Competition Booster English 2016

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Eco/Banking/RBI

ECONOMY

June 1 : Finance Ministry expects GDP growth to

improve to 8% in 2016-17

June 1 : According to Government sources it has

achieved the scal decit target of 3.9 per

cent of GDP in 2015-16.

Furthermore revenue decit during the last

scal was 2.5 per cent of GDP.

June 1 : Nomura has marked down, India's GDP

growth forecast marginally to 7.7 per cent

for the 2016-17, from 7.8 per cent earlier,

saying there is still no sign of an export or

private capital expenditure turnaround.

June 2 : India's growth rate is expected to hover near

7.5% this year as well as next even as many

emerging market economies continue to lose

momentum.

The outlook was released a day after data

shared by the statistics ofce showed

that India grew at 7.6% in 2015-16 and

economists expect it to grow 7.9% in FY17.

June 3 : State-run rm BSNL announced partnership with

Hitachi Payment Services for facilitating round-the-clock phone bill payment through ATMs.

BSNL customers will be able to pay their

bills through these ATMs.

June 3 : BSE, Asia's oldest Stock Exchange, has

received the Reserve Bank approval to start

an online bidding platform for Sovereign

Gold Bond scheme.

The bond is issued by RBI on behalf of

government and investors can apply for the

bonds at the price as offered by RBI.

June 6 : Nestle and Alibaba announced plans toupgrade their partnership.The world's

largest food retailer will launch its biggest

e-commerce campaign ever with its diverse

products, spanning 30 brands from coffee

to baby formula, being sold on Alibaba's

expansive e-commerce platforms such as

T-mall.

June 7 : In a major boost to its diplomatic push for

NSG membership, India managed to win

crucial support of Switzerland ahead of a key

meeting of the 48-nation bloc even as the two

countries agreed to step up cooperation in

unearthing black money stashed by Indians

in Swiss banks.

June 7 : Government of India and Asian Development

Bank have signed a $120 Million loan

agreement to Modernize Irrigation andImprove Water Management in Odisha.

June 10 : Ola Money, the wallet payment of cab

aggregator Ola, has partnered with online

marketplaces eBay, Yep Me and Askme

Bazaar, to allow customers to pay through

its digital payment service.

June 11 : 179.9% Growth in Tourists Arrival on

E-Tourist Visa in May 2016 over the Same

Period in 2015

USA Continues to Occupy Top Slot followed

by UK and China Amongst the CountriesAvailing E-Tourist Visa Facility during May

2016.

June 13 : Recovery in the Indian economy is likely to

continue and the GDP growth is expected

to be higher at 7.8 percent in the current

nancial year, although it will be "uneven",

propped largely by "strong consumption"

and public expenditure, says a DBS report.

June 13 : The government expects the economy to

grow by 7-7.75 per cent in the current scal.

June 14 : Technology giant Microsoft will acquireLinkedIn for $196 per share in an all-cash

deal valued at $26.2 billion, inclusive of

LinkedIns net cash.

June 14 : Dell and Shiv Nadar University have signed

an agreement to collaborate and drive

research .

June 14 : Wholesale Price-based Ination was 0.79%

in May, vegetable prices have risen.

June 17 : Max Life, Max Financial Services have

agreed to merge with HDFC Life. Max Life

will merge with HDFC Life insurance, thecompanies said in statements to exchanges.

June 17 : Canadian smartphone maker BlackBerry

announced its partnership with HCL

Info systems to expand the channel and

distribution network for BlackBerry

enterprise software products and services in

India

June 20 : Government has announced a series of

big changes in the FDI norms for single

brand retail, civil aviation, airports,

pharmaceuticals and animal husbandry.


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The government has allowed 100 percent

in aviation policy for scheduled carriers. 49

percent FDI has been permitted under the

automatic route.

June 21 : SDMC inks pact with SECI for 20 MWsolar power project .Aiming to generate

solar power through rooftops of buildings

and spare land under South Delhi Municipal

Corporation, the civic body inked an MoU

with Solar Energy Corporation of India

(SECI).

June 21 : To improve ties with Myanmar, the Inland

Waterways Authority of India (IWAI) has

entered into an agreement with India Ports

Global Private (IPGPL)for a Rs 476-crore

project to facilitate connectivity and trade.

June 21 : India's economic growth is expected to be

at 7.6% in 2016-17, followed by a modest

acceleration to 7.7% in 2017-18 and 7.8% in

2018-19," as per World Bank said in its India

Development Update-Financing Double

Digit Growth report, which is published

twice a year.

June 22 : IT services provider Tech Mahindra stated

that, it has acquired the BIO Agency (BIO).

It is a UK-based agency that offers digital

services to global clients and engages with

their customers. Tech Mahindra acquired theBritish rm for 45 million pounds (Rs 445

crore).

June 22 : Country's largest software services rm Tata

Consultancy Services (TCS) has partnered

with four colleges (Swami Vivekanand

University, St. Xaviars College of Science &

Art etc.) to offer courses in Big Data as it

looks to strengthen the pool of workforce in

the digital technology space in India.

June 23 : To encourage saving in pension scheme,

retirement fund body will provide 8.16 percent higher pension to all those subscribers

opting for deferring the benet till the age of

60 years.

The Employees' Provident Fund Organization

has also allowed to contribute in the scheme

till the age of 60 years.

June 28 : Tata group's e-commerce venture

TataCLiQ.com is going to be partnered

with 12 international brands, including New

Look, Oasis, Lipsy London, Phase Eight,

Hawes & Curtis, to sell on its platform.

June 30 : Technology giant Cisco announced its new

LaunchPad initiative under which it will

partner with developers and enterprises in

India to co-develop smart solutions.

BANKINGJune 2 : The Union Cabinet approved a proposal by

the department of posts for entry into the

banking sector by launching the India Post

Payments Bank, a development that would

help the central government in its initiative

of 100% nancial inclusion.

June 7 : YES Bank has projected Indias GDP to cross

8.1% in FY17 on the back of visible pickup

in consumption demand like cement, oil,

electricity along with stronger than anticipated

fourth quarter, FY16 corporate earnings.

June 9 : The World Bank has lowered its forecast for

the global growth in 2016 to 2.4 per cent,

saying that the world economy is facing

stronger headwinds which is 0.5 percentage

point lower than the banks forecast in

January.

June 11 : Realty portal Magic bricks has partnered

with State Bank of India (SBI) to organise

an online home-buying festival. The three-

week long online festival will kick start from

June 10-30, 2016.

June 14 : DCB Bank has launched a card-less and

PIN-less ATM in Bengaluru. The ATM

accepts Aadhaar number and Aadhaar

ngerprint (biometric) instead of ATM /

debit card and PIN to dispense cash from the

bank account.

June 15 : Cabinet has approved merger of 5 associate

banks with SBI.

June 16 : State Bank of India has created a dedicated

Rs. 200 crore fund for start ups. In order to

fund start-ups in the nancial technology (n

tech) space, country's largest lender SBI hasset up a Rs 200 crore fund.

June 20 : State-run bank SBI has been named in a 'Hall

of Shame' list of 158 banking and nancial

institutions globally that have invested

billions of dollars in companies making

cluster bombs.

June 22 : Nikesh Arora abruptly departed Soft Bank

Group Corp., two years after he was wooed

from Google Inc. and had emerged as the

heir apparent at the Japanese internet and

telecommunications giant.


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June 23 : Life Insurance Corporation of India (LIC)

Chairman S K Roy (pictured) has written to the

government to relieve him of his duties from

June 29 this year. Roy, who took charge as

chairman of the countrys largest insurer on the

same date in 2013, had a ve-year term.

RBI

June 3 : The Reserve Bank of India (RBI) has set

in motion the process of establishing an IT

(information technology) subsidiary.

June 7 : The Reserve Bank of India (RBI) has kept

key interest rate unchanged at a ve-year low

of 6.50% in its bi-monthly policy review.

The cash reserve ratio (CRR), or the share of

deposits banks must keep with the RBI, was

unchanged at 4% .

June 7 : India's real economy , as measured by the

Gross Value Added (GVA), is likely to

expand by 7.6 per cent in 2016-17 due to

improvement in farm and industry sectors,

said an RBI-sponsored survey of professional

forecasters.

June 11 : Reserve Bank has cancelled registration of

three NBFCs including Escorts Finance and

Express Trading & Securities.

June 14 : In a bid to further strengthen the lenders

ability to deal with stressed assets and put

real assets back on track, the Reserve Bank of

India (RBI) has unveiled yet another scheme

Scheme for Sustainable Structuring of

Stressed Assets (S4A) for reworking the

nancial structure of big corporate entities

facing genuine difculties.

June 28 : With an aim to curb price hike and

maintaining price stability, while keepingin mind the objective of growth, the

Reserve Bank of India Act, 1934, has been

amended by the Finance Act, 2016. For the

amendment a committee will be formed with

name MPC( Monetary Policy Committee).


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Naonal & State News of

the Month

June 1 : Central Government has decided to enhancesuperannuation age of all doctors in Central

Health Service to 65 years with effect 31st

May 2016. This decision will benet about 4

thousand doctors.

June 2 : The Ministry of Home Affairs has taken a

decision to include short term yoga programmes

in Tourist Visa and e-Tourist Visa.

June 2 : India unveiled a blueprint to tackle national

disasters through its rst ever National

Disaster Management Plan (NDMP). The

plan, released by Prime Minister NarendraModi, aims to make the country disaster

resilient and reduce loss of lives and assets

during calamities.

June 3 : India has joined the Hague Code of Conduct

(HCoC) against Ballistic Missile Proliferation

by notifying the HCoC Central Contact in

Vienna through diplomatic channels.

June 4: A Memorandum of Understanding (MoU)

Signed Between Ministry of Railways

and Govt. of Haryana for setting up of JV

Company. In presence of Union Ministerof Railways, Suresh Prabhakar Prabhu and

Chief Minister of Haryana Manohar

Lal Khattar, a Memorandum of

Understanding (MoU) for Formation of

Joint Venture Company for Development

of Railway Infrastructure in the State was

signed on 3rd June, 2016.

June 6 : Railway Minister Suresh Prabhu agged off

IRCTCs Tiger Express from Safdarjung

station. A semi-luxury tourist train, Tiger

Express is launched to spread awareness

among people regarding tiger conservation.

June 6 : The 19th Plenary Session of the Contact Group

on Piracy off the Coast of Somalia (CGPCS)

took place in Mahe, Seychelles during 31 May

3 June 2016. India was chosen to co-chair

the important Working Group on Improving

Maritime Situational Awareness (MSA) in the

Region through consensus.

June 7 : In line with the governments Digital

India campaign, computer technology giant

Dell has announced the launch of Aarambh

a pan-India initiative aimed at spearheading

the use of personal computer (PC) for

education.

June 8 : Piyush Goyal, Minister of State (IC) for

Power, Coal and New & Renewable Energy

launched Surya Mitra mobile App atNational Workshop on Rooftop Solar Power.

The GPS based mobile app is developed by

National Institute of Solar Energy (NISE)

which is an autonomous institution of Ministry

of New & Renewable Energy (MNRE).

June 10 : Jharkhand was adjudged 'top performing

state' under the Digital India Programme.

Besides Jharkhand, Goa, Maharashtra, Mizoram,

Uttar Pradesh and Himachal Pradesh also got

awards as top performing states.

June 10 : Nitish Kumar-led Bihar is followed by

Telangana and Jharkhand on a ranking being

done on real-time basis by the Department

of Industrial Policy and Promotion (DIPP)

on business reforms and action plans.In the

last year's nal rankings, Bihar was at 21st

position.

June 10 : Union home minister and Lucknow MP

Rajnath Singh inaugurated the Wi-Fi

service at the Charbagh railway station in

Lucknow.

June 11 : Railway Minister Suresh Prabhu dedicates

six railway facilities in Bihar. Railway

Minister Suresh Prabhu inaugurated six rail

facilities in Bihar including agging off the

weekly Motihari-Anand Vihar Champaran

Satyagrah Express.

June 16 : Railway Minister Suresh Prabhu launched

a series of initiative, including agging-off

of rst time-tabled container train service

named Cargo Express from Domestic

Container Terminal, Okhla (Delhi) to

Whiteeld (Bengaluru).

June 17 : Union Minister for Human Resource

Development, Smriti Zubin Irani has

dedicated 'Vidyanjali'- a school volunteer

programme to the nation.

The programme will be piloted across 21

states which committed to do so in the

conference of state ministers of Education

held on February 8.

June 18 : The Finance Ministry said non-resident

indians (NRIs) can now open National

Pension System (NPS) accounts online if


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they have Aadhaar Card or PAN card.

Most of the Indians going to the gulf and

some other countries go for employment and

return to India after having worked abroad

for a certain period.

June 18 : Government has decided in principle to

allow export of missile systems to 'certain'

countries who have friendly relationship

with India.

June 18 : In connection with the celebration of

International Day of Yoga 2016 a Yog

Geet (Song) was released by the Minister

of State (IC) for AYUSH, Shripad Naik at

New Delhi. This song is of 3 minutes and 15

seconds in Hindi language.

June 18 : The Union Minister for Power, Coal and

Renewable Energy, Piyush Goyal has said

that all the states have resolved to provide

24x7 power for all by March 2019 or earlier

in their respective states.

June 21 : Prime Minister Narendra Modi announced

two yoga awards - one international and

another national - to be given away on the

occasion of International Yoga Day.

Modi declares this announcement when he

was addressing 30,000 yoga enthusiasts at

the Capitol Complex here on the event of the

second International Yoga Day.

June 21 : Delhi Sikh Gurudwara Management

Committee (DSGMC), along with India

Post, launched a postal cover featuring

Sikh general Baba Banda Singh Bahadur, to

commemorate his 300th death anniversary.

June 21 : Nagpur City and China's Jinan city have

become sister cities for exchange of

ideas and technology. Nagpur Municipal

Corporation (NMC) and Jinan, Municipal

People's Republic of China, entered into an

agreement to develop sister city relationship

between the two cities.

June 23 : A state-of-the-art centre to conduct research

on medical benets of yoga, was inaugurated

at the AIIMS as part of the government's

emphasis on yoga and traditional systems of

medicine.

June 23 : Railway Minister Suresh Prabhu agged off

a new train service between Danapur and

Saharsa in Bihar through video-conferencing.

Besides agging off the Danapur-Saharsa

Janhit Express, Prabhu also announced the

extension of three train services in Bihar and

Jharkhand.

June 23 : India is offering Commonwealth citizensfully funded training courses across a range

of areas, including rural development, IT,

telecommunications and renewable energy,

in association with the Commonwealth

Secretariat. The courses are sponsored by the

Indian government and delivered by Indian

institutions through the Indian Technical and

Economic (ITEC) programme.

June 25 : All states, barring Uttar Pradesh, along with

seven Union territories have signed 24x7

'Power for All' (PFA) documents, which

aims to provide round- the-clock affordable

electricity.

June 29 : The Union Agriculture & Farmers' Welfare

Minister, Radha Mohan Singh launched Crop

Manager for Rice-based Systems (CMRS)

a web based App for better crop and Nutrient

management, released for Bihar farmers.

June 29 : Recommendations of the 7th Pay

Commission got the Cabinet nod, which

will benet over one crore government

employees and pensioners. The pay panel,in November last year, had recommended

a 14.27 per cent hike in basic pay at junior

levels, the lowest in 70 years.

June 29 : The National Mineral Exploration Policy

(NMEP) got the Cabinet approval, paving

the way for auction of 100 prospective

mineral blocks.

June 30 : Naval Science and Technological Laboratory

(NSTL), a premier laboratory of DRDO,

(indigenously) built heavyweight anti-

submarine torpedo Varunastra has beensuccessfully inducted in the navy, making

India one of the eight countries to have the

capability to design and build such a system.

June 30 : The last ship in the series of four Water Jet

Fast Attack Crafts (WJFAC) being built for

the Indian Navy by defence PSU Garden

Reach Shipbuilders and Engineers Ltd

(GRSE) was launched.

It is named Tarasa, after an island in the

Andaman and Nicobar archipelago.


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June 2 : An arrangement between the authorized

governmental agencies of the Government ofIndia and United States of America (USA) for

exchange of terrorist screening information

was signed in New Delhi.

June 3 : In an effort to increase mutual cooperation,

India and Tunisia signed two MoUs on

promotion of handicrafts , IT, communication

and digital economy.

June 4 : Prime Minister Narendra Modi and

Afghanistan President Dr. Ashraf Ghani

jointly inaugurated the Afghan-India

Friendship Dam (Salma Dam) in Herat

province in Western Afghanistan.

June 4 : Prime Minister Narendra Modi's upcoming

visit to the American capital will highlighted

the deepening of the US-India relationship. It

It was PM Modi's fourth visit to America.

June 4 : The Prime Minister, Narendra Modi visited

Afghanistan, State of Qatar, Switzerland,

United States of America and Mexico from

June 4, 2016 to June 8, 2016.

June 6 : India and Qatar have signed an agreement to

forge cooperation in skill development and

facilitate mobility of workers from India to

the gulf nation.

June 7 : Singapores prestigious Institute of Technical

Education will help set up vocational skill

centres across India to train youths to full

the requirements of skilled manpower in

select industries.

June 9 : Days after it got Switzerland's backing, India

gained support from Mexico, as well, for

its bid to become a member of the Nuclear

Suppliers Group (NSG).

June 9 : India and Nepal decided to enhance mutual

cooperation in matters of disaster responsemanagement and effective preparedness

against them.

A 15-member Nepalese delegation met the

National Disaster Response Force (NDRF)

here and discussed issues related to sharing

and cooperation in these subjects.

June 9 : Narendra Modi became the sixth Indian

Prime Minister to address the joint session

of the US Congress. Before this Jawaharlal

Nehru, Rajiv Gandhi, P V Narasimha Rao,

Atal Behari Vajpayee and Manmohan Singh

have addressed US Congress.

June 14 : Israel won an election to chair the UnitedNations' legal committee, the rst time thatit will head one of the world body's six

permanent committees since joining the

U.N. in 1949.

June 14 : Ghana seeks civil nuclear cooperation withIndia .Putting the agenda of deepening tieswith the African countries on a fast-track,India and Ghana signed three bilateralagreements to strengthen co-operation in

varied elds.

June 14 : India and the UK clinched two new keyagreements on solar energy and nanotechnology as part of their wider scienceand technology cooperation.

June 14 : India and Switzerland said a team wouldsoon visit the Alpine nation to expedite

pending information requests on Indianswith Swiss bank accounts, while anautomatic exchange of details would beginin 2018.

June 17 : India and Thailand have inked twoagreements in the eld of culture andeducation.

June 18 : Jamia Millia Islamia has signed amemorandum of understanding (MoU)with Tehran's National Institute of GeneticEngineering and Biotechnology (NIGEB)for academic cooperation.

June 18 : Prime Minister Narendra Modi and LankanPresident Maithripala Sirisena inauguratednewly-renovated Duraiappah Stadium inJaffna .

June 18 : The Commerce & Industry MinisterSmt. Nirmala Sitharaman and Mr. JooHyunghwan, the Minister of Trade,Industry & Energy, Government of theRepublic of Korea, launched Korea Plus, aspecial initiative to promote and facilitateKorean Investments in India.

June 20 : Ganges-Danube Cultural Festival of

India in Hungary was inaugurated byDr. Mahesh Sharma, Minister of State forCulture & Tourism (I/C) and Civil Aviationat Vigado Theatre in Budapest, Hungary.

June 20 : Rome has elected populist Virginia Raggi asits rst female mayor in a signicant electoralreverse for Prime Minister Matteo Renzi.

June 23 : The Cabinet approved the signing of aprotocol amending an agreement betweenIndia and Belgium for avoidance of double

taxation and prevention of scal evasion

with respect to taxes on income.

Internaonal News of

the Month


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June 24 : The World Bank announced a partnership

with Indian Council of Arbitration (ICA) to

aid dispute resolution, if any, for speedier

disposal of infrastructure projects in India.

June 25 : Pakistan, Bangladesh, Indonesia andTajikistan will get the rst set of loans

totalling $509 million from Chinas

sponsored Asian Infrastructure Investment

Bank (AIIB) in which India is a founding

member.

June 25 : Asian Development Bank (ADB) stated that,

it has approved a $500 million loan to build a

bridge across the Ganga in Bihar.The project

is expected to be completed by December,

2020.

June 25 : India and Switzerland signed a

Memorandum of Understanding (MoU) toestablish formal cooperation in the elds of

skills development, vocational, professional

education and training.

June 27 : India joined the Missile Technology Control

Regime (MTCR) as a full time member, three

days after it failed to get NSG membership

due to stiff opposition from China and a few

other countries.

June 29 : The 193 members of the United Nations

General Assembly elected Sweden, Bolivia,

Ethiopia and Kazakhstan to serve on the

world bodys Security Council for a period

of two years, starting from 1st January 2017.

June 30 : The second BRICS Youth Summit will

begin Guwahati from July 1 with the city

leaving no stone unturned to mesmerise

the international delegates. The three-day

summit with the theme 'Youth as bridge

for intra-BRICS exchanges' will focus on

enhanced people-to-people contacts of

BRICS members - Brazil, Russia, India,

China and South Africa.

June 30 : Sending a message of unity post-Brexit, Italy

and the Netherlands have agreed to share a

two-year term on the UN Security Council

for a non-permanent seat after ve rounds

of balloting failed to break a deadlock in the

General Assembly.

The 193 membered UN General Assembly

elected Sweden, Bolivia, Ethiopia andKazakhstan to serve on the world body's

Security Council for a period of two years,

starting from January 1, 2017.

June 30 : The Union Cabinet chaired by the Prime

Minister Narendra Modi has approved the

signing of a Memorandum of Understanding

(MoU) between India and Tanzania for

bilateral cooperation in water resources

management and development.

The areas of enhanced cooperation include

techniques in water harvesting, surface and

groundwater management and developmentand aquifer recharge.


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S K Sharma : Eminent scientist S K Sharma took charge

as the Chairman and Managing Director(CMD) of Nuclear Power Corporation

of India Limited (NPCIL).

Nishi Singh, Gopal Mukherjee :

Senior bureaucrats Nishi Singh and

Gopal Mukherjee were appointed as

members in Central Board of Direct

Taxes (CBDT), the apex direct taxes

body.

Rahul Johri : BCCI president Anurag Thakur

welcomed former media professional

Rahul Johri who has joined the cricket

board as its rst ever chief executive

ofcer (CEO).

Navin Agarwal :

Senior IPS ofcer Navin Agarwal

appointed chief of National Anti-Doping

Agency (NADA), working for dope-

free sports. Agarwal is a 1986 batch IPS

ofcer of Jammu and Kashmir cadre.

Prabhas Jha : Prabhas Kumar Jha assumed the ofce of

Secretary in the Ministry of Parliamentary

Affairs.

V Narayanasamy :

Senior Congress leader and former Union

Minister V Narayanasamy sworn in as

the tenth Chief Minister of Puducherry.

Ashok Ganapathy :

Bharti Airtel announced the appointment

of Ashok Ganapathy as Director Airtel

Business with effect from July 1. He will

report to Gopal Vittal, Chief Executive

Ofcer and Managing Director (India &

South Asia), Bharti Airtel.

Manish Kumar :Manish Kumar will be joining NSDC as

Managing Director and Chief Executive

Ofcer (CEO) and Jayant Krishna will

take up the new role of the Executive

Director and Chief Operating Ofcer

(COO) effective July 1, 2016.

Umang Bedi : Facebook India has appointed Umang

Bedi as managing director. He will

take over from Kirthiga Reddy, who

will be returning to the US to take on a

new role at the companys Menlo Park

headquarters.

Naresh Goyal :Jet Airways chairman Naresh Goyal

has been re-elected to IATA's Board

of Governors. Goyal is the only

representative from India on this board.

Per Lodin : UN Secretary General Ban Ki-Moonhas appointed Swedish Major General

Per Lodin, a logistics expert, to head the

UN Military Observer Group in India

and Pakistan (UNMOGIP) that monitors

the situation in Kashmir. India does not

recognize the UNMOGIP's mandate.

Peter Thomson :

Peter Thomson of Fiji has been elected

as president of the next session of the UN

General Assembly, which will choose

the successor to Secretary General Ban

Ki-moon.Suresh Chandra :

Senior legal service ofcer Suresh

Chandra is appointed as the

Law Secretary.

Chandra, an ofcer of Indian Legal

Service was Additional Secretary in the

department.

Sunil Mittal : Sunil Bharti Mittal, Bharti Enterprises'

founder and chairman, has been elected

as the Chairman of the International

Chamber of Commerce (ICC), takingover from Terry McGraw, Chairman

Emeritus of S&P Global.

Kamala Shirin Lakhdhir :

US President Barack Obama has

nominated an Indian-origin diplomat

Kamala Shirin Lakhdhir, as the next

American ambassador to Malaysia.

Anil Kumble : Anil Kumble has been named head

coach of the Indian team for the next

12 months.He will take charge at the

squads preparatory camp ahead of the

upcoming tour of the West Indies nextmonth.

N Srinivasan : Former BCCI chief N Srinivasan has

been re-elected President of the Tamil

Nadu Cricket Association (TNCA)

during the state body's Annual General

Meeting.

Sujoy Bose : The nance ministry stated that Sujoy

Bose has been appointed as the chief

executive ofcer (CEO) of National

Investment and Infrastructure Fund

(NIIF) Ltd.

Appointments of the

Month


10/31



Bose at present is director at

Infrastructure and Natural Resources,

International Finance Corporation (IFC).

Rose Gottemoeller :

The North Atlantic Treaty Organization(NATO) appointed Rose Gottemoeller as

deputy head of the US-led alliance.

She will be the rst woman to hold this

post.

N S Vishwanathan :

A government formed panel,

Appointments Committee of the Cabinet

(ACC) has selected, N S Vishwanathan as

a Reserve Bank of India deputy governor,

replacing incumbent H R Khan. N S

Vishwanathan was executive director in

RBI before his new appointment.

Nand Kishore :

Senior bureaucrat Nand Kishore was

appointed as Deputy Comptroller and

Auditor General (CAG). Kishore, a 1981

batch ofcer of Indian Audit and AccountService, is presently Additional Deputy

Comptroller and Auditor General.

Rodrigo Duterte :

Rodrigo "Rody" Duterte from Davao

City took his oath as the 16th president

of the Philippines at Malacaan Palace

in Manila.

Duterte took his oath after former

President Benigno Aquino III was given

departure honors at the Palace grounds.


11/31



13th National Award for Excellence :

V.O. Chidambaranar Port has bagged

National Award for Excellence in Cost

Management for the year 2015 from The

Institute of Cost Accountants of India under

the category of Public Service Sector- Small.

Miss USA 2016 Award :

Deshauna Barber, a 26-year-old ,an Army

Reserve ofcer and IT analyst from the

District of Columbia has been crowned Miss

USA 2016 after mounting a strong defense

of women in combat roles in the military.

Regius Professorship in Manufacturing Award :

Eminent Indian-origin professor Lord

Kumar Bhattacharyya has been awarded

the prestigious Regius Professorship in

Manufacturing by Queen Elizabeth II for his

outstanding contribution in manufacturing.

International Dublin Literary Award :

Indian-American author Akhil Sharma won

the prestigious 100,000-euro International

Dublin Literary Award, the world's richest

award for a single novel, for his second

novel 'Family Life'.

Order of Friendship Honour :

UN Secretary-General Ban Ki-moon

has been honored with Russia's Order of

Friendship.

American Cinematheque Award :

Director Ridley Scott will be honored with

the 30th American Cinematheque award

during the organizations annual benet gala

October 14 at the Beverly Hilton.

Indian of the Year award :

National award-winning actor Kangana

Ranaut, ace Director SS Rajamouli and

Bollywood sensation Ranveer Singh got

the creme de la creme at the CNN-News18

'Indian of the Year' 2015 awards for their

contribution to the world of cinema.

US award for diabetes research :

Bariatric surgeon Shashank S Shah has

been honoured with the American Diabetes

Association's 'Vivian Fonseca Scholar'

Award 2016 for his contribution in the eld

of gastric bypass surgery for diabetes.

Highest Civilian Award of Ivory Coast :

President Pranab Mukherjee was awarded

the highest civilian award of Ivory Coast,

the National Grand Crois. The award was

conferred on him during his two days visitto the West African country.

LeEco partners with Bollywood IIFA awards 2016 :

Chinese internet and technology

conglomerate LeEco has signed up as the

ofcial sponsor of the 17th International

Indian Film Academy (IIFA) awards 2016

that was held in Madrid, Spain, from June

23 to 26.LeEco is now working with Eros

Now, Yupp TV and Hungama in India.

2016 PEN Pinter Prize :

Margaret Atwood is awarded with 2016PEN Pinter Prize celebrating her political

activism, describing herself as a stand-

in for the thousands of people around the

world who speak and act against [human

rights] abuses.

63rd Filmfare Awards southern edition :

Mahesh Babu won the Best Actor for Telugu

drama "Srimanthudu", while Nayanthara

bagged the Best Actress trophy for her

performance in Tamil action-comedy "Naanum

Rowdydhaan" for the year 2015 at the star-

studded 63rd Filmfare Awards southern edition.

Rajarshi Shahu award :

Nationalist Congress Party president Sharad

Pawar has been selected for the prestigious

Rajarshi Shahu Puraskar 2016.

UK's digital archive on war hero :

Britain has launched a new digital archive

telling the inspiring stories of war heroes,

including six Indians, as part of the UK

governments centenary celebrations to

mark World War I.

Global Meteorological Award :

A Chinese scientist Zeng Qingcun, a Chinese

Academy of Sciences (CAS) member,

has won the International Meteorological

Organisation Prize, the world's top prize for

meteorological work bestowed by the World

Meteorological Organisation (WMO).

UN honour for Corporate Sustainability Initiativ :

An Indian social entrepreneur has been

named among 10 "champions and pioneers"

by UN Chief Ban Ki-moon under the

world's largest corporate sustainability

Awards of the Month


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initiative that calls on companies to align

with universal principles of human rights,

environment and anti-corruption.

2016 BET Awards :

It was Beyonce who kicked off the star-studded 2016 BET awards, got the award of

'Video of the Year' for her video 'Formation'

also get awards in other categories too.

The star-studded award ceremony was held

at the Microsoft Theater in Los Angeles.

Great Immigrants Award :

Indian-origin Google CEO Sunder Pichai

and three other Indian-Americans are amongthe 42 US nationals honoured with this

years prestigious Great Immigrants: The

Pride of America award.


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Eulogies of the Month

Prabir Mukherjee :

Former chief curator of the Cricket

Association of Bengal (CAB) Prabir

Mukherjee, who was known for his no-

nonsense steadfast approach, died at a city

hospital after a prolonged illness in Kolkata.

Razzak Khan :

Actor Razzak Khan, who is popularly

known for his role of Manikchand in Shah

Rukh Khan starrer Baadshah, passed away.

The list of his popular lms include Hello

Brother, Joru Ka Ghulam and Kyaa Kool

Hain Hum and many more.

Muhammad Ali :

Muhammad Ali, the former world

heavyweight boxing champion and one of

sport's most inuential individuals, has died

aged 74.

K.K. Katyal :

The Hindu's former Delhi Chief of Bureau

and veteran journalist K.K. Katyal passedaway in a Delhi hospital after a brief illness.

Mr. Katyal was 88.

Gordie Howe :

Canada's hockey icon Gordie Howe has died

after a lengthy illness, his family conrmed.

He was 88 years old.Nicknamed as "Mr.

Hockey", Howe is considered one of the

greatest ice hockey players of all time and

an ironman in many respects both on and off

the ice.

Achyut Lahkar :

Veteran theatre personality Achyut Lahkar

died at the age of 85 at his residence in

Barpeta district, leaving a pall of gloom in

the theatre world.

Mudrarakshas :

Famous Hindi novelist and critique

Mudrarakshas died of old age related

causes. He was 82. Born on June 21, 1933

in Lucknow, Mudrarakshas' original name

was Subhash Chandra, who wrote novels

and other forms of Hindi prose besides

producing literature for children with his penname.

Ann Morgan Guilbert :

The Nanny star Ann Morgan Guilbert

lost her battle with cancer at the age of

87.Guilbert was best known for her ve-

season run on classic sitcom Dick Van

Dyke Show.

Manimala Devi :

Noted theatre personality and popular

yesteryear Odia lm actress Manimala Devipassed away.She was 90.

John Ashe

John Ashe, a former United Nations General

Assembly president accused by U.S.

prosecutors of taking $1.3 million in bribes

from Chinese businessmen, has died at age

61.

Neil O'Brien :

Neil O'Brien, former MP of the Lok Sabha

and erstwhile member of West Bengal

Assembly is dead at the age of 82 years . He

was survived by his wife and three sons.

Austin Clarke :

Austin Clarke, the award-winning

Barbadian-born author who wrote about the

immigrant experience and being black in

Canada, has died at age 81.

Clarke won the prestigious Scotiabank Giller

Prize and the Commonwealth Writers Prize

for his 2002 novel "The Polished Hoe."

K G Subramanyan :

Legendary artist K G Subramanyan,

credited with being one of the pioneers

of Indian modern art, passed away in

Vadodara at the age of 92.

Kishore has published over 40 books of

the late artist, fondly referred to as 'Mani

Da'.


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June 1 : Indian two wheeler manufacturer Hero Moto

Corp Ltd has extended its Title Sponsorshipof the popular Caribbean Premier League

(CPL) for another three years. With this

extension, the mega cricketing event will

continue to be called the 'Hero Caribbean

Premier League' until the 2018 season.

June 1 : Nuwan Kulasekara, the 33-year old Sri

Lanka seamer, has announced his retirement

from Test cricket.Kulasekara played his last

Test in June 2014 at Lord's, where Sri Lanka

clung on to a nail-biting draw.

June 1 : England paceman James Anderson has toppedthe ICC Player Rankings for Test Bowlers for

the rst time in his career after bowling his

side to a nine-wicket victory over Sri Lanka

in the second Test.

June 1 : Retired Chinese tennis star Li Na has been

named the 60th member of the Laureus

World Sports Academy.

June 2 : Country's leading broadcaster

Star India announced that it has bagged

exclusive broadcasting rights for the next

ve French Open from 2017 to 2021.

June 2 : A consortium of investors, including

Telugu lm stars Chiranjeevi and Akkineni

Nagarjuna, joined cricket legend Sachin

Tendulkar as co-owners of Indian Super

League franchise, Kerala Blasters.

The consortium has purchased stake in

Blasters Sports Pvt Ltd, the owners of Kerala

Blasters Football Club.

June 2 : Virat Kohli, is in irresistible form in

Twenty20 cricket and being the captain of

the Indian Test team, has found himself in

the top ten of the global sports fame list puttogether by ESPN. Kohli was at No. 8 in the

ESPN World Fame 100 rankings.

June 2 : India, who beat Laos 1-0 in Vientiane in

a play-off match of the 2019 Asian Cup

Qualiers are one place behind Myanmar

among the Asian countries at 29th place.

Iran and Korea are the two highest ranked

teams in Asia, at 39th and 50th respectively.

June 6 : Novak Djokovic captured his rst French

Open for the 12th time, becoming just the

third man in history to hold all four Grand

Slam titles at the same time. Djokovic, 29,

also put himself halfway to the calendar

Grand Slam, last achieved by Laver 47 years

ago.

Victory also allowed Djokovic to stretch hiswinning record over 29-year-old Murray to

24-10 overall and 8-2 in Grand Slams.

June 6 : The Capital city of Uttar Pradesh, Lucknow

will host this year's FIH Junior Men's

Hockey World. Cup. The countries that will

participate in the Junior World Cup, include

hosts India, Argentina, Autralia, Austria,

Belgium, Canada, Egypt, England, Pakistan,

Germany, Japan, Korea, Netherlands, New

Zealand, South Africa and Spain.

The competition would be aired live in 100

countries of the world.

June 6 : Veteran Malaysian shuttler Lee Chong Wei

and Chinese Taipei's rising star Tai Tzu Ying

won the men's singles and women's singles

titles respectively in the Indonesia Open

Superseries.

June 6 : Indian tennis star Rohan Bopanna ofcially

returned to top-10 in the ATP ranking

doubles chart, securing a direct entry into

the mens doubles event of the Rio Olympic

Games.

June 7 : Serena Williams may have lost in the nalof the French Open, but she has claimed

the top spot in terms of being the world's

highest paid female athlete.According

to Forbes magazine, Williams has beaten out

fellow tennis player Maria Sharapova for the

number one spot.

June 7 : India's two-wheeler manufacturing major

Hero Moto Corp Ltd will be the title sponsor

of the men's Hockey Champions Trophy

2016 which will be held in London from

June 10-17.

June 8 : CONMEBOL president Alejandro

Dominguez has let slip that Brazil will host

the Copa America in 2019.

June 9 : Germany and Arsenal's star midelder

Mesut Ozil was announced as Laureus Sport

for Good Ambassador.In 2013, Ozil signed

for Arsenal, where he currently plays and

regularly tops the assist charts.

June 9 : Maria Sharapova has been suspended for two

years by the International Tennis Federation

for testing positive for meldonium at the

Australian Open.

Sports News of the

Month


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June 10 : Tamil Nadu teenager the 17-year-old and

International Master N R Visakh created

history by becoming the rst Indian to clinch

the Mumbai Mayor's International Open

Chess Tournament.

June 11 : Olympic champion shooter Abhinav Bindra

was chosen as the agbearer of the Indian

contingent at the Rio Games going to be

held from 5th of August, 2016.

June 13 : The Indian men's 4x400m relay team created

a new national record, clocking 3:02.17 at

the International Sprint and Relay Teams

Cup and have broken the 18 year old record.

They bettered the previous record of 3:02.62

set at the 1998 Asian Games in Bangkok.

June 13 : Lewis Hamilton has closed to Nico Rosberg's

world championship lead after beating

Ferrari's Sebastian Vettel to victory in a tense

Canadian Grand Prix.

June 14 : Former Liverpool star 35-year-old John Arne

Riise, who also played for Delhi Dynamos

FC, has announced his retirement from

professional football.

June 15 : Limited overs skipper Mahendra Singh

Dhoni became the rst Indian wicket keeper

and fourth in the world to complete 350

dismissals in One-Day International (ODI)

cricket. Playing in his 278th match, Dhonihas taken 261 catches and effected 89

stumpings.

June 16 : Indian-origin British boxer Sanjeev Singh

Sahota has been roped in to ght in one of

the six supporting contests during Vijender

Singh's WBO Asia title bout against

Australian Kerry Hope on July 16.

June17 : Commander Ashutosh Pednekar of

Indian Navy made sports history when he

became the rst Indian to participate and

win International tournaments in sport of

Racketlon.

June 18 : India were pipped by reigning world

champions Australia 1-3 via penalty shootout

to settle for their maiden silver medal in the

Hockey Champions Trophy,after 36 years.

However, it was Indias best performance

in the history of the tournament. Indias

previous best performance in the Champions

Trophy was a bronze medal in 1982.

June 20 : Mercedes' German driver Nico Rosberg won

the European Grand Prix at the Baku City

Circuit here, tightening his hold on the top

spot in the Formula One drivers' standings.

June 20 : The 31-year-old, American golfer Dustin

Johnson has ended his long wait for a major

championship by winning the 116th US

Open on a dramatic day at Oakmont CountryClub.

June 22 : Striker Lionel Messi became Argentina's all-

time top goalscorer with 55 goals, surpassing

Gabriel Batistuta's record of 54 goals in 78

games.

June 25 : A 10th place nish in 50m pistol qualication

was compensated by a silver in the 10m

air pistol by Jitu Rai as the Indian secured

a podium nish at the ISSF World Cup in

Baku, Azerbaijan.

This was Jitu's sixth World Cup medal

overall.

June 27 : Ace footballer Lionel Messi announced

retirement from International Football after

Argentina's loss in Copa America nal.

June 27 : Argentina claimed a record seventh

Champions Trophy title after beating

reigning World and Olympic champions the

Netherlands by 2-1 in the women's nal at

the Lee Valley Hockey and Tennis Centre in

London.

In the bronze medal game, USA battled to

a shootout victory over Australia, giving theteam a rst Champions Trophy medal since

wining bronze at the 1995 event in Mar del

Plata, Argentina.

June 27 : Anju Bobby George and Pullela Gopichand

were named as the members of Khelo

India. Khelo India is a national programme

launched by the Union Government for the

development of sports in the country.

June 27 : Holders Chile stunned Argentina to win the

Copa America Centenario in a penalty shoot-

out as Lionel Messi's title curse struck again.

It was a carbon copy of 2015 Copa America

nal, also won by Chile on penalties after a

goal less draw.

June 28 : Brazil has been chosen to host The Copa

America 2019, the world's oldest competition

among national soccer teams.

Brazil last hosted the tournament in 1989.

This will be the fth time that the Copa

America is played in Brazil, which hosted

the event in 1919, 1922, 1949 and 1989.


17/31



Science News of the

MonthJune 1 : NASAs Solar Dynamics Observatory has

spotted a giant dark area on the upper half of

the Sun known as a coronal hole.

June 7 :The new research, conducted by leading

scientists at the University of Shefeld in

the UK, has revealed how branched DNA

molecules are removed from the iconic

double-helical structure, a process which

scientists have been looking to unlock for

over 20 years.

June 13 :China launched a satellite to support its

global navigation and positioning network on

June 12.It is the 23rd satellite in the BeiDouNavigation Satellite System (BDS), which is

being developed as an alternative to US GPS.

June 22 :The Indian Space Research Organisation

set a new record of launching 20 satellites,

including India's Cartosat-2 series and those

the US, Germany, Canada and Indonesia

Setting a record in its space programme.

June 23 :China has launched its rst dark sky reserve

in the Tibet autonomous region's NgariPrefecture.The reserve covers an area of

2,500 square kilometers and aims to limit

light pollution by stepping up protection

of dark-sky resources for education and

tourism development.

June 29 :China launched its second Shijian-16 series

satellite.The satellite was carried by a Long

March-4B rocket and took off at 11:21 am

from the Jiuquan Satellite Launch Center in

Northwest China.It was the 231st by a Long

March rocket.The rst Shijian-16 satellite

was launched in October 2013.

June 30 : India successfully test red a new surface-

to-air ,medium range missile (MR-SAM)

developed jointly with Israel, from a

defence base off Odisha coast.


18/31



Miscellaneous News of theMonth

June 1 : According to the report by New World Wealth,India has been ranked seventh in the list of top

10 wealthiest countries in the world, which was

topped by the United States with total individual

wealth of $48,700 billion.

June 2 : Two Indian-origin women have been featured

in the Forbes' annual list of America's 60

wealthiest and most successful self-made

women entrepreneurs who have "crashed

ceilings through invention and innovation".

June 3 : The book, The Unseen Indira Gandhi

Through Her Physicians Eyes, written by Dr

K P Mathur, who was Indiras physician, wasreleased.

June 6 : Pegging India's 'black economy' at over Rs

30 lakh crore or about 20 per cent of total

GDP, a new study said it has been contracting

gradually over the years but still remains

bigger than the overall economic size of

countries like Thailand and Argentina.

June 6 : India has jumped 13 positions from last

year to rank second among 30 developing

countries this year on ease of doing business

& China topped according to a study of

A T Kearney 2016 GRDI (Global Retail

Development Index).

June 6 : Actress Dia Mirza has been named the

ambassador for Swachh Bharat's youth

based Swachh Saathi (student internship)

programme. Dia is a youth icon and has been

an active campaigner for Swachh Bharat.

June 7 : Guwahati, Assam became the rst city in the

country to have its own city animal with the

Kamrup metropolitan district administration

declaring the Gangetic River dolphin as its mascot.

June 7 : The coast guards of India and SouthKorea conducted a joint exercise 'Sshyog-

Hyeoblyeog-2016' in Bay of Bengal off

Chennai from June 8 to 11.

June 8 : Fashion designer and AIDS activist Kenneth

Cole was named an international goodwill

ambassador by the head of the U.N.s AIDS-

ghting organization.

June 8 : Arundhati Bhattacharya , the rst woman

chairperson of the nation's largest bank SBI,

has been ranked among the top ve most

powerful women in nance by the Forbes

magazine. She is also ranked 25th in Forbes'

list of 'The World's 100 Most Powerful

Women', which features top female

leaders, entrepreneurs, investors, scientists,

philanthropists and CEOs.

June 9 : India has surpassed Japan to become theworld's third-largest oil consumer, with its

oil demand galloping 8.1 per cent in 2015,

according to BP Statistical Review of World

Energy released .

June 9 : India was ranked at 141st place on a Global

Peace Index -- making it less peaceful

than countries like Burundi, Serbia and

Burkina Faso -- with violence taking a US

$680-billion toll on its economy in 2015.

June 9 : A 30-year old Indian entrepreneur Umesh

Sachdev has been named by Time magazine

to its 2016 list of "10 millennials who arechanging the world" for building a phone

which can help people to interact and access

critical services by communicating in their

native languages.

June 11 : India, Japan and the US completed their

annual naval war exercise named Malabar

Exercise near South China Sea. The 8-day

joint exercises saw in action over 100

aircraft and 22 naval ships including a

nuclear submarine.

June 14 : The Stockholm International Peace Research

Institute (SIPRI) launched its annual nuclear

forces data, which highlighted the current

trends and developments in world nuclear

arsenals.

June 14 : Two more Indian Institutes of

Technology (IITs) broke into the top-50

in the latest Quacquarelli Symonds (QS)

University Rankings Asia 2016.Among

Indian universities featuring in the top-50

list in the QS University Rankings Asia, IIT

Bombay and IIT Madras joined the likes of

Indian Institute of Science (IISc) Bangalore

(33), IIT Bombay (35) and IIT Delhi (36).

June 15 : With occupancy cost of $149.71 (Rs 10,030)

per sq ft, New Delhis Central Business

District (CBD) of Connaught Place was

ranked as the seventh most expensive

prime ofce market in the world.

June 16 : Anne Hathaway has been named as a global

goodwill ambassador for UN Women,

following in the footsteps of Emma

Watson and Nicole Kidman. The Oscar-

winning actress will be working with the

organisation to advance gender equality.


19/31



June 17 : Just Dial, UTI Asset Management

Company and IRCTC are among the rms

that have made it to the Fortune Next 500 list

of Indian companies, which has been topped

by Dynamatic Technologies.

June 17 : India's commercial-hub Mumbai has been

rated as the least expensive on the basis cost

of living in the Asia Pacic (APAC) region,

according to a visual analytics app.

Qlik has developed a new Qlik APAC cost

of living app for consumers that allows

them to quickly and easily compare the

cost of living across eight key cities in Asia

Pacic (APAC) - Mumbai, Hong Kong,

Kuala Lumpur, Seoul, Shanghai, Singapore,

Sydney and Tokyo.

June 18 : India's rst women ghter pilots - BhawanaKanth, Avani Chatuvedi and Mohana Singh -

were commissioned in the Indian Air Force.

June 20 : A record 65.3 million people were uprooted

worldwide last year, many of them eeing

wars only to face walls, tougher laws and

xenophobia as they reach borders, the United

Nations refugee agency.

June 21 : Prime Minister Narendra Modi announced

two yoga awards - one international and

another national - to be given away on the

occasion of International Yoga Day.

June 21 : A well known yoga centre established by

an Indian and his Chinese wife has been

selected by China's prestigious Peking

University to conduct research in the ancient

Indian exercise form.

An MoU in this regard has been signed with

the varsity, said Mohan Singh Bhandari who

established 'Yogi Yoga' centre in 2003.

June 21 : A new Chinese computer system that can

make 93 quadrillions calculations per second

has claimed the top spot on the list of the

world's most powerful supercomputers.

The computer called Sunway Taihu Light

developed by the National Research Centre

of Parallel Computer Engineering and

Technology (NRCPC) is built entirely using

processors designed and made in China.

June 24 : Delhi, at the 22nd spot, become the only

Indian city to feature in tech giant Dell's

2016 Women Entrepreneur Cities Index (WECities) that looks at a city's ability to attract

and foster growth of women-owned rms.

June 24 : Star Sports Pro Kabaddi has witnessed some

thrilling edge of the seat action hosting a

new and modern avatar of the Indian Sport

Kabaddi. While previous seasons of Star

Sports Pro Kabaddi enthralled the audience

across segments, making it the second most

viewed sport in the country, a large chunk of

these fans comprised of celebrities.

June 28 : India was ranked low at 105th positionglobally on a worldwide Human Capital

Index, which measures countries ability

to nurture, develop and deploy talent for

economic growth and was topped by Finland.

This index released by Geneva-based World

Economic Forum (WEF).

June 29 : India has jumped 19 places in the latest

World Bank ranking in the global logistics

performance, reecting the improvement in

movement of goods inside the country thus

facilitating better trade.

The World Bank in its latest once-in-two-year

Logistics Performance Index (LPI) stated

that India is now ranked 35th as against the

54th spot it occupied in the previous 2014

report.

June 29 : The Prime Minister Narendra Modi released

a book titled The Birds of Banni Grassland

in New Delhi. The book was presented to the

Prime Minister by the Scientists of Gujarat

Institute of Desert Ecology (GUIDE).

The Book is a compilation of the researchwork, relating to more than 250 species

of birds found in the Banni area of Kutch,

Gujarat.


20/31


21/31



IMPORTANT DAYS1st June World Milk Day

5th June World Environment Day; Cancer

Survivors Day8th June World Oceans Day

11th June Coal Miners Day

12th June Anti-Child Labour Day

14th June World Blood Donor Day

15th June ASEAN Dengue Day ; World Elder

Abuse Awareness Day

17th June World Day to Combat Desertication

and Drought

18th June Autistic Pride Day

19th June Father's Day

20th June World Refugee Day

21st June World Hydrography Day ;

International Yoga Day

23rd June International Olympic Day

26th June International Day against Drug

Abuse and Illicit Trafcking

ABBREVIATIONSGFD Gross Fiscal Decit

NSG Nuclear Supplier Group

MTCR Missile Technology Control Regime

NDRF National Disaster Response Force

IAFS India Africa Forum Summit

GRDI Global Retail Development Index

IEP Institute For Economics & Peace

SIPRI Stockholm International Peace Research

Institute

DGCA Directorate General of Civil Aviation of

India

NISE National Institute of Solar Energy

BDS Bei Dou Navigation Satellite System

PSPB Petroleum Sports Promotion Board

EESL Energy Efciency Services Limited

DIPP Department of Industrial Policy and

Promotion

IWAI Inland Waterways Authority of India

IPGPL India Ports Global Private Ltd.

DTTI Defence Technology & Trade Initiative

NIGEB National Institute of Genetic Engineering

& Biotechnology

GFC Gross Fiscal Decit

SECI Solar Energy Corporation of India

SIC Science & Innovation Council

OECD Organization for Economic Cooperation

& Development


22/31



SPECIAL FEATURES

BSE gets RBI nod for online bidding platform for

Sovereign Gold Bond scheme

BSE, Asia's oldest bourse, has received the Reserve

Bank's approval to start an online bidding platform for

Sovereign Gold Bond scheme.

SGBs - government securities denominated in grams of

gold - offer an alternative to holding gold in physical

form.

The bond is issued by RBI on behalf of government

and investors can apply for the bonds at the price as

disseminated by RBI.

In a circular BSE said that it has received approval from

the Reserve Bank of India (RBI) for acting as a receiving

ofce for the Sovereign Gold Bond scheme.

The exchange plans to offer an online bidding platform

for collecting bids from members and their clients for the

SGB issue.

This bidding platform is part of the IBBS (Internet-based

Book Building System) - exchange's existing web-based

online bidding platform for IPO, Offer for Sale, offer to

buy issues.

Government of India and Asian Development Bank

Sign $120 Million Loan Agreement to Modernize

Irrigation and Improve Water Management in Odisha

Government of India and the Asian Development Bank

(ADB) signed a $120 million loan agreement to improve

irrigation and water management infrastructure in Odisha.

The loan is the second tranche of a $157.5 million

nancing facility under the Orissa Integrated IrrigatedAgriculture and Water Management Investment Program.

The nancing will be used for modernizing seven

irrigation subprojects resulting in improved irrigation in

over 100,000 hectares, and strengthening of Water User

Associations (WUAs) and the institutional capacity of

Odisha's Department of Water Resources.

The selected areas for the investment program are the

Baitarani, Brahmani, Budhabalanga, and Subernarekha

river basins and part of the Mahanadi delta.

Raj Kumar, Joint Secretary (Multilateral Institutions),Department of Economic Affairs and. M. Teresa Kho,

Country Director, ADB's India Resident Mission signed

the loan agreement on behalf of Government of India and

ADB respectively.

A separate project agreement was signed by. P.K. Jena,

Principal Secretary, Water Resource Department of

Government of Odisha.

Arundhati Bhattacharya 5th most powerful woman in

nance: Forbes

Arundhati Bhattacharya , the rst woman chairperson of

the nation's largest bank SBI , has been ranked among the

top ve most powerful women in nance by the Forbes

magazine.

SBI said in a statement that Bhattacharya has moved up

ve spots from the previous year to 5th this year.

She is also ranked 25th in Forbes' list of 'The World's

100 Most Powerful Women', which features top


23/31



female leaders, entrepreneurs, investors, scientists,

philanthropists and CEOs.

Bhattacharya has been instrumental in transforming the

over 200 year-old bank into technology-driven lender

with SBI in TOUCH digital banking outlet, mobilewallet State Bank Buddy, State Bank Anywhere - a retail

internet banking based application for smartphones, SBI

Tech Learning Centres for educating customers and SBI

e-Pay, a payment aggregator service, among others.

Under her leadership, SBI grew its network to around

17,000 branches and services over 330 million customers

with presence in 36 countries.

Connaught Place world's seventh most expensive

ofce market

According to CBRE Research's Global Prime Ofce

Occupancy Costs bi-annual survey, with occupancy cost

of $149.71 (Rs 10,030) per sq ft, New Delhis Central

Business District (CBD) of Connaught Place ranks as the

seventh most expensive prime ofce market in the world.

Connaught Place was ranked sixth in the previous CBREResearch's.

Global prime ofce occupancy costs which reect

rent, plus local taxes and service charges for the highest-

quality, prime ofce properties rose 2.4% year-on-

year. In Asia Pacic, prime ofce occupancy costs are

growing at a faster pace than average, up 2.7% year-

over-year. A few key Southeast Asian markets registered

decreases, including Singapore and Jakarta.

Asia continued to dominate the list of the worlds most

expensive ofce locations, accounting for seven of the top

ten markets, according to the survey, Beijing (Finance

Street) at $188 per sq. ft.), Beijing (Central Business

District (CBD) at $182 per sq. ft and Hong Kong (West

Kowloon at S$179 per sq. ft rounded out the top ve

positions. Apart from New Delhi (Connaught Place -

CBD), Tokyo (Marunouchi/Otemachi), and Shanghai(Pudong) also featured in the top ten list.

Suresh Prabhu launches Tiger Express train on the

World Environment Day

Railway Minister Suresh Prabhu agged off IRCTCs

Tiger Express from Safdarjung station. A semi-luxury

tourist train, Tiger Express is launched to spread

awareness among people regarding tiger conservation.

Flagging off the train using a remote control from

Mumbai, Prabhu said that it has been launched to spread

awareness about conservation of tigers.It is the rst semi-luxury train on a tourist circuit having a

dining car. According to IRCTC, the itinerary has a tariff

structure starting from Rs 38,500.

The package includes accommodation in air-conditioned

rooms of three stars or equivalent ranked hotels for three

nights, sightseeing, food, inter-city transfers and travel

insurance, according to the released statement.

Giving details of the itinerary, an IRCTC ofcial said

that during the ve-night-six-day trip, the train would

take passengers to Katni from where they will be taken to

Bandhavgarh by road for a safari.


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Smriti Irani launches 'Vidyanjali' to involve

volunteers into co-scholastic activities of schools

Union Minister for Human Resource Development,

Smriti Zubin Irani dedicated 'Vidyanjali'- a school

volunteer programme to the nation.

In her inaugural address, Irani said that Vidyanjali is a

step forward in creating an ecosystem, wherein education

will be attached with imbibing knowledge and improving

learning output.

The Union Minister added there is an ingrained sense of

participation and willingness within the people of this

country to contribute towards nation building.

The programme is designed to involve volunteers from

different walks of life to strengthen the co-scholastic

activities in government schools.

Vidyanjali, which is being implemented under the overall

aegis of the Sarva Shiksha Abhiyan, will enhance the

community involvement in government run elementary

schools and effectively engage children in reading,

creative writing, public speaking, play acting, preparingstory books etc.

Giving a nod to their ideas, the Minister assured to widen

the scope of Vidyanjali to include performing arts and

life skills.

She also urged the MyGov team to create a module under

Vidyanjali wherein NRI community or others, who want

to contribute by providing additional teaching-learning

aids like books etc. and other resources, can do so in

conjunction with state and district administration.

The programme is unique in that it gives the freedom to

the volunteers to design their activities in consultation

with the school.

The programme will be open for participation by

all Indian citizens including retired Professionals,

retired government ofcials, working professionalsm

homemakers and persons from the Indian Diaspora.

The programme will be piloted across 21 states which

committed to do so in the conference of state ministers of

Education held on February 8.

These states are Assam, Andhra Pradesh, Bihar,

Chhattisgarh, Delhi, Haryana, Himachal Pradesh, Gujarat,

Goa, Jammu and Kashmir, Karnataka, Madhya Pradesh,

Maharashtra, Manipur, Odisha, Punjab, Rajasthan,

Telangana, Tripura, Uttarakhand and Uttar Pradesh.


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UEFA EURO 2016-I# The 2016 UEFA European Championship, also known as UEFA Euro

2016 or simply Euro 2016, is the 15th edition of the UEFA European

Championship, is the quadrennial international men's football

championship of Europe organized by UEFA.

# It is started in France from 10th June to 10th July 2016.

# Spain is the two-time defending champions, having won 2008 and 2012

editions.

# It is for the rst time, the European Championship nal tournament will

be played by 24 teams that has been expanded from the 16-team format

used since 1996.

# France was chosen as the host nation on 28th May 2010, after a bidding

process in which they beat Italy and Turkey for the right to host the 2016

nals.

# The winning team earns the right to compete at the 2017 FIFA Confederations Cup hosted by Russia.

INLINE FACTS:

# Initially, 12 stadiums were presented for the French bid, chosen on 28th May 2010.

# These venues were to be whittled down to 9 by the end of May 2011, but it was suggested in June 2011 that 11

venues might be used.

HOST COUNTRY: FRANCE

# DATES: 10 JUNE -10 JULY 2016

# TEAMS: 24

# VENUES: 10


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UEFA EURO 2016-II

TEN HOST CITIES ARE

1. SAINT DENIS-STADE DE FRANCE (Capacity:

81,338)

2. MARSEILLE-STADE VELODROME (Capacity:

67,394)

3. LYON (Capacity: 59,286)

4. LILLE (Capacity: 50,186)

5. PARIS (Capacity: 48,712)

6. BORDEAUX (Capacity: 42,115)

7. SAINT ETIENNE (Capacity: 41,965)

8. NICE (Capacity: 35,624)

9. LENS (Capacity: 38,223)

10. TOULOUSE (Capacity: 33,150)

Note: Capacity gures are for matches at UEFA Euro

2016 and are not necessarily the total capacity that the

stadium is capable of holding.

Teams base camps:

Each and every team has their "team base camp" for their

stay between the matches.

From an initial list of 66 bases, the 24 participating teams

had to conrm their selection with UEFA by 31st Janu-

ary 2016.

Match Ball: Beau Jeu (Unveiled in 12 Nov 2015)

Mascot: Super Victor (Unveiled in 18 Nov 2014)

Logo and Slogan:

LOGO: The ofcial logo was unveiled on 26th June 2013, dur-

ing the ceremony at the Pavillon Cambon Capucines in Paris.

Conceived by Portuguese agency Brandia Central, which

also created the visual identity for the previous European

Championship, the design is based on the theme "Cel-

ebrating the art of football".

The logo includes HENRI DELAUNAY TROPHY and

the blue, white and red colours of the French ag, sur-

rounded by a mixture of shapes and lines representing

different artistic movements and football elements.

SLOGAN:On 17th October 2013, UEFA announced the

ofcial slogan of the tournament i.e. Le Rendez-Vous.

Asked about its meaning, Jacques Lambert, chairman of

the Euro 2016 organizing committee, told that the slogan

"is much more than a reminder of dates and venues".

He further explained that "UEFA is sending out an invita-

tion to football fans throughout the world and to lovers

of major events, an invitation to meet up and share the

emotions of an elite-level tournament.

Ofcial songs:

The competition's ofcial opening song is THIS ONES

FOR YOU by DAVID GUETTA featuring ZARA

LARSON and the ofcial closing song is "Free Your

Mind" by Lavelle.

It was reported that David Guetta sought one million fans

to add their voices to the ofcial anthem via a website.

Source: e-architect.co.uk


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Financial Inclusion in New Avatar: India Post Payment Bank

The main challenge, banks today face in nancial inclusion is the lack of last mile connectivity - Rudra Sensarma,

Professor of Economics, IIM, Kozhikode, Kerala.

Objective:

# Converting Post ofce to bank.

# Providing a strong network to PAN India location focusing specically on rural areas.

# Joint effort of Government of India & RBI to improve the efciency of passing on the government sponsored

benets to the beneciary directly through their bank account.

# As per the payment bank norms Post ofce will also accept the deposit up to 1 lac.

# Will sell Insurance and Mutual funds and pension products as comparing with banks and nancial institute of

India.

Difculties:

# Business Correspondence Model not executed as planned.

# Banks simply do not have the kind of presence required to target the vast unbanked population in the rural areas

and even urban poor.

# Expanding the Investment saving scheme by providing deposit facility with ATM cards.

# Extensive training in handling these products, specically insurance and pension products as they are different

nancial products in India Posts portfolio.

Investment Plan:

The government may spend Rs. 400 crore on the proposal with Rs. 400 crore more coming from equity.


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PSLV-C34

# PSLV-C34 / Cartosat-2 series satellite

# Indias Polar Satellite Launch Vehicle, in its 36th ight

(PSLV-C34), launches the 727.5 kg Cartosat-2 series

satellite for earth observation and 19 co-passenger

satellites together weighing about 560 kg at liftoff

into a 505 km polar Sun Synchronous Orbit (SSO).

# PSLV-C34 was launched from the Second Launch Pad

(SLP) of Satish Dhawan Space Centre (SDSC) SHAR,

Sriharikota on June 22, 2016 at 09:26 hrs (IST).

# This is the fourteenth ight of PSLV in XL conguration

(with the use of solid strap-on motors).

# The co-passenger satellites are from USA, Canada,

Germany and Indonesia as well as two satellites

(SATHYABAMASAT and SWAYAM) are from

Indian universities.

# SATHYABAMASAT (Satellite from Sathyabama

University, Chennai)

# Mission objectives: To collect data on green house

gases (Water vapor, Carbon monoxide, Carbon dioxide,

Methane and Hydrogen uoride)

# Launch Mass: 1.5 kg

# Launch Date: Wednesday, June 22, 2016

# Launch Vehicle: PSLV-C34 / Cartosat-2 series satellite

# Type of Satellite: Student

# SWAYAM (Satellite from College of Engineering,

Pune)

# Mission objectives: To provide point to point

messaging services to the HAM Community.

# Launch Mass: 1 kg

# Launch Date: Wednesday, June 22, 2016

# Launch Vehicle: PSLV-C34 / Cartosat-2 series satellite

# Type of Satellite: Student


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BANCASSURANCE

# Bancassurance is the partnership or relationship be-

tween a bank and an insurance company, or a single

integrated organization, whereby the insurance com-

pany uses the bank sales channel in order to sell in-surance products.

# It is also called bank insurance model (BIM) and also

sometimes known as allnanz.

# BIM allows the insurance company to maintain

smaller direct sales teams as their products are sold

through the bank to bank customers by bank staff and

employees as well.

Inline Facts:

# Bancassurance is a French term referring to the sell-

ing of insurance through a banks established distri-

bution channels.# In some countries, bancassurance is still largely pro-

hibited, but it was recently legalized in countries like

USA.

# Bancassurance is the selling of insurance and bank-

ing products through the same channel, most com-

monly through bank branches.

# Bank staff are advised and supported by the insur-

ance company through product information, market-

ing campaigns and sales training.

# Bancassurance primarily rests on the relationship the

customer has developed over a period of time withthe bank.

# Under Bancassurance the bank and the insurance

company share the commission.

# BIM is extremely popular in European countries

such as Spain, France and Austria.

# Privatbancassurance, a new kind of Bancassurance

was pioneered by Lombard International Assurance

and now used globally.

# The concept combines private banking and invest-

ment management services with the sophisticated

use of life assurance.

# Bancassurance is an efcient distribution channel

with higher productivity and lower costs than tradi-

tional distribution channel.

Three kind of models used in Bancassurance :

1. Strategic Alliance Model: The bank only markets theproducts of the insurance company.

Except for marketing the products, no other insur-

ance functions are carried out by the bank.

2. Full Integration Model: The bank sells the insurance

products under its brand acting as a provider of nan-

cial solutions matching customer needs.

Under such an arrangement the Bank has an addition-

al core activity almost similar to that of an insurance

company.

3. Mixed Models: Under this Model, the database of the

bank is sold to the insurance company.# The approach requires very little technical invest-

ment.

Advantages of Bancassurance:

# Bancassurance offers another area of protability to

banks with little or no capital outlay.

# A small capital outlay in turn means a high return

on equity.

# Today, convenience is a major issue in managing a

persons day to day activities.

#

A bank, which is able to market insurance products,has a competitive edge over its competitors.

# It can provide complete nancial planning services

to its customers under one roof.

# Opportunities for sophisticated product offerings.

# Opportunities for greater customer lifecycle

management.

# Diversify risks by tapping another area of protabil-

ity.


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FISCAL RESPONSIBILITY ANDBUDGET MANAGEMENT (FRMB) ACT

# THE COMMITTEE WAS CONSTITUTED ON IT

ON 18 MAY 2016.

# IT BECOME AN ACT IN 2003.

OBJECTIVE:

# In long-run macro stability.

# Coordination between scal & monetary policy.

# Transparency in scal operation of the government.

# FRBM rules in July 2004 to specify the reduction of

scal decit to 3% of government of India by 2008-09.

# Union government constituted N.K Singh committee

as on 18 may 2016.

# It is a 5 member committee to review FRBM

roadmap for future.

Members are:

1. Former nance revenue secretary & Rajya Sabha

member N.K SINGH.

2. Former nance & revenue secretary SUMIT BOSE.

3. Chief economic advisor Dr. ARVIND

SUBRAMANIAN.

4. Deputy Governor of RBI URJIT PATEL.

5. Director of National Institute Public Finance Policy

(NIPFP) RATHIN ROY.

# The committee was constituted as per announcement

made by the Union Finance Minister, Mr. Arun

Jaitley in 2016-17 budget speech.

# The committee will summit its report to the union

government by 31st October 2016.

TERMS & REFERENCE OF THE COMMITTEE:

# It will review working of FRBM Act 2003 over last

12 years & suggest the way forward.

# Suggestions should be submitted keeping in view

the broad objective of Fiscal consolidation, prudence

and change required in context.

# Panel will consult other government department

outside experts about the changes and the

amendments.


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Documents

Competition Booster English 2016