Gyanm general awareness_monthly_issue_november_2015

GENERAL AWARENESS – NOVEMBER 2015 1
NEW GOLD SCHEMES
GOLD BOND SCHEME
Who will issue gold bonds?
The Reserve Bank of India (RBI), on behalf of the government.
How to buy these?
Purchases can be made from banks, non-banking financial
companies, post offices, National Saving Certificate agents and
others. They will collect, as well as redeem, these bonds on behalf of
the government.
The Know Your Customer norms?
The same as for buying gold. A permanent account number (PAN)
card required for investments above Rs 50,000.
The units in which they will be available?
5, 10, 50, 100 grams of gold or other denominations. It will be
available both in demat and paper form.
The maximum quantity I can purchase annually?
500 grams
Will I be charged for buying or selling gold bonds?
No. The issuing agency will need to pay distribution costs and a
sales commission to the intermediate channels, to be reimbursed by
the government.
What price of gold will be considered?
The price of gold might be taken from the reference rate, as decided,
and the rupee equivalent amount may be converted at the Reserve
Bank of India reference rate on issue and redemption. This rate will
be used for issuance, redemption and loan-to-value (LTV) purpose
and disbursement of loans.
The rate of interest?
While the rate has not been decided, the government will take a call
on the rates based on the domestic and international market
conditions. Also, the rates could vary from one tranche to another.
It could be a floating or a fixed rate.
What will be the tenure of the bonds?
The tenure of the bond could be for a minimum of five to seven years
to protect investors from medium-term volatility in gold prices.
Can these be used as collateral?
Yes, they can be used as collateral for loans. The loan-to-value ratio
is to be set equal to ordinary gold loan mandated by RBI from time
to time.
Can I sell the bond in an emergency?
Bonds can be sold or traded on exchanges.
What will be the taxation?
The government will consider exemption for capital gains on
redemption of Sovereign Gold Bonds and indexation benefits in
Budget 2016-17.
GOLD MONETISATION SCHEME
How to start?
Open a gold savings account with any bank. The account will be
denominated in grammes of gold.
How to get gold valued?
Once you have opened the account, go to an assayor. After the
purity testing, the assayor will give a certificate that has to be given
to the bank. The bank will have a tripartite legal agreement with
refiners and collection and purity testing centres.
What will be the fee for getting the gold tested for purity?
No fee from the customer. The bank will pay the fee.
What is the minimum deposit? - 30 gms
What is the tenure?
Three tenures. Short term - one to three years (with a rollout in
multiples of one year); medium term - five to seven years; and long
term - 12-15 years.
Will there be a penalty for withdrawing in the interim?
Yes, much like a fixed deposit, breaking of the lock-in period will be
allowed. However, there would a penalty on premature redemption,
including partial withdrawal.
What will be the rate of interest?
For short term accounts, banks will decide the rate depending on the
international lease rates and market conditions. For medium- and
long-term deposits, the rate of interest will be decided by the govt.,
in consultation with RBI from time to time, denominated and
payable in rupees, based on the value of gold deposited.
Will I get physical gold on redemption?
Only for the short-term deposits. The customer will have the option
of redemption, for the principal deposit and interest earned, either in
cash (in equivalent rupees of the weight of deposited gold at the
prices prevailing at the time of redemption) or in gold (of the same
weight of gold as deposited). However, they have to indicate the
option at the time of making the deposit. In case you want to
change the option in the interim, it will depend on the bank's
discretion. Redemption of fractional quantity (for which a standard
gold bar/coin is not available) would be paid in cash.
For medium- and long-term deposits, redemption will be only in
cash, in equivalent rupees of the weight of the deposited gold at the
prices prevailing at the time of redemption. The interest earned will,
however, be based on the value of gold at the deposit on the interest
rate as decided.
Will there be tax on capital gains or interest income?
When you take the gold and convert to gold savings scheme, there
will be a capital gains tax. But after conversion, there is no tax on
interest (in gold grams) or capital gains in future.
Source: Business Standard, Sept. 14, 2015

GENERAL AWARENESS
NOVEMBER 2015
Vol. 4, Issue 05
A PUBLICATION OF GYANM EDUCATION &
TRAINING INSTITUTE PVT. LTD.
SCO 13-14-15, 2ND FLOOR, SEC 34-A, CHANDIGARH
Contents
CURRENT AFFAIRS
JULY TO SEPTEMBER 2015
01-37
BULLET NEWS
APRIL TO JUNE 2015
38-53
AGRICULTURE BYTES 54-60
SSC CORNER 61-66
LATEST 100 GK MCQs 67-76
6 MONTHS GK BYTES 77-100
FIGURES TO REMEMBER
REPO RATE (02.06.2015) 7. 25%
REVERSE REPO RATE 6.25%
MARGINAL STANDING
FACILITY RATE
8.25%
STATUTORY LIQUIDITY RATIO 21.5%
CASH RESERVE RATIO 4.00%
BANK RATE 8.25%
BASE RATE(s)
(of various banks)
9.70 to
10 %
INDIA’S RANK IN
Global Innovation Index 81st
Global Competitiveness 44th
In terms of Peace 143rd
Motherhood Index 140th
Environmental Democracy Index 24th
Human Capital Index 100th
Global Resilience Index 119th
Global E-Waste Monitor 5th
World Happiness Report 117th
Global Networked Readiness 89th
Social Progress Index 101st
Open Government Index 2015 37th
Press Freedom Index 2015 136th
Talent Competitiveness 78th
Travel and Tourism Index 65th
Corruption Perceptions Index 85th
The Web Index 2014 48th
Global Terrorism Index 2014 6th
Global Slavery Index 2014 1st
NATIONAL NEWS
SEPTEMBER 2015
INDIA 11TH IN TERMS OF ‘SUPERRICH’
The “World Wealth Report 2015”, released by Capgemini and RBC Wealth
Management, showed that there were 1.98 lakh High Net worth Individuals
(HNWIs) in India in 2014, placing the country at 11th rank in the world. The US
topped the list with 43.51 lakh millionaires, followed by Japan-24.52 lakh.
The report defines HNWIs as those having investable assets of $1 million (Rs 6.5
crore) or more, excluding primary residence, collectibles, consumables, and
consumer durables.
2 INDIAN UNIVERSITIES IN TOP 200
Only two of the Indian universities, The Indian Institute of Science, Bangalore
and the Indian Institute of Technology, Delhi (IIT-D) have been placed 147 and
179 respectively in the Quacquarelli Symonds’ list of top 200 universities for
2015-16, which has the Massachusetts Institute of Technology (MIT) and
Harvard at the top two positions.
INDIA RANKS 81ST IN INNOVATION
India's ranking has slipped further down to 81 in the list of Global Innovation
Index, compared to 76 in 2014, on account of factors like consistently poor
performance in ease of doing business, slow pace of policy decision-making and
changing political environment. The index is compiled for 141 countries by
Cornell University, INSEAD France and World Intellectual Property
Organization (WIPO).
9TH RPB DIWAS TO BE HELD IN LOS
ANGELES
The Government of India will be
organizing the 9th Regional Pravasi
Bharatiya Diwas (RPBD) at Los Angeles,
California, USA on the 14th and 15th
November 2015. This year’s theme will be
– “The Indian Diaspora: Defining a New
Paradigm in India-US Relationship”.

JOINT MEET OF INDIA AND BELARUS
The seventh session of India-Belarus Inter-
governmental Commission on Trade, Economic,
Scientific, Technological and Cultural Cooperation was
held on 7 September 2015 in Minsk, capital of Belarus.
The two countries agreed to increase bilateral trade to $
one billion by 2018, from the present level of $ 400
million.
FIRST EVER LEOPARD CENSUS
The first ever count of India's leopards, has put the
spotted cat population at 7,910 in and around tiger
habitats across the country, except the northeast.
Madhya Pradesh leads with around 1,817 leopards,
followed by Karnataka (1,129).
SAARC MEET ON DISASTER MANAGEMENT
A two day Disaster Mitigation conference of SAARC
nations was held in New Delhi on September 3-4 to
chalk out and undertake various joint efforts on various
issues related to disaster mapping and mitigation in the
member nations.
GOVT GETS AMBEDKAR’s HOUSE
Maharashtra govt has acquired the house at 10 King
Henry's Road, in northwest London where Dalit icon
and architect of Indian Constitution Dr B R Ambedkar
lived in 1921-22 when he was studying at London
School of Economics. The house will be turned into an
educational and cultural centre.
UIDAI SHIFTED TO I T MINISTRY
Government has decided to shift the administrative
control of the Unique Identification Authority of India
(UIDAI), which issues Aadhaar cards, from Niti Aayog
(erstwhile Planning Commission) to the Ministry of
Communication and Information Technology with a
view to make it integral part of Ministry’s Digital India
programme.
 Prime Minister Modi addressed the Sustainable
Development Summit at the UN Headquarters in New
York on Sep 25.
 Prime Minister Narendra Modi reached Dublin,
capital of Ireland on Sep 23 to have bilateral talks
with his Irish P M Endy Kenny.
 National award-winning Marathi film, 'Court' has
been selected to officially represent India at the 88th
Oscars next year in the Best Foreign Film category.
 Vice President Mohammad Hamid Ansari had a
four-day visit to the South East Asian countries of
Cambodia and Laos.
 Sri Lankan Prime Minister Ranil Wickremesinghe
arrived in New Delhi on Sep 14 to have delegation
level talks on various important bilateral issues.
 A two day Hindu-Buddhist Conference was held at
Bodhgaya, Bihar on Sep 5-6.
 All India Radio released the digital version of the
grand epic Ramcharitmanas as a set of digital CDs
produced by its old recordings.
 India and Indonesia have signed a treaty for
repatriation of wanted prisoners and cooperate in all
criminal matters.
 The three-day Vishwa Hindi Sammelan (World
Hindi Conference) was held in Bhopal, Madhya
Pradesh, Sept. 10-12.
AUGUST 2015
CENSUS 2011 RELIGIOUS DATA RELEASED
Census 2011 data released on August 25 shows that the
proportion of Muslim community has registered a
moderate 0.8 per cent growth from 2001 to 2011 to
reach 14.23 per cent, numbering 17.22 crore while
Hindus population share showed a decline by 0.7 per
cent to reach 79.80 per cent at 96.63 crore.
In terms of population growth, the national average
during 2001-11 was 17.7 percent. Growth of Muslim
population was 24.6 per cent while Hindus grew by 16.8
per cent only.
‘PAHAL’ ENTERS GUINNESS BOOK OF RECORDS
Pahal (Pratyaksh Hanstantrit Labh), the scheme to
transfer cooking gas subsidy directly into consumers'
bank account, has made it to the Guinness Book of
World Records as the world's largest cash transfer plan
for households. It is also called as Direct Benefit
Transfer for LPG (DBTL). Some 13.9 crore cooking gas
consumers are enrolled under Pahal.

BENGALURU AND MYSURU ARE THE CLEANEST
Bengaluru has been ranked as the cleanest among
capital cities in India and Mysuru as the most clean city
as per the Swachh Bharat ranking of 476 cities in the
country by the Urban Development Ministry. Two other
Karnataka cities — Hassan and Mandya are there in top
ten. Ranking is done on two parameters of cleanliness
— solid waste management and eradication of open
defecation.
MEETING POINT AT DAULAT BEG OLDIE
India and China opened their fifth border meeting point
on August 1 at Daulat Beg Oldie in northern Ladakh for
local military commanders on either side to sort out
local issues to prevent needless flare-ups. The four other
meeting points are at Kibithoo (Arunachal), Spanngur
Gap at Chusul (Ladakh), Bum-La near Tawang
(Arunachal) and Nathu-La (Sikkim).
BANGLA ENCLAVES MERGE WITH INDIA
On the midnight of July 31, with the execution of Land
Border Agreement between the India and Bangladesh,
51 Bangladeshi enclaves situated on Indian soil in
Coochbehar district of West Bengal amalgamated with
India, while 111 Indian enclaves in Bangladeshi
territory integrated with that country.
NATIONAL HANDLOOM DAY
Govt has declared that every year 7th August will be
celebrated as National Handloom Day to promote
genuine, global quality handloom products in
international markets. On August 7, 1905, Swadeshi
Movement was launched from Kolkata.
WB TO GIVE $ 412 MN FOR CYCLONE RISK
World Bank has agreed to provide $ 412.40 million
assistance for the National Cyclone Risk Mitigation
Project- I & II for mitigating vulnerability to the cyclone
and other oceanic hazards in the coastal India.
4 MORE COMMUNITIES INCLUDED IN OBC
Central govt has approved four communities to be
included in the Central List of OBCs in the two States -
Gujarat and Uttarakhand, on the basis of
recommendations of the National Commission for
Backward Classes (NCBC). The castes/communities are -
Sipai and Patni /Turk Jamat in Gujarat and Kahar and
Tanwar Singhariya in Uttarakhand.
 Prime Minister Modi made a two day visit to the
strategically-important UAE on August 16-17. He is
the first Indian PM to visit UAE after 34 years.
 James Alix Michel, President of the Seychelles came
to New Delhi on 25 August on a three-day visit to
India.
 Filipe J Nyusi, President of Mozambique arrived in
India on August 5 on a five day visit. The two
countries signed MoU on expanding cooperation in
energy sector.
 Adam Gilchrist, former Australian cricketer has
been appointed Australia's first education
ambassador to India.
 India has started the hotlines between Prime Minister
Narendra Modi and US President Barack Obama and
their national security advisers.
 Govt released a commemorative postal stamp of Rs 5
on August 24 on emperor Ashoka who ruled the
Indian subcontinent from 269 BC to 232 BC.
 Latest release from the Census 2011 data shows that
only 6.8 crore Indians (8.15%) have qualification of
graduation and above.
 The 18th Indian Institute of Technology (IIT) started
functioning from its temporary campus at Palakkad,
Kerala.
 Second summit of Forum for India Pacific Island
Countries (FIPIC) was held in Jaipur on August 21.
 India signs tax information exchange agreement with
Seychelles to curb generation of black money.
JULY 2015
INDIA TOPS IN 3 SOCIAL SECURITY SCHEMES
The World Bank has ranked the Mahatma Gandhi
National Rural Employment Guarantee Act (MGNREGA)
as the world's largest public works programme,
providing social security net to almost 15 per cent of the
country's population. India's Mid-day Meal Scheme has
been classified as the biggest school feeding programme
covering 10.5 crore beneficiaries. The Janani Suraksha
Yojna, with 7.8 crore beneficiaries, has topped the
category of social security programme with conditional
cash transfers.
WORLD BANK HELP FOR ANDHRA
The World Bank has agreed to provide $250-million
financial assistance for the Andhra Pradesh Disaster
Recovery Project which will help the state enhance its
capacity to respond promptly in times of crisis.

INDIA MAKES PROGRESS IN ACHIEVING MDGs
As per a UN report on the progress made under the
UNO’s Millennium Development Goals (MDGs), India has
already achieved the target for reducing poverty by half
and is set to achieve reducing hunger also by half. But
India lags behind in meeting goals like universal
primary school education and universal youth literacy
and lags in empowering women through wage
employment and political participation.
The Millennium Development Goals (MDGs) were set by
the United Nations in the year 2000 and were to be
achieved by December 2015.
MODI VISITS 5 COUNTRIES
Prime Minister Narendra Modi undertook 8 day trip to
five Central Asian countries and Russia on from July 6 to
13. He visited Uzbekistan (July 6-7), Kazakhstan (July 7-
8), Russia (Ufa) (July 8-10), Turkmenistan (July 10-11),
Kyrgyzstan (July 11-12) and Tajikistan (July 12-13) for
the summits of BRICS (Brazil-Russia-India-China and
South Africa) and the Shanghai Cooperation
Organisation (SCO).
SIX SOLAR CITIES IN NORTHEAST
The six cities - Guwahati and Jorhat in Assam, Kohima
and Dimapur in Nagaland, Itanagar in Arunachal
Pradesh and Agartala in Tripura - will be developed
under the Development of Solar Cities Programme of the
union ministry of new and renewable energy.
LONGEST TUNNEL TO START NEXT YEAR
The last wall between the 9-km long Patnitop tunnel
between Chenani and Nashri, the longest in South Asia,
was broken, thereby reducing the road distance
between Jammu and Srinagar by 30 km. The tunnel is
likely to be operational in the next ten months.
2ANGLOINDIANS NOMINATED TO LOK SABHA
President has nominated 2 members of Anglo-Indian
Community to Lok Sabha as per the provisions of Article
331 of Indian Constitution. They are – Prof. Richard Hay,
Economist from Kerala and George Baker, noted film
actor from West Bengal.
INDIA FORMS 17.25 % OF WORLD POPULATION
On the World Population Day (July 11), at 5 pm, the
number of Indians hit 127, 42, 39, 769, which is 17.25
per cent of the global population, as per the National
Population Stabilization Fund (NPSF), an autonomous
body under the Union Health Ministry.
NSSO 71ST ROUND DATA RELEASED
National Sample Survey Office (NSSO) released the
survey data of the 71st round related to key indicators of
Social Consumption: Education, showing prime
indicators on education as on 31 March 2014.
NAKSHATRA VATIKA LAID OUT IN HYDERABAD
President Pranab Mukherjee inaugurated a 'Nakshatra
Vatika' in the Rashtrapati Nilayam gardens in
Hyderabad. The layout of the garden has been
developed in various geometrical combinations
corresponding to the Sree Chakra of Vedic astrology.
PANEL FOR HIKE IN MPs SALARY
A panel, headed by BJP MP Yogi Adityanath, has sought
doubling of the existing Rs 50,000 salary of MPs and
favoured increasing their pension from Rs 20,000 to Rs
35,000. It has also recommended doubling of the daily
allowance of MPs for attending the Parliament sessions,
from Rs 2,000 at present to Rs 4,000.
CASTE CENSUS SHOWS DEPRIVED RURAL INDIA
The Socio Economic and Caste Census (SECC) data
released on July 3 shows that of the total 17.9 crore
rural households across the country, 2.37 crore or 13%
still live in houses with only one room, kuccha walls and
kuccha roof.
This is the first such survey in more than 8 decades. The
country has a total of 24.39 crore households, putting
73% of them in rural areas. Manual casual labour is the
main source of income for rural households, with nearly
51% engaged in such jobs, followed by cultivation,
which provides employment to 30% of households.
The Union Cabinet has formed an expert group chaired by
Arvind Panagariya, Vice-Chairperson of NITI Aayog, to
classify the Caste names returned in the Socio Economic
and Caste Census (SECC), 2011.
RAIL LINK WITH BANGLADESH
Government has sanctioned around Rs.1,000 crore for a
15-km India-Bangladesh railway project from Agartala
in Tripura to Akhaura in Chitagong, Bangladesh. The
link will reduce distance between Kolkata and Agartala
by over 1100 kms.
ADB LOAN FOR NORTHEAST
The Asian Development Bank to give a loan of $ 300
million to India for improving road connectivity and
increasing the domestic and regional trade along the
North Bengal—North Eastern Region (NER).

IDEAS INVITED FOR INDIAN CITIES
The Union Urban Development Ministry organized a six
day competition "Mera Shahar Mera Sapna" in New
Delhi to encourage the citizens to contribute their ideas
and solutions for addressing the challenges faced by
Indian cities.
 India and Kazakhastan issued a joint statement - Tej
Kadam highlighting the continuation of strategic
partnership between the two nations.
 Government has decided to give Cabinet minister’s
rank to the Vice-Chairman of NITI Aayog, Arvind
Panagariya.
 Asian Development Bank to provide $ 300 million
loan to support the Government’s flagship program,
the National Urban Health Mission.
 The 46th Session of the Indian Labour Conference held
in New Delhi.
 India and Georgia signed an MoU in New Delhi for
cooperation in election management and
administration.
 26th July was celebrated as the Kargil Vijay Diwas as
the 16th anniversary of the Indian victory in the 1999
Kargil war.
 Of the 31 countries which produce power from
nuclear sources, India is 12th, producing 5308 MWe.
The list is topped by USA producing 98639 MWe.
 National Broadcasting Day was observed on 23 July.
It is on this day in 1927, the Indian Broadcasting Co.
started first radio broadcasting from Bombay.
 Government has announced that 14 States and Union
Territories have achieved or exceeded the literacy
rate of 80 percent.
NEWS FROM STATES
SEPTEMBER 2015
GODAVARI AND KRISHNA RIVERS LINKED
Andhra govt has successfully linked two of its major
rivers - Godavari and Krishna towards making the state
"drought-proof". The 'Pattiseema' lift irrigation scheme
on Godavari River at Pattisam village in West Godavari
district will lift the Godavari waters to the Krishna
River. Nearly 1.3 lakh acres in Vizianagaram and
Srikakulam districts will be irrigated with the help of
this project.
GUJARAT IS BEST FOR DOING BUSINESS
A World Bank's report on ease of doing business in
states ranks Gujarat as the best place in the country to
do business, followed by Andhra Pradesh, Jharkhand
and Chhattisgarh. The ranking of 32 states and union
territories was based on eight specified parameters
which include setting up of business, allotment of land,
labour reforms and procedure for environmental
clearance etc.
ORDER ON SANTHARA STAYED BY THE SC
The Supreme Court on August 31 stayed the August 10
order of Rajasthan High Court which had termed the
Jain religious practice of Santhara, a ritualistic fast unto
death, an act of suicide. The court has called for reply
from the Centre and State.
 Bir Billing in Himachal Pradesh's Kangra Valley will
hold India's first AAI Paragliding World Cup 2015 in
October.
AUGUST 2015
NAGALAND REMEMBERS RANI GAIDINLIU
Birth centenary celebra-
tions of freedom fighter
Rani Gaidinliu were
inaugurated in Nagaland on
August 24. A commemo-
rative coin of 100 rupees
and circulation coin of 5
rupees was launched on
this occasion. She was a
Naga political and spiritual
leader who had led a non
violent revolt against British colonial rule in India.
MOB VIOLENCE IN GUJARAT
Gujarat witnessed widespread violent clashes after the
massive rally on August 25 for demanding special job
reservation for Patel community. Curfew was clamped
in several towns as the mob violence claimed over 10
lives. Army was deployed to rein in the violence.
KOCHI IS WORLD’s FIRST SOLAR AIRPORT
Scripting a new chapter, the Cochin International
Airport, Kochi on August 18 became the first airport in
the world to operate completely on solar power. The 12
MWp power plant fully meets the daily requirement of
50 to 60 thousand units of the airport.
ALLAHABAD HC ORDER FOR GOVT SCHOOLS
The Allahabad High Court on 18 August 2015 directed
the Chief Secretary of Uttar Pradesh to ensure that all
government officials, elected representatives, members
of judiciary and all other persons who get any benefit or
salary from state should send their children to primary
schools run by the state Board for Secondary Education.

‘DAHI HANDI’ IS ADVENTURE SPORTS
In an effort to bring some discipline during the popular
Dahi Handi festival, the Maharashtra government has
accorded the status of adventure sport to the art of
forming ‘human pyramids’ – main feature of this festival.
TWO WAR MUSEUMS OPENED IN RAJASTHAN
Two war memorials - Jaisalmer War Museum and
Longewala War Memorial were inaugurated in
Rajasthan on August 24 in the honour of war heroes of
1965 Indo-Pak war and 1971 Indo Pak war,
respectively. Longewala is on Pakistan border near
Jaisalmer and is remembered for the fierce tanks battle
where 34 Pak tanks and over 500 military vehicles were
destroyed, killing over 200 Pak soldiers while only two
soldiers were killed from Indian side
 Telangana govt has signed a MoU with the
Department of Posts for sale of stamp papers at post
offices from September 1 to avoid fraud and forgery.
 Kerala would be the first fully digital state in the
country by March 2016 by utilising e-governance to
deliver efficient and transparent services.
JULY 2015
GOA TO HOLD YOUTH DELPHIC GAMES 2016
The 5th Youth Delphic Games for cultural events will be
held in Goa in February 2016. Started in ancient Greece
in Delphy, the games are hosted every four years for
participants in the age group 15-25 years.
They are being hosted in India for the first time. The
motto of the 2016 Games is ‘Celebrating Arts and
Cultures.’ It will include competitions in six categories —
musical arts & sounds, performing arts, language arts,
visual arts, social arts and ecological arts & architecture.
BANGALORE RANKS 12TH IN WORLD AS IT CITY
Bangalore has been ranked 12th in the list of top 20
technology-rich cities in the world, according to a
survey conducted by global property consultant Jones
Lang LaSalle. Good economic growth, investments in
infrastructure, presence of startups and significant
supply of prime office space are some of the factors that
contributed in Bangalore's strong performance in the
survey. London, San Jose (California) and Beijing are top
three cities on the list.
NADIA WINS UN PUBLIC SERVICE AWARD
The "Abar Souchagar" (toilet for all) project in West
Bengal's Nadia district, aimed at making the district free
from open defecation, has won the prestigious United
Nations Public Service Award for making Nadia the first
'Open Defecation Free' district in the country.
XINJIANG TO AID GROWTH OF VADODARA
Vadodara in Gujarat and China's Xinjinag province have
signed a memorandum of understanding (MoU) to
enhance infrastructure growth and development
between the two regions.
U P TO HAVE GPS IN ALL STATE BUSES
Uttar Pradesh State Road Transport Corporation
(UPSRTC) has become the first State transport
corporation to have a vehicle tracking system for its
over 9600 inter-city buses, which has led to a reduction
in accidents and deaths as drivers are wary of crossing
the speed limits.
HARYANA TOPS IN SKILL DEVELOPMENT
A report brought out by National Skill Development
Corporation (NSDC) states that Haryana is number one
state in India in automobile production, accounting for
50% of total passenger cars and two-wheelers produced
in India.
HARYANA TO GIVE 24 HR ELECTRICITY SUPPLY
The Haryana government has launched the ‘Mhara
Gaon Jagmag Gaon’ scheme from Dyalpur village of
Kurukshetra district to ensure 24-hour power supply to
the villages which fulfill all parameters, particularly
avoiding power theft.
NAGALAND DECLARED ‘DISTURBED AREA’
The Home Ministry has declared Nagaland a “disturbed
area” under section 3 of the Armed Forces (Special
Powers) Act 1958, as it finds that a “dangerous
condition” prevails in the State and the armed forces
should assist the civil administration in maintaining law
and order.

 The Kerala Tourism has won Pacific Asia Travel
Association award for its Muziris Heritage
Conservation Project in the 'Heritage & Culture'
category.
 Uttarakhand became the first state in India to
successfully install an Earthquake Warning System
to detect earthquakes and disseminate warnings.
 Chennai is 6th city in India to have the Metro train.
The first train covered an overhead stretch between
Koyambedu and Alandur for 10 km.
 The Tripura government has introduced a pension
scheme for transgenders allowing them a pension of
Rs 500 per month.
GOVERNMENT
INITIATIVES
SEPTEMBER 2015
TWO GOLD SCHEMES ANNOUNCED
With a view to reduce the regular demand for the gold
and to mobilize part of around 22,000 tonne gold lying
in Indian households, govt has approved the Sovereign
Gold Bond and the Gold Monetisation Scheme. India,
along with China, is among top consumers of gold in the
world. (See details on page – 1)
GOVT ANNOUNCES OROP PACKAGE
The government has announced to roll out the welfare
measure under One Rank One Pension-OROP for Armed
Forces personnel from July 1, 2014, with 2013 as the
base year. The annual expenditure for implementing
OROP would be between Rs 8,000 to 10,000 crore.
‘HOUSING FOR ALL’ TO COVER 305 CITIES
The government has identified 305 cities and towns
across nine states for implementation of its ambitious
'Housing for All' scheme, named 'Pradhan Mantri Awaas
Yojana. The scheme provides financial assistance in the
range of Rs 1 lakh to Rs 2.30 lakh per housing unit. Govt
aims to construct 2 crore houses for urban poor by the
year 2022, coinciding with the 75 year of Independence.
SPECIAL SCHEME FOR MINING AREAS
The Government has launched the Pradhan Mantri
Khanij Kshetra Kalyan Yojana (PMKKKY) for the
welfare of people and areas affected by mining related
operations, using the funds generated by District
Mineral Foundations.
SCHEME TO TRANSFORM RURAL CLUSTERS
Govt has approved Shyama Prasad Mukherji Rurban
Mission to transform rural areas into economically,
socially and physically sustainable spaces by creating
300 Rurban growth clusters over the next 3 years.
The clusters will be geographically contiguous to Gram
Panchayats with a population of about 25000 to 50000 in
plain and coastal areas and a population of 5000 to
15000 in desert, hilly or tribal areas.
50 MORE DAYS UNDER NREGA
Government has decided to provide additional 50 work
days in 2015-16 in drought-hit areas under Mahatma
Gandhi National Rural Employment Guarantee Act
(MGNREGA) scheme to provide relief to farmers in view
of deficit monsoon in various parts of the country.
SIMPLE REGISTRATION FOR MSMEs
Micro, Small and Medium Enterprises (MSMEs) Ministry
has come out with a one-page Udyog Aadhaar
Memorandum which must be filled online by all MSMEs,
with a view to simplify registration procedure for
entrepreneurs and promote ease of doing business.
EPFO HIKES INSURANCE COVER TO 6 LAKH
Employees Provident Fund Organisation (EPFO) has
increased the maximum amount assured under its
Employees' Deposit inked Insurance Scheme (EDLI) to
Rs 6 lakh, from the existing Rs 3.6 lakh. The move will
benefit over 4 crore subscribers.
DIPP FIRST GOVT DEPTT TO GO CASHLESS
The Department of Industrial Policy and Promotion
(DIPP) has implemented an electronic payment system
to become the first government department to have 100
per cent cashless transactions. The move is part of the
government's efforts to encourage use of plastic money
in the country help in moving towards a cashless
society.
 Union Cabinet has approved the setting up of Indian
Sign Language Research and Training Centre
(ISLRTC) at New Delhi.
 Life Insurance Corporation of India has created a
platform where policyholders may avail of electronic
KYC norms linked to the Aadhar card.
 Railways has launched a paperless unreserved
ticketing mobile application for the passengers
travelling from New Delhi to Palwal Section.

AUGUST 2015
98 SMART CITIES SELECTED
The Centre declared the names of 98 cities on August 27
for its ambitious smart cities project. The cities were
selected on the parametres set by the Centre. U P leads
by getting 13 cities selected, followed by Tamil Nadu-12
and Maharashtra-10. Centre will release Rs. two crore
for each city for the preparation of the smart city plan.
‘SEHAT’ LAUNCHED WITH APOLLO HOSPITALS
The Government launched a health service called SEHAT
(Social Endeavour for Health And Telemedicine) on
August 25 in collaboration with the Apollo Hospitals,
which will connect 60,000 Common Service Centres
(CSCs) across the country to a common network. This
will provide healthcare access to millions of citizens
irrespective of geographical location or connectivity
through the CSCs.
‘VIDYALAKSHMI’ LAUNCHED FOR EDU LOANS
Government has launched the web portal "Vidya
Lakshmi” (www.vidyalakshmi.co.in) for the benefit of
students seeking educational loans. So far 13 banks have
registered 22 educational loan schemes on the portal
and five banks -- SBI, IDBI Bank, Bank of India, Canara
Bank and Union Bank of India have integrated their
system with the portal for providing loan processing
status to students.
GLOBAL ID FOR INDIAN SAILORS
India has ratified the International Seafarers’ Identity
Documents Convention, 2003 to provide a globally
recognised identity document to its seafarers. In
addition to facilitating mobility of seafarers, the smart
card will also improve maritime security with a
verifiable identification.
Every year, several hundred Indian sailors are
incarcerated abroad for various reasons, and without
proper internationally recognised identification, they are
unable to seek needed legal remedies.
ONLINE REGISTRATION FOR DISABLED
Government launched an online beneficiary registration
system, ‘On-line On-Site’ on August 17 to ensure
transparency in schemes implemented by the Ministry
of Social Justice and Empowerment to provide assistive
aids to persons with disabilities.
IAS OFFICERS TO START CAREER FROM DELHI
In a first, Union government has decided that from this
year onwards, IAS probationers will start their career
with a three-month stint at the Centre before going to
their respective states of posting as per the cadre
allocation.
‘SURAKSHA BANDHAN’ TO PUSH INSURANCE
Government has launched Suraksha Bandhan Yojna
through participating banks and insurance companies to
facilitate enrolment under two social security schemes -
Pradhan Mantri Suraksha Bima Yojana and Pradhan
Mantri Jeevan Jyoti Bima Yojana. One has to invest Rs
201 and Rs 5,001 which will be kept as a fixed deposit in
banks and the yearly interest generated will be used to
pay the premium for PMSBY and PMJJBY, respectively.
‘NAI MANZIL’ LAUNCHED FOR MINORITIES
Govt launched a new national scheme Nai Manzil from
Patna on August 8 to address educational and livelihood
needs of minority communities in general and Muslims
in particular as they lag behind other minority
communities in terms of educational attainments.
GOVT ADOPTS SENDAI DISASTER FRAMEWORK
Government has announced it plans to implement the
Sendai framework for Disaster Risk Reduction 2015-
2030 to increase preparedness for response and
recovery and strengthen resilience in case of disaster.
This framework was adopted during the third UN World
Conference on Disaster Risk Reduction held in Sendai,
Japan in March 2015.
PEACE ACCORD SIGNED WITH NSCN
Government of India has signed a landmark peace
accord on August 3 with the National Socialist Council of
Nagaland-NSCN (Isak-Muivah group), promising an end
to almost two decades long pending peace talks. The
NSCN has been waging an armed struggle for securing
an independent Naga state foe past several years.
WEB PORTAL FOR ADARSH GRAM YOJANA
Union Ministry of Rural Development has launched
‘SAMANVAY’ web portal to monitor progress of
implementation of the Sansad Adarsh Gram Yojana
(SAGY) for development of Gram Panchayats. Every MP
is expected to adopt three villages for their overall
development.

E-VISA EXTENDED TO CHINA, HK & MACAU
Government has extended e-Tourist Visa facility to
China, Hong Kong and Macau with effect from 30 July
2015. With the inclusion of these countries, the total
number of countries covered under the e-Tourist Visa
scheme becomes 77.
NREGA WAGES TO BE PUT IN ACCOUNT
In an effort to prevent delay in payments to workers
under the rural employment guarantee scheme, the
Union Cabinet has approved direct benefit transfer to
beneficiaries of the Mahatma Gandhi National Rural
Employment Guarantee Scheme (MGNREGS). A sum of
Rs 34,000 crore has been allocated for the scheme in the
current fiscal year.
 Government has launched the School Nursery Yojana,
to bring students closer to nature by involving them
in raising of saplings in school nurseries.
 Govt proposes to rename the present Agriculture
Ministry as 'Agriculture and Farmers' Welfare
Ministry’ to focus on the welfare of farmers.
JULY 2015
E-KISSAN TO START ONLINE MANDIS
The Ministry of Agriculture plans to launch E-kisan, a
portal that will go online on July 27, to allow the farmers
to showcase their farm produce on the Internet for
wholesalers to bid remotely before the crop is harvested
and sent to the buyer. Now the farmer need not bring
produce to the mandi and play in the hands of
commission agents for right price. Apart from ensuring
remunerative prices to farmers, the portal will be an
attractive alternative for wholesale buyers as they will
not have to pay any mandi tax.
PORTAL FOR ENVIRONMENTAL CLEARANCE
The Ministry of Environment and Forests has launched a
web portal for online submission of applications for
Environment Clearance by State Environment Impact
Assessment Authorities for Category ‘B’ projects. This
facility is already there for projects cleared directly by
the Ministry.
‘DIGITAL INDIA’ INITIATIVE LAUNCHED
The government has launched the 'Digital India'
initiative for digital delivery of all essential services
online to citizens and transform India into a digitally
empowered society and a knowledge economy by
leveraging IT. It plans to cover all the 2, 50, 000 village
panchayats with broad band connectivity. It aims to
reduce corruption in government services by making
them available online. It plans to provide Aadhaar card-
based ‘digital lockers’, wherein one can store all
documents like birth/death certificates, various
permissions, registrations etc.
WEB PORTAL LAUNCHED FOR EMPLOYMENT
The government has launched the National Career
Counseling Portal under the National Career Service
(NCS) project to coordinate all government-run
employment exchanges. The web portal will act as a
one-stop platform for both job seekers and job
providers where registration can be done online.
ALL INDIA NUMBER PORTABILITY
The nationwide mobile number portability, MNP which
will allow customers to keep their existing mobile
phone numbers while shifting between States and
circles, is now operational. Until recently the users
could change their operator while retaining the same
number only in the same State or telecom circle.
HELPLINE LAUNCHED FOR RAILWAYS
The government has launched an All India Railway
Helpline number, 1512, using which the passengers can
lodge a complaint in the event of falling prey to a crime
on both, running trains and stations in India.
HRIDAY SCHEME LAUNCHED FROM AMRITSAR
The National Heritage City Development and
Augmentation Yojana (HRIDAY) was launched from
Amritsar in Punjab for development of 12 historical
cities in the country. The central government has
sanctioned Rs. 69.31 crore as 100% grant for Amritsar.
MINIMUM WAGE HIKED TO Rs 160
The National Floor Level Minimum Wage has been
increased to Rs. 160 per day from the existing Rs. 137
effective from July 1 this year. It is expected from the
state governments that they do not pay less than this
rate as it is mandatory.

OVER 100 MILLION YOUTH TO BE SKILLED
The government has set a target to provide skill
development training to 102 million youth over the next
five years under the National Skill Development Mission.
A skill loan initiative will also be started, under which
loans from Rs 5000 to Rs 1.5 lakh will be given to more
than 34 lakh youth.
GOVT TO CONDUCT SOCIAL AUDITS
Govt plans to prescribe norms for the quality of air and
water within the factory premises, along with the extent
of exposure of employees to particulate matters within
the factory. Social audits of workers will be conducted to
check implementation of these norms.
Over 93% of the country's workforce is still in the
unorganised sector, where most workers are deprived of
protection measures and are often exposed to hazardous
air and water.
‘Deen Dayal Upadhyaya Gram Jyoti Yojana’
For power sector reforms in rural areas to ensure round
the clock electricity supply to farmers and rural
households, was formally launched in Patna on July 25.
The earlier scheme Rajiv Gandhi Grameen Vidyutikaran
Yojana has been subsumed in the new scheme.
RULES NOTIFIED FOR FOREIGN ASSETS
The government has notified the rules for calculating
overseas income and assets under the Black Money
(Undisclosed Foreign Income and Assets) and
Imposition of Tax Act, 2015. The rules notified by
Central Board of Direct Taxes (CBDT) say that the value
of overseas assets, including immovable property,
jewellery, archaeological collections and paintings,
shares and securities and shares in unlisted firms
abroad will be calculated at their fair market value.
BLACK MONEY WINDOW TILL 30th SEPTEMBER
The government has given three months time till 30th
September for people to declare their undisclosed
foreign income and assets to escape prosecution under
the new Black Money Law. Those making the disclosure
during this period will have a further three-month
period till 31st December this year to pay the taxes and
the penalty on their foreign income and assets. Those
availing of the one-time compliance window would have
to pay a tax of 30% and a penalty of a similar amount.
 The govt will give national awards with a cash prize
of Rs 1.5 lakh to 3 best rag-pickers and 3 associations
for their contribution to keeping India clean.
 The govt has launched the Surakshit Khadya
Abhiyan to create mass awareness and capacity
building for safe and hygienic food.
 The govt has decided to start an exhibition train—
Science Express to sensitise the people, especially
children and the youth, about Climate Change.
 The Cabinet Committee on Economic Affairs has
approved the Pradhan Mantri Krishi Sinchayee
Yojana with an outlay of Rs. 50000 crore.
 The retirement fund body Employees’ Provident Fund
Organisation, EPFO, has launched a public outreach
initiative by the name ‘Nidhi Aapke Nikat'.
ECONOMIC INDICATORS
SEPTEMBER 2015
FIRST QR GDP GROWS BY 7%
Data released by the Central Statistics Office (CSO),
Ministry of Statistics and Programme Implementation
shows that the GDP at constant prices for April to June
this year rose by 7 percent compared to a growth rate of
7.1 percent for the same period in last fiscal. Under the
present circumstances, the government may not be able
to achieve its target of 8.1-8.5% growth for 2015.

INDIA LIKELY TO GROW BY 7.5%
Finance Ministry has stated that India's growth in the
current fiscal will exceed 7.5 per cent as there are "silver
linings" in the global financial turmoil, with government
committed to ensuring that the country remains a
"bright spot" in the world economy.
EXPORTS SHRINK BY 20 PER CENT
India’s exports shrank more than 20 per cent in August
to $21.27 billion, the ninth straight monthly decline.
Imports fell 9.95 percent from a year earlier to $33.74
billion, on the back of both declining global commodity
prices and weak domestic demand. The trade deficit
marginally narrowed to $12.47 billion.
CORE SECTOR MOVES UP BY 1.1%
Growth in the eight core sectors, which contribute about
38 per cent to the overall industrial production, slowed
to a 3-month low of 1.1 per cent in July, as the output of
crude oil, natural gas and steel contracted.
 Driven by good performance of manufacturing and
capital goods sectors, industrial production rose by
4.2 per cent in July, 2015.
 The nation’s forex reserves rose by $631.5 million to
$352.02 billion in the week ended September 18 due
to rise in foreign currency assets.
 The Asian Development Bank has cut India’s growth
forecast to 7.4% on concerns of delay in reforms,
weak demand, external slowdown and weak
monsoon.
AUGUST 2015
INDIA MAY SLIP TO 7% GROWTH: MOODY’s
Cautioning that slow reforms pace could dent growth,
Moody's Investors Service on August 18 reduced India's
growth forecast for 2015-16 to around 7% from 7.5 %
projected earlier, citing below-normal rainfall.
JULY 2015
INDIA TO GROW BY 7.8% - FITCH
Global rating agency Fitch says that India is expected to
grow at 7.8 per cent in 2015. Its Global Growth Outlook
report says that the Indian Government's strong drive to
implement structural reforms should lead to
improvements in the business environment and, over
the time, to an increase in investments.
INDIA SET TO GROW BY 7.5% - IMF
In its World Economic Outlook Update, the IMF has
retained India's growth forecast for current year at 7.5
percent, which is higher than China's 6.8 per cent. The
report projects current year global economy growth
forecast at 3.3 per cent.
GDP CROSSES $2 TRILLION MARK – W B
According to latest World Bank data, India’s GDP
reached the $2.06 trillion mark in 2014. After taking 60
years to reach the $1-trillion mark, India added the next
trillion in just seven years. India’s gross national
income per person rose to $1,610 (around Rs. 1 lakh) a
year during 2014. India’s growth rate, at 7.4 per cent in
2014, makes it the fastest growing major economy.
ECONOMY & INDUSTRY
SEPTEMBER 2015
FIIs EXEMPTED FROM MAT
As per the recommendations of the Justice A.P. Shah
Committee, govt has announced that the minimum
alternate tax (MAT) will not be applicable on capital
gains made by Foreign Institutional Investors (FIIs)
prior to April 1, 2015. The decision is a big relief to FIIs
that pulled out more than Rs. 17,555 crore ($2.65
billion) from India in August. MAT is the minimum tax @
18.5 per cent that a company has to pay on its profits,
even if no tax is payable due to certain eligible deductions.
MANDATORY EXPORT OF SUGAR NOTIFIED
The Food Ministry has notified mandatory export of four
million tonne of sugar for the 2015-16 sugar season
starting October 1. The export quota would be
distributed among all sugar mills based on their average
production in the past three years.
FMC MERGED WITH SEBI
From 28 September 2015, the commodities market
regulator Forward Markets Commission (FMC) has
become part of the Securities and Exchange Board of
India (SEBI). This merger will strengthen the regulation
of commodity futures market by SEBI under Securities
Contracts Regulation Act (SCRA) 1956.
NTPC ACHIEVES RECORD POWER PRODUCTION
NTPC – National Thermal Power Corporation achieved a
record highest single-day electricity generation of
733.12 million units on August 27 from its 33 power
plants of which 18 are coal-based, 7 gas-based and 8 are
solar and hydro power stations.

WOMEN CAN BOOST GDP
According to a new report by McKinsey Global Institute,
if the gender inequality issue in India is resolved and
more women are allowed to join workforce, India's
gross domestic product (GDP) could see a jump of
around 60 per cent by 2025.
SALE OF DICLOFENAC RESTRICTED
Union Ministry of Health and Family Welfare has
banned the sale of Diclofenac drug in multidose vial.
Henceforth, it will be sold only in single-dose vial
packaging for human use.
The drug is administered to cattle and is the chief cause of
mass extinction of vultures as the vultures feeding on
cattle having traces of Diclofenac either die from acute
kidney failure within a few days or lose their ability to
reproduce.
CHINESE COMPANY TO INVEST IN HARYANA
In one of the biggest investment in India by a Chinese
company, the real estate major Dalian Wanda Group
plans to invest around Rs. 66,000 crore to acquire 100
square km of land in two parcels in Haryana to develop
an industrial zone and township.
‘SAHAJ’ FOR ONLINE LPG CONNECTIONS
The Petroleum and Natural Gas Ministry launched
SAHAJ scheme on August 30 for online booking of LPG
connections through the websites of all public sector oil
companies and the LPG portal, Pahal.
 The West-Central Railway zone headquartered in
Jabalpur, Madhya Pradesh has become the first
Railway Zone to eliminate all unmanned level
crossings.
 The World Federation of Exchanges has confirmed
that the Bombay Stock Exchange has the highest
number of listed companies in the world - 5689.
 Asian Development Bank to provide $ 500 million
loan for better management of essential urban
services and financing of water supply in Rajasthan.
 Asian Development Bank to extend a loan of $ 200
million to Jharkhand for upgrading roads in next four
years.
AUGUST 2015
3 INDIAN COs IN INNOVATION LIST
Three Indian companies, Hindustan Unilever, Sun
Pharma Industries and Tata Consultancy Services (TCS)
have been named among the world’s 100 most
innovative companies list compiled by Forbes magazine
of USA. The list is topped by Tesla Motors of USA.
AGRI PRODUCTION DOWN BY 4.9%
According to the Fourth Advance Estimates of
foodgrains production in 2014-15 in India, it was 252.68
million tonnes, down by 12.36 million tonnes (4.9%)
from the previous year’s record production of 265.04
million tonnes. Production of kharif crops suffered due
to bad monsoon while rabi crops were hit by unseasonal
rains/hailstorm during Feb-March 2015.
INDIA TO BOOST PALM OIL PRODUCTION
India plans to spend $1.5 billion in the next three years
to help farmers grow oil palm trees to make the nation
self-sufficient in edible oils. Country spends $10 billion
on import of edible oils, its third-highest overseas spend
after oil and gold.
‘ACTIVA’ CROSSES ONE CRORE MARK
The country's most popular scooter - the Honda Activa -
has set a new record by crossing the one crore unit sales
landmark. First launched in 2001, the Activa currently
commands 59 per cent share in the Indian scooter
market - and over 2.1 million units of the Activa range
were sold in the last financial year.
RAJESH EXPORTS IS WORLD NO 1 IN JWELLERY
World’s largest gold jewellery manufacturer - Rajesh
Exports Ltd. Bengaluru, has acquired Switzerland based
Valcambi, the world’s largest integrated precious metals
refiner, in an all-cash deal of $400 million (around
Rs.2,560 crore).
NATIONAL INVESTMENT AND INFRA FUND
Union Cabinet has approved setting up of National
Investment and Infrastructure Fund (NIIF) to
support new and delayed projects. The fund will have
an initial corpus of Rs. 20000 crore, of which 49% will
be contributed by govt. of India.

 The Union Cabinet has approved construction of
petroleum products pipeline from Raxaul (Bihar) in
India to Amlekhgunj in Nepal.
 Kolkata Port adjudged as the best ‘Major Port of the
Year’ in the country for the year 2014-15 on basis of
its turnover, efficiency and customer satisfaction.
 Taiwanese electronics giant Foxconn to invest $5
billion in Maharashtra to set up large scale research
& development and manufacturing facilities.
 The government's 10 per cent stake sale in Indian Oil
Corporation on August 24 fetched around Rs. 9300 cr.
JULY 2015
IOC IS TOP CORPORATE OF INDIA
Seven Indian companies are among the world's 500
largest companies, according to a list compiled by
Fortune Magazine, USA. The list is topped by retail giant
Walmart. The 7 Indian companies are Indian Oil
(119th), followed by Reliance Industries, Tata Motors,
State Bank of India, Bharat Petroleum, Hindustan
Petroleum, and ONGC.
SUBSIDY ON KEROSENE FIXED AT Rs 12/LTR
The government has decided to cap the subsidy on
kerosene at Rs 12 per litre. Currently, it is being sold
through the public distribution system at Rs 14.96 per
litre against the actual cost of Rs 33.47.
TELE CONNECTIONS CROSS 1 BILLION MARK
The total number of telephone connections in India
crossed the 1 billion mark in May, reaching 1,002.05
million, of which 975.78 million connections were
wireless or mobile, the data released by TRAI shows.
MILLIONAIRES GROWING IN INDIA
A report by the Wealth X and UBS bank, Switzerland
says that the number of dollar millionaires in India in
2014 rose to 2.5 lakh from 1.96 lakh in 2013, an
increase of 27 per cent.
RECORD MARINE EXPORTS IN 2014-15
The marine product exports from India crossed all
previous records in quantity, rupee value and dollar
terms in 2014-15, touching an all time high of Rs 33,441
crore. Frozen shrimps continued to be the flagship
product among Indian seafood exports by earning 67
per cent of the total value.
MOBILE APP FOR DAIRY FARMERS
The National Dairy Development Board has launched a
mobile application named ‘Pashu Poshan’ that will help
dairy farmers in boosting their income by raising milk
yield and cutting feed cost.
INDIAN ARMY/RLYs AMONG TOP EMPLOYERS
As per the World Economic Forum, the Indian Army and
the Indian Railways are among the world’s biggest
employers, employing 1.4 and 1.3 million, respectively,
securing 7th and 8th rank. The US Department of Defence
is at number one, employing over 3.2 million persons,
followed by China’s People’s Liberation Army with 2.3
million employees.
ICRISAT LAUNCHES GREEN PHABLET
Scientists at the Hyderabad based ICRISAT-
International Crops Research Institute for Semi-Arid
Tropics and the Government of Telangana have
collaborated to launch the Green Phablet for farmers in
Telangana to provide online weather alerts.
WORLD BANK FUNDING FOR EDFC
The World Bank has approved an additional loan of
$650 million for the Eastern Dedicated Freight Corridor
(EDFC), which is aimed at faster delivery of goods
between the northern and eastern parts of the country,
from Ludhiana to Kolkata.
LIMIT ON EPF WITHDRAWAL
The Employees' Provident Fund Organisation (EPFO)
has proposed that an employee be allowed to withdraw
only 75% of the overall kitty, instead of 100% as
permitted under the existing Employees' Provident
Funds Scheme, 1952, in case of resignation from a job or
for any other use before retirement.
CIBIL TO CHECK BIMA CLAIMS
The Life Insurance Council has engaged Credit
Information Bureau India Ltd (CIBIL) to detect
duplication of death claims under the Pradhan Mantri
Jeevan Jyoti Bima Yojna. There is a possibility that
several customers bought policies from many banks and
therefore the need to check duplicate claims arise.
 The Electronic Toll Collection system was launched
on the Chennai-Bengaluru corridor on July26, aiming
to help road-users save time and money.
 BSNL, along with Andhra Bank and Pyro, has
launched a mobile VISA prepaid card SPEEDPAY to
allow users to do cash transactions up to Rs 1 lakh.
 The government plans to import 5,000 tonnes of Urad
dal to improve domestic supply and check price rise.
 India and Thailand signed the Double Taxation
avoidance treaty and the extradition treaty for
seeking extradition of fugitive offenders.

BANKING & FINANCE
SEPTEMBER 2015
BANKS TO PROVIDE EASY LOANS UNDER PMMY
Public Sector Banks have been asked to conduct Mega
Credit Campaigns all over the country from Sep 25 to
Oct 2 to generate easy availability of credit to Micro
Enterprises under the Pradhan Mantri Mudra Yojana
(PMMY). All state-run banks, regional rural banks and
private banks together have been given a target of 1.22
lakh crore for 2015-16 for disbursement to small and
micro enterprises up to Rs.10 lakh.
Mudra has been established as a subsidiary of SIDBI, with
an initial corpus of Rs 5,000 crore to provide refinance to
all banks seeking refinancing of small business loans
under PMMY.
SBI AND ICICI BANK DECLARED D-SIB
The Reserve Bank has declared State Bank of India and
ICICI Bank as Domestic Systemically Important Banks
(D-SIBs). The D-SIB framework requires the RBI to
disclose the names of banks designated as D-SIBs every
year in August starting from August 2015.
Systemically Important means anything or feature
which is important for entire system. Thus, D-SIBs are
those banks any changes in which may have the effect on
the entire banking system.
LICENSES GRANTED FOR 10 SMALL BANKS
Seeking to promote financial inclusion, the RBI has
granted in principal approval to 10 entities to set up
small finance banks.
These banks can provide basic banking services like
accepting deposits and lending to the unbanked sections
such as small farmers, micro business enterprises, micro
and small industries and unorganised sector entities.
MORE POWERS TO BANKS TO TACKLE NPAs
RBI has allowed banks to change the ownership of an
errant corporate even before the loan account turns
'bad' or non performing asset – NPA. Further, two of the
country's largest lenders — State Bank of India and
ICICI Bank will play a key role in turning around a
company after it defaults. These two measures are
aimed at checking sticky loans and forcing truant
borrowers to fall in line
BANKS TO BE READY FOR FATCA / CRS
The Reserve Bank has asked all banks and financial
institutions to be prepared for the implementation of
due diligence and reporting standards under FATCA and
CRS meant for international tax compliance. This is in
response to India’s signing an agreement with the US
govt for improving International Tax Compliance and
implementing the Foreign Account Tax Compliance Act
(FATCA) and agreement for Common Reporting
Standards (CRS).
BANKS TO RECEIVE NPA REPORTS
RBI has asked concurrent auditors of commercial banks
to submit their review of non-performing loans directly
to the banks and discontinue the practice of submitting
it to the statutory auditors who conduct quarterly and
half yearly review of bank accounts.
Concurrent audit means doing the examination of the
financial transactions at the time of happening or parallel
with the transaction. It is regarded as part of a bank's
early warning systems.
RBI SUGGESTS FORMULA FOR BASE RATE
To bring in uniformity among banks for calculation of
base rate and for effective transmission of policy rates,
the Reserve Bank has proposed a formula to calculate
the base rate for lending wef April 1, 2016. The
components of Base Rate will include cost of funds,
negative carry on CRR/SLR, un-allocable overhead costs
and average return on net worth.
NEW HIGH SECURITY NOTES
In its continuing effort to curb the menace of fake notes,
RBI plans to put into circulation banknotes in the
denominations of 500 and 1000 rupees incorporating
three new/revised features - ascending size of numerals
in the number panels, introduction of bleed lines, and
enlarged identification mark.

CONCESSIONAL LOANS TO BANK DIRECTORS
The RBI has permitted banks to offer loans below base
rate to their whole time directors and CEOs. However,
the rate charged should not be lower than the rate that
is charged to their employees. Base rate is the rate below
which banks are not allowed to lend.
INDIA JOINS UN’s PAYMENT ALLIANCE
India is joining the UN-based 'Better Than Cash
Alliance', which promotes transition from cash to digital
payments to reduce poverty and drive inclusive growth.
The alliance is made up of governments, companies, and
international organizations for digitisation of payments
to promote financial inclusion.
 RBI has inked a MoU with the Nepal Rastra Bank for
Supervisory Cooperation and Exchange of
Supervisory Information.
 Two commemorative coins of Rs 125 and Rs 10 were
released on the eve of Teachers' Day in the memory of
former President Sarvapalli Radhakrishnan.
 The Reserve Bank of India will shortly put into
circulation Rs 5 coins to commemorate golden jubilee
of Indo-Pak War 1965.
 The RBI has liberalised external commercial
borrowing norms for NBFCs, allowing them to use the
foreign funds to finance domestic equipments.
 RBI plans to permit domestic companies to borrow
money from pension funds, sovereign wealth funds
(SWFs) and insurance funds as part of the ECBs.
 Axis Bank has rolled out a full-fledged mobile app
‘Lime’ that enables shopping, making payments and
banking, all under one window.
 Indian Bank has launched IndPay mobile app service
to enables its customers to operate bank accounts
anytime from anywhere.
AUGUST 2015
RBI GRANTS PAYMENT BANK LICENCES
The Reserve Bank of India gave in principle approval for
11 entities on August 19 to set up payments banks. They
are India Post, Reliance Industries Ltd., Aditya Birla
Nuvo, Tech Mahindra, Sun Pharma, National Securities
Depository Ltd., Airtel M Commerce Services Ltd.,
Vodafone m-pesa Ltd., Cholamandalam Distribution
Services Ltd., Fino Pay Tech Ltd. and Paytm.
 Concept of payment banks was proposed by the
Nachiket Mor committee.
 They differ from conventional banks as they cannot
give loans nor can they accept time deposits.
 Balance in deposit accounts cannot exceed Rs 1 lakh.
 They can issue debit cards but not credit cards.
 They will need to invest 75 percent of their funds in
government securities
(See article on Page No. 17)
FARM LOAN PERIOD EXTENDED
RBI has allowed banks to extend repayment period of
farm loan upto 5-years in case 50 percent or more of
crop is damaged due to natural calamities like drought
and flood and up to two years if crop damage is 33
percent or more.
GANDHI COMMITTEE ON COOP BANKS
R Gandhi committee on the urban cooperative bank
(UCB) system has recommended to amend the law to
allow UCBs to exit from the ambit of the Multi State Co-
operative Societies Act and come under the Companies
Act. All new banks in the private sector are governed by
the latter law.
INTEREST SUBVENTION FOR FARM LOANS
The RBI has notified that interest subvention of 2 per
cent per annum will be made available to all banks on
short term farm loans upto Rs. 3 lacs provided they
charge only 7 per cent per annum to farmers. Further,
additional subvention of 3 per cent will be available to
farmers who repay such loans in time. Such farmers
thus will pay interest at the rate of 4 per cent only.
GOVT TO PUT 70K CRORE IN BANKS
Government proposes to infuse Rs 70,000 crore in
public sector banks in next four years from budgetary
allocations. The estimate is based on credit growth rate
of 12 per cent for the current year and 12 to 15 per cent
for the next three years.
RBI ALLOWS SHIFTING OF BANK BRANCHES
Reserve Bank of India has allowed banks to shift, merge
or close branches, except in rural areas, at their own
discretion. However, in case of rural branches and a
sole semi urban branch, approval of the District
Consultative Committee or District Level Review
Committee will be required.

PAYMENT BANKS
RBI has recently granted in principle approval to 11
entities for setting up Payment Banks.
Key features of the Payments Banks guidelines are:
i) OBJECTIVES:
The objectives of setting up of payments banks will be to
further financial inclusion by providing (i) small savings
accounts and (ii) payments/remittance services to
migrant labour workforce, low income households,
small businesses, other unorganised sector entities and
other users.
ii) ELIGIBLE PROMOTERS :
a. Existing non-bank Pre-paid Payment Instrument
(PPI) issuers; and other entities such as individuals /
professionals; Non-Banking Finance Companies
(NBFCs), corporate Business Correspondents(BCs),
mobile telephone companies, super-market chains,
companies, real sector cooperatives; that are owned and
controlled by residents; and public sector entities can
apply to set up payments banks.
b. A promoter/promoter group can have a joint
venture with an existing scheduled commercial bank to
set up a payments bank. However, scheduled
commercial bank can take equity stake in a payments
bank to the extent permitted under Section 19 (2) of the
Banking Regulation Act, 1949.
c. Promoter/promoter groups should be ‘fit and
proper’ with a sound track record of professional
experience or running their businesses for at least a
period of five years in order to be eligible to promote
payments banks.
iii) SCOPE OF ACTIVITIES:
a. Acceptance of demand deposits. Payments bank
will initially be restricted to holding a maximum balance
of Rs. 100,000 per individual customer.
b. Issuance of ATM/debit cards. Payments banks,
however, cannot issue credit cards.
c. Payments and remittance services through various
channels.
d. BC of another bank, subject to the Reserve Bank
guidelines on BCs.
e. Distribution of non-risk sharing simple financial
products like mutual fund units and insurance products,
etc.
iv) DEPLOYMENT OF FUNDS:
a. The payments bank cannot undertake lending
activities.
b. Apart from amounts maintained as Cash Reserve
Ratio (CRR) with the Reserve Bank on its outside
demand and time liabilities, it will be required to invest
minimum 75 per cent of its "demand deposit balances"
in Statutory Liquidity Ratio (SLR) eligible Government
securities/treasury bills with maturity up to one year
and hold maximum 25 per cent in current and
time/fixed deposits with other scheduled commercial
banks for operational purposes and liquidity
management.
v) CAPITAL REQUIREMENT :
The minimum paid-up equity capital for payments
banks shall be Rs. 100 crore.
a. The payments bank should have a leverage ratio of
not less than 3 per cent, i.e., its outside liabilities should
not exceed 33.33 times its net worth (paid-up capital
and reserves).
vi) PROMOTER'S CONTRIBUTION:
The promoter's minimum initial contribution to the
paid-up equity capital of such payments bank shall at
least be 40 per cent for the first five years from the
commencement of its business.
vii) FOREIGN SHAREHOLDING:
The foreign shareholding in the payments bank would
be as per the Foreign Direct Investment (FDI) policy for
private sector banks as amended from time to time.
viii) OTHER CONDITIONS:
a. The operations of the bank should be fully
networked and technology driven from the beginning,
conforming to generally accepted standards and norms.
b. The bank should have a high powered Customer
Grievances Cell to handle customer complaints.
The concept of Payment Banks is based on the
recommendations made by Nachiket Mor committee
appointed by RBI to improve financial inclusion. It had
proposed the concept of ‘differentiated banking’,
proposing Small Banks and Wholesale Banks to cater to
the needs of different strata of society. Now, RBI has
selected entities with experience in different sectors,
with different capabilities so that different models could
be tried. As payments banks cannot undertake lending,
these would not be subject to the same risks as a full
service bank. However, while selecting them, it did
ensure that all the selected applicants have the reach
and the technological and financial strength to service
hitherto excluded customers across the country. These
applications were screened for financial soundness, i.e.,
five year track record of the promoter and the key
entities of the promoter group.
Reserve Bank intends to use the learning from this
licensing round to appropriately revise the Guidelines
and move to giving licences more regularly, that is,
virtually “on tap”
–– xx––

IRDAI ALLOWS ALL INS. PRODUCTS TO BANKS
The Insurance Regulatory and Development Authority
of India - IRDAI has allowed banks to tie up with
insurers, to sell three products each from life, non-life
and standalone health insurance segment.
SIDBI LAUNCHES FUNDS FOR ENTERPRENEURS
Small Industries Development Bank of India (SIDBI)
launched two funds on August 18 for financing
entrepreneurs. A 10,000 crore rupees fund named
SIDBI Make In India Loan For Enterprises (SMILE) is for
providing soft loans to MSMEs. The India Aspiration
Fund with corpus of Rs 2,000 crore has been launched
to create 7.5 lakh jobs in five years.
BANDHAN BANK JOINS BANKING INDUSTRY
Bandhan Bank began operations on August 23 as a full-
fledged bank with 501 branches and 1.43 crore accounts
across the country, becoming the newest member of the
estimated $2-trillion Indian banking industry.
SBI BUDDY – AN ALL PURPOSE APP FROM SBI
State Bank of India launched a mobile wallet application,
SBI Buddy, in collaboration with Accenture and
Mastercard. The application is available in 13 languages
for both SBI customers and non customers with several
features like cash transfer, bill payment, all types of
ticket bookings payment and booking for movies, hotels
as well as for shopping.
SMART DIGITAL LOCKERS FROM ICICI BANK
ICICI Bank has launched the first of its kind fully
automated digital locker named 'Smart Vault'. The vault
uses robotic technology to access the lockers from the
safe vault and enables customers to access their lockers
at any time of their preference, including weekends and
post banking hours.
‘INDRADHANUSH’ TO REVIVE BANKS
Government has launched project “Indra-dhanush” to
lay down the framework for the revival of public sector
banks. It aims to provide immediate capital support,
create a Bank Board Bureau, link the compensation of
the top management to performance, improve
governance standards and focus on the quality of the
business rather than the quantity. A new framework of
Key Performance Indicators (KPIs) to be measured for
performance of PSBs is also being put in place, which
will boost efficiency in functioning of these banks.
 RBI to transfer its surplus profit of Rs 65,896 crore to
the Centre, which is about 25% more than the
amount given last year.
 RBI to issue 10 rupee coins to commemorate Inter-
national Yoga Day. The coins will have image of lion
capital on one side and logo of Yoga Day on the other.
 The Central Government has notified that the second
and fourth Saturday of every month would be a
holiday for banks, with effect from September 1,
2015.
 NABARD has been accredited by the Green Climate
Fund of UNO as an implementing entity for
undertaking climate change related projects in India.
 Kotak Mahindra Bank has launched a mobile banking
app ‘Kotak Bharat’ to provide mobile
banking services to customers in the remotest regions
of India as this app does not require internet support.
 HDFC Bank has launched ‘Dhanchayat’, an
educational film to raise awareness on the dangers of
borrowing money from unorganised sources.
 ICICI Bank has announced ‘Saral-Rural Housing
Loan’ up to Rs. 15 lakh with a special interest rate
equal to its base rate which is currently at 9.70 %.
JULY 2015
BANK ACCOUNTS SWELL UNDER PMJDY
Latest data on the Pradhan Mantri Jan-Dhan Yojana
website shows that 16.9 crore accounts were opened as
of July 15, across public, private and rural regional
banks with a combined balance of Rs 20,288 crore. The
share of zero-balance accounts has come down to
50.6%, suggesting that usage of accounts is increasing.
SMALL BANKS MAY ISSUE DEBIT CARDS
The Reserve Bank has permitted the banks without ATM
network to collaborate with bigger banks that have their
ATM network to issue debit cards in tie-up to promote
cashless transactions. Co-op banks will also be allowed
to issue debit cards with a bigger bank as a sponsor.
INTT SUBVENTION OF 3% ON FARM LOANS
The Union Cabinet has agreed to continue the interest
subvention of three per cent on short-term crop loans of
up to Rs. 3 lakh to farmers to enable public sector banks,
private sector commercial banks, regional rural banks,
cooperative banks and NABARD to provide these loans
at 7 per cent per anum during 2015-16.

RBI ASKS BANKS TO MAKE USE OF CRILC DATA
With a view to improving credit discipline and reducing
the NPA levels, the Reserve Bank has asked the banks to
use the credit information available with Central
Repository of Information on Large Credits (CRILC), a
database for all big borrowers launched by it, for
verifying the credit history of the applicant before the
opening their current accounts.
QUICK AUTO LOANS FROM HDFC BANK
HDFC Bank's digital banking offering christened Go
Digital has designed a 30-minute auto loan and 15-
minute two-wheeler loan for loan seekers, based on
their Aadhaar card and finger prints.
NPAs IN PUBLIC SECTOR BANKS JUMP TO 5.4%
Bad loans in public sector banks have increased to Rs
2.67 lakh crore at the end of March 2015 from Rs 2.16
lakh crore in the last year. Gross NPA Ratio of these
banks increased to 5.43 per cent at the end of March
2015 as compared to 4.72 per cent last year.
UNITED BANK DOWN WITH NPAs
The United Bank of India has topped the list of public
sector banks with the maximum bad loans including
restructured assets as a percentage of total advances;
with 21.5 per cent of its loans classified as NPA or have
been restructured to save them from turning NPA.
FASTER HOME LOANS FROM SBI
The State Bank of India has launched 'Project Tatkal' to
attract home loan seekers by offering them the loan
within 10 days after the receipt of application form and
the relevant supporting documents.
ICICI BANK GOES FOR FASTER TRANSACTIONS
ICICI Bank has created a dedicated payments gateway
for much faster transactions for its customers. Over 60
per cent of the bank’s transactions are happening
through mobile and internet banking channels.
SBI TO REWARD ITS CUSTOMERS
The State Bank of India has launched a mobile banking
app State Bank Rewardz to give reward points to all its
customers for almost every banking transaction done
with the bank. The customers can view and redeem
their reward points by shopping through this mobile
app or at merchant establishments. Every 4 points
earned by a customer would get a reward of Rs 1.
JULY 2015
MTS OPERATORS TO ISSUE PRE PAID CARDS
The RBI has allowed Mass Transit System operators
such as Mumbai Metro, Delhi Metro, Indian Railways
and even local buses to issue their pre-paid cards to
provide ease to the commuters. The balance in these
cards should not exceed Rs 2000 at any point of time.
The card will have a minimum validity of six months and
the amount will be non-refundable
 Axis Bank has signed a $200 million loan deal with
the Asian Development Bank for extending
customized and affordable agriculture credit to
farmers.
 Axis bank has launched 'Touch ID' - a one touch
authentication for doing transactions through its
mobile app using Apple iPhone 5s and above.
 The State Bank of India plans to offer up to 3% of its
annual profit to employees as part of a talent
retention and motivation initiative.
 RBI has set up a committee headed by Deepak
Mohanty to work out a five-year action plan to
spread the reach of financial services to unbanked
population.
 Corporation Bank has launched the country’s first
MUDRA (Micro Units Development and Refinance
Agency) card based on the RuPay platform.
 The Reserve Bank has signed a currency swap
agreement with the Central Bank of Sri Lanka to let it
draw up to $ 1.1 billion for up to 6 months.
 HDFC Bank plans to roll out handheld machines that
could work like micro ATMs, in areas where setting
up of full-fledged ATMs is not commercially viable.
 The State Bank to open more digital branches like
InTouch and InTouch Light, e-corners at existing
branches to target young, tech-savvy customers.

DEFENCE, SCIENCE
& TECHNOLOGY
SEPTEMBER 2015
INDIA TO GET CHINOOK AND APACHE COPTERS
The Cabinet Committee on Security has approved the
purchase of 15 Chinook helicopters that will lift heavy
loads and 22 AH-64D Apache advanced attack
helicopters at an estimated cost $2.5 billion (around Rs
16,500 crore). Both of them are produced by Boeing
Company of USA.
INDO US NAVIES ISSUE A JOINT COIN
India and the US have created a "joint challenge coin" to
symbolise their unique partnership in creating a next-
generation aircraft carrier for the Indian Navy. One side
of the coin reads "Chale Chale Saath Saath" in Hindi and
the other reads “Forward Together We Go".
CCS CLEARS ‘IACCS’ FOR AIR FORCE
The Cabinet Committee on Security has approved the
proposal to form the ‘Integrated Air Command and
Control System (IACCS)’worth around 8000 crore
rupees for the Indian Air Force. The system aims at
integrating and automating all air and ground sensors
use by the Air Force.
INS VAJRAKOSH STARTS IN KARWAR
Indian Navy has established its largest missile storage
and replenishment facility named INS Vajrakosh at
Karwar base in Karnataka for warships operating in the
western coast. It will store the long-range BrahMos
missiles and armaments.
 Indian Coast Guard has commissioned two new ships
named Fast Patrol Vessel ICGS Apoorva and
Interceptor Boat C-421.
 Govt has approved the purchase of 10 Heron TP
armed drones capable of firing missiles, from Israel to
enhance India's cross-border military strike
capability.
 The first bilateral maritime exercise between
Australia and India ‘Ausindex-2015’ began on Sep 12
off the shores of Vishakhapatnam, Andhra Pradesh.
NXT DIGITAL TO OFER 500 TV CHANNELS
Hinduja business group has launched an innovative Hits
(Headend-in-the-Sky) digital broadcasting platform
under the brand name NXT Digital that will provide over
500 TV channels to cable operators. It aims to tap the
transition from analog to digital mode of cable TV
services under the government's digitisation drive.
PRESERVATION OF THE OZONE LAYER
On 16 September, International Day for the
Preservation of the Ozone Layer was observed across
the world. The theme and the slogan for the year 2015
are 30 Years of Healing the Ozone Together
and Ozone: All there is between you and
UV, respectively.
CHINA LAUNCHES LONG MARCH -6
China has successfully launched a newly-developed
satellite launch rocket Long March-6 (Chang Zheng-6). It
was launched from the base in the Northern Province of
Shanxi and was carrying 20 micro satellites into the
space.
GOOGLE TO PROVIDE FREE WI-FI ZONES
Google and Indian Railways are planning to work jointly
on Project Nilgiri to set up free Wi-Fi hotspots across
400 select railway stations throughout the country to
offer seamless connectivity to passengers.
 Facebook has decided to rebrand its Internet.org
programme to 'Free Basics' for providing more
services and stronger security measures.
 Study by researchers at the Yale University, USA
shows that there are over 3 trillion trees on Earth,
based on ground survey data and satellite pictures.
AUGUST 2015
UK AND INDIA CODUCT ‘INDRADHANUSH’
Ten day bi-lateral air exercise between Indian and
British Air forces named Indradhanush concluded in
Britain. Indian Sukhoi Su-30s fighter jets competed with
British Royal Air Force’s Eurofighter Typhoon aircrafts
in the exercise.

BSF PLANTS OVER 4 LAKH TREES
As part of the Golden Jubilee Year of Border Security
Force, the sentinels of Indian borders planted more than
4 lakh saplings at its head quarters and units across the
country on August 12 between 10 to 10.30 am. BSF was
raised on Dec 1, 1965.
ISRO LAUNCHES GSAT-6 SUCCESSFULLY
The Indian Space Research Organisation (ISRO)
launched its twenty-fifth home-made communications
satellite GSAT-6 in space on August 27, using the Geo-
synchronous Satellite Launch Vehicle (GSLV-D6) that
uses an India made cryogenic engine. The 2,117 kg
Indian-made satellite will help India's defence forces to
communicate with each other on secure lines using
special small hand held devices.
 Mahindra Defence Systems Ltd and Europe’s
Airbus Helicopters set up a joint venture to manu-
facture military helicopters for the first time in India.
 India’s first Integrated Underwater Harbour Defence
and Surveillance System was commissioned in Kochi,
Kerala to beef up coastal security.
SATELLITE NAMED AFTER KALAM
A global satellite for earth observation and disaster risk
reduction -- GlobalSat for DRR -- proposed under the UN
framework will be named as “UN Kalam GlobalSat” as a
tribute to the vision of the celebrated rocket scientist
and former Indian President, APJ Abdul Kalam.
SCIENCE MUSEUM IN RASHTRAPATI BHAVAN
A new Science and Innovation Museum called
'Navachara Kaksh' was inaugurated at the Rashtrapati
Bhavan on August 5. Promoted by Intel India, it has a
compelling mix of information, scientific know-how and
inspiring innovation designed to encourage young
people on the path to scientific discovery and learning.
INFOSYS OFFERS ‘AIKIDO’ TO ITS CLIENTS
India’s second largest IT services company Infosys has
announced its new business strategy - ‘Aikido’, three
enhanced service offerings in design thinking, platforms
and knowledge-based IT (KBIT). The three services are
Ai in Platforms, Ki in knowledge-based IT and Do in
Design Thinking.
GOOGLE FORMS NEW COMPANY ‘ALPHABET’
Google has reorganized itself into a multiple
company organization under a new umbrella company
called Alphabet. Google will now be the biggest
company in the fold of Alphabet. The new company will
be headed by Google co-founder Sergey Brin as
President and the other co founder Larry Page will serve
as CEO.
GOOGLE LAUNCHES ‘INTERNET SAATHI’
Google India launched in Mumbai, a special programme
named Internet Saathi in collaboration with Tata Trust
on July 3 to bring more women online. The objective of
the programme is to empower rural women and their
communities by enabling them to use Internet in their
daily lives.
NEON GAS DETECTED ON MOON
NASA’s Lunar Atmosphere and Dust Environment
Explorer (LADEE) has confirmed the presence of
glowing neon gas in the moon’s atmosphere. Neon gas is
commonly used in electric signs on Earth because of its
intense glow. The spacecraft was made to crash on
moon’s surface on April 17, 2014.
VACCINE FOUND TO FIGHT EBOLA
After nearly 30,000 cases and 12,000 deaths, there's
finally some good news for Ebola virus victims. A new
vaccine named ‘rVSV-ZEBOB’, developed by the Public
Health Agency of Canada against the Ebola virus disease
has shown 100 % efficiency in a trial run that was
carried out in Guinea.
EXPERIENCE THE NEW WINDOWS 10
Microsoft Corporation rolled out on July 30th its new
operating system Windows 10 around the world with a
host of new features like Cortana, an Xbox app and
Microsoft Edge. The new version is available as free
down load and will be updated automatically.
UNIQUE SOLAR OBSERVATORY AT UDAIPUR
Asia’s biggest multi-application solar telescope (MAST)
has been started in the Udaipur Solar Observatory
(USO), one of the six GONG (Global Oscillations Network
Group) sites in the world. Unlike other telescopes, MAST
is capable to capture three dimensional aspects of the
solar magnetic fields. The observatory is a part of the
Physical Research Laboratory under Deptt. of Space.

JULY 2015
INS VIRAAT TO BECOME A MUSEUM
INS Viraat, the oldest aircraft carrier in the world, will
soon be converted into a museum. It will be docked at
the shores of Kakinada port on Andhra coast and is to be
decommissioned in 2016. It was first commissioned in
1959 in the British Royal Navy as HMS Hermes and was
transferred to India in 1987.
‘AKASH’ INDUCTED INTO AIR FORCE
The ingeniously-developed supersonic surface-to-air
missile "Akash" was formally inducted into the Indian
Air Force in Gwalior. It has a speed three times faster
than that of sound and can hit eight targets at a time. It
has already been inducted into the Indian Army.
 The USA has agreed to provide technological support
to India for building the next aircraft carrier and the
Light Combat Aircraft jet engine.
 India and Russia have agreed to jointly manufacture
200 military helicopters in India.
 India test-fired its indigenously developed anti-tank
guided missile ‘Helina’ in Jaisalmer, Rajasthan. It can
hit a target up to seven km away from a helicopter.
 The indigenously-built Inshore Patrol Vessel (IPV)
ICGS Rani Durgavati was commissioned by the Indian
Coast Guard in Vishakhapatnam.
ISRO TESTS ITS CRYOGENIC ENGINE
The ISRO successfully test-fired the first indigenous
high-thrust cryogenic rocket engine for more than its
full duration at its Propulsion Complex at Mahendragiri
in southern Tamil Nadu. The engine was run for 800
seconds, which is 25 per cent more than the burn
duration of the engine during flight. This test will boost
India’s Geosynchronous Satellite Launch Vehicle, GSLV-
Mark III project aimed at carrying four-tonne payloads.
ISRO LAUNCHES ITS HEAVIEST EVER PAYLOAD
The Polar Satellite Launch Vehicle PSLV C-28
successfully put into orbit five British satellites within
20 minutes of its lift off from Satish Dhawan Space
Centre, Sriharikotta, Andhra Pradesh. It was Indian
Space Research Organisation’s biggest and the heaviest
commercial launch till date. The overall liftoff mass of
the five satellites added up to 1,440 kg that was placed
at a height of about 653 km above the earth.
RASHTRIYA AVISHKAR ABHIYAN
The HRD Ministry has launched a Rashtriya Avishkar
Abhiyan under which the government schools will be
mentored by top-level higher education institutes like
IITs, IIMs, Universities etc. to inculcate a spirit of
inquiry, creativity and love for science and mathematics
among school children. The govt. has decided to name
this programme after late Sh. A.P.J. Abdul Kalam.
WORLD’S LARGEST RADIO TELESCOPE
China is about to complete construction of the world's
largest single-aperture radio telescope FAST in 2016.
Built in the deep mountains of China’s Guizhou province,
the diameter of the telescope’s reflector will be 500
meters and will be made up of 4,450 panels. Each panel
is an equilateral triangle with a side length of 11 metres.
NEW HORIZONS PASSES BY PLUTO
NASA’s New Horizons spacecraft has provided the
closest-ever pictures of the Pluto, showing the details of
its geology. It was launched nine years ago, and is still
going on at a speed of 50,000 kmph.
EARTH LIKE PLANET DISCOVERED
Astronomers at NASA have found a planet which is 'the
closest twin to Earth' ever seen. Named Kepler-452b, it
is the smallest world discovered orbiting in the
habitable zone of a star. It is located about 1,400 light
years away in the constellation Cygnus.

JUNE 30 TO HAVE LEAP SECOND
June 30 this year will officially be a bit longer than usual
because an extra second, or 'leap' second, will be added
to the day. According to NASA, the earth's rotation is
gradually slowing down a bit, so leap seconds are a way
to account for this change.
FIRST EVER VACCINE AGAINST MALARIA
The world's first malaria vaccine Mosquirix has got a
green signal from the European drugs regulators. It has
been licensed for use on babies in Africa to contain the
risk of the mosquito-borne disease.
ONLINE SIGNING SERVICE LAUNCHED
eMudhra Ltd of Bengaluru became the first company in
India to launch online electronic signature service
called eSign. Based on the Aadhaar number, these
signatures are legally valid under the Information
Technology Act, 2000.
SOLAR PLANE CREATES NEW RECORDS
Solar Impulse, the solar-powered airplane, created two
new world records when it landed in Hawaii after
making a historic 7,200 km flight across the Pacific in
118 hours from Nagoya, Japan. The distance covered
and the times spent in the air are the new records by a
manned, solar-powered flight.
CLIMATE SCIENTISTS MEET IN PARIS
Nearly 2,000 climate scientists gathered in Paris for a
four day international science conference to deliberate
on curbing the greenhouse gas emission levels. The
meet was in preparation for the forthcoming UN climate
conference to be held in December 2015, at which 195
nations will finalize a new global climate pact.
 A tiny butterfly species has been discovered in the
forests of Changlang, Arunachal Pradesh. It has been
named Banded Tit (Hypolycaena Narada).
 Facebook has launched a new version of its app-
Facebook Lite, a lighter version optimised for slower
data connections for Android phones in India.
INTERNATIONAL
SEPTEMBER 2015
UNGA ADOPTS 17 SDGs
United Nations General Assembly formally adopted on
Sep 25 the new global 17 sustainable development goals
(SDGs) that aim to end poverty, hunger, assure gender
equality, and build a life of dignity for all, over the next
15 years. These goals cover three important aspects -
economic growth, social inclusion and environmental
protection.
UN SECURITY COUNCIL REFORMS
The UN General Assembly has unanimously adopted a
document on reform of the Security Council for
discussions at its 70th session, boosting India's bid for a
permanent seat in the revamped world body. India
termed this as "historic" and "path-breaking"
development for achieving UNSC reforms.
US INDIANS LAUNCH ‘MISSION 2022’
The three million strong Indian diaspora (community)
in the USA has launched "Mission 2022" in partnership
with the Confederation of Indian Industries to promote
and strengthen the business ties between two countries.
NEPAL GETS A NEW CONSTITUTION
Nepal's parliament has overwhelmingly approved a new
constitution, which will come into effect from Sep 20. It
comes after years of political wrangling, while Nepal
was governed by an interim constitution after the
monarchy was abolished in 2008.
NEPAL SAYS ‘NO’ TO HINDU STATE
Nepal’s Constituent Assembly on Sep 14 rejected the
demand for converting the country in to a Hindu state,
sparking violent protests across the nation. Nepal was
Hindu state for centuries when kings ruled, but has been a
secular state since the monarchy was abolished in 2006.
PENTAGON TO HAVE INDIA SPECIAL CELL
The US Defence headquarters Pentagon has established
a first-ever country special cell-India Rapid Reaction
Cell to strengthen its defence ties with India and to
accelerate the process of co-development and co-
production of military equipment in the country.

W20 GROUP LAUNCHED BY G20
The Group of leading economies G-20 at their meet of
Finance Ministers in Ankara, Turkey, launched a new
grouping – W20 (women 20) aimed at boosting the role
of women in global economic growth.
CANADA SLIPS INTO RECESSION
Canada, world's 11th-biggest economy has fallen into a
recession, dragged down by falling energy prices and
economic troubles in China. Canadian economy
retreated @ 0.5 per cent in the quarter ending 30th June,
after sliding 0.8 percent the previous quarter.
Negative GDP growth in two consecutive quarters is the
technical definition of a recession.
 In recently concluded 2015 Singapore General
Elections, People’s Action Party (PAP) led by Prime
Minister Lee Hsien Loong has emerged victorious.
 The highest mountain of North America - Mt
McKinley has been renamed as Denali by the US
President to honour the sacred status of Denali by
Alaska Natives.
 Two-day Conference of G-20 Finance Ministers and
Central Bank Governors held in Ankara, Turkey on
September 4 and 5.
 As per the new secular constitution of Nepal, Cow has
been declared as the National Animal of Nepal.
AUGUST 2015
INDONESIA SINKS 38 FOREIGN BOATS
In the biggest action of its kind to date, Indonesia sank
38 intruding foreign fishing vessels on August 18 to
demonstrate the country’s seriousness concerning the
protection its territorial integrity.
KAZAKHASTAN TO HAVE URANIUM BANK
The International Atomic Energy Agency (IAEA) and
Kazakhstan have signed an agreement to create the
world's first internationally-controlled bank of low-
enriched uranium to ensure nuclear fuel supplies for
power stations and preventing its use for weapons.
WORLD BIOFUEL DAY – AUGUST 10
It is observed every year on 10th August. On this day in
1893, Sir Rudalph Diesel (inventor of the diesel engine)
for the first time successfully ran mechanical engine
with Peanut Oil.
UN FUNDS FOR BANGLA SOLAR SYSTEMS
Bangladesh has become the first country to receive
funds from UN for solar home systems. It received $
3.56 million Carbon Credit from UN Framework
Convention for Climate Change (UNFCCC). Solar home
systems are helping Bangladesh cut carbon emissions
by reducing use of kerosene in rural areas.
WESTERN US BATTLES MASSIVE WILDFIRES
In United States, nearly 30,000 firefighters and support
staff were battling massive wildfire blazes across ten
western states where millions of acres of forests and
multiple buildings have burned. Over 7.16 million acres
have gone up in flames across the country this year.
ZUCKERBERG IS RICHEST UNDER 35
List of Top 20 Wealthiest People Under 35 compiled by
the global wealth intelligence and prospecting company
Wealth-X ranks Facebook co-founder and CEO Mark
Zuckerberg as the wealthiest individual with a personal
fortune of $ 41.6 billion. No Indian is featured on the list.
ROBERT DOWNEY IS THE RICHEST STAR
The Hollywood star Robert Downey Jr was ranked as
the world's top-earning actor by Forbes, with earnings
of $ 80 million during 12 months ending June 2015. He
was followed by Jackie Chan at $ 50 million. Bollywood
actors Amitabh Bachchan and Salman Khan were tied at
7th spot, earning $33.5 million each.
70TH ANNIVERSARY OF HIROSHIMA TRAGEDY
City of Hiroshima in Japan observed on August 6 the
70th anniversary of the first atomic bomb being
dropped by a US aircraft. The bombing - and a second
one on Nagasaki three days later, brought an end World
War II, but only after claiming over 140,000 lives.
SINGAPORE REVELS 50 YEARS OF FREEDOM
Singapore marked 50 years of independence on August
9 with nationwide celebrations, including a huge
military parade and firework display that paid tribute to
the late founding leader Lee Kuan Yew.
KUDOS FOR GRAMEEN BANK
Bangladesh's Grameen Bank has found a place in
Fortune's inaugural 'Change the World List' for creating
economic opportunities for the poor and bringing
unbanked people under financial services.

 Japan’s leading financial media house - Nikkei to buy
the noted European financial paper - Financial Times
from UK’s Pearson in a $1.3 billion deal.
 As per the U N report ‘World Population Prospects:
The 2015 Revision’, India is likely to become the most
populous nation by 2022, surpassing China.
 After a run of poor economic data, China devalued
the Yuan on August 11, guiding the currency to its
lowest point in past three years.
JULY 2015
BRICS SUMMIT HELD IN UFA
The seventh BRICS summit was held at Ufa in Russia..
The theme of the summit was “BRICS partnership - a
powerful factor for global development”. The meet was
attended by Indian prime minister.
Mr Modi suggested “Dus Kadam" or 10 steps for
boosting cooperation among the BRICS nations. These
are – A trade fair, a railway research centre, cooperation
among supreme audit institutions, a digital initiative, an
agricultural research centre, a forum of state/local
governments among the BRICS nations, cooperation
among cities in the field of urbanization, an annual
sports meet, first major project of the New Development
Bank to be in the field of clean energy and a film festival.
BRICS LAUNCHES NEW DEV BANK
The BRICS group of emerging economies has launched
its New Development Bank (NDB) in Shanghai. The NDB
will lend money to developing countries to help finance
infrastructure projects. The bank is seen as an
alternative to the World Bank.
BRICS TO START FX POOL
India will contribute $18 billion to the $100 billion
foreign-exchange reserve pool being set up by the BRICS
grouping to help each other "in case of any problems
with dollar liquidity". Brazil and Russia will also
contribute the same amount while China and South
Africa will contribute $41 billion and $ 5 billion,
respectively.
INDIA INDUCTED INTO SCO
PM Modi also attended the SCO – Shanghai Cooperation
Organization meet at Ufa. The SCO decided to include
India and Pakistan as a full member to enhance
connectivity, combat terror and create an environment
for boosting trade by easing barriers. Currently, both
India and Pakistan enjoy an observer status.
WTO TO CUT PRICES OF IT PRODUCTS
The World Trade Organization on July 24 finalised a list
of 201 information technology products to be freed from
import tariffs. It is the first global tariff-cutting deal in
18 years which will result in reduction of prices for
products such as computers, touch-screen devices,
games consoles and hi-fi systems causing a boost in
international trade.
SUEZ CANAL-II OPENED FOR TEST RUN
Trial run of the Egypt's second Suez Canal went off
successfully on July 25. The 72km (44 mile) route allows
two-way traffic and can accommodate larger vessels.
The original Suez Canal opened almost 150 years
ago and links the Mediterranean Sea with the Red Sea.
NUCLEAR DEAL FINALIZED WITH IRAN
A landmark nuclear agreement was finalized between
Iran and USA in Vienna to allow the UN inspectors to
visit Iranian military sites as part of their monitoring
duties. Under the deal, Iran would have the right to
challenge the UN request and an arbitration board
composed of Iran and the six world powers that
negotiated with it, would have to decide on the issue.
GREECE AGREES TO EUROZONE TERMS
In a referendum on July 5 to determine whether Greece
should accept the lenders-proposed bailout plan that
envisages serious spending cuts and tax increases,
voters resoundingly gave a ‘no’ verdict, backing Prime
Minister Alexis Tsipras.
However, on July 13, Euro zone leaders led by Germany
clinched a deal with Greece to negotiate a third bailout
package of $86 billion to keep the near-bankrupt country
in the euro zone.
On July 15 the Greek Parliament approved the austerity
bill as demanded by its bailout creditors. The bill
imposing sweeping tax hikes and spending cuts will clear
the way for availing the bailout package.
WORLD POPULATION DAY OBSERVED
The World Population Day was observed on July 11.
This year’s theme was 'vulnerable populations in
emergencies', which has been set against the backdrop
of the growing number of displaced people.
The United Nations Development Programme had, in
1989, recommended July 11 as World Population Day to
draw attention to the importance of population issues.

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