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Year: 2012 Vol. 1 Issue 9
CONTENTS
TOPICS
National News News from States Govt Initiatives Economic Indicators Economy Banking Defence Science & Technology International News Persons in News Appointments Awards & Honours Books & Authors Obituary Places in News Sports World Abbreviations 1000 Latest GK Bytes
NATIONAL NEWS
PAGE NO.
1 7 9 16 19 26 35 37 39 43 45 46 48 49 50 51 54 57
OCTOBER 2012
INDIA 5
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The Grant Thornton Global Dynamism Index indicates that India is the fifth best country in the world for dynamic growing businesses. According to the index, India is ahead of Singapore, and Russia and only four countries Argentina, China, Uruguay and Chile are ahead of India.
IN GROWING BUSINESS
FIGURES TO REMEMBER
REPO RATE (17-04-2012) REVERSE REPO RATE MARGINAL STANDING FACILITY RATE STATUTORY LIQUIDITY RATIO CASH RESERVE RATIO BANK RATE BASE RATE (of various banks) 8.00% 7.00% 9.00% 23% 4.25% 9.00% 10-10.75%
BIODIVERSITY MEET HELD AT HYDERABAD 11th Conference of the parties (COP-11) to the Convention on Biological Diversity (CBD) held in Hyderabad to discuss various issues related to
INDIAS RANK IN
Economic Freedom 2012 Global Competitiveness Index Corruption Perception Index Global Hunger Index 2010 Food Security Human Development Index Global Business Confidence Index ICT Performance Index Indias Rank in IMF 111th 59th 87th 67th 66th 134th 2nd 69th 8th
h
conserving the bio resources of the world and to achieve consensus among 170 member countries on the issues related to climate change and mobilization of financial resources. Prime Minister Dr Manmohan Singh announced USD 50 million grant to strengthen the institutional mechanism for biodiversity conservation in the country.
WHAT IS BIODIVERSITY Biodiversity, or biological diversity, is the variety of all species on earth. It is the different plants, animals and micro-organisms, their genes, and the terrestrial, marine and freshwater ecosystems of which they are a part. Biodiversity is both essential for our existence and intrinsically valuable in its own right. Biodiversity is the life support system of our planet- we depend on it for the air we breathe, the food we eat, and the water we drink. Wetlands filter pollutants from water, trees and plants reduce global warming by absorbing carbon, and bacteria and fungi break down organic material and fertilize the soil. We need to conserve biodiversity as our lives depend on it!
PORTFOLIO UPGRADED
Salman Khurshid Pawan Kumar Bansal Kamal Nath M Veerappa Moily Kumari Selja External Affairs Railways Parliamentary Affairs; Urban Development Petroleum & Natural Gas Social Justice
MINISTERS PROMOTED
M.M. Pallam Raju Ajay Maken Ashwani Kumar Dinesh J. Patel Harish Rawat Jyotiraditya Scindia Sachin Pilot Jitendra Singh K.H. Muniappa Bharatsinh Solanki Human Resource Development Housing & Urban Poverty Alleviation Law & Justice Mines Water Resources Power* Corporate Affairs* Youth Affairs and Sports * Micro, Small & Medium Enterprises Drinking water & Sanitation*
NEW MINISTERS
K. Rahman Khan Chandresh Katoch Manish Tewari K. Chiranjeevi Minority Affairs Culture Information & Broadcasting* Tourism*
The first-ever museum of Indian cinema will come up in Mumbai in 2013, to mark the occasion of Indian cinema completing its 100 years, having started its journey with the screening of Raja Harishchandra in 1913. The National Museum of Indian Cinema will be set up in the premises of the Films Division.
The expert committee on GAAR (the General Anti-Avoidance Rules), headed by Parthasarathi Shome to address the concerns of foreign and domestic investors, has recommended postponement of the controversial tax provision by three years and abolition of capital gains tax on transfer of securities.
3,000 Indian soldiers laid down their lives during the war. Julia Gillard, Australian Prime Minister visits India. Juan Carlos I: King of Spain visits India. Anatoly Serdyukov: Russian Defense Minister visits India. Kolkata International Film Festival to be held at Kolkata from November 10. India and New Zealand signed five Memoranda of Understanding (MoU) in different fields of education. South Asian Film Festival held in Goa from 25th-28th October, for films from SAARC nations. Viswa Malayalee Mahotsavam held at Thiruvananthapuram, Kerala.
SEPTEMBER 2012
INDIA RANKS 111
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IN ECONOMIC FREEDOM
India ranks very low at 111th position in terms of economic freedom, behind countries like China, Nepal and Bangladesh, a global study has claimed in a worldwide index of 144 nations. The annual ranking, titled 'Economic Freedom of the World: 2012', is topped by Hong Kong, followed by Singapore, New Zealand, Switzerland and Australia in the top-five. The index by Canada-based Fraser Institute, measure the degree to which the policies and institutions of countries support economic freedom.
India and Pakistan have concluded their arguments before International Court of Justice in the dispute over the 330-MW hydro-electric project on Kishenganga, a tributary of the Jhelum, near Bandipur in Jammu & Kashmir.
India's ranking declined by three places to 59th position in the Global Competitiveness Index 2012-2013, compiled by the World Economic Forum (WEF). India trails behind Brazil and South Africa by some 10 places and lags behind China by a margin of 30 positions. The global list was topped by Switzerland for the fourth consecutive year, followed by Singapore and Finland. The report noted that India's infrastructure is largely insufficient and ill-adapted to the needs of the economy. Moreover, the country also faces problem areas such as corruption and bureaucracy.
The World Bank today approved a $106 million (about Rs 583 crore) credit to the government of India to improve the nutritional outcomes for children less than six years of age. India has one of the highest malnutrition rates in the world. One-third of the children are born with low birthweight, 43 per cent of children under five are underweight, 48 per cent are stunted, 20 per cent are wasted, 70 per cent are anemic, and 57 per cent are vitamin A deficient.
India and Israel have signed pacts to boost the textiles business against the backdrop of a Free Trade Agreement (FTA) being finalised between two nations as they celebrate 20 years of diplomatic relations.
India has announced a contribution of ten billion US dollars to International Monitory Fund. Ninth World Hindi Conference [WHC] held in Johannesburg, South Africa from 22-24 September, 2012. Second International Buddhist Conclave held at Varanasi on September 29.
WHO IS KASAB? Kasab, along with nine other Pakistani terrorists had landed in south Mumbai on November 26, 2008 night after travelling from Karachi by sea and had gone on a shooting spree at various city landmarks, in which 166 people were killed. While Kasab was captured alive, the other terrorists in his group were killed by security forces during the counter-terror operations.
AUGUST 2012
COALGATE SCAM DISRUPTS PARLIAMENT
Reacting to the Comptroller and Auditor Generals report on coal block allocations (coalgate scam), BJP disrupted Parliament demanding the resignation of Prime Minister Manmohan Singh, who held the Coal portfolio when alleged irregularities took place. The CAG report has estimated a loss of Rs 1.86-lakh crore due to coal block allocations without auction from 2005 to 2009.
Monsoon rains will not be enough to save the country from its first drought in three years, says Indian Meteorological Department as it forecasted that the El Nino weather pattern should reduce rains again in the second half of the June to September season. Monsoon rains are considered deficient a drought in layman's terms - if they fall below 90 per cent of a 50-year average.
According to a statement by Drinking Water and Sanitation Minister Jairam Ramesh in Parliament, people of 67 per cent households in rural India defecate in the open and several states "fudge" data on building of toilets. If states were to be believed, 60 per cent households in rural India have already been provided toilets but according to 2011 Census over 33 per cent have the facility.
In response to an appeal made by the United Nations to the international community to extend humanitarian assistance to Yemen, India has extended food assistance in the form of around 2,500 metric tonnes of rice valued at around $ 2 million.
WHAT IS EL NINO El Nino is a regularly occurring climatic feature. Every two to five years, El Nino reappears and lasts for several months or even a few years. El Nino takes place when warmer than usual sea water exists off the coast of South America. El Nino causes climate effects around the world. El Nino increases average ocean surface water temperature in the region. This mass of warm water is what causes climatic change around the world. WHAT IS LA NIA During a period of La Nia, the sea surface temperature across the equatorial Eastern Central Pacific Ocean will be lower than normal by 35 C. The name La Nia originates from Spanish, meaning "the girl," analogous to El Nio meaning "the boy."
GK CLASSES
India and Monaco have signed a Tax Information Exchange Agreement (TIEA) Railways have started a double-decker air-conditioned train from Sarai Rohilla, New Delhi to Jaipur.
JULY 2012
Mr. MUKHERJEE ELECTED 13
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PRESIDENT
Mr Pranab Mukherjee, one of the most experienced administrators, was declared elected as Indias thirteenth President. He defeated the former Speaker and opposition candidate, Mr P. A. Sangma.
India has signed a new tax treaty with Norway that allows exchange of banking-related information for taxation purposes. India signs Double Taxation Avoidance Agreement (DTAA) with Indonesia. International Cooperative Conference held at New Delhi on July 4, 2012. The Western Ghats of India have been included in the coveted list of World Heritage Sites by UNESCO.
JUNE 2012
INDIA IN TOP 10 WEALTHY COUNTRIES
According to Datamonitor's 2012 Global Wealth Market Report, India is expected to experience explosive growth, and is anticipated to jump to sixth place by the end of 2012 in the world order of wealth markets. The top 10 wealth markets, in terms of dollar millionaire holdings at the end of 2011, in descending order, are the US, Japan, China, the UK, Germany, Italy, Canada, France, Brazil, and India.
According to the latest data published by the Swiss National Bank, Switzerland, the quantum of money held by Indians in Swiss banks stood at 2.18 billion Swiss francs (about Rs. 12,740 crore) at the end of 2011, having risen for the first time in the past five years. INNOVATION ZONE FOR TELECOM INNOVATION Startup Village, said to be the first telecom incubator in the country, has tied up with Research in Motion (RIM),
manufacturers of Blackberry. RIM has set up an innovation zone' called Rubus Labs, at the Kinfra Hi-tech park, Kalamasserry, near here, to showcase telecom innovations, with a view to motivating technology entrepreneurs.
DRDO has selected Delhi and Mumbai as the first two metros to be covered under Ballistic Missile Defence system to provide a cover from the incoming enemy missiles. To ensure maximum protection against air-borne threats, DRDO will put a mix of counter-attack missiles which will be able to shoot down enemy missiles with the range of up to 2,000 km.
the state after 1952.The report of the interlocutors Dileep Padgaonkar (Head), Radha Kumar and M M Ansari ruled out a return to the pre-1953 position. It also said the state assembly will submit three names to the President for the post of Governor who will be appointed by the President. It also suggested that there should be no change in Article 356 and if the state government is dismissed, elections should be held within three months.
India and Malaysia today signed a double taxation avoidance agreement (DTAA) with a view to boosting bilateral trade and facilitating exchange of tax information.
The first Bi-lateral maritime exercise between India and Japan 'JIMEX 12' (Japan India Maritime Exercise) commenced on 09 June, off Tokyo. The 11th Pravasi Bharatiya Divas (PBD) will be held from 7 to 9 January, 2013 in Cochin. It is celebrated on January 9th every year to commemorate the day of return of Mahatma Gandhi to India from South Africa in 1915. The annual World Economic Summit on India will be held in Gurgaon, Haryana in Nov. 2012. Prime Minister Dr Manmohan Singh visited Mexico and Brazil to participate in the G-20 Summit at Los Cabos and to attend the Rio + 20 conference on Sustainable Development at Rio de Janeiro, respectively.
MAY 2012
PM VISITS MYANMAR AFTER 25 YEARS
Indian P M met Myanmar President Thein Sein at Naypiedaw, Capital of Myanmar, after a gap of 25 years. India extended a USD 500 million line of credit as part of 12 agreements on sectors like trade and energy signed with Myanmar, which vowed that its territory will not be allowed to be used by terrorists to target India.
India and Myanmar have announced to launch a transborder bus service from Imphal to Mandalay. India would repair and upgrade the Tamu- Kalewa Friendship Road between Manipur and Myanmar.
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INDIA RANKS 46
As per a World Bank survey, India now ranks 46th in global trade logistics performance, whose top five slot are occupied by Singapore, Hong Kong, Finland, Germany and Netherlands in the list of 155 countries.
IN GLOBAL TRADE
The government is planning to rope in global companies for the revival of Black Tiger shrimp farming in the country. This variety, also known as giant tiger prawns, is the most popular item in the Asian, European, and American markets.
India Post celebrates 25 years of its premium service Speed Post. India has become the largest importer of arms during 2007-11 accounting for 10 per cent of global arms import as compared to Chinese share of 5 per cent. The Supreme Court has struck down the government's policy of giving subsidies to Haj pilgrims and directed that it be progressively eliminated within a period of 10 years.
APRIL 2012
PARLIAMENT TURNS 60 ON MAY 13
Indian Parliaments first sitting was held on May 13, 1952 and was marked by the address of the first Indian President Rajendra Prasad to the Houses. The same day, the first PM Jawaharlal Nehru took oath.
The West Bengal Govt has decided to provide 8 kg of free foodgrains every month to members of the Toto community, one of the countrys oldest tribes, which is facing extinction. Maharashtra government is planning to set up Spanish language departments in its universities. The humble house sparrow has been notified as the State bird of Delhi Jackei Shroff appointed brand ambassador of Beti Bachao Abhiyan launched by Bihar government against female foeticide.
SEPTEMBER 2012
President to nominate to the Rajya Sabha 12 members having special knowledge of, or practical experience in literature, science, art and social service.
Govt proposes to declare Tea as national drink by April 17 next year to coincide with the 212th birth anniversary of the first Assamese tea planter and Sepoy Mutiny leader Maniram Dewan.
Two day World IT Forum Meet held in New Delhi The President visits Seychelles from April 30 to May 1 and South Africa from May 1 to May 7. A commemorative stamp released on former President of India R. Venkataraman as a part of his centenary celebrations. The UN Secretary General Ban Ki Moon visits India and received an honorary doctorate degree from Jamia Millia Islamia University, New Delhi.
Arunachal Pradesh has launched Rashtriya Aarogya Nidhi scheme to provide financial assistance upto 1.5 lakh rupees to BPL patients suffering from life threatening diseases in the form of one time grant. Tamilnadu Assembly celebrates its Diamond Jubilee on October 29 when it completes 60 years of its establishment.
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AUGUST 2012
KEROSENE FREE DELHI
Delhi Government has launched a scheme to end the use of kerosene as household fuel, as often it does not reach the intended beneficiaries. Over 3.5 lakh BPL and poor families will get free LPG cylinders and gas stoves under this scheme.
Arunachal Pradesh has got its first full-fledged Buddhist centre - The Central Institute of Himalayan Culture Studies at Dahung in West Kameng district. The other three centers are in Bihar, Uttar Pradesh and Jammu and Kashmir.
Punjab has bagged the top position in country in the field of dairy farming with the production of 95.4 lakh MT milk annually West Bengal Assembly is celebrating its Platinum Jubilee. Germany agrees to give Rs 365 crore loan to develop urban infrastructure in Odisha.
Planning Commission has approved Rs 1,200-crore for the Gujarat Governments plan to boost coastal tourism project which includes developing 10 beaches on the 1,600 km coastline area of Gujarat, longest amongst Indian states.
JULY 2012
RIGHT TO SERVICE IN KERALA
The govt in Kerala has passed the Kerala State Right to Service Bill, 2012, entitling the citizens to assert their right to all the services that each government department is supposed to provide them.
The Rajasthan government has decided to ban the production, storage, distribution and sale of gutkha in State. About 18 lakh laptops and 26 lakh computer tablets will be distributed to students who passed out of classes 10 and 12 in Uttar Pradesh, during the current academic session. Govt has cleared the Rs.5,128-crore Kochi Metro Rail project for Kerala state.
Kerala govt plans to promote the e-governance platform to become the first fully digital State by March, 2013. Every citizen would be given an e-mail ID based on the UID Aadhaar. All government transactions and applications would be handled through e-mail.
Very soon, Kerala will be declared Nirmal state, i.e. - open defecation free state. Among the small states, Sikkim has
Maharashtra is one of the highest users of tobacco in the country with 43 per cent adult males and 19 per cent adult females addicted to it. Karnataka Legislative Assembly celebrates 60th anniversary of its establishment. The Tripura Govt has decided to allow its male employees a 7 days paternity leave.
JUNE 2012
RIVER LAKE LINKING PROJECT IN MP
Madhya Pradesh has launched the country's first ever riverlake linking project in the water-scarce Bundelkhand region. The Harpura irrigation and river-lake link project will link the perennial Jamni River to the nearby lakes and water bodies built during the Chandel era, providing irrigation to an additional 1,980 hectares of land.
Village Kurbanpur of district Ambala, Haryana, has become the first village of the country to make available the fully computerized land records of all its farmers through satellite.
GYANMS GENERAL AWARENESS DECEMBER 2012
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VIJAY PAUL (SSC TIER II) 8
MAY 2012
KARNATAKA TOPS IN FISH PRODUCTION
Karnataka has emerged as the leading coastal state with highest growth of fish production. With about five lakh tonnes of annual fish production, Karnataka accounts for almost six per cent of overall fish production in India which is currently estimated at about 91 lakh tonnes
Assam and West Bengal have announced to start a State TV news channel for presenting the official side of developments. Around 5,200 French nationals from Puducherry, Karaikal, Mahe and Yanam exercised their franchise in the first round of the French Presidential elections. Patna to get Asias first Dolphin Research Centre.
GOVT INITIATIVES
OCTOBER 2012
PM LAUNCHES AADHAAR BASED SERVICES
The much awaited Aadhaar enabled system for direct cash transfer to beneficiaries under social schemes such as MNREGA and pension was launched on Oct. 20, on second anniversary of Aadhaar project by Prime Minister at Dudu, district Jaipur, Rajasthan. The payment mechanism is aimed at checking corruption and pilferage in the social sector schemes that seek to promote financial inclusion. In the last two years, the UIDAI has generated over 20 crore Aadhaar numbers.
Maharashtra Government has announced waiving off loans to the tune of Rs 50,000 borrowed by the weavers and handloom workers till March 31, 2010.
The Uttar Pradesh Government has decided to give Rs 1,000 per month as unemployment allowance to the youth between 30 and 40 years of age. The Uttarkhand Government has decided to give allowance to the unemployed educated youth. Karnataka has signed a memorandum of understanding (MoU) with Mizuho Corporate Bank of Japan for mutual co-operation and investment promotion. Zila Parishad of distict Kurukshetra, Haryana has won the National Panchayati Raj Award for successfully implementing all Central Government schemes. High Altitude Cloud Physics Laboratory opened at Mahabaleshwar (Maharashtra)
The Group of Ministers has cleared the controversial land bill, The Right to Fair Compensation, Resettlement, Rehabilitation and Transparency in Land Acquisition' Bill, suggesting that the consent of 66% of the affected people would be required for acquisition of land for private and PPP projects, instead of 80% proposed earlier.
APRIL 2012
World Bank has agreed to provide a $200 million loan to the State in order to enable it become the country's first carbon neutral State' by 2020.
Countrys first Radio frequency identification, RFID, Technology Based Electronic Toll Plaza started at Chandimandir, Panchkula, Haryana, on Zirakpur Parwanoo Highway. Assam launched the biggest river cruise of the country, MV Mahabahu in Guwahati Assam celebrates Platinum Jubilee (75 years) of its Legislative Assembly
All public data will now be freely available at the click of a mouse with the launch of a national data portal next month. Government portal data.gov.in, that will be used to share
official data with the public, is set to be fully functional soon. The framework will be provided by National Data Sharing and Accessibility Policy (NDSAP).
30 per cent of the products must be procured from small scale industries which have a total investment in plant and machinery not exceeding $1 million. Fresh agricultural produce, including fruits, vegetables, flowers, grains, pulses, fresh poultry, fishery and meat products, may be unbranded. Retail chains will be allowed only in cities with a population of more than 10 lakh as per 2011 Census. State governments/Union Territories (UTs) would be free to take their own decisions in regard to implementation of the policy.
To fight out the allegation of the policy paralysis, the government unleashed big-ticket reforms in the FDI sector to attract foreign investment to heal ailing economy. Main proposals approved by Cabinet Committee on Economic Affairs included:
allowing 51 per cent FDI in multi-brand retail, 100 per cent FDI in single brand retail 49 per cent FDI in civil aviation to help domestic carriers to allow 49 per cent FDI in two power exchanges Increase the limit from 49 per cent to 74 per cent in the broadcasting sector. 100 per cent FDI in single brand retail would be notified soon. The Cabinet also announced disinvestment of its equity in four public sector companies to raise Rs. 15,000 crore.
A high-power National Committee on Direct Cash Transfers has been constituted under Chairmanship of the Prime Minister to reduce corruption at the grass root level.
SEPTEMBER 2012
MANY 'RIDERS IN MULTI-BRAND RETAIL
The 51% FDI in multi-brand retail notification has set a number of conditions aimed at securing the interest of common man. Major stipulations include: A minimum investment of $100 million, 50 per cent of which should be invested in back-end infrastructure.
GYANMS GENERAL AWARENESS DECEMBER 2012
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Child Development, the scheme known as Saksham aims to target young boys in the age group 10-18 years for their holistic development by giving lessons in gender sensitivity and inculcating in them respect for women.
India has made it mandatory for all foreign investors to furnish a tax residency certificate of their home country to claim benefits under the double taxation avoidance agreement. This will make the process of claiming tax credit easier for foreigners by removing the arbitrariness in the earlier regime.
I T POLICY ANNOUNCED
The government has approved the National Policy on Information Technology, which aims to make at least one individual in every household e-literate among other objectives. The industrys goal is to reach USD 100 billion turnover and USD 200 billion of exports by 2020.
The Centre has asked states to introduce millets in mid-day meal schemes in schools to boost demand for the nutritious grain. The mid-day meal, which is the largest government
The government has made electronic payment of customs duty mandatory in order to further reduce transaction cost of the importers. The govt is negotiating with the World Bank to set up a Corporate Social Responsibility (CSR) Institute in the country.
school feeding programme, has a food grain requirement of 28.50 lakh tonnes in 2012-13, which includes 23.8 lakh tonnes of rice and 4.7 lakh tonnes of wheat.
AUGUST 2012
Govt plans to launch the Rajiv Housing Loan Scheme to provide financial assistance to urban poor for house construction. Under this scheme, people belonging to the economically weaker sections would be given relief on interest for housing loans of less than Rs 5 lakh.
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GYANMS GENERAL AWARENESS DECEMBER 2012
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population under the ambitious programme to provide them legal right to highly subsidised foodgrains. Under the changes being proposed, each beneficiary would be entitled to get five kg foodgrains per month (rice at Rs 3; wheat at Rs 2 and millets at Rs 1 per kg) from ration shops.
India and China have agreed to set up a joint working group to resolve the bilateral trade concerns and strengthen economic cooperation. India raised its concerns over widening trade deficit with China while China expressed its worries on visa rules and duty hike on power equipment imports by India.
attract imprisonment up to two years and a fine of Rs. 2 lakh for the first violation. Subsequent instances will attract imprisonment up to five years and a fine of Rs. 5 lakh.
Damage to crops due to cold wave and frost would now be eligible for central and state assistance following the government's decision to consider such weather condition as natural calamity. At present, cyclone, drought, earthquake, fire, flood, tsunami, hailstorm, landslide, avalanche, cloud burst and pest attack are treated as natural calamities and are eligible for relief under the State Disaster Response Fund (SDRF) and National Disaster Response Fund (NDRF).
The Union Cabinet has approved amendments in the Unlawful Activities (Prevention) Act by including unlawful financial activities like money laundering, terror financing and circulation of fake Indian currency in the definition of terrorist act. The Bill also enhances the period - from two to five years - for which an association involved in terrorist acts, including terror financing, will be declared unlawful. The bill now will be placed before Parliament for approval.
The Union Cabinet has approved the conversion of OCDs (optionally convertible debentures) worth Rs. 923 crore held by the government in The Industrial Finance Corporation of India (IFCI) into equity, increasing govt stake in IFCI to 55.57 per cent.
WHAT IS A DEVELOPMENT CENTER Many MNCs carry out activities such as product development, analytical work, software development, etc. through captive entities in India. These are popularly called Development Centres. Over 750 MNCs have such centres at over 1100 locations in India. These Centres provide high quality jobs to our scientists, and indeed make India a global hub for such Knowledge Centres.
NEW BOARD FOR OIL&GAS PROJECTS The government has decided to set up a Project Clearance Board for speedy one time clearances to oil and gas projects. This will include security aspects. It is to be set up on the lines of Foreign Investment Promotion Board-FIPB. NO SERVICE TAX ON REMITTANCES The Central Board of Excise and Customs (CBEC), has clarified that remittances from abroad would not attract service tax. As the amount of remittance comprises money, the activity does not comprise a service and thus not subjected to service tax, it said.
JULY 2012
The government has decided to expand the scope of Food Security Bill to cover about 70 per cent of the country's
GYANMS GENERAL AWARENESS DECEMBER 2012
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Sugar mills will have to pay farmers at least Rs 170 per quintal as the fair and remunerative price (FRP) for cane in the new season starting October 1, up from Rs 145/quintal in the current season.
toilets, proper signages in and around the premises of the heritage site, are taken care of.
JUNE 2012
IDENTIFY BPL TRIBAL FAMILIES: RAMESH
Rural Development Minister Mr. Jairam Ramesh has directed Chief Ministers of all the states to ensure that all efforts should be made to identify the BPL tribal families and make them eligible for the Indira Awaas Yojana and the National Social Assistance Programme.
Rural Development Ministry has announced that they would soon sign a Memorandum of Understanding (MoU) with the DRDO, Ministry of Defence for installation of bio-toilets in 1000 gram panchayats across the country. The project will cost Rs 400crores.
Chartered Accountants will begin certification of accounts under MGNREGA scheme at randomly selected village panchayats from April 2013. Every year, 20 per cent of the village panchayats in the country will be randomly selected for CA certification.
The government has decided to exempt 14 more services from payment of service tax by July 1. Advocates with a turnover of up to Rs 10 lakhs, companies engaged in construction of metro projects, law firms, and entities providing public conveniences will not have to pay 12 per cent service tax.
Seeking to give a big boost to sanitation in rural areas, Planning Commission has allocated a sum of Rs 36,000 crores for improving sanitation in rural areas during the 12th Five Year Plan, up from Rs 7800 Crore in the previous Plan.
Railways has decided to grant 50 per cent concession in train fares to patients suffering from aplastic anaemia and sickle cell anaemia for their onward and return journey when they go for treatment or periodical check-up to recognised hospitals.
The government has lifted ban on exports of skimmed milk powder (SMP) to improve finances of dairy firms and help milk producers. However ban continues on exports of milk and cream, concentrated or containing added sugar or other sweetening matter, including whole milk powder, dairy whitener and infant milk foods.
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JAVED KHAN (SSC TIER II, AAI, RAILTEL, SAIL)
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MAY 2012
CENTENARY AWARD FOR FILMS
To celebrate the 100th year of Indian cinema, the I&B ministry has instituted a Centenary Award (of Rs 10 lakh) which will be given to a path-breaking Indian or International film every year at the International Film Festival of India (IFFI) in Goa.
INDUSTRY PROMOTION BOARD SET UP Government has set up a high-level Manufacturing Industry promotion Board (MIPB) under Commerce and
Industry Minister Anand Sharma to boost manufacturing sector.
IRDA has proposed to make it mandatory for health insurers to provide policy cover to people up to 65 years and settle all claims within a month.
The Ministry of Statistics and Programme Implementation has announced a new scheme 'One MP - One Idea' under the Member of Parliament Local Area Development Scheme (MPLADS). An 'One MP - One Idea' Competition will be held in each Lok Sabha constituency annually to select the three best innovative ideas received from the local people regarding developmental projects in the constituency.
The government has increased interest rates on General Provident Fund, GPF, State Provident Funds and Special Deposit Scheme, SDS, for the current financial year to 8.8 per cent. The rates were currently at 8.6 per cent.
Govt has extended the Rashtriya Swasthya Bima Yojana (RSBY) to domestic workers. India and Bahrain have signed a Tax Information Exchange Agreement.
The Marriage Laws (Amendment) Bill, approved by the cabinet, will give the woman, in case of divorce, half a share in her husband's residential property, regardless of whether the property was acquired before or during the marriage. This is the first time that the woman's share in marital property has been made part of the marriage legislation.
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should treat all movable and immovable assets of a married couple or a couple living together as joint property and which can be divided at the time of separation/desertion, regardless of who has bought the property, the minister said.
Parliament has passed an act enabling registration of marriages of Sikhs under the Anand Marriage Act, 1909 meeting a long-standing demand of the community for a separate provision for them instead of being included under the Hindu Marriage Act. The Anand Act, enacted in 1909, had no provision for registration of marriage which continued to be registered under the Hindu Marriage Act, 1955.
The Corporate Affairs Ministry plans to bring out a Business Confidence Index (BCI), which would be an indicator of optimism of business managers in the country. The index would help measure the business sectors perception based on political and economic situation. This would enable to bring out the right pulse and vibrancy in the economy.
The Railways has fixed a target of planting one crore saplings on its land in the current financial year. In the last three years, about two crore and sixty-one lakh saplings were planted. This drive is part of the Railways' commitment to improve the environment as also to safeguard its land from unauthorized occupation.
According to the Finance Bill, it is now mandatory for the seller of jewellery to collect tax at the rate of 1% from the sale amount from the buyer for all cash transaction exceeding Rs 500,000 and deposit it with the Government. (Earlier the limit proposed was 2 lac only).
PLIF FOR INDIAN WORKERS ABROAD The government is promoting a new Pension and Life Insurance Fund (PLIF) scheme in a bid to provide
financial security to poor Indians working abroad. PILF is for Indian workers aged between 18 and 50 who have a work permit or employment contract and whose passports carry the 'Emigration Clearance Required' stamp.
NOTIFICATION OF TB MANDATORY
The Centre has declared Tuberculosis, TB as a mandatory notifiable disease with immediate effect. Notification of TB cases by all healthcare providers will help patients better access to quality diagnosis and treatment.
The government has put its foot down against corporal punishment and ragging and is proposing changes in the law that would send offenders to up to seven years in jail. To protect children in educational institutions, the government has for the first time defined corporal punishment and ragging in the proposed changes to the Juvenile Justice Act, which is being renamed as the Child Justice (Care, Protection and Rehabilitation of Children) Act.
The Department of Post plans to set up 1000 ATMs at post offices and convert them into banks for taking core banking to unbanked population using the vast postal network. There are 154,688 post offices in the country, the largest postal network in the world. Of these 25,154 are departmental post offices and the rest Gramin Dak Sewak (GDS) managed post offices which are predominantly in the rural areas.
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The government has increased interest rates on Special Deposit Scheme (SDS) and State Provident Funds for the year 2012-13 to 8.8 per cent from 8.6 per cent at present. The new rate will be applicable from April, 1, 2012. Government has decided to set up a call centre with a portal for receiving RTI applications. Lok Sabha has approved a bill to establish separate High Courts for Meghalaya, Manipur and Tripura. Railways has increased the distance that could be covered under the Izzat' monthly season ticket scheme from 100 kms to 150 kms. Government has decided to complete the digitalisation in the cable TV sector in a phased manner. It has been decided to completely change over from analog to digital services by December 2014.
The government plans to raise India's share in the global foreign direct investment (FDI) to 5 per cent by 2017 by streamlining policies for attracting investments.
ECONOMIC INDICATORS
OCTOBER 2012
WB LOWERS GROWTH RATE TO 6%
The World Bank lowered India's growth projection for the current fiscal to 6% from 6.9% estimated in June this year, and warned that the possibilities of a worse performance are high. The bank said that the country will face a significant slowdown from the recovery it made between 2009 and 2011 owing to global uncertainties playing havoc with current account, low business confidence caused by lack of policy initiatives and ballooning fiscal imbalances.
APRIL 2012
Rs 23000CR FOR DISASTER MANAGEMENT
With an aim to effectively manage disasters, the Government has allotted Rs 23,000 crore for developing disaster management infrastructure at the state, district and panchayat levels across the country.
Amid depleting resources and rising global prices of soil nutrients, the Fertiliser Ministry has proposed a Sovereign Wealth Fund (SWF) of $ 1 billion to acquire such assets abroad. India imports about 6 million tonne each of potash and urea and 7 million tonnes of Di-ammonium Phosphate (DAP) every year.
International ratings firm Fitch lowered Indias growth projection for the current fiscal to 6 per cent from 6.5 per cent estimated earlier citing challenging economic outlook. Firm said the high fiscal deficit left little room for government for fiscal easing and increasing spending. Further, weak investments were affecting supply capacity and thereby pointing towards weaker growth outlook.
Government has made it mandatory for individuals with income of over Rs 10 lakh to file their tax returns for 201112 electronically.
The Asian Development Bank has slashed its growth forecast for India to 5.6% for current fiscal compared to 7% reported earlier, citing sluggish global demand and low agricultural production due to weak monsoon. Recently, India has suffered downward growth revisions from all quarters with a majority of private analysts revising the growth in the range of 5.5%.
The government will set up 10 spice parks across the most strategic locations in the country by the end of this year to promote export of spices. Three such parks have already been set up.
India's exports contracted for the fifth straight month in September while imports rose marginally, pushing up the trade deficit to an 11-month high of $18.1 billion. Exports contracted 10.8% from a year ago to $23.7 billion, while imports rose 5.1% to $41.8 billion on a 31% rise in oil imports to $14.1 billion.
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SEPTEMBER 2012
Q1 GDP VALUED AT Rs 21.79 TRILLION
As per latest data from CSO, Indias GDP at factor cost at current prices in first quarter of 2012-13, is estimated at Rs 21,78,778 crore, as against Rs 19,19,286 crore in Q1, 201112, showing an increase of 13.5 per cent. The economic activities which registered significant growth in Q1 of 201213 over Q1 of 2011-12 are 'construction' at 10.9 per cent, 'financing, insurance, real estate and business services' at 10.8 per cent and 'community, social and personal services' at 7.9 per cent.
In its latest World Economic Outlook projections, the IMF has cut its 2012 growth estimate for the Indian economy by 0.7 percentage points to 6.1 per cent. In 2010, the Indian economy grew by 10.8 per cent, according to the IMF data. In 2011, this slowed to 7.1 per cent.
Prime Minister with all chief ministers and union cabinet ministers on board. It is the final authority to finalise the five-year policy document.
Credit rating agency Standard & Poor's has slashed India's growth forecast for the current fiscal by a percentage point to 5.5 per cent from 6.5 per cent, in line with the April-June quarter growth of 5.5 per cent. S&P also cut China's growth to 7.5 per cent from 8 per cent for 2012 calendar. Agency has slammed the country for its policy and infrastructure that have slowed down investments.
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AUGUST 2012
PM PROJECTS GROWTH OF OVER 6.5%
Prime Minister has projected Indias economic growth in the current fiscal to be a little higher than 6.5 per cent achieved a year ago. The 6.5 per cent GDP growth in 2011-12 was the lowest in nine years. The governments original GDP projection for 2012-13 was 7.6 per cent. PMs views are in contrast to view of major private forecasters including Citi, CLSA, Crisil and Moodys who trimmed their forecast to as low as 5.5 per cent citing inaction on the policy front as one of the reasons for slowdown in economic activities.
JULY 2012
INDIAs GDP TO CROSS $ 5 TRILLION
Business information and knowledge provider Dun & Bradstreet in its publication, India 2020 - economy outlook, has forecasted that India's GDP will cross the US$ 5 trillion mark by 2020 despite the economy slowdown.
The government has pegged the country's total foodgrains production at an all-time high of more than 257 million tonnes, for the 2011-12 crop year. The massive growth was on account of implementation of several schemes including 'Bringing Green Revolution in Eastern region' in the 11th Five year plan (2007-12). Crop Rice Wheat Pulses Production in 2011-12 (million tonnes) 104.32 93.90 17.21
JUNE 2012
GDP RATE SINKS TO 6.5% UN GROWTH LOWERS GROWTH RATE FOR INDIA
The countrys economic growth rate for 2011-12 slipped to 6.5% as compared to 8.54% for the year 201011. The growth has been hit hard by global woes and domestic problems. For the quarter ending 31 March, 2012 GDP growth rate was 5.3 per cent as compared The United Nations (UN) to has sharply lowered its growth a forecast robust for 9.2 per India for cent the year 2012 to 6.7% from an expansion in the same citing weakening domestic earlier estimate of 7.7% quarter of the previous year. The main culprit has been demand particularly in private investment due the to manufacturing sector which, along with the farm segment, aggressive monetary tightening and standstill in policy fared poorly. decisions as the major reasons.
As per provisional data released by India's statistics office, monthly per capita rural consumption rose 18% in real terms in 2011-12 to Rs 707.24 (2004-05 prices) from Rs 599.06 in drought hit 2009-10. This has led to increase in rural consumption. In the same period, urban consumption rose 13.3% to Rs 1,359.75 from Rs 1,200, explaining the narrowing of the rural-urban divide.
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The government has prepared a Strategy Paper for doubling India's merchandise exports to 500 Billion US dollars by 2013-14. Govt has fixed four percent growth rate for agriculture during the 12th Five Year Plan.
APRIL 2012
S&P DOWNGRADES INDIA
In a wake-up call to the government to put its act together on the macroeconomic front, global rating agency Standard & Poor's (S&P) has scaled down India's credit rating outlook from stable' (BBB+) to negative' (BBB -) with a warning of a downgrade if there is no improvement in the fiscal situation and political climate. The S&P also lowered the rating outlook of the country's 10 top banks.
The government's fiscal deficit during 2011-12 worked out to be 5.76 per cent of GDP, lower than 5.9 per cent projected in the revised estimates in the Budget, against the original target of 4.6 % of GDP. Fiscal deficit, the difference between the government's total receipts and expenditure, stood at Rs.5,09,731 crore in 2011-12, as per provisional data released by Controller General of Accounts (CGA
WHAT DOES RATINGS SIGNIFY Outlook indicates potential direction of ratings in short to medium term, typically six months to two years. Stable outlook means that the ratings are not going to change. Negative outlook indicates that the ratings might be downgraded, while positive outlook means that the ratings may be upgraded. Ratings agencies also give developing or evolving outlook, which indicate that the ratings might be lowered or upgraded.
As per FAO data, world output of rice rose by 2.6 per cent to all-time high of 480.1 million tonnes in 2011, Prime Minister has set an investment target of Rs 2 lakh crore for core sector projects in the current fiscal in a bid to revert back to 9 per cent economic growth.
MAY 2012
RECORD FDI IN 2011-12
Undeterred by a slowdown in growth, India's foreign direct investment flow touched a record $50 billion in 2011-12, the highest since investments were opened up in 1996. With an eight-fold increase, India attracted foreign direct investment (FDI) of $ 8.1 billion in March, the highest ever monthly inflows. British energy major BP's investment of $8.9 billion into India in March 2012 as part of its deal with Reliance Industries earlier this year, played a significant role in helping the country reach the record investment figure.
IT exports from India totalled about $69.7 billion during financial year 2011-12, constituting roughly 23% of total exports.
ECONOMY
OCTOBER 2012
12TH FIVE YEAR PLAN APPROVED
The govt has approved the 12th Five Year Plan (2012-17) document that seeks to achieve annual average economic growth rate of 8.2 percent. Now it will be put up before the National Development Council (NDC) for approval. The projected average rate of gross capital formation in the 12th Plan is 37 per cent of GDP. The projected gross domestic savings rate is 34.2 per cent of GDP.
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GYANMS GENERAL AWARENESS DECEMBER 2012
The Vijay Kelkar Committee on Fiscal Consolidation has recommended four pillars under which the government can lower its fiscal deficit to 5.2% of GDP in FY13, and further to 4.6% and 3.9% in FY14 and FY15, respectively.
Improve Tax measures and administration: penalize non-compliance on tax payments, review commodities that attract excise tax duty of 6% or lower and prune the negative list on services tax.
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Increase disinvestment proceeds and consider monetizing govts land resources. Cut subsidies on diesel, LPG cylinder and kerosene. Economise on Plan Expenditure: The increase should not be more than 15% and 18% year on year (yo-y) in FY14 and FY15 respectively.
The country's total covered storage capacity for foodgrains is likely to increase to about 71 million tonnes in the next two years on the back of construction of godowns in 19 states by FCI. In addition, the Food Ministry has approved construction of modern silos with a total capacity of 2 million tonnes, which will commence in the next two years. The country has been facing huge problem of foodgrain storage in the past few years on account of record production of foodgrains.
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The government has approved 10 per cent stake sale in the iron ore mining major NMDC (National Mineral Development Corporation) that could fetch over Rs 7,000 crore. The Cabinet Committee on Economic Affairs (CCEA) has cleared sale of about 39 crore equity of NMDC of face value of Rs 1 each through the Offer for Sale (OFS) route. At present, the government holds 90 per cent stake in the National Mineral Development Corporation (NMDC).
The Corporate Affairs Ministry has extended the deadline for companies for making filings in the new reporting format, XBRL, to December 15, as per International Financial Reporting Standards (IFRS). XBRL or eXtensible Business Reporting Language (XBRL), that replaces PDF format, is expected to bring in more transparency when it comes to furnishing of financial statements by the companies.
SEBI proposes to bring more classes of financial instruments, including insurance policies, bank fixed deposits and post office deposits under the ambit of asset categories that can be held in demat or electronic form. The proposed move is expected to make it simpler to maintain and safe-keep various kinds of financial instruments, as the risks like loss and theft get minimised in demat form, as compared to the physical paper form. Further, it will enable the investor to view all his investments in a single statement.
financial sector legislations in tune with the contemporary requirements of the sector. At present, there are over 60 Acts and multiple rules and regulations that govern the financial sector.
To enhance transparency in Stock market tradings, the Bombay Stock Exchange has decided to provide SMS of transaction details to mobile phones and Email accounts of investors. The move, a first of its kind in the country, is aimed at checking unauthorised stock market trades through investor accounts. The National Stock Exchange, Nifty's SMS service has also been started from the 15th Oct.
The high-level committee on financing of infrastructure, headed by HDFC Chairman Deepak Parekh, has recommended for 100 percent foreign direct investment (FDI) in the telecom sector. The limit at present is 74 percent. The panel also suggested raising prices of natural gas, electricity and rail fares.
SEBI approves MCX Stock Exchange Ltd (MCX-SX) to deal in shares and related instruments
SEPTEMBER 2012
LIC LAUNCHES JEEVAN DEEP
Life Insurance Corporation of India has launched a micro insurance product, Jeevan Deep. This product, which commemorates the Corporations 56th anniversary, is its third after Jeevan Madhu and Jeevan Mangal, targeted at the economically weaker section. Under the scheme, the minimum sum assured is Rs 5,000 and the maximum is Rs 30,000.
The President gave away 46 Niryat Shree Awards to exporters for their excellent performance and 6 Niryat Bandhu Awards to Export Promotion Councils and Banks for their support to the exporting community.
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operations in India. Besides, the Foreign Investment Promotion Board (FIPB) cleared nine other FDI proposals amounting to about Rs 260 crore.
Insurance regulator, IRDA, has come out with draft regulations for general insurance companies to raise capital through public issue of shares. The draft regulations stipulate that a company can come out with a public issue only on completion of 10 years from the date of commencement of business, or such other period as may be specified by the Central Government.
Large uranium deposits have been discovered at Rohil in Rajasthans Sikar district.
The Government has set up an Investment Tracking System for Projects with an investment of Rs.1000 crore and above. The purpose of this mechanism is to periodically monitor implementation of projects and identify systemic issues and attempt to have these resolved. Under this system, National Manufacturing Competitiveness Council (NMCC) will track all such Public Sector Projects and the Department of Financial Services, Ministry of Finance will monitor these projects in private sector.
Govt plans to implement internationally accepted reporting rules, IFRS (International Financial Reporting Standards), from April 1 next year. This will be done even if the proposed new direct taxes code is not ushered in by that date.
AUGUST 2012
CONVERSION OF IDRs ALLOWED
Financial regulators RBI and SEBI have allowed partial flexibility in conversion of Indian Depository Receipts (IDRs) into equity shares by investors, while capping the funds to be raised through IDRs at USD 5 billion. The move is expected to help in attracting foreign entities to list their IDRs on domestic bourses.
India Post has chosen Infosys as its technology and consulting partner to integrate its delivery of financial products across its network of 1.5 lakh post offices in the country.
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will be nil AMC and for Rs.50,001-200,000, the AMC will be up to Rs.100.
The Reserve Bank has introduced Internet-based platform for trading of government securities in secondary market for gilt account holders. The web-based NDS-OM (Negotiated Dealing System-Order Matching) system module will facilitate buying and selling of government bonds or securities online to the gilt account holders (GAH).
JULY 2012
MOBILE REMITTANCE SCHEME FROM INDIA POST
Postal Department is launching an instant money remittance scheme, mobile remittance scheme, in tie-up with the BSNL infrastructure by next month. In the first phase the scheme will be implemented in selected states like Kerala, Bihar, New Delhi and Punjab
WHAT ARE GILTS Gilt-edged securities are bonds issued by national governments. The term is of British origin, and originally referred to the debt securities issued by the Bank of England, which had a gilt (or gilded) edge. Hence, they are known as gilt-edged securities, or gilts for short. Today the term is used in the United Kingdom as well as some Commonwealth nations, such as South Africa and India.
DISINVESTMENT IN SAIL
The government has approved the sale of 10.82 per cent of its stake in Steel Authority of India (SAIL), which may fetch the exchequer over Rs 4,000 crore. The Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister cleared SAIL public offer.
The government has extended by one year the one per cent interest subvention scheme on housing loans of up to Rs 15 lakh, provided the cost of the house does not exceed Rs 25 lakh. The Central Board of Direct Taxes has made e-filing of income-tax returns mandatory for all assessees whose annual earnings exceeded Rs. 10 lakh during the fiscal 2011-12.
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JUNE 2012
RBI conducted its first Mid-Quarter Monetary Policy Review on 18th June 2012. Following are the highlights of the review: No change in key policy rates as inflationary pressures are still high Export refinance limit raised to release extra Rs 30,000 crore in the market
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Global economic conditions have further deteriorated since April, 2012 Domestic economic situation raises several concerns as several factors besides high interest rates are more responsible for slowdown
WHAT IS MSP To ensure remunerative return to the farmers, government announces minimum support price for various agriculture products. These agriculture products are procured by government through Food Corporation of India and various state organizations at the MSP.
The World Bank has urged India to make provident fund membership compulsory for all formal sector staff and urgently raise the 6,500 wage ceiling for mandatory PF contributions. The Bank has also advised to reduce the threshold for bringing firms under the Employees' Provident Fund (EPF) net from 20 staff to 10.
Insurance Regulatory and Development Authority has asked the insurance companies to allot the lapsed orphan' life insurance policies to other individual insurance agents with valid license for rendering effective service to the policyholders. Orphan' policies refer to the policies booked by an insurance agent whose services are subsequently terminated, removed or deleted from the rolls of the insurer, rendering the policies orphan.
Even as anti-mega dam groups and organisations in Assam have intensified their agitation, demanding a halt to the ongoing 2,000-MW Lower Subonsiri hydroelectric project of NHPC Limited at Gerukamukh on the Assam-Arunachal Pradesh border, the Union government has decided to go ahead with 157 hydro power schemes with an installed capacity of 57,672 MW in the North-East, including Sikkim, for meeting the shortfall in the country's power generation.
Reliance Industries has announced investment of Rs 100,000 crore in next 4-5 years in core businesses of petrochem and oil and gas as well as in new sectors of retail and telecom, to double its operating profits.
MSP HIKED
In view of rising input costs, the Cabinet Committee on Economic Affairs (CCEA) has announced Rs 170 per quintal hike in support price of paddy to farmers at Rs 1,250 for the 2012-13 crop year (July-June). Prices for other major crops have been fixed as under: Crop Urad Soyabeen Sunflower Maize and Bajra Rs. / Quintal 4300 2200 3700 1175
The govt has imposed anti-dumping duty on imports of plain gypsum plaster boards from China, Thailand, Indonesia and the UAE. The Competition Commission of India has imposed more than six thousand crore rupees as penalty on 11 Cement Companies for price cartelisation. India has set a bilateral trade target of $15 billion with Brazil by 2015 and sought its investments support in the infrastructure sector. India has committed a $100-million line of credit to Nigeria for upgrading its power sector
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MAY 2012
$ 6.25 BILLION ADB LOAN TO INDIA
The Asian Development Bank (ADB) will provide assistance of USD 6.25 billion to India over three years for various projects, including those in the energy and education sectors. The lending is to support inclusive and environmentally sustainable growth".
Deutschland AG. (Euler Hermes) on May 7 at Berlin, Germany. The loan will be primarily used to finance goods and services procured from German suppliers as part of RIL's petrochemicals expansion projects at Jamnagar, Hazira, Silvassa and Dahej in India.
Helped by bumper production, wheat procurement in the country has grown to a record 32.6 million tonnes (mt) this year so far and is expected to grow further as states like Madhya Pradesh and Uttar Pradesh still seeing daily crop arrival of up to 150,000 tonnes. Punjab and Haryana, known as food bowls of the country, have contributed record 12.8 mt and 8.6 mt of the grain respectively this year.
The first Russian-Indian trade house has been opened in Mumbai. This will be followed by the opening of the similar center in Moscow also. The project aims at promoting trade and investment between two countries.
INDIA SIGNS GSPA FOR TAPI GAS Union Cabinet has signed the Gas Sale and Purchase Agreement (GSPA) for buying gas from Turkmenistan
through the $7.6 billion Turkmenistan-Aghanistan-PakistanIndia (TAPI) pipeline. The 1,735 kilometres pipeline will run from the Turkmenistan gas fields (Dauletabad gas field) through Afghanistan and Pakistan to Fazilka in Punjab, India.
Sebi has asked the government to route tax-saving Rajiv Gandhi Equity Savings Scheme (RESS) through mutual funds. Sebi feels that first time investors may not have adequate information about the stock market and so they should enter the market through institutional investors like mutual funds.
The Government has decided to allow export of one million tonnes of Sugar. Govt has decided to cut crude oil import from Iran by 11 per cent to 15.5 million tonnes in 201112. India has decided to convert 200 million US Dollars as grant to Bangladesh, out of the One billion US Dollar credit being provided by India to Bangladesh.
APRIL 2012
DTC IMPLEMENTATION BY APRIL 1, 2013
India will implement the direct tax code (DTC) from April 1, 2013, Finance Secretary R.S. Gujral told a television channel. The code, which will replace existing Indian Income Tax Act 1961, intends to cut tax rates, bring more people and companies under the tax net, phase out profit-linked exemptions for companies and replace them with investment-linked incentives.
RAJIV GANDHI EQUITY SAVINGS SCHEME This is the first-ever tax benefit scheme announced by the government to encourage retail investors participation in the equity market. By offering this scheme, the government aims at channelising household savings into stock markets. Under the scheme the government had announced 50 percent tax deduction to retail investors with annual income of less than Rs 10 lakh for investment up to Rs 50,000 in a year with a lock-in period of three years. A retail investor can avail the scheme only once in a life time.
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Reserve Bank of India will offer Swap Arrangement of two billion dollars both in foreign currency and Indian currency to SAARC nations. The swap will be offered in US dollar, Euro or Indian Rupee against the domestic currency or domestic currency denominated government securities of the requesting country.
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Reliance Industries (RIL) has signed a $ 2 billion (Rs 10800 crore) loan with nine banks covered by Euler Hermes
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BANKING
OCTOBER 2012
CRR CUT DOWN TO 4.5%
Reserve Bank of India (RBI) slashed the CRR by 25 bps to 4.25% but kept the other key policy rates unchanged in its Second Quarter Review of Monetary Policy for 201213 on Oct. 30. The CRR cut is meant to inject Rs 17500 crore into the banking system. The FY13 growth forecast has been cut to 5.8% from 6.5%. The bank sees a reasonable likelihood of easing in the fourth quarter of the current financial year.
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RBI has raised the provisioning norms for restructured standard accounts (bad loans that have been converted to normal by restructuring their repayment schedules) from 2% to 2.75% and also hinted that banks that do not comply with rules related to bad loans will face penalties from the regulator.
NO TAX ON P-NOTES
Holders of participatory notes, or P-notes, will have no tax liability now and a clarification on these notes will be issued in due course by the Finance Minister.
What are participatory notes? Participatory notes are offshore derivative instruments issued by foreign institutional investors with Indian shares as underlying to other overseas investors. These are issued by foreign portfolio investors registered with the SEBI to investors overseas and they offer the buyer anonymity. Why are they used? These instruments aid investors who do not want to register with Sebi and reveal their identities to take positions in the Indian market.
The World Bank has sanctioned 32 crore rupees for Rural Electrification at Sagar Island in Sunderbans of West Bengal.
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STANDARDISATION OF CHEQUES
The Reserve Bank has directed all banks to issue cheques with uniform features conforming to Cheque Truncation System (CTS) 2010 standard by end September. The homogeneity in security features act as deterrent against frauds and the fixed field placement specifications facilitate straight-through-processing at drawee banks' end through the use of optical or image character recognition technology.
Reserve Bank has agreed to National Payments Corporation of India's proposal for removing the cash retraction system from all ATMs to deal with the increasing number of fraudulent claims about non-receipt of cash. Accordingly, the banks have done away with this system in all the ATMs. This system enables the ATM to take back the currency if it is not removed within a certain time.
The RBI sets up Financial Inclusion Advisory Committee headed by its Deputy Governor K. C. Chakrabarty to push up efforts to promote financial inclusion.
To promote cashless transactions, the Finance Ministry has asked public sector banks to take steps to reduce the fee to zero for electronic transfer of funds up to Rs one lakh. Currently, most banks charge a maximum fee of Rs 5 per transfer of funds up to Rs 1 lakh from one account to another through National Electronic Funds Transfer (NEFT) system.
SEPTEMBER 2012
BANKS NEED 5 LAC CR FOR CAPITAL
The Reserve Bank of India has estimated that the Indian banks will require an additional capital of Rs 5 lakh crore to meet the new global banking norms, Basel III. Out of this, Rs 1,75,000 crore will be core capital (tier-I) and Rs. 3,75,000 in non equity capital (tier-II). The government, which owns 70 per cent of the banking system, will have to pump in Rs 90,000 crore equity to retain its shareholding in the Public Sector Banks (PSBs). The new norms are to be implemented from January 1, 2013 in a phased manner and should be in place by banks by March 2018.
The Finance Ministry has asked public sector banks to put in place a three-tier grievance redressal mechanism to sort out problems being faced by students in obtaining education loans. Applicants should be advised of the mechanism at the branch, zonal office and head-office levels at the time of submission of loan application. Besides, the banks should introduce a system of review by the next higher authority where application for education loan is rejected.
CONSOLIDATION OF RRBs
The Finance Ministry is considering a proposal to further consolidate the number of Regional Rural Banks (RRBs) to 55 for improving their efficiency and to better serve the rural economy. There are 82 RRBs sponsored by various public sector banks across the country with a network of about 16,000 branches.
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State Bank of India is targeting to massively increase its point of sale (PoS) terminals to one lakh by next March from the current 18,500. Private sector Axis Bank is the market leader in the merchant acquisition business with nearly 2.30 lakh PoS terminals.
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The Finance Ministry has declined permission to Iran's Parsian Bank to open a branch in India apparently due to security concerns and threat of money laundering. Reserve Bank has permitted Indians to invest in Pakistan to promote bilateral trade and investment. Nabard to offer free SMS-based weather and crop advisory services to over 50,000 farmers in 10 districts in Maharashtra on a pilot project.
AUGUST 2012
FM DEMANDS MORE FROM BANKS
Mr. P Chidambaram, Finance Minister has directed public sector banks to cut interest rates and provide cheaper credit at lower EMIs so as to induce spending on durable goods to promote manufacturing growth. Other important directives included: Reschedule the short-term loans in to long-term for farmers in drought-affected States, in view of the deficient monsoon Revise the sanction norms of education loans to ensure that eligible students are not turned back. Double the number of ATMs in two years from the current 63,000 and also provide the facility of cash acceptance.
FD RULES REVISED
The RBI has asked all banks to modify Fixed Deposit (FD) account opening forms to allow pre-mature withdrawal of FD, without any penalty, on death of one of the joint account holders. Under the modified norms, it would be easier for the surviving joint account holders of FD with 'either or survivor' or 'former or survivor' mandate to go in for premature withdrawal of FD in the event of death of the other.
Pakistan's central bank has allowed two banks the National Bank of Pakistan and the United Bank Ltd to open branches in India as part of efforts to normalise economic and trade relations between the two countries. State Bank of India (SBI) and Bank of India (BoI) are the two Indian banks that have been allowed to operate in Pakistan.
The Reserve Bank has relaxed the repayment norms for Kisan Credit Cards (KCC) to help over 10 crore farmers tide over the difficult financial situation due to deficient monsoon. RBI has removed the clause pertaining to mandatory repayment of loans by card holders within a year and gave freedom to banks to fix the repayment period as per the anticipated harvesting and marketing period for the crops for which a loan has been granted.
GYANMS GENERAL AWARENESS DECEMBER 2012
With a view to improving customer services and speeding up fund transfer, the Reserve Bank has asked all CBS (core banking solutions)-enabled banks to issue 'payable at par'/'multi-city' cheques only to all eligible customers and not to collect any clearing charges on them. A 'payable at par' or 'multi-city' cheque of a bank can be cleared by any branch of the same bank in the country.
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committee among other thing will include suggesting appropriate mechanism for consolidation by way of amalgamation, merger, takeover, liquidation and delayering. The committee will be headed by NABARD Chairman Prakash Bakshi.
The National Bank for Agriculture and Rural Development (Nabard) has created a Producers Organisation Development Fund to comprehensively support producer organisations across the country. The fund will give support for capacity building by these organisations.
Credit card issuer SBI Cards has launched its online application service Click2Card, allowing customers to apply online for issuance of a credit card by simply entering their details on a secure web interface. IDBI Bank has launched a floating interest rate retail term deposit (FRTD). The rate of interest on the FRTD will move in tandem with a reference rate, which is the average yield at the 364-Days Treasury Bills auctions undertaken by the Reserve Bank of India (RBI) during the preceding three months.
JULY 2012
RBI CUTS SLR TO 23 PER CENT
Announcing its first quarterly review of the monetary policy, RBI decided to give priority to control the inflation and so made no changes in its key policy rates Repo rate and CRR. However, to give some relief to bankers in terms of enhanced liquidity, it relaxed the Statutory Liquidity Ratio by 100 basis points to 23 per cent, wef fortnight beginning August 11, 2012. Not foreseeing any improvement in the economic scenario in the domestic and global markets in the immediate future, it has lowered the growth projections for Indian economy for 2012-13 from 7.3 to 6.5 per cent. The overall stance of monetary policy is intended to: contain inflation and anchor inflation expectations; support a sustainable growth path over the mediumterm; and continue to provide liquidity to facilitate credit availability to productive sectors.
As per recent RBI data, over Rs. 2481 crores was lying in 1,12,49,844 unclaimed deposits accounts(a/cs which had not been operated upon for 10 years), with 85 nationalised, public sector, private sector, foreign and other banks operating in the country as on December 31, 2011.
State Bank of India Chairman Pratip Chaudhuri has made a strong pitch for the abolition of cash reserve ratio (CRR), saying that keeping these funds with the Reserve Bank without any interest was costing the banking system about Rs 21,000 crore. RBI should either do away with CRR or compensate the banks for the losses incurred as the banking system was not earning any interest on it. Banks are required to keep cash equal to 4.50 per cent of their deposits with RBI. However, Dr. K.C. Chakrabarty, Dy. Governor, RBI snubbed Chaudhuri for his remarks telling him that he has to find "some other place" if he could not work as per the central bank's regulatory environment.
(BASED ON M.V. NAIR COMMITTEE REPORT) The following important activities, among others, form part of priority sector lending as per the revised guidelines: All loans to Micro and Small manufacturing enterprises. Loans up to Rs.1 crore to Service enterprises. Housing Loans upto Rs. 25 lakh in metropolitan centres of population above `10 lakh and Rs.15 lakh at other centres.
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Education Loans upto Rs.10 lakh in India and Rs. 20 lakh abroad. Loans for housing projects exclusively for economically weaker sections and low income groups, provided the cost does not exceed Rs.5 lakh per dwelling unit. Overdrafts upto Rs.50000/- in No-Frills account. Loans to individuals other than farmers upto Rs.50000/to prepay their debt to non- institutional lenders.
structure, electronic transfer of fund up to Rs 1 lakh attracts a maximum charge of Rs 5 per transaction. The move is aimed at promoting cashless transactions.
WHAT ARE PRIORITY SECTOR ADVANCES: The priority sectors are broadly taken as those sectors of the economy which, if not designated as priority sectors, may not get timely and adequate credit. Typically these are small value loans to farmers for agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker section. Banks are required to allocate 40% of their total loans to priority sector.
JUNE 2012
RBI ENHANCES ECR TO 50%
The Reserve Bank has decided to enhance the Export Credit Refinance (ECR) limit to 50 percent of the outstanding rupee export credit for banks, from 15 percent at present, with a view to inject Rs. 30,000 crore into the banking system.
business entity, usually a manufacturer, sells its receivables to a third-party, called a factor at discounted prices.
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operating in Chhattisgarh, after bidding 0.19%. In other words, the company will be paid 0.19% of the value of the transactions handled by it.
India's first "talking" ATM for visually impaired has been installed by Union Bank of India at Ahmadabad.
Chinatrust Commercial Bank, the only Taiwanese bank operating in India, will be opening its second branch in India at Sriperumbudur, Tamil Nadu, the first being at New Delhi. RBI has advised that Banks cannot give additional interest rate benefit of one per cent per annum to their own staff on deposits under FCNR (B), NRE and NRO accounts. RBI to issue soon currency notes of Rs 20 denomination with the new rupee symbol. The govt has decided to extend pension to regional rural bank (RRB) staff at a par with the existing scheme available in the banking industry. The fourth largest bank of USA, Wells Fargo has decided to shift a large number of its jobs to India, as part of its plan to trim costs.
RBI has allowed payment of school and college fees and taxes through pre-paid payment cards, besides buying rail and air tickets, within the prescribed limit of Rs 10,000. The pre-paid cards are mainly issued by banks and Non-Banking Financial Companies (NBFCs) on payment of specified amount and are used for purchasing goods and services from limited outlets.
Housing finance regulator, National Housing Bank, has received nod from the Foreign Investment Promotion Board (FIPB) to float its mortgage guarantee company. International Finance Corporation (IFC) and Asian Development Bank (ADB) will partner NHB in forming the mortgage guarantee company. A mortgage guarantee company provides credit guarantee to housing finance companies and banks on behalf of home loan borrowers.
MAY 2012
The Reserve Bank of India (RBI) has issued the final guidelines for implementation of Basel III capital regulation in India, which would be effective from January 1, 2013, in a phased manner, to be fully implemented by March 31, 2018.
The Reserve Bank of India (RBI) has permitted NRIs to send remittances more frequently. Resident Indians are now allowed to receive as many as 30 remittances from NRI friends and relatives during a year as against 12 earlier.
FINO BECOMES BC FOR CHHATTISGARH FINO (Financial Information Network and Operations), has
won the State Bank of India tender to become the common Banking Correspondent company for all public sector banks
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Banks have to maintain Tier I capital, or core capital, of at least 7 per cent of their risk weighted assets on an ongoing basis, as against 6 per cent at present. The total capital ratio, including Tier I and Tier II, must be at least 9 per cent, unchanged from the current requirement. Banks also have to build up capital buffers, called Capital Conservation Buffer, which can be drawn down during a stressed period. This buffer will be in addition to the minimum total capital requirement of 8 per cent. In addition, the RBI has also recommended a countercyclical capital buffer, the purpose of which is to protect the banking sector from periods of excess aggregate credit growth.
WHAT ARE BASEL GUIDELINES Basel is the name of a place in Switzerland where headquarters of the Bank for International Settlements is located. It is an intergovernmental body which coordinates regulations in the fields of financial services to promote international financial stability. It issues guidelines to regulate the banking business world over. It has a Basel Committee on Banking Supervision (BCBS) which is known for the Capital Adequacy Norms issued by it in 1988, as per which banks are required to maintain a capital adequacy ratio of not less than 8 per cent of their risk weighted assets. In 2004, it issued Basel II guidelines comprising of three pillars. In 2010, it issued the present Basel III guidelines.
Union cabinet has approved a bill aimed to bring microlenders under the RBIs control. The bill proposes to make it mandatory for micro-finance institutions (MFIs) to be registered with RBI and to have minimum net-owned funds of 5 lakh rupees. The maximum interest that the Micro Finance institutions can charge is 26%. This bill is sequel to the Y.H.Malegam committee report on MFIs.
With a view to increasing the availability of funds to exporters, RBI has decided to allow banks to determine their interest rates on export credit in foreign currency with effect from May 5, 2012.
The Reserve Bank of India has set a deadline of six months for banks to reduce their exposure to such non-banking finance companies or NBFCs which have half of their total financial assets in gold loans, from 10% of their capital funds to 7.5%.
Bharti Airtel and Axis Bank have established a partnership to introduce mobile banking and payment services in India.
In a relief to customers, the Reserve Bank has asked the banks to fix a uniform fee for collection of cheques of over Rs 1 lakh, instead of levying it as a percentage of the value of the instrument.
To enable RBI to focus on its supervisory function and avoid clash between its regulatory and ownership roles, govt has decided to transfer shareholding of RBI the country's central bank in the National Housing Bank to the Centre.
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SBI plans to float a $1-billion (Rs 5,500 crore) debt bond issue by August to raise funds for its expansion plans. The Reserve Bank is holding gold reserves of 557.75 tonne valued at USD 27.02 billion, accounting for 9.2 per cent of foreign exchange reserves. The RBI has ordered exporters to convert half of their foreign exchange earnings kept in bank accounts into Indian rupee to prop up the falling value of rupee. There are 93,659 branches of Scheduled Commercial Banks (SCBs) functioning in the country as on 31st March, 2012, out of which 34,671 branches are in rural areas and 24,133 are in semi-urban areas, which together constitute about 63% of the total bank branches. State Bank of India has become largest provider of housing loans crossing a record Rs.one lakh crore mark covering 20 lakh families. SBI plans to merge its two subsidiaries, namely, Satate Bank of Hyderabad and State Bank of Patiala with itself by the end of this year. South Korea-based Woori Bank, a part of Woori Financial Group, has launched its first branch in India at Chennai.
APRIL 2012
ANNUAL POLICY STATEMENT FROM RBI
RBI announced its annual Monetary and Credit Policy for the year 2012-13. Following are some major points of the policy.
RBI has decided to increase the limit from Rs 5 lakh to Rs 10 lakh for the bank loans extended to non-governmental agencies, approved by NHB for their refinance, for onlending for the purpose of construction or reconstruction of individual dwelling units or for slum clearance and rehabilitation of slum dwellers.
policy rates for the first time in 3 years on April 17. The repo rate (the rate at which the RBI lends money to banks) was cut by 50 basis points from 8.50 per cent to 8.00 per cent. Consequently, reverse repo rate (normally fixed at a spread of 100 basis points below the repo rate) is now 7.0 per cent.
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banks under a compromise solution thrashed out between the Reserve Bank of India and the government. A policy revamp in 2009 had said that any considered foreign company with more than 50% overseas investment would be considered foreign-owned. As per this rule, many private banks such as ICICI Bank, HDFC Bank, ING Vysya, Development Credit Bank, Federal Bank, IndusInd Bank and YES Bank became foreign banks under the FDI policy.
transfer of funds will have same legal protection as the traditional banking Instruments.
From first April, Banks will stop honouring cheques and drafts if they are not presented within three months of the date of issue as against six months earlier. The RBI directive is in view of complaints that some persons were taking undue advantage of the six-month validity period and circulating these instruments like cash.
FirstRand Bank (of South Africa) has started its retail and commercial banking operations in India. The Union Cabinet has allowed private banks to raise voting rights to 26%, from 10% at present, irrespective of their share holding pattern. State Bank of India has launched the State Bank Virtual' card, an electronic debit card for e-commerce that can be created by a customer using the bank's Internet Banking facility. Reserve Bank has asked banks not to levy any foreclosure charges or pre-payment penalties on home loans on a floating interest rate basis
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DEFENCE
OCTOBER 2012
Rs 8000 CRORE APPROVED FOR MISSILES
Govt has cleared proposals of over Rs. 8,000 crore for procuring around 10,000 Invar missiles from Russia for the Armys T-90 tanks and over 200 air-launched versions of the BrahMos supersonic cruise missiles for the IAF.
India test-fired its nuclear-capable strategic missile AgniIV with a strike range of about 4000 km The Defence Ministry has cleared a proposal to procure 56 transport aircraft, at an estimated price of Rs. 12,000 crore, for the Air Force to replace the ageing Avro planes. India test-fired the 290-km BrahMos supersonic cruise missile from the integrated test range at Chandipur off the Odisha coast. The Air Force will acquire 75 Swiss-made Pilatus PC-7 basic trainer aircraft to replace the ageing Kiran aircraft at a cost of over Rs.2900 crore.
SEP-AUG 2012
India successfully test-fired Agni-III, a surface-to-surface ballistic missile having a strike range of over 3,000 km, from Wheeler Island off the Odisha coast.
JUNE 2012
INS VINDHYAGIRI
(F-42), the sixth and the last of the Nilgiri class of frigates, which was damaged in an accident last year, has been decommissioned by Indian Navy.
LAKSHYA I TESTED
The pilotless target aircraft Lakshya-1 was successfully testflown from the Integrated Test Range at Chandipur, near Balasore, Odisha.
The Indian Space Research Organisation (ISRO) has built a dedicated satellite GSAT-7 for the Navy which will be launched in a few months by an Ariane-5 rocket from the Kourou Island in French Guiana. The Navy will use it to communicate with its submarines, frigates, destroyers and aircraft from its centres on the shore.
Russia has completed the refitting of the INS Sindhurakshak, the Indian Navys Kilo-class dieselelectric submarine. INS Vikramaditya, newly refurbished aircraft carrier, converted from the erstwhile Soviet war ship Gorshkov, took to the sea for the first time on 8th June from the Sevmash shipyard in Russia.
India test-fired its indigenously developed nuclear-capable 'Prithvi-II' ballistic missile from the Integrated Test Range at Chandipur, off Odisha coast as part of a user trial by the Army. It has the capability to carry 500 kg of warheads with a strike range of 350 km.
MAY 2012
AKASH TEST FIRED SUCCESSFULLY
India test-fired two indigenously developed surface-to-air anti-aircraft 'Akash' missiles from the Integrated Test Range at Chandipur near Balasore, Odisha. The double testfire came after trials of the missile, with a range of 25 km and capable of carrying a warhead of 60 kg to neutralise aerial targets, on 24th and 26th May.
India successfully test-fired Agni-II, its nuclear capable Intermediate Range Ballistic Missile (IRBM) with a strike range of 2000 km, from the Integrated Test Range (ITR) at the Wheeler Island off Odisha coast.
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one tonne. With this, India joined the elite missile club of the US, Russia, France and China.
The nuclear-powered attack submarine INS Chakra, with lethal "hunter-killer'' and intelligence-gathering capabilities'', was formally inducted into Indian Navy on a 10-year lease from Russia at a cost of around $1 billion on April 4. It is a Akula-II class- K-152 Nerpa sub marine. With this India has become 6th country in world to have nuclear sub marine, the other 5 being USA, UK, Russia, China and France.
To give a boost to its naval warfare capability, India inducted a new warship into its fleet, INS Teg. It is the first of three guided missile stealth frigates of the modified INS Talwarclass that India commissioned in Russian shipyard Yantar. INS Teg will be followed by induction of INS Tarkash and INS Trikand in the next one year or so.
APRIL 2012
SHOORVEER EXERCISE IN THAR DESERT
The first week of May will witness one of the biggestever war games of the Army in the Thar Desert. The forces are gearing up for Shoorveer a war game and military training exercise to be held in the districts of Hanumangarh, Sri Ganganagar and Bikaner in Rajasthan. The exercise will see the deployment of more than 200 tanks and over 60,000 troops in the border State. Shoorveer comes close on the heels of the Army's Vijayee Bhava exercise in Suratgarh and Sudarshan Shakti in Barmer district.
India's multi barrel rocket launcher weapon system 'Pinaka' which can neutralise a large area with a rapid salvo of rockets was once again successfully test fired at Proof and Experimental Establishment (PXE) at Chandipur about 15 km from Balasore, Odisha. With a strike range of 40 km, 'Pinaka' could fire a salvo of 12 rockets in 44 seconds.
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the surface of Mars. The one-tonne mobile lab is the largest rover ever sent to Mars, and its high-speed landing was the most daring to date, using a rocket-powered sky crane to lower the six-wheeled vehicle gently to the red planet s surface.
India has launched its heaviest ever satellite - the GSAT-10, on board Ariane-5 rocket from Europe's spaceport in French Guiana. The satellite will be controlled from the Master Control Facility (MCF) of ISRO in Hassan in Karnataka.
Australia has set up a colossal radio telescope that will allow astronomers to detect distant galaxies and explore the depths of the universe with unprecedented precision. The Australian SKA Pathfinder telescope, at the remote Murchison Radio-astronomy Observatory in the Western Australian desert, is made up of 36 antennas, each 12 meters in diameter.
In a 'quantum' leap in physics, scientists have claimed to have spotted a sub-atomic particle "consistent" with the Higgs boson or 'God particle', believed to be a crucial building block that led to the formation of the universe. Scientists at CERN (European Centre for Nuclear Research), Switzerland, made the historic announcement, in a major milestone in the 50-year search for the elusive Higgs that is believed to have been responsible for lending mass to the particles that eventually formed the stars and the planets after the Big Bang 13.7 billion years ago.
RAILRADAR: A new online application launched by the Railways, where one can find the exact location of 6,500 trains on a Google map on a real-time basis. Microsoft has launched its latest computer operating system Windows 8 in 37 languages in 140 worldwide markets.
SEPTEMBER 2012
GISAT AN EYE IN THE SKY
Space Applications Centre, Ahmedabad is developing a satellite called the Geo-Imaging Satellite or GISAT that will keep an eye on the country to alert authorities of trouble spots, natural disasters, floods and forest fires within, say, five minutes of the event. More importantly it will also keep a watch over our sensitive borders, from a height of 36,000 kilometers. GISAT will be fixed in a geo-stationary orbit, always looking over the same region, synchronised to the Earth's 24-hour rotation.
ISRO launched its 100th satellite on 9th September when the Polar Satellite Launch Vehicle-C21 (PSLV-C21) blasted off from Sriharikota. It carried two satellites - French earth observation satellite SPOT 6 along with a micro-satellite Proiteres from Japan into a 635-km polar orbit. With a weight of 712 kg, SPOT 6 is the heaviest satellite to be launched by PSLV for an international customer. First satellite from ISRO was Aryabhatta launched in 1975 by a Russian rocket.
Astronomers have claimed to have discovered a planet that may be capable of supporting human life. The planet is 22 light years away and is formally known as Gliese 581g, an Australian daily has reported. A study by astronomers at the University of California, Santa Cruz, and the Carnegie Institution of Washington shows that the planet is twice the size of earth.
India will launch Astrosat, the astronomy satellite in polar circular orbit in 2013, to study the Universe at multiwavelengths for the first time. The 1.6-tonne satellite will be launched from the Sriharikota spaceport off the Bay of Bengal coasts in Andhra Pradesh, onboard a 300-tonne rocket with five scientific instruments to study at multiple
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wavelengths. The instruments include a soft X-ray telescope, an ultraviolet imaging telescope, an imager and a sky scanning monitor.
ISRO hosted the 39th Scientific Assembly of the Committee on Space Research (COSPAR) with the theme 'Space - for the benefit of Mankind' at Infosys Campus, Mysore during 14th22nd July. More than 2,500 scientists and students from 75 countries will witness presentations on over 3600 scientific papers, posters and reports.
APRIL 2012
RISAT 1 CREATES HISTORY
Country's first indigenous all-weather Radar Imaging Satellite (RISAT-1), whose images will facilitate agriculture and disaster management, was launched successfully on April 26 on board the PSLV-C19 from in Sriharikota, Andhra Pradesh, about 90 kilometres north of Chennai. The 1,858 kg spacecraft is countrys heaviest ever launched satellite and is capable of taking images in total cloud conditions also.
JUNE 2012
MICROSOFT LAUNCHES SURFACE
The technology firm Microsoft has unveiled its own tablet computer Surface to compete against Apple's hugely successful iPad. The touch screen computer has been designed to operate as a Personal Computer with other attachable keyboard cover and as a TV viewing platform.
The European Southern Observatory has decided to set up the European Extremely Large Telescope, the E-ELT in Chile. The 1.35-billion dollars scheme entails building a telescope with a massive light-catching mirror 39.3 metres wide, several times the size of the biggest optical telescopes today
MAY 2012
SPACE-X DRAGON JOINS SPACE STATION
SpaceX of USA became the first private commercial outfit to dock its own cargo capsule at the International Space Station, marking a new era for private spaceflight. The California-based SpaceX is owned by Internet entrepreneur Elon Musk. With no humans on board, the capsule delivered about a half tonne of supplies and science equipments for the ISS.
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INTERNATIONAL
OCTOBER 2012
SRI LANKA QUIZZED ON HUMAN RIGHTS
Ninety nine countries have posed questions to Sri Lanka on the countrys Human Rights record that will be reviewed at United Nations Human Rights Commission headquarters in Geneva. It is reported that US, UK and Canada have submitted tough questions relating to investigations of war crimes, resettlement of displaced people and progress on political settlement including elections to the Northern Province in Sri Lanka.
Google has unveiled a large-format tablet computer Nexus 10 to compete against the original iPad as part of a revamped line of its Nexus devices. It will be "the highest resolution tablet on the planet" and would offer settings for multiple user accounts, claimed Google.
Australia proposes to teach Hindi in its schools. Hurricane Sandy lashes NE USA, causing widespread devastation around New York, affecting over 5 crore people. Lahore city officials have decided to rename the Shadman Chowk in Lahore after the heroic Indian revolutionary freedom fighter Bhagat Singh, on his 105th birth day.
SEPTEMBER 2012
JAPAN TO QUIT NUCLEAR POWER
Japan has unveiled a plan to phase out nuclear power by 2030, in a major policy shift after last year's Fukushima disaster. Under proposals put forward by a government panel, the reactors would be shut down completely by the year 2040. Before the Fukushima disaster, nuclear power supplied about a third of Japan's energy needs.
A palm-sized Japanese satellite in orbit around Earth will flash a Morse code message that will be visible around the world from next month. Researchers hope the satellite; measuring 10 centimeters (four inches) cubed and launched from the International Space Station will become the first orbiter to transmit an LED message across the night sky.
Tension between Tokyo and Beijing on the issue of disputed island in east China sea has lead to wide spread anti japan protests taking place in China. The protests started after Japan said it had agreed a deal to buy a chain of disputed islands in East China Sea from their private Japanese owner. China has maintained its sovereignty over the islands which are also claimed by Taiwan.
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A weeklong film festival to mark 100 years of Indian Cinema was held in Dhaka, Bangladesh. China launches its first aircraft carrier - Liaoning The fifth meeting of the SAARC Home Ministers held in Male, Maldives.
AUGUST 2012
IRAN TO SUPPLY OIL IN INSURED TANKERS
Faced with problems of its customers not being able to import oil due to lack of adequate insurance for ships, National Iranian Oil Company has offered India and other countries the use of fully insured Iranian vessels. Almost all international insurance companies have stopped insuring oil tankers coming from Iran due to recent sanctions imposed by USA and its European allies on Iran.
Saudi Arabia is planning to build a city exclusively for women to encourage career oriented females within its strict Sharia law.
JULY 2012
S KOREA TO MINE IN INDIAN OCEAN
South Korea has announced that it has secured exclusive rights to explore and develop a deep sea mine in the resource-rich Indian Ocean that can produce over USD 300 million worth of minerals like gold, silver and copper per year. The International Seabed Authority (ISA) last week unanimously agreed to recognise South Korea's rights to the offshore mine that lies across an area of 10,000 square kilometers in the Indian Ocean.
China has announced testing of a new generation of intercontinental ballistic missile (ICBM), Dongfeng-41, with a strike range of 14,000 km and capable of carrying multiple nuclear warheads.
16th summit of Non Aligned Movement nations was held at Tehran, Iran. Prime Minister Manmohan Singh attended the summit. The relevance of NAM is evident in the gathering of the member nations, who have defied a unipolar world order and the hegemony of the West and its allies to come together in Iran, despite the sanctions and the threats being issued on a regular basis by Washington and Tel Aviv.
The Asian Development Bank has approved the inclusion of Rupee and Renminbi in their Trade Finance Programme, which so far had the dollar, euro and yen currencies only. Now ADB will finance regional trade in Indian rupee and Chinese Renminbi also.
The World Population Day was celebrated on July 11. The theme for this year is Universal Access to Reproductive
consider themselves not aligned formally with or against any major power bloc. As of 2012, the movement has 120 members and 17 observer countries. The organization was founded in Belgrade in 1961, and was largely the brainchild of Yugoslavia's president, Josip Broz Tito; India's first prime minister, Jawaharlal Nehru; Egypt's second president, Gamal Abdel Nasser; Ghana's first president Kwame Nkrumah; and Indonesia's first president, Sukarno. All five leaders were prominent advocates of a middle course for states in the Developing World between the Western and Eastern blocs in the Cold War.
The Non-Aligned Movement (NAM) countries
World Population Day is an annual event, observed on July 11 every year, which seeks to raise awareness of global population issues. The event was established by the Governing Council of the United Nations Development Programme in 1989. It was inspired by the public interest in Five Billion Day on July 11, 1987, approximately the date on which the world's population reached five billion people.
In a massive victory in its patent case against Samsung, technology giant Apple has won more than 1 billion dollars after a California jury held that the South Korean firm violated a series of Apples patents pertaining to software and design of mobile devices such as the iPhone and iPad.
Six major world powers - US, Britain, France, Germany, Russia and China held technical expert level talks with Iran in Istanbul in July 2012. The meeting is aimed at seeking clarifications from Iran on the proposals made by the six major world powers to Iran at Moscow round of talks. Iran says its rights of uranium enrichment are non negotiable and its nuclear program is for peaceful civilian purposes. Western nations allege Iran is trying to develop atom bomb under the cover of its nuclear program.
For the second time this year, contempt of court proceedings were initiated against a Pakistan Premier by the Supreme Court when current PM Raja Parvez Ashraf was asked to appear before it on August 27 and show cause why he should not be held in contempt of the court for refusing to write to the Swiss authorities asking them to reopen graft cases against President Asif Ali Zardari.
GYANMS GENERAL AWARENESS DECEMBER 2012
IT giant Microsoft has reported a loss of $492 million in the June quarter, for the first time in nearly three decades, primarily due to lower online advertising business.
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JUNE 2012
APPLE-I SOLD FOR $374,000
A rare surviving first model of the Apple computer a stripped down, clunky device that bears no resemblance to todays sleek gadgets sold for $374,000 at an auction by Sothebys in New York. The Apple I computer was created by Apple co-founders Steve Wozniak and Steve Jobs and sold in 1976.
Shanghai Cooperation Organisation Summit was held at Beijing on 6th June. India has the observer status in SCO. Foreign Minister SM Krishna attended the meet. Afghanistan received observer status at the 2012 SCO summit in Beijing, China on June 6, 2012.
The Russian Strategic Rocket Forces, RVSN (Russian name) has successfully test-fired a Topol RS-12M Intercontinental Ballistic Missile, ICBM. The RS-12M Topol is a single-warhead ICBM with a maximum range of 10,000 km and can carry a nuclear warhead.
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In Egypt, the Islamist Muslim Brotherhood partys Mohammed Mursi has won the Presidential elections In Israel, a bust of Rabindranath Tagore has been unveiled at the prestigious Hebrew University at Jerusalem to mark the 150th birth anniversary of the Nobel laureate. International conference on dealing with the issues related to maritime piracy held at Dubai
The Philippine government has decided to allow Indian nationals who are regular international travellers to enter the country without a visa and stay for up to 21 days.
been marred by demands for the country to be divided into states along ethnic lines.
Pakistan (May 29) successfully carried out a test of its indigenous quick reaction tactical nuclear-capable Hatf-IX missile with a range of 60 km, aimed at "deterring evolving threats at shorter range."
MAY 2012
UN Climate Change Meeting held at Bonn, Germany to discuss the further amendments to the Kyoto Protocol and to review the other major decisions taken at historic UN Framework Convention on Climate Change (UNFCCC) that took place in Durban in Nov, 2011. Next round of UNFCCC will be held at Doha by the end of this year.
The new passports issued by China have an electronic chip inside with personal information. Besides name and date of birth, the chip contains the holders finger prints and signature. Paper photos will also be replaced by digital ones. In addition to increased security, the E-passport is seen as an important step toward automatic processing at customs points.
Switzerland has agreed to provide details of secret bank accounts of individuals sought by India even on the basis of limited information, under a mutual DTAA inked on April 20 this year. Time magazine has selected Sanjay Leela Bhansalis classic epic Devdas as one of the 10 all time best films of this millennium. The Netherlands to host Nuclear Security Summit in 2014. A major university centre dedicated to the life and works of Rabindranath Tagore has opened in Napier University, Edinburgh, Scotland to mark his 150th birth anniversary.
Ailing Air India has been slapped a fine of $80,000 by US authorities for failing to post customer service and tarmac delay contingency plans on its website and for not adequately informing passengers about its optional fees.
APRIL 2012
GLOBAL RISE IN FOOD PRICES
Global food prices rose by 8 per cent between December 2011 and March 2012 on account of high oil prices, adverse weather conditions and increased food imports by Asia, a World Bank report stated.
The three-day meeting of the World Economic Forum on Africa was held in the Ethiopian capital, Addis Ababa.
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LT. GEN. K S BRAR (RETD.): was in news as he was attacked by alleged militants in Central London. He had led Operation Blue Star in 1984 to flush out pro Khalistani militants from the Golden Temple, Amritsar. MALALA YOUSAFZAI: She is the 14-year-old peace activist who became the voice of girls in Swat in Afghanistan when the Taliban controlled the valley in 2008. She was recently shot at and seriously injured by the Tehreek-e-Taliban Pakistan (TTP), triggering a nationwide wave of revulsion at not just terrorists but also their supporters.
SEPTEMBER 2012
AISHWARYA RAI BACHCHAN
Bollywood actress has been appointed the UN Goodwill Ambassador for UNAIDS to raise awareness on issues related to new HIV infections in children and to advocate for increased access to anti-retroviral treatment.
G-20 CALLS TO COMBAT MONEY LAUNDERING The G-20 Finance Ministers has called upon all nations to
sign the Multilateral Convention on Mutual Administrative Assistance for comprehensive exchange of information to combat money laundering and the financing of terrorism and proliferation of weapons of mass destruction. G-20 is a grouping of rich and developing countries.
ASEEM TRIVEDI
25 years old cartoonist from Kanpur was in news as he was charged with sedition for putting up banners mocking the Constitution during a rally in Mumbai.
MAMATA BANERJEE
West Bengal Chief Minister figures in the list of 50 most influential people in the world of finance as rated by Bloomberg Markets magazine. The list also includes names like American business magnate Warren Buffett, Facebook founder Mark Zuckerberg, Hyundais chairman Chung Mong Koo and America Movils chairman Carlos Slim.
SMITA SHAH
Meeting of Foreign Ministers of RIC countries held at Moscow, Russia. RIC stands for Russia, India and China. BRICS finance Washington, USA. Ministers Meeting held in
The first Indian-Americ an business women selected as a Democratic National Convention parliamentarian in USA. Admiral Devendra Kumar Joshi, an anti-submarine warfare specialist, took over as Chief of Indian Navy from Admiral Nirmal Verma.
CHRISTOPHER STEVENS
The US envoy to Libya was in news as he was killed by violent protesters in Benghazi, Libya. The protest was against a US film Innocence of Muslims which allegedly portrayed Prophet Mohammed in an insulting manner.
13th United Nations Conference on Trade and Development, UNCTAD was held in Doha, Qatar from April 21-26. It focused on trade, investment and development issues.
INNOCENCE OF MUSLIMS
A US film produced recently evoked wide spread violent protests for its anti Muslim contents, causing insult to Prophet Mohammed, in a number of Muslim countries like Libya, Egypt, Yemen killing several persons, including US ambassador to Libya Christopher Stevens.
PERSONS IN NEWS
OCTOBER 2012
FELIX BAUMGARTNER: Supersonic skydiver from Austria was in news for his death-defying, record-breaking leap from the edge of space at about 39 kms, breaking the sound barrier at a sky diving speed of 1,342-kmph on October 14, landing in a desert in New Mexico. DIEGO MARADONA: Football legend from Argentina visited Kannur, Kerala on a private tour. AISHWARYA RAI: Appointed International Goodwill Ambassador for UNAIDS, the joint UN programme on AIDS and HIV.
GYANMS GENERAL AWARENESS DECEMBER 2012
STEPHEN HAWKING
Britains most famous living scientist and universally admired for his courage in overcoming a potentially debilitating disability was in news as he inaugurated the London paralympics. He is now almost entirely paralysed and communicates through a speech generating device.
MITT ROMNEY
Republican partys candidate selected for contesting US Presidential election against Barack Obama (of Democratic party). The elections are held every four years on the
43
Election Day which is Tuesday falling between 2nd and 8th November. This year it is their 57th election and will be held on 6th November.
SUNITA WILLIAMS
Indian-American NASA astronaut was in news as she created a new world record for spending highest number of hours in spacewalk by a female astronaut. Williams has conducted six spacewalks for 44 hours and 2 minutes. Currently, she is on a mission to International Space Station. She also holds the record for spending highest number of days in space 195.
ASHOKE SEN: Indian physicist received the first Fundamental Physics award for his contribution to the ''String Theory''. The three million dollars award, started by Russian entrepreneur Yuri Milner, is the highest cash award in the world. VANYA MISHRA: Miss India 2012 lost the Miss World title to Miss China Wenxia Yu, however, she won Miss World Beauty with a Purpose and Miss Multimedia titles.
GENERAL
LIANG
GUANGLIE:
Chinese
Defence
JULY 2012
KULANDAI FRANCIS: has been awarded Magsaysay
award for his efforts for eradicating poverty and empowering more than one lakh rural women for 35 long years. His organisation, the Integrated Village Development Project provides vocational training to rural students
Minister who visited India recently. MAHMOUD ABBAS: The President of Palestine who visited New Delhi recently.
MAHINDA RAJAPAKSA:
India on a official tour.
AUGUST 2012
JULIAN ASSANGE:
Australian founder of international whistle blowing website Wikileaks has sought asylum in Ecuador by entering its embassy in London, UK. He is wanted by Sweden in some alleged sexual offences committed by him in Stockholm, Sweden.
Eminent Bengali poet and musician was in news as his 150th birth anniversary celebrations started in West Bengal.
JUNE 2012
RAJAT GUPTA: One of the most successful Indian Americans on Wall Street, the 63-year-old former Goldman Sachs director was found guilty by a Manhattan (USA) court of passing confidential market information to Galleon hedge fund founder Raj Rajaratnam, in one of America's biggest insider trading cases.
LAKHDAR
BRAHIMI: Former Algerian foreign minister was in news as he was appointed UN and Arab League envoy to Syria for brokering peace in war torn country. ANDERS BEHRING BREIVIK: A Norwegian citizen was
in news as he was sentenced to 21 years prison for his massacre of 77 people in July 2011 in Norway as part of his anti-Muslim crusade.
titles holder cycling champion from USA was in news as he was banned for life by the U.S. Anti-Doping Agency (USADA) after concluding he used banned substances. Lance was the hero of millions of cancer survivors as he himself fought cancer bravely.
WHAT IS INSIDER TRADING Insider trading is best understood as a type of securities related fraud. In this, fraudsters exploit positions of privilege to improperly source, access and utilise the Price Sensitive Information (PSI) to derive financial benefit from the share market by purchasing large number of such shares in advance whose prices are expected to increase in the near future.
SUDARSHAN PATTNAIK: Internationally-acclaimed sand artist from Odisha has won the first prize in the Copenhagen International Sand Sculpture Championship 2012, held in Denmark. Mr. Pattnaik created a 20-foot-high sand sculpture on Save the Ocean. JUSTICE MADAN BHIMARAO LOKUR: was sworn in as 26th judge of the Supreme Court, still five short of the sanctioned strength of 31 judges. FERNANDO LUGO: President of Paraguay was impeached by the Parliament over his poor handling of a deadly land dispute. LIU YANG: 33 years old air force pilot of China got the honour to become Chinas first woman astronaut and world's 57th space woman when she went up in spaceship Shenzhou-9 that docked with the Spacelab Tiangong-1.
RIAD HIJAB: Syrias Prime Minister has joined the antiregime revolt. He fled abroad, in a major blow to President Bashar Al-Assad.
The vice president of India is ex officio chairman of the Rajya Sabha and is elected by members of both houses of the Parliament i.e. Lok Sabha and Rajya Sabha.
GYANMS GENERAL AWARENESS DECEMBER 2012
44
ALLEN STANFORD: Financier and cricket mogul (62) of USA was in news as he was sentenced to 110 years in jail for running a $7-billion Ponzi scheme (fraudulent investment scheme) LEON PANETTA, the US Defence Secretary, was in New Delhi for a two-day visit to India. YOUSUF RAZA GILANI: Pakistans Prime Minister was disqualified from holding office by the Chief Justice of Pakistan, two months after convicting him of contempt of court. SNIGDHA NANDIPATI: 14years old eighth-grade student from San Diego, California was in news as she won this year's prestigious Spelling Bee Competition in USA. She correctly spelled the French word guetapens to be declared the national champion. HOSNI MUBARAK: 84 years old ousted Egyptian President was sentenced to life in prison after a court in Cairo found him guilty of complicity in the killing of over 800 protesters during the popular uprising against his 30-year rule last year. According to the latest information Mr. Hosni Mubarak is on life support system and is being kept clinically alive. CHARLES TAYLOR: Former President of Liberia was sentenced to 50 years in jail by a U.N.-backed war crimes court for arming rebels in Sierra Leone in return for blood diamonds. REHMAN MALIK: Pakistan's Interior Minister was suspended by the Supreme Court of Pakistan from the membership of parliament on the ground that he had failed to provide proof of renouncing his British citizenship, raising questions over his continuance as a minister.
ranked India-born Indra Nooyi at the 3rd spot and UPA chairperson Sonia Gandhi at No 6. JACQUES ROGGE: President of the International Olympic Committee. MICHAEL HANEKE: Austrian director won the Cannes film festival's top honor, the Palme d'Or, for the picture "Love" (Amour), his acclaimed tale of an elderly couple facing the inescapable, yet no less tragic march of death.
APRIL 2012
SARASVAT, V K: Director of DRDO was in news due to success in testing of Agni V missile. TESSY THOMAS: Project Director in DRDO who guided the team of scientists to successfully test Agni-V, the fiercest weapon in India's armour. Also known as Missile Women or Agniputri. DR K RADHAKRISHNAN: Chairman of Indian Space Research Organisation (ISRO), credited with successful launch of RISAT-1, Indias first all weather day-night viewing satellite. N VALARMATHI: First lady Project Director of a remote sensing satellite mission, credited with successful launch of RISAT-1. ZOHRA SEHGAL: The grand old lady of Indian cinema, veteran actress, Padma Vibhushan Awardee, turned 100 years old. HANS RAJ HANS: Famous Punjabi singer has been appointed visiting professor of Sufism in the San Jose University of California, USA. NANCY J POWELL: Ambassador of the United States to India who took charge of her office in India.
MAY 2012
SAADAT HASAN MANTO: Veteran short story writer of Indian origin who later migrated to Pakistan after the partition. His 100th birth anniversary falling on 11th May, 1912 is being celebrated with great fervor in both India and Pakistan. Known for his famous story Toba Tek Singh. GIRIRAJ KISHORE: Verteran Writer and Gandhian was in news as he returned his Padma Shri award to protest against the auction of items belonging to Gandhi. A R RAHMAN: Oscar-winning musician has been conferred with his first American Honorary Doctorate by the Miami University, Ohio, USA. It is Rahmans fourth doctorate. He has previously been honoured by Aligarh Muslim University, Anna University and Middlesex University in the UK. SAM PITRODA: Advisor to Indian Prime Minister Manmohan Singh, has been conferred with an honorary degree by New York University's Polytechnic Institute, which is considered among the U.S.' most prestigious and oldest private schools, specialising in engineering and technology. HILLARY CLINTON: US Secretary of State has been named No 1 in the World's 20 Most Powerful Moms list which also
GYANMS GENERAL AWARENESS DECEMBER 2012
APPOINTMENTS
OCTOBER 2012
PRANAY SAHAY, IPS: Director General, Central Reserve Police Force (CRPF) SHUBHALAKSHMI PANSE: Chairperson and Managing Director of Allahabad bank. HUGO CHAVEZ: President of Venezuela (re-elected)
SEPTEMBER 2012
ALTAMAS KABIR: appointed the 39th Chief Justice of India from September 29. RAMESH ABHISHEK: Chairman of commodity markets regulator Forward Markets Commission (FMC). KAUSHIK BASU: Chief economist and Senior Vice-President of the World Bank
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JOSE EDUARDO DOS SANTOS: President of Angola (re elected) HASSAN SHEIKH: President of Somalia
RAHUL KHULLAR: Chairman, Authority of India (TRAI) RATAN KUMAR Commission SINHA:
Telecom
Regulatory Energy
Chairman,
Atomic
AUGUST 2012
SUMIT BOSE: Revenue Secretary, Central Govt RAGHURAM G RAJAN: Chief Economic Advisor to Finance Minister SUSHIL KUMAR SHINDE: Union Home Ministry, Also Leader of the House in Lok Sabha P CHIDAMBARAM: Union Finance Minister JIN-YONG CAI: CEO of International Finance Corporation of the World Bank. (From China)
GOOLAM E. VAHANVATI: Attorney-General (re appointed for two more years) VIDYA BALAN: Ambassador for Total Sanitation Campaign of Govt. of India. FRANCOIS HOLLANDE: President of France, from Socialist party, defeating Nicolas Sarkozy JEAN-MARC AYRAULT: Prime Minister of France. DAVID RICHARDSON: Chief Executive Officer (CEO) of the International Cricket Council TOMISLAV NIKOLIC: President of Serbia
JULY 2012
JAGADISH SHETTAR: Chief Minister of Karnataka JAWAHAR THAKUR: Controller General of Accounts (CGA). HESHAM QANDIL: Prime Minister of Egypt NKOSAZANA DLAMINI-ZUMA: First woman Head of African Union Commission (from South Africa) ENRIQUE PEA NIETO: President of Mexico
APRIL 2012
FIVE NEW GOVERNORS APPOINTED B.V. Wanchoo Dr. Ajij Quershi Ms Margaret Alwa ESL Narasimhan K. Sankar narayanan Goa Uttarakhand Rajasthan Andhra Pradesh Maharashtra
JIM YONG KIM: President, World Bank, he is a KoreanAmerican physician. SALMAN BASHIR: High Commissioner of Pakistan to India. JUSTICE DALVEER BHANDARI: Elected to the International Court of Justice (ICJ).
JUNE 2012
SEKHAR BASU: Director, Bhabha Atomic Research Centre (BARC), Trombay, Mumbai. V.S. SAMPATH: Chief Election Commissioner of India D.K. JOSHI (Vice-Admiral): (w.e.f. Sep. 1) Chief of the Indian Navy
D.K. MEHROTRA: Chairman, LIC of India BUJAR NISHANI: President of Albania ANTONIS SAMARAS: Prime Minister of Greece MOHAMMED MURSI: President of Egypt RAJA PARVEZ ASHRAF: Prime Minister of Pakistan from Pakistan Peoples Party (PPP). FATOU BENSOUDA: Lawyer from Gambia has been sworn in as Chief Prosecutor of the International Criminal Court at Hague, Netherland. ANSHU JAIN: Co-CEO, Deutsche Bank S R RAO: Union Commerce Secretary PRADEEP KHOSLA: Chancellor of the University of California, USA. He is alumni of IIT Kharagpur.
GYANMS GENERAL AWARENESS DECEMBER 2012
Physics
MAY 2012
Peace prize
European Union
46
Economics
advancement of peace and reconciliation, democracy and human rights in Europe. for studies on the match-making that takes place when doctors are coupled up with hospitals; students with schools; and human organs with transplant recipients.
AUGUST 2012
TOP SPORTS AWARDS DECLARED
RAJIV GANDHI KHEL RATNA AWARD - 2012: 1. 2. Shri Vijay Kumar Shri Yogeshwar Dutt Shooting Wrestling
Apart from a medal and a citation, Rajiv Gandhi Khel Ratna Awardees will receive a cash prize of Rs.7.5 lakh each and Arjuna Awardees will receive statuettes, citations and cash prize of Rs.5 lakh each.
STORY OF NOBEL PRIZES The Nobel Prize is an international award of highest level given annually since 1901 for outstanding achievements in six fields - Physics, Chemistry, Medicine, Literature, Economics and Peace the prizes were started by Nobel Academy set up by great Sweedish scientist Alfred Nobel. The prize consists of a medal, a personal diploma, and a prize amount (reduced recently by 20%) of Swedish Kroner 8 million (roughly $ 1.1 million). In 1968, the Sveriges Riksbank (Bank of Sweden) instituted the prize in Economic Sciences in memory of Alfred Nobel, founder of the Nobel Prize. The peace prize is decided by the Parliament of Norway. These awards are announced every year in the month of October.
MAN BOOKER PRIZE FOR FICTION: Hilary Mantel for her book 'Bring up the Bodies'. She made history by becoming the first woman and first British author to become a two-time winner of this prestigious award. SHARMILA TAGORE: Awarded an Honorary Doctorate of Arts by the Edinburgh Napier University for her outstanding contribution to Indian cinema. GOLDEN PEACOCK AWARD: Analjit Singh, Max India founder and Vodafone Chairman, for personal leadership and his contribution to society. 27TH INDIRA GANDHI AWARD FOR NATIONAL INTEGRATION: Gulzar, the noted poet, lyricist and filmmaker "for his yeoman work in promoting and preserving the spirit of National Integration." 11TH ECONOMIST CROSSWORD BOOK AWARD 2012: To Aman Sethi for his book A Free Man
SEPTEMBER 2012
Moorti Devi Award-2010*: Prof. Gopi Chand Narang for the book Urdu ghazal aur Hinduatani jehan-o-tehzib.
Moorti Devi Award-2011*: Dr. Gulab Kothari for his book Main hi Radha, Main hi Krishna.
*This
award is given by Bhartiya Jnanpith Trust for recognising a persons contribution to Indian philosophy and cultural heritage in any language
GOLDEN LION for best film at the 69th Venice Film Festival: Korean film Pieta directed by Kim Ki-duk.
GYANMS GENERAL AWARENESS DECEMBER 2012
DRONACHARYA AWARD (for excellence in coaching) Veerendra Purnia (Athletics) Sunil Dabhan (Kabaddi) Yashweer Singh (Wrestling) Harindra Singh (Hockey) Satyapal Singh (para athletics) Bhavani Mukherjee (Table Tennis) J.N. Bhatia (Athletics Lifetime achievement award) B.I. Fernandez (Boxing)
47
DHYANCHAND AWARD(Lifetime achievement award) Jagrajsinghman (Athletics) Gundeep Kumar (Hockey) Vinod Kumar (Wrestling) Sukhbeer Singh Tokan (para sports) FUKUOKA PRIZE: Vandana Shiva, Indian environmental philosopher and activist. Awarded by Fukuoka city government in Japan on people who contribute to academia, arts, and culture in Asia SITARA-I-IMTIAZ: (Star of Excellence) Professor Gopi Chand Narang, eminent Urdu litterateur from India. It is the third highest civilian honour bestowed by Pakistan MISS WORLD 2012: Wenxia Yu of China, Ordos city in Inner Mongolia, China. NORMAN BORLAUG AWARD in Field Research and Application: Aditi Mukherjee for her work in transforming access to water for thousands of farmers in West Bengal. RAJIV GANDHI MANAV SEVA AWARDS Mr. R Ravi Kumar, Swami Japananda and Mr. N Thungdemo Kikon have been selected for the Rajiv Gandhi Manav Seva Awards for the year 2011 for their contribution in the field of child protection and welfare service to children. The Rajiv Gandhi Manav Seva Award is conferred on three individuals each year who make outstanding contribution in the field of child protection and child development for over ten years. THE 2012 SASTRA RAMANUJAN PRIZE: Professor Zhiwei Yun, USA. The SASTRA Ramanujan Prize was established in 2005 and is awarded annually for outstanding contributions by very young mathematicians to areas influenced by the genius Srinivasa Ramanujan. The age limit for the prize has been set at 32 because Ramanujan achieved so much in his brief life of 32 years
Bengal's
highest
award to
RATAN TATA: Tata Group Chairman, was conferred The Grand Cordon of the Order of the Rising Sun' title at Tokyo by Japan Govt for his contribution in strengthening economic relations between Japan and India. PALME D'OR: Best Film Award at Cannes Film Festival won by Australian film Love
APRIL 2012
TEMPLETON PRIZE: leader Dalai Lama, the Tibetan spiritual
International Indu Sharma Katha Samman2012: Pradeep Saurabh for his Hindi novel Teesri Tali.
JUNE 2012
IIFA 2012 AWARDS: SINGAPORE
Best Actor: Ranbir Kapoor for movie Rockstar Best Actress: Vidya Balan for movie The Dirty Picture Best Film: Zindagi Na Milegi Dobara Best Director: Zoya Akhtar for Zindagi Na Milegi Dobara LIFETIME ACHIEVEMENT AWARD: Ratan Tata, Chairman, Tata Sons has been awarded the prestigious award by Rockefeller Foundation, New York for his innovation in philanthropy. WORLD FOOD PRIZE: Daniel Hillel, Israeli scientist, for his radically innovative way of bringing water to crops in arid and dry-land regions.
MAY 2012
EXCELLENCE IN CINEMA AWARD: Shyam Benegal, veteran filmmaker. The award is conferred by the South Asian Cinema Foundation, London AMBEDKAR WOMEN'S WELFARE AWARD: Suwalka, a social activist from Tonk, Rajasthan
GYANMS GENERAL AWARENESS DECEMBER 2012
Maya
48
End This Depression Now by Paul Krugman Eunuch Park by Palash Krishna Mehrotra, Fierce FocusAutobiography of Greg Chappell Gendering Colonial India by Charu Gupta Great By Choice: by Morten T Hansen Jim Collins Hunger and Public Action by Jean Dreze and Amartya Sen I Am ZlatanAutobiography of Zlatan Ibrahimovics, international football player from Sweeden Iconic Shrines of Kashmir by The Chinar Corps of Indian Army in Kashmir. Imagine by Jonah Lehrer In the Name of Love by Katy Price Indira Nooyi A Biography by Annapoorna Killing Lincoln: Bill OReily and Martin Dugard Lucknow Boy: A Memoir by Vinod Mehta Maharani by Ruskin Bond March of Aryans Bhagwan S Gidwani Mis-measuring Our Lives by Joseph E. Stiglitz, Amartya Sen, Jean-Paul Fitoussi Narcopolice by Jeet Thayil Nirbasan (Exile) by Taslima Nasreen Non Stop India by Mark Tully Of Economics, Policy and Development by (Late)I G Patel: Edited by Deena Khatkhate and Y V Reddy Pakistan on the Brink by Ahmed Rashid Pax Indica by Shashi Tharoor Poor Little Rich Slum by Rashmi Bansal & Deepak Gandhi Poriborton (The Change) a book by Mamta Banerjee, CM of West Bengal Rebirth by Jahnavi Barua Reverse Innovation by Vijay Govindarajan and Chris Trimble Revolution 2020 by Chetan Bhagat River of Somke By Amitabh Ghosh Sachin: Born to Bat by Khalid A H Ansari Sea of Poppies by Amitav Ghosh SEAL Target GeronimoThe Inside Story of the Mission to Kill Osama bin Laden by Chuck Pfarrer Sonia Gandhi: An Extraordinary Life, An Indian Destiny by Rani Singh Steve Jobs: Genius by Design by Jason Quinn Steve Jobs: The Exclusive Biography by Walter Isaacson That used to be US by Thomas Friedman The 3rd Alternative by Stephen R Covey The Affair by Lee Child The Best Quest by Laeeq Futehally The Best Thing About You is You by Anupam Kher The Bridge: The Life and Rise of Barack Obama by David Remnick The Chemistry of Tears by Peter Carey The Coalition of Competitors: The Story of Nasscom and the IT Industry: by Kiran Karnik The Drop: by Michael Connelly The Habit of Winning by Prakash Iyer The High Performance Entrepreneur by Subroto Bagchi The Householder by Amitabha Bagchi The Immortals of Meluha: by Amish Tripathi The Litigatorsby John Grisham The Magic by Rhonda Byrne The Oxford Handbook of the Indian Economy by Chetan Ghate
GYANMS GENERAL AWARENESS DECEMBER 2012
The Rolling Stones: Fifty Years by Christopher Sandford The Second World War by Antony Beevor The Secret by Rhonda Byrne The Secret Letters of the Monk Who Sold His Ferrari: by Robin S Sharma The Selfish Gene by Richard Dawkins The Sense of An Ending: Julian Barnes The Sins Of The Father by Jeffrey Archer The Steve Jobs Way Jay Eliot and William L Simon The TCS story and Beyondby S Ramadorai The Unfinshed Memoirs by Sheikh Mujibur Rehman The Winning Way: Learnings From Sport for Managers by Harsha and Anita Bhogle Tiger Head Snake Tails: Jonathan Fenby Time Guerrilla Memoires of Fidel Castro, great revolutionary and ex President of Cuba. Turning Point A Journey Through Challenges by A P J Abdul Kalam Unusual People Do Things Differently by T G C Prasad Whatever the OddsAutobiography of DLF Chairman K. P. Singh When China Rules The World by Martin Jacques Wit and Wisdom Pickings from the Parsee Punch by Mushirul Hasan
OBITUARY
OCTOBER 2012
YASH CHOPRA: Legendary film producer and director, known as King of Romance. His last film Jab Tak Hai Jaan will be released on Diwali, Nov. 13. SUNIL GANGOPADHYAY: Sahitya Akademi President Noted Bengali littrateur and
JASPAL BHATTI: Popular satirist and film-maker from Punjab, the man behind hit comedy shows like Ulta Pulta and Flop Show. DINESH THAKUR: Renowned theatre and film artist BRAJESH MISHRA: Indias first National Security Adviser and ambassador to UNO. He was the man who supervised the testing and incorporation of nuclear weapons as an integral part of the countrys security strategy. ERIC HOBSBAWM: One of Britain's leading historians and most significant Marxist intellectual of the past half century. PRINCE NORODOM SIHANOUK: Combodia Former king of
SEPTEMBER 2012
DR VERGHESE KURIEN: Architect of the Operation Flood, fondly known as the Milkman of India, father of White Revolution which made India the leading producer of milk in the world, accounting for 17% of total production. He formed Anand Milk Union Ltd (Amul), one of the
49
top Asian brands with a turnover of nearly Rs 13,000 crore. He was also founder of National Dairy Development Board. G. KASTURI: Former Editor of The Hindu and former Managing Director of The Hindu Group. RANGANATH MISRA: The former Chief Justice of India K S SUDARSHAN: Ex chief of Rashtriay Swayamsewak Sangh (RSS) SYED MUSTAFA SIRAJ: Veteran Bengali writer from Kolkata, West Bengal ANIL BORDIA: Eminent educationist, activist and former civil servant from Rajasthan
HIREN BHATTACHARYYA: Celebrated Assamese poet and winner of the Sahitya Akademi Award and several honours DARA SINGH: Noted wrestler-turned film actor BIKRAM KESHARI ROY BURMAN: Anthropologist from West Bengal Noted scholar and
STEPHEN R. COVEY: Author of the bestselling motivational books like "The 7 Habits of Highly Effective People," First Things First,the 8th Habit: From Effectiveness to Greatness, the leader in me, The Speed of Trust. YITZHAK SHAMIR: Famous leader and two times Prime Minister of Israel JOAN DUNLOP: A global leader in addressing womens issues, from USA
AUGUST 2012
AVTAR KISHAN HANGAL: Veteran actor, popularly known as A.K. Hangal and best remembered for his role as Rahim Chacha in the iconic film Sholay. NEIL ARMSTRONG: The legendary US astronaut who, in 1969, became the first man to set foot on the moon. MELES ZENAWI: Prime Minister of Ethopia TONY SCOTT: Prominent Hollywood film director (68), whose signature works included Top Gun, was in news as he jumped to his death from a bridge in San Pedro, California, USA. VILASRAO DESHMUKH: Union Minister for Science and Technology and Earth Sciences and ex-Chief Minister of Maharashtra. ASHOK MEHTA: Noted cinematographer of Hindi movies
JUNE 2012
MEHDI HASSAN: India-born legendary ghazal maestro from Karachi (Pakistan) DIPANKAR MUKHERJEE: Renowned trade union leader NORA EPHRON: Noted film Director & Writer from New York ACHALA SACHDEV: Veteran Hindi films actress GAJANAN Rajasthan VERMA: Eminent poet and lyricist from
MAY 2012
CARROLL SHELBY: Veteran race car driver and automobile manufacturer from USA, who created the best known US sports cars of the 1960s the AC Cobra and the Shelby Mustang. CARLOS FUENTES: Noted novelist from Mexico DONNA SUMMER: Legendary pop singer from USA
JULY 2012
RAJESH KHANNA: The charismatic suoer star of Indian cinema LAKSHMI SAHGAL Freedom fighter and a close associate of Netaji Subhas Chandra Bose in his Indian National Army MRINAL GORE: Veteran socialist, known for her dauntless activism on the issues of price rise, water rights and womens empowerment. Prof. P N DHAR: An eminent economist who served as Principal Secretary to Prime Minister Indira Gandhi in the 1970s P.M. RUNGTA: Former President of Board of Control for Cricket in India
PLACES IN NEWS
OCTOBER 2012
MINBYAR TOWNSHIP: A town near Sittwe in border
state of Rakhine, Myanmar was in news due to violent clashes there between Rohingya Muslims and ethnic Rakhine Buddhists.
50
NEW YORK: The city and areas around it were lashed by the devastating hurricane Sandy causing widespread damage.
JULY/JUNE 2012
KOKRAJHAR
District and town in Assam was in news due to violent clashes between local Bodo community and immigrant Bangladeshis, claiming over 40 lives.
SEPTEMBER 2012
GHOGALGAON:
A small village in Khandwa district of Madhya Pradesh was in news as scores of villagers launched a jal satyagraha there by standing in neck deep waters of Narmada river for 17days, demanding reduction in the water level of Omkareshwar dam to 189 metres from the current 190.5 metres. Ultimately, State govt acceded to their demands.
TIPAIMUKH
Multipurpose mega hydel project on the river Barack in Manipur was in news as it has led to a dispute between India and Bangladesh over sharing of water rights. It has also not gone down well with the people of Manipur who will have to be relocated because of the dam reservoir.
RAKHINE
State in western Myanmar witnessed widespread violent clashes between Buddhist and Muslim communities forcing some ninety thousand Muslims to flee from their homes.
LAGOS
Commercial capital of Nigeria was the site of a plane crash killing over 153 people when a passenger plane crashed into a residential building shortly after takeoff from Lagos.
HOULA
The grisly massacre at in a cluster of villages at Houla in Syria's Homs province led to worldwide condemnation of the Syrian government. The incident involved killing of over 100 people, including dozens of children and women.
MAY 2012
KODUMANAL: A village in Erode district of Tamil Nadu
was in news due to discovery of a variety of artefacts from four trenches in the habitational mound which revealed an industrial complex that existed around fourth century BCE. Dr. B.R. Ambedkar Pranahita-Chevella Sujala Sravanthi project: A hydel project across Pranahita River, which is a major tributary of Godavari River, being established jointly by Andhra Pradesh and Maharashtra. The major benefit of increased irrigation from this project will go to Andhra Pradesh.
AUGUST 2012
MANESAR: Industrial town near Gurgaon, Haryana, was
in news due to violent protests, arson by workers of Maruti Udyog Ltd, causing widespread damage to its car plant. It also lead to the death of one of their General Manger and seriously injured several other senior managers. KAMRA: Pakistan Air Forces Minhas Base station near Islamabad was in news as it was attacked by terrorists.
SPORTS WORLD
OCTOBER 2012
Saina Nehwal beats Juliane Schenk of Germany to win the Denmark Open Super Series Premier Trophy (badminton) at Odense, Denmark. Pankaj Advani won his seventh World Billiards title when he outclassed defending champion Mike Russell in the finals at Leeds in UK Sachin Tendulkar: has been honoured by the Australian government with the membership of the Order of Australia, an honour rarely awarded to nonAustralians. Anil Kumble: Former Indian cricket captain appointed chairman of ICC's Cricket Committee.
51
Saina Nehwal: The London Olympics bronze medallist in badminton was in news as she flew in a Kiran aircraft of the Indian Air Force from an airbase near Hyderabad. Babita Kumari: She is the third Indian woman wrestler to grab a medal at any International Wrestling meet when she clinched a bronze in World Wrestling Championship held at Edmonton, Canada. First Indian women to win an international medal in wrestling was Alka Tomar and second, Geeta Phogat, elder sister of Babita. West Indies won the ICC T-20 Cricket World Cup captained by Darren Sammy, after defeating host Sri Lanka at Colombo, Sri Lanka. Marlon Samuels of West Indies was declared Man of the Match. Australia beats England to lift ICC T-20 Cricket World Cup for women at Colombo, Sri Lanka. East Zone lifts Duleep Trophy (cricket) defeating Central Zone at Chennai. East Bengal won the Federation Cup (Football) beating the Dempo SC at Siliguri, West Bengal.
MATTHEW HAYDEN: Former Australia Test opener has decided to retire from all forms of cricket. MAHESH BHUPATHI AND ROHAN BOPANNA have been banned by the All India Tennis Association (AITA) from representing India in international events till the end of June 2014. India beats New Zealand in the Davis Cup Asia-Oceania group I in tennis at Chandigarh.
India beats Cameroon to win Nehru Cup of Football at New Delhi. The ICC Men's World Twenty20 Tournament starts in Sri Lanka.
The ICC Women's World Twenty20 Tournament starts in Galle, Sri Lanka. ANDY MURRAY of UK won US open tennis grand slam defeating defending champion Novak Djokovic of Serbia. SERENA WILLIAMS of USA captured her 15th Grand Slam title and fourth career US Open Tennis crown at Flushing Meadows, New York, by beating World No 1 Victoria Azarenka of Belarus. TIGER WOODS: Became the first golfer to make more than $100 million in earnings on the PGA Tour in USA.
Rest of India beat Rajasthan to lift Irani Cup 2012(of cricket) at Bangalore. Team India B beat India A to win the N.K.P. Salve Challenger Trophy of cricket at Rajkot, Gujarat. The 28th National junior athletics championships held at Lucknow, UP. Sebastian Vettel: The German Champion of Red Bull team recorded a stupendous victory in the Indian Grand Prix for the second successive year, at the Buddh International Circuit, Noida, UP. Michael Schumacher: Legendary F-1 champion (43) from Germany, arguably the most successful driver in Formula One car races (91 wins), announced his retirement from the sports. Tony Greig: Former England captain was in news as he has been diagnosed with lung cancer.
AUGUST 2012
HIGHLIGHTS OF LONDON OLYMPICS2012
MICHAEL PHELPS STAR OF ALL TIMES
Michael Phelps of USA became the greatest swimmer of all time and the most decorated Olympian of all times when he won a record 22nd Olympic medal at the London Games. His tally includes 18 gold and two silver and bronzes each; he won in 2004, 2008 and 2012 Olympics. He also became the sports man to win highest numbers of medals in London Olympics, winning four gold and two silver medals.
USAIN BOLT:
SEPTEMBER 2012
GIRISHA WINS SILVER IN PARALYMPICS
H N Girisha of Karnataka gave India its first medal at the London Paralympic Games after bagging silver in the Men's High Jump event. Girisha with impairment in his left leg, sailed over a height of 1.74m using scissors technique.
Charismatic sprinter from Jamaica succeeded in wining gold in both 100m and 200m races at London Olympics. He is the first man to win both these races at two Olympics. MOHAMMED "MO" FARAH: international track and field athlete. 10,000 m and 5000 m race. Somali-born British He won gold in both
Ye Shiwen: Chinese swimmer. She won gold medals in the 400 metres (world record) and 200 meters (olympic record). David Rudisha: Medium distance runner from Kenya. He is the only person in world to have broken the 1 minute 41 second barrier for 800 mt race by clocking a time of 1:40:91 seconds at London Olympics.
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IAF TEAM CREATES WORLD RECORD IN SWIMMING An Indian Air Force, IAF swimming team has created a record by successfully crossing the English Channel between the United Kingdom and France twice within a fortnight. The marvelous feat makes Delphinus the first team in the world to have crossed the Channel twice in the same year and that too in the first tide which is considered the toughest. Led by their Skipper Mithali Raj, Indian women defeated England to win their first cricket ODI in London. The National youth athletics championship held at Bangalore was won by Kerala. Spain lifted the prestigious Euro Cup in Football, defeating Italy at the finals played at Kiev, Ukraine. Fernando Torres of Spain won the Golden Boot Award for the top scorer in the Euro Cup. Andres Iniesta of Spain was named Player of the Tournament of Euro Cup by the Union of European Football Associations (UEFA) Kim Clijsters of Belgium, veteran tennis player announced her retirement from the tennis after playing in US Open. RAFAEL NADAL: Defending Olympic tennis champion from Spain has decided to pull out of the London Summer Olympics 2012, with an undisclosed fitness problem. WLADIMIR KLITSCHKO, boxing champion from Ukraine defeated Tony Thompson of USA to win WBA, IBF and WBO heavyweight boxing title belts at Berne, Switzerland. Roger Federer of Switzerland defeated Andy Murray of Britain to win a record-equalling seventh Wimbledon title and 17th grand slam crown at London, UK. Serena Williams of USA won the womens Wimbledon defeating Agnieszka Radwanskw of Poland at London, UK. Mark Webber of Australia with his Red Bull team won the British Grand Prix F-1 championship beating Fernando Alonso (Spain) of Ferrari. MARK BOUCHER: South African wicketkeeper has retired from international cricket after suffering a severe eye injury during his countrys tour match against Somerset. BRETT LEE: One of the most fearsome pace bowlers in modern era from Australia has announced his retirement from international cricket.
The 2012 Para Olympic Games started in London on August 29 and will conclude on September 9. Over 4200 contestants from 166 countries will take part in games.
JULY 2012
Shooter Gagan Narang won the first medal for India in London Olympics when he clinched bronze in the 10 metre air rifle event with an overall score of 701.1. M C Mary Kom: Five-time boxing world champion has become the first Indian woman and the fifth sportsperson overall to hold an honorary rank in the country's defence forces as she will be made a Lieutenant Colonel in the Territorial Army.
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JUNE 2012
SAINA NEHWAL lifted the Thailand Open Grand Prix badminton gold title beating Thailands Ratchanok Inthanon in Bangkok. Saina Nehwal won the Indonesia Open Super Series title after beating China's Xuerui Li in Jakarta, Indonesia. Sachin Tendulkar was presented the Wisden India Outstanding Achievement Award at Dubai for completing a century of 100 international hundreds. Tendulkar had achieved the milestone while playing against Bangladesh in the Asia Cup in March. Harmeet Desai defeated Belgian Cedric Nuytin to win the gold medal in the Under-21 men's final of the Brazil Open Table Tennis in Santos, Brazil becoming the first Indian to achieve such a feat. Indu Chaudhary and Sakshi Malik won the gold medals in the 44kg and 63kg weight categories in the Asian Junior Wrestling Championship at Almaty, Kazakhstan Sania Mirza and Mahesh Bhupathi of India won their second Grand Slam title and first French Open trophy together after crushing Klaudia Jans-Ignacik and Santiago Gonzalez in the mixed doubles final of French Open at Paris. Chhattisgarh clinched both the boys and girls titles in the 63rd National junior basketball championship held at Puducherry. Indian women team won the gold in kabaddi by defeating Thailand in the third Asian Beach Games held in Haiyang (China). National Inter-State Senior Athletics Championships held at Hyderabad. Russia's Maria Sharapova became the 10th woman in tennis history to win all four Grand Slam titles on June 9 when she defeated Sara Errani of Italy in the French Open final (women) at Paris. Spains Rafael Nadal clinched a record seventh French Open tennis title defeating world number one Novak Djokovic of Serbia at Paris. New Zealand beat Argentina in the Sultan Azlan Shah Cup men's hockey at Ipoh, Malaysia LASITH MALINGA: The International Cricket Council has chosen Sri Lanka's star pacer as the official Event Ambassador for the World Twenty20 Championships to be held in Sri Lanka from 18th Sep, 2012. KEVIN PIETERSEN: Former England skipper has announced his retirement from international limited overs cricket(ODI and T-20).
Deepika Kumari won her first World Cup individual Archery (recurve) gold medal at Antalya, Turkey. World Chess Title: Between defending champion Vishwanathan Anand and Israeli challenger Boris Gelfand. Wenlock & Mendeville: names of mascots of London Olympics Inspire a Generation is the official slogan for the London Olympics. The official Olympic motto is taken from the Latin "Citius, Altius, Fortius" - which means "Faster, higher, stronger. David Richardson has been named new chief executive officer (CEO) of the International Cricket Council World Snooker Championship won by Ronnie O'Sullivan (UK) beating Alister Carter (UK) at Sheffield, England.
APRIL 2012
5th edition of IPL started at Chennai at MA Chidambaram Stadium on April 4th. Shiv Thapa, the 17-year-old boxer from Assam is the youngest Indian boxer in the bantam weight (56kg) to participate in London Olympics. Aditya Mehta wins Asian Snooker Championship defeating Pankaj Advani at Panaji, Goa Pankaj Advani won the 11th ONGC Asian Billiards Championship title held at Panaji, Goa, after defeating Thawat Sujaritthurakarn of Thailand.
ABBREVIATIONS
AYUSH AERB AICTE APDRP Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy Atomic Energy Regulatory Board All-India Council for Technical Education Accelerated Power Development and Reform Programme (meant for improving commercial viability of electricity power distribution). Adsia-Pacific Economic Cooperation A forum for 21 Pacific Rim countries (styled "member economies) that seeks to promote free trade and economic cooperation. The Association of Southeast Asian Nations Group of Brazil, South Africa, India and China for the purpose of safeguarding their interests under Kyoto protocol Banking Industry Country Risk Assessment Compounded Annual Growth Rate Council for Advancement of People's Action and Rural Technology Confidence-Building Measures Crime and Criminal Tracking Network and Systems Committee for Internet-Related Policies (at UNO). Central Public Sector Units Convention on Supplemental Compensation (for international nuclear liability) Defence Avionics and Research Establishment Duty Drawback Scheme for exporters (in place of DEPB)
APEC
ASEAN BASIC
MAY 2012
Viswanathan Anand: Indian Grandmaster beat challenger Boris Gelfand of Israel to win the World Championship crown at Moscow for the fifth time and fourth in a row. Services have won this year's Santosh Trophy (Football) defeating Chennai at Cuttack, Odisha. China lifted both, Thomas Cup for Mens Badminton and Uber Cup for Womens Badminton, defeating South Koreans in both the events at Wuhan, China Kolkata Knight Riders thrashed the defending champions Chennai Super Kings to win IPL title at the MA Chidambaram stadium, Chennai. WIM KOEVERMANS, former Dutch international footballer appointed as the chief coach of the Indian football team for a two-year term. Grandmaster Parimarjan Negi won the Asian continental chess championship held at Ho Chi Minh City, Vietnam.
GYANMS GENERAL AWARENESS DECEMBER 2012
BIKRA CAGR CAPART CBMs CCTNS CIRP CPSU CSC DARE DDS
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DEPB DGCA DRDO EAS EPFO ETC FIEO FINO FMCG GSLV IAEA ICDS IDFC IIFCL IOR-ARC
IUCN MCOCA MICE NADA NCDEX NCTC NELP NSSF NPCIL NSSF NSSO PSLV PTCT RFID RISAT RINL RKVY SAARC SAFTA SAI SFIO TDSAT TRIPS TUFS UDRS UNHCR UNRWA USB VLSI
Duty Entitlement Pass Book for exporters (since withdrawn) Directorate General of Civil Aviation Defence Research and Development Org. East Asia Summit Employees' Provident Fund Organisation Electronic Toll Collection (at toll plaza) Federation of Indian Export Organisations Financial Inclusion & Network Organisation Fast Moving Consumer Goods Geosynchronous Satellite Launch Vehicle International Atomic Energy Agency Integrated Child Development Service Infrastructure Development Finance Company India Infrastructure Finance Company Ltd. Indian Ocean Rim Association for Regional Cooperation A group of 18 nations forming a ring around Indian Ocean to promote trade and economic cooperation among members. International Union for Conservation of Nature Maharashtra Control of Organised Crime Act Business referring to Meetings, Incentives, Conferences and Exhibitions National Anti Doping Agency National Commodities and Derivatives Exchange National Counter-Terrorism Centre New Exploration Licensing Policy (oil & natural gas) National Small Savings Fund Nuclear Power Corporation of India Limited National Small Savings Fund National Sample Survey Organisation Polar Satellite Launch Vehicle Parent to Child-Transmission (of HIV) Radio Frequency Identification Radar Imaging Satellite Rashtriya Ispat Nigam Ltd Rashtriya Krishi Vikas Yojna South Asian Association for Regional Cooperation South Asian Free Trade Agreement Sports Authority of India Serious Fraud Investigation Office Telecom Disputes Settlement & Appellate Tribunal. (Agreement on) Trade-Related Aspects of Technology Upgradation Fund Scheme (for textiles)
ET CETRA
EYE CONTROLLED TV
A prototype of an eye-controlled television that uses a sensor placed on a table in front of the user to track the eye movements has been unveiled in Berlin. Users control the set by staring at the top or bottom of the screen to activate a user-interface. The users can then change the volume, switch channel or carry out other functions by looking at icons shown on the display.
A new type of Ninja style aircraft that spins 90 degrees in air for efficient faster-than-sound flight and virtually zero sonic boom has been selected by NASA for further development. The plane is created in a way that will allow it to take off from the ground, and then turn on its side once it reaches supersonic atmospheric levels so that it can continue its flight into the uppermost parts of space.
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