STHANIYA LOKADHIKAR SAMITI MAHASANGH

RBI - SSC Assistant Exam - BANKING AWARENESS AND CURRENT AFFAIRS

GENERAL AWARENESS CAPSULE FOR RBI SSC Assistant Exam.
BANKING AWARENESS CAPSULE
RBI
Current
Reserve
Ratios
1 Bank
8.25%
and
Policy Rates
Rate
2 Repo
7.25%
Rate
3 Reverse 6.25%
Repo
4 CRR
4%
Rate
5 SLR
21.5%
6 MSF
8.25%

The Structure of Indian Banking

The structure of the Indian banking system can be
categorized in two ways.
The first divides the banks into three categories:
the Reserve Bank of India, commercial banks and
cooperative banks. The second divides the banks
into two categories: scheduled banks and nonscheduled banks. In both of these systems of
categorization, the Reserve Bank of India, or RBI, is
at the center of the banking structure. It holds the
reserve capital of all commercial and scheduled
banks in the country.
Scheduled Banks
The eligibility criteria exist for scheduled banks:
a) The first of which entails carrying on the
business of banking in India.
b) All scheduled banks must maintain a reserve
capital of 5 lakhs rupees in the Reserve Bank of
India.
c) These are registered under the second schedule
of RBI Act, 1934.
Commericial Banks vs. Cooperative Banks
Scheduled banks in India fall into two categories:
commercial banks and cooperative banks.
Commercial banks constitute those banks driven by
profit. These banks exist for no other reason than
generating capital. Cooperative banks technically
constitute cooperative institutions with an elected
managing committee, provisions for the protection
of members' rights and a set of communally
developed and approved by laws and amendments

RBI AND ITS ROLES

RBI is the central Bank of India and controls the
entire money issue, circulation the entire money
issue, circulation and control by its monetary
policies and lending policies by periodical updates
or corrections to discipline the economy. It is also
known as the bank of last resort.
Establishment: The reserve bank of India was
established on April 1, 1935 in accordance with the
provisions of the Reserve Bank of India Act, 1934.
The Central Office of the Reserve Bank of India was
initially established in Calcutta but was permanently
moved to Mumbai in 1937. Though originally
privately owned, since nationalization in 1949, the
Reserve Bank is fully owned by the Government of
India.
Main Functions
1) Monetary Authority: Formulate, implements
and monitors the monetary policy.
2) Regulator and supervisor of the financial
system: Prescribes broad parameters of banking
operations within which the countrys banking and
financial system functions.
3) Manager of Foreign Exchange: Manages the
Foreign Exchange Management Act, 1999.
4) Issuer of Currency: Issues and exchanges or
destroys currency and coins not fit for circulations.
5) Development role: Performs a wide range of
promotional functions to support national objectives.
6) Bankers to the Government: performs
merchant banking function for the central and the
state governments; also acts as their banker.
Bankers to banks: maintains banking accounts of
all scheduled banks.

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Cheque
It is an instrument in writing containing
an
unconditional order, addressed to a banker, sign by
the person who has deposited money with the
banker, requiring him to pay on demand a certain
sum of money only to or to the order of certain
person or to the bearer of instrument."
Types of Cheque
1. Bearer Cheque or open Cheque
When the words "or bearer" appearing on the face
of the cheque are not cancelled, the cheque is
called a bearer cheque. The bearer cheque is
payable to the person specified therein or to any
other else who presents it to the bank for payment.
2. Order Cheque
When the word "bearer" appearing on the face of a
cheque is cancelled and when in its place the word
"or order" is written on the face of the cheque, the
cheque is called an order cheque. Such a cheque is
payable to the person specified therein as the payee,
or to any one else to whom it is endorsed
(transferred).

Terms in reference to
BANKING Repo Rate
Repo rate is the rate of interest which is levied on
Short-Term loans taken by commercial banks
from RBI. Whenever the banks have any shortage
of funds they can borrow it from RBI. A
reduction in the repo rate will help banks to get
money at a cheaper rate. When the repo rate
increases, borrowing from RBI becomes more
expensive.
Reverse Repo Rate
This is exact opposite of Repo rate. Reverse repo rate is
the rate at which commercial banks CHARGE on
their surplus funds with RBI. RBI uses this tool when it
feels there is too much money floating in the banking
system. Banks are always happy to keep money with
RBI since their money is in the safe hands with a good
interest. An increase in Reverse repo rate can cause the
banks to transfer more funds to RBI due to these
attractive interest rates.
CRR Rate
Cash reserve Ratio (CRR) is the amount of cash
funds that the banks have to maintain with RBI. If
RBI decides to increase the percent of this, the
available amount with the banks comes down. RBI is
using this method (increase of CRR rate), to drain
out the excessive money from the banks.

3. Crossed Cheque
Crossing of cheque means drawing two parallel lines
on the face of the cheque with or without additional
words like "& CO." or "Account Payee" or "Not
Negotiable". A crossed cheque cannot be encashed
at the cash counter of a bank but it can only be
credited to the payee's account.

SLR Rate
SLR (Statutory Liquidity Ratio) is the amount a
commercial bank needs to maintain in the form of
cash, or gold or government approved securities
(Bonds) before providing credit to its customers.
SLR is determined and maintained by the RBI in
order to control the expansion of bank credit. SLR is
determined as the percentage of total demand and
time liabilities. Time Liabilities are the liabilities a
commercial bank is liable to pay to the customers
after a specific time period. SLR is used to control
inflation and proper growth. Through SLR tuning,
the money supply in the system can be controlled
efficiently.

4. Ante-Dated Cheque
If a cheque bears a date earlier than the date on
which it is presented to the bank, it is called as
"ante-dated cheque". Such a cheque is valid upto 3
months from the date of the cheque.
5. Post-Dated Cheque
If a cheque bears a date which is yet to come
(future date) then it is known as post-dated
cheque. A post dated cheque cannot be honoured
earlier than the date on the cheque.
6. Stale Cheque
If a cheque is presented for payment after 3
months from the date of the cheque it is called stale
cheque. A stale cheque is not honoured by the
bank.

Bank Rate
Bank rate is the rate of interest which is levied on Long
Term loans and Advances taken by commercial banks
from RBI. Changes in the bank rate are often used by
central banks to control the money supply.

7. A self cheque
A self cheque is written by the account holder as
pay self to receive the money in the physical form
from the branch where he holds his account.
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MSF Rate:-MSF (Marginal Standing Facility Rate) is

the rate at which banks can borrow overnight
from RBI. This was introduced in the monetary
policy of RBI for the year 2011-2012. Banks can
borrow funds through MSF when there is a
considerable shortfall of liquidity. This measure has
been introduced by RBI to regulate short-term asset
liability mismatches more effectively.
Base Rate:-The Base Rate is the minimum interest
rate of a Bank below which it cannot lend, except
for DRI advances, loans to bank's own employees
and loan to banks' depositors against their own
deposits. (i.e. cases allowed by RBI).
Bridge Loan:A loan made by a bank for a short period to make up
for a temporary shortage of cash. Bridge loan covers
this period between the buying the new and disposing
of the old one.

Special Drawing Rights (SDRs):-It is a reserve

asset (known as Paper Gold) created within the
framework of the International Monetary Fund in
an attempt to increase international liquidity, and
now forming a part of countries official forex
reserves along with gold, reserve positions in the
IMF and convertible foreign currencies.
ATM: ATMs are Automatic Teller Machines,
which do the job of a teller in a bank through
Computer Network. ATMs are located on the
branch premises or off branch premises. ATMs are
useful to dispense cash, receive cash, accept
cheques, give balances in the accounts and also
give mini-statements to the customers.
Bouncing of a cheque: Where an account does
not have sufficient balance to honour the cheque
issued by the customer, the cheque is returned by
the bank with the reason "funds insufficient" or
"Exceeds arrangement". This is known as
'Bouncing of a cheque'.

Credit Authorization Scheme:-Credit

Authorization Scheme was introduced in November,
1965 when P C Bhattacharya was the chairman of RBI.
Under this instrument of credit regulation RBI as per
the guideline authorizes the banks to advance loans to
desired sectors

Demat Account:
The term "demat", in India, refers to a
dematerialised account for individual Indian
citizens to trade in listed stocks or debentures.
Endorsement: When a Negotiable Instrument
contains, on the back of the instrument an
endorsement, signed by the holder or payee of an
order instrument, transferring the title to the other
person, it is called endorsement.

Credit Authorization Scheme:-Credit

Authorization Scheme was introduced in November,
1965 when P C Bhattacharya was the chairman of RBI.
Under this instrument of credit regulation RBI as per
the guideline authorizes the banks to advance loans to
desired sectors

Merchant Banking : When a bank provides to a

customer various types of financial services
like accepting bills arising out of trade, arranging
and providing underwriting, new issues, providing
advice, information or assistance on starting new
business, acquisitions, mergers and foreign
exchange.

Open Market Operations:-An open market

operation is an instrument of monetary policy which
involves buying or selling of government securities
from or to the public and banks.
Moral Suasion:-Moral Suasion is just as a request
by the RBI to the commercial banks to take so
and so action and measures in so and so trend of
the economy. RBI may request commercial banks
not to give loans for unproductive purpose which
does not add to economic growth but increases
inflation.

Money Laundering The process of creating the

appearance that large amounts of money obtained
from serious crimes, such as drug trafficking or
terrorist activity, originated from a legitimate source.
Mortgage: Transfer of an interest in specific
immovable property for the purpose of offering a
security for taking a loan or advance from
another. It may be existing or future debt or
performance of an agreement which may create
monetary obligation for the transferor (mortgagor).

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NABARD: National Bank for Agriculture & Rural

Development was setup in 1982 under the Act of
1981. NABARD finances and regulates rural financing
and also is responsible for development agriculture
and rural industries. NABARD is an apex
Development Bank that facilitates credit flow for
promotion and development of agriculture, smallscale industries, cottage and village industries,
handicrafts and other rural crafts.
GAAR: The full form of GAAR is : General AntiAvoidance Rules. Tax Avoidance is an area of
concern across the world. The rules are framed in
different countries to minimize such avoidance of tax.
It is a set of general rules enacted so as to check the
tax avoidance.
BPLR: In banking parlance, the BPLR means the
Benchmark Prime Lending Rate. However, with the
introduction of Base Rate (explained below), BPLR
has now lost its importance and is made applicable
normally only on the loans which have been
sanctioned before the introduction of Base Rate (i.e.
July 2010).
Prime Lending Rate (PLR): The rate at which
banks lend to their best (prime) customers. It is
usually less than normal interest rate.
Wholesale Banking: Wholesale banking is different
from Retail Banking as its focus is on providing for
financial needs of industry and institutional clients.
National Electronic Funds Transfer System
(NEFT): RBI introduced an electronic funds transfer
system to facilitate an efficient, secure,
economical, reliable and expeditious system of funds
transfer and clearing in the banking sector throughout
India, and to relieve the stress on the existing paperbased funds transfer and clearing system called National
Electronic Funds Transfer System (NEFT System).
Money Market - The money market is a wholesale
debt market for low-risk, highly-liquid, short-term
instrument. Funds are available in this market for
periods ranging from a single day up to a year. This
market is dominated mostly by government, banks
and financial institutions.
Capital Market - The capital market is designed
to finance the long-term investments. The
transactions taking place in this market will be
for periods over a year.

RTGS: RTGS is an acronym that stands for Real

Time Gross Settlement. RTGS is a funds transfer
system where money is moved from one bank
to another in real-time, and on gross basis. When
using the banking method, RTGS is the fastest
possible way to transfer money. Real-time means
that the payment transaction isnt subject to any
waiting period. The transaction will be completed
as soon as the processing is done, and gross
settlement means that the money transfer is
completed on a one to one basis without clustering
with another transaction. This system is maintained
by the RBI, and is available during working days
for a given number of hours. Banks using RTGS
need to have Core banking to be able to initiate
RTGS transactions.
Forex Market - The Forex market deals with the
multicurrency requirements, which are met by the
exchange of currencies. Depending on the
exchange rate that is applicable, the transfer of
funds takes place in this market
Financial Inclusion: Financial inclusion or
inclusive financing is the delivery of financial
services, at affordable costs, to sections of
disadvantaged and low income segments of
society.
Headquarters of NATIONALIZED BANKS
Allahabad Bank Kolkata
Bank of India Mumbai
Bank of Maharashtra Pune
Canara Bank Bangalore
Central Bank of India Mumbai
Corporation Bank Mangalore
Dena Bank Mumbai
Indian Bank Chennai
Indian Overseas Bank Chennai
Oriental Bank of Commerce New Delhi
Punjab National Bank New Delhi
Punjab & Sind Bank New Delhi
State Bank of India Mumbai
Syndicate Bank Manipal
UCO Bank Kolkata
Union Bank of India Mumbai
United Bank of India Kolkata
Vijaya Bank Bangalore
Andhra Bank Hyderabad
Bank of Baroda Vadodra

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BANKING ABBREVIATIONS
1. PSBs: PUBLIC SECTOR
BANKS
2. SNBCs: SCHEDULE NON COMMERCIAL BANKS
3. SENSEX: SENSITIVE INDEX OF STOCK
EXCHANGE
4. GNP: GROSS NATIONAL PRODUCT
5. KYC:
KNOW
YOUR
CUSTOMER
6. RTGS: REAL TIME GROSS SETTLEMENT
7. NEFT:
NATIONAL
ELECTRONIC
MONEY
TRANSFER
8. EFT: ELECTRONIC FUND TRANSFER
9. CBS: CORE BANKING SOLUTIONS
10. LIBOR: LONDON INTERBANK OFFERED RATE
11. MIBOR: MUMBAI INTERBANK OFFERED RATE
12. MIBID: MUMBAI INTERBANK BID RATE
13. SARFAESI:
SECURITISATION
AND RECONSTRUCTION OF FINANCIAL ASSETS
AND ENFORCEMENT OF SECURITY INTEREST
14. CAMELS: CAPITAL ADEQUECY RATIO, ASSET
QUALITY, MANAGEMENT OF EFFECTIVENESS,
EARNING OF PROFITABILITY, LIQUIDITY,
SYSTEM AND CONTROLS
15. CAR: CAPITAL ADEQUECY RATIO
16. FIIs: FOREIGN INSTITUTIONAL INVESTMENTS
17. FDI: FOREIGN DIRECT INVESTMENT
18. IPO: INITIAL PUBLIC OFFERING
19. MICR: MAGNETIC INK CHARACTER READER
20. BIRD:
BANKERS
INSTITUTE
OF
RURALDEVELOPMENT
21. IBA: INDIAN BANK ASSOCIATION
22. BPLR: BENCHMARK PRIME LENDING RATE
23. ICICI:
INDUSTRIAL
CREDIT
AND
INVESTMENT CORPORATION OF INDIA
24. HDFC:
HOUSING
DEVELOPMENT
FINANCECORPORATION
25. IRDA:
INSURANCE
REGULATORY
ANDDEVELOPMENT AUTHORITY
26. SWOT:
STRENGETH,
WEEKNESSES, OPPORTUNITIES AND THREATS
27. SWIFT:
SOCIETY
FOR
WORLDWIDE
INTERBANK FINANCIAL TELECOMMUNICATION
28. FERA: FOREIGN EXCHANGE REGULATORY ACT
29. FEMA: FOREIGN EXCHANGE MANAGEMENT
ACT
30. CASA: CURRENT AND SAVING ACCOUNT
31. NDTL: NET DEMAND & TIME LIABILITIES
32. NASDAQ:
NATIONAL
ASSOCIATION
FOR SECURITIES
DEALERS
AUTOMATED
QUOTATIONS
33. CIBIL: CREDIT INFORMATION BUREAU OF
INDIA LIMITED
34. NAV: NET ASSET VALUE
35. ICRA: INDIAN CREDIT RATING AGENCY

CURRENT AFFAIRS
CAPSULE FINANCIAL &
BANKING NEWS

RBI approves the merger of Kotak MahindraING Vysya.

Bharti AXA General Insurance launched Smart

Traveller.

Dena Bank on 6 April 2015 signed a

Memorandum of Understanding (MoU) with Life
Insurance Corporation (LIC) of India to provide
insurance cover to all Aadhaar-linked savings
account holders of the bank in the age group of
18 to 50 years.

PM Narendra Modi launched the Rs 20,000 cr

Micro Units Development Refinance Agency
(MUDRA) Bank and said , the aim of the bank
is to fund the unfunded small entrepreneurs
and to strengthen savings habit in the country.

IFCI Ltd has now become a state- owned firm

with the government increasing its stake in the
infrastructure financing firm to 51.04 per cent.
The Reserve Bank notified government's
decision to raise foreign direct investment (FDI)
limit in the insurance sector to 49 per cent
from the present 26 percent.
IndusInd Bank entered into an agreement to
acquire Royal Bank of Scotland's Diamond &
Jewellery Financing business in India and
related deposit portfolio.
ICICI Bank in collaboration with Tech
Mahindra launched a payment service Tap-nPay based on the near-field communications
(NFC) technology, enabling customers make
over-the-counter payments without using
cash.
Bharatiya Mahila Bank Ltd has entered into
MoUs with New India Assurance Company Ltd
and Life Insurance Corporation of India to
provide insurance cover to its accountholders.
RBI has modulated PSL norms which stipulate
that banks operating in India must offer 40%
of all loans to farmers, small entrepreneurs
and so-called weaker sections of society.
Bank of India has partnered with insurance
companies New India Assurance Co and Star
Union Dai-ichi Life Insurance to roll out the
governments
social
security
insurance
schemes.

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Bank of Baroda, a leading Indian public sector

bank, has tied up with UAE Exchange to
offer an instant cash transfer facility to NRI
customers.
Bharatiya Mahila Bank (BMB) has won The
Asian Banker Achievement Award 2015.
The government has raised the limit of foreign
direct investment in pension sector to 49 per
cent in line with the FDI cap in the insurance
sector.
Corporation Bank and New India Assurance
Company Ltd signed a memorandum of
understanding
(MoU)
for
implementing
Pradhan Mantri Suraksha Bima Yojana
[PMSBY], central government`s scheme to
provide security against personal accidental
risk and permanent or partial disability.
Insurance Australia Group (IAG) has decided to
increase its stake in State Bank of Indias
general insurance arm to 49 per cent from 26
per cent.
IndusInd Bank has agreed to buy Royal Bank
of Scotlands diamond and jewellery financing
business in India.
Country's second largest private sector lender
HDFC Bank launched '30-min auto' and '15-min
2- wheeler' loan schemes, for which customers
have to provide only their biometric details.
Private insurer Bajaj Allianz has launched a
weather-based crop insurance scheme for orange
crops in Nagpur, Hingoli and Washim districts
of Maharashtra.
Government is likely to infuse additional USD
1.8 billion (about Rs 11,500 crore) in public
sector banks this fiscal.
HDFC Securities, a subsidiary of HDFC BankBSE
0.23 % has launched its mobile trading app in
11 different regional languages.
The Reserve Bank of India (RBI) has extended
the date to exchange pre-2005 bank notes till
December 31, 2015 for third time.
Export-Import (Exim) Bank has extended a line
of credit of $268.35 million to Tanzania for
financing extension of Lake Victoria pipeline.
The Reserve Bank of India (RBI) issued the
final guidelines for the 6-year and 13-year cash
settled Interest Rate Futures (IRF) on
government securities with residual maturity of
4-8 years and 11-15 years respectively under
the Interest Rate Futures.

To help investors and companies in IPOs, SEBI

halved the listing time to six days from the date
of the public offer and also allowed a larger
number of firms to tap the fasttrack
route for raising funds.
India Brand Equity Foundation (IBEF) in the
third week of June 2015 released a report on
Intellectual Property Rights (IPRs) filing in India
during 2013-14. While Maharashtra topped the
list of states and Union Territories (UTs),
Bengaluru was the top city in IPR filing.
Odisha State Co-op Bank launches Bank on
Wheels.
The stock of Kaveri Seed Company will see
some buying interest as the Reserve Bank of
India said foreign portfolio investors could now
invest up to 49 per cent of the companys
equity base.
Bills for postpaid mobile service, piped gas and
water supply can now be submitted as proof of
address for opening account with banks or
other financial institutions.
Service tax increased to 14%.
RBI lowers repo rate to 7.25 per cent.
Non-repatriable investments by NRIs, OCIs and
PIOs will be treated as domestic investments
and will not be subject to foreign direct
investment caps.
EPFO to invest 5% of funds in equity market.
The Reserve Bank of India (RBI) has permitted
banks to take control of 51 percent of stake
in a company that has failed to recover
financial health even after a period of financial
restructuring, typically due to management
inefficiency or other factors.
ICICI Bank Appoints MK Sharma As NonExecutive Chairman.
The Reserve Bank of India (RBI) said that
Indian corporates, eligible to raise external
commercial borrowings (ECBs), are permitted
to issue rupee- linked bonds overseas.
Reserve Bank of Indian has allowed nonresident Indians (NRIs) to invest in chit fund
to encourage flow of capital into the country.
The Insurance Regulatory and Development
Authority of India (IRDAI) has imposed a
penalty of 50 lakh on Future Generali Life
Insurance Company.
State Bank of India (SBI), the countrys
largest bank, has launched SBI eforex, an
Internet-based
platform
that
enables
customers to book their foreign exchange
transactions online.

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Canara Bank has entered into a memorandum

of
understanding
with
Life
Insurance
Corporation of India for offering the Pradhan
Mantri Jeevan Jyoti Bima Yojanainsurance
cover to all its eligible customers.
An extremely simplified income tax return
form will soon replace the controversial 14page ITR that sought information like all bank
accounts and foreign trip details.As it stands,
the new ITR forms, including the ITR-1 and
ITR-2, require an assessee to furnish the
number of bank accounts held by the
individual.
MoneyGram Ready to Handle Electronic-Mode
Remittances in India.
The RBI put in place a new framework to
check loan fraud including by way of early
warning signals at banks and red flagging of
accounts, while swindlers will have no access
to further banking finance.
The Centre's new appointment norms for public
sector bank chiefs capping the age at 55
years and mandatory three-year board level
experience has come under judicial scrutiny
with the Supreme Court.
Axis Bank, the country's third largest private
sector bank now facilitates instant transfer of
money on various social media channels like
Whatsapp, Facebook, Twitter, Email list and
phone contact list.
Aiming to attract overseas funds, government
decided that non-repatriable investments by
NRIs, OCIs and PIOs will be treated as
domestic investments and will not be subject to
foreign direct investment caps.
The country's largest bank announced a
partnership with digital payments firm, PayPal
so that the Customers of State Bank of India
(SBI) can now use their debit cards on PayPal
for buying products from overseas websites.
Markets regulator SEBI simplified norms for
domestic mutual funds to manage offshore
pooled assets, dropping its "20-25 rule" which
requires a minimum of 20 investors and a cap
of 25 percent on investment by an individual,
for funds from low- risk foreign investors.
IDBI Bank has decided to roll out e-huts to
connect with the rural populace.
State-run lender Bank of India tied up with
MasterCard to launch three new cards and also
two new banking solutions for its card holders.

KV Kamath appointed BRICS bank president.

State Bank of India joined its private sector
rivals to launch contactless cards using latest
near field technology (NFC).
In a move that will promote 'tap and pay'
electronic payments, the Reserve Bank of India
(RBI) said that bank can allow customers to
transact with contactless card upto Rs 2000
without customers punching a separate PIN for
authentication.
Arun Shrivastava assumed charge as Managing
Director & CEO of Syndicate Bank.
Top private sector lender ICICI Bank opened
its first branch in China, which was
inaugurated by Prime Minister Narendra Modi.
HDFC Bank has launched 'HDFC Bank Apollo
Medical Benefits Card'.
As part of Make in India, Finance Minister
Arun Jaitely inaugurates Indigenous New Bank
Note printing lines at Security Paper Mill in
Hoshangabad.
ICICI Launches Voice Password Facility for
Phone Banking.
State-run Corporation Bank cut base rate or
minimum lending rate by 0.25 percentage point
to 10 per cent, a move which will lead to lower
EMIs for its customers.
Micro Units Development Refinance Agency
(MUDRA) Bank has partnered with 19 state
and regional level coordinators to reach those
small entrepreneurs who are often cut off from
the banking system because of a limited
branch presence.

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Important Committees in News:

1. Bibek Debroy Committee on restructuring of
Indian Railways.
2. The government has set up a high level panel,
headed by former Home Secretary Anil Baijal to
suggest a framework to assess CSR activities
done by corporates under the companies law.
3. Union Finance Ministry constituted High Level
Committee to
interact
with
trade
and
industry to give recommendations to the Central
Board of Direct Taxes (CBDT) and the Central
Board of Excise and Customs (CBEC) for
issuance of appropriate clarifications by way of
circulars, on tax-related issues on a regular
basis. The high level committee will be headed
by former Chief Economic Advisor (CEA) Ashok
Lahiri.
4. TSR Subramaniam Committee: to review the
processes, laws and Acts of the Ministry of
Environment, Forests and Climate Change
5. Pratyush
Sinha
committee:
to
assess
compensation for coal blocks.
6. The former Union Minister Jairam Ramesh
designated as the head of Future Earth
Engagement Committee, a global research
platform panel on sustainable development.
7. T.K. Vishwanathan committee: to provide
Bankruptcy code for small
and
medium
enterprises (SMEs).
8. Justice Prabha Sridevan committee: to function
as a think-tank to help draft a new National
Intellectual Property Rights Policy (National IPR
Policy)
9. K.V. Kamath panel: to examine the financial
architecture for Micro, Small and Medium
Enterprises (MSME) sector.
10. Gopalakrishna Committee: on Capacity Building
in Banks and non-Banks
11. G N Bajpai Committee: to review the
investment guidelines for national pension
system (NPS) schemes in private sector.
12. Scientist Raghunath Anant Mashelkar panel: to
recommend best technologies for Prime
Minister Narendra Modi's "Swachh Bharat"
national sanitation campaign.
13. T S R Subramanian Committee: to review five
key green laws concerning protection and
conservation of environment, forest, wildlife,
water and air among others.
14. H R Khan Committee: to examine the unclaimed amount in PPF, Post Office and Savings
Schemes.
15. H Devaraj Committee: reported that most
of the deemed universities are not fit for being
a university.

16. Sivaramakrishnan Committee: to suggest the

place to build the capital city of Andhra Prades
17. Former RBI Governor Bimal Jalan to head the
Expenditure Management Commission. The
purpose of setting up the commission is to
cut-off the spending and review government
expenditure to get maximum output.
18. Justice
CS
Dharmadhikari
Committee:
recommended complete ban on dance bars in
hotels and restaurants.
19. R. Ramanujam Committee - to review, identify
and recommend amendment in obsolete laws
to further smoothen and simplify the
governance.

STHANIYA LOKADHIKADR SAMITI MAHASANGH

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New Appointment in India

1. Gulshan Rai takes charge as Indias first cyber
security chief.
2. K.N. Tripathi sworn in as Governor of Mizoram.
3. Mayilsamy Annadurai appointed as Director of
ISRO Satellite Centre (ISAC).
4. President Pranab Mukherjee has appointed the
senior-most Election Commissioner, Dr Nasim
Zaidi, as the next Chief Election Commissioner
(CEC).
5. Sumit Mazumder, Chairman & Managing Director,
TIL Limited, has been elected as the President
of CII for the year 2015-16. He succeeds Mr Ajay
Shriram as the new President.
6. Arun Kumar Jha was appointed as Chief
Executive Officer of Khadi and Village Industries
Commission (KVIC), Mumbai.
7. Meenakshi Madan Rai sworn in as the first lady
judge of the Sikkim High Court. Her oath of
the office was administered by the Governor
Srinivas Patil at Ashirwad Hall at Raj Bhavan in
Gangtok.
8. Senior diplomat Mohan Kumar, currently India's
top envoy to Bahrain, has been appointed the
next Ambassador to France to succeed Arun
Kumar.
9. IDFC appoints former CAG Vinod Rai
as
independent director.
10. Rahul Agarwal is Lenovo India MD
11. Ericsson appoints Paolo Colella as new head of
region India.
12. State Bank of India (SBI) announced the
appointment of Anshula Kant as its chief financial
officer (CFO). Kant has been designated as the
deputy managing director and CFO of the bank,
SBI said in a filing on BSE.
13. Beno Zephine becomes first 100% blind officer in
IFS.
14. Senior IPS officer Archana Ramasundaram has
been moved out of the CBI and appointed as
Director, National Crime Records Bureau
(NCRB).
15. LIC Nomura Mutual Fund CEO Nilesh Sathe
appointed member, life at IRDAI.
16. New chairman of Engineers India Ltd - Sanjay
Gupta . He replaced A K Purwaha.
17. K.Sivan becomes the new VSSC chief replacing
M.S. Dathan.
18. General Lalit Bhanot was elected vice-President
of the Asian Athletics Association (AAA).
19. Jyoti Prasad Rajkhowa sworn-in as Arunachal
Pradesh Governor.
20. Ravi Shastri to continue as Indian team director.

21. Ex-IB chief Asif Ibrahim was the PMs Special

Envoy
on
Countering
Terrorism
and
Extremism, with a charter to liaise with
governments in West Asia, Af- Pak and South
East Asia.
22. Infosys Limited appoints R. Seshasayee as
Non- Executive Chairman of the Board.
23. S Christopher appointed as Secretary,
Department of Defence Research and
Development-cum- Director General, Defence
Research and Development Organisation
(DRDO).
24. K.V. Chowdary appointed as new Central
Vigilance Commissioner.
25. Vijai Sharma appointed as Chief Information
Commissioner.
26. Yes Bank reappoints Rana Kapoor as MD.
27. Government extends Bank of Baroda interim
chief Ranjan Dhawan's term for 3 months.
28. R C Tayal appointed as new Director
General of National Security Guard.
29. Dr. Srivari Chandrasekhar was appointed
Director of CSIR-Indian Institute of Chemical
Technology (IICT) a premier research institute
of Union Government based in Hyderabad,
Telangana.
30. Shri Ameising Luikham, IAS took over as
Secretary, Department of Public Enterprises in
the M/o Heavy Industries & Public Enterprises.
31. Achal Kumar Jyoti, a former Gujarat Chief
Secretary, was appointed as the Election
Commissioner.
32. President Pranab Mukherjee has appointed
Justice Cyriac Joseph as acting Chairman of
National Human Rights Commission (NHRC).
33. Sanjay Gupta today took over as chairman and
managing director of Engineers India Ltd.
34. Power Secretary Pradeep Kumar Sinha was
appointed as the next Cabinet Secretary of the
government.

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New Appointment in World

1. Muhammadu Buhari claims victory in Nigeria's
presidential elections.
2. Pedro Cateriano Bellido appointed as Prime
Minister of Peru.
3. The East China Normal University (ECNU), one of
the prestigious universities in China, announced
the appointment of Dr. Vishal Sikka, Chief
Executive Officer of Infosys, as Advisory
Professor.
4. Indian-American Vivek Murthy was sworn-in as
the US Surgeon General. He succeeded Boris D.
Lushniak.
5. Chennai-born Raja Rajeswari has been sworn-in
as a criminal court judge in New York by Mayor
Bill de Blasio.
6. Nikesh Arora appointed SoftBank President.
7. Afghan President Ashraf Ghani nominated a
female judge to the Supreme Court in an
unprecedented move that has angered some
Islamic conservatives.
8. Finance Minister Nhlanhla Nene announced that
former Reserve Bank governor Tito Mboweni has
been appointed as the non-executive director to
the board the Brics New Development Bank
(NDB).
9. UN elected Denmark's Mogens Lykketoft to head
General Assembly.
10. Prince Harry was made a Knight Commander of
the Royal Victorian Order.
11. Deutsche Bank appointed John Cryan as its new
CEO.
12. Indian-origin Tory MP Priti Patel has been
appointed minister of state for employment in
British Prime Minister David Cameron's new
cabinet.
IMPORTANT FINANCIAL SCHEMES
1) Pradhan Mantri Jeevan Jyoti Bima Yojana
Highlights of the Pradhan Mantri Jeevan Jyoti Bima
Yojana (PMJJBY Scheme 2 for Life Insurance)
are:
Eligibility:
and 50 years.

Savings Bank (SB) Account

holders between 18 years (completed)

Premium: Rs. 330 (per annum).

Payment Mode: The premium will be directly
auto- debited by the bank from the subscribers
savings bank account. This is the only mode
available currently.
Risk Coverage: Sum Assured of Rs. 2 Lakh on
death of the Insured member for any reason is
payable to the Nominee.
Termination of assurance:
Account holder attains age of 55 years
Closure of account with the Bank or insufficiency of
balance for debiting premium.
In case of multiple coverage under the scheme, the
cover will be restricted to Rs.2 lakhs and other
insurance covers are terminated and premium shall
be forfeited.
2) Pradhan Mantri Suraksha Bima Yojana
Highlights of the Pradhan Mantri Suraksha Bima
Yojana (PMSBY Scheme 1 for Accidental Death
Insurance) are:
Eligibility: The savings bank account holders of
the participating Bank between 18 years
(completed) and 70 years (age nearer birthday)
who give their consent to join / enable auto-debit,
as per the modality, will be enrolled into the
scheme.
Policy period: The cover shall be for one year
period starting from 1st June 2015 to 31st May
2016 for which option to join / pay by auto-debit
from the designated savings bank account on the
prescribed forms will be required to be given by
31st May 2015 - extendable up to 31st August,
2015.
Premium: Rs. 12/- + service tax (per
annum).
Payment Mode: The premium will be directly
auto- debited by the bank from the subscribers
account. This is the only mode available.
Risk Coverage: Total coverage (sum-insured)
under the scheme is Rs. 2 Lakh.

Policy period: The cover shall be for one year period

starting from June 1, 2015 to May 31, 2016 for which
option to join / pay by auto-debit from the designated
savings bank account on the prescribed forms will be
required to be given by May 31, 2015, extendable up to
August 31, 2015.
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2) Pradhan Mantri Suraksha Bima Yojana

Highlights of the Pradhan Mantri Suraksha Bima
Yojana (PMSBY Scheme 1 for Accidental Death
Insurance) are:
Eligibility: The savings bank account holders of the
participating Bank between 18 years (completed)
and 70 years (age nearer birthday) who give their
consent to join / enable auto-debit, as per the
modality, will be enrolled into the scheme.
Policy period: The cover shall be for one year
period starting from 1st June 2015 to 31st May 2016
for which option to join / pay by auto-debit from the
designated savings bank account on the prescribed
forms will be required to be given by 31st May 2015
- extendable up to 31st August, 2015.
Premium: Rs. 12/- + service tax (per annum).
Payment Mode: The premium will be directly autodebited by the bank from the subscribers account.
This is the only mode available.
Risk Coverage: Total coverage (sum-insured)
under the scheme is Rs. 2 Lakh.
3) BRIEF OF ATAL PENSION YOJANA

The GoI has announced a new scheme called

Atal Pension Yojana (APY)1 in 2015-16 budget.
The APY is focussed on all citizens in the
unorganized sector.
The scheme is administered by the Pension Fund
Regulatory and Development Authority (PFRDA)
through NPS architecture.
HIGHLIGHTS OF ATAL PENSION YOJANA

Under the APY, there is guaranteed minimum

monthly pension for the subscribers ranging
between Rs. 1000 and Rs. 5000 per month.

The benefit of minimum pension would be

guaranteed by the GoI.

GoI will also co-contribute 50% of the

subscribers contribution or Rs. 1000 per
annum, whichever is lower. Government cocontribution is available for those who are not
covered by any Statutory Social Security
Schemes and is not income tax payer.

GoI will co-contribute to each eligible

subscriber, for a period of 5 years who joins
the scheme between the period 1st June, 2015
to 31st December, 2015. The benefit of five
years of government Co-contribution under
APY would not exceed 5 years for all
subscribers including migrated Swavalamban
beneficiaries.

All bank account holders may join APY.

FINANCIAL SCHEMES
Jan Dhan Yohana Yojana
Aim - scheme to promote financial
inclusion: Prime Minister Narendra Modi
launched 'Pradhan Mantri Jan Dhan Yojana'
to help the poor open bank accounts.
The slogan for the Pradhan Mantri Jan
Dhan mission is Mera Khata Bhagya
Vidhaata. Benefits :
i. Every individual who opens a bank
account will become eligible to receive an
accident insurance cover of up-to Rs. 1
Lakh.
ii. HDFC Ergo General Insurance will provide
the accident cover under the scheme.
iii. An additional Rs. 30,000 life insurance
cover will be provided for those opening
bank accounts before January 26,2015.
iv. LIC (Life Insurance Corporation) will
provide the life insurance cover of Rs
30,000 under the scheme
v. Rs 5,000 overdraft facility for Aadharlinked accounts, Ru Pay Debit Card with and
minimum monthly remuneration of Rs 5,000
to business correspondents who will provide
the last link between the account holders
and the bank.

STHANIYA LOKADHIKADR SAMITI MAHASANGH

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Awards & Honours

1. Indian-origin nurse Subadhra Devi Rai named
for 2015 International Achievement Award.
2. Amitabh Bachchan honoured by Egypt's
Academy of Arts.
3. Delhi International Airport Limited (DIAL) has
bagged the prestigious Golden Peacock National
Quality Award for the year 2015.
4. An Indian origin school boy Pratap Singh, 15, in
the UK has been chosen for a prestigious prize
for the Institute of Physics (IOP) Prize, that
carries 500 pounds sterling and a trip to a
national physics- related activity.
5. Uttar Pradesh Government conferred Sahitya
Shiromani Samman on noted Hindi poet
Gopaldas Neeraj and veteran Hindi litterateur
Uday Pratap Singh.
6. Seoul city, the capital and largest metropolis of
South Korea was awarded the title of Global
Earth hour Capital 2015 after it won the Earth
Hour City Challenge (EHCC) of World Wildlife
Fund (WWF).
7. US President Barack Obama honoured
Microsoft's Indian-origin CEO Satya Nadella with
the 'Champions of Change' award for bringing
about change within his company to support
working families.
8. NRI industrialists Hinduja brothers S P
Hinduja and G P Hinduja have won the
Business Leader of the Year 2015 award at the
prestigious 5th Asian Awards for their
outstanding achievement in the field of business.
9. Bollywood actor Shah Rukh Khan was honoured
with the Dadasaheb Phalke Film Foundation
Award 2015 for his performance in the movie
Happy New Year. Actor Rajkummar Rao won the
prestigious award for his performance in the
critically acclaimed film Citylights.
10. PM Modi awarded the 50th Jnanpith Award to
eminent Marathi litterateur Bhalchandra Nemade
whose several books, including Kosala and
Hindu, have influenced Indian writing.
11. Bollywood actor Anil Kapoor conferred with
prestigious Master Deenanath Mangeshkar
Award 2015.
12. Indian Space Research Organisation (ISRO) has
been selected for the Gandhi Peace Prize for
2014 for its contribution to the countrys
development through space technology and
satellite-based services.
13. President
Pranab
Mukharjee
conferred
Punyabhushan Award on Prataprao Pawar,
Chairman of Sakal Media Group (SMG) at
Balgandharva Auditorium in Pune.

14. Vocalist Sanjay Subrahmanyam selected for

Sangita Kalanidhi award 2015.
15. Atal Behari Vajpayee honoured with Bangladesh
Liberation War Award.
16. Edward Snowden awarded freedom of
expression prize in Norway
17. Isro Bags Space Pioneer Award for Mangalyaan
Mars Orbiter Mission.
18. Indian-Origin Surgeon General Vivek Murthy
Presented With Pride of Community Award
19. Dr. Pramod Patil and Dr. Ananda Kumar
won 2015 Whitley Awards for wildlife
conservation.
20. Ace marksman Jitu Rai was declared the
Sportsperson of the Year' at the Times of India
Sports Awards.
21. Indian film Masaan has won the prestigious
critics prize in the Un Certain Regard category at
the 68th Cannes Film Festival.
22. Two Indian peacekeepers have been chosen
posthumously
for
United
Nations
Dag
Hammarskjold Medal. They are Lance Naik Nand
Ram and Raju Joseph
23. Hungarian writer Laszlo Krasznahorkai won
Britain's Man Booker International Prize for
career achievement.
Awards
IIFA 2015 Winner
Best Actor
Shahid Kapoor for Haider
Best Actress
Kangna Ranaut for Queen
Best Director
Rajkumar Hirani for PK
Best Movie
Queen
Awards
Best Actor
Best Actress
Best Director
Best Feature Fim
Best Feature Film
in Hindi
Dada
Saheb
Phalke Award

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62nd
National
Film
Awards
Sanchari Vijay for Nanu
Avanalla Avalu
Kangna Ranaut for Queen
Srijit Mukherji
Queen
Court
Shashi Kapoor

1.
2.
3.
4.

Padma Vibhushan

LK Advani- Public Affairs- Gujarat

Amitabh Bachchan- Art- Maharashtra
Prakash Singh Badal- Public Affairs- Punjab
Prof Malur Ramaswamy Srinivasan- Science
and Engineering- Tamil Nadu
5. Kottayan K. Venugopal- Public Affairs- Delhi
TOURNAMENTS IN BRIEF
Miami Open 2015 Winners Mens Singles
Title
World No. 1 and Serbian ace tennis player Novak
Djokovic has won the 2015 Miami Open Mens
Singles Title.

BNP Paribas Open

i.
Men's Singles - Novak Djokovic defeated
Roger Federer
ii.
Women's Singles - Simona Halep defeated
Jelena Jankovic
iii.
Men's doubles - Vasek Pospisil/Jack Sock
defeated Simone Bolelli/Fabio Fognini
iv.
Women's doubles - Martina Hingis / Sania
Mirza defeated Russia Ekaterina Makarova / Russia
Elena Vesnina.
CRICKET WORLD CUP 2015
Australia defeated Newzealand in the finals of
the cricket world cup 2015 by 7 wickets.
The finals were played at the Melbourne cricket
ground.
Australia defeated India and Newzealand
defeated South Africa respectively in the Semi
finals of the world cup.
Most Runs Martin Guptill (New Zealand) 547
runs.
Most wickets Mitchell Starc (Australia) 22
wickets and Trent Boult (Newzealand) 22
wickets.
Man of the tournament Mitchell Starc
(Australia)
Man of the finals James Faulkner (Australia)

Womens singles Title

World No. 1 and American ace tennis player Serena
Williams has won the 2015 Miami Open Womens
singles Title.
Mens doubles Title
American Bob Bryan and Mike Bryan pair has won
the 2015 Miami Open Mens doubles Title.
Womens doubles Title
Indias Sania Mirza and Switzerlands Martina Hingis
pair has won 2015 Miami Open Womens doubles
Title.
Rome Masters 2015: Winners
Women's Singles - Maria
Sharapova Men's Singles - N.
Djokovic
Women's Doubles - Timea Babos and Kristina
Mladenovic
Men's Doubles - P. Cuevas and D. Marrero
French Open
Men's Single - Winner = Stan
Wawrinka (Switzerland), Runner Up =
Novak Djokovic (Serbia) Women's Single Winner = Serena Williams (USA), Runner Up =
Lucie afov (Czech Republic)
Australian Open
Men's Single - Winner = Novak Djokovic (Serbia),
Runner Up = Andy Murray (UK)
Women's Single - Winner = Serena Williams
(USA), Runner Up = Maria Sharapova (Russia)

GAMES VENUES
ICC World Cup Cricket Venue: ODI: (One day
International):
1. Australia & New Zealand: 2015.
2. England - 2019
3. India 2023
T20:
1. India -2016
2. Australia 2020 Test:
1. England 2017 (for first time).
2. India - 2021
FIFA (Football) World Cup
venue:
1. 2018 : Russia
2. 2022: Qatar
Commonwealth Games venues:
1. 2014 Glasgow (Scotland).
2. 2018 Gold Coast
(Australia).
Olympics
Games venues:
1. 2014 winter: Sochi (Russia) Russia tops in
the medal tally in 2014 winter Olympic games.
2. 2016 Summer: Rio de Janeiro (Brazil)
3. 2018 winter: Pyeongchang (South Korea)
4. 2020 summer: Tokyo (Japan)

STHANIYA LOKADHIKADR SAMITI MAHASANGH

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Days
1. World Heritage Day was observed across the
world on 18 April 2015.
2. World Haemophilia Day was observed globally
on
17 April 2015 with theme Building a family of
support.
3. International Mother Earth Day was observed
globally on 22 April 2015 with the theme Its
our turn to lead.
4. National Panchayati Raj Day was observed
across India on 24 April 2015
5. World Malaria Day (WMD) was observed on 25
April 2015. The theme for the 2013-2015
campaign is Invest in the Future. Defeat Malaria.
6. 14th June: World Blood Donor Day
7. Kerala Government declares June 22 as Snake
Bird Day.
8. India set for World Yoga Day on 21 June 2015.
9. World Press Freedom Day is annually observed
on May 3 to inform the international community
that freedom of the press and freedom of
expression are fundamental human rights.
10. Russia celebrates victory day on 9th May.
11. Every year, `National Technology Day is
observed across India on May 11.
12. The United Nations (UN) observed
the
International Day for Biological Diversity (IBD)
on 22 May 2015. The theme was Biodiversity for
Sustainable Development.
STATIC GK CAPSULE
United Nations Headquarters
International Organizations
UNO (United Nations Org)
UNICEF
UNCTAD (United
Nations Conference on
Trade & Development)
WHO (World Health Org)
ILO (International Labour Org)
WMO (World Meteorological Org)
World Intellectual Property Org
International Standards Org.
IMF (International
Monetary Fund)
World Bank
UNESCO (United Nations
Educational Scientific
and Cultural Org)
OECD (Org. for
Economic Cooperation
and Dev.)

Headquarters
New York
New York
Geneva

Geneva
Geneva
Geneva
Geneva
Geneva
Washington DC
Washington DC
Paris

UNIDO (United
Nations Industrial
Dev. (International
Org)
IAEA

Vienna

Atom

ic Energy Agency) of
OPEC(Organization
Petroleum Exporting Countries)
Amnesty International
Commonwealth of Nations
IM(International
Maritime Organization)
ICJ (International Court
of Justice)
FAO(Food and
Agricultural
Organization)Atlantic
NATO(North
Treaty Organization)
Transparency International
SAARC(South Asian
Association for Regional
Coop.) (Association of
ASEAN
South East Asian Nations)
APEC (Asia Pacific
Economic Forum)
Organization of
Islamic Cooperation

Vienna
Vienna
London
London
London
The Hague
Rome
Brussels
Berlin
Kathmandu
Jakarta
Singapore
Jeddah

Important Organizations:
United
Nation
(UN)

is
an
intergovernmental organization established
on 24 October 1945 to promote international
co-operation. Headquarter New York , Head
Ban ki-moon Member - South Sudan new
member country . Total 193 members
WTO (World Trade Org.) Yemen new
member country. Total 160 members.
Headquarter Geneva, Switzerland, Head Roberto Azevdo
World Bank - The World Bank is a United
Nations international financial institution that
provides loans to developing countries for capital
programs.
Headquarter - Washington D.C. (United States)
President Jim Yong Kim
Member - South Sudan new member country.
Total 188 members

Paris

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 IMF The International Monetary Fund (IMF) is

an international organization that was initiated in
1944 at the Bretton Woods Conference and
formally created in 1945 by 29 member countries.
Headquarter Washington DC . (United States)
President Christine Lagarde
Member - South Sudan new member country.
Total 188 members

OPEC (Organization of the Petroleum

Exporting Countries) is an international
organization and economic cartel whose mission is
to coordinate the policies of the oil-producing
countries.
Headquarter Vienna, Austria , Member - 12
member countries.
President - Diezani Alison-Madueke

European Union Croatia new member

country. Total 28 member countries.
Headquarter Brussels, Belgium
President of the European Commission:
J
ean- Claude Juncker

NATO
(North
Atlantic
treaty
Organization): NATOs essential purpose is to
safeguard the freedom and security of its members
through political and military means.
Headquarter Brussels, Belgium Member 28
Member Countries.

Eurozone - The growth of the eurozone is an

ongoing process within the European Union (EU). All
Member states of the European Union, except for
Denmark and the United Kingdom are obliged to
adopt the euro as their sole currency once they
meet the criteria.
Member The eurozone currently comprise 19 EU
states.
Note: i). Latvia becomes the 18th Member State to
adopt the euro on 1 January 2014.
ii. Lithuania has been approved for euro adoption on
1 January 2015.

SAARC (South Asian Association of

Regional Co-Operation):
is
an economic and geopolitical organization
of eight c
Headquarter Kathmandu, Nepal 8 Member
Countries.
Secretary-General: Arjun Bahadur Thapa.

ASEAN - Association of Southeast Asian Nations

is a political and economic organisation of ten
countries located in Southeast Asia, which was
formed on 8 August 1967.
Headquarter Jakarta, Indonesia Member - 10 member
countries (India is not the member of ASEAN)
APEC Asia Pacific Economic Cooperation
is a forum for 21 Pacific Rim member economies that
seeks to promote free trade and economic
cooperation throughout the Asia-Pacific region. It
was established in 1989
Headquarter Singapore Member 21
ICJ (International Court of Justice): is the
primary judicial branch of the United Nations. It is
based in the Peace Palace in The Hague,
Netherlands. Its main functions are to settle legal
disputes submitted to it by states and to provide
advisory opinions on legal questions submitted to it
by duly authorized international branches, agencies,
and the UN General Assembly.
Headquarter The Hague, Netherlands.

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