july current affairs.text.marked

8/11/2019 July Current Affairs.text.Marked

1/29

www.BankExamsToday.com

Current AffairsJuly 2014

By Ramandeep Singh (B.com, MBA)

All rights reserved with author

6/28/2014


2/29

Current Affairs July 2014

By Ramandeep Singh Page 2

PoliticsModi scraps ministerial groupsPMO says move will ensure swifter decisions with greater accountability

Prime Minister Narendra Modi today struck down 30 existing Empowered Group of Ministers

(EGoMs)/Group of Ministers (GoMs), the preferred route adopted by the previous coalition regimes. The

move is aimed at making swifter decisions and bringing in greater accountability.

SC says media stings no basis for dismissalReinstates Haryana cop who was dismissed after a sting showed him taking bribe

The Supreme Court has ordered reinstatement of a police sub-inspector fired by the Mewat

Superintendent of Police in 2008, holding that no government servant could be dismissed merely on the

basis of any media sting operation showing him accepting bribe.

India gets its first tobacco-free village in NagalandGariphema village in Nagaland has been declared the countrys first tobacco-free village. The declaration

was made by Principal Secretary R Benchilo Thong on the occasion of World No Tobacco Day on

Saturday at the Gariphema Village Council hall near Kohima. It was a result of an initiative taken by the

Gariphema Village Council, Village Vision Cell and Village Students Union, Thong said.

Charges framed against Punjab DGP SharmaA local court today framed kidnapping and murder charges against

Punjab Director General of Police (HRD) SK Sharma and three other

police officers in a 24-year-old fake encounter case.

A shame: Rewari has nations lowest gender ratioTall claims made by health authorities to improve gender ratio in the district have proved hollow as the

birth registration records show the most dismal gender ratio of 674 females per 1,000 males in Rewari

district, which is the lowest sex ratio in the country.


3/29



Sumitra Mahajan is the new LS SpeakerSumitra Mahajan, one of the BJP's most experienced parliamentarians, is all set to be the Speaker of the

16th Lok Sabha. Parliamentary Affairs Minister Venkaiah Naidu confirmed this saying that senior leaders

from all parties, including the Prime Minister and Leader of Congress in the Lok Sabha, moved motions

proposing her name.

510 Lok Sabha members take oathUnited colours of India were on display in the Lok Sabha today as 510 newly elected members took oath

of office led by Prime Minister Narendra Modi, BJP veteran LK Advani and UPA chairperson Sonia

Gandhi.

CBI court convicts 18 Uttarakhand copsA CBI court today convicted 18 Uttarakhand policemen for their role in the killing

of an MBA student from Ghaziabad in Uttar Pradesh in a fake encounter on July

3, 2009, when the then President Pratibha Singh Patil was visiting the state.

Second terror attack on Karachi airportTaliban militants attacked a training camp of the Airport Security Force outside

the Karachi international airport, but fled after Pakistani forces repulsed the

assault, a day after an all-night siege at the facility left nearly 40 people dead.

No transfers for employees with differently abled kidsGovernment employees who have differently abled children to take care of will be exempted from routine

transfers and they will not be asked to take voluntary retirement on refusing such postings, the Centre has

said. A government employee with a disabled child serves as the main caregiver and any displacement of

such employee will have a bearing on the systemic rehabilitation of the child since the new environment

or set up could prove to be a hindrance for rehabilitation process, it said.


4/29

Cur

By Ramandeep Singh

Govt to modify Lokpal rulTaking a first step towards appoint

give more powers to the search co

and members of the anti-corruption

15 killed in AP gas pipelinAt least 15 people were killed and 1

Pradesh's East Godavari district foll

DU finally gives in, scrapsWeek-long impasse over admission

in to academic regulator UGCs dir

Programme (FYUP) and reverting t

Paddy MSP up by Rs 50 aThe government today announced

paddy to Rs 1,360 to encourage far

on inflation.

ent Affairs July 2014

es; more powers for search panel ent of the Lokpal, the government has decided to

mittee mandated to recommend names for appoint

body.

e blast 8 injured when a massive blaze raged through a vill

owing a blast in an apparently leaking gas pipeline t

FYUP s to 64 Delhi University colleges ended today with t

ctives on rolling back the controversial Four-Year

the old 10+2+3 format.

quintal s 50 per quintal increase in the minimum support p

ers to cultivate rice, but said the decision would no

Page 4

odify rules to

ent of chairperson

age in Andhra

his morning.

he varsity giving

ndergraduate

ice (MSP) of

t have an impact


5/29



Cabinet of Narendra ModiPrime Minister: Narendra Modi: Personnel, public grievances and pensions, department of atomic

energy, department of space, all important policy issues and other portfolios not allocated to anyminister.

Cabinet ministers:

Rajnath Singh: Home affairs

Sushma Swaraj: External affairs, overseas Indian affairs

Arun Jaitley: Finance, corporate affairs, defence

M Venkaiah Naidu: Urban development, housing and urban poverty alleviation, parliamentary affairs

Nitin Gadkari: Road transport and highways, shipping

D V Sadananda Gowda: Railways

Uma Bharati: Water resources, river development and Ganga rejuvenation

Najma A Heptulla: Minority affairs

Gopinathrao Munde: Rural development, panchayati raj, drinking water and sanitation

Ram Vilas Paswan: Consumer affairs, food and public distribution

Kalraj Mishra: Micro, small and medium enterprises

Maneka Gandhi: Women and child development

Ananth Kumar: Chemicals and fertilizers

Ravi Shankar Prasad: Communications and information technology, law and justice

Ashok Gajapathi Raju Pusapati: Civil aviation

Anant Geete: Heavy industries and public enterprises

Harsimrat Kaur Badal: Food processing industries


6/29


7/29



Manoj Sinha: Railways

Nihalchand: Chemicals and fertilizers

Upendra Kushwaha: Rural development, panchayati raj, drinking water and sanitation

P Radhakrishnan: Heavy industries and public enterprises

Kiren Rijiju: Home affairs

Krishan Pal: Road transport and highways, shipping

Sanjeev Kumar Balyan: Agriculture, food processing industries

Mansukhbhai Dhanjibhai Vasava: Tribal affairs

Raosaheb Dadarao Danve: Consumer affairs, food and public distribution

Vishnu Deo Sai: Mines, steel, labour and employment

Sudarshan Bhagat: Social justice and empowerment


8/29



EconomyCurrent rates

Bank Rate 9%

Repo rate 8%

Reverse repo rate 7%

CRR 4%

SLR 22.5%

Base rate 10-10.25%Saving deposit rate 4%

Term deposit 8-9%

Kundankulam Nuclear Power Plant achieves full powerBecomes Indias first nuclear plant to generate 1,000 MW

Kundankulam Nuclear Power Plant (KNPP) today attained its full generation capacity and became the

first nuclear plant in the country to generate 1,000 MW of power.

Mumbais Metro gets on trackAfter a long wait, the first Metro service in the bustling metropolis was rolled out today with the Chief MinisterPrithviraj Chavan flagging off the service even as over 1,00,000 passengers enjoyed the train ride within six hours ofits operations.

Udhampur-Katra rail line will be launched on 5 July 2014Railway authorities have successfully carried out a trial run on the newly-constructed railway line

between Udhampur and Katra that connects the Kashmir Valley. The trial run was conducted using a

departmental and materials train (DMT), which is helping in placing concrete on the track.

Vishal Sikka is new Infosys CEO; Murthy to step downIndias second largest software services exporter, Infosys, on Thursday announced Vishal Sikka as its

new CEO. The announcement came two days before the companys annual general meeting (AGM) on

June 14.


9/29



Railway fares up by 14.2%Freight charges hiked by 6.5%

Revision effective from June 25

Biting the bullet in an effort to revive the economy, the Narendra Modi government today approved a

steep hike in railway passenger fare and freight rates, which would also go a long way in reviving the

financial health of the public sector behemoth.

Govt mulls LPG, kerosene price hike in small dosesAfter diesel, the government is considering raising cooking gas (LPG) and kerosene rates in small doses

of Rs 5 per cylinder and Rs 0.50-1 a litre every month to wipe out Rs 80,000 crore subsidy on the twofuels.

Union Budget on July 10The Narendra Modi government will present its first Budget on July 10, three days after the

commencement of the Budget session of Parliament that is expected to last six weeks.

Swiss to give list of Indian accountsZurich officials say keen to cooperate with India

SIT chief promises tough action

New Delhi, June 22

The black money debate in India has taken a new turn with Switzerland

reportedly having prepared a list of Indians suspected to have stashed

unaccounted wealth in Swiss banks and the details are being shared with the

Indian government.


10/29



Sports

Important Sports EventsYear Date(s) Sport Event Location

2014 Jun 12-Jul

13

Soccer/Football FIFA World Cup Brazil

2014 Jun 23-

July 6

Tennis Wimbledon London, England

2014 Jul 5-July27

Cycling Tour de France France 2014

2014 Jul 17-20 Golf British Open Royal Liverpool Golf Club

2014 Jul 23-Aug

3

Multi-sports Commonwealth Games Glasgow, Scotland

2014 Aug 4-10 Golf US PGA Valhalla GC, Kentucky

2014 Aug 4-17 Rugby Womens World Cup France

2014 Aug 9-16 Multisports Gay Games Cleveland and Akron, USA

2014 Aug 16-28 Multisports Summer Youth Olympics Nanjing, China

2014 Aug 25-

Sep 8

Tennis US Open New York

2014 Sep 16-21 Canoe/Kayak Slalom World

Championships

Deep Creek Lake, MD

2014 Sep 19-Oct

4

Multi-sports Asian Games Incheon, South Korea

2014 Sep 26-28 Golf Ryder Cup Gleneagles Hotel (Auchterarder, Perth


11/29



& Kinross, Scotland)

2014 Sep 27 AFL Grand Final Melbourne, Australia

2014 Oct 3-13 Gymnastics world championships(artistic) Nanning, China

2014 Oct Baseball World Series

2014 Nov 4 Horse Racing Melbourne Cup Victoria, Australia

2014 Nov 29-

Dec 7

Field Hockey FIH Champions Trophy -

women

Argentina

2014 Dec 1321 Field Hockey FIH Champions Trophy -men

India

Schumacher out of comaFormula One champion Michael Schumacher was transferred from a French hospital to a facility in

Switzerland on Monday after emerging from a coma following his devastating ski accident in December

last year.

N Srinivasan is new ICC chiefMELBOURNE: N. Srinivasan was on Thursday formally appointed the first Chairman of the ICC after its

52-member council approved a controversial revamp of the bodys administrative structure.

FIFA bans Suarez for 4 months for biting opponentRIO DE JANEIRO (Brazil): FIFA banned Uruguay striker Luis Suarez from all football activities for four

months on Thursday for biting an opponent at the World Cup, a punishment that rules him out of the rest

of the tournament and the start of the upcoming English Premier League season.

FIFA World Cup 2014

The 2014 FIFA World Cup is the 20th FIFA World Cup, a tournament for the men's football world championship,

which is currently taking place in Brazil.

It began on 12 June, with a group stage, and is scheduled to conclude on 13 July with the final. It is the second

time that Brazil has hosted the competition, the first being in 1950. Brazil was elected unchallenged as host


12/29



nation in 2007 after the international football federation, FIFA, decreed that the tournament would be staged in

South America for the first time since 1978 in Argentina, and the fifth time overall.

KKR won IPL7

Manish Pandey helped Shah Rukh Khan-owned Kolkata Knight Riderswin the IPL crown for the

second time in three years. Shah Rukh Khan was the man in focus after Kolkata Knight Riders won

the IPL crown for the second time in three years at Bangalore's Chinnaswamy Stadium on Sunday.


13/29



TechnologyGoogle all set to launch Android One - $100 Smartphone in India

In a bid to target price-conscious consumers in emerging markets like India, Google on Wednesday unveiled Android One, aprogramme that will see the company partner with local phone makers to create and sell affordable yet fully-functional Androidphones.

Candy Crush' Maker King Files IPO With Listing in New York

King Digital Entertainment, the Dublin-based maker of popular smartphone games including Candy

Crush Saga and Pet Rescue Saga, is beginning an adventure of its own on a path to becoming a public

company via the New York Stock Exchange.

Rakuten Drops on $900 Million Deal to Buy Viber Message AppRakuten, the Japanese online retailer controlled by billionaire Hiroshi Mikitani, plummeted in Tokyo

trading after announcing it will buy the Viber Internet messaging and calling service for $900 million.

The deal came days before Facebook announced its $19 billion purchase of mobile-messaging startup

WhatsApp.

Budget smartphones mob in India

After the massive success of Moto G, Blackberry Launched BB Z3 and HTC launched HTC Desire 516


14/29



EventsTelangana to become a reality on June 2 2014K Chandrasekhar Rao, Telangana Rashtra Samithi founder president, to take oath as first CM of

29th state

Hyderabad, June 1

It is celebration time in Telangana. The region, comprising 10 districts, including Hyderabad, is bracing

for its tryst with destiny as the 29th state of India. Carved out of Andhra Pradesh, Telangana will come

into existence as a new state on June 2

Rural Development Minister GopinathMunde diesNEW DELHI:Rural Development Minister and the OBC face of BJP in Maharashtra Gopinath Munde

died apparently of shock and cardiac arrest suffered during a road accident early this morning.


15/29



Important lists

Authors and their Books A.P.J. Abdul Kalam :- Wings of Fire, Ignited Minds, Target 3 Million, The luminous Spark, India 2020,

Mission India, Indomitable Spirit, The Life Tree, India My Dream, Inspiring Thoughts, Thoughts for

Change, Spirit of India, Evolution of Enlightened Societies, India Wins Freedom, You are Born to

Blossom, Turning Point.

Amrita Pritam :- Forty Nine Days

Anil Padmanaban :- Kalpana ChawlaA Life

Anita Desai :- Fasting, Feasting

Annie Besant :- Wakeup India

Arundhati Roy :- The God of Small Things

Barack Obama :- Dreams From My Father

Bill Clinton :- My Life

C.S. Pandit :- End of the Era

Chetan Bhagat :- The 3 Mistakes of My Life, Five Point Someone, Two States, Revolution 2020, One

Night at the Call Center

Diplomat Pavan K.Varma :- When Loss is Gain

Dr. Bimal Jalan :- The Future of India

Dr. S. Radhakrishnan :- Indian Philosophy

Dr. S. RadhaKrishnan :- Indian Philosophy

Dr. Salim Ali :- The book of Indian Birds

E K Nayanar :- My Struggle

G.D. Khosla :- Last Days of Nethaji

Indira Gandhi :- My Truth

Jackie Chan :- My Life in Action

Jawaharlal Nehru :- Glimpses of World History, The Discovery of India


16/29



Jonathan Swift :- Gulliver Travels

K. R. Malkani :- India First

Kalidasa :- Megdoot, kumarasambhava, Swapnavasavadatta, Malavikagnimitra

Kautilya :- Arthashastra

Khuswant Singh :- We Indians, Train To Pakistan, Women and Men in My Life

Koutilya :- Arthashastra

L.K. Advani :- My Nation My Life

Lala Lajpat Rai :- Unhappy India

Leo Tolstoy :- War and Piece

Mahatma Gandhi :- My Experiments with Truth

Mrs. Indira Gandhi :- Eternal India

N.R. Narayan Murthy :- A Better India A Better World

Nandan Nilekani :- Imagining India

Narendra Modi :- Jyoti punj

P. V. Narasimha Rao :- Ayodhya

Panini :- Ashtadhyayi

R. C. Dutt :- Economic History of India

R.K. Narayanan :- My Days, The Guide, Malgudi days, Waiting for the Mahatma, The Dark Room, The

Bachelors of Art, The English Teacher, The Financial Expert

Rabindranath Tagore :- Lipika, Chandralika, Chitra, Geethanjali, Gora, Ghare, Broken Ties, Malini,

Sacrifice, Two Sisters , Bhaire, Chaturanga

RBI Governor Raghuram Rajan: Aid and Growth, Fault Lines, Indias Pattern of Development, The

Real Effect of Banking Crises Controlled Capital Account Liberalization

S.K. Banerjee :- Independence

Sarojini Naidu :- Broken Wing, Golden Threshold

Shakespeare :- Hamlet, Othello, Macbeth, King Lear

Sharat Chandra Chatterjee :- Devdas

Shiv Khera :- Living with Honour


17/29



Sir Arthur Conan Doyle :- The Adventures of Sherlock Holmes

Sunil Gavaskar :- One Day Wonders

Swami Vivekananda :- Inspired Talks, The Sleeping Giant, Living at the State, Way of the Saint, Jnana

Yoga, Raja Yoga, My Master, Women of India, Vedanta Philosophy

Tolstoy :- War and Piece

V.S Naipoul :- Half a Life

V.V. Giri :- My life and Times

Valmiki :- Ramayana

Veda Vyas :- Bhagwad Gita, Mahabharata

Vikram Seth :- Two Lives, The Golden Gate, A Suitable Boy, Arion and The Dolphin, An Equal Music,

From Heaven Lake:Travels

Vishnu Sharma :- Panchatantra

Yann Martel :- Life of Pi


18/29



List of RBI Governors

SL.NO Name of The Governor Joining and Leaving Dates

1 Sir Osborne A. Smith April 1st 1935June 30t , 1937

2 Sir James Braid Taylor July 1st 1937February 17th , 1943

3 Sir Chintaman D.

Deshmukh

August 11t 1943June 30t ,1949

4 Sir Benegal Rama Rau July 1st 1949January 14t 1957

5 K.G. Ambegaonkar January 14t 1957February 28t 1957

6 H.V.R. Ienger March 1st 1957February 28t 1962

7 P.C. Bhattacharyya March 1st 1962June 30t 1967

8 L.K. Jha July 1st 1967May 3rd 1970

9 B.N. Adarkar May 4t 1970June 15t 1970

10 S. Jagannathan June 16th 1970May 19th 1975

11 N.C. Sen Gupta May 19t 1975August 19t 1975

12 K.R. Puri August 20t 1975May 2n 1977

13 M. Narasimham May 2n 1977November 30t 1977

14 Dr. I.G. Patel December 1st 1977September

15th 1982

15 Dr. Manmohan Singh September 16t

1982January 14t

1985

16 A. Ghosh January 15th 1985February 4th 1985

17 R.N. Malhotra February 4t 1985December 22n 1990


19/29



18 S. Venkitaramanan December 22n 1990December

21st 1992

19 Dr. C. Rangarajan December 22n 1992November

22nd 1997

20 Dr. Bimal Jalan November 22n 1997September

5th 2003

21 Dr. Y.V.Reddy September 6t 2003September

5th 2008

22 Dr. D. Subbarao September 5th 2008September 4th 2013

23 Dr. Raghuram Rajan September 4t 2013


20/29



Important Appointments of 2014Dinesh Sarraf -ONGC chief

Arseny Yatseniuk -Ukraines new prime minister

Rashid Latif - Pakistan cricket chief selector

Bappi Lahiri - goodwil ambassador in Nepal

Metro Man E Sreedharan -Uttar Pradesh governments chief adviser for Lucknow metro rail project.

Cheteshwar Pujara -brand ambassador of the Gujarat state Election Commission.

Salil Nair - Shoppers Stop CEO

Ashok Varadhan -co-head of Goldman Sachs securities

Justice Mukul Mudgal appointed as Chief of BCCC

Siddharth Das - Flipkart Chief Operating Officer of its online payment solution PayZippy

Rakesh Maria -Mumbais new police commissioner

Vallabhaneni Venkateshwara Rao - the member of Censor Board.

Know Current Affairs 2014 here

Kalyan Singh -BJP vice-president

Sheila DikshitGovernor of Kerala Published

Ibrahim MahlabPrime Minister of Egypt

Matteo Renzi - PM of Italy

Edward Snowden- Rector of University of Glasgow

Abdul Basit -high commissioner of Pakistan

Vinod Sawhny -CEO of Reliance Communications

Jatinder Bir Singh -CMD of Punjab and Sind Bank

R.K.Tiwarinew Chairman of CBDT

N Ramachandran- President of IOA

Marco Lambertini -Director-General of WWF International


21/29



Sanjeev Kulkarni -dean of Princeton University Graduate School (DGH)

Satya NadellaCEO of Microsoft

M Teresa KhoCountry Director of ADB

Justice Ashok Kumar Mathurhead 7th Central Pay Commission

Poonam Khetrapal SinghRegional Director of SEARO

Vivek Lall -Special Advisor Published

Manoj VaishMD & CEO of MCX

Harish Rawat -8th Chief Minister of Uttrakhand

Michel RogersDirector of NSA

Arun GuptaCMD of Shipping Corporation of India

Ajoy Misrathe CEO and MD of Tata Global Beverages Limited

Manoj KohliMD&CEO of non telecom businesses of Bharti Enterprises

Gopal vittalMD&CEO of Bharti Airtel

Egypts Army Chief Fattah al-Sisi -Field Marshal

Professor Rakesh KhuranaDean of Harvard College

Kailash MeghwalSpeaker of Rajasthan Assembly

Aruna Bahuguna -first woman to be appointed chief of National Police Academy

Catherline Samba-Panza- CARs Interim President (first woman to be elected as the interim president)

Jamila Bayaz -first women to be appointed police chief of Kabul province

Sirajuddin QureshiPresident of IICC Published

Morten Sorbynew Uninor CEO

Munish ShardaMD and CEO of Future Generali Life

Janet YellenChairperson of Federal Reserve

ChandrashekharPresident of NASSCOM

Srinivas and Pravin RaoInfosys Presidents

Raj JainCEO of Bharti Retail


22/29



Pradhyuman Singhpro-tem speaker of 14th Rajasthan Assembly

S.K.SharmaChairman and Managing Director of BEL

Ashraf Jehan-first female judge in Paks National Sharia Court

Devendra Kumar PathakSpecial DG, BSF

Pradeep KumarMD Corporate Banking of State Bank of India

J.N.ChaudharyHead of NSG

CISFchief Arvind Ranjan

Ashok Lavasa,the New Civil Aviation Secretary

M. Veerappa Moilynew Environment and Forests Minister

Siddarth BirlaPresident of FICCI

Vinod Kumar Duggalthe Governor of Manipur

Subrahmanyam Jaishankarambassador of US

Abdiweli Sheikh AhmedPrime Minister by Somalian Parliament

Usha Sangwanfirst woman Managing Director of Life Insurance Corporation.

P.H. ParekhPresident of Supreme Court Bar Association

S B Nayar -Chairman and Managing Director of India Infrastructure Finance Corp Limited

Puneet Kumarsecretary general of AEPC

Harsh Kumar Bhanwala -Chairman of NABARD

CVR RajendranCMD of Andhra Bank

Krishna IyerCEO of Wal-Mart India

Lt Gen Dalbir Singh SuhagVice Chief of Army Staff


23/29



Persons in News Lt Gen PR Kumar is appointed as Director General Military Operations (DGMO).

Raunaq- music album written by Mr.Kapil Sibal launched

Turkish president Abdullah Gul approved the bill on restricting the judicial powers

The Vice President of India Mr. M. Hamid Ansari released a book Ambedkar: Awakening

Indias Social Conscience authored by Dr.NarendraJadhav.

Sourav Kothari won the National Billiard Championship title

Indian Navy ChiefMr. DK Joshi resigned after accident on Indian sub Sindhuratna

Mr. Dinesh Sarrafappointed next ONGC chief

Mr. Ibrahim Mahlab: New Prime Minister of Egypt

Eminent painter Mr.Prokash Karmakar passed away

Braigo- a low-cost Braille printer invented by Indian-origin boy Shubham Banerjee

Freedom fighter MaulanaHasratMohanis postage stamp released by Vice President of India

Indian-origin men win Heinz Awards in US

Indian-origin men, Professor Abraham Verghese and Mr.SanjeevArora are among the five

recipients who won the 19th Heinz awards 2013 and will be honoured in Pittsburgh on April 3,

2014. Each winner will receive a cash award of $250,000 each as well as a medallion inscribed

with an image of late US senator John Heinz.

Dr.MadanBabu won the Protein Science Young Investigator Award for 2014

Water, Peace and War Confronting the Global Water Crisis Mr. Brahma Chellaneysbook

launched

Indian- American Scientist Sangeeta Bhatia developed cheap paper diagnostic for cancer

Deputy Chairman of Planning Commission - Motek Singh Ahluwalia

Chairman of the Economic Advisory Council of Prime MinisterC.Rangarajan

Japanese Prime MinisterShingo Abe.

Ethiopian Prime Minister - Hailemariam Desalagn.

South Sudanese President - SalvaKiir.


24/29



Keniyan President - Uhuru Kenyatta.

Union ministerfor Road Transport and HighwaysOscar Fernandez.

Union Minister of state for HomeMullappally Ramachandran.

Air Chief Marshal of IndiaArup Raha

Union Minister of state for Communication, Information & Technology and Shipping

Milind Deora.

Italian President - Giogio Napolitano.

Egypts Foreign Minister Nabil Fahmy.

Cubas President Raul Castro.

Chairman of the Securities and Exchange Board of India (SEBI)UK Sinha

Finance Minister of India -P.Chidambaram.

Petrolium Minister of India - M.Veerappa Moily.

Civil Aviation Minister of IndiaAjith Singh.

Food Minister of IndiaK.V.Thomas.

Union Minister of State for FinanceNamo Narain Meena

UnionRural Development Minister-Jairam Remesh.

Chief Minister of Mizoram- Lal Thanhawla.

Chief Minister of Chhattisgarh- Raman Singh.

Lieutenant Governor of Delhi- Najeeb Jung.

AfghanistanPresident -hamidkarzai

United Nations Secretary General-Ban Ki-moon

BiharChief Minister -Nitish kumar

Chief MInister ofMadya Pradesh-Shivaraj Singh Chouhan

ThripuraChief Minister -Manik Sarkar.

Head of Financial Sector Legilative Reforms Commission (FSLRC) -Justice B.N.Srikrishna.

External Affairs Minister of India -Salman Khurshid.

Dy.Chairman ofRajyaSabha-P.J.Kurien.


25/29


26/29



Important Financial TermsInterest Rate Swaps: An interest rate swap is the transfer of contractually agreed between two

counterparties of their respective interest rate obligation. Interest rate swaps are commonly used as ameans of converting fixed rate to floating rate debt and vice versa.

Operating Ratio: A ratio that shows the efficiency of a companys management by comparing operating

expense to net sales. Calculated as

Operation ratio = Operating expense/net sales

Wholesale Price Index (WPI): WPI is taken into consideration while calculating the inflation. A change

has recently been made in the WPI. Its present base year will be taken as 2004-05 earlier it was 1993-34.

Base year mean (2004-05 = 100). Total articles taken into consideration will be 676 earlier these were

435.676 include 102 Primary Articles, 19 fuel & power, and 555 of Manufacturing Products. Earlier WPIwas calculated on Weekly basis but now it is calculated on Monthly Basis. First time inflation was

calculated in August 2010 (on new system).

Consumer Price Index (CPI) : Most advanced nations base their policies on retail price inflation but

India uses wholesale price inflation, CPI is largely a segmental and is superior to the WPI, CPI capture

consumption price both at urban and rural centers, as in WPI 676 items are covered and base year is taken

as2004-05 and for macroeconomic policies. Whereas in CPI 320 items are taken from (CPI-IW) CPI

industrial workers and 260 items are taken from both CPR rural laborers and CPI agricultural laborers and

the base year for calculation is taken as 2010.

Coupon Rate: Specified interest rate on a fixed maturity security fixed at the time of issue. The couponrate of a bond is the amount of interest paid per year as a percentage of the face value or principal.

NRO (Non Resident Ordinary a/c) : In this account , a person cannot repatriate income without RBI

approval but can remit Interest thereof.

NRNR (Non Resident Non Repatriable A/c ) : Under this account Principal amount in not permissible

to repartriate but interest can be.

NRE (Non Resident External) : In this account Funds and interest both can be remitted without RBI

permission. On NRE deposits the maximum ceiling is Libor rate + 175 basis points (Now there is no such

Ceiling).

NPA (Non Performing Assets) : Interest or Installment of Principal remains overdue for a period of

more than 90 days in respect of a Term Loan/ overdraft/ Cash credit.

Teaser Rate of Interest : This rate is typical low then the prevalent rate in the market. This is just to

allure the customer. This rate is charged only for a little time. And after that it gradually touch the index

rate or even more than that. This is a technique to attract customers.


27/29



Appropriation Bill : It is presented to parliament for its approval, so that the government can withdraw

from the Consolidated fund the amounts required for meeting the expenditure charged on the

Consolidated Fund. No amount can be withdrawn from the Consolidated Fund till the Appropriation Bill

is voted is enacted.

Call Money: Itner Bank call market is a part of the domestic money market from where banks borrowedand lent for one day called as Money at call and for a period more than 1day & upto 14days is called

Short notice or Notice money without any collateral security. Money lend for 15days or more is called

Term money.Normally funds are borrowed for 1 day and upto 3 days on weekends just to balance the

Cash Reserve Ratio.

Nostro Account: When national bank is opened in foreign with currency is known as Nostro a/c. e.g.

State bank india branch in USA.

CIBIL {Credit Information Bureau (India) Limited} : An effective mechanism for exchange of

information between banks and Financial Institutions for curbing the growth of NPAs.

Currency War: This is the other form of Protectionism. In this the tendency of every nation is that the

value of their currency should not appreciate. The big example of this is CHINA that is holding their

currency since 2008. It could be a cause of future Trade war.

Capital Budget: It consists of capital receipts and payments. It also incorporates transactions in the

Public Account. It has two components Capital Receipts and Capital Expenditure.

Repo Rate: Repo rate means a purchase and sale of agreement. It is a contract to buy securities and then

sell them back at an agreed future date and price. It is thus revenue for short term investment of surplus

funds. From RBI point of view it is called a short term lending and from banks point of view it is called

short term borrowing.

Reverse Repo rate : Reverse Repo Rate is an instrument of borrowing funds for a short period and

involves selling a security and simultaneously agreeing to repurchase it at a stated future date for slightly

higher price. From RBI point of view it is called a short term borrowing and from banks point of view it

is called a short term lending.

Group Company : As per RBI for the purpose of FDI, two or more enterprise which , directly or

indirectly , are in position to exercise 26% or more of voting rights in other enterprise or appoint more

than 50% of the members of the board of directors in the other enterprises.

Branch Vs Subsidiary: A subsidiary is a separate legal entity from the parent company, although owned

by parent company, has a same legal identity as its parent company , from liability , on the other handbranch is not a separate legal entity of the parent company and liability wise there is no limit to the

parents companys liability , RBI has permitted to Foreign Banks to change from Branch Mode to the

Wholly Owned Subsidiaries.

NFS (National Financial Switch): It facilitates interconnectivity between banks switches and interbank

payment Gateway for authentication & routing the payment details of various E-commerce & E-Govt.


28/29


29/29


july current affairs.text.marked

Documents