Govt.’s clear policy will push growth beyond 5.7%: Jaitley

Expressing confidence and optimism on the state of the economy, Union Finance Minister Arun Jaitley said with the long-term impact of all the initiatives taken by the Modi government setting in, growth in the coming quarters could be higher than the 5.7 per cent at which the economy expanded during April-June.

Mr. Jaitley attributed the improved sentiment to the government’s clarity in policy direction and its speedy decision-making in its first 100 days and highlighted the reforms and policy measures it was planning to roll out in the coming weeks.

Early rollout of the Goods and Services Tax (GST) is at the top of the government’s agenda, he said adding that he planned to take up with major political parties the enlargement of the exemptions under the Land Acquisition Act.

Addressing reporters here on the steps the government had taken during its first 100 days, the Finance Minister said though at the time of presenting the Budget he had accepted the challenge of a “daunting” fiscal deficit target of 4.1 per cent of the GDP, it now seemed achievable and his confidence in it was greater.

To a question on the scope for lowering interest rates to spur investments in the economy, he sent out an unambiguous signal to the Reserve Bank. He said he hoped the RBI would cut them very soon, and added that left to himself, he would reduce them “now.”

He said he expected the Insurance Bill, referred to a Parliament Select Committee earlier this month, to be passed in the next session. On the ambitious disinvestment target the government had set, he said the plan would begin to roll out in a few days.

Mr. Jaitley said there was a sea change in the investment sentiment today. Even international investors were looking at India with curiosity and the impact of this would become visible over the next few quarters.

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Day To Day Current Affairs - 30th August 2014 By BankExamzGuru.BlogSpot.In

ear Friends,
This post includes the current affairs on 30th August 2104.
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Day To Day Current Affairs - 30th August 2014

1. India, Japan sign MoU to develop Varanasi into ‘smart city’
i. Varanasi, which Prime Minister Narendra Modi represents in the Lok Sabha, will be developed into a ‘smart city’ by using the experience of Kyoto, the ’smart city’ of Japan, under a pact signed b/w India & Japan.

ii. A Partner City MoU was signed by Indian Ambassador Deepa Wadhwa and Kyoto Mayor Daisaka Kadokawa at a ceremony witnessed by Modi and his Japanese counterpart Shinzo Abe.
iii. The MoU, which was signed soon after Modi’s arrival here on a five-day visit, provides for cooperation in heritage conservation, city modernisation and cooperation in the fields of art, culture and academics, External Affairs Ministry spokesman Syed Akbaruddin told reporters. This will serve as framework for Smart heritage city programme between the two countries, he added.

Note: Kyoto, which is a heritage city with Buddhist culture, provides special symbolism to the visit as the Prime Minister has the vision of “rejuvenating” Indian cities.

2. President confers National Sports Awards to eminent sportspersons
i. President Pranab Mukherjee presented the National Sports Awards to eminent sportspersons on the occasion of National Sports Day at Rashtrapati Bhavan yesterday. Boxer Jai Bhagwan, shuttler V. Diju and shooter Heena Sidhu are among 14 sports persons who received the Arjuna Award - 2014 for their outstanding performance in the field of sports.

The awardees:
Arjuna award: Abhishek Verma (archery), Tintu Luka (athletics), H.N. Girisha (para-athletics), V. Diju (badminton), Geethu Anna Jose (basketball), Jai Bhagwan (boxing), R. Ashwin (cricket), Anirban Lahiri (golf), Mamta Pujari (kabaddi), Saji Thomas (rowing), Heena Sidhu (shooting), Anaka Alankamony (squash), Tom Joseph (volleyball), Renubala Chanu (weightlifting), Sunil Kumar Rana (wrestling).

Dronacharya award: Mahabir Prasad (wrestling); Lifetime achievement: N. Lingappa (athletics), G. Manoharan (boxing), Gurcharan Singh Gogi (judo), Jose Jacob (rowing).

Dhyan Chand award: Gurmail Singh (hockey), K.P. Thakkar (swimming-diving), Zeeshan Ali (tennis).

Tenzing Norgay Awards: Land adventure: Subedar Jagat Singh, Passang Tenzing Sherpa; Air adventure: MWO Surender Singh; Lifetime achievement: Wg. Cdr. (retd) Amit Chowdhury.

Maulana Abul Kalam Azad Trophy: Punjabi University, Patiala.

Rashtriya Khel Protsahan Puraskar: Oil and Natural Gas Corporation (employment of sports persons and sports welfare measures); Jindal Steel Works (community sports–identification and nurturing of budding/young talent); Guru Hanuman akhara (establishment and management of sports academies of excellence); Child Link Foundation of India–Magic Bus (other forms of sports activities not covered in the categories mentioned in the schemes).

Note: i. Arjuna, Dronacharya and Dhyan Chand Awardees receive statuettes, citations and cash prize of 5 lakh rupees each, whereas recipients of Rashtriya Khel Protsahan Puruskar were given Trophies.
ii. No sportsperson was selected for Rajiv Gandhi Khel Ratna Award this year.

3. Indian Bank to revise FCNR (B) term deposits
i. Public sector Indian Bank will revise the interest rate on foreign currency non-resident (banking) term deposits from tomorrow.
ii. “For FCNR (B) deposits, in USD, the revised interest rate has been revised to 2.34 per cent (from 2.36 per cent) for deposits of one year and above but less than two years,” the Chennai-based bank said in a statement.
iii. For deposits of two years and above but less than three years, it has been revised to 2.71 per cent from the existing 2.76 per cent.
iv. Interest rates have been revised to 3.64 per cent for deposits of three years and above but less than four years from the existing 3.71 per cent, it said.

4. Malaysia, India to review economic cooperation pact
i. Malaysia and India will soon review their economic cooperation pact, signed in 2011, to chart out ways to enhance and diversify trade further, the Indian High Commissioner to Malaysia, T S Tirumurti, has said.
ii. “The two sides are expected to review the Comprehensive Economic Cooperation Agreement (CECA) either in December or February next year,” he said.
iii. He said, although, the agreement had helped in a big way and the bilateral trade now stood at $13.38 billion in 2013, as per Malaysian statistics, the trade balance was in Malaysia’s favour.
iv. Malaysia exported goods worth $9.95 billion to India, while it imported $4.44 billion from India last year.
v. The CECA, which came into force on July 1, 2011, is a free trade agreement, which covers trade in goods and services and investment, as well as, economic cooperation.

5. Noted historian Bipin Chandra passes away

i. Noted historian Bipin Chandra died today at his residence after prolonged illness. He was 86.
"He had not been keeping well since last few months.
ii. A Padma Bhushan awardee, Chandra had donned multiple roles including that of chairperson of the Centre for Historical Studies, Jawaharlal Nehru University, Member of the University Grants Commission (UGC) and the Chairman of the National Book Trust (NBT).
iii. Considered to be a specialist in economic and political history of India, Chandra had authored several books including 'The Rise and Growth of Economic Nationalism', 'In the Name of Democracy: The JP Movement and the Emergency', 'Nationalism and Colonialism in Modern India' and 'The Making of Modern India: From Marx to Gandhi', among others.
iv. The left leaning author had founded the journal 'Enquiry' and was a member of its editorial board for a long time.
v. Born in 1928 in Kangra district of Himachal Pradesh, Chandra studied at the Forman Christian College, Lahore, Stanford University, US and the University of Delhi.
vi. He worked as the Reader at Hindu College of Delhi University and then became the professor of History at Jawaharlal Nehru University.

6. US actor Harry Belafonte to receive Jean Hersholt Humanitarian Oscar Award
i. US actor and singer Harry Belafonte was named for honorary Jean Hersholt Humanitarian Oscar Award on 29 August 2014. Jean Hersholt Humanitarian Oscar Award is one of the three Governor's Award given by the Academy of Motion Pictures Arts and Sciences for lifetime achievement.
ii. The academy noted his films such as Carmen Jones, Odds Against Tomorrow and The World, the Flesh and the Devil strived to bring attention to the injustices of racism and inequality. He will recieve the award in November 2014.

About Harry Belafonte
Belafonte, also known as the King of Calypso, who has spent much of his life campaigning for various causes including Aids awareness, famine relief, education and civil rights. He was a supporter of the Civil Rights Movement and marched alongside Martin Luther King Jr. He was also named as a UNICEF Goodwill Ambassador in 1987.

7. India Signed agreement with World Bank for MSRPII project
i. India on 29 August 2014 signed loan agreement with World Bank for Mizoram State Roads Project (MSRP II). As per the agreement, soft loan window of World Bank, International Development Agency (IDA) will provide assistance of 107 million US dollars for the Project.
ii. The agreement was signed by Nilaya Mitash, Joint Secretary (MI), Department of Economic Affairs and Onno Ruhl, Country Director, World Bank, India.
iii. The objective of the project is to enhance transport connectivity along regional trade corridors in Mizoram.The project will focus on improvement of priority cross-border roads connecting Myanmar and Bangladesh , as also on trade related infrastructure.
iv. Thus, the MSRPII will be an important milestone in enhancing the connectivity for the state of Mizoram and the rest of North-East India with Myanmar and Bangladesh.
v. The project is the first project facilitating regional connectivity in transport sector undertaken in India with Bank support.

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Banking Awareness Questions - 30th August 2014 by Gandhi Raveendra Reddy

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Here I am sharing some banking questions which are important for bank exams.
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Banking Awareness Questions - 30th August 2014

231. What is Corporate Governance:
Answer: Management of an organisation to enhance value for all stakeholders .

232. Commission of Govt. business other than Pension:
Answer: 9 paisa per Rs. 100 turnover.

233. Expand HTML:
Answer: HyperText Marttup Language

234. Number of alphabets in a PAN Card:
Answer: Total 10, out of which 6 alphabets and 4 Numerals.

235. Oldest and largest foreign bank in India:
Answer: Standard Chartered Bank

236. What is Internet:
Answer: Network for Networks

237. Information Technology Act came in to effect from :
Answer: 1.6.2000

238. 'Buy now Pay later' is related to:
Answer: Credit Card

239. Maximum dividend payout ratio for a bank is:
Answer: 40%
240. What enables computers to interact with other network through telephone lines:
Answer: Modem

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Day To Day Current Affairs - 29th August 2014 By Gandhi Raveendra Reddy

Dear Friends,
This post includes the current affairs on 29th August 2104.
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Day To Day Current Affairs - 29th August 2014

1. National Sports Day was celebrated on the 29 August
i. National Sports Day was celebrated on the 29 August throughout the country.
ii. National Sports Day is celebrated to mark the birth anniversary of hockey player Dhyan Chand. This day is celebrated by organizing friendly matches between different Indian hockey teams at the Dhyan Chand National stadium in New Delhi.
iii. The National Stadium was constructed in the respect and honor of Dhyan Chand.

Major Dhyan Chand – The Hockey Wizard
Major Dhyan Chand was India’s greatest hockey player. He has scored over 1000 goals between 1926 and 1948. He helped India win 3 Olympic Gold medals including the first in 1928 (Amsterdum Olympic games) and then in 1932 ( Los Angeles Olympic games) and 1936 (Berlin Olympic games).

2. Sivaramakrishnan Committee submitted report to Union Home Ministry on AP Capital
i. Sivaramakrishnan committee constituted by the Union Government to suggest the place to build the capital city of Andhra Pradesh submitted its report to the Home Minister Rajnath Singh in New Delhi.
ii. The committee gave options about the capital and positive and negative points of the places. But the committee did not Zero in on any particular place for the capital. It only mentioned the availability of lands and other factors.
iii. Interestingly, the committee objected Vijayawada to be the capital, in the context of the AP government transferring certain departments to Vijayawada, declaring it as the future capital.

3. Manipur Governor Vinod Kumar Duggal resigned
i. Vinod Kumar Duggal resigned as Manipur Governor. He was appointed as governor of Manipur by President Pranab Mukherjee on 23 December 2013.
ii. Thus, Vinod Kumar Duggal became the ninth governor to resign since the NDA Government came to power in May 2014. Eight other governors -- M.K. Narayanan (West Bengal), Ashwani Kumar (Nagaland), B.L. Joshi (UP), B.V. Wanchoo (Goa) Shekhar Dutt (Chhattisgarh), Sheila Dikshit (Kerala), V Purushothaman (Mizoram), K. Sankaranarayanan (Maharashtra) had resigned before.

4. God of Antarctica written by Yashwardhan Shukla
i. Delhi-based 13 year old school boy Yashwardhan Shukla authored a novel, Gods of Antarctica. The book is fictional tale of gods and monsters. It was put into print by the Readers Paradise publishers.
ii. The boy said Amish Tripathi’s ‘Shiva’s Trilogy’ and J K Rowling’s Harry Potter series has inspired him in writing. He also said Rick Riordan remains his favourite author.

5. Australian PM Tony Abbott to visit India next week
i. Australian Prime Minister Tony Abbott is all set to make his first official visit to India next week to further strengthen the strategic partnership and promote trade and investment between the two sides.
ii. “I will travel to India and Malaysia from September 4 to 6. On my first visit to India as Prime Minister, I will visit New Delhi and India’s financial capital, Mumbai, to strengthen the strategic partnership between our two countries,” he said.
iii. Noting that the two nations have strong and growing economic and trade ties, he said India is Australia’s fifth largest export market with total exports of $11.4 billion.

6. Child marriage on rise in Kerala: UNICEF
i. Notwithstanding a better gender balance in the southern part of the country, child marriage has been found to be on the rise in Kerala in recent years, according to UNICEF.
ii. “In the southern part of India we have a relatively better gender balance which explains lower rates of child marriage. Nevertheless, recent studies have shown a rising rate in Kerala,” UNICEF’s Child Protection Specialist in India Dora Giusti said.
iii. “Child marriage is more common among certain groups and among disadvantaged communities. In Kerala it was not the case even a few years back, but of late there has been a rise in it due to migration from the northern part of India,” Ms. Giusti explained.
iv. According to a UNICEF report, in India there were more child marriages in rural areas than urban. While 52.5 per cent of currently married women in age group 20-24 years in rural areas and 28.2 per cent in urban areas got married before they were 18 years.
v. Although the gap between urban and rural areas has almost halved from 30.2 per cent in 1992-1993 to 18.6 per cent in 2007-2008, currently married women in rural areas were twice more likely to be child brides than their urban counterparts, the report said.
vi. Bihar has the highest incidence of child marriage at 68 per cent while Himachal Pradesh with around nine per cent has the lowest incidence, it stated.
vii. Six states — Rajasthan, Madhya Pradesh, Uttar Pradesh, Bihar, Jharkhand and West Bengal — have the highest incidence of child marriage ranging from 51.9 per cent to 68.2 per cent, the report revealed.

7. Cristiano Ronaldo crowned UEFA Best Player in Europe
i. Cristiano Ronaldo was on Thursday named the UEFA Best Player in Europe, defeating Bayern Munich duo Manuel Neuer and Arjen Robben for the prestigious award.
ii. Ronaldo earned 24 votes from a panel of European football journalists to claim the title in Monte Carlo just after the draw was made for the Champions League group stage.
iii. Neuer was second on 19 votes, ahead of his Bayern teammate Robben who took nine.
iv. It is the second time Ronaldo has picked up the award having also won in 2008 when playing for Manchester United in the Premier League. He is also currently the reigning FIFA World Player of the Year.

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Banking Awareness Questions - 29th August 2014 by Gandhi Raveendra Reddy

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Here I am sharing some banking questions which are important for bank exams.
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Banking Awareness Questions - 29th August 2014

221. Most popular bench mark rate for Indian money market for one day call rates is:
Answer: MIBOR

222. What is the Cash Reserve Ratio that the Overseas Banking units have to maintain while opening the branch in SEZs:
Answer: No requirement

223. The country that revalued its currency against the US dollar is:
Answer: China revaluated Yuan against US dollar.

224. What is the maximum amount for which the CGTMSE guarantee cover• is available:
Answer: Fund & Non Fund based Rs. 1 cr.

225. Who has formulated the 'Swaran Jayanti Gram Swarozgar Yojana:
Answer: Ministry of Rural Development

226. Which bank has started 'Abhay' credit counselling centres in association with NGO:
Answer: Bank of India.

227. Concept of Priority Sector came in the year __ :
Answer: 1972

228. What is the minimum and maximum number of persons that can form JLG for tenant farmers:
Answer: 4 to 10 .

229. What is the name of in-built device in a computer where data is stored:
Answer: Hard Disc

230. What is the target of correspondence in Hindi from Region C to Region C:
Answer: 55% of total letter sent

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Day To Day Current Affairs - 28th August 2014 By Gandhi Raveendra Reddy

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This post includes the current affairs on 28th August 2104.
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Day To Day Current Affairs - 28th August 2014

1. Prime Minister launches 'Pradhan Mantri Jan Dhan Yojana
i. The 'Pradhan Mantri Jan Dhan Yojana', an ambitious financial inclusion scheme under which the government intends to provide every household with a bank account and insurance cover, was launched by Prime Minister Narendra Modi on Thursday.
ii. The scheme, about which Modi made the announcement in his Independence Day speech, was launched across the country simultaneously amid his emphasis that it lies at the core of "our development philosophy of 'Sabka Sath Sabka Vikas'".
iii. '1.5 crore bank accounts will be opened on first day of Jan Dhan Yojana'
iv. Jan Dhan Yojana, a dream project to open at least one bank account to every household.
v. Noting that 10 crore people do not have bank account, the Finance Minister aims to cover 7.5 crore people under Jan Dhan Yojana by January 25, 2015.
vi. As a first step, under the scheme, every account holder will get a 'RuPay' debit card with Rs 30,000 life insurance besides accidental insurance of up to Rs 1 lakh.
vii. The scheme will provide overdraft, debt card facility," she said. "Jan Dhan Yojana will provide accidental insurance cover,".

2. Erdogan to be sworn in as Turkey's new president

i. Turkey's outgoing Prime Minister Recep Tayyip Erdogan is to be sworn in as president on Thursday to extend his more than decade-long domination of the country.
ii. Erdogan was due to take his oath of office at 1100 GMT (1630 IST) in Ankara and usher in a new era for Turkey, where he is expected to push for a new constitution and seek to further transform the country with development projects.
iii. Taking over Erdogan's post of prime minister is Foreign Minister Ahmet Davutoglu, a long standing ally who is expected to do little to challenge the Turkish number one.

3. Iran's Mirzakhani first woman to win prestigious math prize

i. An Iranian-born mathematician has become the first woman to win a prestigious global prize known as the Field Medal, the International Congress of Mathematicians has announced.
ii. Maryam Mirzakhani, a Harvard educated mathematician and professor at Stanford University in California, was one of four winners announced at the group's conference in Seoul.
iii. An expert in the geometry of unusual forms, she has come up with novel ways to calculate the volumes of oddly-shaped hyperbolic surfaces, which can be curved like a saddle or curly like a piece of crochet.
iv. Mirzakhani was born in Tehran in 1977 and earned her PhD in 2004 from Harvard University.
v. She has previously won the 2009 Blumenthal Award for the Advancement of Research in Pure Mathematics and the 2013 Satter Prize of the American Mathematical Society.
vi. The Fields Medal is given out every four years, to four separate winners.
vii. The other three winners this year were Artur Avila of France, Manjul Bhargava of Princeton University in New Jersey, and Martin Hairer of the University of Warwick in Britain.

4. IOC removes four independent directors appointed by UPA

i. After Governors, the Narendra Modi government is removing independent directors appointed by the previous UPA regime on PSU boards, beginning with sacking of four directors on the board of Indian Oil Corporation (IOC).
ii. IOC, the nation’s largest oil company, in a filing to the stock exchanges said, “K Jairaj, Nesar Ahmad, Sunil Krishna and Sayan Chatterjee have ceased to be Independent Directors on the Board of the company on August 27, 2014
iii. All the four directors were appointed to IOC board in March this year for a three-year term. Their appointment was to be confirmed/ratified by the company shareholders but IOC did not move a resolution to this effect at its annual general meeting (AGM) in Mumbai yesterday, leading to their cessation.
iv. The new government wants to change all previous UPA appointed directors but to start with it is looking at appointments that need confirmation now, they said.

5. Centre notifies minimum monthly pension, wage ceiling enhancement
i. Government has notified minimum monthly pension of 1,000 rupees and a higher wage ceiling enhancement to15,000 from 6,500 rupees for social security schemes run by retirement fund manager Employees Provident Fund Organisation.
ii. Both schemes will be implemented from 1st September of the next month. According to EPFO estimates, the raising of wage ceiling is expected to bring 50 lakh more workers under the ambit of social security schemes run by it.
iii. The government decision to fix pension of 1,000 rupees will benefit 28 lakh people including 5 lakh widow pensioners, who get less than this amount at present.
iv. EPFO had recently retained rate of interest to 8.75 per cent on provident fund deposits for the current fiscal year 2014-15.

6. SC directs DLF to pay Rs 630 cr fine imposed by CCI
i. Real estate major DLF was on Wednesday directed by the Supreme Court to deposit Rs 630 crore fine slapped on it by the Competition Commission of India (CCI) for allegedly resorting to unfair business practices.
ii. The apex court said the total ammount will be deposited within three months with its Registry pending the outcome of the appeal filed by DLF against May 19 order of Competition Appellate Tribunal's upholding the penalty of Rs 630 crore imposed by the CCI.
iii. The bench said so far as the interest on the amount was concerned it has to be determined as per the November 9, 2011 order of the CCI that was fixed at 9 per cent.
iv. It also directed DLF to file a fresh undertaking that in the event of dismissal of the appeal it will pay such amount as directed by the court.
v. DLF pleaded that it should be granted at least six months time to deposit the amount.

7. SRK becomes Interpol’s Ambassador of ‘Turn Back Crime’ campaign
i. Modern-era ‘Don’ Shah Rukh Khan has become the first Indian actor to be roped in as Ambassador of Interpol’s initiative ‘Turn Back Crime’ campaign, aimed at promoting greater awareness on how to prevent crime.
ii. The actor who gave new twist to Amitabh Bachchan’s character ‘Don’ in the Farhan Akhtar’s remake of the movie, tweeted late night yesterday, “Don on the right side of Interpol. How ironically cool is that...ha ha.”
iii. “Honoured to be the Ambassador for Turn Back Crime, the Interpol initiative. Thanx Mr. Noble for the opportunity,” the actor wrote on his social media page.
iv. The ‘Turn Back Crime’ campaign is aimed at raising public awareness that organised crime is often involved in seemingly unrelated crimes.

8. India beat England by 133 runs in second ODI
i. India defeated England by 133 runs under the Duckworth/Lewis method in the second One—day International match in Cardiff on Wednesday.
ii. Invited to bat, India scored 304 for six and then bowled out the hosts for 161 in 38.1 overs at Sophia Gardens.
iii. As per the revised target after the rain interruption, England needed 295 runs in 47 overs.

Brief Scores:
India: 304 for 6 in 50 overs (Suresh Raina 100, MS Dhoni 52; Chris Woakes 4/52)
England: 161 in 38.1 overs (Alex Hales 40; Ravindra Jadeja 4/28).

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Day To Day Current Affairs - 27th August 2014 By Gandhi Raveendra Reddy

Dear Friends,
This post includes the current affairs on 27th August 2104.
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Day To Day Current Affairs - 27th August 2014

1. Supreme court: People facing criminal, corruption charges shouldn't be made ministers
i. Sending a strong message that people against whom criminal and corruption charges have been framed be not inducted as ministers, the Supreme Court today said Prime Minister and Chief Ministers should desist from making such appointments and act in “national interest“.

ii. A five-judge Constitution bench headed by Chief Justice RM Lodha, however, stopped short of prescribing disqualification for such people from becoming ministers, leaving it to the wisdom of the PM and CMs not to recommend such names to the President and Governor.
iii. Observing that it cannot add disqualification in Article 75 (1) (appointment of PM and Council of Ministers), the Bench, however, said that the PM and CMs should not consider people with criminal antecedents and against whom charges have been framed in serious offences, including corruption, for appointment as ministers.
iv. It further said that the Constitution reposes immense trust in the PM and CMs and they are expected to act with constitutional responsibility and morality.

2. Mother Dairy, SBI launch 'SmartChange Card'
i. Dairy products major Mother Dairy and the State Bank of India today announced the launch of the 'SmartChange Card' for Mother Dairy booths in the National Capital Region.
ii. The card, introduced to facilitate convenience of payment has been rolled out 76 booths already and the company plans to expand coverage to 150 booths over the next three months.
iii. The card, priced at Rs. 25 at the time of issuance, will have a top up limit of Rs. 1,000 while the limit per transaction has been set at Rs. 500. Customers can use the card to shop for various items available at the booths, including milk and other dairy products, Safal products like fruit and vegetables and Dhara oil.

3. C.S.Verma elected as First President of Indian Steel Association
i. C.S.Verma was elected as First President of Indian Steel Association (ISA). Other members of the ISA were Sajjan Jindal, Chairman & Managing Director, JSW, Mr. TV Narendran, MD, Tata Steel, , P Madhusudan, CMD, RINL.

About ISA : The Indian Steel Association was formally launched on 26 August 2014 by the Major domestic steel producers of India.

4. Avia Indra-2014, the Indo-Russia maiden aerial exercise started
i. Indian Air Force (IAF) and Russian Federation Air Force (RFAF) Indo-Russian Air Force Exercise, Avia Indra-2014 at Astrakhan region, near the Caspian Sea in Russia.
ii. Avia Indra-2014 is the first Indo-Russia aerial exercise that involves the air forces of the two countries. The exercise will go on till 5 September 2014.
iii. The exercise is being conducted to boost cooperation between the air forces of two countries and involves aircraft like Su030MKI and Mi-17 helicopters.
iv. It also involves fighter pilots, helicopter pilots, missile combat crew, as well as engineers from the IAF along with their counterparts of the RFAF.

5. Reliance Jio Infocomm signed tower sharing deal with BSNL
i. Reliance Jio Infocomm (RJIL) on 26 August 2014 signed a deal with Bharat Sanchar Nigam Limited (BSNL) for sharing around 4000 mobile towers.
ii. Along with tower sharing deal, Reliance Jio signed Infrastructure sharing deal with Bharti Airtel, Viom Network, Ascend Telecom Infrastructure, Reliance Communications and American Tower Company to utilise their infrastructure.

6. Mithali Raj Remains Number One Batswoman in ICC Rankings

i. India captain Mithali Raj has retained the top spot in the latest International Cricket Council (ICC) women's rankings for batters.
ii. Mithali maintained her reign on the top with scores of 34 and 30, respectively, to be the second-highest run-scorer for her side in the series India lost 2-0 in England.
iii. Her teammate Smriti Mandhana is the biggest mover on the table, jumping 23 places to a career-high 40th, following her knocks of 32 and 74.
iv. England captain Charlotte Edwards has jumped five places to second position after leading her side to a thumping victory over India in the opening round of the ICC Women's Championship.

7. First private wildlife corridor to come up in M.P
i. With an aim to develop country’s first private wildlife corridor between Kanha and Pench Tiger Reserve, telecom major Vodafone and Grow-Trees.com will plant 3,00,000 saplings under its Corporate Social Responsibility (CSR) initiative.
ii. The company and Grow-Trees.com, the exclusive Indian planting partner for United Nation’s Environment Programme’s Billion Tree Campaign, today announced the launch of its joint initiative to create India’s first private wildlife corridor.
iii. “The corridor is being developed between Kanha-Pench Wildlife Reserve by planting 3,00,000 trees over a period of three years

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Banking Awareness Questions - 27th August 2014 by Gandhi Raveendra Reddy

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 Banking Awareness Questions - 27th August 2014

211. Material alteration:
Answer: Requires drawers authentication.

212. Possession & ownership with borrower :
Answer: Hypothecation

213. Safe Custody is covered under which act :
Answer: Indian Contract Act

214. Safe Deposit Locker relationship with banker is :
Answer: Lessor• Lessee.

215. Debt Equity Ratio :
Answer: Type of Solvency Ratio

216. Break even point means :
Answer: No profit no loss.

217. Target of agriculture finance :
Answer: 18% of ANBC or Credit balance of off Balance sheet items, whichever is higher.

218. Under RTI Act, the person seeking information should have qualifying eligibility of:
Answer: Indian Citizenship .

219. Minimum and maximum maturity period of a Commercial Paper:
Answer: 7 days and 1 year.

220. New name of the Ministry of NRI Affairs :
Answer: Ministry of Overseas Indian Affairs.

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Day To Day Current Affairs - 26th August 2014 By Gandhi Raveendra Reddy

Dear Friends,
This post includes the current affairs on 26th August 2104.
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Day To Day Current Affairs - 26th August 2014

1. Four new Governors appointed
i. Kalyan Singh has been appointed Governor of Rajasthan
ii. Vajubhai Rudabhai Vala appointed Governor of Karnataka
iii. Chennamaneni Vidyasagar Rao has been appointed Governor of Maharashtra and
iv. Mridula Sinha appointed Governor of Goa.
ii. Maharashtra Governor's post fell vacant yesterday when incumbent K Sankaranarayanan resigned after he was transferred to Mizoram.
iii. Post of the Governor of Karnataka has remained vacant since July end when former Law Minister H R Bhardwaj had completed his five year tenure while the post of Rajasthan Governor fell vacant after Margaret Alva completed her tenure early this month.
iv. Goa Governor's post fell vacant when former SPG chief B V Wanchoo resigned last month.

2. Kerala Governor Sheila Dikshit resigns
i. Kerala Governor Sheila Dikshit tendered her resignation on Tuesday, a day after she met President Pranab Mukherjee and Home Minister Rajnath Singh.
ii. The former Delhi chief minister was appointed the Governor of Kerala by the UPA-II government about five months ago.
iii. Ms. Dikshit said she will speak on the issue only after she gets an official word on the acceptance of the resignation.

3. EPFO retains interest rate on provident fund at 8.75%
i. Employees Provident Fund Organization (EPFO) has decided to retain interest rate on provident fund at 8.75 percent for the current fiscal.
ii. A decision in this regard was taken at the meeting of the Central Board of Trustees, the apex decision making body of the EPFO, in New Delhi today.

4. Indian origin Seema Malhotra appointed as Shadow Minister in U.K.
i. Indian – Origin Seema Malhotra was appointed as Shadow Minister in U.K. on 25 August 2014. Seema Malhotra became the first MP from any party to be shadow Minister.
ii. She belonged to Labour Party. Labour Party appointed Seema Malhotra to tackle domestic violence and related issues and to prevent violence against women and girls.
iii. She will replace Helen Jones. Helen Jones resigned from the post of Shadow Minister in July 2014.

5. Shiv Nadar gets ICSI award for corporate governance
i. Institute of Company Secretaries of India (ICSI) has bestowed the ICSI Life Time Achievement Award 2013 for Excellence in Corporate Governance to HCL Founder and Chairman Shiv Nadar.
ii. “HCL represents a culture of evolving globally acceptable standards of corporate governance. We are pleased to felicitate Nadar for his exemplary work in institution— building and good governance,” ICSI President CS R Sridharan said.

6. Ranjan Ben Bhatta is BJP's candidate for Vadodara LS seat
i. BJP today announced the name of Vadodara deputy mayor Ranjan Ben Bhatta as its candidate for the Vadodara Lok Sabha seat vacated by Prime Minister Narendra Modi.
ii. The party also announced the name of local municipal corporator Suresh Patel as the candidate for the Maninagar Assembly constituency that Modi represented as Chief Minister of Gujarat.
iii. It was widely speculated that BJP President Amit Shah would be fielded from the seat, but Shah has decided not to contest keeping in view the responsibility entrusted upon him in steering the party.
iv. The party has also declared the name of local leader Prem Singh Shakya as the candidate for the Mainpuri Lok Sabha seat in Uttar Pradesh vacated by SP chief Mulayam Singh Yadav.

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General English - Error Finding In Sentences - 26th August 2014 For Bank Exams By Gandhi Raveendra Reddy

Dear Friends,
Here, I am posting some questions on Error Finding in sentences which is a crucial part of General English section of any competitive exam. I hope you like this post. Try to mark your answers and comment your answers comments box below.

Read each sentence to find out whether there is any error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is no error, the answer is 5.

16. The scheme proposed (1)/ by
Sankar (2)/ is preferable than
the schemes proposed (3)/ by
the rest of the executives. (4)/
No error (5).

17. Since the two first chapters (1)/ are very
interesting, (2)/ I have decided (3)/ to read
the book and complete it at a stretch. (4)/
No error (5).

18. As a result of (1)/ resentment, (2)/ not less
than thirty members of Legislative
Assembly (3)/ belonging to different districts
have tendered their resignations. (4)/
No error (5).

19. The party held (1)/ a mammoth conference
for two days (2)/ in Hyderabad to mark its
Silver Jubilee. (3)/ Hundreds of party men
attended the conference on both days. (4)/
No error (5).

20. We were very happy that (1)/ the audience
responded well (2)/ and gave all the speakers
(3)/ a patiently listening. (4)/ No error
(5).

21. Nagendra is (1)/ one of the (2)/ efficient (3)/
directors in the company. (4)/ No error (5).

22. She is not (1)/ attending the meetings (2)/
these days (3)/ since she has been sick for
six months. (4)/ No error (5).

23. It is a big and spacious library (1)/ but (2)/
the number of books (3)/ available in it is
small. (4)/ No error (5).

24. Despite (1)/ scoring nearly cent percent
marks, (2)/ in some subjects, he has not
been qualified (3)/ in the written examination.
(4)/ No error (5).

25. I cannot (1)/ undertake (2)/ such a strenuous
task today, (3)/ as I feel uneasy. (4)/ No
error (5).

26. An obedient clerk (1)/ to his officer (2)/ is
always (3)/ trustworthy as he renders
whole-hearted service. (4)/ No error. (5)

27. A large number of (1)/ students stood (2)/
on either side of (3)/ the road to greet the
Prime Minister. (4)/ No error (5).

28. The sailors on (1)/ the sinking boat (2)/ consider
the sight of an approaching ship (3)/ a
great luck. (4)/ No error (5).

29. He failed for six times (1)/ in his ardent
efforts (2)/ to reach his goal. (3)/ Ultimately,
he succeeded in his 7th attempt. (4)/ No
error (5).

30. The team is becoming strong (1)/ year by
year (2)/ as the players have (3)/ a regular
rigorous practice everyday. (4)/ No
error (5).

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Banking Awareness Questions - 26th August 2014 by Gandhi Raveendra Reddy

Dear Friends,
Here I am sharing some banking questions which are important for bank exams.
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Banking Awareness Questions - 26th August 2014

201. Cheque may be crossed by drawer, holder, banker :
Answer: All (Sec. 125)

202. Mortgage by Deposit of title of deeds is :
Answer: Equitable Mortgage• (Transfer of Property Act, Sec. 58F).

203. Mortgage is defined :
Answer: Transfer of Property Act Sec. 58(F)

204. Minor can be appointed as an Agent :
Answer: Principal is responsibIe (Sec. 184 of Contract Act).

205. A/c Payee crossing is not recognised by an act:
Answer: Outcome of custom and usuage.

206. Cheque validfiy period has now statutory sanction as per:
Answer: Sec; 138 of NI Act

207. Writing name of bank on face of Cheque with or without two parallel lines
Answer: Special Crossing. .

208. A/C payee crossing is direction to:
Answer: Collecting banker.

209. In CC a/c Garnishee Order applies to:
Answer: Credit Balance in CC

210. Unclaimed Deposit• 10 years and above :
Answer: RBI (Sec. 26 of Banking Regulation Act)

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Day To Day Current Affairs - 24th & 25th August 2014 By Gandhi Raveendra Reddy

Dear Friends,
This post includes the current affairs on 24th & 25th August 2104.
I hope You like this and share it on your time line.

Day To Day Current Affairs - 24th & 25th August 2014

1. Textiles Ministry, Flipkart join hands for handloom weavers
i. Textiles Ministry today inked a pact with homegrown e-retailing major Flipkart to provide an online marketing platform to handloom weavers across the country, an initiative to boost the handloom sector, empower the weavers and uplift manufacturing in the country.

ii. Textiles Minister Santosh Gangwar, who was present on the occasion, emphasised that the focus of this association should be to help weavers and weaver entrepreneurs to produce products in tune with the buyer requirements and grow them significantly so that they may become manufacturers not only at a local but also at a national level.
iii. This (MoU) will help us reach out to thousands of weavers across India... Through this initiative we are giving a direct platform to the weavers to reach out to the customers. There will be no middlemen.
iv. The customer will get access to variety of products across India. Flipkart will help them (weavers) to list on the marketplace,” Ankit Nagori, Vice President—Marketplace at Flipkart.

2. 'Gandhi' filmmaker Richard Attenborough dies at 90
i. Oscar-winning British filmmaker Richard Attenborough, renowned for his critically-acclaimed biopic on Mahatma Gandhi, has died at the age of 90.
ii. Lord Attenborough won an Academy Award for best director for 'Gandhi', one of many highlights of a distinguished career that spanned six decades, on both sides of the camera.
iii. One of Britain's leading actors before becoming a highly successful director, he appeared in films like 'Brighton Rock', World War II prisoner of war thriller 'The Great Escape' and later in blockbuster 'Jurassic Park' as a theme park developer.

3. U.S. Open Tennis Championships begins today
i. The U.S. Open Tennis Championships begin today. Serena Williams, who opens her quest for a third successive US Open title with a meeting against fellow African American Taylor Townsend tomorrow, said Arthur Ashe would have been proud.
ii. On Arthur Ashe Kids' Day that drew legions of young hopefuls to the National Tennis Center on Saturday, Williams pondered the significance of her clash against the 18-year-old Townsend and the legacy of Ashe, whose name graces the center court stadium.

4. Indira Sivasailam Endowment Award for T M. Krishna
i. Carnatic vocalist T. M. Krishna has been chosen for the fifth Indira Sivasailam Endowment Medal and Concert.
ii. The fifth Indira Sivasailam Endowment Concert will be held at The Music Academy in Chennai on September 25 during the Navaratri season.
iii. The artist is selected by a panel comprising members from the Endowments Committee of The Music Academy and Ms. Mallika Srinivasan (Chairman - TAFE Limited), daughter of late A. Sivasailam (Former Chairman - Amalgamations Limited) and late Indira Sivasailam.
iv. Every year, the Indira Sivasailam Endowment Fund recognizes an outstanding Carnatic musician based on an established set of criteria.

5. Renewable energy award for GERMI director
i. Gandhinagar-based Gujarat Energy Research and Management Institute (GERMI) Director, Prof T Harinarayana has been conferred with “Energy and Environment Foundation Global Excellence Award-2014 in Renewable Energy Sector” on August 21.

6. Maharashtra Gov K Sankaranarayanan quits
i. Maharashtra governor K Sankaranarayanan resigned from his office on 24 August 2014. He tendered his resignation in the backdrop of being transferred to Mizoram. He refused to take charge of his new assignment. His tenure would have ended in 2017.

7. RN Ravi appointed new chief of Joint Intelligence Committee
i. Government has cleared the name of R N Ravi as the new chief of Joint Intelligence Committee, a body tasked to assess intelligence gathered by various intelligence agencies including IB and RAW
ii. Ravi, a 1976 batch IPS officer from Kerala, who retired in 2012 as Special Director of Intelligence Bureau, will hold the charge for next three years in the rank and pay of a Secretary to the Government. The JIC functions under the National Security Council Secretariat.

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