLINE ATTENDANCE FOR GOVT EMPLOYEES
Government has launched an Adhaar based Biometric
Attendance System (BAS) for government employees.
Named attendance.gov.in, it will keep a track on the
attendance records of employees.
UNIVERSAL HEALTH ASSURANCE MISSION
The government plans to roll out its ambitious Universal
Health Assurance Mission (UHAM) by the end of this year,
aimed at bringing all Indians under health insurance cover.
The UHAM will provide 50 essential drugs with a package of
diagnostics and about 30 AYUSH drugs to all citizens at
govt. hospitals and health centres across the country.
NATIONAL AIR QUALITY INDEX
The government has launched a new methodology —
National Air Quality Index (AQI) — to create awareness
about the quality of air and its likely health impact. Using
the “One Number-One Colour-One Description”, the AQI
proposes six categories — good, satisfactory, moderately
polluted, poor, very poor and severe, beginning from green
and ending in dark red, respectively.
DIESEL PRICES DECONTROLLED
Union Cabinet has decided to completely deregulate the
diesel prices and henceforth the price will be linked to the
market. Petrol and diesel are now market linked and the
government does not have to pay subsidy. LPG prices will
be revised on half yearly basis, on April 1 and October 1,
every year.
85% WARNING SPACE ON CIGARETTES PACKS
The government has made it
mandatory for tobacco
companies to carry health
warnings covering at least 85%
of the surface of cigarette
packets, making India the world
leader in implementing plain
packaging of tobacco products
as advocated by the World
Health Organisation.
SUBRAMANIAN COMMITTEE ON GREEN LAWS
The Union Ministry of Environment and Forest has
constituted a four-member committee under chairmanship
of former cabinet secretary T S R Subramanian to review
the laws related to protection of environment including the
Indian Forest Act, 1927 and suggest amendments that could
make them more effective.
FIRST MENTAL HEALTH POLICY LAUNCHED
The Union Health Ministry launched the country’s first ever
Mental Health Policy to provide access to good quality
treatment to mentally ill people with the focus on those
living in poverty.
INDIA’S 1ST OFFSHORE WIND POWER PROJECT
Union Ministry of New and Renewable Energy (MNRE)
signed a Memorandum of Understanding (MoU) on 1st
October 2014 for setting up a Joint Venture Company to
undertake the first-ever Offshore Wind Power Project in
India along Gujarat coast.

 Govt plans to start “Sardar Patel Urban Housing
Mission” to ensure housing for all by 2022 and a ‘slum
free India’.
 Union Government has decided to sell LED bulbs to
households at 10 rupees against the market price of
400 rupees.
 From November, 2014 all replies given under RTI by
ministries will be posted online, available for access to
all and not just to persons seeking the information.
 Central govt has advised all states, union territories and
Central Armed Police Forces to recruit 33 per cent
women in their ranks.
 T.K. Vishwanathan Committee setup to review
Bankruptcy laws.
ECONOMIC INDICATORS
DECEMBER 2014
GDP GROWTH LIKELY TO BE 5.5 %
According to the Mid-year economic analysis tabled in
Parliament by the Finance Ministry, the GDP growth in the
current fiscal is expected to be around 5.5 per cent as
against 4.7 per cent last year on back of improving macro-
economic situation. The review said that speedier
environmental clearances, reforming land and labour laws
will also be critical for the growth of the economy.
GDP GROWTH SLIPS TO 5.3 PER CENT
Data released by the Central Statistics Office on Nov 28
showed that the economy slowed in the quarter ending Sep
30, growing at 5.3 per cent as against 5.7 per cent in the
April-June quarter. Poor manufacturing performance which
nearly came to a grinding halt, growing just 0.1 per cent,
was the main factor for slow growth.
UN REPORT PUTS INDIA’S GROWTH AT 5.4 %
The UN World Economic Situation and Prospects 2015
report says that India is likely to make progress in
implementing economic policy reforms and help in providing
support to business and consumer confidence. India is
estimated to record a 5.4 percent economic growth this year
and may improve to 5.9 per cent next year and to 6.3 per
cent in 2016.
TRADE DEFICIT JUMPS TO $16.8 BILLIN
India's trade deficit widened to an 18-month record in
November to $16.8 billion, after a spike in gold purchases
pushed the imports higher. Imports were up by 26.8 per
cent to $42.8 billion while exports were pegged at $26
billion.
MOODY’S PROJECTS INDIA’S GROWTH @6%
Global rating agency Moody’s has projected that Indian
economy is expected to pick up pace in 2015 and grow in
the range of 5 to 6 per cent, helped by strong domestic
demand. The country, it said, has benefited from a strong
domestic demand base and diversified export markets that
give protection from the effects of a slowing Chinese
economy and muted growth in the Euro zone and Japan.
 Industrial growth contracted by 4.2% in October, the
sharpest decline in at least two years, on poor show by
manufacturing sector
 Growth in the country's eight core industries rose to a
four-month high of 6.3 per cent in October, due to
better output in coal, refinery products, and electricity.
 Foreign exchange reserves in the week to December
19, 2014, surged by a $3.16 billion to $ 319.99 billion
due to massive jump in foreign currency assets.
 The ADB says that India is on track to achieve 5.5%
growth rate in 2014-15 as declining oil prices present a
golden opportunity for many beneficial reforms.
NOVEMBER 2014
NCAER LOWERS GDP GROWTH RATE TO 5 %
Country’s economic think-tank-The National Council of
Applied Economic Research (NCAER) has lowered India's
GDP growth forecast to 5 per cent in 2014-15 on weak
economical fundamentals and uncertainties in growth
prospects. In its earlier projection it had suggested a
growth rate of 5.7 per cent in 2014-15.
OECD PUTS GROWTH RATE @ 5.4%
Paris-based think tank Organisation for Economic Co-
operation and Development, OECD has projected 5.4
percent growth for the Indian economy this year as global
recovery continues at a moderate pace.
INDIA MAY GROW BY 5.6% - FITCH
According to international rating agency Fitch, India's
economic growth is expected to pick up to 5.6 per cent in
the current fiscal on account of structural reforms being
rolled-out by the government.
OCTOBER 2014
INDIA MAY GROW BY 5.6 % - WORLD BANK
A World Bank report says that India’s GDP is likely to
expand by 5.6 per cent this fiscal as reforms gain
momentum. It says that the growth is expected to
accelerate as proposed measures such as GST are likely to
give a boost to manufacturing sector.
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ECONOMY
DECEMBER 2014
RURAL HOMES – LOW ASSETS, HIGH DEBTS
Findings of the
70th round of
National Sample
Survey's All India
Debt and
Investment
Survey show that
households in rural
areas hold assets
worth over Rs 10
lakh on average, less than half the holdings by those in
cities. Further, about 31 per cent of the rural households
and 22 per cent of the urban households reported debt
(cash loan) outstanding as on June 30, 2012. The average
amount of debt (AOD) for a rural household was Rs 32,522
and that for an urban household was Rs 84,625.
FINANCE COMMISSION SUBMITS REPORT
The 14th Finance Commission, headed by former Reserve
Bank of India, RBI governor Y V Reddy, submitted its report
to the President's office on Dec 11. The panel has given its
views on the devolution of tax receipts from the Centre to
the states from 1st April 2015 to 31st March 2020.
WORLD BANK LOAN FOR EDFC
India has inked a US $1100 million IBRD Direct Lending pact
with the World Bank for phase two of the Eastern Dedicated
Freight Corridor (EDFC). EDFC is a 1849 kms long broad
gauge railway freight corridor, starting from Ludhaina in
Punjab to Dankuni near Kolkata in West Bengal.
IFRS TO BE APPLICABLE FROM APRIL 1, 2015
The Ministry of Corporate Affairs has advised that the new
International Financial Reporting Standards (IFRS) shall be
applicable for large companies that can voluntarily start
adopting them in the next fiscal year starting April 1, 2015,
after which the rules will become compulsory.
GOVT GETS 1715 CRORE FROM SAIL
Union government mopped up around 1715 crore rupees
with the sale of 5 percent stake in SAIL at a floor price of 83
rupees per share, increasing the public share to 25 per cent.
As per the Securities Contracts (Regulation) Rules of SEBI,
minimum public shareholding in listed state-owned firms
should be 25 percent and this must be achieved by 21
August 2017.
CREDIT GUARANTEE FUND FOR FACTORING
The Union Cabinet has cleared a proposal for setting up of a
500 crore rupees Credit Guarantee Fund for Factoring for
MSMEs (Micro, Small and Medium Enterprises).
Factoring is a financing arrangement for suppliers by
making pre-payments against invoices. It facilitates
collection of receivables and provides liquidity to MSMEs
 Government has asked PSUs to ensure that they
procure 20% of their requirements from the products
manufactured by MSMEs,, wef April 01, 2015.
 Snapdeal.com has announced the launch of ‘Agri Store’,
offering online products like seeds, fertilizer and
irrigation tools, among others, to farmers.
 World Bank will lend Rs 475 crore ($75 million) to the
Andhra Pradesh Government for implementing a rural
growth project.
 Government has fixed an export target of $340 billion
for the current fiscal. Actual exports last year were
$312.6 billion.
 The Asian Development Bank (ADB) will extend $200
million loan to Punjab to improve the state's fiscal
situation.
 India Germany sign loan pact for euro 625 million for
the Green Energy Corridors project under the Indo-
German bilateral development cooperation.
 The World Bank has approved $130 million credit for
the Nepal Grid Solar and Energy Efficiency Project to
minimize energy shortages in Nepal.
NOVEMBER 2014
KISAN VIKAS PATRA RE-LAUNCHED
The Government re-launched Kisan Vikas Patra scheme on
Nov 18 to encourage the habit of small savings among the
citizens. The KVPs will be available in denominations of Rs.
1000, 5000, 10,000 and 50,000 with no upper limit for
investment and the invested amount will become double in
100 months. KVP investors are exempted from KYC norms.
MSP FOR RABI CROPS FOR 2014-15 SEASON
CROP Rs./Qtl CROP Rs./Qtl
Wheat 1450 Gram 3175
Barley 1150 Rapeseed/ Musturd 3100
Masur dal 3075 Safflower 3050
FDI NORMS RELAXED FOR CONSTRUCTION SECTOR
The Union Government has decided on 29th
October, to
relax FDI norms in the construction sector, allowing 100 per
cent of foreign funds in building projects.
 The minimum floor area requirement has been reduced
to 20,000 sq mts from the earlier 50,000 sq mts.
 The minimum capital requirement has been cut down
to $5 million from earlier $10 million.
BSE MARKET CAP HITS 100 TRILLION MARK
The market capitaliastion of all listed companies on the
Bombay Stock Exchange, Asia's oldest stock exchange, hit a
record Rs 100 trillion (lakh crore) mark on Nov 28.
This is good news for investors because the doubling of
market cap in five years has also led to doubling of
investors' wealth during the period.
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NEW SEBI NORMS ON ‘INSIDER TRAINING’
SEBI has approved new insider trading rules to replace the
two-decade old law seen as inadequate to curb trading
violations. The term “insider” will now include persons
connected on the basis of being in any contractual, fiduciary
or employment relationship that allows such people access
to unpublished price sensitive information (UPSI).
SHELL INDIA WINS 18,000 CRORE TAX CASE
The Bombay High Court quashed the IT department’s Rs
18,000-crore rupees tax order against oil major Shell India.
Shell India had issued 870 million shares to its parent
company Shell Gas BV, Netherlands in March 2009 at Rs 10
per share. However, the Income Tax department contended
that the shares were grossly undervalued and it valued
them at Rs 180 per share. The difference was added to the
income of the company.
BIS MARK FOR 15 ELECTRONIC PRODUCTS
To curb the inflow of sub-standard items in the country, the
government has come out with a notification which lays
down the mandatory standards (BIS marks) for 15
electronic products, including mobile phones, power banks
and LED lamps.
TIEA SIGNED WITH St. KITTS & NEVIS
To help in its efforts to crack down on suspected black
money stashed abroad, India signed Tax Information
Exchange Agreement – TIEA with Saint Kitts & Nevis, a two-
island Carribean country, perceived as a safe haven for
offshore funds.
 Exporters and SEZ units asked to realise and repatriate
overseas sales proceeds in nine months, as against 12-
month earlier, from the date of shipment.
 Suzlon Energy installed the world’s tallest 120 meters
high hybrid wind generator turbine in Asia’s biggest
wind energy park in Kutch, Gujarat.
 India signs a USD 200 million loan agreement with the
World Bank to finance the setting up of technology
centres to help MSMEs enhance their productivity.
 Asian Development Bank (ADB) will provide $350-
million loan assistance for upgradation of district roads
in Madhya Pradesh.
OCTOBER 2014
INDIA TO BECOME $2 TRILLION ECONOMY
According to IMF's latest World Economic Outlook report,
India is poised to become a USD two trillion economy this
year and may cross $ three trillion by 2019. United States
would remain the world's largest economy with a size of
USD 17.42 trillion, followed by China at USD 10.35 trillion.
BIG OIL FIND NEAR AHMADABAD
A significant crude oil discovery has been made in the
Kharenti-A well near Ahmadabad in the Cambay basin by a
private oil company, making it the biggest find this year.
Cambay basin extends from Surat in the south to Sanchor
in the north, covering an area of about 59,000 sq km with a
hydrocarbon resource of more than 15 billion barrels.
INDIA ZOOMS ON E-COMMERCE
According to research firm Gartner, India is emerging as the
fastest-growing e-commerce market in the world with the
revenue expected to reach $6 billion in 2015, a 70%
increase over 2014 revenue of $3.5 billion.
REAL ESTATE GIANT DLF BARRED FOR 3 YEARS
Stock market regulator
Securities and Exchange
Board of India (SEBI) has
barred India's largest real
estate company DLF and
its top officials, including chairman KP Singh, from accessing
or dealing in stock markets for three years. The company
and six of its top officials were found guilty of suppressing
material information in its offer document at the time of its
public issue in 2007.
FUTURE GROUP JOINS HANDS WITH AMAZON
World's largest online retailer Amazon.com and India's
largest listed retailer Future Group, promoters of ‘Big
Bazaar’ retail chain, have signed a deal to jointly sell goods
over the Internet amid growing friction between online and
offline retailers over heavy discounting. Amazon plans to
invest $ 2 billion in India.
 Delhi Metro has been ranked second among 18
international Metro systems in terms of overall
customer satisfaction in an online customer survey.
 Maruti Suzuki launched ‘Ciaz’ - its first sedan car in past
7 years, to meet competition from Honda City and
Hyundai Verna.
 Government has decided to import potatoes for the first
time to augment domestic availability and to check its
rising prices.
 Country’s first olive oil refinery has been started in
Lunkaransar area of Bikaner, Rajasthan. The project
was started by taking assistance from Israel.
 IndiGo, India’s largest domestic airline by market share,
has signed a deal to buy 250 latest Airbus A-320 neo
aircrafts worth $26 billion or Rs 1.55 lakh crore.
 India has imposed anti-dumping duty on Phenol
imported from the U.S. and China’s Taipei to safeguard
the interest of domestic manufacturers.
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BANKING & FINANCE
DECEMBER 2014
CHARTER OF CUSTOMER RIGHTS
The Reserve Bank released a charter of customer rights on
Dec.3 that lays down five basic rights that bank customers
enjoy. This will also simplify the process for common man
as now he can simply flash this charter and demand that
the rights be met.
Here are the rights of customers as notified by the RBI.
 Right to Fair Treatment: No discrimination on basis
of gender, age, religion, caste and physical ability
 Right to Transparency, Fair and Honest
Dealing: Contracts or agreements between financial
service provider and customer should be transparent
and easy to understand
 Right to Suitability: Products offered should be
appropriate to the needs of the customer
 Right to Privacy: Customers' personal information to
be kept confidential. No unwarranted communication,
electronic or otherwise, to be sent
 Right to Grievance Redressal and Compen-
sation: Banks accountable for products offered
(including third party products like insurance, mutual
funds) and to facilitate easy grievance redressal.
RBI DEFINES ‘NON COOPERATIVE BORROWER’
The Reserve Bank of India on Dec 22 issued a new set of
norms defining non-cooperative borrowers (NCB). A NCB is
one “ who does not engage constructively with his lender
by defaulting in timely repayment of dues while having
ability to pay, thwarting lenders' efforts for recovery of their
dues by not providing necessary information sought,
denying access to assets financed or collateral securities,
obstructing sale of securities".
RRB AUTHORISED CAPITAL HIKED TO 2000 CR
A bill to raise the authorised capital of Regional Rural Banks
(RRBs) to Rs 2,000 crore (from Rs 5 crore at present) and
enable them to mop up funds from the capital market was
passed by the Lok Sabha on Dec 22.
However, government participation combined with
sponsoring bank’s share will not be allowed to come below
51 per cent.
PMJDY ACCOUNTS ARE FOR ALL
Government has clarified that persons already having bank
account need not open a fresh one to avail benefits of
the Pradhan Mantri Jan Dhan Yojana (PMJDY). They will have
to apply for a RuPay card in the existing account to get
benefit of accidental insurance and other benefits.
BANKS ALLOWED TO HAVE PUBLIC ISSUE
The Union Cabinet allowed state-run banks to raise equity
capital from the market subject to the condition that
government stake should not fall below 52%. The proposal
is part of the government plan to cut banks' dependence on
the budget for capital.
INTEREST SUBVENTION ON FARM LOANS
Government has approved the continuation of interest
subvention for short-term crop loans up to Rs 3 lakh to
farmers. This means that banks will charge only 7 per cent
per annum. Further, additional interest subvention of 3 per
cent per annum will be given to those farmers who repay on
time that is within one year of disbursement of their short-
term crop loans.
RTGS TIMINGS INCREASED
To promote electronic payments, the Reserve Bank of India
has increased the Real Time Gross Settlement (RTGS)
business hours to 12 hours from 8 am to 8 pm on weekdays
and from 8 am to 3.30 pm on Saturday. The new timings
will come into effect from 29 December, 2014.
SBI LAUNCHES TWO NEW INDICES
The State Bank of India has launched two indices namely
the SBI Monthly Composite Index and the SBI Yearly
Composite Index that will primarily track manufacturing
activity and offer forward-looking economic trends. The
index will help policy makers and market participants to
identify turning points in the manufacturing cycles in
advance and adjust their investment plans or strategy.
NORMS RELAXED FOR PPIs
RBI has doubled the limit for pre-paid payment instruments
(PPI) to Rs 1 lakh from Rs 50,000 at present. Further, the
maximum validity of gift cards has been enhanced from one
year to three years. The move would help in achieving the
objective of limiting cash transactions in the system.
RBI STARTS BHARAT BILL PAYMENT SYSTEM
The Reserve Bank has released the final guidelines for the
Bharat Bill Payment System (BBPS), which will help
consumers pay multiple bills like electricity, telephone and
school fees at a single point of transaction. The National
Payment Corporation of India (NPCI) has been appointed as
the nodal body for the system.
HDFC BANK LAUNCHES MOBILE BANKING
HDFC Bank launched in Varanasi, UP, its mobile banking
initiative - 'Bank Aap Ki Muththi Mein' that works on both
smartphones as well as the basic phones that support
Internet browsing, to offer round-the-clock banking facility.
INDIANS NOT KEEN TO OPERATE ACCOUNTS
According to a nation-wide survey on financial behaviour,
India has the highest account dormancy rate even more
than countries like Kenya, Tanzania, Uganda, Nigeria,
Pakistan and Bangladesh. Only 48 per cent of Indian adults
have bank accounts and nearly half of them lie dormant,
says a report.

 The deadline for exchanging pre-2005 currency notes,
including 500 and 1,000 rupees, has been extended by
six months till June 30, 2015.
 Yes Bank has raised $200 million loan from Asian
Development Bank for onward lending to small farm
households and rural women self help groups (SHGs).
 RBI has imposed penalty of Rs. 5 million and 2.5
million, respectively, on ICICI bank and Bank of Baroda
for violation of KYC norms.
 Money supply rose by Rs 31,400 crore to Rs 101,950
crore ($1.61 trillion) in the fortnight to December 12,
growing by 10.2 per cent on year on year basis.
NOVEMBER 2014
GUIDELINES FOR PAYMENT/ SMALL BANKS
The Reserve Bank on Nov 27 released the guidelines for
‘payment banks’ and ‘small banks’.
Payments banks can receive deposits and remittances,
but cannot lend; focusing on migrant labour and low income
households.
Small banks will lend to “unserved and under-served
sections”, including small business units, small and marginal
farmers, and micro and small industries.
PAYMENTS BANKS SMALL FINANCE BANKS
OBJECTIVE
Provide small savings
accounts and payments /
remittance services to
migrant labour workforce
and low-income households
Financial inclusion and
supply of credit to small
business units and farmers
through high-technology and
low-cost operations
ELIGIBLE PROMOTERS
Individuals or professionals
with necessary experience
and eligibility, existing
NBFCs, corporate banking
correspondents, mobile
companies, supermarket
chains, real estate co-ops
and corporate entities
Resident individuals or
professionals with 10 years
of experience in banking and
finance, companies and
societies owned and
controlled by residents,
existing NBFSc, microfinance
institutions and local area
banks owned and controlled
by residents
SCOPE OF ACTIVITIES
Accept deposits but
customer balance should not
exceed Rs. 1 lakh
Basic services of accepting
deposits and lending
Cannot give loans, Can issue
debit card, not credit cards
No restriction on the area of
operations
Can distribute non-risk
simple financial products
such as mutual funds and
insurance products
At least 50% of its loan
portfolio should constitute
loans and advances of up to
Rs. 25 lakh
NRIs will not be allowed to
open accounts
Capital Requirement and Promoter’s contribution
Minimum paid-up equity capital of Rs. 100 crore / initially
40%; to be gradually brought down to 26% within 12 years
from date of commencement
10 CR ACCOUNTS UNDER PMJDY BY 26-01-15
Govt has revised the target for opening of accounts under
Pradhan Mantri Jan Dhan Yojana, PMJDY, to 10 crore
accounts by 26th January, 2015. The earlier target was
pegged at 7.5 crore accounts.
NEW RULES FOR MINIMUM BALANCE
The Reserve Bank of India has asked banks to inform their
customers about fall in the minimum balance well in
advance, and said that penal charges should be levied only
to the extent of shortfall in such balances by way of a
percentage of the shortfall. The guidelines will come into
effect from April 1st
, 2015.
ING VYSYA MERGES WITH KOTAK MAHINDRA
In an all stock amalgamation, ING Vysya Bank decided to
merge itself with Kotak Mahindra Bank, creating the fourth
largest private sector bank in the country. After the merger,
all Vysya Bank branches and employees will become Kotak
branches and employees.
NEW NOF NORMS FOR NBFCs
RBI has notified new norms for NBFCs that manage funds
worth Rs 500 crore and accept public deposits. The net own
funds – NOF requirements for NBFCs has been raised from
Rs.25 lakh at present to Rs.1 crore by March, 2016, and to
further to Rs.2 crore by 2017.
KERALA & GOA ACHIEVE PMJDY TARGETS
Kerala and Goa have become the first states in the country
to have bank accounts for all households in the state under
Pradhan Mantri Jan Dhan Yojna (PMJDY). Further, the Union
Territories of Chandigarh, Puducherry and Lakshadweep
have also aceived the target.
SMS ALERTS FOR CHEQUE TRANSACTIONS
RBI has made it mandatory for banks to send SMS alerts to
both payer and drawer in cheque transactions as soon as
the cheque is received for clearing. This has been done to
curb the cheque-related fraud cases.
SEBI ALLOWS SHARIA FUNDS
The SEBI has allowed the State Bank of India and three
mutual funds to launch Sharia funds. Sharia-compliant funds
invest in companies that follow Islamic rules.
Charging and receiving interest is considered usury and is
not allowed under Islamic law known as Sharia. India's
stock exchanges have between 600 and 700 companies that
are Sharia-compliant.

RBI BANS FOREIGN FUNDING
Reserve Bank has banned domestic firms from raising
foreign funds above the permitted levels and from
extending guarantees for them to meet domestic funding
needs. Violators will face penal action under the Foreign
Exchange Management Act -FEMA.
BANKS ASKED TO FINANCE JLGs
RBI has asked banks to give liberal loans to landless farmers
to meet the govt’s target of financing five lakh Joint Liability
Groups- JLGs in 2014-15. The banks would also have to
provide regular progress reports to NABARD in this regard.
 The foreign investment promotion board (FIPB) has
allowed HDFC Bank to increase foreign investment in
the bank to 74 per cent.
 Country's oldest and largest foreign bank, Standard
Chartered Bank, opened its 100th branch in Nakatia,
Bareily (UP)
OCTOBER 2014
KYC COMPLIANCE ‘MUST’ FOR ALL ACCOUNTS
The RBI has made it mandatory for all bank customers,
including low risk ones, to be KYC-compliant.
 The accounts which are not KYC compliant, credits
would be allowed but debits won't be allowed
 However, the account-holder will have the option to
close the account and withdraw the money.
 To facilitate compliance of KYC norms, banks have been
asked to allow self-certification of documents and
accept a certified copy of the document
 KYC norms were introduced in 2001, after the 9/11
attacks in New York, America.
TWO MORE TRANSACTIONS FOR METRO ATMs
The Reserve Bank has said that the number of free
transactions in a month at non-home ATMs would remain
three in six identified metros but customers of these centres
can use their card without cost two more times in non-
metro centres.
SBI LAUNCHES ONLINE PASSBOOK APP
State Bank of India has launched a facility called
‘mPassBook’ on its ‘State Bank Anywhere’ mobile
application, for its retail banking users. It is an electronic
application of a physical passbook for savings bank and
current accounts. The facility empowers users to view their
transaction history on their smart phone and maintain an
entire year’s historical data on it.
INSTANT BANK PAYMENTS FOR FB USERS
Kotak Mahindra Bank has launched an instant bank payment
product – KayPay for Facebook users to send money to
each other in an instant. The system will enable over 25
crore Indian bank account holders to transfer funds to each
other instantly by just choosing recipients from their
Facebook friends list.
 Federal Bank has won the IDRBT Banking Technology
Excellence award for 2013-14 in four out of total five
 Categories in the mid-sized lenders segment.
 RBI signs a pact with Central Bank of Kenya for
exchange of information and supervisory cooperation.
DEFENCE, SCIENCE
& TECHNOLOGY
DECEMBER 2014
 DRDO has successfully tested Panchi, wheeled version
of the unmanned aerial vehicle Nishant. It can take off
from and land on small airstrips.
 India tested successfully its nuclear-capable strategic
ballistic missile Agni-IV, with a strike range of 4,000
km, from a test range off the Odisha coast.
 For the first time, India exported a war ship to a foreign
country. The ship is CGS Barracuda offshore patrol
vessel, purchased by Mauritius.
 India has tested a 1,000 kg indigenously-developed
glide bomb, which successfully hit a target 100 kms
away, off the Odisha coast.
 The indigenous nuclear-powered submarine, INS
Arihant, for the first time sailed out for sea-trials on Dec
16, from its base at Visakhapatnam.
 INS Circars, the oldest naval establishment on the
Eastern seaboard in Visakhapatnam celebrated its
Platinum Jubilee on Dec 12.
 Sikorsky of the United States has been selected for
supply of 16 multirole helicopters for the Indian Navy in
a contract worth Rs. 6,000 crore.
 Russia successfully test fired its Angara-A5 rocket
from Plesetsk in northern Russia on 23 December.
 NATO forces formally ended their role in Afghanistan,
after 13 years of conflict that left the country in the grip
of worsening insurgent violence.
GSLV MARK III LAUNCHED SUCCESSFULLY
On Dec 18, Indian Space Research Organisation (ISRO)
launched from Sriharikota its heaviest rocket till date - the
630-tonne three-stage rocket GSLV Mark III which is
capable of carrying satellites weighing up to four tonne. It
carried CARE (Crew module Atmospheric Re-entry
Experiment) as its payload which is an Indian-made
unmanned crew module. This marks the beginning of what
could be India's initiation into the ambitious human space
flight programme.
ISRO LAUNCHES GSAT 16
India’s communication satellite GSAT 16 was launched
successfully from Kourou in French Guiana on Dec. 7. The
satellite was placed in the geostationary orbit of about
36000 kms. It has 48 transponders that will be used for
television, telephone and internet applications.
INDIA PARTY TO WORLDs LARGEST TELESCOPE
India has joined the elite group of countries including United
States, China and Japan to build the largest telescope in the
world. The next-generation 30-meter telescope, which is
being built at Mount Mauna Kea on an island in Hawaii at a
height of 4,050 meter, is expected to give a major boost to
the field of astrophysics and understanding different facets
of the Universe.

STEEP RISE IN CARBON EMISSIONS
Global carbon-
dioxide emissions
from burning of
fossil fuels and
production of
cement reached a
high of 35.3
billion tonnes in
2013. China, the United States and the European Union
remain the top three emitters of carbon dioxide, accounting
for 29, 15 and 11 per cent, respectively, of the world’s total.
KEPLER DISCOVERS ‘SUPER EARTH’
NASA’s planet-hunting spacecraft – Kepler has discovered a
‘super-Earth’ located 180 light-years from Earth - HIP
116454b, which is 2.5 times the diameter of Earth and
follows a close, nine-day orbit around a star that is smaller
and cooler than our Sun, making the planet too hot for life
as we know it.
CURIOSITY DISCOVERS METHANE ON MARS
Nasa's Curiosity rover has detected methane on Mars, a gas
that could hint at past or present life on the planet.
Presence of Methane on the Red Planet is bit strange
because here on Earth, 95 per cent of the gas comes from
microbial organisms.
JAPAN LAUNCHES ASTEROID EXPLORER
On Dec 03, Japan Aerospace Exploration Agency (JAXA)
launched its second-generation asteroid explorer Hayabusa
2 from Tanegashima Space Center. It will explore one of
the C-type asteroids called 1999 JU3 in space, retrieve
materials and bring them to Earth.
NASA LAUNCHES RETURNABLE SPACECRAFT
On December 5, NASA launched Orion spacecraft atop a
Delta IV Heavy rocket from Cape Canaveral for a four-hour
test flight, after which it safely splashed down in to Pacific
Ocean. Orion will serve as the exploration vehicle that will
carry the crew to space, may be as far as Mars, provide
emergency abort capability, sustain the crew during the
space travel, and provide safe re-entry from deep space
return velocities.
WORLD’s MOST ABUNDANT MINERAL FOUND
American geologists have named the earth’s most abundant
mineral as ‘Bridgmanite’. It makes up about 70 percent of
the earth’s lower mantle and 38 percent of the total volume
of the earth. It is made up of high-density magnesium iron
silicate. The lower mantle, which starts at 670 km under
the crust, is difficult to access for samples.
 The International Ocean Discovery Program has
analysed life in the deepest ever marine drilling
expedition- microbes living 2,400 meters beneath the
seabed off Japan.
 International journal Science has declared the European
space mission spacecraft Rosetta as the most important
scientific Breakthrough of the Year 2014.
NOVEMBER 2014
PRITHVI-II/DHANUSH TESTED SUCCESSFULLY
The Strategic Forces Command of the Army test-fired the
Prithvi-II missile on 14th
Nov from the Integrated Test
Range at Chandipur, Odisha. Naval version of this missile –
Dhanush was also tested. Having a range of 350 kms, this
was the first missile developed by the DRDO, inducted in
Indian army in 2003.
ISRAEL TESTS LR-SAM FOR INDIA
The long-range surface-to-air missile (LR-SAM) system with
a range of 70 kms, being developed jointly by DRDO and
Israeli Aerospace Industries (IAI), was tested successfully
for the first time in Israel on 10th
Nov. It is capable of
tracking and destroying incoming hostile aircrafts, drones
and missiles.
ARMY WINS ‘CAMBRIAN PATROL’ IN UK
The Indian Army’s team of eight Garhwalis won the rigorous
endurance competition – Cambrain Patrol held in Wales, UK.
It was forty-eight hours without rest patrol across marshy
lands, swamps and rivers in biting cold, conducted from
October 23-25 where 119 international teams participated.
 DRDO successfully test-fired on Nov 9 its nuclear
capable ballistic missile – Agni-II having a strike range
of 2,000 km and beyond.
 Tejas (PV-6): India’s first indigenous Light Combat
Aircraft’s two-seater trainer jet version made its maiden
flight on Nov 8.
 Indian Air force tested its medium range surface-to-air
anti-aircraft missile Akash with a strike range of 25 km.
 In a freak accident, a Torpedo Recovery Vessel of
Indian Navy sunk off the Visakhapatnam coast during a
naval exercise due to a probable split in its base.
 Mithra Shakthi: Three week Joint military exercise
between Indian and Sri Lankan military forces in Sri
Lanka in Nov 2014
 Hand in Hand 2014: 4th
Joint anti terrorism military
exercise by Indian and Chinese forces held in Pune at
Aundh Military Station from Nov – 17.
FIRST EVER MAN MADE LANDING ON COMET
Rosetta – the spacecraft of European Space Agency secured
a place in history on 12th
Nov when it succeeded in landing
its mechanical device called the Philae probe on a comet
named- 67P / Churyumov-Gerasimenko, some 500 million
kms away from Earth.
Comets hold vital clues about the original materials that
went into building the solar system more than 4.5 billion
years ago. If the mission is successful, it will provide an
opportunity to sample and study a comet directly.

ALTERNATIVE TO ANTIBIOTIC DEVELOPED
Scientists for the first time have developed antibiotic-free
drug named Staphefekt as an alternative to antibiotics to
fight against the antibiotics-resistant superbugs such as
MRSA (Methicillin-resistant Staphylococcus aureus).
 India’s Mars mission Mangalyaan, developed by ISRO,
has been listed among the 25 best innovations of 2014
by the Time magazine.
 A study by the Internet & Mobile Association of India
shows that Mumbai has the largest number -(16.4
million, of internet users in India, followed by Delhi.
OCTOBER 2014
‘NIRBHAY’ TEST FIRED SUCCESSFULLY
India successfully test-fired its nuclear-capable cruise missile
'Nirbhay' from the Integrated Test Range in Chandipur,
Odisha. Developed by the Defence Research and
Development Organisation (DRDO), Nirbhay (fearless in
Hindi) is very manoeuvrable and can fly at tree-top level,
making it difficult to detect on radar, and can strike targets
more than 700 km away.
Unlike other ballistic missiles like the Agni, Nirbhay has a
wing and pronounced tail fins. It launches like a missile and
in early flight the small wings get deployed. It then flies like
an aircraft and can even hover near the target, striking at
will from any direction.
GOVT CLEARS 80,000 CRORE FOR DEFENCE
The Defence Acquisition Council has cleared military
equipment purchase proposals worth Rs 80,000 crore that
include purchase of over 8,000 Israeli anti-tank missiles,
362 infantry carrying vehicles, 12 upgraded Dornier
surveillance aircraft and two midget subs for special
operations. The Council also gave green signal for
construction of six submarines indigenously.
 India and China to set up hotlines between their army
headquarters and establish new border meeting posts to
amicably address incidents of incursions on border.
 China has test fired a new variant of its 10,000 km range
missile - Dongfeng-31B, capable of targeting Europe
and the West Coast of the United States.
IRNSS 1C LAUNCHED SUCCESSFULLY
Scripting another success in
India's space programme, ISRO
launched its third navigation
satellite IRNSS 1C on board its
PSLV-C26 rocket from Sriharikota
on October 16. IRNSS 1C is a
part of the series of seven
satellites that ISRO plans to
launch to put in place the Indian Regional Navigation
Satellite System- IRNSS – our own navigation system on par
with the GPS of the US.
URANUS LIKE PLANET DISCOVERED
Astronomers have spotted a turbulent planet, 25,000
lightyears away, that is four times as massive as Uranus.
The exo-planet is part of a double-star (binary) system
OGLE-2008-BLG-092L, near the constellation Sagittarius.
INTERNATIONAL
DECEMBER 2014
US SIGNS ARMS TRADE TREATY
A treaty laying down international rules for the $85 billion
global arms trade came into force from Dec 24, after being
signed by the USA - world's largest arms producer and
exporter. The treaty aims at cutting off weapons supplies to
human rights violators worldwide.
USA BREAKS ICE WITH CUBA
In a historic decision, USA has announced a series of steps
aimed at normalising relations with communist-ruled Cuba
with which it had severed diplomatic ties decades ago. The
steps being taken include instructions to re-establish the US
Embassy in Cuba’s capital Havana, relaxing of trade & travel
restrictions; review of Cuba as a state sponsor of terrorism.
TALIBAN COMMIT MOST GRUESOME MASSACRE
At least 132 students and nine staff members were killed on
Dec 16 after Tehrik-e-Taliban gunmen broke into a school in
the Pakistani city of Peshawar and opened fire in the
bloodiest massacre the country has seen for years.
END OF ‘OCCUPY CENTRAL’ DEMONSTRATIONS
Hong Kong police forcefully ended the more than two month
old street demonstration - Occupy Central. For over two
months, thousands of protesters had been demanding open
nominations in the next election for chief executive in 2017.
RUSSIA SUFFERS ECONOMIC SET BACK
Russia's economy is in deep trouble. Crippled by sanctions
and stung by slumping oil prices, the nation's currency has
lost half its value against the US dollar since June. Because
of the volatility of the rouble, many foreign businesses are
finding it impossible to operate in Russia.
WEB INDEX PUTS INDIA BEHIND CHINA
India ranks behind China and other BRICS nations in a
comprehensive index aimed at measuring the Internet’s
contribution to social, economic and political progress.
Though China is notorious for its great Internet firewall, the
nation is far ahead of India when it comes to translating the
power of the Internet into economic potential, says the Web
Index released by the World Wide Web Foundation
WORLD ECONOMY SET TO GROW BY 3.1%
According to the World Economic Situation and Prospects
2015 report by UNO, the global economy will grow by more
than 3 percent in 2015 and 2016. However the growth will
be uneven in some regions. The UN is forecasting 3.1
percent economic growth in 2015 and 3.3% growth in 2016.

TIME ‘PERSON OF THE YEAR’–EBOLA FIGHTERS
The countless doctors, nurses and caregivers at the
forefront of battling one of the worst ever outbreaks of the
deadly Ebola virus, have been collectively named as Time
magazine's 2014 'Person of the Year'.
World Health Organisation has said that of over 18000
reported cases of Ebola since December, 2013, nearly 6,400
people have died by Dec 10 with Siera Leone being worst
hit country.
2014 WORST YEAR FOR CHILDREN
The United Nations Children’s Fund (UNICEF) has said that
2014 has been “devastating” for some 15 million children
caught up in violent conflicts around the world in places like
the Central African Republic, Iraq, South Sudan, Syria,
Ukraine and occupied Palestine.
UNFCCC MEET HELD AT LIMA
The world’s nations gathered in Lima, capital of Peru on Dec
1 for the 12-day ‘ Lima Climate Change Conference’ under
the UN Framework Convention on Climate Change
(UNFCCC) to push for a deal to roll back carbon emissions
threatening future generations.
On Dec 14, negotiators adopted a compromise draft for
national pledges to cut global carbon emissions, to be
adopted at December 2015 convention in Paris. The deal —
dubbed the Lima Call for Climate Action — paves the way
for what is envisioned as the historic agreement in
environmental history.
This is the 20th session of the Conference of the Parties and
the 10th session of the Conference of the Parties serving as
the Meeting of the Parties to the Kyoto Protocol
World AIDS Day observed on December 01. The theme
for this year is, 'Focus, Partner, Achieve: An AIDS-free
Generation'.
HIV: Human Immunodeficiency Virus infection
AIDS: Acquired Immunodeficiency Syndrome; (advanced
stage of HIV infection)
 Singapore launched a new National Day song in Tamil
to celebrate its 50 years of independence. Tamil is 4th
official language of Singapore.
 United Nations General Assembly on 5 December 2014
declared 2015 as the International Year of Soils
 Bhutan became 181st
member of Multilateral Invest-
ment Guarantee Agency– a branch of the World Bank
Group.
 An Airbus A320-200 of Air Asia flight QZ8501 with 162
persons aboard disappeared on Dec 28 on way from
Surabaya, Indonesia to Singapore.
 Ukraine has decided to join North Atlantic Treaty
Organisation (NATO), signaling its movement away
from Russia, towards western powers.
 Latvia will hold the Presidency of the Council of the
European Union in the first half of 2015. The
Presidency changes every six months.
 An Italian Ship - Norman Atlantic, carrying 478
passengers caught fire in mid sea, near Italian port
Ancona. Rescue teams could save 471passengers.
 Malaysia’s worst flooding in decades forced some
1,18,000 people to flee to safer places. Kelantan, in north
east Malaysia, was worst-affected area.
 A 444.5-kg British man, believed to be the fattest in the
world, has died from pneumonia following a lengthy
battle with his weight.
NOVEMBER 2014
WTO APPROVES TFA AND INDIA’s STAND
Ending months-long deadlock, the WTO has approved a
trade facilitation agreement (TFA) while agreeing to India's
demand for continuing the peace clause till a permanent
solution is found to the food stockpiling issue, crucial for
continuing food security scheme. The decision was taken at
Geneva meet of WTO's General Council on Nov 27.
WTO also accepted India's demand for extending the peace
clause till a permanent solution is found for its food
stockpiling issue.
Under the peace clause, a WTO member gets immunity
against penalty for breaching the food subsidy cap. As per
the WTO norms, a developing nation can provide food
subsidy of upto 10 percent of the total farm output.
WORLD BANK REPORT ON GLOBAL WARMING
The World Bank on 23 November 2014 released a report on
the impact of global warming titled “Turn Down the Heat:
Confronting the New Climate Normal.” The report focuses
on the specific regional impacts of warming.
WORLD LONGEST TRAIN JOURNEY
An 82-wagon cargo train started on Nov 25 from the
Chinese city of Yiwu for Madrid, Spain on the world’s longest
rail journey, covering 10,000 kms, following the ancient Silk
Route. It will cover five other countries — Russia, Belarus,
Poland, Germany and France — before completing its
mammoth 21-day journey in the Spanish capital.
UN RESOLUTION ON CHILD MARRIAGES
The United Nations has
adopted the first-ever
resolution calling on
governments to stop child
marriages. About 15 million
girls worldwide become child
brides each year and more
than 700 mn women are married before the age–18.
IMMIGRATION REFORMS IN USA
In a landmark decision that could benefit around 2.5 lakh
Indians seeking the Green Card, US President has
announced sweeping immigration reforms that will save
almost five million illegal immigrants from deportation,
particularly those who hold H-1B visa.
OVER $9 BN PLEDGED FOR CLIMATE FUND
Thirty nations meet on 20th
Nov in Berlin has pledged $9.3
billion for a fund to help developing countries cut emissions
and prepare for climate change to avoid global warming.
The South Korea-based Green Climate Fund (GCF) aims to
help developing nations invest in clean energy and green
technology and build up defences against rising seas and
worsening storms, floods and droughts.

UN WORLD TOILET DAY – NOV 19
The United Nations has dedicated November 19th for
promoting World Toilet Day to bring into limelight the plight
of all those people who do not have access to a toilet -
despite this being their basic right. The theme for this year's
UN World Toilet Day is "Equality, Dignity and the Link
Between Gender-Based Violence and Sanitation".
G20 TO ACT ON TAX THEFT /CLIMATE CHANGE
Leaders from the G20 group of nations resolved to boost
flagging global growth, tackle climate change and crack
down on tax avoidance. The group leaders promised to
modernise global tax rules and begin automatic exchange of
tax information by 2018-end. USA committed $3 billion to
the Green Climate Fund. Japan also pledged $1.5 Billion for
the same.
Turkey will host 2015 G20 summit and the 2016 summit will
be hosted by China.
US AGREES TO INDIAN FOOD STOCKING
India has reached an agreement with the United States on
public stockpiling of food in terms of Bali Package, paving
the way for the implementation of a global Trade Facilitation
Agreement that has been stalled for months.
India had asked WTO to amend the norms for calculating
agri subsidies so that the country could continue to procure
foodgrains from farmers at minimum support price and sell
them to poor at cheaper rates without violating the WTO
norms.
CHINA USA AGREE TO CUT EMISSIONS
China and the United States have agreed on a timetable to
limit emission of greenhouse gases — ending a 20-year
discord between them on how to combat climate change.
The U.S. agreed to reduce by 2025 its emission of
greenhouse gases by 26 per cent to 28 per cent below its
2005 level. China agreed to raise the share of non-fossil
fuels to 20 per cent by 2030. The two countries are the
largest producers of CO2 gasses in the world.
IMF DECLARES CHINA AS NO 1 ECONOMY
As per recent reports from IMF, in October 2014, China
overtook the US to become the world’s largest economy in
terms of Purchasing Power Parity (PPP). China’s GDP stood
at $ 17.6 trillion, 16.48 percent of the World GDP, followed
by USA at $ 17.4 trillion. India stood at the third place with
$ 7.3 trillion size.
‘VAPE’ IS THE WORD OF 2014
'Vape' - the act of smoking from an electronic cigarette -
has been chosen by Oxford Dictionaries as its international
word of the year for 2014 after use of the term more than
doubled over the last year.
 Thousands of Greeks took to the streets of Athens to
hold a nationwide strike to protest against the
government’s austerity drive involving job cuts.
 Japan's economy shrank for the second consecutive
quarter, marking a technical recession in the world's
third largest economy.
 Sweden has become the first European Union (EU)
country to officially recognise the State of Palestine.
 WHO released first ever ‘Guidelines for Indoor Air
Quality - Household Fuel Combustion’ to promote use of
clean fuels at household level.
 22nd
Asia-Pacific Economic Cooperation (APEC) Summit
was held in Beijing, China from 9th
November 2014 to
11th
November 2014.
 Czech Republic celebrated the 25th
anniversary of the
launch of the Velvet Revolution that toppled
communism and led to dawn of democracy in 1989.
 General council meeting of WTO held at GENEVA on
27th
November, 2014
 International Buddhist Conference held in Lumbini,
Nepal, Nov 15-16.
OCTOBER 2014
PRO-DEMOCRACY PROTESTS IN HONG KONG
Hong Kong, an otherwise peaceful territory, witnessed
widespread clashes between pro-democracy activists and
counter-protesters (pro-Beijing) who have violently tried to
drive the mainly young, student-led demonstrators from the
occupied streets.
The movement has been named as “occupy central” and
also given the name ‘umbrella revolution’ due to
extensive use of umbrellas by the demonstrators. The
protesters are seeking guarantees that Hong Kong citizens
can freely vote for their leaders in 2017 from an unrestricted
list of candidates, as Beijing promised when Britain handed
over the territory in 1997.
EBOLA CLAIMS OVER 5,000 LIVES
The World Health Organization has advised that by October
25, the number of Ebola cases has exceeded the 10,000
mark, holding with about a 50 percent mortality rate. The
number could be higher since a lack of beds in Ebola
treatment centers means some victims are forced to stay at
home - and those deaths could remain unreported.
NIGERIA CONQUERS ‘EBOLA’
Nigeria was declared free of the deadly Ebola virus on
October 20 by WHO after a determined doctor and
thousands of officials and volunteers helped end an
outbreak still ravaging other parts of West Africa and
threatening the United States and Spain.
UNO TO WORK FOR POVERTY ALLEVIATION
UNO observed the International Day for the Eradication of
Poverty on 17th October. The theme for the day for 2014
was “Leave no one behind: think, decide and act together
against extreme poverty”. UN Secretary-General Ban
Kimoon said that more than 1.2 billion people are living on
less than $1.25 a day and 2.4 billion are living on less than
$2 a day.

BRITAIN EXITS FROM AFGHANISTAN
The United Kingdom finally called it a day to its presence in
Afghanistan when it handed over its last base there in
Helmand province to the Afghan forces, marking an official
end to the 13-year-long combat operations that claimed
over 450 British lives in the war-torn country.
SECURITY COUNCIL GETS 5 NEW MEMBERS
Five countries - Angola, Malaysia, New Zealand, Venezuela
and Spain were elected by the UN General Assembly as
the new non-permanent members of the Security Council
for a two years term beginning from Jan 1, 2015. These five
countries will replace retiring members Argentina, Australia,
Luxembourg, South Korea and Rwanda.
4 INDIANS IN FORTUNE TOP 40 UNDER 40
Four Indians have been named by Fortune in its 2014 list of
the 40 most powerful, influential and important people in
business under the age of 40. The list has been topped by
ridesharing service company Uber’s 38-year-old co- founder
Travis Kalanick and community-driven hospitality company
Airbnb’s 33-year-old CEO Brian Chesky.
The Indians on the list are Economics professor at Harvard
Raj Chetty-16, Micromax co-founder and CEO Rahul
Sharma-21, Snapdeal Co-Founder and CEO Kunal Bahl-25
and Twitter’s General Counsel and the only woman on the
company’s executive team Vijaya Gadde-28.
JAFFNA – COLOMBO RAIL LINK OPENED
A nearly 400-km long Jaffna-Colombo railway line,
reconstructed with Indian assistance in Sri Lanka's former
war zone, was inaugurated on 13th October, 24 years after it
was shut down during the civil war.
CHINA PLANS INTERNATIONAL DEV BANK
China and 20 other countries plan to set up an Asian
infrastructure Bank seen as a counterweight to West backed
international development banks. The group agreed to
establish the Asian Infrastructure Investment Bank in Beijing
with an expected initial capital of 50 billion US dollars.
 25th ASEAN Summit to be held on Nov 12-13 at Nay Pyi
Taw, Myanmar.
 Google closed the social networking site Orkut on 30
September 2014. The site was started in 2004 by Orkut
Buyukkokten, a Google employee.
 Severe typhoon – Vongfong slammed into Japan on
13th Oct. at Makurazaki on Kyushu Island with winds of
up to 180 kmph, causing widespread destruction.
 Strong typhoon Phanfone slammed into Japan on 5th
Oct. with winds of up to 180 kmph lashing the shore,
bringing heavy rain and chaos in areas around Tokyo.
PERSONS IN NEWS
DECEMBER 2014
DR. K. RADHAKRISHNAN: Chairman of the Indian Space
Research Organisation (ISRO) has been selected as one of
the top ten scientists in 2014 chosen by the prestigious
science journal of UK-Nature.
PRIME MINISTER MODI: has been rated as the world’s
top policy maker, according to a new report of Harvard’s
prestigious Kennedy School of Government.
PAWAN CHAMLING: Sikkim Chief Minister, on 12
December 2014 became longest serving Chief Minister of
India as he completed his 20 years in the office. The record
for longest tenure as Chief Minister is held by Jyoti Basu, CM
of West Bengal for 23 years, 4 months.
TASHI MALIK AND NUNGSHI MALIK: The twin sisters
from Dehradun scaled Mount Vinson, Antarctica’s highest
mountain at 4,892 metres to become the world’s first twins
and siblings to climb the highest peaks on the seven
continents.
SARITA DEVI: The International Boxing Association (AIBA)
banned Indian boxer for one year for refusing to accept the
Asian Games bronze medal.
VIVEK MURTHY: The 37 year old Indian origin doctor has
been confirmed as the youngest ever Surgeon General of
the United States
MAHINDA RAJAPAKSA: Sri Lanka President visited India
to offer prayers at the famous hill temple of Lord
Venkateswara in Andhra Pradesh
NOVEMBER 2014
NARENDRA MODI: joined the Forbes list of the world's
most powerful people at 15th rank. The list is topped by
the Russian President Vladimir Putin, followed by Barack
Obama. Reliance Industries Chairman Mukesh Ambani
scored 36th
rank.
ARUNDHATI BHATTACHARYA: The Chairperson of
country's largest bank- SBI, was named as the most-
powerful business woman in India by Fortune Magazine.
She was followed by ICICI Bank's Chanda Kochhar and
Shikha Sharma of Axis Bank.
E. SREEDHARAN: Ministry of Railways has appointed
Father of Delhi Metro – ‘Metroman’ head of the committee
to suggest a "proper system and procedure to ensure
proper accountability and transparency" at General Manager
level and other functionaries level for taking all commercial
decisions.
GEN. DALBIR SINGH SUHAG: Indian Army Chief was
conferred the title of honorary rank of General of Nepal
Army by the Nepalese President Ram Baran Yadav.

FARHAN AKHTAR: Bollywood actor-director became the
first man in the history of “UN Women” to be appointed as
its Goodwill Ambassador for South Asia. He will advocate for
gender equality and women's empowerment.
REUBEN PAUL: An eight-year old Indian-origin child
prodigy was in news as he delivered the keynote address at
the Ground Zero Summit on cyber security held in New
Delhi.
NIKKI HALEY: Governor of South
Caorlina state, USA, the youngest of
current US Governors (42) was in
news as she visited Punjab and
promised South Carolina’s support
to Punjab in setting up aerospace,
pharma, tourism and agro-
processing industries.
MALALA YOUSAFZAI: Pakistani teenage rights activist and
Nobel Peace Prize winner was in news for donating $50,000
to help rebuild UN schools in Gaza that have been damaged
during the recent fight with Israel.
CHUCK HAGEL: U.S. Defense Secretary was in news as he
resigned from his post.
BARACK OBAMA: US President will be the Chief Guest at
India's 2015 Republic Day celebrations. This will be the first
time a US President will attend the function.
VLADIMIR PUTIN: Russian President was in news as he
walked out of the G20 summit in Australia, after he faced
scorn and scepticism from Western leaders over Russia’s
interference in Ukraine.
ROBERT O’NEILL: An ex-Navy SEAL was in news as he
has been unmasked as the man who pumped three shots to
the head of elusive Al-Qaeda chief Osama bin Laden during
a top-secret raid on May 2, 2011 at his hideout in
Abbottabad, Pakistan.
SAIRA BLAIR: Eighteen-year-old
girl from West Virginia University
was in news as she secured a
landslide victory by securing 63
percent votes for a seat in the state
legislature house of West Virginia,
USA, becoming the youngest person
ever to achieve this feat.
OCTOBER 2014
RAGHURAM RAJAN: Reserve Bank of India Governor has
received the Euromoney’s “Central Bank Governor of the
Year Award 2014” in Washington on October 10 for his
excellent performance. Euromoney is a reputed international
financial magazine of UK.
SARITA DEVI: Indian boxer was in news as the
International Boxing Association provisionally suspended her
for protesting against a controversial verdict, at 2014
Incheon Asian Games. She declined to accept the bronze
medal awarded to her as she expected to win the silver.
SHAKTI DEVI: An Indian police inspector has been named
recipient of the prestigious International Female Police
Peacekeeper Award 2014 by the UN's police division for her
"exceptional achievements" in her duty with the UN mission
in Afghanistan, including her efforts towards helping victims
of sexual and gender-based violence.
HARSHIT SAUMITRA: A five-year-old Indian boy has
become the youngest person to reach the Everest Base
Camp (EBC). A class 1 student from New Delhi, Harshit took
10 days to cover the distance of 62km trek. He also climbed
the nearby Kalapathar (5550 m) peak
LEELA SAMSON: Eminent Bharatnatyam dancer and
Chairperson of Central Board of Film Certification (CBFC)
was in news as she resigned from the post of Chairperson of
Sangeet Natak Akademi.
THOMAS KAILATH: Indian-American professor from USA
is one of the nine scientists selected for the prestigious
National Medal of Science, the highest honour for
achievement in the fields of science and engineering in USA.
JOSHUA WONG: He has just completed 18 years but he is
one of the fieriest political activists in Hong Kong. He is the
founder of students organisation “Scholarism” which is
leading the pro democracy youth movement in Hong Kong.
JEFFREY P. BEZOS: The Chief Executive of the world’s
largest e-tailer –Amazon.com, called on Modi and committed
$2 billion investment in the country.
MARK ZUCKERBERG: Founder and CEO of Facebook,
called on the Prime Minister Narendra Modi in New Delhi.
ALAN EUSTACE: A senior Google vice-president (57)
created a new world record for highest free-fall parachute
jump. He went up hanging with a Helium balloon and
jumped in a specially designed space suit from an altitude of
135908 foot (41.4kms) reaching a max speed of 1300 kmph
APPOINTMENTS
DECEMBER 2014
RAGHUBAR DAS (BJP): New Chief Minister of Jharkhand
JYOTSNA SURI: President of the Federation of Indian
Chambers of Commerce & Industry (FICCI).
RAJINDER KHANNA: Chief of Research & Analysis Wing
(R&AW),
PRAKASH MISHRA: Director General of Central Reserve
Police Force (CRPF).
DINESHWAR SHARMA: Director, Intelligence Bureau
ANIL Kr. SINHA: Director, Central Bureau of Investigation
KLAUS IOHANNIS: President of Romania
BEJI CAID ESSEBSI: President of Tunisia
ANEROOD JUGNAUTH: Prime Minister of Mauritius
TABARE VAZQUEZ: President of Uruguay
SHINZO ABE: Re elected as Prime Minister of Japan
ASHTON CARTER: US Defence Secretary

NOVEMBER 2014
LIST OF CABINET MINISTERS AS ON 30.11.2014
Person Name Position
1 NARENDRA MODI
Head of the
Government
Prime Minister, Personnel, Public Grievances
and Pensions; Department of Atomic Energy;
Department of Space; all important policy issues
and all other portfolios not allocated to any
Minister
2 Rajnath Singh Home Affairs
3 Sushma Swaraj External Affairs, Overseas Indian Affairs
4 Arun Jaitley Finance, Corporate Affairs, Information &
Broadcasting
5 Manohar Parrikar Defence
6 Radha Mohan
Singh
Agriculture
7 J.P. Nadda Health and Family Welfare
8 M. Venkaiah Naidu Urban Development, Housing and Urban Poverty
Alleviation, Parliamentary Affairs
9 Nitin Jairam
Gadkari
Road Transport and Highways, Shipping
10 Suresh Prabhu Railways
11 Uma Bharati Water Resources, River Development and Ganga
Rejuvenation
12 Dr. Najma A.
Heptulla
Minority Affairs
13 Chaudhary
Birender Singh
Rural Development, Panchayati Raj, Drinking
Water and Sanitation
14 Ramvilas Paswan Consumer Affairs, Food and Public Distribution
15 Kalraj Mishra Micro, Small and Medium Enterprises
16 Maneka Sanjay
Gandhi
Women and Child Development
17 Ananthkumar Chemicals and Fertilizers
18 Ravi Shankar
Prasad
Communications and Information Technology
19 AG Raju Pusapati Civil Aviation
20 Anant Geete Heavy Industries and Public Enterprises
21 Harsimrat Kaur
Badal
Food Processing Industries
22 Narendra Singh
Tomar
Mines, Steel, Labour and Employment
23 Jual Oram Tribal Affairs
24 Sadananda Gowda Law and Justice
25 Thaawar Chand
Gehlot
Social Justice and Empowerment
26 Smriti Zubin Irani Human Resource Development
27 Dr. Harsh Vardhan Science & Technology / Earth Science
DEEPAK GUPTA: Chairman of Union Public Service
Commission (UPSC)
JUSTICE C K PRASAD: Chairman, Press Council of India
HASMUKH ADHIA: Union Financial Services Secretary
G S SANDHU: Chairman of National Chemical Weapon
Convention.
LAXMIKANT PARSEKAR: Chief Minister, Goa
ANITA KAPUR:Chairperson, Central Board of Direct Taxes.
KLAUS WARREN LOHANNIS: President of Romania, first
non Romanian (German) to become President
OCTOBER 2014
MANOHAR LAL KHATTAR: New Chief Minister of Haryana
DEVENDRA FADNAVIS: New Chief Minister of Maharashtra
ARVIND SUBRAMANIAN: Chief Economic Adviser to the
Union Government. He is the former IMF economist
RAJIV MEHRISHI: Union Finance Secretary
Dr. A SURYA PRAKASH: Chairman, Prasaar Bharati Board
HEMANT CONTRACTOR: Chairman of Pension Fund
Regulatory and Development Authority (PFRDA)
DILMA ROUSSEFF: Re-elected as the President of Brazil,
second term leading her Workers Party
KHALED BAHAH: Prime Minister of Yemen
JENS STOLTENBERG: Secretary-General of NATO
India has been re-elected as member of the 47-nation UN
Human Rights Council (UNHRC) for the period of 2015-17
AWARDS & HONOURS
DECEMBER 2014
THE GOLDEN PEACOCK: Award for the best film at the
45th International Film Festival of India, Goa won by the
Russian film ‘Leviathan’ directed by Andrey Zvyagintsev.
The award carries a cash prize of 40 lakh rupees.
Wong Kar Wai: The Chinese filmmaker was conferred the
lifetime achievement award at IFFI.
Swiss Ambassador's Award: Azim Premji, Chairman of
Wipro for inspirational and socially responsible leadership.
Niryat Shree and Niryat Bandhu Awards for 2010-
11 given at Delhi for outstanding performance in exports.
Canara Bank won the Niryat Bandhu Silver Trophy, Banks
Yash Chopra Memorial Award: Amitabh Bachchan
Miss Universal Peace & Humanity 2014: Ruhi Singh of
India at Beirut, Lebanon.
Miss Intercontinental 2014: Wang Patraporn, from
Thailand at Magdeburg, Germany.
Miss World 2014: Rolene Strauss, from South Africa at
London
Olof Palme Human Rights Prize: Xu Youyu, Chinese
pro-democracy activist. It is an annual prize worth USD
75,000 granted by the Swedish labour movement.
Confucius Peace Prize: Fidel Castro, Former Cuban
leader. It is known as China's version of the Nobel Prize.
Queen’s Gold Medal for Poetry 2014: Noted Pakistan-
born poetess Imtiaz Dharker for her poetry collection ‘Over
the Moon’. This award is given by British Queen.
Turner Prize: Duncan Campbell, film artist from UK for a
video that reflects on African art. It is a popular UK prize
for art work.

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