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GENERAL AWARENESS – AUGUST 2014 2
GENERAL AWARENESS
AUGUST 2014
Year: 2014 Vol. 3, Issue 02
A PUBLICATION OF GYANM EDUCATION &
TRAINING INSTITUTE PVT. LTD.
SCO 13-14-15, 2ND FLOOR, SEC 34-A, CHANDIGARH
CONTENTS
SECTION – A
CURRENT AFFAIRS
April to June 2014
1-19
SECTION – B
BULLET NEWS
Jan 2014 TO March 2014
20-32
SECTION – C
2 SBI CLERK MOCK TEST
CENTRAL SCHEMES
MCQs ON POLITY
33-58
59-61
62-71
SECTION – E
LATEST GK BYTES 72-92
FIGURES TO REMEMBER
REPO RATE 8.00%
REVERSE REPO RATE 7.00%
MARGINAL STANDING
FACILITY RATE
9.00%
STATUTORY LIQUIDITY
RATIO
22.5%
CASH RESERVE RATIO 4.00%
BANK RATE 9.00%
BASE RATE(s)
(of various banks)
9.80% –
10.25 %
INDIA’S RANK IN
Economic Confidence Index 01st
Choice for FDI 4th
Global Peace Index 143rd
Press Freedom Index 2014 78th
Ease of Doing Business (World Bank) 134th
Social Progress Index 102nd
World Press Freedom Index 140th
Environment Performance Index 155th
Index for Nuclear Safety 23rd
Index of Economic Freedom 120th
Rank in Energy Usage 69th
Ease of Doing Business (Forbes) 98th
Corruption Perception Index 94th
World Prosperity Index 106th
Global Hunger Index 2013 63rd
Human Capital Index 78th
Global Gender Gap Index 101st
NATIONAL NEWS
JUNE 2014
PANJAB UNIVERSITY BEST IN INDIA
Panjab University, Chandigarh, is the highest
ranked Indian higher educational institution in
the globally recognized Times Higher
Education’s Asia rankings. Placed 32nd in
Asia’s top 100 institutions, PU has
outperformed IITs on all ranking parameters.
The list is topped by the University of Tokyo
INDIA SIGNS ‘WASHINGTON ACCORD’
Indian students with accredited technical education degrees will now find it easy to
get academic recognition and jobs in 17 major nations across the world, including
the US, the UK, Canada, Australia, Japan, Korea, New Zealand, Singapore, South
Africa, Turkey and Russia as India has become a permanent signatory to the
Washington Accord (WA), a global agreement that covers mutual recognition in
respect of tertiary-level engineering qualifications among the signatory countries.
INDIA HOUSE TO 1.56 LAKH MILLIONAIRES
According to the World Wealth Report 2014, released by Capgemini and RBC Wealth
Management, there were 1,56,000 high net worth individuals in India in 2013, up
from 1,53,000 in 2012. India has been ranked 16th in the list of countries with
highest number of HNWI population, the US topping the chart with 40,06,000
millionaires, followed by Japan (23,27,000).
U N AWARD FOR ‘MOBILE SEVA’
'Mobile Seva', an initiative conceptualised by Indian
government’s Department of Electronics and Information
Technology for delivery of public services electronically
through the mobile platform has been awarded a United
Nations Public Service Award.
INDIA NO 1 IN ECONOMIC CONFIDENCE
In a 25 nation-list compiled by global research firm Ipsos, India has been placed at
number one rank in terms of economic confidence of citizens. As many as 60 per
cent Indians surveyed have predicted that domestic economy would be stronger in
the next six months, making it the most confident nation.
INDIA 4th
CHOICE OF MNCs FOR INVESTMENT
Unctad's annual World Investment Report 2014 shows that China remained the first
choice of MNCs, followed by the US. But, Indonesia has overtaken India as the third
most preferred destination for 2014-16. A series of policy flip-flops and harsh tax
measures commonly referred to as "tax terrorism", have dented India's image.
AIR INDIA JOINS STAR ALLIANCE
National carrier Air India has joined Star Alliance - a group of 26 (now 27) carriers
with as many as 4,338 aircraft flying to 1,328 destinations across 195 countries. It is
an agreement between member airlines to use each other’s existing routes and
facilities. For an Air India passenger it means simpler transit through single booking
across multiple airlines to places where the national carrier does not operate.

PROJECT ‘MAUSAM’ FOR INDIAN OCEAN
Union Ministry of Culture has launched the Project Mausam
at the 38th session of the World Heritage Committee held in
Doha, Qatar. The Project aims to explore the diversity of
cultural, commercial and religious interactions in the Indian
Ocean region.
P M VISITS BHUTAN ON FIRST FOREIGN TRIP
Prime Minister Mr. Modi made his first overseas trip by
visiting Bhutan. He inaugurated the new Supreme Court
building at Thimpu, constructed with Indian assistance. He
also laid the foundation for a 600 megawatt hydroelectric
power station as part of an energy cooperation plan.
ANSARI VISITS CHINA
Vice-President Hamid Ansari
visited China to meet
President Xi Jinping and Vice-
President Li Yuanchao. He
unveiled the first jointly
compiled two - volume
encyclopaedia, chronicling a
2,000-year history of cultural
exchanges between India
and China.
TELANGANA, THE 29th
STATE OF INDIA
June 2, 2014 witnessed the birth of 29th
state of India –
Telangana. Formed by carving out 10 districts of erstwhile
Andhra Pradesh, the new state will have an area of 1.14
lakh sq kms and a population of over 3.5 crore. Telugu and
Urdu are the main languages in the region. City of
Hyderabad will continue to remain the joint capital of both –
Telangana and Andhra Pradesh for next ten years.
Telangana Rashtra Samiti President K. Chandrasekhar Rao
(KCR) is the new Chief Minister of the state.
INDIA 143RD
IN TERMS OF PEACE
Global Peace Index (GPI) 2014 released by the Institute for
Economics and Peace released in London has placed India
at 143rd
place in list of 162 countries. Syria is the least
peaceful nation while Iceland is the most peaceful country
in the world.
 External Affairs Minister Sushma Swaraj visited Dhaka,
capital of Bangladesh on her first solo overseas visit.
 The Narmada Control Authority gave its nod to Gujarat
for raising the height of the Narmada dam to a level of
138.72 metres from the present 121.92 metres.
MAY 2014
INDIA 2nd
BEST IN CONSUMER CONFIDENCE
As per the Nielsen global survey, Consumer confidence level
in India jumped to 121points in the first quarter of the
current fiscal, the highest optimism level since the fourth
quarter of 2012. India retains its position as the second
most-optimistic country in the survey. Indonesia leads the
global index with 124 points and the Philippines is in third
place with 116 points.
INDIA 3rd
IN GDP SIZE
Data released by the international comparison programme
of the World Bank group shows that in a matter of six years,
India has emerged as the world's third largest economy (in
terms of PPP) in 2011, from being the 10th largest in 2005,
moving ahead of Japan, while the US remained the largest
economy closely followed by China. The world produced
goods and services worth over $90 trillion in 2011 and
almost half of this came from low and middle-income
countries.
INDIAN CULTURAL FESTIVAL IN CHINA
India started its biggest year-long
cultural festival, “Glimpses of India”
in China with a performance of
classical Indian dances in Shanghai
by artists from Chennai-based
Kalakshetra cultural academy.
INDIA 134TH
IN ‘EASE OF DOING BUSINESS’
World Bank and International Finance Corporation have
released their annual report for “Doing Business” as per
which India ranks 134th
among 189 nations when it comes
to ease of doing business. Singapore ranked first in the list.
INDIAN EVMs TO BE USED IN NAMIBIA
Namibia has imported 3400 India-made Electronic Voting
Machines (EVMs) for use in their Presidential Election.
Namibia is the first African country to use such machines in
any of its Polls. These EVMs are manufactured by the public
sector unit, Bharat Electronic Limited (BEL) based in
Bangaluru.
‘TITLI’ SCREENED AT CANNES
Indian film Titli (butterfly), directed
by Kanu Behl and produced by Aditya
Chopra was screened at Cannes Film
Festival at Cannes, France. The film
is about the journey of a boy called
‘Titli’ who wants to escape from his
oppressive brother.
INDIA 78TH
IN PRESS FREEDOM
Latest Press Freedom Index 2014 has placed India at 78th
place on the basis of freedom of media in the country.
Press freedom in India has deteriorated due to increased
"interference" by media owners ahead of the general
elections this year. Netherlands, Norway,
and Sweden topped the list, which included 197 countries.

W B AID FOR SARVA SHIKSHA ABHIYAN – III
World Bank has agreed to provide $ 1billion assistance to
India to support its Sarva Shikhsa Abhiyan – III, the largest
school education programme in the world. Funds will be
deployed by the HRD Ministry over a period of three years.
S C BANS BULLS USE IN ‘JALLIKATTU’
The Supreme Court has prohibited use of bulls in Tamil
Nadu’s ‘Jallikattu’ festivals, holding that use of bulls in such
events severely harmed the animals and constituted an
offence under the Prevention of Cruelty to the Animals Act.
HIGHEST INFANT MORTALITY IN INDIA
More than seven lakh newborns die in India every year, the
highest number of such deaths globally, a new study has
claimed. Each year 5.5 million babies leave the world
without celebrating their first birth day.
SC NOD FOR PROBING SENIOR BUREAUCRATS
A three judge Supreme Court bench headed by the Chief
Justice of India has held as invalid the legal provision that
makes prior sanction mandatory for the Central Bureau of
Investigation to conduct a probe against senior bureaucrats
(joint secretary and above) in corruption cases under the
Prevention of Corruption Act as it violates the article 14
(equality before law) of the constitution.
INDIA TOPS IN ‘OPEN DEFECATION’
A UN report- ‘Progress on Drinking Water and Sanitation,
2014 says that 82 per cent of the one billion people
practising open defecation in the world live in just 10
countries, topped by India having sixty per cent (597
million) of this population.
DELHI MOST POLLUTED CITY
WHO has stated that the quality of air in most cities
worldwide failed to meet the WHO standards for safe levels
of pollution. The release counted Delhi among one of the
most polluted city in the world in terms of air quality as it
has highest concentration of particulate matters less than
2.5 microns, which is considered most serious.
APRIL 2014
KEJRIWAL, MODI IN TIME TOP 100
The Time has named the 100 most influential people in the
world without ranking them and four Indians have made it
to the list. The four are - Aam Aadmi Party leader Arvind
Kejriwal (highest score), followed by BJP leader Narendra
Modi, noted author Arundhati Roy and Coimbatore-based
health activist Arunachalam Muruganantham.
‘AADHAAR’ NOT MANDATORY – S C
The Supreme Court has directed the Centre to immediately
withdraw the instructions, if any, issued by it for making
Aadhaar card mandatory for citizens to avail government
services. The Court also said that biometric or any other
data should not be shared with any authorities unless the
accused gives consent in writing.
INDIA RANKS 83RD
IN USE OF ICT
A World Economic Forum report
says that India has slid down to
83rd spot among 148 economies in
terms of leveraging information
and communications technologies
for growth and well being. In
2013, it ranked 68th out of 144
countries.
SMALL STATES TOP IN POLICY EFFECTIVENESS
The India Public Policy Report 2014, brought out by Jindal
School of Government and Public Policy at the Sonepat-
based O.P. Jindal Global University, in association with the
Oxford University Press, has ranked India’s smallest states
— Sikkim, Mizoram, Goa, Punjab and Delhi — best in policy
effectiveness, while Gujarat has slipped over the decades to
the 16th place and Kerala comes in at 21st slot.
INDIA RANKS 102ND
IN SOCIAL PROGRESS
The Social Progress Index 2014 compiled by US-based non-
profit group Social Progress Imperative ranks India102nd
among the 132 countries. The index aims to measure
quality of life using measures of access to basic human
needs such as food and shelter and of equality of
opportunity such as education and personal freedom.
INDIA BHUTAN FOR JOINT HYDROPOWER
India and Bhutan have signed an agreement on
development of four hydropower projects for producing
2120 MW on a joint venture-model between public sector
undertakings of the two countries.
EUNUCHS RECOGNIZED AS ‘THIRD’ GENDER
In a landmark judgement, the Supreme Court has
recognised transgenders or eunuchs as third category of
gender and directed Centre and states to take steps to treat
them as socially and educationally backward classes and
extend reservation for admission in educational institutions
and for public appointments. The Court clarified that its
verdict pertains only to eunuchs and not other sections of
society like gay, lesbian and bisexuals who are also
considered under the umbrella term 'transgender'.

NEWS FROM STATES
JUNE 2014
U K AWARD FOR BENGAL’s GIRL SCHEME
Kanyashree Prakalpa, a West Bengal government scheme
that provides scholarship to girls from economically-
backward backgrounds, has been given international
recognition jointly by the United Kingdom’s Department for
International Development and UNICEF.
‘GAURAVI’ TO HELP WOMEN IN STRESS
India’s first One Stop Crisis Centre (OSCC) named Gauravi
was launched in Bhopal, Madhya Pradesh on 16 June 2014.
It was launched by the Bollywood actor Amir Khan. The
centre is first of its kind in India for women who are victims
of violence. It will provide help and assistance to rape
survivors and victims of dowry harassment, domestic
violence and other atrocities on women, all under one roof.
MUMBAI BECOMES 4TH
CITY TO GET METRO
Mumbai became the fourth city in the country to have Metro
rail operations, besides Kolkata, Delhi and Bangalore. The
11.4 km Versova-Andheri-Ghatkopar section, connecting
western suburbs with eastern suburbs, will carry around 11
lakh passengers every day.
$100 MN WORLD BANK LOAN FOR HIMACHAL
World Bank will provide $ 100 million to Himachal Pradesh
for promoting development of sustainable hydropower,
adapt and mitigate the effects of climate change and
empower local communities to conserve their watersheds.
SIKKIM TO GIVE JOBS TO BPL CANDIDATES
Sikkim government has announced 12 per cent reservation
in all state government jobs and posts in public sector
undertakings for candidates of Sikkimese origin living below
poverty line, with immediate effect.
 Gujarat has become the first state in India to
implement 33 per cent reservation for women in the
police force, across all cadres.
MAY 2014
VIDHAN SABHA ELECTIONS IN 5 STATES
Along with the general elections, five states also elected
their new MLAs (member of legislative assembly). Following
were elected as the new Chief Ministers:
Naveen Patnaik (Biju Janata Dal) – Odisha, 4th
time
Pawan Chamling (Sikkim Democratic Fund) – Sikkim, 5th
time, becoming the longest serving C M in India.
Chandrababu Naidu (Telugu Desam Party)—Andhra
Pradesh
K Chandrasekhara Rao (Telangana Rastra Samithi) –
Telangana
Nabam Tuki (Congress) -- Arunachal Pradesh
Some other Chief Ministers were also changed:
Anandiben Patel (BJP): Elected as Chief Minister of
Gujarat in place of Narendra Modi.
Jitan Ram Manjhi became new Chief Minister of Bihar as
present CM Nitish Kumar resigned owing the responsibility
for poor performance of his party in general elections.
T R Zeliang (Naga People's Front): Elected as the new
Chief Minister of Nagaland following the resignation of
current C M Neiphiu Rio as he got elected as M P.
 A four-year ban which barred short messaging service
(SMS) on prepaid mobile phones in Jammu and Kashmir
has been lifted by the state government.
 Rajasthan has decided to open 325 Ma Bari centres in
tribal areas of the four districts to provide education to
the children of 6 to 12 age where there are no schools.
APRIL 2014
ARUNACHAL GETS CONNECTED BY RAIL
The Arunachal Pradesh was put on the country’s railway
map on April 7 with the first passenger train of about 400
commuters arriving at Naharlagun, near state capital
Itanagar, starting from Dekargaon, Assam.
MAHARASHTRA TOPS IN INVESTMENT
According to an Assocham report, Maharashtra has emerged
as the number one investment destination in the country
replacing Gujarat, attracting cumulative investment
proposals of Rs 14,73,466 crore as on December 2013,
while Gujarat drew proposals worth Rs. 13,98,347 crore
only.
Asia’s largest Tulip garden - Indira Gandhi Memorial
Tulip garden is located on the banks of Dal Lake, Srinagar,
J&K. Spread on 15-hectares, it has over 1.5 million tulips.
India’s first double-decker flyover opened in Mumbai
on 18th
April connecting the eastern suburbs with western
suburb via the Santa Cruz-Chembur link road.

GOVERNMENT
INITIATIVES
JUNE 2014
NO TRANSFERS FOR PARENTS OF DISABLED
Central government has decided that all the government
employees who have differently abled children to take care
of will be exempted from routine transfers and they will not
be asked to take voluntary retirement on refusing such
postings.
GOMs AND EGOMs SCRAPPED
With a view to improve accountability and responsibility,
govt has decided to abolish, with immediate effect, all the
Groups of Ministers (GoMs) and Empowered Groups of
Ministers (EGoMs) set up by the previous UPA-II govt.
FOOD BUDGET RAISED FOR POWER SPORTS
Govt has decided to increase the daily food supplement
budget from Rs 280 to Rs 750 for the power games which
include boxing, wrestling, weightlifting, judo and boxing.
The decision was taken keeping in mind the Commonwealth
Games & Asian Games this year and Rio Olympics in 2016.
12000 LABOUR CHARGES TO POOR FOR HOUSE
The Centre has decided to give Rs 12,000 per household as
labour charges to the poor for building their homes under
Indira Awaas Yojna-IAY. Govt. provides Rs. 75,000 for
construction of a house under IAY in hilly areas and Rs
70,000 in plains, of which 20% is the labour component.
MAY 2014
SIT FOR PROBING BLACK MONEY
The Supreme Court has reconstituted a Special Investigation
Team (SIT) under the chairmanship of retired judge MB
Shah to monitor the probe into the black money cases, both
inside and outside the country. Incidentally, this is also the
first major decision taken by the new Union Cabinet.
SECURITY PACT SIGNED WITH MYANMAR
India and Myanmar have inked a pact to enhance security
cooperation in combating the key issues of insurgency, arms
smuggling and human trafficking. The agreement was
signed at Nay Pyi Taw, capital of Myanmar.
 In a move that signals changed priorities, the ministry
of environment and forests has been renamed as the
Ministry of Environment, Forest and Climate Change.
APRIL 2014
FREE SALE OF 5KG LPG CYLINDERS
Indian Oil Corporation has introduced the sale of market-
priced 5-kg Free Trade LPG (FTL) cylinders through kirana
stores and supermarkets for the first time in India. To begin
with, these have been launched in Bangalore, Chennai,
Gorakhpur, Lucknow and Aligarh.
ECONOMIC INDICATORS
JUNE 2014
GDP GROWS @ 4.7% IN 2013-14
Latest data released by the Central Statistical Office (CSO)
has estimated value of India’s GDP at current market prices
at Rs. 113.55 lakh crore, achieving a growth rate of 4.7
percent in 2013-14 as against 4.5 percent achieved in 2012-
13. This is the first time in 26 years after 1987-88 that GDP
has grown at sub 5% in two successive years. The per
capita income at current prices during 2013-14 is estimated
to have attained a level of Rs.74,380.
RBI PUTS GROWTH RATE AT 5-6 PER CENT
In its Second Bi-Monthly Monetary Policy Statement, the
Reserve Bank has stated that economic growth is expected
to be between 5 and 6 per cent in 2014-15 even as
uncertainty over the monsoon clouds the forecast for
agriculture. India's economic growth stayed below 5 per
cent for the second year in a row at 4.7 per cent in 2013-
14, mainly due to a decline in manufacturing and mining
output.
INDIA TO GROW @ 5.5% - WORLD BANK
The World Bank has projected a 5.5% growth for India in
2014-15, estimating that this will accelerate to 6.3% in
2015-16 and 6.6% in 2016-17.
IIP TURNS POSITIVE BY 3.4%
Raising hopes of
turnaround, Index of
Industrial Production
(IIP) in April moved
up by 3.4 per cent,
after contracting in
previous two months.
The recovery came
around especially in
output of manu-
facturing, mining and electricity production and capital
goods.
CORE SECTOR GROWS BY 4.2%
Helped by healthy growth in electricity, fertilizers, cement
and coal, the output of eight core industries increased 4.2
per cent in April, up from 2.5 per cent in the previous
month. The growth in April, 2013, was 3.7 per cent.

EXPORTS JUMP BY 12.4% TO $28 BN
Buoyed by an improvement
in major markets such as
the US and Europe, exports
grew by 12.4% to $ 28
billion in May, the fastest
growth in the past six
months. Imports dipped by
11.4% at $39.23 billion,
giving a trade deficit of $
11.23 billion.
MAY 2014
UN PUTS INDIA’S GROWTH AT 5%
According to the UN World Economic Situation and
Prospects (WESP) 2014 report, Indian economy will grow 5
per cent in 2014 and record a slightly higher expansion of
5.5 per cent next year riding on stronger consumption and
investment.
ECONOMY TO GROW BY 4.9% - OECD
Latest economic outlook by the Paris-based think-tank-
Organisation for Economic Cooperation and Development
(OECD) says that India's economy is expected to grow up to
4.9% in calendar year 2014 from 4.5% a year earlier,
helped by a rebound in capital investments as well as a
pick-up in private consumption, but rising bad loans at its
banks threaten to choke the recovery.
APRIL 2014
LOW GROWTH DUE TO INTERNAL FACTORS
World Economic Outlook report by the International
Monetary Fund has attributed India's declining economic
growth, which has touched a decade's low of 4.5 per cent in
2012-13, to mainly internal factors. India's economic
growth, which touched 8.9 per cent in 2010-11 declined to
6.7 per cent in the following year and touched a decade's
low of 4.5 per cent in 2012-13.
GDP GROWTH MAY IMPROVE - IMF
According to the
International Monetary
Fund (IMF), growth of
India’s GDP could recover
to 5.4 per cent in the
current fiscal year (2014-
15) from 4.4 per cent
expected in 2013-14. It
may further increase by
one percentage point to 6.4 per cent in the year 2015-16
due to stronger global growth, an improvement in export
competitiveness and implementation of the recently-
approved investment projects.
ADB PUTS GROWTH RATE AT 5.5%
The Asian Development Bank has cut India's growth
projection for 2014-15 to 5.5% against 5.7% estimated
earlier, on account of weaker than expected industrial
growth. The Bank pointed out that government needed to
clear projects quickly and boost manufacturing, besides
carrying out structural reforms.
ECONOMY
JUNE 2014
SOLO EVENTS NOT PART OF CSR
The Corporate Affairs Ministry has clarified that one-off
events such as marathons / awards / charitable contribution
/advertisement / sponsorships of TV programmes etc would
not be qualified as part of Corporate Social Responsibility
(CSR) expenditure. Activities like housing for Economically
Weaker Sections, slum clearance, disaster management,
rural development, road safety, skill development of
agriculture labour can be considered under the CSR.
CSR rules are applicable to companies having at least Rs 5
crore net profit, or Rs 1,000 crore turnover or Rs 500 crore
net worth. As per CSR rules, such companies are required
to shell out at least two per cent of their three-year annual
average net profit towards CSR activities.
BAN ON MILK PRODUCTS FROM CHINA
The government has extended the ban on imports of milk
and its products from China for one more year till June
2015. The ban was first imposed in September 2008 due to
presence of melamine in milk products, a chemical used for
making plastics and fertilisers.
F I OF 10% TO BE TREATED AS FDI
Foreign investment of 10 per cent or more in a listed
company will now be treated as foreign direct investment
(FDI) as the government has accepted the Finance
Secretary Arvind Mayaram committee’s recommendations on
rationalising definitions of FDI and FII.
NEW SEBI NORMS FOR DEBT SECURITIES
SEBI has issued new norms for public issuance of debt
securities (debentures, bonds etc.) under which such offers
will have to be of minimum Rs 100 crore and the companies
will have to attain at least 75 per cent subscription.
ISRAEL TO HELP IN AGRICULTURE
Israel is planning to
open two centres of
excellence at Nalanda
and Vaishali in Bihar in
the field of vegetables
and mango respectively
to help cultivators
increase their produc-
tivity. In these centres,
Israeli agricultural
experts along with local farm scientists would impart
knowhow of the latest technology to growers to help them
raise the production level.
PSUs TO HAVE 25% PUBLIC HOLDING
SEBI has said that public sector undertakings listed on stock
exchanges to have should also adhere to the mandatory
25% public shareholding norms that are applicable to
private companies. At present, private sector companies
are compulsorily required to have at least 25% public
shareholding, while for government-owned companies,
minimum threshold level is only 10%.

 India has overtaken Germany and Italy to emerge as
the world's second largest textile exporter. But it lags
China, whose exports are nearly seven times higher.
 The World Bank has approved funding of USD 107
million (nearly Rs 650 crore) for a road project in
Mizoram, connecting Myanmar and Bangladesh.
MAY 2014
AGRI PRODUCTION TO CROSS 264 MN TON
The 3rd Advance Estimates of crop production in the 2013-
14 crop year (July-June) released by the Agriculture
Ministry says that India is likely to produce 264.38 million
tonnes of foodgrains during 2013-14 compared to 257.13
million tonnes last year, supported by higher production of
wheat and rice. The Agriculture Ministry comes out with
four estimates on foodgrains production at different stages
of crop harvesting.
INDIA IS CHEAPEST MAJOR ECONOMY
A report from German banking giant - Deutsche Bank says
that a weaker Indian rupee has allowed India to remain the
cheapest major economy in the world despite persistently
suffering the highest inflation rate. Australia is overall the
most expensive major economy, while the United States is
the cheapest developed country and Brazil most expensive
developing country.
TELECOM BASE TOUCHES 933 MILLIONS
India’s telecom industry added over one million users in
March, taking the total number of subscribers to 933 million,
as per latest data released by Telecom Regulatory Authority
of India (Trai). Rural India is growing faster claiming 377.73
million subscribers.
 Exim Bank has extended $ 100 million in line of credit
to Nigeria for building energy projects that will
eventually help boost Indian exports.
 FDI inflows from Singapore added up to nearly $6
billion in 2013-14, making it largest source of FDI in
India, followed by Mauritius at $4.9 billion.
APRIL 2014
INDIA TOPS IN INWARD REMITANCES
As per a World Bank report, India ranked first in receiving
global remittances in the year 2013 with a whopping $70
billion in its kitty, of which $65 billion were earned from the
country's flagship software services exports.
STEEL EXPORTS EXCEED IMPORTS
India became net steel exporter in 2013-14 after a gap of
six years and is likely to maintain the momentum in 2014-
15. Total steel exports by India during the last fiscal stood
at 5.59 million tonnes (MT), as against imports of 5.44 MT.
India is the world's fourth largest steel maker.
JICA TO FUND FOREST PROJECT IN U’KHAND
The Japan International Cooperation Agency (JICA) has
approved a loan of about Rs 674 crore for a forest project in
Uttarakhand. The project will support implementation of
disaster reconstruction and prevention measures in the
forest area of Uttarakhand where heavy rains caused
devastating floods and landslides in June 2013.
MORE WOMEN DIRECTORS IN COMPANIES
Under the rules notified by the
Corporate Affairs Ministry, every
listed company and those public
firms having paid up share
capital of Rs 100 crore or more
should have at least one woman
director on their board. It will be
also applicable to entities with a
minimum turnover of Rs 300 cr.
SC ALLOWS IRON ORE MINING IN GOA
The Supreme Court has allowed mining of iron ore in Goa
after a gap of nearly one-and-a-half year when it was
banned. However, the court has fixed an annual cap of 20
million tonnes of iron ore that can be extracted in Goa.
SUN PHARMA BUYS OUT RANBAXY
In the biggest deal in two years, Sun Pharmaceutical
Industries announced to fully acquire rival Ranbaxy
Laboratories in an all-stock transaction valued at USD 3.2
billion to become the largest pharmaceutical company in
India, with estimated combined revenue of USD 4.2 billion,
and 5th
largest speciality Generics Company in the world.
CADBURY COMPANY CHANGES ITS NAME
Cadbury India has changed its name to Mondelez India
Foods Limited to fall in line with its parent company -
Mondelez International. The change in name will have no
impact on the names or packaging of its products such as
Dairy Milk, 5 Star, Gems, Perk, Bournvita, Tang and Oreo.

BANKING & FINANCE
JUNE 2014
RBI CUTS SLR DOWN TO 22.5 %
RBI in its second bimonthly
policy statement reduced
statutory liquidity ratio (SLR)
to 22.5% from 23%, freeing
almost Rs 40,000 crore of
resources. Interest rates on
home and auto loans are
unlikely to fall soon, but they
could gradually ease as the
banks may lend more to
companies and individuals rather than buy government
securities.
SLR is the mandatory provision for banks to block a certain
prescribed percent of their total deposits in government
securities.
INTEREST ON ‘UNCLAIMED’ DEPOSITS
RBI has advised that Interest on unclaimed deposits
transferred to a newly set up fund for educating depositors
shall be payable only from the date of their transfer to the
fund. Banks will transfer the accounts to the fund after
applying up-to-date accrued interest.
PROOF OF LOCAL ADDRESS NOT REQUIRED
RBI has advised that for opening of bank accounts, in case
the proof of address furnished by the customer is not the
local address or address where the customer is currently
residing, the bank may take a declaration of the local
address on which all correspondence will be made by the
bank with the customer. No proof is required for this local
address.
ECR REDUCED TO 32 PER CENT
The Reserve Bank has reduced the availability of funds
under the export credit refinance (ECR) window from 50 per
cent of export credit outstanding to 32 per cent with
immediate effect. To compensate for the resulting reduction
in liquidity, RBI has introduced a special term repo facility
up to 0.25 per cent of their net demand and time liabilities-
NDTL (total deposits).
RBI ALLOWS ENGAGING NBFCs AS BC
The Reserve Bank has permitted non-banking finance
companies -NBFCs to act as business correspondents (BCs)
of banks, allowing them to offer limited services with the
aim of spreading financial inclusion. The RBI said the
existing guidelines on the appointment of BCs were
reviewed taking into account recommendations of the
Nachiket Mor Committee.
LIMIT RAISED TO CARRY CURRENCY ABROAD
The Reserve Bank has permitted residents and non-
residents, except Pakistanis and Bangladeshis, to carry up to
Rs 25,000 in Indian currency notes while leaving the
country as against Rs 10,000 earlier. Till now, foreigners
were not allowed to carry Indian currency while leaving the
country.
BANK BUSINESS GROWS BY OVER 13 %
Bank deposits grew at 13.91 per cent year-on-year to Rs
79,00,894 crore as of June 13, as per latest RBI data. Bank
credit grew at 13.88 per cent year-on-year to Rs 60,90,030
crore in the fortnight ending 13 June.
 India's forex reserves rose by $950.9 million to
$313.536 billion in the week to June 13, on account of
gains in currency assets.
 IndusInd Bank has launched ‘video branch’ - a unique
service allowing customers to interact face-to-face with
their bank branch using desktop, tablet or smartphone.
 Reserve Bank has raised the annual overseas
investment ceiling for individuals to $ 125,000 from
present $ 75,000.
 The Reserve Bank has asked banks to disclose sector
wise loans in their financial statements from 2014/15
onwards.
MAY 2014
NAYAK COMMITTEE SUBMIT ITS REPORT
P J Nayak Committee appointed by the RBI to review
Governance of Boards of Banks in India has recommended
that the government should cut its stake in public sector
banks to below 50 percent. All banks be incorporated under
the Companies Act and a Bank Investment Company (BIC)
be constituted to which the Government transfers its
holdings in banks. It has also said that RBI — and not the
finance ministry — should have the last word on regulation
of public sector banks which command 70% of the market
share.
NO PENALTY FOR TERM LOAN PREPAYMENT
RBI has asked banks to consider allowing their borrowers
the facility of prepaying all floating rate term loans without
any penalty. Earlier this facility was available on house loans
only. Some banks are charging pre-payment penalty of up
to 2 per cent of the outstanding loans.
NO PENALTY IN INOPERATIVE ACCOUNTS
RBI has asked banks not to levy penalties on customers
who don’t maintain a minimum balance in any inoperative
account, as part of a consumer protection initiative.
Already, Banks are not allowed to charge customers for
non-operation or activation of Basic Savings Bank deposit
accounts. However, Banks are permitted to recover charges
for non maintenance of minimum balance in normal savings
accounts.
INDEPENDENT SB ACCOUNTS FOR MINORS
RBI has advised that banks are
allowed to open only savings
bank account in the name of
minors of age above 10 years,
independently, without the
name of their guardians.
However, it has been left to the
banks to decide various terms
and conditions, including
amount of withdrawal, issuance
of cheque book / debit cards.

RUPAY CARD LAUNCHED BY THE PRESIDENT
President of India formally launched India’s first indigenous
payment gateway, RuPay, to counter rival networks such as
Visa and Mastercard to work on ATMs and merchant outlets
and help in reducing cash transactions. Developed by the
National Payments Corporation of India (NPCI), it is the
seventh such payment gateway in the world.
LOK ADALATS FOR CHEQUE BOUNCE CASES
The Law ministry is working on amendments to the Legal
Services Authority Act that would allow leading banks to set
up permanent Lok Adalats on their premises for settlement
of all disputes related to cheque bouncing. Retired district
judges or additional district judges may be appointed as
chairpersons of such Lok Adalats.
CRYSTALLIZE INOPERATIVE FC ACCOUNTS-RBI
The Reserve Bank has directed banks to convert credit
balances in any inoperative foreign currency (FC)
denominated deposit into Indian rupee if the former
remains not in use for three years from the date of maturity
of deposit.
BANKS TO HAVE TALKING / BRAILLE ATMs
RBI has directed that all new ATMs to be installed by
commercial banks from July 2014 onwards would provide
audible instructions and Braille keypads to customers.
Later, all existing ATMs should also be converted as talking
ATMs with Braille keypads. RBI also asked banks to
provide the facilities of magnifying glasses at all bank
branches for the use of persons with low vision.
10 YEAR TERM LOANS FOR EXPORTERS
The Reserve Bank has allowed banks to provide long-term
loans of up to a maximum tenor of 10 years to exporters to
be utilised for execution of long-term supply contracts for
export of goods. Existing norms allow banks to give loans
for up to one year only.
BMB DECLARED AS SCHEDULED BANK
Bharatiya Mahila Bank, the country's first all-women lender,
has been included in the second schedule to the RBI Act.
This means that now it is eligible for loans from RBI on bank
rate and to acquire membership of clearing houses.
RBI TO LAUNCH PLASTIC CURRENCY
RBI has advised that one billion plastic notes of Rs.10
denomination will be introduced in a field trial to be
launched in the latter half of 2014 in five cities selected for
their geographical and climatic diversity. The selected cities
are Shimla, Kochi, Mysore, Jaipur, and Bhubaneswar. Plastic
notes have an average life span of about five years and are
difficult to imitate.
RBI DEFERS BIOMETRIC AUTHENTICATION
RBI has put on hold its order requiring all future credit card
swipe machines and ATMs to be capable of biometric
authentication. Instead, a pilot project will be launched
where issuers of prepaid cards will be allowed cash
withdrawals on the basis of biometric authentication.
APRIL 2014
BANK LICENCE FOR IDFC AND BANDHAN
The Reserve Bank of India has granted "in-principle" bank
licences to only two applicants - Infrastructure Development
Finance Company and microfinance lender Bandhan
Financial Services Ltd. The in-principle approval is valid for
18 months. The announcement took time as there was a
debate over whether corporate houses and entities with
exposure to real estate should be given licences or not and
finally they lost the race.
RBI TO MEASURE INFLATION BY CPI
The Reserve Bank has adopted the new Consumer Price
Index (combined) as the key measure of inflation. Earlier,
RBI had given more weightage to Wholesale Price Index
(WPI) than CPI as the key measure of inflation for all policy
purposes. This has been done on recommendations of Urjit
R. Patel panel.
NO CHARGES ON MIN BALANCE VIOLATION
The Reserve Bank has asked banks not to levy penal
charges for non-maintenance of minimum balance in
ordinary savings bank account and inoperative accounts.
Instead, banks could curtail the services accorded to those
accounts until the balance is restored.
DOUBLE PASSWORD FOR ONLINE BANKING
The RBI report on 'Enabling Public Key Infrastructure (PKI)
in Payment System Applications’ has suggested that banks
should introduce two-stage authentication to ensure security
of online transactions. It also said that banks should also
inform customers about risks associated with different types
of online banking transaction.
RBI TO LAUNCH MSS FOR 50,000 CRORE
The Reserve Bank has fixed the quantum of intervention
through Market Stabilisation Scheme (MSS) at Rs 50,000
crore to manage liquidity. The government launched MSS in
consultation with RBI in 2004 with the objective to absorb
excess liquidity, arising out of significant foreign exchange
inflows, by issuing treasury bills or dated securities.
SBI JOINS TWITTER COMMUNITY
State Bank of India has taken one more step on the social
media front by launching a twitter handle. The Twitter
handle for SBI is https:// twitter.com/ The Official SBI". The
bank expects this Twitter handle to connect better with the
tech-savvy young generation.

PRE PAID CARD LIMIT FIXED AT Rs 50,000/-
The Reserve Bank has
fixed the upper limit
to Rs. 50,000 for
issuance of pre-paid
payment instruments
to make all issuers
comply with the strict
money laundering
laws and all the
relevant KYC norms. No card can be issued without verifying
the KYC of the issued party.
FIMMDA/FEDAI TO ADMINISTER BENCHMARKS
Accepting the recommendations of the Vijaya Bhaskar
committee, the Reserve Bank has asked the Fixed Income
Money Market and Derivatives Association of India
(FIMMDA) and the Foreign Exchange Dealers’ Association of
India (FEDAI) to act as administrators of the
Indian rupee interest rate and foreign exchange
benchmarks.
GOVERNMENT INTERNAL REVENUE ORDER
The panel set up by RBI under chairmanship of Umesh
Bellur to suggest modalities for setting up a system for
GIRO - Government Internal Revenue Order has suggested
a mechanism for centralised bills payment system in the
country, primarily by setting up two organisations - Bharat
Bill Payment Services or BBPS and the Bharat Bill Payment
Operating Units or BBPOUs. The BBPS will function as a
'not-for-profit' organisation which has necessary experience
in the payment systems while the BBPOUs may be operated
on commercial lines.
 The Reserve Bank has directed banks offering gold
metal loans (GML) to strengthen their credit
appraisal process in the wake of frauds committed by
certain jewelers.
DEFENCE, SCIENCE
& TECHNOLOGY
JUNE 2014
INS KAMORTA TO JOIN INDIAN NAVY
India’s first indigenously-
built anti submarine
warfare corvette INS
Kamorta will be
commissioned into the
Indian Navy next month.
Built by the Garden
Reach Shipbuilders & Engineers Ltd (GRSE), Kolkata, it will
be the first warship armed with an indigenous rocket
launcher for anti submarine warfare.
BRAHMOS MISSILE TEST FIRED
Indian-Russian joint venture Brahmos Aerospace test-fired
its 290-km range supersonic missile from the stealth
destroyer INS Kolkata off India's west coast near Karnataka.
GARUDA-V: AIR EXERCISE WITH FRANCE
The fifth Indo-French bilateral air exercise — Garuda-V was
held at the Jodhpur Air Base. It is aimed at enhancing
operational cooperation and validating capabilities. During
the war games, both the Air Forces will practice aerial
warfare, including manoeuvres to carry out surgical strikes.
NASA TO BUILD WORLD’s LARGEST TELESCOPE
NASA plans to build world’s most powerful telescope -
Advanced Technology Large Aperture Space Telescope
(ATLAST) to analyse the environment of other planets and
ability to track existence of aliens life. It will be able to track
life which is as far as thirty light years away.
EARTH’s LARGEST WATER RESERVOIR FOUND
Researchers at Northwestern University and the University
of New Mexico believe they have found the Earth's largest
water reservoir around 643 km underneath North America,
inside mantle rock. Though not in the familiar liquid form -
the ingredients for water are bound up in rock deep in the
Earth's mantle.
‘KEPLER 10 C’ – NEW GIANT PLANET
A huge Earth-like planet found by US astronomers has
changed the perception of planet formation. The newly
discovered Kepler-10c planet has been dubbed ‘Mega-Earth’
thanks to its diameter of 29,000 kilometers and an
estimated weight 17 times greater than Earth, which has a
diameter of 12,742 kilometers. This makes Kepler-10c the
biggest rocky planet ever discovered.
MAY 2014
NANO FINGERPRINTS FOR CURRENCY / CARDS
Scientists have developed
invisible nano 'finger-
prints' that could be
embedded into gadgets,
banknotes and credit
cards, making it
impossible to counterfeit
the objects. Unique
patterns made from tiny,
randomly scattered silver
nanowires have been created in an attempt to authenticate
goods and tackle the growing problem of counterfeiting.
NEW ANTIBIOTICS DISCOVERED
In a breakthrough, scientists have discovered a new class of
antibiotics to fight deadly bacteria such as methicillin-
resistant Staphylococcus aureus (MRSA) and other drug-
resistant bacteria that threaten public health.
The new class, called oxadiazoles, was discovered by
University of Notre Dame, USA.
JOINT NAVAL DRILL WITH SINGAPORE
Singapore Indian Maritime Bilateral Exercise - SIMBEX 14,
the 2014 series of annual bilateral naval exercises between
the Indian Navy and Singapore Navy was conducted in the
Andaman Sea from 22 May to 28 May 14 to enhance inter-
operability and mutual understanding between two navies.

UN WARNS AGAINST ‘EL NINO’ EFFECT
The UN weather agency-World Meteorological Organisation
(WMO) has warned that there is strong possibility of an "El
Nino" climate phenomenon in the Pacific Ocean this year,
bringing droughts and heavy rainfall to the rest of the
world, including India.
The El Nino phenomenon occurs every two to seven years,
when the prevailing trade winds that circulate surface water
in the tropical Pacific start to weaken.
ARMY HOLDS WAR PRACTICE IN RAJASTHAN
Indian Army conducted the “Sarvada Vijay” exercise in West
Rajasthan as part of regular training with a large army
formation for practising and honing war fighting skills in
tough desert conditions.
‘NABHRATNA’ TO TEST RADAR SYSTEMS
Hindustan Aeronautics Limited (HAL) has delivered a
Dornier light-weight aircraft named Nabhratna to the
Defence Research and Development Organization to carry
out testing of its under-development radar systems.
ASTRA MISSILE TEST FIRED
India’s first indigenously developed beyond visual range
(BVR) air to air missile successfully test fired from a
Russian-built Sukhoi Su-30MKI fighter jet. It has a range of
60 kilometers.
SINO INDIA JOINT MILITARY EXERCISE
India and China have decided to conduct a joint military
exercise at Bathinda, Punjab, less than 100 kms from
Pakistan. Bathinda is the base of the Indian Army’s 10 Corps
and has a big airbase also.
 The DRDO has successfully test-fired the surface to air
Akash air defence missiles off the coast of Balasore in
Odisha.
 Pakistan successfully test-fired its surface-to-surface
ballistic missile Hataf-III - Ghaznavi capable of
carrying nuclear weapons up to 290 kilometers.
APRIL 2014
IRNSS 1B LAUNCHED SUCCESSFULLY
India successfully launched its second navigational satellite
IRNSS 1B onboard PSLV-C24 from Sriharikota on Andhra
coast. The 1,432 kg satellite will form part of the Indian
Regional Navigation Satellite System (IRNSS), an equivalent
to GPS of the USA, comprising of seven satellites.
MICROSOFT SAYS GOODBYE TO WINDOWS XP
From April 8, Microsoft has stopped technical support for its
most popular operating system (OS) Windows XP globally.
The OS launched in October 2001, is three generations
behind the latest Windows 8 that hit markets in Oct. 2012.
NAVY SELLS OFF ITS FIRST AIRCRAFT CARRIER
The Navy has sold the iconic air craft carrier INS Vikrant to
a ship-breaking company for Rs. 63.2 crore. The ship
decommissioned in 1997 played a major role in 1971 war.
INS Vikrant (formerly HMS Hercules) was purchased by
India from the United Kingdom in 1957. It was operated
from 1961 to 1997. (The present INS Vikrant is the
indigenously built aircraft carrier which was launched in
2013 will be commissioned around 2018.)
NEW INTERCEPTOR MISSILE TESTED
In a significant milestone in the direction of developing a
two-layered ballistic missile defence system, India
successfully tested its maiden Prithvi Defence Vehicle (PDV)
for engaging targets (incoming missiles) at more than 120
km altitude.
JOINT INDO FRENCH AIR EXCERCISE
From June 3, India and France will start a 10-day joint Air
exercise 'Garuda-5 in Rajasthan's Jodhpur airbase, aimed at
training the pilots and crew of Indian and French fighters in
air superiority operations.
WOMEN TO BECOME COMBAT OFFICERS
The government has approved
recruitment of young women as
'combat officers' in Sashastra Seema
Bal. Young women up to the age of
25 years will be recruited as direct
entry officers in the rank of Assistant
Commandants.
AGNI -I TESTED IN NIGHT
India successfully conducted maiden
night test of its indigenously
developed nuclear-capable surface to
surface ballistic missile – Agni-I, with
strike range of 700 km from the Integrated Test Range
(ITR) at Wheeler Island, off Odisha coast.
INS SHIVALIK: The advanced Indian missile frigate
visited Qingdao - the eastern port city of China, to take part
in exercises to mark the Chinese Navy’s 65th anniversary.
 The Army successfully test fired an advanced version of
290-km range supersonic cruise missile, BrahMos, at
the Pokhran test range in Rajasthan.
 DRDO team successfully tested its indigenously
developed surface-to-air missile Aakash from the
Integrated Test Range near Chandipur, District Balasore
in Odisha.

INTERNATIONAL
JUNE 2014
ISIS LAUNCHES FIERCE ATTACK IN IRAQ
Sunni militants, led by jihadists from the Islamic State of
Iraq and Syria (ISIS) have since the beginning of June,
killed thousands of civilians and army personnel in Iraq in
their bid to dethrone the present Shia government led by
Premier Nouri al-Malikii. They have been successful in
gaining control of some major cities like Tikrit and Mosul.
ISIS militants are supporters of Saddam Hussein, ex
president of Iraq who was sentenced to death in 2012.
The rift between the two major Islamic communities –
Sunnis and Shias, runs like a tectonic fault-line. The division
between Sunni and Shia Muslims is the oldest in the Middle
East — and yet it is one which seems increasingly to be
shaping the destiny of this troubled region.
The rift goes right back to the beginning — and a row over
who should succeed the Prophet Mohamed as leader of the
emerging Islamic community when he died in the early 7th
century.
The majority of his followers thought his closest associate,
Abu Bakr, should take over. They became the ‘Sunnis’. But a
minority thought the Prophet’s closest relative, his son-in-
law and nephew Ali, should succeed. This minority came to
be known as ‘Shias’. Word Shia is an abbreviation of Shiat
Ali “the party of Ali”.
Intrigues and violence followed. Eventually Ali was killed, as
was his son Hussein, and persecution and martyrdom
became ingrained in the Shia psyche. The two sides agreed
on the Quran but had different views on hadith, the
traditions recorded by the Prophet’s followers about what he
had said and done in his life. From time to time, however,
violence has flared in which the Shia, in the main, have
been brutally and even genocidally persecuted.
There are around one and a half billion Muslims in the
world. Of these, somewhere between 10 and 20 per cent —
estimates vary considerably — are Shia. In most countries
Shias are minority in a Sunni homeland. But in Iraq, Iran,
Bahrain and Azerbaijan, Shias are in majority.
For past several years, Shia majority of Iraq was ruled by
Sunni warlord – Saddam Hussein, until the invasion of Iraq
by US forces that ended with hanging of Saddam in 2012.
Afterwards, when elections took place, Shias came in to
power. Since then, Sunni supporters of Saddam have been
waging a war against the elected govt. They got together to
form the Islamic State of Iraq and Syria – ISIS with the sole
objective of regaining the lost power.
USA FIRST CHOICE FOR FDI
A survey by global consulting firm A T Kearney has shown
that the USA is the top destination in the world for foreign
direct investment. India has slipped to its lowest position;
seventh, in over a decade.
 China plans to shut down over 2,000 small coal mines
by next year to eliminate outdated capacity and
improve work safety and address pollution concerns.
 G7 meet of industrialized nations held at Brussels,
Belgium
MAY 2014
RUSSIA, CHINA VETO AGAINST SYRIA
Russia and China on 22 May 2014 exercised their veto
power in UN Security Council against a draft resolution
which was intended to refer the Syrian civil war to the
International Criminal Court (ICC). Of the total 15 votes in
Security Council, the resolution received 13 votes in favour
but was double vetoed by the Russia and China for the
fourth time.
VIETNAM PROTESTS AGAINST CHINA
Widespread violent protests against China spread in
Vietnam over the South China Sea dispute as thousands of
angry Vietnamese torched several Chinese projects to
protest attempts by a Chinese oil rig to drill in the disputed
waters.
US TROOPS TO STAY IN AFGHANISTAN
USA has said that
America will withdraw its
troops from Afghanistan
completely by 2016. The
current 32,000-strong US
deployment in
Afghanistan will be
reduced to around 9,800
by the start of 2015 and
to bare minimal by end of 2016.
OVER 200 GIRLS ABDUCTED BY BOKO HARAM
Suspected Boko Haram Islamist militants abducted more
than 200 school girls aged between 12 and 15 from north-
eastern Nigeria to pressurize Nigerian government for
release of their ally militants. USA and several other
countries have condemned this ghastly act and offered all
possible help to Nigeria for locating the girls. Boko Haram
literally means ‘Western education is forbidden’.
E E S FORMED LED BY RUSSIA
The leaders of Russia, Kazakhstan, and Belarus have signed
a treaty in Astana on the creation of a Russian-led Eurasian
Economic Union (EEU) to create a territory for unified
customs tariffs beginning on January 1, 2015.
WORLD ECONOMY TO GROW BY 2.8% - U N
The United Nations has lowered its forecasts for global
economic growth in 2014 and 2015 to 2.8 per cent and 3.2
percent respectively, for reasons such as the exceptionally
cold winter in the United States, the escalating political crisis
in Ukraine, and financial turbulence earlier this year.

WHO WARNS AGAINST POLIO
The World Health Organisation has warned that polio has
reemerged as public health emergency, as new cases of this
crippling disease have been noticed in countries like Syria
and Pakistan.
UNO AND IOC TO PROMOTE SPORTS
The United Nations and the International Olympic
Committee have signed a historic agreement to use the
power of sports to promote peace and economic
development, a move that strengthens collaboration
between two of the world's major organizations.
TRAIN TUNNEL AT AN ALTITUDE OF 3.6 KMS
The world's highest tunnel for high-speed trains became
operational in northwest China on May 1 passing through
the Qilian Mountains at an altitude of 3,607.4 metres (11835
feet). The 16.3-km-long tunnel links the Gansu and Xinjiang
provinces of China.
MOLDOVA AND GEORGIA JOIN HAND WITH E U
Two former Soviet republic countries-Moldova and Georgia
have signed the European Union (EU) Association
Agreement to strengthen their trade and political ties with
EU. The accord will also help them defend from threats by
Russia which opposes the EU's eastward expansion.
ISLAMIC BANKING IN AFGHANISTAN
Afghanistan's Central Bank, Da Afghanistan Bank (DAB) has
signed an agreement with a non-profit independent
organization 'Harkat' for implementing the Sharia compliant
banking system in the country. The Islamic banking or
Sharia compliant banking is a system based on the
principles of Islam which prohibit payment/charging of
interest on deposit/loans, respectively.
 Bhutan is likely to become the first country in the world
to go wholly organic in its food production, totally
avoiding usage of chemical fertilisers and pesticides.
 Royal Navy Submarine Service of United Kingdom for
the first time in its 110-year history has appointed
female submariners.
 Spain has suspended the 12th bull fight festival (called
San Isidro festival in Spain) after matadors got injured
by bulls.
 Brazil released two postage stamps to pay tribute to the
100 years of Indian cinema.
 Saudi Arabia has decided to ban the import of Indian
chilies due to presence of high pesticide residues.
APRIL 2014
G-20 FMs MEET AT WASHINGTON
Finance Ministers and business leaders from G20 nations
met at Washington, USA, to discuss ways to boost
investment in infrastructure to boost world GDP by more
than $2 trillion over the coming five years.
E U BANS IMPORT OF MANGOES FROM INDIA
The European Union has
decided to temporarily ban
the import of Alphonso
mangoes and four other
vegetables from India from
May 1 due to the alleged
presence of pests in them.
The trading community
pegs the loss because of
the ban at more than
Rs100 crore as India is the leading exporter of mangoes in
the world. India accounts for more than half of the total
Mango production in the world.
WORLD TRADE TO GROW BY 4.7%
Latest WTO report projects global trade to recover and grow
by 4.7% in 2014, more than double of what was achieved in
2013. The growth is projected to be slightly faster at 5.3%
in 2015, which is also the 20-year average growth rate. For
the past two years, global trade growth averaged 2.2%.
PERSONS IN NEWS
JUNE 2014
ARUNADHATI BHATTACHARYA: Chairperson of State
Bank of India has been ranked as most powerful women in
India by the Forbes Magazine. She stands at 36th
rank.
KIRAN MAZUMDAR-SHAW: India's biotechnology
queen, Chairperson of Biocon Industries, has been awarded
the coveted Global Economy Prize for business by the Kiel
Institute in Germany during its centenary celebrations. The
annual prize is awarded to three individuals - a high-ranking
policy maker, a renowned economist and an outstanding
entrepreneur.
IROM SHARMILA CHANU: A local court in Imphal,
Manipur has ruled that there is prima facie evidence of
attempt to commit suicide against Manipur social activist
who has been on fast for the past 13 years demanding
withdrawal of Armed Forces Special Powers Act (AFSPA)
from the State.
MICHAEL SCHUMACHER: 45 year old German Formula
One champion was in news as he emerged out of coma
after almost five and a half months, following his
devastating ski accident in December, 2013.
ANGELA MERKEL: Chancellor of Germany, she has been
declared as most powerful women in the world by Forbes
Magazine.

BOWE BERGDAHL: An US sergeant was in news as he
was released by his Taliban captors in Afghanistan on May
31 to American forces in exchange for five Taliban detainees
from Guantanamo Bay prison in USA.
JUAN CARLOS: Spain's King, who led Spain's transition
from dictatorship to democracy, was in news as he
announced his abdication in favour of his son, Prince
Felipe, making way for a "new generation”.
MAY 2014
YINGLUCK SHINAWATRA:
Prime Minister of Thailand
was removed from office by
a Constitutional Court as she
was found guilty of abusing
her power when she
transferred a civil servant to
another post more than three
years ago. The court ordered
her to step down
immediately along with all
members of her cabinet who were in office at that time.
Later the army imposed martial law in the country.
RAMARNI WILFRED: An 11-year-old boy in the UK has
achieved the highest possible score of 162 on a Mensa IQ
test, making him brainier than physicist Albert Einstein.
ALENKA BRATUSEK: First lady Prime Minister of Slovenia
submitted her resignation as she lost the majority in her
own party.
APRIL 2014
CHUNG HONG-WON: South Korea’s
Prime Minister resigned taking moral
responsibility for the sinking of a
passenger ferry that left 300 people
dead or missing. He apologized for
having been unable to prevent the
accident from happening and unable
to properly respond to it afterwards.
SERIK AKHMETOV: Prime Minister of Kazakhstan, Central
Asia's largest economy, was in news as he resigned from his
post, along with his entire cabinet.
JEAN-MARC AYRAULT: Prime Minister of France was in
news as he was sacked by his President after a stinging
defeat of his (Jean’s) group in local elections.
NANCY POWELL: The U.S.
ambassador to India has
resigned following a row over
the arrest of a junior Indian
diplomat Devyani Khobragade
in New York and her
subsequent strip search that
pushed relations between the
world's biggest democracies to
their lowest ebb in more than
a decade.
APPOINTMENTS
JUNE 2014
RANJIT KUMAR: Solicitor General of India
Dr. AJIT KUMAR DOVAL: National Security Adviser, Govt
of India
ARUN JAITLEY: The Union
Finance Minister has been
appointed as India's Governor on
the Board of Governors of the
Asian Development Bank.
MADHURI DIXIT: The Bollywood celebrity has been
appointed as UNICEF's 'celebrity advocate for child rights'.
VISHAL SIKKA: Chief Executive Officer, Infosys
SUMITRA MAHAJAN: Speaker, Lok Sabha
DR. SUDHIR KUMAR MISHRA: CEO & MD, BrahMos
Aerospace Corporation
Arun Mishra, Adarsh Kumar Goel and Rohinton
Nariman: Judge in Supreme Court
N. SRINIVASAN: First Chairman of International Cricket
Council, Dubai
JUSTICE VK RAJAH: Attorney General of Singapore, he is
an Indian-origin judge.
ALEXANDER STUBB: Prime Minister of Finland
REUVEN RIVLIN: President of Israel, from Likud party
BASHAR AL-ASSAD: Elected as President of Syria, for the
third time successively.
PRINCE FELIPE: New King of Spain
ABDUL FATTAH AL-SISI: President of Egypt
MAY 2014
MUKUL ROHATGI: 14th Attorney-General of India
RAJIV MATHUR: Chief Information Commissioner
Lt Gen D S SUHAG: Chief of Army Staff (28th)
RAJEEV SURI: President and CEO of Finnish tele-
communications equipment maker Nokia.
AHMED MAITEEQ: Prime Minister of Libya
DALIA GRYBAUSKAITE: President of Lithuania, popular
as ‘Iron Lady’ of Lithuania
PETRO POROSHENKO: President of Ukraine
JACOB ZUMA: President of South Africa, from African
National Congress party
LUIS GUILLERMO SOLIS: President of Costa Rica

APRIL 2014
RAJENDRA MAL LODHA: Chief Justice of India (41st),
appointed by President of India
ILA PATNAIK: Noted economist has been appointed
Principal Economic Adviser in the Ministry of Finance.
Admiral Rabinder Kumar Dhowan: New Chief (22nd) of
Indian Navy
ARVIND MAYARAM: Union Finance Secretary.
R. CHANDRASEKARAN: Chairman, National Association of
Software and Services Companies (Nasscom)
R. GANDHI: Deputy Governor, Reserve Bank of India
VIKTOR ORBÁN: Prime Minister of Hungary
KARIM MASSIMOV: Prime Minister of Kazakhstan
ABDELAZIZ BOUTEFLIKA: President of Algeria
MANUEL VALLS: Prime Minister of France
AWARDS & HONOURS
JUNE 2014
49TH
JNANPITH AWARD – 2013: Noted Hindi poet
Kedarnath Singh. The award includes Rs 11 lakh as cash
prize.
27TH MOORTIDEVI AWARD – 2013: Renowned
scientist-turned- Malyalam writer C Radhakrishna for his
book 'Theekkadal Katanhu Thirumadhuram'
Bailey’s Women’s Prize for Fiction : Eimear McBride for
her first novel ‘A girl is a Half-Formed Thing’
'LEGION OF FRANCE': Bollywood actor Shah Rukh Khan
for his contribution to Cinema. It is one of its highest
civilian awards conferred by France.
TANG PRIZE 2014 DECLARED
Dr. Samuel Yin, a business tycoon from Taiwan established
the Tang Prizes in December 2012 in four major fields of
Sustainable Development, Biopharmaceutical Science,
Sinology, Rule of Law to encourage research in these fields.
They are given once in two years.
FIELD NAME CONTRIBUTION
Sinology Yu Ying-shih Research in Chinese
cultural, intellectual and
political history
Sustainable
Development
Gro Harlem
Brundtland, Ex.
PM of Norway.
innovation, leadership
and implementation of
sustainable
development
Rule of Law Albie Sachs fight against apartheid
Bio-pharma-
ceutical science
Dr. Tasuku
Honjo & James
Allison
fight against cancer
WORLD FOOD PRIZE: won by Sanjaya Rajaram, India
born veteran plant scientist from Mexico, for his contribution
in increasing the wheat production in world. The Prize,
carrying a cash prize of $ 250,000, would be presented
during the U.N. World Food Day on October 16.
DAG HAMMARSKJOLD Medal: Gallantry award given by
UNO to eight Indian soldiers on 29th
May - International Day
of UN peacekeepers.
Two Indian-Americans Sriram J Hathwar and Ansun Sujoe
jointly won the prestigious Scripps National Spelling Bee
at National Harbour, Maryland (USA).
MAY 2014
GOLD MEDAL FOR INDIAN DOCUMENTARY
“Silent Screams — India’s Fight Against Rape” a
documentary film directed by Pria Somiah won a Gold World
Medal for ‘Best Investigative Report’ as well as Bronze
Medals each in the ‘Current Affairs’ and ‘Human Concerns’
sections respectively at the 2014 New York Festivals
International TV and Film Awards.
NEW FRONTIERS AWARD 2014 FOR INDIA
Arabian Travel Market (ATM) awarded this award to India
for its outstanding contribution to rebuild physical
infrastructure and its rural tourism economy in the wake of
the June 2013 floods, landslides in the northern state of
Uttarakhand and the devastation wreaked by tropical
Cyclone Phailin.
PALME D’OR: The top prize for best picture at the Cannes
Film Festival won by Turkey’s Winter Sleep directed by Nuri
Bilge Ceylan
National Florence Nightingale Awards 2014 conferred
on 35 nursing personnel by President of India for their
meritorious services.
APRIL 2014
THE IIFA 2014 AWARDS
Held at Tampa Bay, Florida, USA
Best Picture: Bhaag Milkha Bhaag
Best Actor: Farhan Akhtar for Bhaag Milkha Bhaag
Best Actress: Deepika Padukone for Chennai Express
Best Director: Rakeysh Om Mehra for Bhaag Milkha Bhaag
Lifetime Achievement Award: Shatrughan Sinha
Best Entertainer of the Year: Deepika Padukone
GOLDMAN ENVIRONMENTAL PRIZE: Indian
environment activist Ramesh Agrawal has won the
prestigious award ‘Green Nobel’ that honours heroic
grassroot environmentalists around the world for their
achievements. Agrawal founded Jan Chetana, a grassroots
movement to protect people and the environment from
rampant industrialisation. The award is given to six persons
across the world annually by Goldman Environmental
Foundation based in San Francisco, USA.

61ST NATIONAL FILM AWARDS – 2013
NAME OF AWARD NAME OF THE WINNER
Best Feature Film Ship of Theseus (English-Hindi) by
Anand Gandhi
Best Popular Film
Providing Wholesome
Entertainment
Bhaag Milkha Bhaag (Hindi) by
Rakeysh Omprakash Mehra
Best Hindi Film Jolly LLB by Subhash Kapoor
Nargis Dutt Award for
Best Feature Film on
National Integration
Thalaimuraigal(Tamil) by Balu
Mahendra
Best Direction Hansal Mehta for Shahid (Hindi)
Best Actor Raj Kumar
For Shahid (Hindi) & Suraj
Venjaramoodu for
Perariyathavar(Malayalam)
Best Actress Geetanjali Thapa for Liar’s Dice
(Hindi)
FEMINA MISS INDIA WORLD 2014 (KOYAL RANA)
1st Runner Up Jhataleka Malhotra
2nd Runner Up Gail Nicole Da Silva
Femina Miss India Asia Lopamudra Raut
Pacific 2014
PULITZER PRIZE (PUBLIC SERVICE): American
journalism’s highest honour awarded to the leading US
newspapers The Washington Post and The Guardian for
revealing the massive U.S. government surveillance effort.
PULITZER PRIZE (POETRY): India-born poet Vijay
Seshadri, for his witty and philosophical collection of poems
– ‘3 sections’.
MILLENNIUM TECHNOLOGY PRIZE: Stuart Parkin,
British-American physicist has won the 1 million-Euro prize
for discoveries leading to a thousand-fold increase in digital
data storage on magnetic disks. His discoveries enabled
cloud services and the online distribution of social networks,
music and film.
THE KNIGHT GRAND CROSS: Tata Group chairman
emeritus Ratan Tata has been decorated with the British
government’s highest civilian honour in recognition for the
work his group is doing in England.
45th
DADASAHEB PHALKE AWARD – 2013: Gulzar,
veteran poet and film lyricist. His real name is Sampooran
Singh Kalra. It is the highest honour from the govt side to
recognize a person’s contribution in promoting Indian
cinema.
BOOKS & AUTHORS
JUNE 2014
Blood Feud: The Clintons vs. The Obamas by Edward Klein
Chimamanda Ngozi Adichie – Americanah
Hannah Kent – Burial Rites
Audrey Magee – The Undertaking
Eimear McBride – A Girl Is a Half-Formed Thing
Donna Tartt – The Goldfinch
MAY 2014
Post Haste: Quintessential India by B.G. Verghese
Hard Choices by Hillary Clinton
India Junction – A Window to the Nation brought out
by Public Relations Directorate, Railway Board.
A Stamp is Born by C. R. Pakrashi
Arctic Summer by Damon Galgut
Capital in The Twenty First Century by Thomas Piketty
My Years with Rajiv and Sonia by R.D.Pradhan
Shivaji, the Real Hero: A pictorial book by the artist
Brijesh Mogre, released in Parliament of UK.
APRIL 2014
‘An Undocumented Wonder: The Making of the Great
Indian Election’ by S. Y. Quraishi
Story of A Death Foretold by Oscar Guardiola-Rivera
Good Governance: Never On India's Radar by Madhav
Godbole
OBITUARY
JUNE 2014
SULTAN AZLAN SHAH: Known as the 'Father of Malaysian
Hockey' for his colossal contribution to the international
hockey for over 41 years -- both as a player and as an
administrator. He was Sultan of Perak, Malaysia.
GOPINATH MUNDE: Union Minister for Rural
Development and Panchayati Raj, Prominent BJP leader
from Maharashtra.
MAY 2014
RUSSY MODI: Noted corporate personality, Ex Chairman
and Managing Director of Tata Steel
MADHAV MANTRI: India's oldest Test cricketer, maternal
uncle of the legendary cricketer Sunil Gavaskar
GARY BECKER: Nobel Laureate economist from Chicago,
USA.

APRIL 2014
V K MURTHY: Renowned cinematographer and Dada
Saheb Phalke awardee, known for capturing breathtaking
images in Guru Dutt's classics like Pyaasa, Sahib Bibi Aur
Ghulam and Kagaz Ke Phool.
GABRIEL GARCIA MARQUEZ: The Nobel laureate, most
popular veteran Spanish-language story writer and novelist
from Colombia. His famous works include ‘One Hundred
Years of Solitude’ and ‘Love in the Time of Cholera’.
PLACES IN NEWS
JUNE 2014
INDIRA GANDHI INTERNATIONAL AIRPORT: The
airport in Delhi was declared second best in service quality
in world and sixth best airport in the world.
MEHRANGIR: Name of the bungalow of Late J. J. Bhabha,
a pioneer nuclear scientist, at Malabar Hills, Mumbai that
was auctioned for a record price of Rs. 372 crore. Sh.
Bhabha wanted that auction money may be used for the
development and the upkeep of the National Centre for the
Performing Arts- NCPA, a non-profit organization. However,
the Department of Atomic Energy (DAE) has appealed to
the govt to acquire the property and to maintain it as a
monument.
RANI-KI-VAV, PATAN: The 11th
century step well at
district Patan of Gujarat has been approved as a World
Heritage site by UNESCO, describing it as an “exceptional
example of technological development” in utilising ground
water resources. Rani-ki-Vav (queen’s step well) is a
particularly large and complex example of a stepwell with
seven storeys of ornamented panels and relief representing
the height of the Maru-Gurjara style.
GHNP, KULLU: The Great Himalayan National Park (GHNP)
in Kullu district of Himachal Pradesh has been accorded the
UNESCO World Heritage Site status for its “exceptional
natural beauty and conservation of biological diversity.”
Some other Indian World Heritage Sites (WHS) include the
Taj Mahal, Ellora Caves, Kaziranga National Park, Keoladeo
National Park, Manas National Park, Nandadevi Biosphere
Reserve and the Sunderbans.
THALOT/ LARJI: place about 40 km from Mandi in
Himachal Pradesh was in news as 24 engineering students,
including six girls, were washed away in River Beas due to
sudden release of water from the reservoir of Larji
hydropower project on river Beas, some five kilometers
away from the accident site. The students were from a
Hyderabad engineering college on an educational trip. The
accident took place when they were taking photographs on
the bank of the river.
GARIPHEMA: Village in Nagaland was in news as it has
been declared the country’s first tobacco-free village on the
occasion of World No Tobacco Day on May 31.
MAY 2014
HERAT: City in Afghanistan was in news as militants armed
with machine guns and rocket-propelled grenades attacked
the Indian Consulate. The Indian diplomatic staff escaped
unharmed, while all four attackers were killed.
MANISA: place in the western Turkey was in news as
over 300 people were killed and hundreds more remained
trapped underground after an explosion and fire in a coal
mine took place.
AAB BAREEK: a village in Badakhshan province of
Afghanistan was in news as several hundreds of persons
were killed when their village was swept away due to a
heavy mud slide.
APRIL 2014
THE EBOLA (GUINEA): A deadly disease, outbreak of
which in West Africa has claimed more than 145 lives so far.
More than 240 people, mostly in Guinea, are suspected of
having caught the illness. There is no vaccine, no treatment
and the disease is almost always fatal.
SPORTS WORLD
JUNE 2014
Jitu Rai became first Indian shooter to win three medals in
successive ISSF Shooting World Cup. Also, by winning his
first-ever Gold medal and one Silver at the ongoing ISSF
World Cup in Maribor, Slovenia, he became the first Indian
shooter to win two medals at the same World Cup.
Abhishek Verma has become the first Indian archer to win
three gold medals in a single international tournament after
a silver medal he won last year was converted to gold.
Abhishek won a silver in the compound men’s event at the
Asian Archery Championship in Chinese Taipei in October-
November last year.
Yogeshwar Dutt and Sushil won the gold medal and
silver medal respectively, in wrestling in International
Competition in Sassari city, Italy.
Indian Premier League – 7: Kolkata Knight Riders won
the IPL title beating Kings Eleven Punjab at the final played
at M. Chinnaswamy Stadium in Bangalore.
Viswanathan Anand won the bronze medal at the World
Rapid Chess Championship held at Dubai.
National Games: The 35th edition of these will be held in
Kerala in Jan– Feb, 2015. Sachin Tendulkar has been
appointed as Goodwill Ambassador for these games.
FRENCH OPEN TENNIS at Roland Garros, Paris
Rafael Nadal of Spain won the men’s title for the ninth time,
and the fifth time in a row, beating Novak Djokovic of
Serbia, Women’s title was won by Maria Sharapova of
Russia, defeating Romania's Simona Halep.

Hockey World Cup (men) Australia defeated The
Netherlands to win the cup at The Hague, Netherland.
Women’s cup was lifted by The Netherland defeating
Australia
16th Asian Junior Athletics Championship: India won
2 Gold, 5 Silver and 5 Bronze medals to finish 5th in final
medal tally at Taipei City, China from 12 June to 15 June
2014.
MAY 2014
Uber Cup for women’s badminton: China beats Japan in
the final played at New Delhi. Indian team lead by Saina
Nehwal won the bronze medal for the first time in Uber Cup.
Thomas Cup: (men’s badminton) Japan beats Malaysia to
lift their maiden trophy in the final played at New Delhi.
National Football Championship (women’s): Manipur
beats Odisha to clinch the title at Golaghat, Assam.
Virat Kohli was ranked no 1 in the latest ICC list of One
Day International (ODI) rankings.
Malavath Purna: The 13 year old
school girl from Khammam district of
Andhra Pradesh created history by
becoming the youngest female to
scale the Mount Everest.
Ronnie O'Sullivan: Snooker player from UK named World
Snooker's ‘player of the year’
World Snooker Championship 2014: won by Mark
Selby of England at Sheffield, England, beating the
defending champion Ronnie O Sullivan.
EUROPEAN CUP (football): Real Madrid won the cup
beating Atletico Madrid in the finals played at Lisbon, Spain
WTA Portugal Open 2014: Sania Mirza of India and Cara
Black of Zimbabwe won women’s doubles title held in
Oeiras, Portugal.
ATP World Tour Masters Tennis: Men’s title won by
Rafael Nadal (Spain) at Mutua Madrid, Spain. Women’s
title was won by Maria Sharapova of Russia.
FIFA WORLD CUP TO USE ‘BRAZUCA’ BALLS
In the upcoming FIFA World Cup in Brazil in June 2014,
technology will get a new meaning as the ‘Brazuca’ balls to
be used in the mega event will come with six in-built
HD cameras capturing 360 degree view of the on-field
action. These footballs have been specially manufactured by
the global sports company Adidas. The word Brazuca
meaning the Brazilian way of life was chosen by over one
million football fans.
Barcelona Club to retain Football player Lionel Messi on
net annual salary of 20 million Euros ($27.4 million) making
him world’s highest paid player
India has slid down two places to the 147th spot in the
latest FIFA Rankings of Football playing countries.
APRIL 2014
Manavjit Singh Sandhu: won the men's trap gold medal
at the ISSF Shotgun World Cup in Tucson, USA.
Saurav Ghosal: India's numero uno squash player has
been awarded the Dato Alex Lee Award for the 'Outstanding
Asian Men's Player of the Year 2013'.
Heena Sidhu has been ranked world No.1 in the 10 meters
air pistol event by the International Shooting Sport
Federation.
Chitra Magimairaj: won the senior’s title in World
Snooker Championships held in Leeds,UK.
7th
South Asia Judo Championships: Indian judokas
won 10 gold, one silver and one bronze medal at
Kathmandu, Nepal.
USA Open Karate Championship: Indian players won
eight medals comprising two gold and six bronze in held at
Las Vegas, USA.
Sri Lanka lifts ICC World T20 trophy after beating
India in the final at the Sher-e-Bangla National Cricket
Stadium in Dhaka, Bangladesh.
Australia beats England to lift the ICC Women’s World
Twenty20 trophy at the Sher-e-Bangla National Cricket
Stadium in Dhaka, Bangladesh.
Stanislas Wawrinka won the Monte Carlo Rolex Masters
Tennis Cup beating Roger Federer at Monte Carlo, Monaco.
2019 Asian Games: Vietnam has decided to quit as hosts
due to lack of preparedness and concerns that holding the
multi-sport event would not be financially viable.
DAYS & DATES
JULY
Architecture day, Doctor’s day July 01
World Sports Journalists Day July 02
Free 4th
of July July 04
World Zonnosis Day July 06
International day of Co-Operatives July 07
World Population Day July 11
Man Walks on the Moon July 20
Kargil Vijay Divas July 26
JUNE
International Children’s Day June 01
World Naturist Day June 03
World Environment Day June 05
Father’s Day June 16
World Refugee Day June 20
International Olympic Day June 23
International Widows Day June 23
International Anti-Drugs day June 26
World Diabetes Day June 27
ALL THE NEWS ITEMS IN THIS MAGAZINE HAVE BEEN SOURCED
FROM VARIOUS NEWS PAPERS AND GOVT. PRESS RELEASES

(January 2014– March 2014)
For details please visit our website: www.gyanm.in
N A T I O N A L N E W S
MARCH 2014
 The largest Solar Power Plant of India, producing 130
MW of power, was launched at Bhagwanpur in
Neemuch, Madhya Pradesh on 26 February 2014.
 India has offered Bangladesh a $1 billion soft loan for
infrastructure development.
 Travellers from Afghanistan, Ethiopia, Syria, Kenya,
Somalia, Nigeria and Pakistan will have to receive
mandatory oral polio vaccine (OPV) before visiting
India.
 India continues to be the largest buyer of arms in the
world, much ahead of China and Pakistan.
 A commemorative postage stamp released in the
honour of freedom fighter “Maulana Hasrat Mohani” .
 Global Ayurveda Festival held at Kochi, Kerala.
FEBRUARY 2014
 Chief Minister of Andhra Pradesh Kiran Kumar Reddy
resigned from his seat and the state was put under
President’s rule.
 For the first time in its history, President’s Rule was
imposed in Delhi following the resignation by the Chief
Minister Arvind Kejriwal.
 The ceiling on poll expenditure for Lok Sabha seat has
been raised to Rs. 70 lac per candidate from Rs. 40 lac
at present and to Rs. 28 lac from Rs. 16 lac for
assembly seat.
 Joachim Gauck, President of Germany visits India.
 India’s electorate for the general election 2014 will be
81.5 crore,
 Prime Minister attended the BIMSTEC-Bay of Bengal
Initiative for Multi-Sectoral Technical and Economic
Cooperation Summit at Nay Pyi Taw, capital of
Myanmar.
 India ranked 8th
among 10 countries in their use of
"digital government".
 As per World Press Freedom Index, India has been
ranked 140th
in the list of 180 countries in terms of
freedom of press.
 Govt has directed that Companies should use words
such as 'Bank', 'Stock Exchange' and ‘Exchange’ only
after receiving no-objection from the concerned
regulator.
 Government has decided to give two additional
attempts to all categories of candidates of the
prestigious exam conducted by Union Public Service
Commission.
 Indian to construct the 450 kms long Haramain High
Speed Railway project in Saudi Arabia to link two of
Islam’s holiest cities, Makkah and Medina.
 Purushottam Express, a super-fast train running
between Delhi and Puri will become the first train in
India to be attached with a Braille-embedded AC coach.
 The National Green Tribunal has banned the burning of
tyres at public places and also during protests by
political and religious groups as it is likely to cause
health hazard.
 India and China have agreed to celebrate 2014 as the
'Year of Friendly Exchanges'.
 India has signed a Double Taxation Avoidance
Agreement (DTAA) with Fiji.
 India signs three security agreements with Israel.
 57.62 crore Aadhaar cards issued till January 31, 2014.
People not having document based identity and address
proof can avail of introducer-based enrolment.
 India currently has the largest population of illiterate
adults in the world at 287 million. 37 per cent of the
global total.
 India and Saudi Arabia signed a Memorandum of
Understanding for cooperation in the field of defence
manufacturing.
 World Islamic Tamil Conference held at Kumbakonam,
Tamil Nadu from 14 to 16 February.
 101st Indian Science Congress held at the University of
Jammu, J&K, 3-7 February.
 A commemorative stamp released in honour of noted
ghazal singer Jagjit Singh
 DAVID JOHNSTON: Governor General of Canada
visits India.
 Ali Mohamed Shein, President of Zanzibar visited
India.
 Hamad bin Isa Al Khalifa, King of Baharin visited
India.

JANUARY 2014
 The Lokpal and Lokayuktas Act, 2013, passed by the
President. It has come in to force from 16th
Jan. 2014.
 Shinzo Abe, Japanese Prime Minister was the Chief
Guest at the Republic Day Parade of 2014.
 The 12th edition of Pravasi Bharatiya Divas (PBD)
Convention was held from 7-9 January, 2014 at Vigyan
Bhawan New Delhi
 Malaysian Minister for Natural Resources and
Environment, G Palanivel, who is president of the
Malaysian Indian Congress, was the chief guest at this
year’s PBD.
 Park Geun-hye, President of South Korea, the country’s
first woman president, visited India on a four-day state
tour.
 India has completed three years without reporting any
case of polio.
 Abdulla Yameen Abdul Gayoom, President of Maldives
visited India.
 Export-Import Bank has agreed to provide a Line of
Credit of $ 19.50 million to Vietnam
 Govt. has allowed super jumbo A-380 aircraft to fly into
India.
 Jeevan Raksha Padak awarded to 37 people for their
meritorious act of bravery in saving human lives.
 The 18th National Youth Festival held in Ludhiana from
Jan 12 to 16. 12th
January is birth anniversary of Swami
Vivekananda, observed as the National Youth Day.
 After Muslims, Christians, Sikhs, Buddhists and Parsis,
now the Jains have been accorded minority status by
the central government.
 A newly built railway platform at Gorakhpur has been
declared as the longest railway platform in the world,
spanning 1,355.40 metre.
 In the Nuclear Materials Security Index 2014 released
by the US-based think-tank Nuclear Threat Initiative,
India has been ranked at 23rd
place.
 Finance Minister presented the vote-on-account for
2014-15 on February 17 in the Lok Sabha in place of
regular budget.
 The Index of Economic Freedom-2014 ranks India
120th globally as India continues to suffer from low,
but improving levels of economic freedom.
 Indian Ordnance Factory has come out with “Nirbheek”,
a .32 bore light-weight (500gram) revolver designed
especially for women to defend themselves.
 Global Intellectual Property Cente, USA has placed
India last in list of 25 countries in terms of protection
and enforcement of intellectual property practices.
 India has been ranked at a low 155th position in a list
of 178 countries compiled by the 2014 Environmental
Performance Index.
 The seventh edition of the Jaipur Literature Festival
started on 17th
January in Jaipur with a keynote speech
by Nobel Laureate Amartya Sen.
 The National Capital Region Planning Board has
approved the inclusion of Jind and Karnal districts of
Haryana in the National Capital Region, NCR.
 Central Vigilance Commission (CVC) to celebrate 50
years of its existence (Feb.1964)
 India’s first Mono Rail starts operation in Mumbai
 India signs labour cooperation agreement with Saudi
Arabia to cover about a quarter of the 28 lakh Indian
expatriates working there.
 Asia’s biggest botanical garden will come up on 153
hectares of area near the Khandwa reservoir, in Naya
Raipur, Chhattisgarh.
 India and Israel have agreed to set up a $40 million
joint fund to support technological ventures for
consolidating and strengthening economic ties.
 Bhutan King Jigme Khesar Namgyel Wangchuck and his
wife Queen Jetsun Pema were in India on a five-day
official visit.
 Foundation stone laid for Global Centre for Nuclear
Energy at Jassaur Kheri in district Jhajjar, Haryana.
 UGC- University Grants Commission celebrates its
Diamond Jubilee on completion of its 60 years.
NEWS FROM STATES
MARCH 2014
 First phase of the ambitious Delhi-Mumbai Industrial
Corridor project started in Maharashtra.
 Nagaland and Assam became the first two states to
be issued with Plastic Photo Identity Card for elections
in India.
FEBRUARY 2014
 The Union Cabinet has approved Odia as the sixth
classical language of India. The other five classical
languages are - Sanskrit, Tamil, Telugu, Kannada and
Malayalam.
 Sikkim has become first state to achieve more than
100 percent sanitation in rural and urban households
and other public sanitary centers.
 The Union Ministry of Tourism declares Sikkim as the
best State in implementation of rural tourism projects.
 Taj Mahotsav 2014 held at Agra, U P with the theme
- Paigham-e Mohabbat - the message of love.
 West Bengal and United Nations Children’s Fund
(UNICEF) launched a campaign about safe drinking
water and safe sanitation practices.
 Central Govt. to develop the 37 km stretch between
Sholinganallur to Kalpakkam in South Buckingham
Canal, Tamil Nadu as the National Waterway-4 (NW-4).
JANUARY 2014
 Karnataka has topped the first ever ranking of state
governments on the basis of their performance and
implementation of the midday meal scheme.

 Odisha is the Best State for providing self employment
to urban poor under SJSRY (Swarna Jayanti Shahari
Rojgar Yojana) during 2012-13.
 Kerala won the ‘UNWTO Ulysses Award for Innovation
in Public Policy and Governance’ for the world
renowned backwater resort of Kumarakom.
 Odisha has launched 'Ama Jangal Yojana' (AJY) to
enhance forest cover in the state jointly by govt. and
forest dependent communities.
 Uttarakhand became the first State to adopt the
provisions of the recently passed Lokpal Act by passing
the Uttarakhand Lokayukta Bill-2014.
 Jonbeel Mela held in Assam to promote harmony
between people of Assam and Meghalaya
 Bihar has announced a bonus of Rs 250 per quintal on
procurement of paddy, pushing the MSP to Rs 1560 a
quintal, highest in the country.
GOVT INITIATIVES
MARCH 2014
 'Maulana Azad Sehat Scheme' launched for health
check up minority students in the age group of 5-14
years
FEBRUARY 2014
 Govt has accepted the long pending demand of ex-
servicemen for ‘one rank, one pension’.
 A Bill that provides for the protection of livelihoods
rights, social security of street vendors and regulation
of urban street vending has been passed by the
parliament.
 A Bill to set up a regular mechanism to encourage and
protect persons to disclose information on corruption or
wilful misuse of power by public servants has been
passed.
 Quota of subsidized LPG cylinders has been raised from
nine to 12 in a year
 A committee led by M. P. Bezbaruah, has been formed
to examine the cause for violence and discrimination
against people from the northeast
 The government has extended Rashtriya Swasthya
Bima Yojna to auto and taxi drivers by committing to
pay half of the premium amount and other half by state
govt.
 The Planning Commission has introduced an annual
rating system for states to enable them improve on
their business climate.
 India will extend visa-on arrival to tourists of 180
nations as against 11 at present, to boost tourism.
 In order to utilize and harness the benefits of Cloud
Computing, Government of India has launched the ‘GI
Cloud’ named as ‘MeghRaj’.
 The Union government has launched an ambitious
project titled ‘Green Mission’ to increase forest cover
by 50 million hectares in the next 10 years
 India plans a multi-nation and multi-modal transport
corridor between India and Central Asia - Russia.
JANUARY 2014
 Rashtriya Kishor Swasthya Karyakram launched to
cover health needs of the nearly 243 million children in
the age group of 10 to 19 years.
 On recommendations of the Sachchar Committee, Govt
has set up the National Waqf Development Corporation
Limited for the development of Waqf properties.
 Govt. has launched the India Inclusive Innovation Fund
(IIIF), with the initial corpus of Rs 500 crore to invest in
innovative, sustainable and profitable ventures.
 PAN card applicants will now have to submit Proof of
Address also.
 Govt. has decided to include works relating to rural
sanitation also in Mahatma Gandhi National Rural
Employment Guarantee Scheme (MGNREGS).
 The National Urban Health Mission (NUHM) launched in
Bangalore to provide adequate and efficient urban
public health delivery system for the urban poor
 The Union Cabinet has approved a new framework for
release of TRPs (Television Rating Points), fixing a
sample size of not less than 50,000 households.
 Union Cabinet has approved a proposal to constitute a
Rail Tariff Authority, RTA to advise the Railway Ministry
on fares.
 Govt. has launched the Housing Start Up Index (HSUI)
to measure level of house construction activity. The
HSUI is a joint initiative of the National Building
Organisation and RBI.
 Scheduled Tribes (ST) households living in forest areas
who have received land rights under the Forest Rights
Act, 2006 will get 150 days employment under mgnrega
scheme.
 The government has approved a proposal to pay formal
sector workers a minimum monthly pension of Rs
1,000, benefiting over 27 lakh pensioners.
 Govt has adopted the new National Youth Policy (NYP-
2014) to improve their participation in priority areas of
education, skill development and entrepreneurship.
 The Centre has approved the rollout of the Multi-
sectoral Nutrition Programme to address the problems
of maternal and child under-nutrition in the country.
 To encourage school children to explore scientific
discoveries, 100 innovation hubs will be set up by the
National Innovation Council in the country by 2017.
ECONOMIC INDICATORS
MARCH 2014
 Global rating agency Fitch expects that India's economy
may grow 4.7 per cent in the current year, lower than
the official estimate of 4.9 per cent.

FEBRUARY 2014
 India’s GDP growth during October-December 2013 was
at 4.7 per cent
 Due to subdued performance in agriculture, mining and
manufacturing in 2012-13, govt has revised growth rate
for the year to 4.5 per cent, from earlier 5 per cent.
 Per Capita Income in India at ‘current prices’ for the
year 2013-14 will be Rs.74920
 India has recorded an average annual economic growth
rate of 8 per cent during the 11th Five Year Plan (2007-
12) compared to targeted 9 per cent.
JANUARY 2014
 The Reserve Bank says that growth of GDP is expected
to fall below 5 per cent in 2013-14 in absence of pick-
up in manufacturing sector.
 Moody's Analytics says that India’s GDP growth will be
in the 5 to 5.5 per cent range through 2014, before
heading north of 6 per cent in 2015.
 UN World Economic Situation and Prospects 2014
(WESP) report projected India’s growth rate at less
than 5.3 per cent for this year.
ECONOMY
MARCH 2014
 The government has launched an exchange-traded
fund of central public sector enterprises, to raise 3,000
crore rupees for its disinvestment plan.
 Govt has decided to hike interest rates on fixed deposit
schemes offered by post offices by up to 0.2 per cent,
to 8.4 per cent, w.e.f. April 1, 2014.
FEBRUARY 2014
INTERIM BUDGET FOR 2014 – 15
HIGHLIGHTS
 Income tax rates kept unchanged;
 10 pc surcharge on 'super-rich' having annual income
above Rs. 1 Crore to continue;
 5 pc surcharge on corporates with turnover of Rs 10 cr.
 Defence allocation increased by 10 per cent to Rs 2.24
lakh crore;
 Moratorium on interest on student loans taken before
March 31, 2009; to benefit 9 lakh borrowers
 Rs 11,200 cr. to be infused as capital in PSU banks in
2014-15.
 Target for banks for credit to farm sector during 2014-
15 fixed at Rs. 8 Lakh Crore
 Disinvestment target for FY2014-15 fixed at Rs. 36,925
Cr; plus Rs. 3000 Crore by residual stake sale.
 Allocates Rs 1,000 Cr more to Nirbhaya Fund;
 Rs. 2,46,397 Crore for food, fertiliser and fuel subsidy.
KEY BUDGET FIGURES – 2014-15
BUDGET HEAD Rs in Cr
1 Revenue Receipts (2+3) 1167131
2 Tax Revenue (net to centre) 986417
3 Non-Tax Revenue 180714
4 Capital Receipts (5+6+7) 596083
5 Recoveries of Loans 10527
6 Other Receipts 56925
7 Borrowings and other liabilities 528631
8 Total Receipts (1+4) $
1763214
9 Non-Plan Expenditure (10+12) 1207892
10 On Revenue Account - of which, 1107781
11 Interest Payments 427011
12 On Capital Account 100111
13 Plan Expenditure (14+15) 555322
14 On Revenue Account 442273
15 On Capital Account 113049
16 Total Expenditure (9+13)(Budget Size) 1763214
17 Revenue Expenditure (10+14) 1550054
18 Of Which, Grants for creation of
Capital Assets
146581
19 Capital Expenditure (12+15) 213160
20 Revenue Deficit (17-1) 3.3% of GDP 382923
21 Effective Revenue Deficit (20-18) 1.8% of
GDP
236342
22 Fiscal Deficit {16-(1+5+6)} 4.8% of
GDP*
528631
23 Primary Deficit (22-11) 1.5% of GDP* 101620
*–GDP for 2014-2015 has been projected at `12839952
crore (Rs. 128.39 trillion)
GOVT HOUSE KEEPING (In %)
Rupee Comes From Rupee Goes To
Borrowings 25 Central Plan Outlay 10
Corporate Tax 21 Plan Asst. to State / UTs 16
Income Tax 14
Non Plan expenditure
State/UTs
03
Custom Duty 09 Non-Plan Expenditure 11
Excise Duty 10 States Share of Taxes 18
Service Tax 10 Interest Payments 20
Non-Tax Revenue 10 Defence 10
Non Debt Capital
Receipts
01 Subsidies 12
Total 100 Total 100
 ADB to give $ 605.2 million loan for road development
in the N E region, power distribution in Madhya Pradesh
and improvement of railways services in the country.
 India and Namibia have agreed for early conclusion of a
preferential trade agreement between New Delhi and
Southern African Customs Union (SACU)
 Govt plans to roll out electronic toll collection on all
national highways by December to streamline the toll
collection and reduce commuter hassle.

 The government has set a deadline for public transport
vehicles running in major cities with a population of
over 10 lakh to install GPS devices by Feb. 20, 2014.
 Government mopped up around Rs 61,141 crore from
the auction of 2G spectrum in the 900 MHz and 1,800
MHz bands of radio waves.
 Asian Development Bank to give a $300 million loan to
improve road connectivity along key corridors in
Chhattisgarh state.
JANUARY 2014
 Govt has approved setting up of the Amritsar-Kolkata
Industrial Corridor (AKIC) and formation of the AKIC
Development Corporation (AKICDC).
 India, Bangladesh, China and Myanmarwill to develop a
joint trade corridor from Kunming in China to Kolkata,
via Mandalay (Myanmar), Dhaka and Chittagong.
 The Foreign Investment Promotion Board has approved
UK-based Tesco Plc's proposal to enter the multi-brand
retail segment in jointly with a Tata Group company.
 After a 16-month gap, India and Pakistan resumed their
trade talks by announcing a series of steps, including
24x7 trade activity at the Attari-Wagah border.
 EPFO has decided to increase the rate of interest on
provident fund deposits from 8.5% at present to 8.75%
for 2013-14.
 South Korean steel giant Posco has won environmental
clearance to build Rs 52,000 crore steel plant in Odisha,
involving the largest-ever FDI in India.
 RBI to include 'Maintenance, Repairs and Overhaul’
(MRO) of aircrafts as part of airport infrastructure for
the purpose of external commercial borrowings (ECB).
 The World Bank to give $500 million loan for the Rural
Water Supply and Sanitation Project for Low Income
States (Assam, Bihar, Jharkhand and Uttar Pradesh).
 The ADB to provide $700 million loan under the
Accelerating Infrastructure Investment Facility in India
(AIIFI) to accelerate infrastructure growth.
 ADB to provide $100 million loan for the project --
Supporting Human Capital Development in Meghalaya
for vocational and educational training to youth.
 As per a UN report, India received $ 28 billion as FDI,
ranking 16th among the top 20 global economies
receiving the most FDI in 2013.
BANKING
MARCH 2014
 RBI has extended the timeline for full implementation
of the Basel III capital regulations by a year to March
31, 2019, instead of as on March 31, 2018.
 State Bank of India has launched a payment
intermediary christened as 'SBI ePay', which will
facilitate e-commerce or m-commerce transactions
among merchants and customers.
 SWIFT India, the domestic arm of the Society for
Worldwide Interbank Financial Telecommunication has
tied up with nine domestic banks to provide local
operations.
 RBI guidelines issued for forming Joint Lenders’ Forum
(JLF) and adoption of Corrective Action Plan (CAP) for
handling high value NPAs.
 Reserve Bank has extended the date for exchanging the
pre-2005 banknotes to January 01, 2015.
 Axis Bank has become first private sector bank to
introduce the "Kisan Card" through which a farmer can
withdraw up to Rs 1 lakh per day from ATMs.
 RBI to announce the Monetary Policy at bi-monthly
intervals from 1st
April, 2014 onwards.
FEBRUARY 2014
 RBI has allowed four companies for setting up and
operating White-Label ATMs (ATMs allowed to NBFCs).
 The country's first Post Office ATM was inaugurated at
Thiyagaraya Nagar Head Post Office (HPO), Chennai
 Bharatiya Mahila Bank (BMB) has tied with New India
Assurance Company to launch health insurance
products - BMB Sakhee, BMB-Nirbhaya and BMB-Parivar
Suraksha.
 NABARD has developed the concept called Joint Liability
Group (JLG) to provide institutional credit to small
farmers
 RBI has formed G Gopalakrishna committee to look into
capacity building and skill requirements at various levels
of banking and financial services
 The Reserve Bank has withdrawn from April 1, 2014,
the ceiling of 26% on the maximum interest rate that
the micro finance institutions (MFIs)
 The Reserve Bank has allowed banks to refinance
existing infrastructure project loans through take-out
financing agreements with any financial institution.
 IBA has cautioned banks to ensure business continuity
after Microsoft ends support for its Windows XP
operating system on April 8, 2014.
 HDFC Bank has launched its six basic banking
transactions through toll-free numbers.
 RBI has directed banks to provide credit data in a
revised format for all loan accounts of Rs. 5 crore or
more to the Central Repository of Information on Large
Credits-CRILC.
 Finance Minister has proposed to infuse Rs.11,200 crore
in public sector banks in the next financial year – 2014-
15 to enhance their capital.
 In a bonanza for farmers, the government has set an
agriculture credit target of Rs 8 lakh crore for the banks
for 2014-15.
 Govt. has advised that every old bank branch should
have ATM facility by March 31, 2014.
JANUARY 2014
 The Reserve Bank hiked the repo rate to 8% from
7.75% per annum w.e.f. 28th
Jan.
 RBI has advised that all banknotes issued prior to 2005
will be withdrawn after Jan 1, 2015 as they have lesser
security features compared to notes issued thereafter.

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