GK Study Material For IBPS PO Mains

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GK Study Material For IBPS PO and Other Upcoming Exams
News Related with RBI/Banking and Finance
1. The Government of India signed a loan agreement with Asian Development Bank
(ADB) for US $123.51 million for tranche 3 of the Infrastructure Development
Investment Program for Tourism to continue upgrading tourism infrastructure and
services in Punjab, Uttarakhand and Himachal Pradesh.
2. The commodities regulator Forward Markets Commission (FMC) formally merged

with the securities market regulator SEBI in Mumbai. According to Finance Minister
Arun Jaitley, the ultimate objective of merging Forward Markets Commission (FMC)
with SEBI is to face the challenges posed by borderless market. Forward Markets
Commission (FMC) was established in 1953.
3. Union Finance Minister Arun Jaitley announced that government has set
disbursement target for micro and marginal businesses under MUDRA scheme during
the current fiscal at Rs. 1.22 lakh crore. MUDRA has been established as a subsidiary
of SIDBI with an initial corpus of Rs. 5,000 crore to provide capital to all banks
seeking refinancing of small business loans under Pradhan Mantri Mudra Yojana
(PMMY). PMMY loans fall into three categories Shishu (up to Rs. 50,000), Kishore
(Rs. 50,000-Rs. 5 lakh) and Tarun (Rs. 5-10 lakh).
4. Snapdeal, India's largest online marketplace in partnership with educational loans

specialists Credila - an HDFC group Company, has launched the country's first
customized education loans offering on an e-commerce platform. The partnership will
usher faster loan process. Customers will have the opportunity to avail exciting
benefits, like up to 100% finance of their education with no upper cap on loan and
easy EMI repayments at attractive rates of interest.
5. In its biggest ever fine, Securities Exchange Board of India (SEBI) imposed a
penalty of 7,269 crore rupees on PACL Ltd. and its four directors for illegal and
fraudulent mobilisation of funds from the public.
6. Ministry of Social Justice and Empowerment, signed a Memorandum of

Understanding (MoU) with the The New India Assurance Company Limited on
providing a comprehensive and affordable Health Insurance Scheme - Swavlamban
Health Insurance Scheme - for the Persons with Disabilities (PwDs). The scheme has
been designed to deliver comprehensive cover to the beneficiary as well as his family
(PwD, Spouse & up to two children), has a single premium across age band and can
be availed by PwDs aged between 18 years and 65 years with family annual income
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of less than Rs. 3,00,000 per annum. The scheme also ensures coverage of any pre-
existing condition and a health Insurance cover up to Rs. 2, 00,000 per annum as
family floater.
7. The Asian Development Bank (ADB) has lowered growth projections for India for
the current fiscal to 7.4 per cent, from the 7.8 per cent earlier due to weak monsoon,
poor external demand and inability of the government to push economic reforms in
Parliament. It has retained the consumer inflation forecast for India at 4 per cent (+/-
0.2 per cent).
8. The Central Board of Trustees of the Employees Provident Fund (EPF) has decided
to enhance the deposit linked Insurance benefit to 6 lakh rupees from the present 3
lakh 60 thousand.
9. Indian Bankers Chanda Kochhar and Arundhati Bhattacharya have been ranked as
top two in a list of most powerful women in Asia Pacific prepared by the global
magazine Fortune. Kochhar, 53, who heads the country's largest private sector lender
ICICI Bank has been ranked at the top, up from the second position last year. She is
followed by Arundhati Bhattacharya, the chairman of the country's largest lender
State Bank of India, whose ranking has also moved up from the fourth spot she was at
last year.
10. Reserve Bank of India inked an agreement with Nepal Rastra Bank on exchange
of supervisory information. The Reserve Bank of India signed the Memorandum of
Understanding (MoU) on 'Supervisory Cooperation and Exchange of Supervisory
Information' with the Nepal Rastra Bank (NRB).
11. Axis Bank launched LIME service. It is country's first mobile phone application
which is offering wallet, shopping, and payments and banking facilities.
12. The Union Cabinet allowed 100% FDI under the automatic route for white label
ATM operation. White labeled ATMs are set up by private non-bank companies that
own and operate their own brand of ATMs.
13. Union Cabinet approved a new Sovereign Gold Bond Scheme and also a Gold
Monetisation Scheme to incentivise people to park their gold assets in a paper format
and earn interest, while seeking to productively use vast amounts of this idle metal in
the economy. Under the gold bond scheme up to 500 grams worth of bonds per annum
can be bought by an individual with lock-in of five-seven years and appropriate
interest so that they are protected from volatility. The Gold Monetisation Scheme, also
approved, calls for people to deposit their gold with authorised agencies for a short-,

medium- or long-term periods, for which they will be given certificates of holding.
This will also bear interest. This has been done to replenish the Reserve Bank's gold
reserves.
14. Doha Bank has tied up with the Anil Ambani-led Reliance Group to generate
business opportunities in the Gulf Cooperation Council (GCC) nations and India.
15. Sri Lanka Central Bank has received 1.1 billion dollars from the Reserve Bank of
India under the currency swap agreement between the two reserve banks.
16. The Reserve Bank of India declared SBI and ICICI Bank as Domestic
Systemically Important Banks (D-SIBs), which literally means that these banks are so
integral to the national economy that their failure would have to be prevented at any
cost. While State Bank of India (SBI) is the largest public sector bank and the largest
banking entity in the country, ICICI Bank is the largest private sector bank in the
country.
17. Largest private lender ICICI Bank launched the country's first mortgage
guarantee-backed home loan product that will expand the credit amount and increase
the tenure for an additional fee as well.
18. Bandhan Bank began operations as a full-fledged lender across the country. It has
started operations with 1.43 crore accounts, a loan book of around Rs.10,500 crore
and 19,500 employees. To begin with, it has got 501 branches, 2022 service centres
and 50 ATMs across 24 states.Bandhan, which started as an NGO in 2001 and later
turned into a microfinance institute, is the first MFI to become a universal bank.
Chandra Shekhar Ghosh is the founder-MD and CEO of Bandhan Bank.
19. The Reserve Bank of India issued a notification, according to which banks can
extend loan repayment period up to 5 years in case 50% crop is damaged due to
natural calamities like drought and flood. However, if crop damage is 33%, the loan
repayment period can be extended up to 2 years, including one year of moratorium.
20. Union Finance Minister Arun Jaitley has launched two funds by Small Industries
Development Bank of India (SIDBI), a fund of funds with total corpus of Rs 12,000
crore. The funds are Rs 2,000-crore India Aspiration Fund (IAF) and SIDBI Make In
India Loan For Enterprises (SMILE) scheme with an investment size of Rs 10,000
crore.

21. The State Bank of India has launched its mobile wallet State Bank Buddy in
collaboration with Accenture and MasterCard. The mobile wallet app is available in
13 languages on Google Play Store.
22. The Life Insurance Corporation (LIC), the major player in the insurance sector
launched its new endowment plus ULIP product
23. The Prime Minister Narendra Modi launched a new campaign 'Start-up India,
Stand-up India' to promote bank financing for start-ups and offer incentives to boost
entrepreneurship and job creation.
24. Government appointed new heads in five Public Sector Banks. Bank of Baroda
(BoB) and Canara Bank have become the first public sector banks which will be
headed by private sector professionals. P.S. Jayakumar (53), who currently heads
realty firm VBHC Value Homes, has been appointed as the managing director & chief
executive officer of Bank of Baroda. MD and CEO of private sector lender Laxmi
Vilas Bank Rakesh Sharma (57) will head Canara Bank. M.O. Rego (Deputy
Managing Director, IDBI Bank), Kishore Kharat Piraji (Executive Director, Union
Bank of India), and Usha Ananthasubramanian (CMD, Bhartiya Mahila Bank) are the
new MD and CEOs of Bank of India, IDBI Bank and Punjab National Bank,
respectively.
25. The Reserve Bank of India paid a dividend of nearly Rs. 66,000 crore to the
government, the highest ever from the central bank in its 80-year history, and 22%
more than it paid last year.
26. The programme to pay cash subsidy to cooking gas LPG consumers has been
recognised by Guinness Book of World Records as the largest cash transfer
programme in the world. The Direct Benefit Transfer on LPG (DBTL), or Pratyaksha
Hastaantarit Laabh (PAHAL) scheme, was launched in 54 districts on November 15,
2014 and all over the country from January 1, 2015 with a view to provide subsidy to
the right beneficiary and to cut diversion and subsidised fuel being consumed by
unintended segments like restaurants and other commercial establishments.
27. The Insurance Regulatory and Development Authority of India (IRDAI) allowed
banks to tie up with insurance companies. This decision is taken on the basis of
'Bancasurance' guidelines soon to be notified. Prior to this decision no bank was
allowed to tie up with more than one insurance company.
28. In view of the forthcoming festival of Raksha Bandhan, a special enrolment drive,
Suraksha Bandhan, is being launched by participating banks and insurance

companies for enrolling bank account holders in Pradhan Mantri Suraksha Bima
Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
29. ICICI Bank has launched its Saral-Rural Housing Loan at base rate of 9.7 per
cent for borrowers from the rural areas.The loan would range from Rs. 5-15 lakh for a
period of 320 years and the loan could be up to 90 per cent of the property value.The
offer would be available in 189 cities across the country.
30. In a historic move, retirement fund body Employees' Provident Fund Organisation
(EPFO) kickstarted the process of investing in the stock market, with an initial corpus
of around Rs. 5,000 crore to be invested through Exchange Traded Funds (ETFs) in
the current fiscal.
31. Federal Bank launched Indias first Mobile App for Bank Account Opening in
Mumbai. Federal Bank has introduced this unique facility of Mobile based Bank
Account Opening as an upgrade to FedBook, its e-Passbook App, launched two years
ago.
32. Snapdeal, an online marketplace, and HDFC Bank launched a co-branded credit
card, 'Snapdeal HDFC Bank credit card' in partnership with Visa.
33. Kotak Mahindra Bank (KMB) launched Kotak Bharat, mobile banking app
primarily for un-banked regions. Kotak Bharat is the inclusive digital banking
app launched by KMB that is primarily targeted to benefit customers in the under-
banked and un-banked regions, who can access its services in their preferred
language.
34. BNP Paribas, a multi-national bank announced to acquire Indian retail brokerage
firm Sharekhan Limited. BNP Paribas is the leading French bank with worldwide
presence.
35. Reserve Bank of India (RBI) has decided to issue coins of 5 rupees denomination
to commemorate golden jubilee year of
Indo-Pak War 1965
36. The Reserve Bank of India (RBI) has granted in principle approval to 10 entities
to set up small finance banks to provide basic banking services to small farmers and
micro industries. The in-principle approval will enable these entities comply with the
guidelines on Small Finance Banks and will be valid for 18 months.

37. The Reserve Bank of India on Wednesday gave an in-principle nod to eleven
entities to launch a payments bankthe first set of differentiated bank licences to be
issued by the regulator.
The eleven companies include conglomerates and large telecom firms like Reliance
Industries Ltd, Aditya Birla Nuvo Ltd, Airtel M Commerce Services Ltd, Vodafone
m-pesa Ltd and Tech Mahindra Ltd.
38. RBI decided to issue 10 rupees coins to commemorate International Day of Yoga.
39. RBI permitted CBS-enabled Cooperative Banks to issue ATM cards in tie-up with
a sponsor bank.
40. Indian Bank Launches IndPay mobile app service -To enables its customers to
operate bank accounts anytime from anywhere
Current Rates of Monetary Policy

1. Bank Rate- 7.75%
2. Repo Rate- 6.75
3. Reverse Repo Rate- 5.75%
4. CRR- 4%
5. SLR- 21.5%
6. MSF- 7.75%
FDI Limits
Defence- 49
Pension-49
Insurance- 49
Print Media-26
Civil Aviation-49
Public Sec. Banks- 20
Private Sec. Banks- 74
Multi Brand- 51
Single Brand- 100
Tourism- 100
India's GDP Forecast

1. The World Bank has predicted a GDP growth rate of 7.5 per cent for India by 2015
2. Moodys, a global ratings agency, raised Indias rating outlook to positive from stable,
but retained the Baa3 rating. Predicts GDP growth at 7 percent
3. The Asian Development Bank projected India's growth rate to surpass China and improve to
7.4 per cent in next fiscal and further to 8.2 per cent in 2016-17.
5. Indias growth to reach 6.3 per cent in 2016:United Nations World Economic Situation and
Prospects (WESP)
6. Fitch expects real GDP growth to pick up to 7.4 per cent in 2015.

7. IMF projected GDP growth for India in 7.5% in 2015

8. RBI has lowered its FY 2015-16 GDP growth target to 7.4 percent from 7.6 percent.
9. Indias gross domestic product (GDP) is expected to grow at 7.5 per cent in 2015, a report
released by the United Nations Conference on Trade and Development (Unctad)
India ranking in different Indexes:

1. India ranks 119 on 2015 FM Global Resilience Index.
2. India ranked 143rd in Global Peace Index.
3. India is home to the highest number of hungry people in the world, at 194 million, surpassing
China, according to United Nations annual hunger report.
4. Indias consumer confidence score rose to 130 followed by Indonesia (123) and Philippines
(115).
5. India has emerged as the second-most trusted country in the world in terms of faith reposed on
its institutions. The list is topped by UAE with 84 per cent trust.
6. Corruption Index India ranked 85th among 175(Denmark topped) published by
Transparency International India (TII)
7.Ease of Doing Business" report - India ranked 142 among the 189 countries (Singapore top)
Published by World Bank
8. 5 Gender gap index 114 (Iceland top the list followed by Finland & Norway) Published by
World Economic Forum's 2015
9. Global Hunger Index Report 2014: 55 (Mauritius top followed by Thailand and Albania)
10. Human Development Index 2014 135 (Norway top followed by Australia).
11. Intellectual property (IP) environment 2015 29 (US ranked on the top, Thailand last)
12. World Press Freedom Index 2015 - 136 in the list of 180 countries
13. World's best countries for doing business 2014 134
14. Global Peace Index 2014 143 (Iceland top the list while Syria the most violent place)
15. Global Innovation Index 2014 - 76
16. Global Competitiveness Index 2014 -71 (Switzerland is the most competitive economy,
followed by Singapore).
Banking Terms
KYC (KNOW YOUR CUSTOMERS)

KYC is a term commonly used for customer identification process or these are the guidelines
issued by the RBI and SEBI for financial institutions. The intention behind the KYC is to check
the money laundering. For the mutual funds MIN (Mutual Fund Identification Number) is the
tool of KYC. For Demat Account Pan Card is essential and for band account-
Residential Proof
Identity Proof
Referee/Introducer
Signature Attestation
RTGS -Real time gross settlement is a fund transfer mechanism where transfer of money takes
place from one bank to another on a real time and on gross basis. This is the fastest possible

money transfer system through the banking channel. The RTGS system is primary for large
value transaction. The minimum amount is Rs. 2 Lakh and there is no upper ceiling for RTGS
transaction while the minimum and maximum stipulation has been fixed for EFT and NEFT.
NEFT -NEFT is nationwide fund transfer system to facilitate transfer of funds from any bank
branch to any other bank. As on Dec 29, 2007 34510 bank branches of 82 banks where the
member of NEFT system. The NEFT is an electronic fund system to transfer funds from any part
of country to any other part of country and work on net settlement.
There is no limit either minimum or maximum on the amount of funds that could be
transferred using NEFT. However, maximum amount per transaction is limited to Rs.50,000/- for
cash-based remittances and remittances to Nepal.
CBS - Core or centralized banking solution is a heart of banking system. This is a process by
which a bank has interconnect their maximum branches through wide area network and only this
system provide a facility of any branch or any time banking.
FINANCIAL INCLUSION
It is a delivery of banking services at an affordable cost to the vast section of disadvantage or low
income group or this is a facility provided by the banking sector to connect each and every
individual to the financial network
IFSC (Indian Financial System Code)-Indian Financial System Code is an alpha-numeric code
that uniquely identifies a bank-branch participating in the NEFT system.
ii. This is an 11 digit code with the first 4 alpha characters representing the bank, The 5th
character is 0 (zero).and the last 6 characters representing the bank branch.
iii. IFSC is used by the NEFT system to identify the originating / destination banks / branches
and also to route the messages appropriately to the concerned banks / branches.
MICR (Magnetic Ink Character Recognition): MICR stands for Magnetic Ink Character
Recognition. MICR Code is a 9 numeric digit code which uniquely identifies a bank branch
participating in the ECS Credit scheme. MICR code consists of 9 digits e.g 400229128
i. First 3 digits represent the city (400) ii. Next 3 digits represent the bank (229)
iii. Last 3 digits represent the branch (128)
Note: The MICR Code allotted to a bank branch is printed on the MICR band of cheque leaves
issued by bank branches
Base Rate-It is the minimum rate of interest that a bank is allowed to charge from its customers.
Unless mandated by the government, RBI rule stipulates that no bank can offer loans at a rate
lower than BR to any of its customers.
DeMat Account- DeMat is nothing but a dematerialized account. If one has to save money or
make cheque payments, then he/she needs to open a bank account. Similarly, one needs to open a
DeMat account if he/she wants to buy or sell stocks. Thus, DeMat account is similar to a bank
account wherein the actual money is being replaced by shares. In order to open a DeMat account,
one needs to approach the Depository Participants

RuPay is the Indian domestic card payment network set up by National Payments Corporation of
India (NPCI) at the behest of banks in India. The RuPay project had been conceived by Indian
Banks Association (IBA) and had the approval of Reserve Bank of India (RBI).
RuPay LogoNational Payments Corporation of India (NPCI) has a plan to provide a full range of
card payment services including the RuPay ATM, RuPay MicroATM, Debit, Prepaid and Credit
Cards which will be accepted in India and abroad, across various channels like POS, Internet,
IVR and mobile etc.
The initial focus of NPCI would be to approach those banks who have not been issuing any
payment card at all more specifically Regional Rural Banks (RRBs) and urban co-operative
banks.
Bancassurance stands for distribution of financial products particularly the insurance policies
(both the life and non-life), also called referral business, by banks as corporate agents, through
their branches located in different parts of the country.
Money laundering is the processes of concealing the source of obtain money. Money or funds
obtained through illegal activities are presented as legitimate
NPA- A classification used by financial institutions that refer to loans that are in jeopardy of
default. Once the borrower has failed to make interest or principal payments for 90 days the loan
is considered to be a non-performing asset.Also known as "non-performing loan".
Treasury bills (T-Bills) are the short term liabilities of the central government .theoretically
government of India issued three types of T-bills through auctions, namely 91 days, 182days,and
364 days .Minimum amount of T Bills is Rs. 25000and in multiple of RS. 25000
Commercial paper was introduced by RBI in 1991. It is a short term money market instrument
issued in the form of promissory note .Corporate; primary dealers and the all India financial
institution are eligible to issue CP. The maturity period of each commercial paper is 7days to
1year from the date of issue .CP can be issued denominations of Rs. 5lakh or multiples thereof.
Certificate Of Deposits (CDs) :- CDs are issued by Commercial banks and development
financial institutions. CDs are unsecured, negotiable promissory notes issued at a discount to the
face value. The scheme of CDs was introduced in 1989 by RBI. The main purpose was to enable
the commercial banks to raise funds from market. At present, the maturity period of CDs ranges
from 3 months to 1 year. They are issued in multiples of Rs. 25 lakh subject to a minimum size
of Rs. 1 crore. CDs can be issued at discount to face value. They are freely transferable but only
after the lock-in-period of 45 days after the date of issue.
Repo rate is the rate at which our banks borrow rupees from RBI. Whenever the banks have any
shortage of funds they can borrow it from RBI. A reduction in the repo rate will help banks to get
money at a cheaper rate. When the repo rate increases, borrowing from RBI becomes more
expensive
Reverse Repo Rate- This is exact opposite of Repo rate. Reverse Repo rate is the rate at which
Reserve Bank of India (RBI) borrows money from banks. RBI uses this tool when it feels there is

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too much money floating in the banking system. Banks are always happy to lend money to RBI
since their money is in safe hands with a good interest. An increase in Reverse repo rate can
cause the banks to transfer more funds to RBI due to this attractive interest rates.
Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with RBI. If RBI
decides to increase the percent of this, the available amount with the banks comes down. RBI is
using this method (increase of CRR rate), to drain out the excessive money from the banks.
Bank Rate-Bank rate, also referred to as the discount rate, is the rate of interest which a central
bank charges on the loans and advances that it extends to commercial banks and other financial
intermediaries. Changes in the bank rate are often used by central banks to control the money
supply.
Bitcoin is a consensus network that enables a new payment system and a completely digital
money. It is the first decentralized peer-to-peer payment network that is powered by its users
with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash
for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system
in existence.
SLR Rate- SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain
in the form of cash, or gold or govt. approved securities (Bonds) before providing credit to its
customers. SLR rate is determined and maintained by the RBI (Reserve Bank of India) in order
to control the expansion of bank credit. SLR is determined as the percentage of total demand and
percentage of time liabilities. Time Liabilities are the liabilities a commercial bank liable to pay
to the customers on their anytime demand. SLR is used to control inflation and propel growth.
Banking Ombudsman Scheme

The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank
customers for resolution of complaints relating to certain services rendered by banks
The Banking Ombudsman does not charge any fee for filing and resolving customers
complaints.
The amount, if any, to be paid by the bank to the complainant by way of compensation for any
loss suffered by the complainant is limited to the amount arising directly out of the act or
omission of the bank or Rs 10 lakhs, whichever is lower.
The Banking Ombudsman may award compensation not exceeding Rs 1 lakh to the complainant
only in the case of complaints relating to credit card operations for mental agony and harassment.
If a complaint is not settled by an agreement within a period of one month, the Banking
Ombudsman proceeds further to pass an award. Before passing an award, the Banking
Ombudsman provides reasonable opportunity to the complainant and the bank, to present their
case.
If one is not satisfied with the decision passed by the Banking Ombudsman, one can approach
the appellate authority against the Banking Ombudsmens decision. Appellate Authority is
vested with a Deputy Governor of the RBI.
If one is aggrieved by the decision, one may, within 30 days of the date of receipt of the award,
appeal against the award before the appellate authority.

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Deposit insurance and credit guarantee corporation (DICGC)
All commercial banks including branches of foreign banks functioning in India, local area banks
and regional rural banks are insured by the DICGC. Note: Primary cooperative societies are not
insured by the DICGC.
DICGC insure: DICGC protects bank deposits that are payable in India.
The DICGC insures all deposits such as savings, fixed, current, recurring, etc. except the
following types of deposits.
(i) Deposits of foreign Governments;
(ii) Deposits of Central/State Governments;
(iii)Inter-bank deposits;
(iv) Deposits of the State Land Development Banks with the State co-operative bank;
(v) Any amount due on account of any deposit received outside India
(vi) Any amount, which has been specifically exempted by the corporation with the previous
approval of Reserve Bank of India.
A Mutual Fund is the professionally manage firm of collective investments that pools money
from many investors in stock market, bonds, short term, money market instruments and in other
securities. In mutual fund is a fund manager who is also called Portfolio manager trades the fund
underlined Securities.
MORTGAGE
A Mortgage is a method of using property as a security for the performance of an obligation,
usually the payment of a debt. The term Mortgage refers to a legal device used for this purpose
and it is also commonly used to refer to a debt secure by the Mortgage.
FII- FII (Foreign Institutional Investor) used to denote an investor, mostly in the form of an
institution. An institution established outside India, which proposes to invest in Indian market, in
other words buying Indian stocks. FII's generally buy in large volumes which has an impact on
the stock markets. Institutional Investors includes pension funds, mutual funds, Insurance
Companies, Banks, etc.
FDI- FDI (Foreign Direct Investment) occurs with the purchase of the physical assets or a
significant amount of ownership (stock) of a company in another country in order to gain a
measure of management control (Or) A foreign company having a stake in a Indian Company.
Cheque Truncation:
i. Truncation is the process of stopping the flow of the physical cheque issued by a drawer at
some point with the presenting bank en-route to the drawee bank branch.
ii. In its place an electronic image of the cheque is transmitted to the drawee branch by the
clearing house, along with relevant information like data on the MICR band, date of
presentation, presenting bank, etc.
iii. Cheque Truncation speeds up the process of collection of cheques resulting in better service
to customers, reduces the scope for clearing-related frauds or loss of instruments in transit,
lowers the cost of collection of cheques, and removes reconciliation-related and logistics-related
problems, thus benefitting the system as a whole.

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Crossing on Cheque: Two parallel lines drawn on the top left corner of the cheque.
Account payee cheque: Account payee cheques can be routed only through accounts.
Post dated cheque: The date on the cheque beyond todays date then cheque becomes post
dated.
Stale cheque: Cheque is valid for 3 months. If the date on the cheque is before 3 months, then
the cheque becomes stale cheque.
Mutilated cheque: It is a damaged cheque.
At Par cheque: It is payable anywhere in India.
Multi city cheque: A cheque which is payable in any branch of a particular bank
Main Points of the BSBDA: i. An individual is eligible to have only one 'Basic Savings Bank
Deposit Account' in one bank.
ii. Holders of 'Basic Savings Bank Deposit Account' will not be eligible for opening any other
savings account in that bank. If a customer has any other existing savings account in that bank,
he / she will be required to close it within 30 days from the date of opening a 'Basic Savings
Bank Deposit Account'.
Note: While opening the BSBDA customers consent in writing be obtained that his existing
non-BSBDA Savings Banks accounts will be closed after 30 days of opening BSBDA and banks
are free to close such accounts after 30 days.
iii. One can have Term/Fixed Deposit, Recurring Deposit etc., accounts in the bank where one
holds 'Basic Savings Bank Deposit Account'.
iv. Banks are advised not to impose restrictions like age and income criteria of the individual for
opening BSBDA.
v. There is no requirement for any initial deposit for opening a BSBDA.
vi. Banks should offer the ATM Debit Cards free of charge and no Annual fee should be levied
on such Cards.
vii. In BSBDA, banks are required to provide free of charge minimum four withdrawals, through
ATMs and other mode including RTGS/NEFT/Clearing/Branch cash
withdrawal/transfer/internet debits/standing instructions/EMI etc
vii. The Uniform rate of interest rates set by individual banks are applicable on the domestic
savings deposit will be determined on the basis of end-of-day balance in the account.
viii. The normal saving bank account can be converted into BSBDA at the request of customer.
BSBDA-Small Accounts would be subject to the following conditions:

i. Total credits in such accounts should not exceed 1 lakh rupees in a year.
ii. Maximum balance in the account should not exceed 50,000 Rs at any time
iii. The total of debits by way of cash withdrawals and transfers will not exceed 10,000 rupees in
a month
iv. Foreign remittances cannot be credited to Small Accounts without completing normal KYC
formalities

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v. Small accounts are valid for a period of 12 months initially which may be extended by
another 12 months if the person provides proof of having applied for an Officially Valid
Document.
vi. Small Accounts can only be opened at CBS linked branches of banks or at such branches
where it is possible to manually monitor the fulfillments of the conditions.
Indian credit rating Companies

CRISIL - Credit Rating Information Services of India Limited, Headquarter- Mumbai
ICRA - Investment information and credit rating agency- gurgaon
CARE - Credit Analysis and Research Headquarters-Mumbai
ONICRA - Headquarter - Gurgaon, India
SMERA - Headquarters Mumbai
Fitch (India Ratings & Research) - Headquarters- Mumbai
Note: CRISIL is the largest credit rating agency in India
Headquarters of International Organisations
New York(USA) :
UNO-United nations organisation
UNICEF-United Nations International Children's Emergency Fund
UNFPA-United Nations Population Fund
Geneva(Switzerland) :
WHO-World health organisation
WTO-World trade organisation
UNCTAD-United Nations Conference on Trade and Development
WMO-World Meteorological Organisation
ICRC-International Committee of the Red Cross
Washington,DC(USA):
W for W---World bank
IMF-International Monetary Fund
Vienna(Austria) :
OPEC-Organization of the Petroleum Exporting Countries
UNIDO-United Nations Industrial Development Organization
IAEA-International Atomic Energy Agency
London(UK) :
IMO-International Maritime Organization
AI-Amnesty International
Commonwealth of Nations

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UNESCO-United Nations Educational, Scientific and Cultural Organization(PARIS-France)

SAARC-South Asian Association for Regional Cooperation(Kathmandu-Nepal)
ADB-Asian Development bank(Manila-Philippines)
ASEAN-Association of Southeast Asian Nations(Jakarta-Indonesia)
NATO-North Atlantic Treaty Organization(Brussels-Belgium)
APEC-Asia-Pacific Economic Cooperation(Singapore)
ICJ-International Court of Justice(Hague-Netherlands)
FAO-Food and Agriculture Organization(Rome)
Heads of Important Organisations
1. WTO - Roberto Azevedo- Geneva, Switzerland

2. WHO- Margrate Chan- Geneva, Switzerland
3. IMF- Christane Legarde- Washington, D.C., United States
4. World Bank- Jim Yong Kim- Washington, D.C.
5. RBI- Raghuram Govinda Rajan- Mumbai
6. SEBI-U.K. Sinha- Mumbai
7. NABARD- Harsh Kumar Bhanwala- Mumbai
8.Indian Army- General Bikram Singh
9. Indian Airforce-Arup Raha
10. Indian Navy- Admiral Robin K Dhowan
11. Asian development Bank- Takehiko Nakao- Manila , Philippines
12. Asian Infrastructure Investment Bank-Jin Liqun
13. BRICS Bank- K. V. Kamath
Thermal Power plants (TPS) in India:

1. Mundra TPS, Kutch, Gujarat
2. Vindhyachal TPS, Singrauli, Madhya Pradesh
3. Talcher Super TPS, Angul, Odisha
4. Sipat TPS, Bilaspur , Chhattisgarh
5. Korba Super TPS, Chattisgarh
6. Rihand TPS, Sonebhadra, Uttar Pradesh
7. Jharsuguda TPS, Odisha
8. Tiroda TPS, Maharashtra
9. Anpara TPS Uttar Pradesh
10. Barauni TPP Bihar
11. Bellary TPP Karnataka
12. Durgapur TPP West Bengal
13. Sikka TPS Gujarat
14. Satpura TPS Madhya Pradesh
15. Singrauli Super Thermal Power Station UP

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16. Wanakbori TPS Gujarat
Nuclear power plants in India:

- Narora, UP
Maharashtra (India & US)

ar atomic power plant - Gujarat
- Tamilnadu
- Karnataka
- Ratnagiri district in Maharashtra (India & France)
Important Wildlife Sanctuary in India

- Assam
- Assam
- Gujarat
- West Bengal
Sanctuary Kerala
- Madhya Pradesh
- Madhya Pradesh
- Rajasthan
- Rajasthan
- Rajasthan
a Wildlife Sanctuary - Rajasthan
Odissa
Odissa
Uttrakhand
Stock Exchanges and their Index:

1. BSE (Bombay Stock Exchange) - SENSEX (Sensitive Index)BSE is oldest stock exchange in
Asia located at Dalal Street in Mumbai. Sensex Consists of 30 companies.
2. NSE (National Stock Exchange) - Nifty-50-NSE is the largest stock exchange in India. Nifty
consists of 50 companies
3. NYSE ( Newyork Stock Exchange) - DJ (Dow Jones)-NYSE world's first and largest stock
market
4. ASDAQ (National association of securities dealers Automated Quotation System)- NASD-
100-NASDAQ is the firstelectronic stock market in the world located in New York.
4. Tokyo Stock Exhange ( Japan) - Nikkei-225
5. Korea Stock Exchange( Seoul, South korea) Kospi
6. Shenghai Stock Exchange( China)- Composite Index
7. Shenzen Stock Exchange( China)- Composite Index
8. German Stock Exchange- DAX( Deutscher Aktein Index)
9. Hong Kong Stock Exchange- Hang Seng
10. . SGX(Singapore Exchange)- STI (Straits Times Index)
11. LSE (London Stock exchange) or UK stock exchange-Footsie or FTSE-100 (Financial Times
and London Stock Exchange)

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RBI News
The Reserve Bank of India gave an in-principle nod to eleven entities to launch a payments
bankthe first set of differentiated bank licences to be issued by the regulator.
The eleven companies include conglomerates and large telecom firms like Reliance Industries
Ltd, Aditya Birla Nuvo Ltd, Airtel M Commerce Services Ltd, Vodafone m-pesa Ltd and Tech
Mahindra Ltd. The Department of Posts, Cholamandalam Distribution Services Ltd, FINO
PayTech Ltd, National Securities Depository Ltd, Dilip Shanghvi (promoter of Sun Pharma) and
Vijay Shekhar Sharma (promoter of Paytm) have also been granted licences.
Reserve Bank of India prohibited the Foreign Direct Investment (FDI) in manufacturing of
tobacco products, though activities such as retail and wholesale trading fall under the sectoral
restrictions.
The Reserve Bank of India (RBI) allowed mass transit system (MTS) operators like Mumbai
Metro, Delhi Metro, Indian Railways, etc. to issue pre-paid cards to their customer. This is
expected to provide a huge relief to the commuters who face problems while purchasing tickets.
RBI guidelines also say that the balance in the prepaid instrument issued by the MTS should not
exceed Rs. 2,000 at any point of time.
The Reserve Bank of India constituted a committee to work out a medium-term (five-year)
action plan for financial inclusion. The 14-member panel will be headed by RBI executive
director Deepak Mohanty. The Committee will work to spread the reach of financial services to
unbanked population.
The Reserve Bank of India signed a special currency swap agreement with the Central Bank of
Sri Lanka that will allow the latter to draw up to $1.1 billion. Under the arrangement, the Sri
Lankan bank can draw up to $1.1 billion for a maximum period of six months.
RBI has modulated PSL norms which stipulate that banks operating in India must offer 40% of
all loans to farmers, small entrepreneurs and so-called weaker sections of society.
The Reserve Bank of India (RBI) has extended the date to exchange pre-2005 bank notes till
December 31, 2015 for third time.
Business and Economy
1. Kumar Mangalam Birla led Aditya Birla Group has launched a new online fashion
store Abof.com. With this, the textiles and telecom conglomerate has entered into e-
commerce space which is considered as sunrise sector from an investment point of
view.Prashant Gupta is President and Chief Executive Officer (CEO) of abof.com and
it will remain a private and unlisted company. The fashion portal will target young
consumers with curated quality collection and will not provide discounts.

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2. Australian Government has given its approval for Adani Groups Carmichael coal
mine and rail project in accordance with environment laws of country. The approval
has been granted subject to 36 of the strictest conditions in Australian history.
3. The Union Cabinet has approved the MoU between the Taipei Economic and
Cultural Center (TECC) in India and India-Taipei Association (ITA) in Taipei.
Decision in this regard was taken at Union Cabinet Meeting chaired by Prime
Minister Narendra Modi in New Delhi.
4. Prime Minister Narendra Modi has laid the foundation stone of fourth terminal of
countrys largest container port Jawaharlal Nehru Port Trust (JNPT) in Mumbai.
5. British telecom giant Vodafone has the transfer pricing tax dispute case against
Indian Income Tax authorities after Bombay High Court ruled in its favour.
6. Internet Search engine giant Google has officially has converted into new parent
company Alphabet Inc. after US markets closed on 2 October 2015.
7. Nepal has turned to the United Nations over alleged obstruction of a key border
trade point with India which has resulted in acute shortage of essential goods.
8. Adani Ports and Special Economic Zone (APSEZ) has inked a Memorandum of
Understanding (MoU) with Larsen & Toubro (L&T) to oversee operations of
Kattupalli Port in Tamil Nadu. The non-binding MoU will empower L&T
Shipbuilding to manage and operate the port with an effect from October 2015. Under
this pact APSEZ will be responsible for EBIDTA gains and losses arising from the
port operation for this period.
9. India has been placed at 55th position on 2015 Global Competitiveness Index of the
worlds most competitive economies. It was published in Global Competitiveness
Report of World Economic Forum (WEF) which has assessed total 140 countries
10. Union Government has inked a loan agreement with Asian Development Bank
(ADB) for US 123.51 million dollars for Infrastructure Development Investment
Program. The 3 tranche loan will be used for upgrading tourism infrastructure and
services in three states Punjab, Uttarakhand and Himachal Pradesh.
11. Industrialist Mukesh Ambani has been named as Indias richest person for ninth
consecutive year in a row with a net worth of 18.9 billion dollars in the 2015 Forbes
magazines India rich list.

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12. Volkswagen Chief Executive Martin Winterkorn has resigned following the
revelation that the worlds largest carmaker (in terms of sales) had manipulated US
diesel car emissions tests
13. Telecom service provider Uninor has rebranded itself as Telenor in India. The
company also has changed its tag to Ab life full paisa vasool from Sabse Sasta.
14. Healthcare firm Practo has acquired has acquired hospital management software
firm Insta Health Solutions for 12 million dollars.
15. JK Tyre has signed a binding agreement with Kesoram Industries to acquire its
Haridwar unit. This agreement seeks to buy 100% equity in Kesoram Industries tyre
unit in Uttarakhand in a decal value of 2,200 crore rupees.
16. India and Belarus have set the bilateral trade target of one billion dollar by 2018.
The decision was taken at the Seventh Session of the India-Belarus Intergovernmental
Commission held in Minsk, Belarus.
17. Reliance Defence Ltd (RDL) led by Anil Ambani has inked memorandum of
understanding (MoU) with Abu Dhabi Ship Building (ADSB) to set up a strategic
partnership for construction of naval ships. The partnership will include construction
of frigates and destroyers to address the demands of Gulf Cooperation Council (GCC)
over the next 10 years.
18. State owed telecom service provider Bharat Sanchar Nigam Limited (BSNL) has
decided to upgrade Broadband speed to minimum 2 Mbps in the country.
19. Group of Twenty (G-20), a forum of worlds 20 largest economies, including

India launched Women-20 (W20), an engagement grouping of women leaders in order
to push for gender inclusive global economic growth.Gulden Turktan from Turkey has
been appointed as the first President W20 forum.
20. State-owned Oil and Natural Gas Corporation (ONGC) has bought a 15 per cent
stake in Russias second-largest oil field Vankor from Rosneft for about 1.35 billion
US dollars.
21. Union Government has notified the merger of commodities market regulator
Forward Markets Commission (FMC) with Securities Exchange Board of India
(SEBI) with an effect from 28 September 2015.

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22. Union Government has accepted Justice AP Shah Committee report on the
Minimum Alternative Tax (MAT) on foreign institutional investors (FIIs).
23. Union Government has released 2,000 crore rupees to Employees Pension
Scheme (EPS), 1995 as its contribution for the year 2015-16. This contribution is in
addition to the 250 crore rupees contributed by the government as grant-in-aid in the
EPS in order to provide minimum pension of 1,000 rupees to pensioners under the
scheme.
24. Indias largest power generator National Thermal Power Corporation (NTPC)
Limited has achieved a record of highest single-day electricity generation of over 733
million units.
25. India has lost solar case against United States at the World Trade Organisation
(WTO).
26. Union Government has approved six new proposals 6 Special Economic Zones
(SEZs) proposals including four from Information Technology and IT enabled Service
(ITeS) sector.The approved SEZ proposals are HCL IT City Lucknow- set up IT/ITeS
zones in Lucknow, Uttar Pradesh. Loma IT Park Developer- set up IT/ITeS zones in
Mumbai, Maharashtra. North Mumbai International Commodity Township- It is
proposed free trade warehousing zone in Thane, Maharashtra.
27. Union government has announced to sell 10 per cent stake in state owned Indian
Oil Corporation (IOC).
28. Video sharing portal YouTube has announced to set up a new YouTube Space
in Mumbai with Asias largest and most renowned film schools the Whistling Woods
International (WWI).
29. Bombay Stock Exchange (BSE) has extended the direct market access facility
(DMA) to foreign portfolio investors (FPI). Henceforth, the foreign investors will
have direct access to the exchange trading system in Indian stock market without any
manual interventions of the broker.
30. With an intention of curbing black money generation the government approved
signing and ratification of the Tax information exchange agreements between India
and Seychelles.

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31. Chinese personal computer and smartphone giant Lenovo has roped with
electronics contract manufacturer Flextronics to start manufacturing facility in
Sriperambudur, near Chennai.
Banking And Finance Related News

1. . Indias largest banking entity State Bank of India (SBI) launched a Mobile wallet application
dubbed as SBI Buddy.
2. ICICI Bank launched smart vault.
3. Dena Bank signed a Memorandum of Understanding (MoU) with Life Insurance Corporation
(LIC) of India to provide insurance cover to all Aadhaar-linked savings account holders of the
bank in the age group of 18 to 50 years.
4. PM Narendra Modi launched the Rs 20,000 cr Micro Units Development Refinance Agency
(MUDRA) Bank and said , the aim of the bank is to fund the unfunded small entrepreneurs
and to strengthen savings habit in the country.
5. IFCI Ltd has now become a state- owned firm with the government increasing its stake in the
infrastructure financing firm to 51.04 per cent.
6. The Reserve Bank notified government's decision to raise foreign direct investment (FDI)
limit in the insurance sector to 49 per cent from the present 26 percent.
7. IndusInd Bank entered into an agreement to acquire Royal Bank of Scotland's Diamond &
Jewellery Financing business in India and related deposit portfolio.
8. ICICI Bank in collaboration with Tech Mahindra launched a payment service Tap-n-Pay
based on the near-field communications (NFC) technology, enabling customers make over-the-
counter payments without using cash.
9. Bharatiya Mahila Bank Ltd has entered into MoUs with New India Assurance Company Ltd
and Life Insurance Corporation of India to provide insurance cover to its accountholders.
10. RBI has modulated PSL norms which stipulate that banks operating in India must offer 40%
of all loans to farmers, small entrepreneurs and so-called weaker sections of society.
11. Bank of India has partnered with insurance companies New India Assurance Co and Star
Union Dai-ichi Life Insurance to roll out the governments social security insurance schemes.
12. Bank of Baroda, a leading Indian public sector bank, has tied up with UAE Exchange to offer
an instant cash transfer facility to NRI customers.
13. Bharatiya Mahila Bank (BMB) has won The Asian Banker Achievement Award 2015.
14. The government has raised the limit of foreign direct investment in pension sector to 49 per
cent in line with the FDI cap in the insurance sector.
15. Corporation Bank and New India Assurance Company Ltd signed a memorandum of
understanding (MoU) for implementing Pradhan Mantri Suraksha Bima Yojana [PMSBY],
central government`s scheme to provide security against personal accidental risk and permanent
or partial disability.
16. Insurance Australia Group (IAG) has decided to increase its stake in State Bank of Indias
general insurance arm to 49 per cent from 26 per cent.
17. IndusInd Bank has agreed to buy Royal Bank of Scotlands diamond and jewellery financing
business in India.
18. Country's second largest private sector lender HDFC Bank launched '30-min auto' and '15-
min 2-wheeler' loan schemes, for which customers have to provide only their biometric details.
19. Private insurer Bajaj Allianz has launched a weather-based crop insurance scheme for orange

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crops in Nagpur, Hingoli and Washim districts of Maharashtra.
20. Government is likely to infuse additional USD 1.8 billion (about Rs 11,500 crore) in public
sector banks this fiscal.
21. HDFC Securities, a subsidiary of HDFC BankBSE -0.23 % has launched its mobile trading
app in 11 different regional languages.
22. The Reserve Bank of India (RBI) has extended the date to exchange pre-2005 bank notes till
December 31, 2015 for third time.
23. Export-Import (Exim) Bank has extended a line of credit of $268.35 million to Tanzania for
financing extension of Lake Victoria pipeline.
24. The Reserve Bank of India (RBI) issued the final guidelines for the 6-year and 13-year cash
settled Interest Rate Futures (IRF) on government securities with residual maturity of 4-8 years
and 11-15 years respectively under the Interest Rate Futures.
25. To help investors and companies in IPOs, SEBI halved the listing time to six days from the
date of the public offer and also allowed a larger number of firms to tap the fasttrack route
for raising funds.
26. India Brand Equity Foundation (IBEF) in the third week of June 2015 released a report on
Intellectual Property Rights (IPRs) filing in India during 2013-14. While Maharashtra topped the
list of states and Union Territories (UTs), Bengaluru was the top city in IPR filing.
27. Odisha State Co-op Bank launches Bank on Wheels.
28. The stock of Kaveri Seed Company will see some buying interest as the Reserve Bank of
India said foreign portfolio investors could now invest up to 49 per cent of the companys equity
base.
29. Bills for postpaid mobile service, piped gas and water supply can now be submitted as proof
of address for opening account with banks or other financial institutions.
30. Service tax increased to 14%.
31. RBI approves the merger of Kotak Mahindra-ING Vysya.
Highlights of the Union Budget 2015-16
Gross tax receipts of 14.49 lakh crore rupees

Non-planned expenditure was 1312200 crore rupees
Corporate tax was reduced to 25 percent over next four years from existing 30 percent
Defence allocation for fiscal 2015-16 is 246727 crore rupees
100 percent tax deduction for contribution to Swachh Bharat Fund
Service tax hiked by 14 percent
34699 crore rupees allocated for MNREGA, which is highest ever allocation to the programme
Yoga was included in the ambit of charitable purposes under the Income Tax Act
Custom duty on 22 items will be reduced
People will have to quote their PAN for all purchases above 1 lakh rupees
AIIMS will be set up in five states namely Jammu & Kashmir, Punjab, Tamil Nadu, Himachal
Pradesh and Assam
Centres for film production will be created in Arunachal Pradesh
Law under FEMA on capital account transactions will be amended
National skill development mission to be launched
By 2022 there is plan to produce 175000 MW renewable energy

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Visa on arrival extended to 150 countries
1000 crore rupees more allocated to Nirbhaya fund
Transport allowance increased to 1600 rupees per month
To increase clean energy cess of 220 rupees per tonne of coal
Online excise & service tax registrations in 2 working days
Wealth tax has been abolished, replaced by 2 percent on superrich
9000 crore rupees from additional 2 percent surcharge on the super rich
1008 crore rupees was collected under total wealth tax
GARR will be deferred by 2 years
Benami transactions in property deals will be curbed
7-year imprisonment for non-filing of return on foreign asset
300 percent penalty on concealing income
Undisclosed income to be taxed on maximum marginal rate
New law to tackle black money
Sovereign gold bond with fixed rate of interest will be developed
Gold monetization scheme will be introduced
Internationally competitive direct tax regime will be created
Public debt management agency will be created
5 ultra-mega power projects, each of 4000MW
To enable minority youth, a new scheme named Nayi Manzil will be started
Investment on infrastructure to go up by 70000 crore rupees
Integrated education and livelihood scheme for minorities were announced
New scheme for assisted living devices for BPL senior citizen
Senior citizens welfare fund will be created
Access to the formal credit system will be increased
Universal social security system will be created
Micro unit development finance unit MUDRA Bank will be created
25000 crore rupees allocated for rural infrastructure development fund
National unified market for farm produce will be created
5300 crore rupees allocated for micro irrigation and PMs irrigation scheme
Total transfer to the states will be 62 percent
Will Form A Monetary Policy Committee
At least 1 member of each family to have job by 2022
Electrification of remaining 20000 villages by 2020
GST will be rolled out on 1 April 2016
Railway Budget
Union minister Suresh Prabhu is presenting his first Rail Budget in the Lok Sabha. Here are the
highlights :
No increase in passenger fares
Passengers can book tickets 120 days in advance instead of 60 days which was available till
date
Outlay for passenger amenities increased by 67 percent
New train sets that can save 20 percent journey time will be introduced in future. These trains
will be similar to bullet trains in design but can run on the existing tracks
The speed passenger trains across nine corridors will be increased to 160-200 km from 110 km

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SMS alert will be introduced for train timings and under this passengers will be informed in
advance the updated arrival or departure time of the trains at starting or destination stations
Air-conditioned coaches for suburban trains will be introduced
Wi-fi will be available at 400 railway stations
Railways Intends to set up an Innovation Council called Kayakalp for Purpose of Business Re-
Engineering
Railways Proposes to set up Malaviya Chair for Railway Technology at IIT (BHU), Varanasi
Bidding system will be used for redevelopment of stations
10 satellite railway stations will be developed in 2015-16
800 km of gauge conversion will be commissioned
E-catering introduced in 108 trains can be accessed by ordering on IRCTC website
Water vending machines will be expanded on more stations
Onboard entertainment facility will be extended on Shatabdi trains
General class coaches will see introduction of mobile charging stations
For benefit of the common man, more general class coaches will be added to select trains
Pension funds, multi-lateral banks have evinced interest in Railways
Proposed the best operating ratio in nine years, of 88.5 per cent for 2015-16
Track capacity will be increased by 10 percent to 1.38 lakh kilometers
Feasibility report of high speed train between Mumbai and Ahmedabad is expected by mid-
2015
To ease private investment, wagon-making scheme will be reviewed
All India 24x7 grievances helpline 138 will be started
Bio-toilets will replace more than 7000 toilets, while 650 stations will get new toilets
Passenger travelling unreserved can produce a ticket within 5 minutes and for this purpose
Operation Five Minutes will be introduced
To address complaints of people Mobile application is being developed
Integrated tickets will be introduced
Hand-held devices will be introduced for ticket checkers; it is move towards paperless ticketing
In next 2 years, centrally managed railway display network will be introduced in over 2000
stations
Rail-cum-road ticket to be extended in many stations
Rail connectivity will be enhanced in North Eastern states
To aid expanding freight handling capacity and provide end-to-end logistic solutions, Transport
Logistic Corporation of India will be set up
PPP model will be used to augment resources and generate more employment
6608 kilometer of track will be electrified
96182 crrore rupees will be spent to expand capacity of 9420 km rail lines
For women safety, CCTVs will be introduced in selected trains and suburban trains
Train Protection Warning System and Train Collision Avoidance System will be installed on
select routes at the earliest
Projects for rail connectivity to many ports and mines
Foreign Rail Technology Cooperation Scheme will be launched in order to achieve the higher
quality service
Programme to improve design, quality and cleanliness of bed linen will be launched within the
next six months

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Recent Schemes of Union Government
1. Digital India Scheme-
Digital India is an initiative of Government of India to integrate the government departments and
the people of India. It aims at ensuring the government services are made available to citizens
electronically by reducing paperwork. The initiative also includes plan to connect rural areas
with high-speed internet networks. Digital India has three core components. These include:
The creation of digital infrastructure
Delivering services digitally
Digital literacy
9 Key points of Digital India Programme are as follow -
Broadband Highways
Universal Access to Phones
Public Internet Access Programme
e-Governance Reforming government through Technology
e-Kranti Electronic delivery of services
Information for All
Electronics Manufacturing Target NET ZERO Imports
IT for Jobs
Early Harvest Programmes
2. Skill India Mission-Prime Minister Narendra Modis launched ambitious Skill India mission
is expected to be a mass campaign involving the youth to encourage them to take up skilling and
vocational training to improve their employability.
The Skill India mission, which is being launched on the World Youth Skills Day, will also be
simultaneously launched by state governments.
The Pradhan Mantri Kaushal Vikas Yojana (PMKVY), the Ministrys flagship, demand-driven,
reward-based skill training scheme will incentivise skill training by providing financial rewards
to candidates who successfully complete approved skill training programmes. Over the next year,
PMKVY will skill 24 lakh youth, across India. For the first time, the skills of young people who
lack formal certification, such as workers in Indias vast unorganised sector, will be recognised.
Through an initiative known as Recognition of Prior Learning (RPL), 10 lakh youth will be
assessed and certified for the skills that they already possess.
Prime Minister also launched the Skill Loan scheme. Loans ranging from Rs 5,000-1.5 lakhs will
be made available to 34 lakh youth of India seeking to attend skill development programmes
over the next five years.Sanction letters for the first ever Skill Loans were handed out by the
Prime Minister to aspiring trainees.
3. School Nursery Yojana
Union Government launched the School Nursery Yojana, an initiative to bring students closer to
nature. The Yojana seeks to engage class VI to IX in raising of saplings in nurseries created in
schools. The Yojana was launched by Union Environment Minister Prakash Javadekar in New
Delhi. The underlying theme of the Yojana is to plant a tree for sustainable future and to make
the nation clean and green.

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Urging every student to plant a tree each, Javadekar said that every school must earmark space to
prepare a small nursery where the saplings could be planted.
4. PM launches smart cities, AMRUT, housing for all by 2022 schemes
Prime Minister Narendra Modi unveiled three mega flagship schemes aimed at developing cities
and towns as "new engines for growth".
The three projects -- 100 smart cities, Atal Mission for Rejuvenation and Urban Transformation
(AMRUT) and Housing for All - will ring in a new urban era, which will entail an investment of
over Rs 3 lakh crore in the next five years.
The prime minister also unveiled logo of the housing mission, which has his personal touch in
the finalisation of its design. Housing for All programme, now named as Pradhan Mantri Awas
Yojana (PMAY)
The main focus to launch this scheme is to provide Decent and affordable houses to transgender,
windows, low-income groups/SC communities. This inform of providing affordable house under
this PMAY is provided by official of Housing and Urban Poverty Alleviation Ministry.
Under this scheme Indian Government is planning to make approximately 22 crore Houses by
2022.
4. Deendayal Upadhyay Shramev Jayate Karyakram
Union government launched Deendayal Upadhyay Shramev Jayate Karyakram. The scheme is
aimed at creating conducive environment for industrial development and doing business with
ease.Besides, it will also herald towards good governance, welfare and skill development of
labour sector.
5. Namami Gange
Union Budget 2014-15 has taken cognizance of the substantial amount of money spent in the
conservation and improvement of the Ganga, which has a very special place in a collective
consciousness of this country. However, the efforts are not yielded desired results because of the
lack of concerted efforts by all the stakeholders.
Namami Gange Accordingly, an Integrated Ganga Conservation Mission called Namami

Gange has been proposed to be set up and a sum of Rs. 2,037 crores has been set aside for this
purpose. In addition a sum of Rs. 100 crores has been allocated for developments of Ghats and
beautification of River Fronts at Kedarnath, Haridwar, Kanpur, Varanasi, Allahabad, Patna and
Delhi in the current financial year.
6. Kisan Vikas Patra scheme

The Union Government relaunched Kisan Vikas Patra scheme (KVP) in New Delhi to encourage
the habit of small savings among the citizens.

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The scheme will soon be made available through designated branches of nationalized banks
across the country.
Highlights of the Kisan Vikas Patra scheme (KVP)
The scheme will provide facility of unlimited investment by way of purchase of certificate
from post office in various denominations.
The KVP will be available to the investors in the denomination of 1000, 5000, 10000 and
50000 rupees with no upper ceiling on investment.
The certificates can also be issued in single or joint names and can be transferred from one
person to any other person. The investment made in the certificate will double in 100 months.
The facility of transfer from one post office to another anywhere in India and of nomination
will also be available under the scheme.
Kisan Vikas Patra scheme has unique liquidity feature, where an investor can encash his
certificates after the lock-in period of 2 years and 6 months and thereafter in any block of six
months on pre-determined maturity value.
With a maturity period of 8 years 4 months, the collections under the scheme will be
available with the Union Government for a fairly long period to be utilized in financing
developmental plans of the Centre and State Governments.
7. Pradhan Mantri Jan Dhan Yojana

The government rolled out its ambitious financial inclusion programme, the Pradhan Mantri Jan
Dhan Yojana (PMJDY)
The programme is Prime Minister Narendra Modi's first blockbuster social upliftment scheme
and is aimed at improving the lives of millions of India's poor by bringing them into the financial
mainstream and freeing them from the clutches of usurious moneylenders, while giving them a
modicum of insurance cover.
The slogan for the Pradhanmantri Jan Dhan mission is expected to be Mera Khata
Bhagya Vidhaata which when translated into English means My Bank Account The
Creator of the Good Fortune:
Benefits under Yojana

Every individual who open a bank account becomes eligible to receive an accident insurance
cover of up-to 1 Lakh rupees for his entire family.
Moreover, an additional 30000 rupees life insurance cover will be provided for those opening
bank accounts before 26 January 2015.
Once the bank account became active for 6 months and being linked to account holders Aadhar
identity, they would become eligible for an overdraft of up to 2500 rupees, which would further
be enhanced by the bank to 5000 rupees over time.
The Jan Dhan Yojana also seeks to provide incentives to business and banking correspondents.
The banking correspondents act as link for the last mile between savings account holders and the
bank by fixing a minimum monthly remuneration of 5000 rupees.
The long term vision of the Jan Dhan Yojana is to lay the foundation of a cashless economy and
is complementary to the Digital India Scheme.
Accidental Insurance given by- HDFC ergo
Life Insurance by- LIC

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8. Swachh Bharat (Clean India) campaign
Prime Minister Narendra Modi on 2 October 2014 launched Swachh Bharat (Clean India)
campaign in New Delhi. The Swachh Bharat campaign was launched on the occasion of 145th
birth anniversary of Mahatma Gandhi and is aimed at making India clean by 2019, i.e. 150th
birth anniversary of Mahatma Gandhi.
On the occasion of launch of the campaign in Rajpath New Delhi, Modi administered an oath to
a large gathering to keep their neighbourhoods clean. He asked people to donate (Shramdaan)
100 hours every year or two hours every week for cleanliness. After administrating the oath, he
himself cleaned a police station and a scavengers colony, Valmiki Colony of New Delhi.
He nominated Sachin Tendulkar (retd. cricketer), Sashi Tharoor (Congress leader), Anil Ambani
(industrialist), Salman Khan, Priyanka Chopra, Kamal Hasan, Baba Ramdev, Mridula Sinha
(Governor of Goa) and the whole team of TV serial Taarak Mehta Ka Ooltah Chashmah. After
nominating people for accepting the challenge, he said that each of these nominated people can
nominate other nine people of their choice.
9. Pradhan Mantri Krishi Seenchayi Yojana

Pradhan Mantri Krishi Seenchayi Yojana was announced by Prime Minister Narendra Modi on
19 August 2014. The Yojna has been announced to meet the irrigation needs of all farmers
across the country. Sum of 1000 crore rupees has been allocated for implementation of the
scheme.
Modi announced the Yojna after laying the foundation stone for the four-laning of a 166
kilometer stretch of the Kaithal-Narwana-Barwala-Hisar-Siwani National Highway in Haryana.
The highway will be developed at an estimated cost of 1393 crore rupees and will be up to
Rajasthan Border.
10. Deen Dayal Upadhyaya Antyodaya Yojana

Union Government launched Deen Dayal Upadhyaya Antyodaya Yojana for urban and rural
poor
Deen Dayal Upadhyaya Antyodaya Yojana has two components one for urban India and other
for rural India.
The Urban component will be implemented by the Union Ministry of Housing & Urban Poverty
Alleviation. Rural component named as Deen Dayal Upadhyaya Grameen Kaushalya Yojana
will be implemented by the Union Ministry of Rural Development.
Main Highlights of the Urban Scheme
i. Imparting skills with an expenditure of 15000 rupees to 18000 rupees on each urban poor
ii. Enabling urban poor form Self-Help Groups for meeting financial and social needs with a
support of 10000 rupees per each group who would in turn would be helped with bank linkages.
Main Poins of the Rural Scheme
i. The Yojana aims at training 10 lakh (1 million) rural youths for jobs in three years, that is, by
2017.
ii. The minimum age for entry under the Yojana is 15 years compared to 18 years under the
Aajeevika Skills Programme.
iii. The skills imparted under the Yojana will now be benchmarked against international
standards and will complement the Prime Ministers Make In India campaign.

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11. Saansad Adarsh Gram Yojana (SAGY)
Prime Minister Narendra Modi launched Saansad Adarsh Gram Yojana (SAGY) on the birth
anniversary of Lok Nayak Jai Prakash Narayan on 11 October 2014. SAGY will be implemented
under the overall supervision of Union Ministry of Rural Development.
The programme is an ambitious village development project under which each Member of
Parliament will take the responsibility for developing physical and institutional infrastructure in
three villages by 2019.
The primary goal is to develop three Adarsh Grams or model villages by March 2019, of which
one would be achieved by 2016. Thereafter, five such Adarsh Grams (one per year) will be
selected and developed by 2024.
12. Deendayal Upadhyay Shramev Jayate

Deendayal Upadhyay Shramev Jayate programme to ensure labour reforms and also to ensure
transparency in the labour sector.
Under the scheme, the following new initiatives are provided:
Labours will be provided Unique Labour Identification number, Local Interconnect Network,
to facilitate their online registration.
Unified Labour Portal (Shram Suvidha) and a Transparent & Accountable Labour Inspection
Scheme to facilitate ease of compliance http://efilelaboutreturn.gov.in to facilitate ease of
compliance especially for four Central Government Organizations i.e. ESIC, EPFO, DGMS and
CLC.
Demand Responsive Vocational Training
Apprentice Protsahan Yojana
Portability through Universal Account Number for Employees Provident Fund Account
Holders
Implementation of Revamped Rashtriya Swasthya Bima Yojana (RSBY) for the workers in the
unorganized sector
Note: Launching another initiative called Labour Inspection Scheme to abolish inspector raj, the
Prime Minister said, a computerized list of inspections will be generated randomly for labour
inspectors. It will be mandatory for them to upload inspection reports within 72 hours
Financial Schemes
1) Pradhan Mantri Jeevan Jyoti Bima Yojana
Highlights of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY Scheme 2 for Life
Insurance) are:
Eligibility: Savings Bank (SB) Account holders between 18 years (completed) and 50 years.
Policy period: The cover shall be for one year period starting from June 1, 2015 to May 31, 2016
for which option to join / pay by auto-debit from the designated savings bank account on the
prescribed forms will be required to be given by May 31, 2015, extendable up to August 31,
2015.
Premium: Rs. 330 (per annum).

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Payment Mode: The premium will be directly auto-debited by the bank from the subscribers
savings bank account. This is the only mode available currently.
Risk Coverage: Sum Assured of Rs. 2 Lakh on death of the Insured member for any reason is
payable to the Nominee.
Termination of assurance: Account holder attains age of 55 years
Closure of account with the Bank or insufficiency of balance for debiting premium. In case of
multiple coverage under the scheme, the cover will be restricted to Rs.2 lakhs and other
insurance covers are terminated and premium shall be forfeited.
2) Pradhan Mantri Suraksha Bima Yojana Highlights of the Pradhan Mantri Suraksha Bima
Yojana (PMSBY Scheme 1 for Accidental Death Insurance) are: Eligibility: The savings
bank account holders of the participating Bank between 18 years (completed) and 70 years (age
nearer birthday) who give their consent to join / enable auto-debit, as per the modality, will be
enrolled into the scheme. Policy period: The cover shall be for one year period starting from 1st
June 2015 to 31st May 2016 for which option to join / pay by auto-debit from the designated
savings bank account on the prescribed forms will be required to be given by 31st May 2015 -
extendable up to 31st August, 2015. Premium: Rs. 12/- + service tax (per annum). Payment
Mode: The premium will be directly auto-debited by the bank from the subscribers account. This
is the only mode available. Risk Coverage: Total coverage (sum-insured) under the scheme is Rs.
2 Lakh.
3) BRIEF OF ATAL PENSION YOJANA
-16 budget.
The APY is focussed on all citizens in the unorganized sector.
Regulatory and Development Authority

(PFRDA) through NPS architecture. HIGHLIGHTS OF ATAL PENSION YOJANA
between Rs. 1000 and Rs. 5000 per month.
inimum pension would be guaranteed by the GoI.
-contribute 50% of the subscribers contribution or Rs. 1000 per annum,

whichever is lower. Government co-contribution is available for those who are not covered by
any Statutory Social Security Schemes and is not income tax payer.
-contribute to each eligible subscriber, for a period of 5 years who joins the scheme
between the period 1st June, 2015 to 31st December, 2015. The benefit of five years of
government Co-contribution under APY would not exceed 5 years for all subscribers including
migrated Swavalamban beneficiaries.

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(4) Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY)
PMKKKY is the name of the new scheme launched by the Union Govt. for the welfare of people
affected by mining related operations
PMKKKY is a new programme primarily meant to provide for the welfare of areas and people
affected by mining related operations. It will be implemented by using the funds generated by
District Mineral Foundations (DMFs). The Mines and Minerals (Development & Regulation)
Amendment Act, 2015, mandated the setting up of District Mineral Foundations (DMFs) in all
districts in the country affected by mining related operations.
The objective of PMKKKY scheme will be:
(a) To implement various developmental and welfare projects/programs in mining affected areas
that complement the existing ongoing schemes/projects of State and Central Government
(b) To minimize/mitigate the adverse impacts, during and after mining, on the environment,
health and socio-economics of people in mining districts and
(c) To ensure long-term sustainable livelihoods for the affected people in mining areas.
(5) One Rank One Pension (OROP)
The Union Govt. on 5 September 2015 announced the acceptance of the long-standing demand
of one rank, one pension (OROP) pertaining to the pensions of ex-servicemen. OROP would be
implemented with effect from 1 July 2014, and would cost the government Rs 18,000-22,000
crore this year. However, numerous proposals of the govt. were rejected by ex-servicemen, who
have staged an almost three-month-long public agitation for their demand of OROP. About the
exclusion from OROP of those who took premature retirement (PMR) major proposal of the
govt. was severely criticized by the ex-servicemen.
In simple terms, OROP implies uniform pension be paid to the armed forces personnel retiring in
the same rank with the same length of service, regardless of their date of retirement.
Key points of Union Govt.s OROP grant:
-yearly instalments
-10,000 crore

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rise in tandem with military salaries
-time payment of Rs. 10,000-12,000 crore
(6) Sovereign Gold Bonds Scheme
Union Cabinet approved Sovereign Gold Bonds Scheme to reduce dependence on physical gold
The Union Cabinet gave its approval for the Sovereign Gold Bonds Scheme. The purpose of the
scheme is to reduce the demand for physical gold and to shift part of the estimated 300 tons of
physical bars and coins purchased every year for investment into Demat (Dematerialised) gold
bonds.
Features of Sovereign Gold Bonds Scheme
be restricted to resident Indian entities and each entity cannot buy more than
500 grams per person per year.
denominations.
ty would be at a suitable level, not more than

500 grams per person per year.
rate for gold borrowing) as decided by the government.
the bonds will be payable in terms of grams of gold. The interest will be
calculated on 10000 at a certain per cent say 2 or 3 percent.
The tenor of the bond could be for a minimum of 5 to 7 years so that it would protect investors
from medium term volatility in the gold prices.
can be set equal to ordinary

gold loan mandated by RBI from time to time.

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7. Government launched education loan portal for students seeking loans
On 20 August 2015, Government launched a web-based portal www.vidyalakshmi.co.in for the

students seeking educational loans. In order to ensure that no student misses out on higher
education due to lack of funds, finance minister in the Union Budget for 2015-16 had proposed
to set a fully IT-based Student Financial Aid Authority.
In line with this proposal this portal was launched with an aim to administer and monitor
scholarship as well as educational loan schemes under the Pradhan Mantri Vidya Lakshmi
Karyakram (PMVLK). The launch of this portal also aims to bring all banks providing
educational loans under one roof.
SBI, Bank of India, IDBI Bank, Canara Bank & Union Bank of India have integrated their
system with the portal for providing loan processing status to students.
ABBREVIATIONS
PMKKKY: Pradhan Mantri Khanij Kshetra Kalyan Yojana
DMFs- District Mineral Foundations
MSOs- Multi System Operators
LCOs- Local Cable Operators
IIFT- Indian Institute of Foreign Trade
OROP- One Rank One Pension
CRIS- Centre for Railway Information Systems
PMJDY- Pradhan Mantri Jan-Dhan Yojana
RPBD- Regional Pravasi Bhartiya Divas
GDP- Gross Domestic Product
UNSC- United Nations Security Council
IGAD- Intergovernmental Authority on Development
W20- Women20
Ccotvm- Cash/Smart Card Operated Ticket Vending Machine

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IPDS- Integrated Power Development Scheme
FMC- Forward Markets Commission
NEFT- National Electronic Fund Transfer
SEBI- Securities and Exchange Board of India
KYC- Know Your Customer
SIDBI- Small Industries Development Bank of India
NBFC- Non Banking Finance Companies
BCSBI- Banking Codes and Standards Board of India
NABARD- National Bank for Agriculture and Rural Development
ALM- Asset Liability Management
IRDA- Insurance Regulatory and Development Authority
DSCR- Debt Service Coverage Ratio
NPV- Net Present Value
IRDA- Insurance Regulatory and Development Authority of India
CAR- Capital Adequacy Ratio
NSE- National Stock Exchange
CIBIL- Credit Information Bureau of India Limited
FCNR- Foreign Currency Non Resident Deposit Accounts
SLR- Statutory Liquidity Ratio
GDP Gross Domestic Product
INR- Indian Rupee
NHB National Housing Bank
ISO International Standards Organization

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ICICI =Industrial Credit and Investment Corporation of India
AFS Available For Sale
USD US Dollars
ATM Asynchronous Transfer Mode
CAG -Controller and Auditor General of India
DD -Demand Draft
FDI Foreign Direct Investment
BSCS- Basel Committee on Banking Supervision
SME- Small and Medium Industries
ASSOCHAM- Associated Chambers of Commerce and Industry of India
BOE- Bill of Exchange
MCA- Ministry Of Company Affairs
ICRA- Investment Information and Credit Rating Agency of India Limited
SHG- Self Help Group
NEFT- National Electronic Fund Transfer
SEBI- Securities and Exchange Board of India
KYC- Know Your Customer
LIC- Life Insurance Corporation of India
SIDBI- Small Industries Development Bank of India
BCSBI- Banking Codes and Standards Board of India
RBI- Reserve Bank of India

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KCC- Kisan Credit Card
RTGS- Real Time Gross Settlement
NRI- Non Resident Indian
LAMPS- Large Sized Adivasi Multipurpose Societies
NABARD- National Bank for Agriculture and Rural Development
EXIM bank- Export and Import Bank of India AMRUT Atal Mission for Rejuvenation and
Urban Transformation
APY - Atal Pension Yojana MRT Mitochondrial Replacement Therapy PMJJBY - Pradhan
Mantri Jeevan Jyoti Bima Yojana PMSBY - Pradhan Mantri Suraksha Bima Yojana PMAY-
Pradhan Mantri Awas Yojana UPI Unified Payment Interface Programme IRNSS Indian
Regional Navigation Satellite System
National and International News
Nation News
1. Prime Minister Narendra Modi laid the foundation stone of a world-class memorial
for constitution-maker Dr. Bhimrao Ambedkar at Indu Mill land in Dadar (Mumbai).
The proposed memorial would have a 40-feet-tall full-size statue of Dr. Babasaheb
Ambedkar along with a big stupa with 24 ribs denoting Dhammachakra. PM also
announced that from now 26 November will be celebrated as Samvidhaan Divas
(Constitution Day) every year.
2. To protect the endangered Gangetic river dolphins countrys first community

reserve for the mammal will soon be established in West Bengal.
3. Minister of State for Agriculture & Farmers' Welfare, Dr. Sanjeev Kumar Balyan
launched KISAN Project (C(K)rop Insurance using Space technology And
geoiNformatics) that seeks to speed up payment of crop insurance claims to farmers
and provide accurate assessment of crop damage. An Android-based app for
collection of data of hailstorm with assistance from ISRO to assess large-scale
damage to standing crops was also launched.
4. The Union Cabinet chaired by the Prime Minister Shri Narendra Modi, gave its
approval for setting up of three new All India Institutes of Medical Sciences (AllMS)
at Nagpur in Maharashtra, at Manglagiri in Andhra Pradesh and at Kalyani in West
Bengal under Pradhan Mantri Swasthya Suraksha Yojna (PMSSY).

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5. J.P. Nadda, Union Minister for Health & Family Welfare launched the second
phase of Mission Indradhanush in 352 districts. The aim of mission to achieve more
than 90% full immunization in the country by 2020.
6. Nitin Gadkari, the Union Minister of Shipping and Road Transport & Highways
chaired the first meeting of the National Sagarmala Apex Committee (NSAC) held in
New Delhi. The meeting was part of the ambitious Sagar Mala Project of the Union
Government. The main objective of this project is to develop 12 major ports and also
over 1,200 islands spread across the country so that they can contribute significantly
to Indias growth.
7. Tata Consultancy Services Ltd. (TCS) has been ranked as the most valuable
company in India in terms of market capitalization, according to the date released by
BSE. It is followed by Reliance Industries Ltd. (RIL). Infosys dethroned HDFC Bank
Ltd to become the third most valuable company in India.
8. Neyveli Lignite Corporation (NLC) has set up its first 10 MW solar power plant at
a cost of Rs. 74.60 crore at Neyveli, Cuddalore district, Tamil Nadu. This is the first
Renewable Energy project commissioned by the company.
9. Union Culture Minister Mahesh Sharma launched the NOC Online Application
Portal and Processing System (NOAPS) for the National Monument Authority
(NMA), Ministry of Culture in New Delhi.
10. Naval warship INS Kochi, the largest-ever warship built in India, was
commissioned at the Naval Dockyard in Mumbai. It is of 7,500-tonne. The strike
range of INS Kochi is 300 km and hit 50 targets simultaneously.
11. Maharashtra State Government announced popular Violinist and music composer
Prabhakar Jog as the winner of Lata Mangeshkar Award for Lifetime Achievement
(2015) for his contribution in the field of Music.
12. Nitin Gadkari, the Union Minister of Road Transport & Highways and Shipping,
launched the Green Highways (Plantation, Transplantation, Beautification &
Maintenance) Policy, 2015 in New Delhi. According to the provisions of the Green
Highways Policy 2015, about Rs. 1000 crore per year will be available for plantation
purpose on Highways by keeping aside 1% of the expenses for the construction of
highways.

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13. Government has decided to appoint NITI Aayog Vice-Chairman Arvind

Panagariya as the Sherpa for G-20 talks, replacing Railway Minister Suresh Prabhu.
The next G20 Leaders' Summit is scheduled on November 15-16 at Antalya in
Turkey.
14. Reliance Industries Limited (RIL) Chairman Mukesh Ambani has been named
India's richest for ninth year in a row with a net worth of $18.9 billion, while
ecommerce giant Flipkart's co-founders Sachin and Binni Bansal made their debut at
86th position on the 'India top 100 rich list' released by Forbes magazine. Ambani was
followed by Sun Pharma's Dilip Shanghvi as the second richest, while Wipro's Azim
Premji retained his third place. The combined wealth of India's 100 richest persons
remained largely unchanged at $345 billion, compared with $346 billion in 2014.
14. Rajasthan government passed first-of-its-kind of legislative bill that provides 14%
reservation (Reservation of Seats in Educational Institutes in the State and of
Appointments and Posts in Services under the State) for economically backward
classes (EBCs). According to Rajasthan Economically Backward Classes Bill 2015,
criterion for reservation in the EBC category will be purely economic and not caste-
based, enabling the poor among upper castes to be eligible for quotas in government
jobs and educational institutions.
15. Yudhvir Singh Malik, who presided over the ban of Nestl Indias Maggi noodles
as chief executive officer of the Food Safety and Standards Authority of India
(FSSAI), has been transferred to NITI Aayog as additional secretary
16. The Rajasthan Assembly passed the Rajasthan Special Backward Classes Bill,
2015 that provides 5% reservation (Reservation of Seats in Educational Institutes in
the State and of Appointments and Posts in Services under the State) quota for Gujjars
and some other communities under special backward classes (SBC).
17. India and the US have signed a significant MoU on energy security, climate
change and clean energy which reflects the commitment of the two countries to make
the Paris summit later this year a success. India's Foreign Minister Sushma Swaraj and
US Secretary of State John Kerry co-chaired the first India-US Strategic and
Commercial Dialogue at Washington. In a joint declaration issued in Washington
India and the US have agreed to increase their level of cooperation to fight the menace
of terrorism.
18. The Ministry of Women and Child Development has signed a Memorandum of
Understanding (MoU) with Vedanta to develop and modernise 4000 Anganwadis in
the country. Vedanta will build the next generation Anganwadi centres, for which

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they will commits Rs. 400cr. These anganwadi centres will be built in the states of
Andhra Pradesh, Assam, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra,
Odisha, Rajasthan, Telangana and Uttar Pradesh among others.
19. Union Government announced four brand ambassadors for Digital India
programme
List of Brand Ambassadors
1. Satwat Jagwani, All India IIT-JEE Advanced Topper -2015 (Student)
2. Krati Tiwari, All India IIT-JEE Advanced Girl Topper -2015 (Student)
3. Ankit Fadia, Author & Ethical Hacker
4. Pranav Mistry, Samsung USA (Computer Scientist & Author of 6th Sense)
20. Union Cabinet chaired by Prime Minister Narendra Modi gave 4 months extension
(up to 31 December 2015) to the 7th
Central Pay Commission.Justice Ashok Kumar Mathur is the Chairman of the
Commission
21. The Unique Identification Authority of India (UIDAI), which issues Aadhaar
cards to Indian citizens, has been shifted to the administrative control of the Ministry
of Communication and Information Technology from Niti Aayog, keeping in mind the
government's ambitious 'Digital India' programme as the Aadhaar numbers are being
linked with several services.
22. Prime Minister Narendra Modi launched the ambitious Integrated Power
Development Scheme (IPDS) on the occasion of his visit to Varanasi, his Lok Sabha
constituency. Integrated Power Development Scheme (IPDS) is one of the flagship
schemes of the Ministry of Power and will be at the core attempt to ensure 247
power for all by 2022. Rs. 45,000 crore will be spend on the scheme .
23. The Central Government announced the launch of the Pradhan Mantri Khanij
Kshetra Kalyan Yojana (PMKKKY). This is a new programme meant to provide for
the welfare of areas and people affected by mining related operations, using the funds
generated by District Mineral Foundations (DMFs).
The objective of PMKKKY scheme will be (a) to implement various developmental
and welfare projects/programs in mining affected areas; (b) to minimize/mitigate the
adverse impacts, during and after mining, on the environment, health and socio-
economics of people in mining districts; and (c) to ensure long-term sustainable
livelihoods for the affected people in mining areas.
24. Government launched three mobile based services -- a Mobile Application, SMS-
based UAN (Universal Account Number) Activation and Missed Call service -- for

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the Employees Provident Fund (EPF) members. The members would be able to
activate their UAN accounts from the comfort of their mobile phones and can also
access their accounts for viewing their monthly credits through the passbook as well
as view their details available with EPFO. This app can be downloaded from the
website. These services will help nearly 3.54 crore contributing members, 49.22 lakh
pensioners and 6.1 lakh employers.
25. In Madhya Pradesh, the state government has launched M-Shiksha-Mitra mobile
app to provide various services and teaching-related work to teachers in simple and
easy way. Madhya Pradesh is the first state to develop such an app for teachers.
26. In an ambitious bid to transform rural areas to economically, socially and

physically sustainable spaces, the Union Cabinet chaired by Prime Minister Narendra
Modi approved the Shyama Prasad Mukherji Rurban Mission (SPMRM) with an
outlay of Rs. 5142.08 crores. The Mission aims at development of rural growth
clusters which have latent potential for growth, in all States and UTs, which would
trigger overall development in the region.
27. Tamil Nadu state government announced making it mandatory for all high rise
buildings in the state to have solar power generation facility. Under it all new multi-
storey buildings (more than four floors) will have to establish solar power generation
facility. This is being seen as the first-of-its-kind initiative in urban solar power
plants.
28. Gujarat emerged as number 1 state in ease of doing business with 71.14%
according to World Bank report. Andhra Pradesh followed Gujarat with 70.12%.
Jharkhand is on the third place. Chhattisgarh and Madhya Pradesh are at 4th and 5th
spots, respectively. Arunachal Pradesh is ranked the last with 1.23%. This is World
Banks first ever ranking of States on the ease of doing business in India.
29. RailTel of the Indian Railways partnered with Google to provide free Wi-Fi
services under Project Nilgiri. Under this initiative, free Wi-Fi services will be
provided to passengers in 400 railway stations across the country.
30. The Centre has decided to provide additional 50 days of work to farmers in
drought-hit areas under Mahatma Gandhi National Rural Employment Guarantee Act
(MGNREGA) scheme. The decision was taken to provide relief to farmers in view of
the deficit monsoon in various parts of the country. At present, 100 days of work is
provided to rural job card holders under MGNREGA.

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31. Rajasthan has become the first state in the country to submit State Annual Action
Plan under Atal Mission for Rejuvenation and Urban Transformation (AMRUT)
targeting universal coverage in respect of water supply connections and sewerage
connections to all urban households in the state.
32. Prime Minister Narendra Modi launched a Hindi networking site, 'Mooshak'
envisaged on the lines of popular English social media platform Twitter in the 10th
World Hindi Conference.
33. In an important initiative, the Union Govt. set an ambitious literacy target to
achieve 100% literacy in villages adopted under the Sansad Adarsh Gram Yojana
(SAGY) by March 2016.
34. Andhra Pradesh Govt. created history by taking the first step to link two mighty
rivers of the state, Godavari and Krishna.
35. Haryana became the second in the country after Rajasthan to fix the minimum
educational qualification for elections to the Panchayati Raj institutions.
36. The government announced the implementation of the One Rank One Pension or
OROP for ex army servicemen. The base year of One Rank One Pension will be 2013.
Benefit of OROP will be given with effect from July 1, 2014. Arrears to be paid from
July 2014 and on 4-half-yearly basis. Pension will be revised after every 5 years.
37. Bengaluru has for the first time overtaken Mumbai in unsold housing units and
thus become the city with the second-highest residential real estate inventory
overhang after the National Capital Region.
38. Union Government identified 305 cities and towns spread across nine states of the
country for implementation of its ambitious Housing for All scheme under which
assistance of over Rs. 2 lakh crore would be provided over the next 6 years for
enabling two crore urban poor own their own houses. The selected cities and towns
are in Chhattisgarh (36 cities/towns), Gujarat (30), Jammu and Kashmir (19),
Jharkhand (15), Kerala (15), Madhya Pradesh (74), Odisha (42), Rajasthan (40) and
Telangana (34). Under Housing for All scheme, two crore houses are targeted to be
built for the poor in urban areas by year 2022, coinciding with 75 years of
Independence. Housing for All scheme was launched as Pradhan Mantri Awas
Yojana by Prime Minister Narendra Modi on 25 June 2015.

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39. Prime Minister Narendra Modi launched the digital version of Tulsidas's
'Ramcharitmanas'. This digital compilation of epic Ramcharitmanas has been done by
All India Radio (AIR).
40. Telecom Minister Ravi Shankar Prasad launched a new mobile app named Disha
to promote digital literacy in Bihar. The app aims to help people learn about
computers and Internet through self learning modules.
41. Dr. Najma Heptulla, the Union Minister for Minority Affairs launched a new
Central Sector Scheme Nai Manzil in Patna. The scheme Nai Manzil scheme will
address educational and livelihood needs of minority communities in general and
muslims in particular as it lags behind other minority communities in terms of
educational attainments. It is a new direction and a new goal for the all out of
school/dropped out students and those studying in Madrasas.
International News
1. Pakistan and Russia have signed a major agreement to build a 1,100-km North-
South gas pipeline from Lahore to Karachi.
2. United States has announced to extend its military presence in Afghanistan beyond
2016 as per shift in policy to further cooperate for fighting terrorists.
3. Myanmar government has signed a peace accord with eight of the 15 ethnic armed
minorities groups especially belonging to Kayin and Chin groups to end decades of
civil war.
4. China has operationalised the Zam Hydropower Station built on Brahmaputra River
which has raised concerns in India over the likelihood of disrupting water supplies of
River.
5. India has given a grant of five million US Dollars to Palestine as Budgetary

assistance. It was given Indian President Pranab Mukherjee to his is Palestinian
counterpart Mahmoud Abbas in Ramallah
6. The Parliament of Iran has passed a bill that allows the government to implement a
historic nuclear deal reached with world powers i.e. P5+1 countries.

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7. United Nations Security Council (UNSC) has adopted a resolution authorizing the
European Union (EU) and individual countries to use force to tackle the worst refugee
crisis.
8. Nepal Prime Minister Sushil Koirala has resigned from office by submitting his
resignation to President Ram Baran Yadav.
9. Islamic State (IS) militant group has destroyed part of historical Temple of Bel in
the ancient site of Palmyra in Syria.
10. Highest mountain of North America Mt McKinley renamed as Denali.
11. An Indian-origin driver in Australia, Tejinder Pal Singh was named as Australian
of the Day by Commonwealth Bank of Australia.
12. Queen Elizabeth II becomes Britains longest-reigning Monarch.
13. Supreme Court of Pakistan ordered immediate adoption of Urdu as official

language of the country.
14. Singapore's Prime Minister Lee Hsien Loong lauded the city-state's youth vote for
helping return his party, The PAP
(People's Action Party) to power in a massive victory for the 12th time.
15. Nepal's parliament has overwhelmingly approved a new constitution.
16. The US military has launched the largest NATO airborne drills dubbed as Swift
Response 15 since the end of the Cold War to enhance security and stability in the
European region.
17. Australian government appoints Adam Gilchrist ambassador to India - for

education.
18. The International Atomic Energy Agency (IAEA) and Kazakhstan have signed an
agreement to create the world's first internationally-controlled bank of low-enriched
uranium in Kazakhstan to ensure fuel supplies for power stations and prevent nuclear
proliferation.
19. Greece became first developed nation to default on IMF debt.

www.examguruadda.in
20. Champagne vineyards of France granted with World Heritage status by UNESCO.
21. Cuba became first country in the World to eliminate mother-to-child transmission
of HIV and Syphilis.
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