BestGuru Success Mantras 3 SBI Clerk Exam 2014

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    By

    RajeshGoyal*

    (Rajesh Goyal joined as Management Trainee (also called PO) in a nationalized Bank in 1980 and worked forover 30 years in banking sector, and took VRS from the post of Assistant General Manager. He is also the

    owner and editor of www.AllBankingSolutions.com - the most popular website among the serving andretired bankers )

    Success Mantras - Part 3 for SBI Clerk ExamAugust 2014

    (In This Part of the e-Magazine we have consolidated thematerial provided in Part 1 and Part 2 of Success Mantras

    and added new questions based on the trends in SBI Clerk

    Exams held on 19th/20th/26th / 27th July, 2014)

    Most ImportantYou Must Download

    (1)BestGurus Half Yearly Round-up (January to June2014) and memorized as much as possible.

    (2) Read the study material given in this BestGuru SuccessMantra e-Magazine.

    [Disclaimer:Weatbestguru.comhavetriedourbesttocompilethestudymaterial,whichis

    beingprovidedabsolutelyFREEofcost, fromvariousauthenticsources. However,

    candidates,incaseofdoubt,areadvisedtorecheckthesamefromtheirownsources. We

    willnotberesponsibleforanymistake/omissionforwhatsoeverreasons]

    http://www.bestguru.com/bestguru-half-year-g-k-round-january-june-2014/http://www.bestguru.com/bestguru-half-year-g-k-round-january-june-2014/http://www.bestguru.com/bestguru-half-year-g-k-round-january-june-2014/http://www.bestguru.com/bestguru-half-year-g-k-round-january-june-2014/
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    OverviewofSBIClerkExam2014

    (RepeatedfromPart1)

    I

    am

    sure

    you

    must

    have

    gone

    through

    the

    details

    as

    announced

    in

    the

    SBI

    Advertisement

    for

    this

    exam.

    You

    will

    be

    appearing

    in

    the

    SBI

    clerk

    exam

    2014

    in

    nextfewdaysastheprocessofissuingcalllettershasalreadystarted. Thus,now

    youhavelittleornotimeforpreparingfortheexamfromscratch. However,itis

    necessarytorecollectsomefactsaboutthisexam.

    State Bank of India Assistants in Clerical Cadre Selection Process is based on (a)

    Online Objective type Test and (b) Personal Interview.

    (A) Online Objective Type Test: Marks 200

    Time Duration:2 Hrs 15 min. We give below the details of the subjects covered,

    total questions and number of total marks for each subject for the forthcoming

    SBI Clerk Exam 2014

    Subject No of Questions Total Marks

    1. General Awareness 40 40

    2. General English 40 40

    3. Quantitative Aptitude 40 40

    4. Reasoning Ability 40

    40

    5. Marketing Aptitude / Computer

    Knowledge40 40

    Total 200 Qs 200 Marks

    For Marketing Aptitude / Computer Knowledge, there are likely to be 20 questions

    from each section;

    The questions in objective tests, except for the test of General English, will

    be bilingual i.e., English & Hindi. Each test will be of 40 marks. For theseobjective type tests of total 200 marks candidates will be given a composite

    time of 2 Hours 15 minutes.

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    There will be negative marks for wrong answers in the Objective tests.

    1/4th mark will be deducted for each wrong answer. Candidates will have to

    pass in each of the objective tests.

    The passing marks in each of the tests will be decided by the Bank on the

    basis of the performance of all the competing candidates taken together in

    each test to a minimum required level. Candidates are also required to score

    a minimum percentage marks on aggregate (For SC/ST/OBC/PWD/XS

    candidates, 5% relaxation available thereon) for being considered for

    interview. Minimum percentage marks on aggregate will be decided by the

    bank.

    Youmustkeepalltheaboverequirementsinmindwhileattemptingyourquestionpaper.Wegivebelowsomemoretipsforyourexam.

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    Tips

    for

    the

    Exam:

    (Repeated

    from

    Part

    1)

    TipsforBeforetheTest:

    Youshouldensurethatyouarewellrestedthenightbeforethe

    examandhaveasoundsleepIfpossible,dosomething

    relaxing!

    TipsforDuringtheTestPeriod

    Berelaxedduringthetestperiodastoomuchtensionmay

    preventyoufromthinkingclearly; Donotlookatthetimetoofrequentlyasthisreducesyourtime

    fordoingtheactualtest

    ForMultipleChoiceQuestion

    ReadeachquestioncarefullyandchoosetheBESTanswerfrom

    theoptionsgiven

    Ifaquestionistakingaverylongtime,goontothenextquestionandcomebacktotheoneyoumissedattheendofthetime

    Ifyouarenotsureoftheanswer,crossouttheoptionsyouknow

    arewrongandthendecidebetweenwhatisleft

    IfyouaredoingtheEnglishpaper,readthewholepassagebefore

    youstartansweringthequestions

    Makesureyoumarktheanswerscorrectlyintheonlinetest.

    Ensurethatyouhaveclickedontherightanswer

    TowardstheEndofthetest

    Attheendofthetesttime,checkifyouhaveleftoutany

    questionsandgivethematryagain

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    Banking and Financial Awareness:-

    You Must READ from the following Links

    You must attempt the following exercises and know theiranswers :

    Financial Awareness Exercise No. 002 on Whos Who of Financial Sector

    Financial Awareness Exercise No. 001 on Current Policy Rates

    Financial Awareness Exercise No. 704

    Financial Awareness Exercise No. 703

    Financial Awareness Exercise No. 702

    Financial Awareness Exercise No. 701

    You should check and memorize the latest policy Rates and Reserve Ratio

    from RBI Websites or http://www.allbankingsolutions.com/DATA.htm

    You should read the following study material andgrasp the concepts:

    Financial Awareness Study Material Part 5

    Financial Awareness Study Material Part 4

    Financial Awareness Study Material Part 3

    Financial Awareness Study Material Part 2

    Financial Awareness Study Material Part 1

    (A) http://www.bestguru.com/important-dates-days-

    celebrated-observed/

    (B) Must Read Last 15 Posts on www.bestguru.comwhich

    covers the current news including Commonwealth

    Games history; CWG 2014 and Performance of Indian

    players

    http://www.bestguru.com/latest-whos-who-quiz/http://www.bestguru.com/latest-policy-rates/http://www.bestguru.com/test-paper-financial-awareness-4/http://www.bestguru.com/test-paper-financial-awareness-3/http://www.bestguru.com/test-paper-financial-awareness-exercise-2/http://www.bestguru.com/606/http://www.allbankingsolutions.com/DATA.htmhttp://www.bestguru.com/financial-awareness-study-material-part-1-2/http://www.bestguru.com/financial-awareness-study-material-part-4/http://www.bestguru.com/financial-awareness-study-material-part-3/http://www.bestguru.com/financial-awareness-study-material-part-2/http://www.bestguru.com/financial-awareness-study-material-part-1/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/http://www.bestguru.com/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/financial-awareness-study-material-part-1/http://www.bestguru.com/financial-awareness-study-material-part-2/http://www.bestguru.com/financial-awareness-study-material-part-3/http://www.bestguru.com/financial-awareness-study-material-part-4/http://www.bestguru.com/financial-awareness-study-material-part-1-2/http://www.allbankingsolutions.com/DATA.htmhttp://www.bestguru.com/606/http://www.bestguru.com/test-paper-financial-awareness-exercise-2/http://www.bestguru.com/test-paper-financial-awareness-3/http://www.bestguru.com/test-paper-financial-awareness-4/http://www.bestguru.com/latest-policy-rates/http://www.bestguru.com/latest-whos-who-quiz/
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    162 QUESTIONSANDANSWERSBASEDONMCQsOFSBICLERKEXAMHELDON

    19TH/20TH/26TH/27THJULY,2014EXAMSExpectedQuestions/TopicsBased

    onTheseTrendsandHowtoPrepareforThem

    S.No. QuestionsAsked

    Answers

    Category of Qs Expected Questions Based onTrends

    1 PC standsfor ?

    PersonalComputer

    2 Full form ofASCII ?

    AmericanStandard Code forInformationInterchange

    3 IBSA fullform ?

    India, Brazil,South & Africa

    4 What is fullform ofCAG?

    Comptroller andAuditor General

    5 What is thefull form ofNVRAM ?

    Non VolatileRandom AcessMemory

    6 What is thefull form ofCBS?

    Core BankingSolutions

    7 PC standsfor ?

    PersonalComputer

    8 What is thefull form ofECB ?

    ExternalCommercialBorrowings

    9 What is theFull form ofCD-R?

    Compact Disc -Recordable

    10 What is thefull form ofCSO?

    Central StatisticalOrganisation

    11 What is thefull form ofCD?

    Compact Disc

    12 What is thefull form ofCBS?

    Core BankingSolution

    13 What is thefull form ofMIS infinancialsector?

    MarketingIntelligenceSystem

    AbbreviationsThe trend indicates thatquestions onabbreviations are (a)Current Affairs (b)Computers.

    Therefore, candidateshould memorize theabbreviations given in ourabove referred magazine

    so that he is prepared toanswer the questionsasked about abbreviationsin News.

    For computerabbreviations too youneed to memorize theabbreviations given at

    www.BestGuru.com

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    14 What is thefull form ofSWOT

    Strength,Weakness,Opportunity,Threats

    15 Whichaward isgiven to

    LeanderPaes andRuskinBond?

    Padma Bhushanaward

    16 Who is therecipient of49thJnanpith

    Award

    Kedar Nath Singh

    17 Who wasrecentlyhonoured

    with theDadasahebPhalke

    AcademyAward forBest Singer(Female)?

    Sunidhi Chauhan

    18 YorkUniversity,Canadagave awardto ?

    Ratan Tata

    Awards

    We have covered theawards quitecomprehensively in theabove magazine,therefore, you need tostudy these carefully. Inthe exam held on 27th and

    28th July, there appearsto be less focus on thisaspect, but this can not beignored

    19 Which ofthefollowingactivities isnot done byRBI?

    Trading incommodities

    20 Which ofthefollowing isnot a bank?

    IRDA

    21 Recently

    bankinglicense has

    been issuedto whichcompany?

    IDFC

    Banking

    The trend here indicatesthat questions on bankingare either based on thecurrent news relating to

    banking sector or arebased on the basicconcepts which aneducated person issupposed to know.

    For current banking news,please read our above

    referred magazine. Forsome of the bankingconcepts, please read thestudy material given at theend of these questions.

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    22 Whoamong thefollowing isRBI DeputyGovernor ?

    URJIT PATEL

    23 Which is

    theRegulatory

    AuthorityofCooperative banks &RRBs?

    NABARD

    24 Name thepresentChairman/Chairperson of SBI?

    ARUNDATIBHATTACHARYA

    25 How manylanguagesin Indiancurrency?

    17

    26 In shopsthe credit/Debit cardtransactions are donethrough

    whichmachine?

    POS

    27 Which cardis issued byNPCI?

    RuPay Card

    28 Who issuestheMonetarypolicy inIndia?

    RBI

    29 Commercial papersissued in

    what

    multiples?

    Rs.5 lakh ormultiples thereof

    30 Commercial Paper isissued forhow manydays ?

    A minimum of 7days and amaximum of up toone year from thedate of issue

    You should also updateyourself with the newsuploaded at

    www.bestguru.comin lastfew weeks.

    In case you are preparingfor even higher exam, youshould start reading thematerial from

    www.allbankingsolutions.com under the headingBanking Tutor

    http://www.bestguru.com/http://www.bestguru.com/
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    31 . Indiancurrencynotes beara signatureof ?

    RBI Governor

    32 In which

    year wasRBIestablished

    ?

    1935

    33 In whichyear wereBanksNationalization tookplace?

    1969

    34 Which toolis used by

    RBI toadjustLiquidity inthe bankingsystem?

    LAF (LiquidityAdjustment

    Facility)

    35 What is thevalidity of acheque?

    3 months

    36 Which isone of themajorfunctions

    of RBI

    Bankers Bank

    37 Which ofthefollowing isrelated tofinancialinclusion?

    BSBDA

    38 Which is anegotiableinstrument?

    Cheque

    39 Whosesignaturesappear on 1Rupeecurrencynotes

    Finance Secretary

    40 T- Bill whattypeinstrument

    Money marketinstruments

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    41 Whoheaded theCommitteeonComprehensive

    FinancialServices forSmallBusinessesand LowIncomeHouseholds?

    Nachiket MorCommittee

    42 Whoprovidesassistanceto small

    industries

    SIDBI

    43 Name theHumanResourceMinister ?

    Smitri Irani

    44 Who is theChairmanof BhartiyaMahilaBank?

    UshaAnanthasubramanium

    45 Who is theauthor of

    the bookMy Journey:Transforming Dreamsinto

    Actions?

    Former PresidentAPJ Abdul Kalam

    46 Who is theauthor ofthe bookSahara :The Untold

    Story ?

    TamalBandyopadhyay

    47 Casualvacancywritten by?

    J K Rowling

    48 Name thebook forwhich VijaySheshadri

    3 Sections

    BooksSee the chapter on booksand authors in the abovereferred magazine

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    has wonPulitzerprize ?

    49 What is the

    Capital ofBhutan?

    Thimphu

    50 What is theCapital ofMynamar?

    Naypyidaw

    51 Capital ofBrazil?

    Brasilia

    52 Name theCapital of

    Argentina?

    Buenos Aires

    53 Name theCapital ofCanada?

    Ottawa

    54 Name theCapital ofSweden?

    Stockholm

    Capital

    These capitals have beenin news.

    If possible try toremember as many capitalas possible from GK Bookor our website

    www.BestGuru.com.

    Some of the importantcapitals based on current

    affairs are Ukraine, Libya,Turkey, Brazil, Russia,South Africa, Israel,

    55 Which ofthefollowing isan Inputdevice?

    Light pen

    56 What is an

    Operatingsystem ?

    system software

    57 Which ofthefollowing isrelated toEmail?

    Attachment

    58 Two peopleshould belogged insimultaneously for

    what kindofsoftware?

    Instant messaging

    59 MS word isa type of?

    ApplicationSoftware

    60 Keyboardand ___ isan input

    Mouse

    Computer

    Study the computermaterial available at our

    websitewww.BestGuru.com whichcovers quitecomprehensively the

    topics that are usuallyasked in such type ofexams. There areregularly questions oninput and output devices.Therefore, be clear what isan input and what is anoutput device.

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    device

    61 MagneticDisk is ?

    Non Volatile

    62 What is a

    Linux ?

    Operating system

    63 Printer isan exampleof

    Output device

    64 Which ofthefollowing isanoperatingsystem?

    WINDOWS 2003

    65 What iswindow

    vista ?

    Operating System

    66 Devicesthatattached tocomputeroutside ?

    Peripheral devices

    67 What is thename ofChineseCurrency?

    Yuan

    68 What is thecurrency of

    Kuwait?

    Kuwaiti Dinar

    69 What is theCurrency of

    Afghanistan ?

    Afghani

    70 Name theCurrency ofMalaysia?

    Ringgit

    71 Currency ofItaly

    Euro

    72 Iraqcurrency? Dinar

    73 Which isthe officialCurrency ofIndonesia

    Indonesian Rupiah

    Currency

    If possible try to

    remember as manycurrencies as possiblefrom GK Book or our

    websitewww.BestGuru.com.

    Some of the importantcountries for whichcurrencies can be askedinclude Sri Lank,Bangladesh, Thailand,Russia, Japan, Brazil,

    Bhutan, Libya, Ukraine

    74 WorldAutism day?

    2nd AprilDay

    These should bememorized from theabove referred magazine

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    75 World aidsdaycelebratedon ?

    1st December

    76 On whichday is Army

    Flag Daycelebrated?

    7th December

    77 On whichdate isHumanRights Dayis observed?

    10thDecember

    78 WorldAutism day?

    2nd April

    79 World aidsdaycelebratedon ?

    1st December

    80 When isInternational Day forOld Personobserved

    1st October

    81 On whichday is

    WorldTourismDaycelebrated?

    27th September

    82 When isPressFreedomDayobserved?

    3rd May

    of BestGuru and other GKbooks / websitewww.bestguru.com

    http://www.bestguru.c

    om/important-dates-

    days-celebrated-

    observed/

    83 Definitionof Currentaccountdeficit?

    A measurement ofa country's tradein which the valueof goods andservices it importsexceeds the valueof goods andservices it exports

    Economics

    http://www.bestguru.com/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/
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    84 Which ofthefollowing isnot anindirecttax?

    10% surcharge onincome

    85 What areIntangibleassets?

    An asset that is notphysical in nature.Corporateintellectualproperty (itemssuch as patents,trademarks,copyrights,

    businessmethodologies),goodwill and

    brand recognition

    are allcommon intangible assets in today'smarketplace.

    86 . Budget inwhicharticle ?

    Article:112

    87 Who is theWaterResource

    Minister?

    Uma Bharti

    88 Who isthecurrentRoadTransport,HighwaysandShippingMinister ?

    Nitin Gadakari

    89 IndianOverseasminister?

    Sushma Swaraj

    90 Chemicalandfertilizercabinetminister?

    Ananth Kumar

    Ministers

    Usually such questionswere not asked in earlieryears but in view of totally

    cabinet, examiner hasasked questions on thistopic regularly.Therefore, we haveincluded this list in thismagazine itself.

    Examiner is also askingquestions on theconstituencies ofimportant leaders whohave recently won Lok

    Sabha elections. Someleaders whose Lok Sabhaconstituencies you should

    be aware are : PM,Rajnath Singh, L K

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    113 Name theMinister ofSocialJustice andEmpowerment?

    Thawar ChandGehlot

    120 Name theHealthMinister ofIndia

    Dr. HarshVardhan

    124 Who is theUnionCabinetMinister ofMicro,Small andMediumEnterprises

    ?

    Kalraj Mishra

    Advani, Murli ManoharJoshi, Sonia Gandhi,Rahul Gandhi, RaviShankar Prasad, KalrajMishra,

    91 Malaysia,truly Asiarelates to

    what?

    Tourism campaignof Malaysia

    92 Who is thefirst

    womandirector ofRelianceIndustries?

    Nita Ambani

    93 RIL &

    Network 18Deal has

    been struckfor whatamount (incrores)?

    4000 Crores

    94 Amul hasplans to setup Dairy

    worth 200cr in whichcity?

    Varanasi

    95 Why didIndia banthe importof MilkProductsfrom China

    India banned milkproducts formChina : due topresence ofmelamine, usedfor making plasticsand fertilizer

    News

    Read newspaperregularly. We have triedto cover the news items

    which we felt will beimportant from exampoint of view. However,the questions are askedfrom much wider field andthus you may refer tosome other magazines too,if you get time for the

    same.

    Regularly read theupdates given in

    www.bestguru.com

    http://www.bestguru.com/http://www.bestguru.com/
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    96 Nevia firstplant inIndia ?

    Sanand, Gujarat

    97 OPEC hashow much% of total

    oil ?

    81%

    98 Countryhaving leastglobalpeace index?

    Syria

    99 Headquarter ofInfosys?

    Bangalore

    100 Worldeconomicforum held

    in?

    Abuja (Nigeria)

    101 In whichstate Solarthermalpowerplant wasinstalledrecently ?

    Rajasthan

    102 Whichsouth eastorganisation has 10members?

    ASEAN

    103 SachinTendulkarcoins weresponsored

    by whichcompany?

    East IndiaCompany

    104 RecentlyNavaratnastatus givento?

    National BuildingConstructionCorporation &Engineers IndiaLtd (EIL)

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    105 In LoKSabhaelections ifanycandidate

    win two

    seats (likeour pm) soin whatduration oftime he hasto leave oneseat ?

    14 days

    106 Flipkartacquire

    whichonlineshop?

    Myntra.com

    107 Amul canbe relatedto whichrevolution?

    White revolution

    108 Bestranked IITamongBRICS topuniversities2014?

    IIT Delhi

    109 Beiji oil

    refinarylocated in ?

    Iraq

    110 Tata groupjoinedwhichairlines?

    Air Asia

    111 Name theplace

    whererecentlyHindustanMotor car

    plant wasshutdown?

    Uttarpara plant(West Bengal)

    112 Which statedontshares the

    border withTelangana?

    Jharkhand

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    114 Name theplace

    whererecentlyPMinaugurate

    d a hydropowerplant in J &K?

    Uri (J & K)

    115 Telanganais -----Stateof India?

    29th state of India

    116 Whichcountryfirst of allintroducedplastic

    notes?

    Australia

    117 A.RRahman isnow astreet namein whichcountry?

    Canada

    118 Japan hassea-conflict

    with whichcountry

    China

    119 Worlds

    highestrailwaytunnel?

    China (16.3-km-

    long tunnel linksGansu Provinceand Xinjiangprovinces. )

    121 Whichorganisation is forRural

    womenentrepreneurs ?

    FIWE (Federationof WomenEntrepreneurs)

    122 Which of

    thefollowing isnot trueaboutTelangna?

    Is divided on the

    linguistic basis.

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    123 Who isChairmanof theCauvery

    WaterDisputes

    Tribunal

    Justice B SChauhan

    125 Kaveririver waterdispute

    betweenwhichstates?

    Karnataka & TamilNadu

    126 CaproGroup has

    won theInternational Business

    Year of theaward isowned by

    Lord Swaraj Paul

    127 Where willbe the nextCommonwealth HeadsofGovernment Meeting2015,(CHOGM 2015)

    be held?

    Malta

    128 Whoinaugarated BhartiyaMahilaBank ?

    Manmohan Singh

    129 Where isCRISIL HQ?

    Mumbai

    130 Which istheConstituen

    cy of NitinGadkari?

    Nagpur

    131 What willbe thevenue for24-ASEANsummit to

    be held in

    Nay Pyi Taw

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    November,2014?

    132 Who is thecurrentFood &Consumer

    Affairsminister?

    Ram Vilas Paswan

    133 Name the150 kmmissilelaunched

    by DRDOrecently?

    Vidisha

    134 Azlan Shahwho diedrecently isa ?

    Hockey Player

    135 Head of SITCommittee?

    MB Shah

    136 Azlan Shahwho diedrecently isa ?

    Hockey Player

    Persons inNews

    137 Vijay

    HazareTrophy isassociated

    with whichsport?

    CRICKET

    138 FIBA isassociated

    with whichsport ?

    Basketball

    139 FIFA Worldcup-can betermed as

    what kindofmarketing?

    Event

    140 WIMBLEDONchampionship isassociated

    LAWN TENNIS

    Sports

    These questions can be

    divided into two parts : (a)Traditional Sports GK,

    which you shouldmemorize from our

    website bestguru.com orsome other good GK Book; (b) Sports News :

    The focus has been onFIFA World Cup. Be readyfor questions on FIFA

    world cup final results

    and special awards givento certain top rankedfootballers [These areavailable in the abovereferred magazine}

    Now focus is also likely toshift to CWG 2014 games

    being held in Glosgow.

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    with whichsports?

    141 FIBA is

    associatedwith whichsport ?

    Basketball

    142 Who isRichestPlayer inFIFA ?

    Cristiano Ronaldo

    143 Who didhat trickgoal in foot

    ball worldcup?

    Thomas Muller(Germany) scorefirst hattrick of theFIFA World CupTournament

    144 FIFA 2014MascotName?

    Fuleco (The nameFuleco is aportmanteau ofthe words"Futebol"("Football") and"Ecologia"("Ecology").)

    145 Who win 3medals in

    ISSF worldcup inMunich?

    Jitu Rai

    146 Ashestrophy isplayed

    betweenwhich twocountries?

    Australia andEngland

    147 Gillette Cupisassociated

    with whichsports?

    Cricket

    148 In whichcity thenextCommonwealth Gamesof 2018 will

    be held ?

    Gold Coast City,Queensland,

    Australia

    Atwww.bestguru.comwehave covered these gamesquite in depth. There arefour articles which youmust read from the latestposts.

    http://www.bestguru.com/http://www.bestguru.com/
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    149 Who is thewinner ofAustralianGrandPrix?

    Nico Rosberg

    150 Night

    blindness iscaused duetodeficiencyof which

    Vitamin?

    Vitamin A

    151 Name thestate whichhas beenhighestruralpopulation

    as perCensus2011 ?

    Uttar Pradesh

    152 A SchemenamedRajivGandhiScheme forEmpowerment of

    AdolescentGirls is also

    known as?

    SABLA

    153 Kanyakumariformerlyknown as ?

    Cape Comorin

    154 Salarjungmuseumlocated in

    which state?

    Hyderabad,Telangana

    155 Which statehas highest

    urbanpopulationin india?

    Maharashtra

    156 Whichorganization collectsand publishfinancial

    National SampleSurveyOrganisation

    Traditional GK

    This is a vast subject and

    nobody can predictanything from this topic.Therefore, do not wastetoo much time andattempt your questions

    based on what you havestudied upto now.

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    data?

    157 Study ofkidneydiseasescomesunder

    whichmedical

    branch?

    Nephrology

    158 WhichIndia statehas thehighest per

    capita milkavailability?

    Punjab

    159 Camel isthe officialanimal of

    whichstate?

    Rajasthan

    160 Whichdevice isused tomeasure

    bloodpressure ?

    Sphygmomanometer

    161 Nilgiris islocated in

    whichstate?

    Tamil Nadu

    162 Name theindigenousl

    y DRDOdevelopedfighterplane ?

    Tejas

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    CERTIFICATE OF DEPOSIT

    These are type of Usance Promissory note and can be issued inDematerialisation form only. The major features are:

    Who can issue All Scheduled commercial banks except RRBs and All IndiaFinancial Institutions

    CRR/SLR Applicable on the issue price in case of banksInvestors Individuals (other than minors), corporations, companies,

    trusts, funds, associations etc.Maturity Min: 7 days Max: 12 Months (in case of FIs minimum 1 year

    and maximum 3 years).Amount Min: Rs. 1 lac, beyond which in multiple of Rs. LacIntt. Rate Market related, Fixed or floating.

    COMMERCIAL PAPER

    Commercial Paper (CP) is a short term money market instrumentand is issued as a usance promissory note (unsecured). CP areprivately placed. CP are issued at a discount to face value as may bedetermined by the issuer.

    CPs enable the highly rated corporate borrowers to diversify theirrequirements of short-term borrowings. These instruments also provide anadditional instrument to investors for investment opportunity. Now,primary dealers and FI are also permitted to issue CP to enable them tomeet their short-term funding requirements for their operations.

    Who can issue

    CommercialPaper (CP)

    Companies, primary dealers (PDs) and all-India financial

    institutions (FIs). (for PDs/FIs, no eligibility criteriaexcept that their borrowing should be within their overall

    borrowing limit).

    Maturity Minimum 7 days & maximum upto one year.

    Denominations Rs.5 lakh or multiples thereof.

    Investors in CP Individuals, banking companies, other corporate bodiesregistered or incorporated in India and unincorporated

    bodies, Non-Resident Indians and Foreign Institutional

    Investors (for FIIs within the limits set for theirinvestments by SEBI.

    Mode ofIssuance:

    CP is a promissory note and can be issued through any ofthe depositories approved by and registered with SEBI.

    Wef 01.07.2001 PDs/FIs/Banks shall hold CPs in dematform only.

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    NON-CONVERTIBLE DEBENTURESNCD are debt instruments which are issued by a corporate (includingNBFCs).

    EligibilityParameters

    i. Minimum tangible net worth Rs. 4 crore, as per thelatest audited balance sheet.

    ii. The borrowal account is classified as a StandardAsset by bank/s or institution/s.

    RatingRequirement

    Credit rating to be obtained from CRISIL, ICRA, CARE,FITCH Ratings India Pvt. Ltd or such other agenciesregistered with SEBI. The minimum credit shall be P-2 ofCRISIL or such equivalent rating by other agencies. Therating should be current and has fallen due for review.

    Denomination: NCDs any be issued in denominations with a minimum ofRs. 5 lakh (face value) and in multiples of Rs.1 lakh.

    Maturity (a) Min 90 days from the date of issue and maximum oneyear.

    NON BANKING FINANCE COMPANIES (NBFCs):A company is considered to be an NBFC if (a) its financial assets are morethan 50% of its total assets (netted off by intangible assets) and (b) incomefrom financial assets are more than 50% of the gross income.Currently, RBI has classified NBFCs under 4 categories, viz., Asset FinanceCompanies, Loan companies, Investment Companies and InfrastructureFinance Companies (IFCs).

    CREDIT RATINGCredit rating means an opinion of a credit rating agency on the futureability and legal obligations of the company being rated, to make timelypayment of principal and interest.Credit Rating Agencies International and National : At international leveltwo agencies namely Standard & Poors and Moodys are very prominentrating agency and in India, there are 5 agencies namely CRISIL, ICRA,CARE, Fitch Rating India and Brick Work Rating India which are engaged

    in the credit business.

    VENTURE CAPITALVenture capital is a source of funds used to finance new proposals/ideasinvolving new technology or products which are risky but with a potential ofhigh returns. It is a capital committed in the form of share-holding for theformation and setting up of a firm, specialized in new ideas or technologies.

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    In other projects involving high risks and yet having strong potential of highprofitability. In India, the venture capital has largely been sponsored byfinancial institutions.

    INITIAL PUBLIC OFFERING (IPO)

    IPO means when the company has come to market with shares for the firsttime. Usually such shares are sold to public through one of the followingmodes : (a) one where the company and lead manager fix a price (called afixed price) and (b) one where the company and the lead manager stipulatea floor price or a price band and leave it to market forces, to determine thefinal prices (price discovery through book-building process).

    Follow Up Public Offering (FPO)

    FPO means the company is coming to market again i.e. after IPO and isseeking public to subscribe to its share again.

    Debt marketDebentures, Bonds, Zero Coupon Bonds, Government Securities, TreasuryBills are part of the debt market.

    INSIDER TRADINGInsider trading refers to the act of buying or selling of securities by a person

    with access to privileged information (to which none else in the market hasaccess to), usually done with the motive of making profits or avoidinglosses.

    Depository

    A depository is an organization which holds securities of investors inelectronic form at the request of the investors through a registeredDepository Participant. At present two Depositories viz. National SecuritiesDepository Limited (NSDL) and Central Depository Services (i) Limited(CDSL) are registered with SEBI.

    Dmat or dematerializationDmat or Dematerialization is a process under which the paper certificatesof an investor are replaced by the company/registrar and an equivalentnumber of securities are credited in electronic form to the Dmat account ofthat investor.

    APPLICATION SUPPORTED BY BLOCKED AMOUNT (ASBA)ASBA is a scheme introduced for the benefit of the investors wherein theapplicant applying for shares in the primary market authroises the bank to

    block the application money in his bank account. Once the allotmentprocess for shares is complete and the basis of allotment is finalized. themoney is debited to the account based on the number of shares actuallyallotted to that applicant

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    SENSEX

    The full form of SENSEX is Sensitive Index. It is a market capitalizationweighted index of 30 stocks (shares) representing a sample of large, well-established and financially sound Indian companies.

    BOOK BUILDINGBook building is the process to assess demand for a particular public issueat various prices, based on which the issue is priced and sold to theinvestors. A number of companies in the recent past including ONGC andICICI Bank, have taken this route to raise funds from the market.

    Some More Links for Candidates Who Have Time and Energy to Study

    What is Cheque Truncation System (CTS 2010) ? Know Everything Aboutthis new Scheme DICGC And Rules and Regulations for Insurance of Bank Deposits What are Basic Savings Bank Deposit Account? What is inflation, deflation, stagflation and hyperinflation What is Marginal Standing Facility ?

    Bancassurance - What is Bancassurance ?

    What is PAN ? Know Everything About Permanent Account Number

    Latest CRR, SLR, Bank Rate, MSF, repo, reverse repo rate etc.

    Define CRR, SLR, Bank Rate, Repo, Reverse Repo etc.?

    http://www.allbankingsolutions.com/Banking-Tutor/Cheque-Truncation-System-CTS-2010.htmhttp://www.allbankingsolutions.com/Banking-Tutor/Cheque-Truncation-System-CTS-2010.htmhttp://www.allbankingsolutions.com/Banking-Tutor/DICGC-Deposit-Insurer-of-banks-India.htmhttp://www.allbankingsolutions.com/Banking-Tutor/BSBDA.htmhttp://www.allbankingsolutions.com/Banking-Tutor/Inflation.htmhttp://www.allbankingsolutions.com/Banking-Tutor/What-is-Marginal_Standing-Facility-or-What-is-MSF.shtmlhttp://www.allbankingsolutions.com/Banking-Tutor/bancassurance.shtmlhttp://www.allbankingsolutions.com/Personal-Finance/PAN-PERMANENT-ACCOUNT-NUMBER.shtmlhttp://www.allbankingsolutions.com/DATA.htmhttp://www.allbankingsolutions.com/CRR-SLR-BANK-RATE-REPO-REVERSE.HTMhttp://www.allbankingsolutions.com/CRR-SLR-BANK-RATE-REPO-REVERSE.HTMhttp://www.allbankingsolutions.com/DATA.htmhttp://www.allbankingsolutions.com/Personal-Finance/PAN-PERMANENT-ACCOUNT-NUMBER.shtmlhttp://www.allbankingsolutions.com/Banking-Tutor/bancassurance.shtmlhttp://www.allbankingsolutions.com/Banking-Tutor/What-is-Marginal_Standing-Facility-or-What-is-MSF.shtmlhttp://www.allbankingsolutions.com/Banking-Tutor/Inflation.htmhttp://www.allbankingsolutions.com/Banking-Tutor/BSBDA.htmhttp://www.allbankingsolutions.com/Banking-Tutor/DICGC-Deposit-Insurer-of-banks-India.htmhttp://www.allbankingsolutions.com/Banking-Tutor/Cheque-Truncation-System-CTS-2010.htmhttp://www.allbankingsolutions.com/Banking-Tutor/Cheque-Truncation-System-CTS-2010.htm
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    BankingandEconomicNews(ApriltoJune2014forSBIClerk2014

    ExamtobeheldinJuly/August2014)

    Headline News in Brief

    Fare and Freight Hike byRailways

    Government announced a sharp hike of 14.2% inpassenger fares and 6.5% in freight tariffs, as envisagedin the interim budget. The decision o these hikes wastaken on February 10 by the UPA government with thecaveat that it would come into effect after the polls.

    Institute for Economicsand peace (IEP) releasedits Global Peace Index forthe year 2014 which istopped by Iceland.

    Instituted for Economics and Peace (IEP) in June, 2014released its Global Peace Index for the year 2014 whichit topped by Iceland. India has been ranked at 143rdposition out of 162 countries surveyed. According to theindex, the most peaceful countries are Iceland, Denmark

    and New Zealand. Syria replaces Afghanistan as theworlds least peaceful country.

    SLR Reduction byReserve Bank of India

    The RBI reduced the SLR by 50 basis points 22.5 percentin its bi-monthly monetary policy statement while.

    RBI asks banks to

    disclose sector-wise loansfrom next fiscal

    RBI has now asked banks to make sector wise

    disclosure from 2014-15 onwards of their advances witha view to encourage them to actively manage exposure tovarious segments. This disclosure requirement is basedon recommendations of the Committee onComprehensive Financial Services for Small Businessesand Low Income Households under chairmanship of Dr.Nachiket Mor.

    NABARD reducesrefinance rate by 20 bps

    National Bank for Agriculture and Rural Development(NABARD) in June 2014 reduced the rate of interest by20 basis points (bps) on their long term refinance facilityto banks with an objective to promote investments in

    agriculture. The new rates will be applicable from June2014. The rates of refinance will now be 9.50% for 5years and above and 9.70% for 3-5 years period, Banksavailing more than Rs. 500 crore in a single drawl willfurther be incentivized by 10 bps.

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    RBI simplifies KYCnorms for opening ofbanks accounts

    RBI in its directions to Banks has told thata bankaccount can be opened with just one address proof,which can be either permanent or local. The decision willhelp migrant workers and employees with transferablejobs who at present face problems in opening banks

    accounts due to non availability of the documents ofaddress proof at new place.

    RBI keeps key policy ratesunchanged in monetarypolicy review

    In its Policy dated 3rdJune, RBI kept the Repo rateunchanged at 8 percent. However it reduced StatutoryLiquidity Ratio by 50 basis points to 22.5 percent(from 23 percent). This move is likely to infuse aroundRs. 40000 crore into the banking system.

    RBI extends loan tenuresfor exporters to 10 years

    RBI has allowed banks to provide loans with tenures ofup to 10 years to exporters to help them ensure capital

    flows to fulfill long-term contracts. Existing norms allowbanks to give loans for up to one year only.

    DLF gets ISOcertification

    Indias largest real estate company DLF has become thecountrys first real estate developer to get ISO 9001 :2008 quality certification for development of housingand commercial projects.

    ONGC begins drilling inPalar basin

    The Oil and Natural Gas Corporation (ONGC) begandrilling of its first-ever well in the Palar basin atChinnapulitur village near Gummidipoondi, about 55km from Chennai. The basin, covering an area of 1800

    sq km, was sandwiched between the two petroleum-bearing Krishna-Godavari and Cauvery basins.

    Flipkart buys out Myntrafor $300 m

    Indias biggest e-commerce company, Flipkart hasannounced to acquire fast growing online fashion retailerMyntra for $300 million.

    Shome Panel submits itsfirst to Finance Ministry

    The Tax Administration Reform Commission (TARC)headed by Parthasarathi Shome, submitted its firstreport. The panel has recommended a radical overhaulincluding abolition of the post of Revenue Secretary,empowerment of the apex direct and indirect taxesbodies, and allowing revenue service officers to specializeto help implement global best practices.

    G7 summit held inBrussels

    The leader of Canada, France, Germany, Italy, Japan,the United Kingdom, the United States, AND thePresident of the European Council and the President ofthe European Commission (G7) leaders) met in Brusselson 4-5 June, 2014. The event was originally planned to

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    take place in the Black Sea resort city of Sochi, in a G8format (including Russia) However, Russia was expelledfrom the Group of Eight over disagreement over theUkraine and the political crisis there.

    Lithuania ready to join

    euro in 2015

    The European Commission in June, 2014 announced

    that Lithuania meets all the criteria for joining the euro,clearing the way for the Baltic state to become the 19thmember of the single currency in January, 2015.

    PMs Bhutan visit At the invitation of King of Bhutan, Jigme KhesarNamgyel Wangchuck, Indian Prime Minister NarendraModi paid a State Visit to Bhutan in June, 2014. PrimeMinister addressed the Joint Sitting of the Parliament inthe Gyalyong Tshogkang in June 2014.

    India becomes permanentmember of WashingtonAccord

    India in June, 2014 became a permanent member of theWashington Accord, an elite international treaty onengineering studies that promotes the movement of

    engineers across signatory countries that includes theUS, the UK and Australia.

    Govt. constitutes SIT onBlack Money

    In its first decision after taking charge, Prime MinisterNarendra Modis government announced the formationof a Special investigation Team (SIT) to probe blackmoney The decision was taken in the first meeting of theUnion Cabinet chaired by Prime Minister Modi.

    Kudankulam becomesfirst nuclear plant togenerate 1000 MW power

    The Unit 1 of the Kudankulam nuclear power plant(KNPP) reached full capacity generation of 1000 MW inJune 2014. This is the first nuclear power plant in the

    country to touch 1000 MW of power generation. TheRusian-designed Voda Voda Energo Reactor (VVER)achieved the final milestone nearly eight months afterpower generated at the plant was connected to the grid.

    Delhi becomes firstkerosene-free city in India

    The Delhi Government in June 2014 announced that thenational capital has become the first Kerosene-free cityin the country. With the successful implementation ofDelhi; A Kerosene-Free City Scheme, 2012, nosubsidized Kerosene is being issued in the nationalcapital and the country can save up to Rs. 200 croresevery year.

    India becomes worldsthird-largest economy

    India emerged as the worlds third-largest economy in2011 in terms of purchasing power parity (PPP) frombeing the tenth largest in 2005, moving ahead of Japan,while the US remained the largest economy closelyfollowed by China, according to a World Bank reportedreleased on 29 April, 2014.

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    Singapore replacedMauritius as top sourcesof FDI in India

    Singapore has replaced Mauritius as the top sources offor foreign direct investment into India, according forabout 25 percent of FDI inflows in 2013-14. During thelast financial year, India attracted $5.98 billion in FDIfrom Singapore, whereas it was $4.85 billion from

    Mauritius, according to the data of the Department ofIndustrial Policy and Promotion (DIPP).

    RBI extends loan tenuresfor exporters to 10 years

    The Reserve Bank of India in may, 2014 allowed bank toprovide loans tenures of up to 10 years to exporters toprovide loans tenures of up to 10 years to exporters tohelp them ensure capital flows to fulfill long-termcontracts. Existing norms capital flows to fulfill long-term contracts. Existing norms allow banks to give loansfor up to one years only. This facility is available withcertain conditions, including an interest rate limit of 200

    basis points above the London interbank, offered rate(Libor), a global benchmark, Besides, exportersreceiving loans of $100 million or above, need to reportthe translation immediately to the RBI. As per theconditions, there should be irrevocable supply orders inplace.

    Bhartiya Mahila Bankincluded in secondscheduled to RBI Act

    Bhartiya Mahila Bank, the countrys first all-womenlender, was included in the second scheduled to the RBIAct in May, 2014. Post inclusion in the second scheduleor commercial bank category, the lender becomes

    eligible for loans from RBI on bank rate and alsoacquires membership of clearing houses. Also, itprovides that any activity of the bank would notadversely affect the interests of depositors. In existencesince November 2013, the bank started with a seedcapital of Rs. 1,000 crore. One of the key objectives ofthe lender is to focus on the banking needs of women andpromote economic empowerment.

    RBI asks banks to installdisabled-friendly ATMs

    The Reserve Bank of India (RBI), for the benefit ofpersons with disabilities, made it mandatory in May,2014 for banks to install talking ATMs with Braillekeyboard. All new ATMs to be installed by commercialbanks from July 2014 onwards would provide audibleinstructions and Braille keyboard to customers.

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    RBI to launch plasticnotes next year

    Plastic currency notes would be launched in the countryin 2015 after field trials, reserve Bank of India (RBI)governor Raghuram Rajan said in May, 2014.

    RBI allows minors above10 years to open operate

    bank a/c

    To boost financial inclusion, the Reserve Bank of India(RBI) on 7 May, 2014 said that banks were at liberty to

    allows minors above 10 years to independently open andoperate bank accounts only along with a parent or aguardian. All children and teenagers below the age of 18are considered minors under current rules.

    Minimum balance Penaltyto end

    In its first bi-monthly monetary policy, RBI said thatinstead of levying penal charges for non-maintenance ofminimum balance in ordinary saving bank accounts,banks should limit services available on such accounts.Hence, while no penalty may be charged for nonmaintenance of minimum balances, the services availableto a customer including account statement, several ATMtransactions, cheque books issuance and number ofwithdrawals may be offered only on the payment of asum.

    SBI sells stressed assets During the end of the last financial year, banks sold largepart of their non-performing assets (NPAs) to AssetReconstruction Companies (ARCs). The move, whichfollows a push from the Reserve Bank of India in thisregards, is expected to boost banks profitability for thequarter ended March 2014. State Bank of India (SBI),Indias largest lender sold Rs. 3500 cr. of NPAs.

    Govt. sets cap for MSS The Govt. of India has authorized the Reserve Bank ofIndia (RBI) to issue debt instruments up to a ceiling ofRs. 50000 cr. under the market stabilization scheme(MSS) for the fiscal 2014-15. Last year to the ceiling waspegged at the same level.

    SBI rolls out tab bankingservice

    State Bank of India (SBI) launched Tablet (Tab)Banking service for opening savings bank accounts andgiving in-principle housing loan approval at thecustomers doorstep. Indias largest bank also launchede-KYC (Know your Customer) service. The three digital

    banking services will be rolled out across the SBInetwork in a phased manner.

    WB projects 5.7 % growthfor India

    The World Bank, in its latest edition of South AsiaEconomic Focus projected an economic growth rate of5.7 percent in 2014-15 for India on the back of a morecompetitive exchange rate and many large investmentgoing forward.

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    Big loan defaulters to faceRBIs audit

    The reserve Bank of India (RBI) has taken upon itselfthe task of investigating bank frauds after a series ofinquiries by banks themselves in high-profile cases suchas those involving Decan Chronicle and KingfisherAirlines yielded very little. The Board of Financial

    Supervision (BFS), chaired by RBI governor RaghuramRajan, has cleared a proposal that the central bnak willconduct an independent forensic audit of corporatedeclared fraudulent by banks. Independent audits,however, will be restricted to corporate that haveborrowed that have borrowed more than Rs. 1000 cr.The central bank will first try gen to the bottom of whatwent wrong with Decan Chronicle. The Hyderabad-based Decan Chronicle borrowed Rs. 4000 cr. From aconsortium of 18 lenders, who allege the companymisused the banning system by borrowing from one of

    lenders without keeping others in the loop. Independentforensic audit is one of the many steps taken by the RBIto check the rise in stressed assets in the banking system.

    The Reserve Bank of India granted in-principle banklicences to Infrastructure Development Finance co(IDFC) and microfinance lender Bandhan FinancialServices Ltd. ending a four-year process that left manyapplicants including Reliance Capital and L & T Financedisappointed. But the regulars promise of keeping awindow open permanently for bank licenses in future,rather than inviting applications at intervals, has kepttheir hopes alive. India Post should still get a license withthe regular saying it may issue one to the institutionswith the largest presence across the country afterdiscussions with the govt.

    RBIs approval to IDFC,Bandhan

    The announcement came after the Election Commissionallowed the central bank to go ahead with the move. Thein-principle approval is valid for 18 months during

    which IDFC and Bandhan will have to meet all RBIrules to secure a permanent license and begin bankingactivities. Twenty-five applicants were in the fray to getnew licenses.

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    RBI caps WMA limit forthe Government

    RBI has set the upper limit for the WMA (Ways andMeans Advances) for the Central Government at Rs.35000 cr per week for the first half of the FY 2015. If thegovt. utilizes 75 percent of WMA limit, RBI may furtheractivate fresh floatation of market loans.

    India takes the crown ofthird largest economyfrom Japan

    As per the data of International ComparisonProgramme, India has overtaken Japan as the Worldsthird largest economy in 2011 in terms of PurchasingPower Parity (PPP). India holds 6.4% share of globalGDP on a PPP bases. US remains in first place with17.1% share, followed by China at 14.9%

    Sun Pharma to acquire to

    Ranbaxy

    It has been reported that The Sun Pharmaceutical

    Industries will acquire 100% of Ranbaxy Laboratories ina $ 4 billion..The combined entity will create the fifthlargest specialist generics company in the world and thelargest pharma company in India.

    India tops GlobalRemittance Chart

    As per world Bank report India received foreignexchange remittances worth $ 70 billion in 2013 from itsmigratory work force to retain the top spot in the world.China, Philippines, Mexico are other countries with largeremittances from abroad.

    India and US agree onFATCA

    India and the US have agreed to implement ForeignAccounts Tax Compliance Act (FATCA), a US law thattargets tax non-compliance by US taxpayers with foreignaccounts.

    P J Nayak Committee'srecommednations

    The RBI panel, headed by Ex-Chairman of Axis Bank,P.J. Nayak, in its report has recommended for dilutingthe government stake in public sector banks to below50%. As per this report Public Secotr Banks suffer fromseveral externally imposed constraints like dualregulation by the RBI and the Finance Ministry, and

    external vigilance by agencies such as the CVC andCAG, among others. [However, in th budget, FinanceMinister has given hints that Government is not going tobring the government stake below 51%]

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    NewPovertyLineby

    Rangrajan

    A panel headed by former Economic Advisor to PrimeMinister, C Rangrajan sets new poverty line at Rupees32 per day in Rural areas and Rupees 47 in Urbanareas. Rangarajan also said that the number of poor inIndia was higher in 2011-12 at 29.5 per cent of the

    population, which means that three out of 10 persons arepoor. The Rangarajan Committee was set up last year toreview the Tendulkar Committee methodology forestimating poverty and clear the ambiguity over thenumber of poor in the country.

    ICICIovertakesHDFCin

    numberofemployees

    Recently ICICI Bank has overtaken it HDFC in terms ofnumbers of employee as ICICI has added over 10,000employees in the last fiscal. Thus, now ICICI hasemerged as the biggest employer in the private bankingspace with more than 72,000 employees.

    RatingsBasedonCustomer

    Services

    PerformanceratingsofBanksoncustomerserviceswillbeput

    inpublicdomainbyBankingCodesStandardsBoardofIndia

    (BCSBI).

    SEBInormsfordebtsecurities SEBI has issued new norms for public issuance of debtsecurities under which such offers have to be ofminimum Rs. 100 crore, while issuers would need tomake additional disclosures and attain atleast 75 percent subscription.

    ICICIcredit/debitcardwith

    DMRC

    ICICI Bank has launched co-branded card with DMRC.It can be your credit/debit card, and offers the benefit of10 per cent discount that the DMRC smart card offers.

    IndialaunchesRuPay India recently launched its own payment gatewayRuPay, equivalent of Visa and Mastercard, which willwork on ATMs and merchant outlets it will helps inreducing cash transactions. Note: RuPay, works onthree channels ATMs, Point of Sales (POS) and onlinesales, is the seventh such payment gateway in the world.The RuPay platform developed by National PaymentsCorporation of india (NPCI) is being used by certain

    banks like ICICI, State Bank of India, Punjab NationalBank, among others, for clearing and settlement. NowG.I wants that this should be used by all PS Banks

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    Indiabecomesthirdlargest

    economy

    India became third largest economy in 2011 from 10thin2005: World Bank. India emerged as the worlds third-largest economy in 2011 from being the 10thlargest in2005, moving ahead of Japan, while the US remained thelatest economy closely followed by China, latest figures

    have revealed.

    SahooPanelreporton

    depositoryreceiptsaccepted

    Govt accepts Sahoo panel report on review of depositoryreceipts scheme. The key recommendations of thecommittee include allowing issuance of depositoryreceipts against any underlying securities equity ordebt, by any issuer listed or unlisted. Depositoryreceipts are receipts denominated in foreign currencycreated by a depository in the country of listing. Thereare two popular types of depository receipts globaldepository receipts and American depository receipts.

    ExideLifeInsuranceCompany ING Vysya Life Insurance Company Ltd has becomeExide Life Insurance Company. The insurance companywill continue to honour its commitments and obligationsunder the insurance policies issued to customers in thename of ING Vysya Insurance Company Ltd.

    Mostexpensiveeconomies Switzerland and Norway are the worlds most expensiveeconomies, as per World Bank report.

    BaselIIItobeeffectivefrom

    2019

    The Basel Committee on Banking Supervision on 15

    April 2014 issued Final standards for measuring andcontrolling large exposures of banks to customer. Thesestandards will take effect from 1 January 2019. Theseare popularly known as Basel III

    BoIgivesbridgeloantoAir

    India

    Bank of India (BOI) has become the first Indian bank toextend a bridge loan of $200 million to Air India tofinance the purchase of two Boeing 787 Dreamlineraircraft.

    Indiantopsglobal

    remittances

    As per World Bank report India leads global remittances

    with USD 70 bn in 2013. China is second with USD 60billion .

    WTOprojections World Trade Organisation (WTO) projected that theworld trade will grow by 4.7 percent in 2014.

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    BoIlaunchesIMTscheme Bank of India (BOI) launched Instant Money Transfer(IMT) scheme in Mumbai. This IMT scheme allowscustomers to withdraw cash without using either debtcard or credit card at Bols IMT-enabled ATMs. This isthe first-of-tis-kind initiative launched by a public sector

    bank.CBIsellsitsstakeinCIBIL Central Bank of India has sold its entire stake in creditinformation provider CIBIL to Transunion InternationalInc. Central Bank had a 5 per cent stake in CIBIL whileTransunion is the majority shareholder in CIBIL at 27.5per cent.

    BrandAmbassadorofCanara

    Bank

    Canara Bank names cricketer Shikhar Dhawan as itsbrand ambassador.

    Fastestgrowingstate Bihar emerges as fastest growing state (15.05 per cent) in2012-13: CSO Report.

    FDratesinPostOffices

    increased

    Interest rate on Post Office Fds increased by up to 0.2per cent from 8.2 percent to 8.4 percent.

    PostOfficestoostartATMs Indias 1stpost office savings bank ATM inaugurated inThyagaraya Nagar, Chennai.

    Increaseinrateofintereston

    PFdeposits

    Retirement fund body EPFO decided to increase the rateof interest on Provident Fund deposits to 8.75 percentfrom 8.5 percent.

    BMBandSBICardstieup Bharatiya Mahila Bank (BMB) and SBI Cards havejoined hands for roll-out of credit cards to customers ofIndias first women-focused commercial bank.

    BoJandRBIexpandswap

    limit

    The Bank of Japan (BOJ) and RBI concluded anagreement that expands the maximum amount of thebilateral swap arrangement (BSA) between the twocountries to USD 50 billion. BOJ Governor is HaruhikoKuroda and RBI Governor Raghuram Rajan.

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    List of Cabinet and State Ministers as on 27th May 2014

    NameoftheMinister Portfolio Rank

    NarendraModi Personnel,PublicGrievancesandPensions,

    DepartmentofAtomicEnergy

    DepartmentofSpace,Allimportantpolicyissues

    andallother

    portfoliosnotallocatedtoanyminister.

    PrimeMinister

    RajnathSingh HomeAffairs CabinetMinister

    SushmaSwaraj ExternalAffairs,OverseasIndianAffairs CabinetMinister

    ArunJaitley Finance,CorporateAffairs,Defence CabinetMinister

    M.VenkaiahNaidu UrbanDevelopment,HousingandUrban

    PovertyAlleviation,Parliamentary

    Affairs

    CabinetMinister

    NitinGadkari RoadTransportandHighways,Shipping CabinetMinister

    D.V.SadanandaGowda Railways CabinetMinister

    UmaBharati WaterResources,RiverDevelopmentandGanga

    Rejuvenation

    CabinetMinister

    NajmaA.Heptulla MinorityAffairs CabinetMinister

    GopinathraoMunde RuralDevelopment,PanchayatiRaj,Drinking

    WaterandSanitation

    CabinetMinister

    RamvilasPaswan ConsumerAffairs,FoodandPublicDistribution CabinetMinister

    KalrajMishra Micro,SmallandMediumEnterprises CabinetMinisterManekaGandhi WomenandChildDevelopment CabinetMinister

    AnanthKumar ChemicalsandFertilizers CabinetMinister

    RaviShankarPrasad CommunicationsandInformationTechnology,

    LawandJustice

    CabinetMinister

    AshokGajapathiRaju

    Pusapati

    CivilAviation CabinetMinister

    AnantGeete HeavyIndustriesandPublicEnterprises CabinetMinister

    HarsimratKaurBadal FoodProcessingIndustries CabinetMinister

    NarendraSinghTomar Mines,Steel,LabourandEmployment CabinetMinister

    JualOram TribalAffairs CabinetMinister

    RadhaMohanSingh Agriculture CabinetMinister

    ThaawarChandGehlot SocialJusticeandEmpowerment CabinetMinister

    SmritiIrani HumanResourceDevelopment CabinetMinister

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    HarshVardhan HealthandFamilyWelfare CabinetMinister

    DharmendraPradhan PetroleumandNaturalGas(Independent

    Charge)

    MinisterofStates

    G.M.Siddeshwara CivilAviation MinisterofStates

    InderjitSinghRao Planning(IndependentCharge),StatisticsandProgrammeImplementation

    (IndependentCharge),Defence

    MinisterofStates

    JitendraSingh ScienceandTechnology(IndependentCharge),

    EarthSciences

    (IndependentCharge),PrimeMinisterOffice,

    Personnel,Public

    GrievancesandPensions,DepartmentofAtomic

    Energy,Departmentof

    Space

    MinisterofStates

    KirenRijiju HomeAffairs MinisterofStates

    KrishanPal RoadTransportandHighways,Shipping MinisterofStates

    ManojSinha Railways MinisterofStates

    MansukhbhaiDhanjibhai

    Vasava

    TribalAffairs MinisterofStates

    Nihalchand ChemicalsandFertilizers MinisterofStates

    NirmalaSitharaman CommerceandIndustry(IndependentCharge),

    Finance,CorporateAffairs

    MinisterofStates

    P.Radhakrishnan HeavyIndustriesandPublicEnterprises MinisterofStates

    PiyushGoyal Power(IndependentCharge),Coal(Independent

    Charge),Newand

    RenewableEnergy(IndependentCharge)

    MinisterofStates

    PrakashJavadekar InformationandBroadcasting(Independent

    Charge),Environment,Forest

    andClimateChange(IndependentCharge),

    ParliamentaryAffairs

    MinisterofStates

    RaosahebDadaraoDanve ConsumerAffairs,FoodandPublicDistribution MinisterofStates

    SanjeevKumarBalyan Agriculture,FoodProcessingIndustries MinisterofStates

    SantoshKumarGangwar Textiles(IndependentCharge),Parliamentary

    Affairs,WaterResources,

    RiverDevelopmentandGangaRejuvenation

    MinisterofStates

    SarbanandaSonowal SkillDevelopment,Entrepreneurship,Youth

    AffairsandSports

    (IndependentCharge)

    MinisterofStates

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    ShripadYessoNaik Culture(IndependentCharge),Tourism

    (IndependentCharge)

    MinisterofStates

    SudarshanBhagat SocialJusticeandEmpowerment MinisterofStates

    UpendraKushwaha RuralDevelopment,PanchayatiRaj,Drinking

    Waterand

    Sanitation

    MinisterofStates

    V.K.Singh DevelopmentofNorthEasternRegion

    (IndependentCharge),External

    Affairs,OverseasIndianAffairs

    MinisterofStates

    VishnuDeoSai Mines,Steel,LabourandEmployment MinisterofStates