Ba Till Sept

8/10/2019 Ba Till Sept

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1)(RBI) 15 2014

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: SBI

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(13.6 ), (4.3 ) HDFC (3.5 ) SBI

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.

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.

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?.. (SEBI LIC )


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69

:

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?(SBI)

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.

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multi-currency international debit card)


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(MasterCard)

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.

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?


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:

(Economic Intelligence Council EIC)

-

.

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15

, SEBI 16 2014 ?

1,97,715.9

: (FIIs) 85,247

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2010

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67

1)

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1.5

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: ?

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(RuPay)


5/56


6/56


7/56

69

:

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(assessment officer)

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/

..

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, , , ,

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linked)

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(energy security)

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..


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10)

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17

62 -

:


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69

, -30

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MCX 15%

2014 MCX 2% 66

.


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5)(UPA)

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: 2014 (Natural

Gas Pricing Guidelines of 2014) .

.

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capitalisation) ? (TCS)

: 23 5

(dividend)

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tax) -(greenhouse-gas emissions)

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: 17 2014 32 39 -

2012 2013

-

25

-


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:

-

.

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(ICoAI)

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(Alvaro Garcia)

(Evo Morales)

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.

10)20 2014 100% ?

: 20 2014

100%


12/56


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69

: BEFI

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.

5)(UPA)

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:

2014 (Natural

Gas Pricing Guidelines of 2014) .


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.

6) 23 2014 5 (marketcapitalisation) ? (TCS)

: 23 5

(dividend)

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: 17 2014 32 39

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and Audit Rules)


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?

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?

: 20 2014

100%

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) 10


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69

57

1) (SBI) 10 2014 -

(overseas debt sale programme)

? 1.25 ( 75

- 205

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2014 )

.

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FDI) 2013

? ( SEBI

2013

FDI 4.37

3.31

FDI )

.

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(first global rupee bond programme)

? IFC( ..

-

)

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2005

ICP ?


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69

(PPP) (

(GDP)

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?

( 2013 139

)

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remittances from its migratory workforce) 2013

:

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(65 ))

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(Holcim) (Lafarge)(

(LafargeHolcim)


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69

44 90

)

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)

.

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4 ?

((BoA) 28

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(BCCI) IPL

? ( (HDFC)

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(ID proof)

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69

- (Foreign Transfer)

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( (CAD)

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)

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-


20/56


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69

? ( (Planning

Commission) (PMEAC)

2014 )

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(major economies) ?(

)

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?Uttarpara(

: 2,500 -

6

)


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69

64

) 26

2014

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), (10 ), HDFC (5 ), ICICI (40 ),

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(5 ), (10 ) (10 )


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69

RBI

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(Banco Espirito SantoBES)

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4 2014

2014

2020


24/56

69

..

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: :

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..


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69

10)2018 21?

Gold Coast City ()

: (Queensland)

4 15 2018 2011

1938 , 1962 , 1982 2006

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1)(RBI) 14 2014

ATM :5

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?1 2014

: , , , , 6

ATM 1 6

ATM ATM

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//(BSBDA)

.

2) (RBI) 6 2014 (ARCs)

(security receipts SRs)

?15%

: 5%

- (NPAs)

(asset reconstruction companiesARCs)

2013-14 ARCs

RBI


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69

ARCs

.

3) (RBI) 5 2014 -(Bi-Monthly Policy Review) (LAF)

(Repo Rate) :

(CRR)

? SLR ()

: 50 22.5%22% 9 2014

RBI -

8%

(CRR) 4%

(SLR) 0.5% 22%

.

4) - SEBI

? () , 2014 (The Securities Law (Amendment) Bill,2014)

: 6 2014 12

SEBI

SEBI ,

,

: SEBI


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69

SEBI

.

5) SEBI 10

2014

?

(REITs)(InvITs)

: 102014 2014-15

,

.

6)(WTO)

(Base Year)

2014

WTO ?1986-87

: 1986-87

2014-15

31

2014 2013

85

.


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69

7)SEBI 2014 (single

registration for stock brokers)

? - , ,

, , -

: SEBI /

/-

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.

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?5%

: 2014-15

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-(Go-India Card)

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-- 6-6 -70 20

10,000

.


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69

10) (SIA)

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?(Vistara)

: - 112014

-2014

Graph

1)(RBI) 18 2014 (Shadow Banking)

15-?. , RBI

: - (NBFCs)

:

RBI, SEBI,

(Central Economic Intelligence Bureau) (NHB)

.

2) 152014

?

: (financial inclusion)

15

5 1

7.5 2018


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69

(formal banking system)

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- (financial services provider)

()

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-

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Operating Officer COO)

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RBI RBI -


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69

.

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(CMD) RBI

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. RBI - ..

2014 .

6)20 2014

436

?(OBC)

:

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.

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(Onshore Indian Rupee Bond Programme)

? (InternationalFinance CorporationIFC)

: IFC :

IFC

5 2.5 - (rupee-


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69

denominated bonds) :

.

8) - 20 2014

?(Digital IndiaProject)

: 1

-

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(Ebiz) , -, , -, (NOFN)

,

- -,

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.

9)19 2014

? (Intensive Household Survey)

: - 10

. 1 2014

:

19

, :

14 2014


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69

.

10) SEBI 22 2014 - (NBFC) 5.85

?PACL

: (PACL) -

(NBFC) 2011-12 1533.5

-

56

1)(RBI) 2 2014

? IDFC Bandhan Financial Services Private Limited(

23 ,

25 /IDFC

, , , ,

, LIC , L&T

RBI

1997 IDFC (infrastructure)

2002

(micro finance institution) 4.5 )

2)3 2014 (RBI) -?.( - 2014


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- RBI

-4 - .. , ..

..

RBI )

3)1 2014 (Direct Taxes Code

DTC)

(HUF) ? 10 (

(super-rich category) )

4)1 2014 (DTC)

?35%

5)1 2014 (DTC)

(dividend income)

-(additional income tax) ?10%

6)(RBI) 12014 -

?RBI

(saving accounts)

(RBI

(basic savings bank deposit account)

)

7) (Axis Bank) 27 2014 24


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69

(RuPay)

?1998 (

1998

)

8) (SEBI) 29 2014

(Ponzi) :

SEBI ? 100

( 17 2014

,

)

9) (RBI) - (Basel III)

27 2014 31 2019

?31 2018(-

8% (capital adequacy ratio) 9%

11.5%

(regulation), (supervisory) (risk-management)

)

10) (Confederation of Indian Industry

CII) ?. .((DCM

Shriram) 2014-15 .

(Forbes Marshall) CII )

59


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1) -

(Bi-monthly Monetary Policy Review) 3 2014

8%

? Statutory Liquidity Ratio SLR(SLR 23% 50 22.50%

40,000

)

.

2)3 2014 -

75,000

? 1,25,000 ((2,00,000)

75,000

1,25,000

1,25,000

)

.

3)3 2014 -

( )

25,000

?10,000 ( 10,000 )

.

4)(Eurozone) 1912015

(Euro) ,

(European Commission) 4 2014 ? Lithuania(

12015

19


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2011 2014

)

.

5)(Kotak Mahindra Bank) (RBI)

2014

?40% (43.58%

40% 2012 RBI

45.21% 2018 20%

)

.

6) (market capitalization) 2014 4

?

1.5 $1.5 trillion(

(BRIC)

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(GDP) 0.79

207-08 2 )

.

7) (UPSE)

(SEBI)

30 2014 SEBI

100 UPSE UPSE ?

.

8) (International Financial

Services Centre IFSC) -


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?

-, (GIFT City)

(

,() , ()

3 2014

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886 2026 78,000

- 261

(SEZ) )

.

9)(UAE) (Al Hilal

Bank) (Finacle) -

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)

.

10) 8 2014

Getting India Back on Track: An Action Agenda For Reform

:

?,. (

(Carnegie Endowment for International Peace)

)

60

1)(SEBI) 17 2014

/ -(consultation paper)

(funding) ,


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69

-

:

?-Crowd-funding(SEBI -

10

-

SEBI )

..

2)(RBI) 17 2014

2014-15 (sector-wise disclosure)

RBI ? .

(

(Committee on Comprehensive Financial Services for Small Businesses and Low

Income Households) . (Dr. Nachiket Mor)

)

..

3) SEBI 19 2014

,

(ESOP)

SEBI (PSUs) (minimum public

holding) ?25%400 (

10%

25% 25%

)

..

4) 17 2014 The Banking and Economics Conclave

2014, ,

?- SBI(


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(IBA)

(Bancon) )

..5) (Tax Administration Reform

Commission TARC) 16 2014 1992

(Revenue

Secretary) 1992

(Tax Reforms Committee) -

. (.

1991

1993 : The Father of Tax

Reforms)

..

6)17 2014 -

-

: -, 2012

Delhi: A Kerosene-Free City Scheme, 2012(

62

-200

)

..

7) 2014

(WPI) 5- -

, 16 2014 6.01% ( 2014 5.20%

(Core inflation) 3.8% 3.4%

(Primary article inflation) 7.06% 8.58% (Food


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article inflation) 8.64% 2014 9.50%

-(Non-food article index) 1.5% )

..

8) (Vodafone) 20,000 2014

(Arbitrator) ? - ().. ,

(

.. (Vodafone International Holdings B.V.)

(Bilateral Investment Protection and

Promotion Agreement)

2007

(Hutchison Essar) (Hutchison Whampoa)

(capital gains tax) )

..

9)(RIL) 18 2014

40(AGM) -(e-voting)

- ?

31 2014(12015

-

--

)

..

10)

(AirAsia India) 12 2014


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69

?

(

(Indigo), (JetLite), (SpiceJet)

(GoAir)

, (Telestra Tradeplace)

)

..

61

1)

? Banking Codes

Standards Board of India BCSBI(BCSBI 2007 (RBI)

BCSBI 5

(information dissemination),

(transparency), - (customer-centricity),

(grievance redressal system) (customer feedback))

..

2)(SBI) 1 2014 -

6

5 , ,

(Touch branches)

SBI ?

sbiINTOUCH ( sbiINTOUCH

, , ,

SBI

)

..


43/56


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69

1 2004 2005 IDBI , IDBI

,IDBI )

..

6)2014 - 1

2

(household savings) 2012-13

(Savings Rate) 2007-08

?(GDP) 30% (2007-08 38% 80C, 80CC 80 CCC 1

(DTC) 1.5

)

..

7) 2014

(Planning Commission)

(control commission) ?

(Independent Evaluation Office IEO)( 2010 IEO

,

IEO

)

..

8)2014 (insurance on wheels)

(renewal) ?

(


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15 )

..

9) (delisting) SEBI

24 2014 ?AstraZeneca(

SEBI

2013

-- (OFS)

2004 2010 SEBI

BSE NSE

)

..

10)-(Amazon) 2014

(Infosys) -..

-

? Catamaran Ventures(

600 2010

(small and medium businesses)

)

JUNE-JULY

SBI launches sbiINTOUCH branches

State Bank of India (SBI) on 1 July 2014 launched six digital branches across the nationto serve tech-savvy customers. These branches are named sbiINTOUCH. One of suchbranches in Delhi was inaugurated on this day by Finance Minister Arun Jaitley. ThesesbiINTOUCH branches will include instant account opening with personalised debitcards, instant loan approvals for education, car and home and remote expert advisorsavailable via video links. The new branches will be located in malls and will be primarilyaimed at youth, who look for digital banking.


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The Banking and Economics Conclave 2014

The State Bank of India (SBI) organised The Banking and Economics Conclave 2014,a national level banking conclave, at Mumbai from 17 June 2014. The conclave wasorganised for the first time and was on the lines of Bancon, an event organised by

Indian Banks Association (IBA) each year. It was also the first time that a commercial

bank has organised an event of this magnitude.

RBI for sector-wise bank disclosures for advances

The Reserve Bank of India (RBI) on 17 June 2014 asked banks to make sector-wisedisclosure of their advances from 2014-15 onwards with a view to encourage them toactively manage exposure to various segments. This direction was based on therecommendations made by the Dr. Nachiket Mor Committee on ComprehensiveFinancial Services for Small Businesses and Low Income Households. This committeein its report had recommended that banks actively manage their exposures to various

sectors, including priority sectors.

IDBI celebrates Golden Jubilee

Public sector financial entity IDBI (formerly called Industrial Development Bank of India)celebrated its 50thanniversary (Golden Jubilee) during July 2014. IDBI was establishedin 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bankof India (RBI). In 1976, the ownership of IDBI was transferred to the Government ofIndia and it was made the principal financial institution for coordinating the activities ofinstitutions engaged in financing, promoting and developing industry in India. IDBIprovided financial assistance, both in rupee and foreign currencies, for green-fieldprojects as also for expansion, modernisation and diversification purposes. DuringSeptember 2004 the RBI incorporated IDBI as a scheduled bank under the RBI Act,1934. Consequently, IDBI, formally entered the portals of banking business as IDBI Ltd.from 1 October 2004. The commercial banking arm, IDBI BANK, was merged into IDBIin 2005.

BCSBI proposes to put performance ratings of banks in public domain

The performance ratings of banks operating in India would be put on the public domainfrom next year. Banking Codes Standards Board of India (BCSBI) would share this

information in public domain. BCSBI was set up as an independent and autonomousbody in 2007 by the Reserve Bank of India (RBI) to ensure that the common consumerof financial services from the banking industry gets what he/she has been promised.BCSBI is rating banks on customer services on five parameters informationdissemination, transparency, customer-centricity, grievance redressal system andcustomer feedback. Of the 48 banks rated for customer service, only five received highratings; 25 were rated above average; 17 average; and one below average. The ratings


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have been shared with the banks. The ratings were given based on a survey conductedby BCSBI across 69 cities, involving 3,000 branches and 6,000 customers.

Revival of Kisan Vikas Patra

The revival of the Kisan Vikas Patra (KVP) was announced in the Union Budget 2014-15 on 10 July 2014. The KVP was discontinued from November 2011 on therecommendation of the Shyamala Gopinath Committee.

TCS becomes first Indian company to cross Rs. 5 lakh crore market capitalization

Tata Consultancy Services (TCS) on 23 July 2014 became the first Indian company tocross market capitalization value of Rs. 5 lakh crore. TCSs market capitalizationcrossed 5 lakh crore mark on account of appreciation in the price of TCS scrip followinggood financial results and record dividend declaration by the company. State-held

ONGCs market cap of around Rs. 3.5 lakh crore is way behind that of TCS. It is worthmentioning that TCS market cap is more than the combined market cap of its nearestthree rivals Infosys (Rs 1.90 lakh crore), Wipro (Rs 1.39 lakh crore) and HCL Tech(Rs 1.07 lakh crore).

Kotak Mahindra Bank purchases 5% stake in MCX

Private sector bank Kotak Mahindra Bank agreed to buy a 15% stake in beleagueredMulti Commodity Exchange of India Ltd (MCX), announcement of which pushed thestock value of MCX by more than 10% on 21 July 2014. The commodity marketregulator, Forward Market Commission (FMC), had ordered MCX to reduce itspromoter- Financial Technologies (FTs) stake from 26 to 2% in December last yearafter FT was found not fit and proper to own stake in any exchange, following the NSELcrisis. However, since the promoter repeatedly missed the deadline for reducing itsstake, the regulator said it would not allow the exchange to issue any new contractsbeyond August, unless they did so.

TARC recommends abolishing the post of Revenue Secretary

The Tax Administration Reform Commission (TARC) headed by Parthasarathi Shome inits first report presented during June 2014 recommended abolishing the post of Finance

Secretary in the Ministry of Finance. It thus endorsed the recommendations given by theRaja J Chelliah Committee of 1992 for abolishing this post. Raja J Chelliah wasinstrumental in bringing about the early reforms to the direct taxation structure.

SEBI brings consultation paper in Crowd Funding


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The Securities and Exchange Board of India (SEBI) on 17 June 2014 came out with aconsultation paper on crowd funding, an alternative funding source to help start-upsstruggling to raise funds. Under this, funding (in small amounts) is sought from multipleinvestors through a web-based platform or a social networking site for a specific project,business venture or social cause. According to SEBIs consultation paper SEBI wants

the issue fund-raising capped at Rs. 10 crore a year for each start-up. Only nationalstock exchanges and SEBI-registered depositories are eligible to set up a crowd-funding platform.

IEO recommends scrapping Planning Commission

Independent Evaluation Office (IEO) in its report presented during June 2014,recommended that the Planning Commission should be replaced by a reforms andsolution body as it has exceeded the scope of its authority by acting as a controlcommission. IEO in its report stated that since the Planning Commission has defiedattempts to reform it to bring it in line with the needs of a modern economy and the

trend of empowering the States, it is proposed that the Planning Commission bereplaced.

Rangarajan Panel on studying the methodology of Tendulkar Committee

Rangarajan headed the committee on Tendulkar Committee methodology for estimatingpoverty, the report of which was submitted to Planning Commission on 1 July 2014. C.Rangarajan, the former chief of Prime Ministers Economic Advisory Council (PMEAC ),submitted the report to planning minister Rao Inderjit Singh. The Planning Commissionin May 2012 had constituted the expert group under the then PMEAC chairman C

Rangarajan to review the Tendulkar Committee methodology for estimating poverty,following an uproar over the number of poor in the country. The Planning Commissionsestimates had drawn flak in September, 2011 when in an affidavit to the Supreme Courtit was stated that households with per capita consumption of more than Rs. 32 in urbanareas and Rs. 26 in rural will not be treated as poor.

HR Khan re-appointed as RBI Deputy Governor

Harun Rashid Khan was re-appointed as the Deputy Governor of the Reserve Bank ofIndia (RBI) on 3 July 2014 by the Union Govt. The appointment was made for two yearswith effect from 4 July 2014 or until further orders, whichever is earlier. Khan wasappointed deputy governor in July 2011 for a three-year term, which was set to expireon 3 July.

CONCOR becomes 17thNavratna status company

PSU-company Container Corporation of India Limited (CONCOR) on 23 July 2014became the 17th Navratna status company. CONCOR is a PSU engaged in providing


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comprehensive logistics solutions. It has the largest network of 62 inland containerdepots (ICDs)/container freight stations in India. In addition to providing inland transportby rail for containers, it has also expanded to cover management of ports, air cargocomplexes and establishing cold-chain. The Government of India (GoI) holds 61.80%stake in CONCOR (as per the shareholding pattern as on 30 June 2014).

APRIL MAY

IDFC Limited and Bandhan Financial Services get banking licences

The Reserve Bank of India (RBI) on 2 April 2014 granted in-principle approval of banklicences to two entities IDFC Limited and Bandhan Financial Services Private Limited.These two firms pipped to post 23 other applicants, which included some well-knownfinancial and industrial houses like Muthoot Finance, Reliance Capital, Tata Sons, IFCI,Aditya Birla Nuvo, Bajaj Finserv, LIC Housing Finance, L&T Finance Holdings andShriram Capital. IDFC was established in 1997 and acts as a specialized financialintermediary for infrastructure projects. Bandhan Financial is Indias largest microfinance institution with over 4.5 lakh borrowers and was set up in 2002.

.

RBI issues its first-ever bi-monthly monetary policy statement

The Reserve Bank of India (RBI) issued its first-ever bi-monthly monetary policystatement on 1 April 2014. Before this the RBI was issuing quarterly monetary policyreviews. Bi-monthly reviews were started so as to have greater control over monetaryaspects of countrys economy.

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Gandhi appointed new RBI Deputy Governor

Gandhi was appointed as the new Deputy Governor of the Reserve Bank of India (RBI)on 3 April 2014. He was appointed by the Union Govt. for a period of three years. Theappointment followed Anand Sinha relinquishing his charge as Deputy Governor in mid-January 2014.

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Arvind Mayaram appointed Finance Secretary

The Union Govt. appointed Arvind Mayaram as the new Finance Secretary on 15 April2014. Before this he was the Economic Affairs Secretary. He replaced Sumit Bose who

retired on 31 March 2014.

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New Companies Act comes in force from 1 April 2014

The Companies Act, 2013 came into effect from 1 April 2014. It replaced theCompanies Act of 1956 which was being followed in the country for decades.Companies Act, 2013 is an Act of the Parliament of India which regulates incorporation


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of a company, responsibilities of a company, directors and dissolution of a company.The 2013 Act is divided into 29 chapters containing 470 clauses as against 658Sections in the Companies Act, 1956 and has 7 schedules. The President of India gavehis assent to this act during August 2013.

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IFC completes its first global rupee bond programme

The International Finance Corporation (IFC) on 11 April 2014 completed its first globalrupee bond programme worth $ 1 billion. Washington D.C. headquartered-IFCcompleted this huge issue in three rounds and the third and final round of bond issuetotalling Rs 12 billion (about $ 194 million) was completed on 11 April. Under its globalrupee bond programme, IFC has also issued three-year bonds totalling Rs 30 billionand five-year bonds totalling Rs 20 billion. This issue was launched to strengthen Indiascapital markets and attract greater foreign investment.

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RBI announces relief for loan takers

The Reserve Bank of India (RBI) on 7 May 2014 announced major relief for loan takersof housing, auto and personal loans by directing all the commercial banks not to levyany penalty on pre-payment of loans under floating rate scheme that cover housing,auto as well as personal loans. The RBI advised that banks will not be permitted tocharge foreclosure charges/ pre-payment penalties on all floating rate term loanssanctioned to individual borrowers, with immediate effect. Floating loan products includehousing, corporate, vehicle and personal loans. During 2012, RBI had barred banksfrom levying foreclosure charges or pre-payment penalties on home loans on floatinginterest rate basis.

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RBI issues guidelines for minor bank operators

The Reserve Bank of India (RBI) on 6 May 2014 issued the guidelines allowing minorsto operate bank accounts independently with a view to promote financial inclusion andbring uniformity in opening of such accounts in banks. In these guidelines it prescribed10 years as the age for minors to operate bank accounts. According to the guidelinesissued by the RBI, minors above 10 years of age can open and operate independentlysavings bank account and use other facilities like ATM and cheque books.

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First co-branded cricket credit card launched

IPL franchisee Delhi Daredevils during May 2014 launched a co-branded cricket creditcard in partnership with Ratnakar Bank Ltd, a private sector bank. This was the first timethat a commercial bank and a leading cricket franchise came together to launch a co-branded cricket credit card. The card brings to its cardholders exclusive privileges likemeeting and greeting the Delhi Daredevils team, personal and original memorabilia,coaching camps, free match tickets, talk shows, etc.


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1) Which public-sector bank declared Kingfisher Airlines, its promoter Vijay Mallya andthree directors as wilful defaulters on 1 September 2014, with which it became the firstbank to make such a declaration against Mallya? United Bank of India (UBI)

Explanation : Kolkata-based United Bank of India (UBI) is a part of the State Bank ofIndia-led consortium to have financed Kingfisher and has an exposure of around Rs.400 crore to it. A wilful defaulter tag means Mallya cannot be on the board of anycompany nor can he raise money from the public. He can also be subjected to criminalproceedings under Sections 403 and 425 of the IPC, dealing with misappropriation andfraud.

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2)The Law Ministry of India has opined that the Government of India has all the powersto print currency notes of Re. 1 denomination. Why the opinion of Law Ministry on this

issue was taken?The RBI was of the view that with the repeal of Section 2 of theCurrency Ordinance, the Government of India is not empowered to issue note ofdenominational value of one rupee

Explanation: Section 4 of the Coinage Act of 2011 provides that the centralgovernment may authorise minting of coin of denomination not higher than Rs. 1,000.The definition of coin in the Act makes it clear that Government of India one rupee noteis included in the definition of coin. The Law Ministry in its opinion stated that the Act,which consolidates the laws relating to coinage and the mints, does not bar theGovernment of India from printing one rupee notes. The printing of notes in thedenominations of Re. 1 and Rs. 2 has been discontinued as these denominations havebeen coinised. However, such notes issued earlier are still in circulation.

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3)NIFTY, the 50-scrip benchmark index of the National Stock Exchange (NSE) crossedwhich milestone mark for the first time on 1 September 2014?8,000 mark

Explanation: Nifty hit 8,000 level for the first time while Sensex hit a new high of26,900 on 1 September mainly due to positive GDP growth figures released recently.The CSO had estimated 5.7% GDP growth rate during the first quarter of 2014-15,which is the best quarter performance since March 2012.

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4)The Reserve Bank of India (RBI) cancelled licences of five non-banking financialcompanies (NBFCs) on 2 September 2014. These NBFCs include Unichem Finance &Enterprises Pvt., Shimansu Vyaparik Kendra Ltd., Shree Bhagwati Marketing PrivateLtd. and Sureka Teknik Private Limited. All these NBFCs are based in same city. Whichcity is this? Kolkata

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5)The Competition Commission of India (CCI) during September 2014 initiated aninvestigation against public sector general insurers and their association. The PSUinsurance companies against whom this investigation has been initiated include NewIndia Insurance, Oriental Insurance, United India Insurance and National Insurance, aswell as their combine, the General Insurers (Public Sector) Association of India

(GIPSA). What is the reason for this investigation? Alleged anti-competitivepractices relating to third-party administrators (TPAs) in health insurancecommitted by these companies

Explanation : The charges against these public general insurers are that they are not

allowing TPAs to function independently and have created in-house TPAs to settle anyclaims. It is also alleged that GIPSA, an ad hoc and unregistered body, was providing aplatform to the companies to share sensitive information with each other. This affectscompetition in the market and also provides space to them for exchanging informationregarding claims ratios, marketing efforts and terms and condition of TPAs, amongothers.

..6)The Union Government during September 2014 asked Expenditure Management

Commission (EMC) to suggest an effective strategy for meeting reasonable proportionof expenditure on services through user charges. The newly set up EMC will have toreview the major areas of Central Government expenditure and suggest ways forcreating fiscal space required to meet developmental expenditure needs. Who isheading EMC?Bimal Jalan(former RBI Governor)

Explanation: Bimal Jalan, who has been conferred with the status of a Union CabinetMinister, has been asked to design a framework to improve the operational efficiency ofexpenditures through focus on utilisation, targets and outcomes. Union govt. has asked

the EMC to review the fiscal responsibility and budget management (FRBM) rules tosuggest improvements for enforcing better fiscal discipline. The EMC, which will beheadquartered in New Delhi, will have to submit an interim report before Budget 2015-16.

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7)India has been ranked third in a list of countries most affected by online bankingmalware during the April-June quarter of 2014 as announced by security solutionsprovider Trend Micro on 6 September 2014. Which country has been ranked first in thislist?Japan

Explanation: Japan topped the list with the highest number of online banking malware

infections during the April-June quarter of 2014. In May alone, it saw 13,000 malwareinfections. Japan was followed by U.S. in this list which saw about 5,000 malwareinfections during the month, followed by India with 3,000 attacks. Growing Internetpenetration and rising popularity of online banking have made India a favourite amongcybercriminals, who target online financial transactions using malware. These and manysuch incidents show that cybercriminals will always adapt to new trends and situationswhether in the use of new malware or targeted attacks techniques to continue theirattacks.


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8)After being in business for seven years, Future Generali Life Insurance has reported

its maiden quarterly profit during the quarter ended 30 June 2014. Future Generali LifeInsurance is the part of which group? Future Group

Explanation: Future Generali Life Insurance is life insurance venture between KishoreBiyanis Future Group and Italian insurance company Generali.

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9)Barring a few, most of the life insurance companies have disclosed lower persistencyratios for the first quarter of the current fiscal ended 30 June 2014 as a lso for the fullfinancial year ended 31 March 2014. What is the reason for lower persistency ratio? A new standardised disclosure regime put in place for insurance sector

Explanation: The persistency ratio broadly measures the quantum of the customer

retention by the life insurance companies, while determining the percentage ofpolicyholders paying renewal premiums at the end of one year, or more yearsdepending on the tenure of the policy. However, persistency ratio has been one of themost abused financial metric by many insurers, who tend to disclose their best possiblepersistency ratios without following any standard formula or any specific time period.The insurance sector regulator IRDA earlier this year made changes in norms for suchdisclosures and put in place a standard formula to be followed by all companies inreporting their 13thmonth persistency ratios. An analysis of the disclosures made byvarious life insurers so far this year shows that there has been a marked decline in thehigh level of persistency reported earlier by many companies.

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10)What is the name of a deadly Trojan virus which hacks and steals personal credit

and debit card data and is prowling in the Indian cyberspace as announced on 3September 2014 by Indian cyber security watchdog CERT-In? Backoff

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1)What is the definition of affordable housing loans as announced by the Reserve Bankof India (RBI) on 15 July 2014? Rs. 50 lakh in metros and Rs. 40 lakh in non-metros, given by banks from the proceeds of long-term bonds (of minimum sevenyears maturity)

Explanation : This announcement was made by the RBI in a bid to boost the housing

sector. The RBI also announced that the cost of a house cannot exceed Rs. 65 lakh andRs. 50 lakh in the metros and non-metros, respectively, to qualify as affordable houses.There are six metros in the country: Mumbai, Chennai, Kolkata, Delhi, Hyderabad andBangalore. Under the current regulatory regime, loans given by banks to individuals up to Rs. 25 lakh in metros and Rs. 15 lakh in non-metros for purchase/construction ofa dwelling unit, per family, are considered as affordable housing loans. These loans fallunder the priority sector lending category for banks. The RBI said that it will periodically


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..

9)What is the name given to a dedicated TV channel for farmers that was announced in

the Union Budget for 2014-15 and Rs. 100 crore was set aside for its establishment? Kisan Television (Kisan TV)

..10) What GDP growth rate range for 2014-15 was estimated in the Economic Survey2013-14, which was tabled on 9 July 2014 in the Lok Sabha? 5.4 to 5.9%

Explanation: GDP growth slowed to below 5% for two consecutive years, i.e. 2012-13and 2013-14. The Economic Survey envisages a better performance during 2014-15 onaccount of growth in sectors like manufacturing and mining)

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11)What was the fiscal deficit for 2013-14, as disclosed in the Economic Survey 2013-14?4.5% of GDP

Explanation: Fiscal deficit is the difference between the governments expendituresand its revenues. An important factor in the increase in the Centres fiscal deficit after2008-09 has been the sharp increase in subsidies from 1.42% of GDP in 2007-08 to2.56% of GDP in 2012-13. For 2013-14 the subsidy bill is 2.26% of GDP.

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12)The panel headed by C. Rangarajan, former Chairman of PMEAC (Prime Ministers

Economic Advisory Council), has dismissed the Suresh Tendulkar Committee report onestimating poverty. The report submitted by Rangarajan to Planning Minister RaoInderjit Singh recently stated that the number of poor in India was much higher in 2011-12 at 29.5% of the population. What was the poverty figure stated for the same year inthe Suresh Tendulkar Committee report, which was severely criticized for its findings? 21.9% (According to the Rangarajan panel, poverty stood at 38.2% in 2009-10 and slidto 29.5% in 2011-12. This is at variance with the Tendulkar methodology under whichpoverty was estimated at 29.8% in 2009-10 and declined to 21.9% in 2011-12. Thisfinding of C. Rangarajan committee means that 3 out of 10 persons in India are poor.The Planning Commission in May 2012 had constituted the expert group under C.Rangarajan to review the Tendulkar Committee methodology for estimating poverty)

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13) Which state has the highest number of people below poverty line according to the

new definition of poverty that is part of the new poverty estimates that have been madeby a panel led by C. Rangarajan? Chhattisgarh

Explanation :According to these estimates 47.9% of Chhattisgarhs population isbelow poverty line. Chhattisgarh thus tops the list of states with the highest povertycount. On the other had just 6.3% of Goas population is below poverty line and it thus

tops the list of states with the lowest poverty count. On a national level, the C.Rangarajan committee report estimated the number of poor at 45.46 crore at 2011-12


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prices, which is much higher than the 35.47 crore estimate by the Suresh Tendulkarcommittee.

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14)What is the operating ratio of Indian Railways as announced in the Rail Budget

2014-15? 94 paise(This means 94 paise put of every Re 1 is utilized. So the surplusfor the railways is just 6%)

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15) In how many years Indian Railways would be made paperless as proposed in theRail Budget 2014-15? 5 years (Facilities like Mobile alerts for wake up calls, arrival

alerts and digital reservation charts at station have also been proposed)

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