GA- 1 September 4 weeks ago 19 Comments 5085 view(s) GA- 1 September 1.

RBI names SBI,

ICICI as systemically important The Reserve Bank of India (RBI) on Monday designated Indias top
two banks by assets State Bank of India (SBI) and ICICI Bank Ltd. as Domestic Systemically
Important Banks (D-SIBs). Systemically important banks are perceived as banks that are Too Big To
Fail (TBTF). This perception of TBTF creates an expectation of government support for these banks
at the time of distress. Due to this perception, these banks enjoy certain advantages in the funding
markets. The D-SIB framework requires the Reserve Bank to disclose the names of banks designated
as D-SIBs every year in August starting from August 2015.In July 2014, the RBI had said four to six
domestic lenders would be labelled systemically important and it created a framework to safeguard
the interests of public. According to the RBI, while SBI will have to set aside 0.6 per cent of the loan
as capital buffer, ICICI Bank will have to keep 0.2 per cent of loan as capital buffer. This means that if
SBI and ICICI Bank were each setting aside Rs 1 earlier, they will now have to set aside Rs 1.60 and
Rs 1.20, respectively. Banks will be plotted into four different buckets and will be required to have
additional Common Equity Tier 1 (CET1) capital requirement ranging from 0.2 per cent to 0.8 per cent
of risk weighted assets, depending upon the bucket they are plotted into. The RBI also said that a
foreign bank designated as a Global Systemically Important Bank (G-SIB) and having branch
presence in India, will have to maintain additional CET1 capital surcharge in India as applicable to it
as a G-SIB, proportionate to its Risk Weighted Assets (RWAs) in India. 2. Infrastructure sector growth
slows to 1.1% in July Infrastructure sector growth slowed to 3-month low of 1.1% in July as output of
crude oil, natural gas and steel contracted. According to the data released by the Commerce and
Industry Ministry on Monday, output of crude oil, natural gas and steel contracted by 0.4%, 4.4% and
2.6% respectively in July this year. Growth in output of coal, cement and electricity slowed to 0.3%,
1.3% and 3.5% respectively last month. However, refinery products and fertiliser production grew by
2.9% and 8.6% respectively. In March and April this year, the eight sectors had contracted by 0.1%
and 0.4% respectively. However, in May and June the infrastructure sector had expanded by 4.4%
and 3%. These numbers come on the back of a strong performance in the Index of Industrial
Production (IIP) in June. The IIP for June was at 3.78 per cent, up from 2.5 per cent in May. This
improvement was mostly driven by manufacturing, which grew 4.6 per cent in June. However, the
poor showing in July of the eight core industries in total could imply July IIP coming in lower than the
June figures. The eight core industries comprise a weightage of nearly 38 per cent in the IIP. The
overall growth of eight core industries in the entire 2014-15 fiscal stood at 3.5% against 4.2% in the
previous fiscal. 3. April- June quarter GDP Growth Gross domestic product (GDP) grew 7% during
April-June slower than the previous quarters 7.5% expansion amid worrying symptoms of weak
investment and consumer spending. The Gross Value Added (GVA), a new concept introduced by
CSO to measure the economic activity, also slipped during the first quarter to 7.1 percent, from 7.4
percent a year ago. The nominal GDP and GVA at current market price showed a steep decline in the
quarter under review. The nominal GDP slipped to 8.8 percent in Q1 from 13.4 percent a year ago
while the GVA growth rate nearly halved to 7.1 percent from 14 percent a year ago. Manufacturing
sector grew at 7.2% during the first quarter of 2015-16, slower than the 8.4% expansion in the
previous quarter as also in April-June last year. Agriculture grew 1.9% during the June quarter. Trade,
hotel, transport and communication was the only sector to grow in double digits at 12.8%. The jobgenerating construction sector grew 6.9% while financial services grew 8.9% during the quarter. The
electricity sector was a major drag on the growth numbers as power generation decelerated to 3.2%
in the June quarter. Investment demand in the economy as represented by gross fixed capital
formation (GFCF) showed some signs of recovery, with GFCF picking up to grow 4.8% in the June
quarter against 4.1% in the March quarter. 4. Zero Accident Mission The Railways is going to launch a
zero-accident mission envisaging renewal of tracks, more railway bridges, better signalling and rolling
out of accident-proof coaches and engines. The plan has come amid an increase in number of railway
accidents in recent months. Railwyas Minister, Mr Suresh Prabhu said that train accidents, delay of
trains and deterioration of service, which is seen today, all are happening because of the
underinvestment in the past. The zero-accident mission is an expensive proposition, but that is the
only way to have safe travel. The Ministry has planned an investment of Rs 8.5 lakh crore in the next
five years. Funds will come through fares and freights and also Railways is planning to prudentially

borrow from institutions such as the LIC, the World Bank and other multilateral agencies, which would
be repaid in the next 30-40 years through an increase in revenues. Reformed accounting system- It
will not just be a commercial accounting system but beyond that, going from budgeting to
outcomes. Note: Commercial accounting was one of the key recommendations of the Bibek Debroy
panel on railway restructuring. Information technology (IT) platform to take care of operations and A
Management Information System. 5. Rajiv Mehrishi, New Home Secretary Outgoing Finance
Secretary Rajiv Mehrishi, who was due to retire on Monday, was appointed Union Home Secretary,
replacing L C Goyal who had completed only around seven months of a fixed tenure of two years at
the job. Meanwhile, Mehrishi, a 1978-batch Rajasthan cadre officer who was serving as Secretary of
the Department of Economic Affairs under the Finance Ministry, has become the third Home Secretary
appointed by the Central government in 15 months. Ratan Watal will be the new Finance Secretary in
place of Rajiv Mehrishi. 6. Raghav Chandra as new NHAI Chief Former Additional Secretary and
financial advisor to the department of agriculture and cooperation, Raghav Chandra assumed charge
as Chairman, National Highways Authority of India. 7. Sakhi, one stop center for women Haryana
Women and Child Development Minister Kavita Jain on 31 August 2015 inaugurated states first One
Stop Centre, known as Sakhi, at Karnal. The center will play a role in helping the women in distress.
This is the second such centre in the country after Chhattisgarh. The Center would provide help to
sexually, mentally and emotionally harassed women and others. Earlier a day before the
Rakshabandhan, the state government opened women police stations in all the 21 districts of the
state. Haryana is the second state in the country to have women police stations. These women police
stations were opened with an aim to provide security to women. 8. Mt McKinley now Denali On
Sunday, the Obama administration announced that the peak formerly known as Mount McKinley (The
highest mountain of North America) will henceforth be known as Denali, its traditional Native Alaskan
name. The mountain was officially named after President William McKinley in 1917, a gesture
originally proposed by an Alaska gold prospector in recognition of McKinleys support for the gold
standard. The Denali name is widely supported by Alaskans regardless of ethnicity. Politicians from
McKinleys home state of Ohio are leading the opposition to the change.
Read more at: http://bsc4success.com/ga-1-september/
GA- 2 September 3 weeks ago 6 Comments 3773 view(s) GA- 2 September 1. Smart National
Common Mobility Card The Ministry of Urban Development has launched a Smart National Common
Mobility Card (NCMC) model to enable seamless travel by different metros and other transportation
systems across the country besides being used for shopping as well. The government had earlier tied
a similar model but had not succeeded. After an extensive study of different models used globally, the
committee has recommended the EMV Open Loop Card with stored value. C-DAC will develop the
standards and hardware for metro gates/validators along with related ecosystems for which the
government has approved funding of Rs 4.47 crore. Certification and authentication mechanism will
be developed by NPCI or any other government agency. 2. Vadakkunnathan temple wins UNESCO
award India has won the top UNESCO prize Award of Excellence 2015 for the remarkable
conservation efforts of the majestic Sree Vadakkunnathan Temple in Kerala. The award recognises
the remarkable conservation effort undertaken at the sacred site which employed age-old rituals and
conservation techniques drawn from Vastu Sastra focussing on architecture and construction. Sdaring
Xieng Thong Temple in Luang Prabang won the Award of Merit and became the first project in Lao
Peoples Democratic Republic to receive the UNESCO Asia-Pacific Heritage Award. 3. Durban: First
African host of Commonwealth Games Durban was officially named as host of the 2022
Commonwealth Games making it the first African city ever to stage the sporting spectacular. South
Africas third largest city was the only candidate for the 2022 hosting rights after Canadas Edmonton
withdrew in February, citing cost concerns. The Games would finally be held in Africa after 85 years.
The four-yearly, multi-sport event was first staged in 1930, when it was known as the British Empire
Games. Britain has hosted six editions, Australia and Canada four apiece, New Zealand three, and
Jamaica, Malaysia and India one each. Africa has always missed out but sports officials have been
buoyed by South Africas successful hosting of the worlds three biggest single-sport events, the

football, cricket and rugby union World Cups. The Durban Games will open on July 18, 2022, a
national holiday marking the birthday of South African icon Nelson Mandela, who died in 2013 aged
95. The Games will run for 12 days. 4. Union Govt releases 2000 crore rupees to EPS-95 The Union
Government on 1 September 2015 released 2000 crore rupees to Employee Pension Scheme, 1995
(EPS-95) as its contribution for the year 2015-16. This contribution is in addition to the Rs 250 crore
contributed by the government as grant-in-aid in the Employees Pension Scheme, 1995 for providing
minimum pension of Rs 1,000 to pensioners under the scheme. The contribution of central
government is calculated at a rate of 1.16 per cent of the monthly wages of the members contributing
to the scheme. It is in addition to the contribution made by employers covered under the Act.
Employers contribute 8.33 per cent of the monthly wages of the scheme members. Since last
September, EPS pensioners have been assured of a guaranteed minimum pension of Rs 1,000 per
month and it has been necessary to infuse additional amount as grants-in-aid by the Centre to sustain
the continuance of the minimum pension. Employee Pension Scheme (EPS)-95 came into effect on
16 November 1995 and the scheme was launched under the Employees Provident Funds and
Miscellaneous Provisions Act, 1952. It applies to the employees of all factories and other
establishments to which the Employees Provident Funds and Miscellaneous Provisions Act, 1952
applies. 5. Yoga as a sports discipline The Sports Ministry decided to recognize Yoga as a sports
discipline and place it in the Priority category. The Ministry also decided to upgrade Fencing
from Others to General category, based on the past performance in major international events. It
has also been decided to place University Sports in the Priority category. It has now been decided
by the Ministry of Youth Affairs and Sports that sports disciplines included in the multidiscipline mega
events like Olympics, Asian Games, Commonwealth Games etc and which have obtained a ranking
upto 8th in individual events and upto 10th in team events in Olympics/Asian Games/CWG or their
respective Asian and World Championships shall be placed in General category. Financial assistance
for this category will be as under: National Championships are to be funded, One international event
in India in a year, can be funded and a Maximum of one foreign exposure each in Senior and Junior
categories can also be funded during a year. 6. India wins test series against Sri Lanka India on 1
September 2015 won the three-match cricket test series against Sri Lanka, 2-1. In the third and final
match of the series, India defeated the host with an emphatic 117-run. With this win, India also ended
a 22-year long drought of a win over Sri Lanka on Sri Lankan soil. Player of the series Ravichandran
Ashwin of India It was Virat Kohlis first test series win as a Test captain. The second match will be
remembered for being the last Test of Kumara Sangakkara, the gentleman cricketer from Sri Lanka,
and a role model for many around the world.
Read more at: http://bsc4success.com/ga-2-september/
GA- 3 September 3 weeks ago 8 Comments 3511 view(s) GA- 3 September 1. Govt to auction small
oil fields to private companies The government will auction 69 idle oil and gas fields of state-owned
ONGC and Oil India to private firms on a new revenue sharing model, which will give the bidders
pricing and marketing freedom. The 69 small and marginal fields, which hold 89 million tonne of oil
and gas resources worth Rs 70,000 crore at current rates, will be given to explorers offering the
maximum revenue from hydrocarbon produced to the government. This is a paradigm shift from the
controversial and cost recovery model to a more equitable revenue sharing model that protects
government interest in both low oil and high oil price scenarios.This production sharing contract (PSC)
model was criticised by CAG, which said it encouraged companies to keep raising cost so as to
postpone higher share of profits to the government. The successful bidders of the fields on auction
would be free to sell crude oil or natural gas at market-determined prices, without any government
interference. Companies operating these new fields will be able to sell gas to any customer of their
choice and not be bound by the governments allocation policy. Unified Licences: Companies will be
able to exploit any and all hydrocarbons (oil, gas, shale oil, shale gas and so on) found in the field,
unlike the current system which requires a separate licence for each. 2. FMC to merge with SEBI on
Sept 28 The government has issued a notification to merge the Forward Markets Commission (FMC)
with the Securities and Exchange Board of India (Sebi), with effect from 28 September. Forward

Contracts Regulation Act, 1952 gets repealed and regulation of the commodity derivatives market will
shift to Sebi under the Securities Contracts Regulation Act, 1956 with effect from 28 September 2015.
Finance Minister Arun Jaitley, in his Budget speech, had announced the merger of FMC with the
capital market regulator Sebi to strengthen the regulation of commodity futures market. A unified
regulator for commodities and capital markets will help streamline monitoring of commodity futures
trading and curb wild speculations. In the wake of a Rs 5,500-crore payment crisis at the National
Spot Exchange Ltd, FMC was brought under Finance Ministry in 2013. In the beginning, FMC was
only regulating regional commodity exchanges and its role was expanded after the emergence of
national electronic trading platform in early 2000. Currently, there are three national and six regional
bourses for commodity futures in the country. 3. West-Central Railway zone free of Unmanned level
crossings The West-Central Railway Zone has become the first zone in Indian Railways to eliminate
all unmanned level crossings from its system by August 31, 2015. Out of total 118 unmanned level
crossings falling on West-Central Railway region as on April 1, 2014, 80 were eliminated in the
financial year 2014-15 and the remaining UMLC were eliminated in current financial year by August
31. Unmanned level crossings have been one of the reasons for increase in train accidents. 4. IndiaUNs Better Than Cash Alliance for PMJDY Indian Government on 1 September 2015 partnered with
the United Nations (UN) Better Than Cash Alliance to share success stories from the financial
inclusion programme Pradhan Mantri Jan-Dhan Yojana(PMJDY). By joining the Better Than Cash
Alliance, the Indian Government will have a research, technical, and policy partner as it continues to
create a digital financial economy. The partnership is an extension of Indian Governments
commitment to reduce cash in its economy. Digital financial services lower the cost of providing
financial services and make it more convenient for poor people to access their accounts. The Better
Than Cash Alliance is made up of governments, companies and international organizations. Under
PMJDY in one year, 175 million new accounts have been opened, with deposits totaling more than 3.4
billion US dollars (223 billion Rupees). 5. IP Facilitation centre at Lucknow To encourage and nurture
innovative activities in the MSME sector, an Intellectual Property Rights (IPR) Facilitation Centre for
MSMEs was inaugurated at Lucknow on yesterday. The Centre was inauguated by Dr. Anup K. Pujari,
Secretary (MSME) in the presence of Shri Alok B. Shriram, President, PHDCCI and Shri Vishwanath,
Chairman, Committee on MSME, PHDCCI. This centre will be located in the Office of PHDCCI in
Gomti Nagar. PHD Chamber of Commerce and Industry (PHDCCI) is a New-Delhi based multi-state
agency engaged in the promotion of industry, trade and entrepreneurship. The functions of the IPFC
are: IPR Protection Facilitation, IP Capacity Building: Awareness & Training, IP Information Services
and IP Counselling & Advisory Services. 6. Railway Ministry launches three IT Initiatives The Minister
of Railways Suresh Prabhakar Prabhu on 1 September 2015 launched three IT initiatives developed
by Centre for Railway Information Systems (CRIS), IT arm of Ministry of Railways. These initiatives
are: 1. Paperless unreserved ticketing mobile application This will eliminate the need for printing of
Unreserved Tickets on ATVMs at the stations. User can download App from Google Play Store or
Window Store. The application has now been implemented on complete suburban area of Chennai &
Mumbai Western Railway suburban section which covers 125 stations over 295 kms distance.
Presently, about 1600 tickets are being booked daily by the passengers through this application. The
application is now being implemented on the New Delhi-Palwal section of Northern Railway covering
11 stations over 57 kms distance.Cash/Smart 2. Card Operated Ticket Vending Machine Cash/Smart
Card operated Ticket Vending machine is an unmanned self-operated kiosk which can be used by
passengers themselves to buy unreserved tickets through Currency/Coins as well as smart cards.
These kiosks have easy graphical interface for ticket transaction so that the user can operate these
machines. The kiosk accepts currency or coin of all denominations of 5 rupees and above. The
machine does not accept soiled, cut, glued, taped or colored notes and accepts currency notes of
Gandhi series. 3. PARICHAALAN, Real Time Decision Making In Freight Operations Parichaalan is a
mobile application, conceptualized and developed by CRIS, to make decision making on freight
operations absolutely easy and user friendly by providing mapped movement of freight trains and
powerful search tools, removing the need to sift through voluminous tabular data.
Read more at: http://bsc4success.com/ga-3-september/

GA- 4 September 3 weeks ago 1 Comments 3338 view(s) GA- 4 September 1. G20 finance ministers
meet in Turkey G20 ministers and governors at the meeting in Ankara on September 4-5 will
exchange views on the recent global economic developments, challenges and collective measures to
address them as well. Reserve Bank of Indias Governor Raghuram Rajan and FM Jaitley will
participate in the meet. Other members of the grouping include Argentina, Brazil, China, France,
Germany, Italy, Japan, Russia, South Africa, Turkey, the UK, the US and the European Union. The
meeting will be attended by the Finance Ministers and Central Bank Governors of the G20 members,
invited countries, and the heads and senior representatives of various international organisations such
as IMF and World Bank. The ministers and governors will review the progress in monitoring and
adjustment of G20 growth strategies and evaluate the way forward for G20 investment strategies.
They would also discuss the international financial architecture issues, financial regulation,
international tax agenda and climate finance issues. On the margins of this gathering, G20 Ministers
and Governors will also also hear the B20 representatives perspectives on the 2015 B20 agenda and
draft B20 recommendations to the G20 in the run up to the G20 and B20 Summits during a working
dinner. B20 is an informal grouping of business leaders from the G20 countries. 10th G-20 Summit will
be held in Antalya, Turkey and 11th will be held in Hanzhou, China in 2016. 2. 11th Session of IndiaUAE Joint Commission 11th session of the India-UAE Joint Commission Meeting for Technical and
Economical Cooperation was held on 2 September to 3 September 2015, in New Delhi. The UAE
team had reiterated its commitment to undertake extensive investments in India. Al-Nahyan cochaired the meet of the Joint Commission with External Affairs Minister. The meet was held during the
visit of His Highness Sheikh Abdullah Bin Zayed Al-Nahyan, Minister of Foreign Affairs of United Arab
Emirates to India. Al-Nahyan also led a delegation of senior officials and captains of leading UAE
business houses to India. The two sides agreed to increase the bilateral trade by 60 percent over the
next five years. Federation of Indian Chambers of Commerce and Industry will sign a memorandum of
understanding with the UAE Chambers of Commerce to provide institutional support for promoting
business opportunities An India-UAE Joint Business Council was inaugurated by the two Foreign
Ministers. India is also looking at resuming free trade agreement (FTA) talks with the six-nation Gulf
Cooperation Council (GCC) of which the UAE is a member. The talks have been stalled for five years
and the UAE has indicated that this would be a good time to restart the negotiations. The GCC
comprises Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain, and Oman. It was established in Riyadh,
Saudia Arabia, in May 1981. UAE is the sixth largest source of Indias oil imports and hosts a 2.6
million-strong Indian Community. 3. RBI: Rs 5 coin on golden jubilee of 1965 Indo-Pak war The
Reserve Bank of India will shortly put into circulation Rs 5 coins to commemorate golden jubilee of
Indo-Pak War 1965. The coins will be legal tender as provided in The Coinage Act 2011. Existing
coins in this denomination will also continue to be legal tender. The new coin in the obverse will bear
Lion Capital of Ashoka Pillar in the centre with Satyamev Jayate inscribed below it, the release said.
On the reverse it will bear image of Amar Jawan monument along with the design of olive leaves
branch on its left and right sides at the center, with the inscription veerata aur balidan in Devnagri
script on the left upper periphery and VALOUR AND SACRIFICE in English on the right
upper periphery. The year 2015 is written below the image of the monument. GOLDEN JUBILEE
1965 OPERATIONS in English on the lower periphery will also be written on this face of the coin. 4.
SAARC countries conference on disaster mitigation A conference of SAARC countries to chalk out
and undertake joint efforts on various issues related to disaster mapping and mitigation in the member
nations begins in New Delhi. The conference, including the National Disaster Management Authority
(NDMA) and National Disaster Response Force, is being held keeping in mind the prevalent geoclimatic conditions as well as increased frequency of natural calamities in the SAARC region,
especially in the wake of the recent earthquake in Nepal in April. India has taken the lead to begin the
process of simulation exercises on disaster management in the region coined as South Asian Annual
Disaster Management Exercise (SAADMEx) and has requested the participation of all SAARC
countries for augmenting current levels of individual and joint preparedness for rescue, relief and
response efforts during disaster situations. The exercise will be conducted in two phases. In the first
phase, the current advance coordination conference is being held with representatives from member
countries on September 3-4 here to discuss the modalities and requirements of the main exercise.

The main exercise will be held from November 23-26 in the National Capital Region and will consist of
three components, namely the Table Top Exercise (TTx), the Field Training Exercise (FTx) and the
After Action Review (AAR). This will be followed by a a day-long SAARC Workshop on sharing Best
Practices on Disaster Risk Reduction scheduled on November 27. 5. Haryana bags Skoch Order-ofMerit National Award Haryana has bagged the Skoch Order-of-Merit national award in
implementation of six e-Governance and IT initiatives in the state. The award will be presented to the
state government on September 22-23. Haryana Government has notified 163 e-Governance services
which would be delivered to the citizens at their doorsteps with a view to provide time-bound and
hassle-free services. Skoch Order-of-Merit national award Bestowed upon top performing government
organisations and private organisations working with the government. It is given by Skoch
Consultancy Services Private Limited, a strategy and management consulting firm founded in
1997 and it recognises the best practices and governance models that aim for excellent and efficient
implementation of programmes and services delivery. 6. ICICI Lombard, CSB in tie-up ICICI Lombard
General Insurance has tied up with Catholic Syrian Bank( CSB) for sale of its products through 431
branches of the bank. Through the bancassurance tie-up, the company will able to offer general
insurance solutions to the banks customer base in Kerala, Tamil Nadu, Karnataka and Maharashtra.
The 94-year-old Kerala-based bank has a strong presence in the southern and western parts of the
country. The bank had distribution network of 431 branches across 15 state .. 15 states and 4 union
territories as on December 31, 2014. ICICI Lombard would be able to offer its risk solutions to the
banks customer base of 16 lakh clients (as on December 31, 2014). The banks focus is on the small
and medium enterprises (SMEs) and retail client segments apart from NRI customers. ICICI Lombard
General Insurance Company Limited is a joint venture between ICICI Bank Limited, Indias second
largest bank and Fairfax Financial Holdings Limited, a Canada based diversified financial services
company engaged in general insurance, reinsurance, insurance claims management and investment
management. ICICI Lombard GIC Ltd. is the largest private sector general insurance company in
India Bancassurance is a French term referring to the selling of insurance through a banks
established distribution channels. In other words, we can say Bancassurance is the provision of
insurance (assurance) products by a bank. The Insurance Regulatory and Development Authority of
India (IRDA) on August has allowed banks to tie up with a maximum of nine insurers from three
segments life, nonlife and standalone health insurers as part of the new bancassurance
guidelines. 7. India to Launch Indonesian LAPAN A2/Orari Satellite India will launch a second multispectral remote sensing Indonesian satellite that will help the country to monitor land-use, natural
resource and in disaster mitigation. The indigenously-made LAPAN A2/Orari satellite is a successor to
LAPAN A1/Tubsat, which was also launched in India in 2007. The satellite will be shipped to India
tomorrow to be launched at the Satish Dhawan Space Center in Sriharikota. LAPAN A2/Orari will
function as a tool to monitor land usage, ship movements, sea resources and fishing explorations.
The satellite will orbit the Earth along the equator with an altitude of 650 kilometers, and travel at 7.5
kilometers per second enabling it to circle the Earth 14 times a day. 8. Punjab Government: Special
MGNREGA cell A special National Rural Employment Guarantee Act (NREGA) cell has been set up
here in Punjab with an aim to effectively implement it. An outlay of Rs 233 crore has been provided
under this project. The centre has decided to fix the wage rate under the NREGA on the basis of
Consumer Price Index which will be implemented on April 1 every year and will be applicable for the
whole financial year. From the outlay of Rs 247.50 crore, an expenditure of Rs 210.54 crore was
incurred during the last financial year, he said. All the districts of the state are being covered under
NREGA with effect from April 1, 2008 and the recent wage rate has been revised from Rs 202 to Rs
210 with effect from April 1, 2015. The government has also decided to transfer wages to the
beneficiaries in their bank accounts from September 15, 2015.
Read more at: http://bsc4success.com/ga-4-september/
GA- 5 September 3 weeks ago 4 Comments 3864 view(s) GA- 5 September 1. 5th September:
National Teachers Day 5th September is observed as National Teachers Day. This day
commemorates the birthday of Indias first Vice President and second President Dr Sarvepalli

Radhakrishnan. Dr Sarvepalli Radhakrishnan was born on 5 September 1888 in Thiruttani in then

Madras Presidency of British India. He was an Indian philosopher and statesman and one the best
known scholars in the field of comparative religion and philosophy in India in the 20th century. He had
tremendously contributed towards the new contemporary Hindu identity in the eyes of the ill-informed
Westeners. He held great respect for teachers and always believed that teachers are real nation
builders and thus should always be the best minds in the country. He was the first Vice President of
India (in office from 19521962), Second President of India (in office from 1962 to 1967). He was
honoured with Bharat Ratna (1954), British Royal Order of Merit (1963) etc. World Teachers day is
celebrated on 5th October every year. 2. ONGC buys 15% stake in Russias 2nd-largest oil field
ONGC Videsh Ltd (OVL), the foreign arm of state-owned petroleum explorer Oil and Natural Gas
Corporation (ONGC) has signed a definitive agreement to acquire up to 15 per cent stake in CSJC
Vankorneft, which owns Russias second-largest oil and gas field, Vankor, in eastern Siberia. Rosneft,
Russias national oil company, holds 100 per cent stake in Vankorneft. For years, OVL has been in
talks with Rosneft to acquire stake in the field. Following the deal, OVL will get two positions on
Vankornefts board of directors. Rosneft would create an operator company to allow more efficient
management of both the Vankor field and the companys other assets in that region, the Russian
company stated. The transaction will enhance OVLs presence in Russia. The company already holds
20 per cent stake in the Sakhalin-I oil and gas field in eastern Russia. In 2009, it had acquired the
Siberian fields of Imperial Energy for $2.1 billion. The Vankor field produces about 442,000 barrels per
day (bpd) of crude oil, four per cent of Russias overall crude oil production. After ONGC acquires
stake in the field, its daily production would stand at about 66,000 bpd. OVL is present in 36 projects
across 17 countries, including 13 producing assets in Russia, Syria, Vietnam, Sudan, Myanmar and
Azerbaijan. Sitting on total oil and gas reserves of 647 million tonnes of oil equivalent, the company
produces 167,000 barrels of oil and oil equivalent gas a day. In the past two years, it has invested
about $4 billion in acquisitions. These include acquisition of Hess Corporations 2.72 per cent stake in
the Guneshli Fields in Azerbaijan, 12 per cent stake in a deep-water block in Brazil and six per cent in
the Rovuma Area-I offshore block in Mozambique from Videocon. It had also acquired 10 per cent
stake in the same area from Anadarko in February 2014. 3. Jhumpa Lahiri: National Humanities
Medal Indian-American Pulitzer Prize winner Jhumpa Lahiri has been selected for the prestigious
2014 National Humanities Medal which would be presented to her by US President Barack Obama
next week. Jhumpa, 48, has been selected for the award for enlarging the human story. National
Humanities Medal is an annual award given by US President. The first National Humanities Medal
was awarded in 1996. Since then, there have been 175 recipients, 163 individuals and 12
organisations, including this years. Jhumpa is an Indian-American author who was born as Nilanjana
Sudeshna but goes by her nickname (or in Bengali her Daak naam) Jhumpa. Her debut short story
collection Interpreter of Maladies won the 2000 Pulitzer Prize for Fiction and her book The Lowland
was a nominee for the Man Booker Prize. She is currently a professor of creative writing at Princeton
University. 4. Commemorative coins in honour S Radhakrishnan Prime Minister Narendra Modi
released two commemorative coins of Rs 125 and Rs 10 in the memory of former President Sarvepalli
Radhakrishnan on Friday. On the eve of Teachers day, Prime Minister Modi released the coins at a
function ahead of his interaction with central school students at Zorawar hall, Manekshaw Centre in
New Delhi. Teachers Day celebrates the birthday of Indias second President and scholar Dr
Radhakrishnan. 5. Former Goa CM Dr Wilfred de Souza passes away Former Goa chief minister Dr
Wilfred de Souza passed away, after a brief illness, at a Dona Paula-based hospital on Friday
morning. He was 88. De Souza was born to Alina Ana Maria de Souza and Dr Tito Fermino de Souza
in Kampala, Uganda, on April 23, 1927. By profession he was Doctor/surgeon and was one of Goas
most skilled surgeons. He was double Fellow of Royal College of Surgeons of Britain. By profession
he was Doctor/surgeon and was one of Goas most skilled surgeons. He was double Fellow of Royal
College of Surgeons of Britain. The brilliant surgeon was conferred with several awards including Dr B
C Roy Award as Eminent Medical Man & Statesman from the Medical Council of India.
Read more at: http://bsc4success.com/ga-5-september/

GA- 6 & 7 September 3 weeks ago 14 Comments 3840 view(s) GA- 6 & 7 September 1. Govt
announces OROP Defence Minister Manohar Parrikar announced the implementation of the long
delayed One Rank One Pension (OROP) for ex-servicemen. The scheme will be effective from July 1,
2014 with arrears that will be paid in four half-yearly installments. Widows and war widows will get
arrears in a single installment. The base year for calculating the pension has been fixed at 2013. But
the government will stick to revision of pension every five years and not the one, or maximum two
years as demanded by the veterans. Also, military personnel who will retire voluntarily will not be
eligible for the new pension structure. However, government sources have clarified that exservicemen who have taken premature retirement so far will be covered under the scheme. The
estimated cost to implement OROP would be Rs. 8,000 10,000 crore and the arrears alone would
cost Rs. 10,000 12,000 crore. The government has proposed to take the average of the maximum
and minimum pension paid per rank in 2013, while protecting those who earn above average
pensions in their rank. The Defence Minister also announced that a one-member judicial committee
will be set up to work out details of OROP and will submit its report in six months The veterans and
the government had been involved in negotiations for months. The Prime Ministers Office stepped in
last month after the strike escalated into a hunger-strike. OROP was a key promise made by Prime
Minister Narendra Modi when he was campaigning for last years national election. OROP will give the
same pension to ex-servicemen who retired many years ago as that which soldiers of the same rank
retiring now draw. The scheme will benefit three million veterans. But the veterans are not satisfied,
The major issues are They want the scheme to be effective from April, 1 2014 but the Govt want it
from July 1, 2014. They want the base for calculation should be maximum of the pension scale in
2013 and the Govt says it will be average of minimum and maximum pension scale in 2013. They
want it to be revised every one or two years but the Govt wants it to be revised every 5 years. They
want a five member team under Defence Minister to submit the report in one month. They want it to
be applicable for VRS but the govt says it will not apply to employees taking Voluntary retirement. We
will provide all the details of OROP under All you want to know soon. 2. Bodh Gaya as Spiritual
Capital Terming Bodh Gaya as the land of enlightenment, PM Modi said that his government would
develop the site as the spiritual capital for it to serve as a civilisational bond between India and the
Buddhist world. Prime Minister Narendra Modi announced it while addressing delegates from 90
countries on the concluding day of the International Buddhist Conclave held at Bodh Gaya. Prime
Minister called Gautam Buddha as Indias crown jewel and called Bodh Gaya as the land of
enlightenment. Bodh Gaya is famous as it is the place where Gautama Buddha is said to have
obtained Enlightenment under what became known as the Bodhi Tree. Mahabodhi Temple, located in
Bodh Gaya, is a UNESCO World Heritage Site. 3. G-20 Members Launch W-20 to Empower Women
The worlds 20 leading economies have launched a new grouping aimed at boosting the role of
women in global economic growth. The W-20 a grouping of female leaders was launched on
Sunday in the Turkish capital Ankara, where finance ministers and central bank governors from the
Group of 20 were meeting for talks on the global economy. The group aims to work toward
empowering women and ensuring their participation in economic growth. The W20 group having 20
women leaders from G20 nations would host its first summit next month in Istanbul after all
member countries appoint their nominees. At the official launch event, Turkish Prime Minister Ahmet
Davutoglu said the prosperity of a country can be best understood by the smile of women from that
country and it is very important to empower them in the economic growth process. W20s newly
appointed President Gulden Turktan said it would work as an outreach group and seek to promote
gender inclusiveness in economic growth process by empowering women. 4. Pakistan, China joint air
drill: Shaheen Shaheen (Eagle)-4, a joint drill between the air forces of China and Pakistan, began
on Sunday in China. The joint exercise is part of a series of military exchange programs between the
two air forces The first such drill was held in Pakistan in March 2011, the second in Chinas western
Xinjiang Uygur autonomous region in September 2013, and the third was held in Punjab, Pakistan, in
May last year. 5. Lewis Hamilton wins Italian Grand Prix Mercedes driver Lewis Hamilton of Britain
won 2015 Italian Grand Prix of Formula One. This was his seventh victory of the season. Till now he
has won Australian Grand Prix, Chinese Grand Prix, Bahrain Grand Prix, Canadian Grand Prix, British
Grand Prix and Belgian Grand Prix in 2015 season. 6. Aadesh Shrivastava passes away Bollywood

singer and music composer Aadesh Shrivastava died on 5 September 2015 at the Koliaben Dhirubhai
Ambani hospital in Mumbai. He was undergoing treatment for cancer for the last five years. Aadesh
Shrivastava born on 4 September 1966 was a music composer and singer of Indian music. Over the
course of his career, he had composed music for over 100 Hindi films. He has composed music for
films like Chalte Chalte, Baabul, Baghban, Kabhi Khushi Kabhi Gham, Rajneeti and others. 7. Worlds
shortest man passes away Chandra Bahadur Dangi, the worlds shortest man at 21.5 inches
(54.6cm) died in American Samoa. He was suffering from Pneumonia. Dangi, a Nepalese man with
primordial dwarfism born in 1939, earned his title of the Worlds Shortest Man in 2012 after rumors
circulated that he was shorter than the original record holder, a 23.5-inch man in the Philippines. The
75-year-old Dangi lived in a remote village around 400km (248 miles) from Kathmandu, and travelled
the world after he was officially declared the worlds smallest man in 2013.
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GA- 8 September 3 weeks ago 7 Comments 4570 view(s) GA- 8 September 1. September 8:
International Literacy Day The theme of International Literacy Day 2015 is Literacy and Sustainable
Societies. This years celebration of International Literacy Day, therefore, will be dedicated to
exploring critical links and synergy between literacy and the future Sustainable Development Goals
which will be adopted during the 70th session of the United Nations General Assembly in September
2015. As in previous years, International Literacy Day 2015 is celebrated worldwide, bringing together
governments, multi-and bi-lateral organizations, NGOs, the private sectors, communities, teachers,
learners and experts. A main global celebration will take place at UNESCO Headquarters, where a
two-day event on Literacy and Sustainable Societies (8-9 September 2015) will be organized to
prepare the ground for renewed literacy efforts by countries and partners in the post-2015 era. On 8
September, 2015 a ceremony will be held to award the 2015 UNESCO International Literacy Prizes
September 8 was proclaimed International Literacy Day by UNESCO on November 17, 1965. It was
first celebrated in 1966. Its aim is to highlight the importance of literacy to individuals, communities
and societies. On International Literacy Day each year, UNESCO reminds the international community
of the status of literacy and adult learning globally. Celebrations take place around the world. 2. PM
Modi meets India inc The high-level consultative meeting on the agenda Recent Global Events:
Opportunities for India would also be attended by RBI Governor Raghuram Rajan and Niti Aayog
Vice-Chairman Arvind Panagariya. The agenda for the meeting is Recent Global Events
Opportunities for India. The country is better placed than other emerging markets in the midst of the
global meltdown and the government believes the Chinese economic crisis presents opportunities for
India. As many as 27 business leaders, bankers and economists have been invited for the meeting to
deliberate on the recent developments in the global economy and the opportunities they present for
India. Finance Secretary Ratan P Watal, Commerce Secretary Rita Teaotia, Economic Affairs
Secretary Shaktikanta Das and Chief Economic Advisor Arvind Subramanian will be present at the
meeting. The Prime Minister would hear the stakeholders as to how India can take the baton from
China and lead global growth. Rajans presence assumes significance in the context of the recent
inflation-deflation debate and his views on global economy. This is the PMs second meeting with
India Inc in two months and is being held at a time of turbulence in global markets due to a slowing
Chinese economy. The Sensex slipped under 25,000 for the first time in 14 months on Monday. The
meeting also comes as the US prepares to raise interest rates for the first time in nearly a decade. A
rate hike in the US could trigger capital outflows from emerging markets like India. A worried India Inc
is also expected to bring up at todays meeting, its concerns about the slow pace of reforms in the
country and weak GDP numbers. The PM had last met business leaders on June 30 to hear their
grievances on issues ranging from high capital cost to ease of doing business and taxation matters. 3.
NPCIs e-payment literacy initiative National Payments Corporation of India (NPCI), a central
infrastructure for various retail payments in India, has announced the launch of nationwide e-payment
literacy workshop on the occasion of World Literacy Day on September 8. M. Balachandran,
Chairman, NPCI said the workshop would be held across 56 regional rural banks at 120 centres. This
is a first of its kind e-payments workshop to be held where participants will be familiarised on various

issues, including ATMs and their features, he said. NPCI has planned a series of new launches,
including a co-branded RuPay debit card with MUDRA Bank, a credit card and tie-ups with
international payments solutions network providers in the next one year, he said. The co-branded card
with MUDRA Bank, which provides loans at low rates to microfinance institutions and non-banking
financial institutions, is mainly for micro entrepreneurs. There is a similar card for farmers called Kisan
card. NPCI is in the final stages of discussions with China Union Pay (CUP) and Japan Credit Bureau
(JCB) for use of each others payment networks. The tie-up will allow RuPay credit card holders to
withdraw money at ATMs or transact through a point-of-sale (POS) machine abroad. Visitors to India
using CUP and JCB cards will be able to transact through the NPCI network. National Payments
Corporation of India (NPCI) was incorporated in December 2008 and the Certificate of
Commencement of Business was issued in April 2009. It works as the central infrastructure for various
retail payment systems, the NPCI is promoted by the Indian Banks Association and 10 banks,
including six public sector banks, two private banks and two foreign banks. NPCI is increasing the
capacity of its payment switch to handle nearly 100 million transactions daily. At present, NPCI
handles around 20 million transactions a day and will expand it to 40 million in two months. The
increase in volume will be mainly to facilitate government subsidy transactions, including those based
Aaadhar. Some of the products of NPCI National Financial Switch (NFS) Immediate Payment Service
(IMPS) National Automated Clearing House Aadhaar Payments Bridge System (APBS) Cheque
Truncation System (CTS) Aadhaar-enabled payment system (AEPS) RuPay Domestic Card
Scheme 4. Goldman Sachs: Q & A on GST Wall Street firm Goldman Sachs, in a note India: Q&A
on GST Growth Impact Could Be Muted, has put out estimates that show that the Modi
Governments model for the Goods & Services Tax (GST) will not raise growth, will push up consumer
prices inflation and may not result in increased tax revenue collections. Reasons for sub-optimal
results will be- The decision to exclude from the GST items such as tobacco, alcohol and electricity, it
will restrict revenue gains. And, another reason for restricted revenue gains is the Centres offer to
compensate the state governments for five years for any revenue shortfalls. one-per cent additional
tax over and above GST if fixed at 20 per cent, the GST rate would increase headline consumer price
inflation by about a percentage point in the year that the tax is implemented. Its analysis suggests that
that about a third of the basket of products in the consumer price inflation index would come under the
GST. The rate of price-rise for services would go up by more than a percentage point if the Centre and
States settle for a GST rate of 20 per cent as against the existing service tax rate of 14 per cent.
Inflation in goods could be lower by about 0.3 percentage point against the current average tax on
consumer goods works out to about 22 per cent. The estimate of the impact on GDP is significantly
lower than that of the National Council of Applied Economic Research (NCAER). The NCAER in 2009
estimated that moving to the GST can increase Indias growth by 0.9 percentage point to 1.7
percentage point. Goldman Sachs reasons: Why NCAER estimates may not be right-metric NCAER
uses the 2003-04 input-output table for its calculations, which is outdated. The implementation of the
VAT since then has already captured the state-level productivity gains in goods that were part of the
studys estimate. The study assumed the GST had more comprehensive coverage, including
petroleum products, which are not being considered by the Modi Government for its proposed GST.
The study assumed a much lower revenue neutral rate than currently being considered. NCAER study
does not capture the distortions which could arise from the 1-percent additional tax for inter-state
movement of goods proposed by the Centre. The GST is a nation-wide integration of goods and
services tax in India. It combines about 16 types of taxes such as central excise and service tax,
states VAT, entertainment and luxury tax, and various surcharges into a single tax. National Council of
Applied Economic Research or NCAER is a non-profit policy think tank. The Goldman Sachs Group,
Inc. is an American multinational investment banking firm that engages in global investment
banking,securities, investment management, and other financial services primarily with institutional
clients. 5. WEF Report: Inclusive Growth and Development Report A new study by World Economic
Forum (WEF) has ranked India very low globally on most of the parameters for inclusive growth and
development. However it fares much better internationally when it come to business and political
ethics. WEF said that the new study, which was conducted over the past two years, seeks to identify
the various ways policymakers can drive economic growth and equity. India has mostly been ranked

in the bottom half of the 38 countries that make up lower middle income bracket. However, India does
demonstrate leadership in some area, while naming areas like corruption and rents where it comes
8th. For business and political ethics, India ranks 12th, while it ranks 11th on the Financial
intermediation of real economy investment pillar, which suggests that money invested in the economy
generally gets directed towards productive uses. WEF said that another area that policymakers in
India would need to prioritise improvement would be Asset building and entrepreneurship, in
particular the Small business ownership, where India ranks bottom among its peers at 38th place.
WEF said its first Inclusive Growth and Development Report present a new framework for assessing
countries efforts to foster economic growth that raises the living standards of entire societies WEF
Report overs 112 economies. 6. Aerospace manufacturing facility for Airbus The aerospace
manufacturing facility was inaugurated by defence minister Manohar Parrikar. Situated on the 250acre Aequs Special Economic Zone (SEZ), the facility is dubbed as the countrys largest aerospace
machining centre for Airbus Group. The facility will generate employment for over 1,000 skilled
professionals during the period in five years. The biggest chunk of Make in India can come from
defence. There is a distant possibility of making $8-10 billion products per year from India for the next
five years, if some of the deals in the pipeline go through, said Parrikar. Airbus Group SE is a
European multinational aerospace and defence corporation. Seated in Toulouse, France, the group
consists of the three business divisions Airbus, Airbus Defence and Space, and Airbus Helicopters. 7.
Ramesh Chand appointed as Niti Aayog member Renowned farm expert Professor Ramesh Chand
has been appointed as new member of Niti Aayog. Mr Chand has been working as Director of
National Institute of Agricultural Economics and Policy Research (NIAP) in New Delhi since 2010. He
is also a member of a task force on agriculture development under Niti Aayog. The task force headed
by Niti Aayog Vice Chairman Arvind Panagriya, which was formed in March this year, is mandated to
recommend strategies for re-invigorating agriculture in all its aspects and to formulate strategies for
reforms, innovation and technology diffusion. Besides Mr Chand, economist Bibek Debroy and former
DRDO chief V K Saraswat are other two full-time members. 8. Digital version of Mahatma Gandhis
collected work Information and Broadcasting Minister Arun Jaitleypaid rich tributes to Mahatma
Gandhi and said it was hard to imagine another person with his stature, vision and inspiration.
Speaking at a function after releasing an e-version of the collected works of Mahatma Gandhi, Mr
Jaitley said the Publications Division had in 1994 published the collected works of Mahatama Gandhi
in book form with an edition of it in Hindi as well. The digital version is a collectors item and can also
be accessed on the internet for people around the world to use as a resource for reference. 9. MoU:
RDL & Abu Dhabi Ship Building Reliance Defence Ltd. (RDL), a wholly-owned subsidiary of Anil
Ambani-led Reliance Infrastructure Ltd. has signed a memorandum of understanding (MoU) with Abu
Dhabi Ship Building (ADSB) to explore an opportunity to set up a strategic partnership for the
construction of naval ships including frigates, destroyers and other specialised vessels to address the
needs of Gulf Cooperation Council (GCC) over the next 10 years. ADSB is a leading provider of
construction, repair and refit services for naval, military and commercial vessels in the GCC region.
Both RDL and ADSB are believed to be incorporating a joint venture, which will encompass both
construction of new naval vessels as well as maintenance, repair and overhaul and refit opportunities
of existing commercial and naval vessels in the region. Reliance Defence will be the majority partner
in this proposed joint venture with 51 per cent stake, according to people familiar with the
development. The MoU signing follows the joint statement issued during Prime Minister Narendra
Modis visit to UAE on August 18, which highlighted co-operation and manufacture of defence
equipment in India. The programmes include Combat Management Systems (CMS), Integrated
Bridge Solutions (IBS), Combat System Integration (CSI), Integrated Platform Management Systems
(IPMS) and staff training and development. ] Reliance Group has entered into half a dozen pacts with
foreign collaborators to build up capability in defence equipment production in India. 10. Sixth IndoMaldives Joint training exercise The sixth Indo-Maldives joint Training Exercise commenced on 31
Aug 2015 with an impressive opening ceremony at Pangode Military Station, Trivandrum. Aim of the
Joint Exercise is to acquaint both the forces with each others operating procedure in addition to
increased understanding and interoperability between the two Armies. A total of 45 soldiers each from
the Maldivian National Defence Force and the Indian Army (BIHAR Regiment) will take part in this

exercise. Varied training activities are being conducted to enhance interoperability and jointness
between the two defence forces. The joint training will conclude with a tactical exercise. The closing
ceremony is scheduled on 13 Sep 15 and would involve cultural displays by various military display
teams besides aerial acrobatics display by Sarang Team. 11. Forbes Asias new list of philanthropists
Seven Indians, including three Infosys co-founders and a Dubai-based education entrepreneur,
feature in the latest Forbes Asia edition in a new group of philanthropists from 13 countries for their
noteworthy contributions. Infosys co-founders Senapathy Gopalakrishnan, Nandan Nilekani and SD
Shibulal feature in the Forbes Asias 9th list of philanthropists in the Asia-Pacific region for their
individual contributions to health and education sectors. Rohan, son of Infosys co-founder NR
Narayana Murthy, also feature in the list. He donated a whopping USD 5.2 million to Harvard
University Press for promoting ancient Indian literary classics. He represents his father as a
philanthropist. Kerala-born entrepreneur Sunny Varkey also features in the list. In June 2015, Varkey
was in the news for his pledge to donate half his fortune worth USD 2.25 billion as charity in response
to the Giving Pledge Initiative, led by Bill Gates and Warren Buffet. Based in Dubai, Varkey is the
founder of GEMS Education, a chain of 70 private schools in 14 countries. He has already been
featured in Forbes list of top Indian philanthropists. The two others are India-born brothers Suresh
Ramakrishnan and Mahesh Ramakrishnan. Both are London-based entrepreneurs and are founders
of Whitcomb & Shaftesbury Tailors on Londons Saville Row. 12. Signature spice outlets in foreign
markets The Spices Board India has decided to go global by opening premium retail outlets abroad to
sell around 30 of the choicest spices and value added products under the Spices India and
Flavourit brand names as a part of broadening its brand-building exercise beyond the nations
boundaries. The products will be sold through signature stalls set up in overseas market in
partnership with private investors. It is expecting that those stalls would help the board to gain access
to more international markets and further promote the popularity of Indian spices abroad. The Spices
Board is the Indian government regulatory and promotion agency for Indian spices. The board is
headquartered in Kochi. Dr. Jayathilak, IAS is the current chairman of Spices Board. 13. BSNL:
Minimum 2 Mbps speed from Oct. 1 Starting October 1, over one crore BSNL landline broadband
users will be able to surf the Internet at a minimum speed of 2 megabits per second (2Mbps), at no
extra cost. At present, the company offers minimum broadband speed of 512 Kbps. The move, which
could also trigger a drop in data speed tariffs of private telecom operators. This move is a part of
BSNLs revival plan. BSNL is losing customers in mobile as well as landline to private operators. The
company lost about 1.78 crore wireless and over 20 lakh wireline subscribers between March 2014
and March 2015. The losses for the firm stood at Rs 7,600 crore. Other initiatives are free roaming
and free night calling on landlines for its users. 14. Ahmed Javed: New Mumbai Police chief Mumbai
Police Commissioner Rakesh Maria has been promoted to Director General (DG) Homeguard. Ahmed
Javed was appointed the new Mumbai police commissioner. Ahmed Javed will take over from Rakesh
Maria. Maria belongs to the 1981 batch of the Indian Police Service. His first posting was as assistant
superintendent of police in Akola, and then Buldhana, in the interiors of Maharashtra. He came to
Mumbai in 1986. He was the Deputy Commissioner Police (Traffic) in 1993.He was appointed the
Commissioner of Mumbai Police on 15 February 2014. Rakesh Maria was much in the news these
day due to Mumbai Polices ongoing investigations in the Sheena Bora murder case.
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GA- 9 September 2 weeks ago 23 Comments 4349 view(s) GA- 9 September 1. IOB launches Rupay
MUDRA Debit Card The Indian Overseas Bank launched MUDRA Card under Prime Minister Mudra
Yojana. According to the scheme, the micro units can utilise the card for meeting working capital
requirements. In MUDRA card, 20 per cent of the total working capital limit would be available and
could be used like other debit cards in the POS machines, ATMs and E-Commerce. Other banks has
also launched Mudra Card like Corporation Bank, Karnataka Bank and Andhra Bank. MUDRA Card is
an innovative credit product wherein the borrower can avail of credit in a hassle free and flexible
manner It will provide a facility of working capital arrangement in the form of CC/OD to the borrower.
( CC- Cash Credit and OD- Overdraft) Since MUDRA Card will be a RuPay Debit Card, it can be used

for drawing cash from ATM or Business Correspondent or make purchase using Point of Sale
machine. Facility is also there to repay the amount as and when surplus is available, thereby reducing
the interest burden. 2. Philips unveils web-enabled lighting in India Philips Hue is an intelligent webbased LED lighting solution with Internet of Things concept, which allows users to control home
lighting anytime, anywhere. Philips Hue allows users to create and control home lighting using their
smartphone or tablet and works seamlessly across both iOS and android mobile platforms. Users can
easily set, and automate the lamps to dim, or increase the light intensity depending on your mood.
Thats not all, you can pick an image and have your living room shaded with the same colours. You
can also connect it to IFTTT to get you a gentle notification when it is raining outside, and similar
things. The Philips Hue range for India includes Hue starter kit, which includes the bridge and three
hue lamps starting at Rs.16,995. Its targets are upper middle class and middle class in India. What is
The Internet of Things (IoT) The Internet of Things (IoT) is a computing concept that describes a
future where everyday physical objects will be connected to the Internet and be able to identify
themselves to other devices. This includes everything from washing machines, headphones, lamps,
jet engine of an airplane or anything. If it has an on and off switch then chances are it can be a part of
the IoT i.e. anything that can be connected, will be connected. 3. EY Report on bad loans The EY
survey, aimed at uncovering the elements which contributed to the NPA issue. The EY survey is
based on the responses of over 110 respondents from public, private, foreign and co-operative banks
during November 2014 to March 2015. 87 per cent of the respondents stated that diversion of funds to
unrelated business via fraudulent means is one of the root causes for the non-performing asset (NPA)
crisis. 72 per cent of bankers believe that borrowers are misusing the restructuring norms set by the
authorities, EY said. 91 per cent of bankers stated forensic audit should be made mandatory to check
the borrower intent and further 54 per cent respondents said that this would help in weeding out wilful
defaulters from genuine borrowers. 86 per cent of the respondents stated that existing monitoring
procedures such as internal audits and concurrent audits alone were not enough to verify adequate
functioning of the NPA mechanism. Only 15 per cent of the respondents seemed optimistic and felt
that NPA numbers will be curbed due to regulatory changes and increase supervision by the Reserve
Bank of India (RBI). The report also said that periodic independent audits on borrowers have revealed
diversion of funds or wilful default leading to stress situations while corporate borrowers have
repeatedly cited the economic slowdown as the primary factor responsible for rising NPAs. An
analysis by rating agency ICRA also predicts rise in bad loans. It said last week in a webinar that the
banking sector is likely to end the current fiscal with increased gross NPAs at 5.3-5.9%, primarily due
to the withdrawal of the regulatory forbearance on restructured advances by the Reserve Bank of
India from this April. Stressed asset percentages have consistently been a cause of concern over the
last few years. As on March 2015, gross NPAs of the banking sector stood at 4.6 per cent of advances
as compared to 4.1 per cent in the previous year. Further, gross NPAs of public sector banks stood at
5.17 per cent of advances as of March-end 2015 while the stressed assets (NPAs and restructured
loans) were 13.2 per cent. 4. UBS & Moodys cuts Indias growth forecast UBS Swiss brokerage UBS
has revised downwards Indias GDP growth projection for the current fiscal to 7.1 per cent, from 7.5
per cent earlier and for financial year 2016-17 to 7.6 per cent from 8.3 per cent earlier. Weaker
external demand prospects and slow progress on balance sheet repair leads us to curtail our growth
forecast despite lower oil prices which were expected to provide a boost to Indian growth. Moodys
Moodys Investors Service said Indias current account deficit is likely to remain low supported by
declining oil prices but a slow recovery in industrial output and investment would drag economic
growth to 7 per cent in the current fiscal. CAD is the difference between the inflow and outflow of
foreign exchange. It lowered the projection for India to 7% in 2015 and 7.5% in 2016, from 7.5% and
7.6% based on high frequency indicators suggesting that the recovery in industrial output and
investment is slow, and bank credit growth still subdued Indias GDP growth rate slipped to 7 per cent
in the April-June quarter of 2015-16. The government expects economy to grow at 8-8.5 per cent in
the fiscal ending March 2016. 5. Target of 100 % literacy in villages by Mar 2016 The government has
set a target of achieving 100% literacy in villages adopted under the Sansad Adarsh Gram Yojana by
March 2016. The HRD ministry is collaborating with the MPs who have adopted villages located in
410 districts. It has made an appeal to state and district representatives to take pledge for their

respective operational areas. Sansad Adarsh Gram Yojana: It is a village development project under
which each Member of Parliament will take the responsibility of developing physical and institutional
infrastructure in three villages by 2019. The goal is to develop three Adarsh Grams or model villages
by March 2019, of which one would be achieved by 2016. Thereafter, five such Adarsh Grams (one
per year) will be selected and developed by 2024. The Project was launched on the occasion of birth
anniversary of Lok Nayak Jai Prakash Narayan. 6. Andhra Pradesh rechristens APSEA as e-Pragati
Andhra Pradesh government has rechristened the AP State Enterprise Architecture (APSEA) as ePragati. APSEA is a comprehensive architecture to leverage the latest advances in e-governance
tools. Developed in association with technology giant Wipro in a span of eight months, e-Pragati is a
comprehensive framework for implementing e-governance and provides e-services to citizens of
Andhra Pradesh, according to an official release. With e-Pragati, Andhra Pradesh becomes the first
state in India to conceive and execute a state-wide enterprise architecture. e-Pragati extends to 33
secretariat departments and over 300 government agencies in AP. It seeks to provide a bouquet of
745 services in the government to customer (G2C), government to business (G2B), government to
enterprise (G2E) and government to government (G2G) areas. It consists of 72 projects grouped into
14 packages whose estimated outlay is Rs.2,358 crore which will be funded and implemented over a
three-year period. Of this, the government will invest Rs.1,528 crore and balance the rest of the
amount through PPP mode. 7. Tamil Nadu CM Launches Amma Baby Care Kit Tamil Nadu Chief
Minister Jayalalithaa launched the Amma Baby Kit Scheme that she announced last year. Babies born
in government hospitals would receive the kit worth Rs. 1,000 with 16 items including a dress,
mosquito net, soap, shampoo, hand santiser, baby rattle, nail clipper among others. The kit will also
have a mix for mothers to increase lactation. The project would cost Rs. 67 crore to the state
exchequer. 68 per cent of child births in the state take place in government hospitals and the project
would benefit 6.7 lakh newborns. Ms Jayalalithaa had earlier launched Amma Unavagams popularly
known as Amma canteens, which serve high quality subsidised food. Other includes Amma
Pharmacies, Amma Water and Amma Cement to supply essential items at cheaper price. Recently,
she had launched Amma Master Health Check-Up for less than Rs. 1000. 8. Deepak Lather: Gold in
Commonwealth Youth Games Indian weightlifter Deepak Lather won a gold in the 62 kg category in
Commonwealth Youth Games held in Apia, Samoa. This was Indias second gold in weightlifting after
Jamjang Deru stood atop the podium in the 56 kg category on the opening day of the event. The 15year-old Deepak finished with a total of 258 kg with 120 kg in snatch new CYG record and 138
kg in clean and jerk. India are being represented by 25 athletes in eight disciplines out of the nine
being competed in the CYG. This is the fifth edition of CYG. It happens every four years. 9. Queen
Elizabeth: UKs longest-reigning monarch Queen Elizabeth becomes Britains longest-reigning
monarch. Aged 89 is also the nations oldest ever monarch. Her great-great-grandmother Queen
Victoria spent on the throne.63 years, 7 months, 2 days, 16 hours and 23 minutes that She was 25
when she ascended to the throne on Feb. 6, 1952, following her fathers death. That made her the
40th monarch in a royal line that traces its origin back to Norman King William the Conqueror who
claimed the throne in 1066 with victory over Anglo-Saxon Harold II at the Battle of Hastings.
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GA- 10 September 2 weeks ago 8 Comments 4446 view(s) GA- 10 September 1. Govt clears two
gold schemes The Union Cabinet approved two schemes the Sovereign Gold Bond Scheme and
the Gold Monetisation Scheme that could bring an estimated 20,000 tonnes of idle gold lying with
Indian consumers into the economy and also reduce Indias dependence on gold imports. Gold
monetisation scheme Individuals and institutions can open a gold savings account with a bank and
deposit at least 30 grams of gold bullion or jewellery after certification from a hallmarking centre for
short, medium or long term. Term: 1- 15 years Earn interest and get tax exemptions including
exemption from wealth tax, capital gains tax and tax-free interest income. Redemption: It will be at the
prevailing market value at the end of the tenure of deposit. short term: in gold or cash medium: only
cash long term: only cash WHY? Government Fish out idle gold resources with households. Gold
will be allowed to be sold to jewellers in order to boost domestic supply It will also help to mobilise

RBIs gold reserves and also to use it for making coins. Sovereign gold bond scheme Individuals and
institutions can purchase bonds in denominations of 5,10,50,100 grams of gold instead of physical
gold assets and earn interest on it. Gold bonds which will be relatable to the weight of gold. Term: 5 to
7 years Cap of 500 grams that a person can purchase in a year. Department of revenue to provide tax
exemptions in next Budget including indexation benefit on transfer of bonds and also exemption from
long-term capital gains tax at redemption. The government plans to exempt capital gains made at the
time of redemption of gold under the Gold Bond Scheme. Redemption: in rupee amount on maturity
WHY? Government can cut down on demand for gold and its imports. Will be used in lieu of
government borrowing. Other Decisions Dearness Allowance The Union Cabinet approved an
additional dearness allowance (DA) of six per cent for central government employees from July 1,
which has now been raised to 119 per cent of basic pay as compared to 113 per cent earlier. This hike
will benefit 50 lakh government employees and 56 lakh pensioners. FDI in White Label ATMs The
Union Cabinet also permitted 100 per cent FDI under the automatic route for white label ATM
operations. This decision will ease and expedite foreign investment inflows in the activity and thus
give a fillip to the governments effort to promote financial inclusion in the country, including the
Pradhan Mantri Jan Dhan Yojna. 2. National Offshore Wind Energy Policy The Union Cabinet has
given its approval to the National Offshore Wind Energy Policy. With this approval, the Ministry of New
& Renewable Energy (MNRE) has been authorized as the Nodal Ministry for use of offshore areas
within the Exclusive Economic Zone (EEZ) of the country and National Institute of Wind Energy
(NIWE) has been authorized as the Nodal Agency for development of offshore wind energy in the
country and to carry out allocation of offshore wind energy blocks, coordination and allied functions
with related ministries and agencies. The approval paves way for offshore wind energy development
including, setting up of offshore wind power projects and research and development activities, in
waters, in or adjacent to the country, up to the seaward distance of 200 Nautical Miles (EEZ of the
country) from the base line. Preliminary assessments along the 7600 km long Indian coastline have
indicated prospects of development of offshore wind power. With the introduction of the National
Offshore Wind Energy Policy, the Government is attempting to replicate the success of the onshore
wind power development in the offshore wind power development. India has achieved significant
success in the onshore wind power development, with over 23 GW of wind energy capacity already
installed and generating power. The policy will provide a level playing field to all
investors/beneficiaries, domestic and international. All the processes would be carried out in a
transparent manner by NIWE. The development would help the country in moving forward towards
attaining energy security and achievement of the National Action Plan on Climate Change
(NAPCC) targets. To increase energy security and diversify supply reliance beyond coal, hydro,
nuclear, and natural gas, India wants to expand its renewable power capacity to 175 GW by 2022,
including 100 GW of solar, 60 GW of wind power, 10 GW of biomass, and 5 GW of small
hydropower. The countrys current installed renewable capacity stands at 34 GW. 3. South Asian SubRegional Drug Focal Point The Narcotics Control Bureau is organizing the Sub-Regional Drug Focal
Point Meeting and Drug Demand Reduction (DDR) Expert Group Consultation, South Asia under the
Colombo Plan Drug Advisory Programme (CPDAP) from 9th to 11th September, 2015. The Union
Home Minister Shri Rajnath Singh will be the Chief Guest on this occasion. About 40 delegates from
various participating countries namely Afghanistan, Bangladesh, Bhutan, India, Iran, Maldives, Nepal,
Sri Lanka and observer countries namely USA and Myanmar are expected to participate in the
meeting. United Nations Office on Drugs and Crime (UNODC) representative from Regional Office for
South Asia, New Delhi will also participate in this meeting. The main objective of the meeting is to
review the progress of the Drug Demand and Supply Reduction activities in the region. 4. Gandhi
Peace Prize for ISRO President Pranab Mukherjee gave Gandhi Peace Prize 2014 to Indian Space
Research Organisation (ISRO) in recognition of its services in transforming India through the use of
space technology and space based services. ISRO chairman AS Kiran Kumar received the honour
which carries Rs. one crore in cash, a plaque and a citation. Mr Mukherjee praised ISRO for scripting
space history on September 24, 2014 by successfully placing the Mars Orbiter around Mars. India is
the only country in the world to achieve this feat in its first attempt and ISRO the fourth space agency
in the world to reach Mars. Gandhi Peace Prize, whose secretariat is provided by Culture Ministry, is

presented annually by the President. This award is given to individuals and institutions for their
contribution towards social, economic and political transformation through non-violence and other
Gandhian method. 5. Himalaya Diwas celebrated in Uttarakhand Himalaya Diwas on 9th September
was celebrated in Uttarakhand with noted environmentalist Sundarlal Bahuguna administering an oath
to children to conserve the Himalayas. On this occasion, Chief Minister Harish Rawat also announced
his decision to keep the Himalayas in the centre of state governments policies. In 2010, there was an
environment activists meet that decided that September 9 would be celebrated as Himalay
Diwas and Chief Minister Harish Rawat in 2014 officially declared September 9 as Himalaya Diwas
a day which would be celebrated across the State to spread the message of conservation of the
Himalayan ecosystems. 6. Min. qualification in Panchayati Raj polls Haryana Assembly has passed
Haryana Panchayati Raj (Amendment) Bill, 2015 that seeks to fix matriculation as minimum
educational qualification for elections to Panchayati Raj institutions (PRIs). Haryana becomes second
state in India after Rajasthan to fix educational and other qualifications for the candidates contesting
Panchayat elections. General candidates contesting the Panchayat elections should have class X
certificates i.e. matriculation as essential qualification. For Women (general) and Scheduled Caste
candidates, class VIII mark-sheet is mandatory. The educational qualification for SC candidates for
the post of panch is class V. Mandatory for the candidates contesting PRI elections to have functional
toilets and payment of power bills. Candidates should not have been charge-sheeted by any court of
law and must not be loan defaulters. 7. India & Indonesia Pact on criminal matters India and
Indonesia have signed a pact for repatriation of each others wanted prisoners and cooperate in all
criminal matters, including gathering evidence. Union Ministry of Home Affairs has issued an official
gazette notification for service or execution of summons or warrant in relation to criminal matters in
both countries. Under the agreement, India will execute summons to an accused person or to any
person requiring to attend and produce documents or a search-warrant issued by an Indonesian
court. Indonesia will reciprocate with similar action if there is any request from any Indian court. The
Home Ministry made it clear that such summons or warrant shall be sent to its Internal Security
Division-II for transmission to the central authority, that is, the Ministry of Law and Human Rights of
Indonesia. 8. India, Belarus to expand trade India and Belarus have set a trade target of $1 billion to
achieved by 2018. This target was decided at the Seventh Session of the India-Belarus InterGovernmental Commission that was held in Belarus capital Minsk on Monday. Minister of State
(Independent Charge) for Commerce and Industry Nirmala Sitharaman co-chaired the Seventh
Session of the India-Belarus Intergovernmental Commission on Trade, Economic, Scientific,
Technological and Cultural Cooperation.The Belarusian delegation was led by Vitali Mikhailovich
Vovk, the Minister for Industry in the Government of Belarus. During the meeting of India-Belarus Inter
Governmental Commission at Minsk, it was agreed by both the sides that the present level of trade at
$400 million did not reflect the true depth of engagement between the two countries. It was agreed to
set a target of $1 billion by the year 2018.
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GA- 11 September 2 weeks ago 8 Comments 4294 view(s) GA- 11 September 1. Tenth World Hindi
Conference The Tenth World Hindi Conference has begun in Bhopal, Madhya Pradesh with the theme
of Hindi Jagat-Vistar and Sambhavnaye. The 3-day event is organised by the Ministry of External
Affairs in cooperation with the Madhya Pradesh government in Bhopal, Madhya Pradesh. PM Modi
inaugurated the 10th Vishwa Hindi Sammelan (World Hindi Conference) at Lal Parade ground. Mr
Modi called for steps to preserve endangered languages and pointed to concerns voiced by scholars
that 90 per cent of the 6,000 languages world-over face the risk of becoming relics from the past. Mr
Modi also said that English, Chinese and Hindi will be influential in the digital world and cautioned
that if we forget Hindi, it will be a loss to the country. First World Hindi Conference held from 10 to 12
January 1975 in Nagpur. Seewoosagur and was inaugurated on 10 January 1975 by then Prime
Minister of India, Indira Gandhi. The decision to organize the 10th edition of the Conference in India
was taken at the 9th World Hindi Conference held in Johannesburg, South Africa in September 2012.
2. 21st Law Commission of India The Cabinet approved the constitution of the 21st Law Commission

of India, for a period of three years with effect from September 1. The Commission will consist of a
full-time chairperson and four full-time members (including a member-secretary) among others. It will
undertake research in law and review existing laws to make the necessary reforms, and enact new
legislations and it shall also undertake studies and research for bringing reforms in the justice delivery
systems for elimination of delay in procedures, speedy disposal of cases, reduction in cost of litigation
etc. The Law Commission of India is a non-statutory body constituted by the Government of lndia from
time to time. The Commission was originally constituted in 1955 and is re-constituted every three
years. The various Law Commissions have been able to make important contribution towards the
progressive development and codification of laws of the country. Law Commissions have so far
submitted 262 reports. The term of the 20th Law Commission headed by former Delhi High Court
Chief Justice A P Shah ended on 31 March 2015. 3. National web portal for apprenticeship training
The Government has launched a national web portal to promote a national apprenticeship scheme for
graduates, diploma holders, 10+2 pass-outs, and vocational certificate holders. The multilingual portal
ensures seamless connectivity with all stakeholders including students, establishments, and technical
institutions across the country for transparent administration. Union HRD Minister Smriti Irani also
released a logo and a slogan Sashakt Yuva, Samarth Bharat for the portal. The Ministry implements
the apprenticeship training scheme for one year through the Board of Apprenticeship Training
(BOATs)/ Board of Practical Training (BOPT) located at Mumbai, Chennai, Kanpur and Kolkata. This
portal enables door-step delivery of service, streamlines processes, and saves time for students, Irani
said. 4. INS Vajrakosh in Karwar Defence minister Manohar Parikkar commissioned INS Vajrakosh,
the latest establishment of the Indian Navy in Karwar, Karnataka. Together with INS Kadamba, 20 km,
away, it is now the worlds largest naval base east of the Suez Canal. Spread out over 1000 acres, the
new naval base would be the home base for a bulk of the Indian Navys strength on the western
coast. Indian Naval Station Vajrakosh which loosely translates to Thunder Chest was constructed
as the second phase of Project Seabird, which was initiated by the Centre in 1985. INS Kadamba had
been commissioned earlier. INS Vajrakosh alone is spread out over 600 acres. At the new naval base,
The Indian Navy will be positioning two aircraft carriers INS Vikramaditya and the indigenously built
INS Vikrant over 20 submarines in underground pens and 47 warships. Besides this, it will also
have a Naval air station that will base the Boeing P-8i, an advanced maritime surveillance aircraft that
is known as Poseidon. The facility will also feature a helicopter base. The Karwar base will cost the
Indian exchequer Rs. 25000 crore. The Karwar Base an exclusive Naval harbour will be prove to
be major advantage for the Navy. The Bombay, Cochin Harbours the two major Naval stations in the
Western Sea Board are over-crowded with commercial traffic. 5. Homo Naledi Scientists say theyve
discovered a new member of the human family tree, revealed by a huge trove of bones in a barely
accessible, pitch-dark chamber of a cave in South Africa. Researchers named the creature Homo
naledi (nah-LEH-dee). That reflects the Homo evolutionary group, which includes modern people
and our closest extinct relatives, and the word for star in a local language. The find was made in the
Rising Star cave system. The site, about 30 miles northwest of Johannesburg, has yielded some
1,550 specimens since its discovery in 2013. The fossils represent at least 15 individuals. These
species could have lived in Africa up to 3 million years ago. They have a tiny brain, a primitive pelvis
and shoulders. They have more progressive human like body shape of its skull and have relatively
small modern-looking teeth, primitive fingers, modern-looking feet and characteristic long legs.
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GA- 12 September 2 weeks ago 30 Comments 5343 view(s) GA- 12 September 1. IIP grows 4.2% in
July A higher-than-expected 4.2% growth in the Index of Industrial Production (IIP) or factory output
number for July compared to 4.4% (revised from 3.8%). The General Index for the month of July 2015
stands at 180.3, which is 4.2% higher as compared to the level in the month of July 2014. The Indices
of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July
2015 stand at 117.7, 190.7 and 190.3 respectively, with the corresponding growth rates of 1.3%, 4.7%
and 3.5% as compared to July 2014. The cumulative growth for the period April-July 2015-16 over the
corresponding period of the previous year stands at 3.5%. 3.The cumulative growth in the three

sectors during April-July 2015-16 over the corresponding period of 2014-15 has been 0.6%, 4.0% and
2.6% respectively. Reasons Manufacturing sector posted a growth of 4.7 per cent compared to a
contraction of 0.3 per cent during July 2014-15, capital goods production stood at an impressive 10.6
per cent compared to a contraction of 3 per cent during the same period last year. The mining sector
also witnessed some improvement, growing 1.3 per cent. What is IIP? The Index of Industrial
Production (IIP) is an index for India which details out the growth of various sectors in an economy
such as mining, electricity and manufacturing. The all India IIP is a composite indicator that measures
the short-term changes in the volume of production of a basket of industrial products during a given
period with respect to that in a chosen base period. It is compiled and published monthly by the
Central Statistical Organisation (CSO) six weeks after the reference month ends. The level of the
Index of Industrial Production (IIP) is an abstract number, the magnitude of which represents the
status of production in the industrial sector for a given period of time as compared to a reference
period of time. The base year was at one time fixed at 1993-94 so that year was assigned an index
level of 100. The current base year is 2004-2005. As IIP shows the status of industrial activity, you can
find out if the industrial activity has increased, decreased or remained same. Following table shows
the items & weightage of the items in the item basket comprising Manufacturing, Mining and
Electricity. Sector Weight (Weightage in %) Items Manufacturing 755.27 (75.527%) 620 Mining 141.57
(14.157%) 61 Electricity 103.16 (10.316%) 1 total 1000 682 The items included in the new series of
IIP are categorized into various use-based categories i.e., Basic goods, Capital goods, Intermediate
goods, Consumer durables and Consumer non-durables. The summary of different use-based
categories is given in Table Serial no. Use based category No. of item groups Weight 1 Basic goods
88 456.82 2 Capital goods 73 88.25 3 Intermediate goods 106 156.86 4 Consumer goods 132 298.08
4(i) Consumer durables 43 84.60 4(ii) Consumer non durables 89 213.47 2. CAD shrinks to 1.2 %
Indias current account deficit (CAD) narrowed to $6.2 billion (1.2 per cent of GDP) in April-June,
2015-16, from $7.8 billion (1.6 per cent of GDP) a year ago. Quarter CAD (Amount)( Bn $) CAD ( as
% of GDP) Apr- Jun 2015 6.2 1.2 Jan- Mar 2015 1.3 0.2 Oct- Dec 2014 8.3 1.6 July- Sep 2014 10.2
2.1 Apr- Jun 2014 7.8 1.6 Jan- Mar 2014 1.2 0.2 Reasons The merchandise trade deficit ($34.2 billion
during Q1 of 2015-16) which contracted on a year-on-year (y-o-y) basis due to a larger absolute
decline in merchandise imports relative to merchandise exports. Higher net earnings through services
Lower outflow on account of primary income (profit, dividend and interest) Other points Private
transfer receipts, mainly representing remittances by Indians employed overseas, amounted to $16.2
billion, a marginal decline from their level a year ago Net inflows of foreign direct investment were
higher on a y-o-y basis, however, portfolio investment declined sharply, almost entirely in the debt
segment Current Account Deficit: A measurement of a countrys trade in which the value of goods and
services it imports exceeds the value of goods and services it exports. The current account also
includes net income, such as interest and dividends, as well as transfers, such as foreign aid, though
these components tend to make up a smaller percentage of the current account than exports and
imports. The current account is a calculation of a countrys foreign transactions Along with capital
account is a component of a countrys balance of payment. 3. Rajasthan: 1st to submit plan under
AMRUT Rajasthan became the first state in the country to submit its annual action plan under the
newly launched Atal Mission for Rejuvenation and Urban Transformation (AMRUT) targeting universal
coverage in respect of water supply connections and sewerage connections to all urban households
in the state. The State Government has proposed projects under these two categories worth 1087
crore rupees for approval by the Union Urban Development Ministry during the financial year 2015-16.
The AMRUT projects are proposed to be taken up in 13 of the 28 AMRUT cities in Rajasthan, which
include Alwar, Beawar and Nagaur in which both water supply and sewerage projects will be taken up.
Water supply projects will be taken up in seven other cities of Baran, Bhiwar, Bhilwara, Chittorgarh,
Dhaulpur, Ganganagar City and Sujangarh. In Bhiwadi, Sikar and Udaipur, only sewerage and
septage management projects will be taken up. These cities/towns have been identified by the state
government in line with the principles of prioritisation suggested in the mission guidelines. The state
government has proposed Rs 555 crore to be spend on six sewerage and septage management
projects and Rs 344 crore on 10 water supply projects. The state government will implement some
mandatory reforms under AMRUT. It will create one website for each city, transfer all 18 functions to

urban local bodies, revise building bye-laws, set up single window clearance for building permissions,
ensure 90% coverage of tax revenue, undertake energy and water audit and migration to double entry
accounting system in the next 6 to 12 months. After broad scrutiny of the state annual action plans,
the union urban development ministry will release the first installment of 20% of project costs to the
states. AMRUT Atal Mission for Rejuvenation and Urban Transformation (AMRUT) is the new avatar
of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The purpose of Atal Mission for
Rejuvenation and Urban Transformation (AMRUT) is to (i) ensure that every household has access to
a tap with assured supply of water and a sewerage connection; (ii) increase the amenity value of cities
by developing greenery and well maintained open spaces (e.g. parks); and (iii) reduce pollution by
switching to public transport or constructing facilities for non-motorized transport (e.g. walking and
cycling). All these outcomes are valued by citizens, particularly women, and indicators and standards
have been prescribed by the Ministry of Urban Development (MoUD) in the form of Service Level
Benchmarks (SLBs). 4. Rakesh Sharma: MD and CEO of Canara Bank Rakesh Sharma was on 11
September 2015 appointed as Managing Director (MD) and Chief Executive Officer (CEO) of
Bengaluru-headquartered Canara Bank. Prior to this appointment, Sharma was the MD and CEO of
Lakshmi Vilas Bank since March 2014. 5. Indra Nooyi, 2nd most powerful women Indra Nooyi, CEO
of food and beverage giant PepsiCo is the sole Indian-origin executive in 2015 edition of Fortunes list
of 50 Most Powerful Women in Business. India-born Nooyi was placed at second position in this
years list and has moved up by single position from her previous third position in year 2015. This
edition of the list was topped by General Motors CEO Mary Barra. She heads United States largest
auto-maker and it is her second year as head. SPORTS NEWS 6. Paes-Hingis win US Open mixed
doubles title Leander Paes created history by winning the U.S. Open mixed doubles title with Swiss
partner Martina Hingis and surpassed compatriot and former partner Mahesh Bhupathis record. The
42-year-old Paes now has won nine Grand Slam mixed doubles titles, against Bhupathis eight. The
fourth seeded India-Swiss pair, edged past unseeded Americans Bethanie Mattek-Sands and Sam
Querrey 6-4 3-6 10-7 in a tricky final to win their third Major title together this season. Paes is now
only behind legendary Martina Navratilova, who won 10 mixed doubles trophies. Of those 10, two
came with Paes, when they won Australian Open and Wimbledon in 2003. With this win, Paes and
Hingis, who also won Australian Open and Wimbledon titles early this season, have become the first
mixed doubles team since 1969 to win three Grand Slam mixed doubles titles in the same year. It was
Paes 17th Grand Slam title overall and Hingis 19th. Hingis has won four Grand Slam titles and all of
them have come with Indians. 7. Abitha M Manuel & Anamika Das: Bronze at CYG Abitha Mary
Manuel and Anamika Das on 9 September 2015 won bronze medals at the 5th Commonwealth Youth
Games (CYG) in Apia in Samoa. Manuel won the medal in girls 800m race, while Das won it in shot
put event on the third and final day of athletics competitions. 8. Vikas: Silver in Asian Boxing
Championships Indian boxer Vikas Krishan (75kg) won the silver medal in the 2015 Asian Boxing
Championships. In the summit clash at Bangkok, Thailand, Vikas was defeated 0-2 by reigning Youth
Olympic champion Bektemir Melikuziev of Uzbekistan. With Vikas silver, India finished their campaign
with one silver and three bronze medals. L Devendro Singh (49kg), Shiva Thapa (56kg) and Satish
Kumar (+91kg) won the bronze medals. 9. Lahiri: 1st Indian to qualify for Presidents Cup Anirban
Lahiri becomes the first Indian golfer to qualify for a Presidents Cup. He will be part of the
International Team in the 2015 championship. The championship is scheduled to be held at Incheon in
South Korea between 2 October and 4 October 2015. Lahiri has received the Arjuna Award that
recognizes achievement in national sports in September 2014 Presidents Cup is a series of mens
golf matches between a team representing the USA and an International Team representing the rest
of the world minus Europe. Europe competes against the USA in a similar but considerably older
event, the Ryder Cup.
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GA- 13 & 14 September 2 weeks ago 6 Comments 4319 view(s) GA- 13 & 14 September 1. Defence
to tie up with Private sector The Govt plans to build strategic partnerships with the private sector and
has appointed a committee to formulate the guidelines for forging such partnerships in an effort to

speed up defence procurements and build domestic expertise in critical areas. A committee has been
appointed under the chairmanship of VK. Aatre, former chief of the Defence Research and
Development Organisation (DRDO), to formulate the guidelines in six critical areas and is expected to
submit its report in 3-4 weeks. The idea is to have one or two domestic firms with expertise in each
critical area which includes submarines, aircraft, missiles, electronic warfare systems, Unmanned
Aerial Vehicles (UAV) and critical materials and components. Once a domestic partner is selected
talks will be initiated with foreign technology provider or FDI partner to bring in the technology.
Defence Minister Manohar Prrikar stressed the need of selecting a right partner rather than the
lowest bidder. He said that through lowest bidder, you may end up with someone who is not capable.
There wont be repetition. If an X group has been taken in as a strategic partner in one segment, it will
not be considered for another segment. It can participate in partnership for other products. 2.
AUSINDEX15 begins Inaugural bilateral maritime exercise between India and Australia AUSINDEX15,
commenced off coast of Visakhapatnam. The exercise would start with a Harbour Phase,
encompassing briefings and practical demonstrations along with professional interactions. This would
progress to a Sea Phase which would include fleet manoeuvres, gun firings as well as coordinated
anti-submarine exercises. From Australia, Anzac class frigate, HMAS Arunta, oiler HMAS Sirius, and
Collins class submarine HMAS Sheean will participate in the exercise while the Indian Navy would be
represented by INS Shivalik (stealth frigate), INS Ranvijay (guided missile destroyer) and INS Shakti
(fleet tanker). In addition, one Royal Australian Air Force P3C Orion Surveillance Aircraft and the
Indian Navys P8I Maritime Patrol Aircraft will operate from Chennai during the exercise AUSINDEX15
naval exercise between navies of both countries is held in line with the Framework for Security Cooperation. The framework was announced by the Australian and Indian Prime Ministers in 2014. 3. Dr
G Satheesh Reddy, Royal Aeronautical Society Silver Medal DRDO (Defence Research and
Development Organisation) scientist Dr G Satheesh Reddy in the first week of September 2015 was
conferred with the Silver Medal of the prestigious Royal Aeronautical Society (RAeS). Dr Reddy was
conferred with this medal in recognition of his contributions as one of the leading navigation and
avionics experts of the Indian Defense research establishment. 4. US open 2015 The 135th US Open
was played on outdoor hard courts at the USTA Billie Jean King National Tennis Center. Mens Singles
Title World number one Novak Djokovic beat Roger Federer in four dramatic sets to win his second
US Open and 10th Grand Slam title. Womens Singles Title Italys Flavia Pennetta has lifted the
Womens Singles trophy of the US Open. Pennetta defeated compatriot Roberta Vinci (Italy). She is
the first Italian to win the US Open. Mens Doubles Title French pair of Pierre-Hugues Herbert and
Nicolas Mahut won the Mens Doubles trophy of the US Open. In the final match, they defeated,
Jamie Murray (United Kingdom) and John Peers (Australia) pair by 64, 64 score. Womens Doubles
Title Sania Mirza (India) and Martina Hingis (Switzerland) pair won the Switzerland womens Doubles
trophy of the US Open. In the final match, they defeated, Casey Dellacqua (Australia) and Yaroslava
Shvedova (Kazakhstan) pair by 63, 63 score. Mixed Doubles Title Leander Paes (India) and
Martina Hingis (Switzerland) pair won the Mixed Doubles trophy of Final Grand Slam of the US Open.
Obituary 5. Ramaswamy Iyer passes away Renowned water policy expert Ramaswamy R. Iyer
passed away in New Delhi following a severe bout of viral fever. He was instrumental in drafting
Indias first National Water Policy in 1987. Ramaswamy R. Iyer was born in October 1929 in Thakkalai
district of Tamil Nadu. He was best known for producing a rich body of commentary on water policy
and environmental issues. 6. Kalamandalam Sathyabhama passes away Classical dancer
(Mohiniyattam) Kalamandalam Sathyabhama passed away in Palakkad district of Kerala.S She was
regarded as a matriarch of Mohiniyattam and was well-known for her experimental reforms in this
classical dance form which helped to preserve and popularise the traditional art form. She also was
the first woman Vice Principal of Kerala Kalamandalam and later, became its Principal till she retired
in 1992. She was also well versed in other classical dances of Kerala Mohiniyattam is a classical
dance form from Kerala and is considered as a very graceful form of dance meant to be performed as
solo recitals by women. Believed to have originated in 16th century AD. It is one of the eight Indian
classical dance forms recognized by the Sangeet Natak Akademi.
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GA- 15 September 2 weeks ago 13 Comments 4222 view(s) GA- 15 September 1. Gujarat: Most
investor-friendly State Gujarat has come out on top in the World Banks first ever ranking of States on
the ease of doing business in India. The report, prepared on the request of the Modi government,
gains importance by coming before the World Banks annual Doing Business report, which ranks
nations and is expected to be released next month. States were assessed on the implementation,
over a six-month period from January to June, of a 98-point reforms agenda. Chief Secretaries of
States participating in the Make in India workshop inaugurated by Prime Minister Modi in New Delhi
last December finalised this action plan on Ease of Doing Business. It was decided later to evaluate
States to assess progress by June 2015. Gujarat implemented 71.14 per cent of the reforms,
according to the assessment. Andhra Pradesh came second with a score of 70.12 per cent,
Jharkhand third at 63.09 per cent, Chhattisgarh fourth with 62.45 per cent and Madhya Pradesh fifth
with 62 per cent. The largest recipients of foreign investments, Maharashtra and Tamil Nadu, are
ranked eighth and twelfth with less than 50 per cent scores. Other points The rankings reflect the
ease of doing business in these States by the small and medium enterprises rather than foreign
investors. The Union Department of Industrial Policy and Promotion, the Confederation of Indian
Industry, Federation of Indian Chambers of Commerce and Industry (CII) and KPMG were involved in
the exercise. The rankings of States will be released annually. The focus of the study is on eight key
areas. Here is the list with the best states in each area.: The setting up of a business- Punjab
allotment of land and obtaining construction permit- Madhya Pradesh complying with environment
procedures- Gujarat complying with labour regulations- Jharkhand obtaining infrastructure-related
utilities- Maharashtra registering and complying with tax procedures- Karnataka carrying out
inspections- Jharkhand enforcing contracts- Maharashtra 2. WPI contraction The official Wholesale
Price Index for All Commodities (Base: 2004-05=100) for the month of August, 2015 declined by 0.5
percent to 176.7 (provisional) from 177.5 (provisional) for the previous month. The annual rate of
inflation, based on monthly WPI, stood at -4.95% for the month of August, 2015 (over August, 2014)
as compared to -4.05% for the previous month (July 2015). WPI Components 1. Primary Articles
(Weight 20.12%)- rose by 1.7 percent Food Articles- The index for Food Articles group rose by 2.6
percent due to higher price of fruits & vegetables (10%), arhar (6%), gram and urad (3% each), bajra,
pork and maize (2% each) and masur, ragi, wheat, barley and condiments & spices (1% each).
However, the price of poultry chicken (6%), beef & buffalo meat (3%) and moong, tea and jowar (1%
each) declined. Non- food articles- The index for Non-Food Articles group rose by 0.8 percent due to
higher price of flowers (29%), copra (coconut) (8%), fodder and niger seed (7% each), safflower (kardi
seed) and cotton seed (3% each), castor seed and groundnut seed (2% each) and mesta, sunflower
and rape & mustard seed (1% each). However, the price of raw silk (12%), gaur seed (11%), raw
rubber (8%), soyabean (6%), gingelly seed (sesamum) (3%) and linseed and raw cotton (2% each)
declined. Minerals group- The index for Minerals group declined by 4.4 percent due to lower price of
phosphorite (9%), crude petroleum (7%), sillimanite and copper ore (5% each) and iron ore (2 %).
However, the price of zinc concentrate (8%) and chromite (2%) moved up. 2. Fuel & Power (Weight=
14.91%)- declined by 4.5 percent due to lower price of furnace oil (12%), aviation turbine fuel (11%),
high speed diesel (9%), petrol (3%) and bitumen (1%). 3. Manufactured Products
(Weight=64.97%)- declined by 0.4 percent Food Products group- declined Beverages, Tobacco &
Tobacco Products group- rose Textiles group -declined Wood & Wood Products group -rose Paper &
Paper Products group rose Leather & Leather Products group -rose Rubber & Plastic Products
group -declined Chemicals & Chemical Products group -declined Non-Metallic Mineral Products group
-rose Basic Metals, Alloys & Metal Products group -declined Machinery & Machine Tools group
-declined Transport, Equipment & Parts group -declined 3. 20 % safeguard duty on steel for 200 days
Finance minister Arun Jaitley on Monday announced the governments decision to impose a 20 per
cent safeguard duty on steel imports with immediate effect. The duty on specific steel products will be
valid for 200 days. This is perhaps the first time in nearly two decades that the government is taking a
series of moves to protect the domestic steel industry since it was liberalised in the early 90s.
Safeguard duty is a WTO-compatible temporary measure that is brought in for a certain timeframe to
avert any damage to a countrys domestic industry from cheap imports. These duties are levied on the
commodities by domestic governments/authorities to ensure that imports in excessive quantities do

not cause injury to the domestic industry. Safeguard duties are temporary measures in defense of the
Domestic Industry which is injured or has potential threat of injury due to sudden surge in imports.
WHY? In a bid to protect the domestic steel sector that is grappling with problems of low
demand. Domestic steel producers including the Steel Authority of India Ltd, Essar Steel and JSW
Steel had complained of a surge in imports of steel products like hot-rolled steel and other variants
from China, Korea, Japan and Russia. According to DGS, the market share of domestic producers
has been declining since 2013-14 and is likely to fall from 45 per cent to 37 per cent in 2015-16.
China, Japan and Korea accounted for 76 per cent of total imports which almost doubled to 7 mt from
3.8 mt. Imports of Chinese steel grew by 232 per cent, Japan by 18 per cent and Korea by 46 per
cent, according to steel ministry data. During April-June 2015, steel imports from China and Korea
went up by 49 per cent and 105 per cent from Japan, as per data from Joint Plant Committee. STEPS
Safeguard duty will be the latest in a series of steps taken by the NDA government to provide relief to
the steel industry. Earlier this year, basic customs duties on steel were raised twice in June and in
August by 2.5 per cent each time. However, in June an anti- dumping duty of up to $316 per tonne
was slapped on imports of hot rolled steel from China and other countries. In 2013, a safeguard duty
of 20 per cent was imposed on stainless steel (304 series) from China. 4. Andhra Pradesh unveils
new tourism policy The Andhra Pradesh government today unveiled a new tourism policy. The policys
objectives are to facilitate investments in the tourism sector to the tune of Rs 10,000 crore, raise its
contribution to 7 per cent of the state GDP and create 5 lakh additional jobs by 2020. The policy aims
to develop AP as one of the most preferred tourist destinations through sustained investments, robust
infrastructure projects and services, and provide world-class tourist experience. On first day of the
policy implementation, leading tour operators from across the country signed MoUs with the state
government entailing Rs 3,845 crore of investments or fund infusion on operations in AP. Under the
new policy, the TDP-led government has decided to set up a single desk for all tourism sector-related
clearances, which would be provided within 21 days. If a department fails to follow guidelines or clear
applications within the stipulated period, the officials concerned would be fined and face action. All
projects with investment above Rs 200 crore, irrespective of the location, will be treated as mega
tourism projects. Additional incentives and concessions on a case-to- case basis may be granted with
nod from agencies concerned. The document provides for incentives like reduction in VAT (from 14 to
5 per cent), reimbursement of land registration charges, waiver of entertainment tax for three years
and lower rate of electricity tariff, among others, for tourism plans. The government will set up two
bodies Green & Landscape Corporation and Swachh Andhra Corporation to improve forest cover
and promote cleanliness. 5. QS World University Rankings 2015-16 QS World University Rankings
2015-16 was released on 15 September 2015. It was the 12th edition in the series of annual global
university ranking list. Massachusetts Institute of Technology (MIT) of the USA was adjudged as the
top university in the world and Harvard the second. Indian Institute of Science-Bangalore (IISc-B) and
the Indian Institute of Technology-Delhi (IIT-D) were ranked 147 and 179 respectively. The six
performance indicators with corresponding weightages: Academic reputation (40%), Employer
reputation (10%), Student-to-faculty ratio (20%), Citations per faculty (20%), International faculty ratio
(5%) and international student ratio (5%). Among Asian universities National University of Singapore
topped the list with the 11th position. List of Indian University with Rankings- Here is the list of top 7
Universities University Rankings IISc-Bangalore 147 IIT-Delhi 179 IIT-Bombay 202 IIT-Madras 254 IITKANPUR 271 IIT-KHAGRAPUR 286 IIT-ROORKEE 391 6. Additional 50 days work under
MGNREGA The government has decided to provide an additional 50 days of manual work under the
Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in the current financial
year in those regions where drought has been declared. The MGNREGA otherwise provides 100 days
of assured work to each rural family. This will enable states to provide additional wage employment to
rural poor in drought-affected areas. The poorest rural households will benefit from this, as it will help
in immediate absorption of rural seasonal unemployment, and reduce rural distress. Earlier, the
government had announced diesel subsidy scheme for farmers to help save standing crops. It also
enhanced ceiling on seed subsidy to compensate the farmers in the drought affected districts for the
for the additional expenditure incurred in the re-sowing. The government has also announced
appropriate input support measures to rejuvenate water-stressed horticulture crops in drought-hit

areas. It has also decided to provide assistance for additional interventions for production of fodder for
mitigating adverse impact of drought on livestock in drought-hit blocks. That apart, the Centre has
made flexible allocation under the Rashtriya Krishi Vikas Yojana and other centrally sponsored
schemes. It has put in place crop contingency plan for 600 districts. 7. RBI, Nepal Rastra Bank for
supervisory info exchange Reserve Bank inked an agreement with Nepal Rastra Bank on exchange of
supervisory information. The Reserve Bank of India signed the Memorandum of Understanding (MoU)
on Supervisory Cooperation and Exchange of Supervisory Information with the Nepal Rastra
Bank(NRB). The Reserve Bank has so far entered into Memorandum of Understanding with
supervisors of 27 countries and Letter for Supervisory Co-operation and Statement of Co-operation
with supervisors of one country each to promote greater co-operation and share supervisory
information. 8. Tony Abbot ousted as Aus PM Australian Prime Minister Tony Abbott was ousted from
the power as leader of the ruling centre-right Liberal Party. He was ousted after he lost to challenger
Malcolm Turnbull in an internal party leadership ballot. In the ballot, Abbott received 44 votes while
Turnbull received 54 votes. With this, Turnbull, the former Communication Minister of Australia,
became Australias fourth prime minister since 2013 and overall he is the 29th Prime Minister of
Australia. This internal party leadership ballot was an outcome of the leadership challenge posed by
Turnbull claiming that Tony Abbott was incapable of providing the economic leadership the country
needs. 9. Hormusji N Cama: Chairman of PTI Hormusji N Cama was unanimously elected as the new
chairman of the Press Trust of India (PTI). He is the Managing Director of Bombay Smachar, which is
the oldest continuously-published newspaper in India from 1855. Riyad Mathew was unanimously
elected as the Vice Chairman of the PTI. Cama and Mathews were elected to the post during the
meeting of the Board of Directors following the PTIs 67th Annual General Meeting (AGM) held in New
Delhi. Press Trust of India (PTI) was registered in 1947 and started functioning in 1949. It is Indias
premier news agency, having a reach as vast as the Indian Railways. Currently, PTI commands 90
per cent of new agency market share in India.
Read more at: http://bsc4success.com/ga-15-september/
GA- 16 September 1 week ago 6 Comments 3715 view(s) GA- 16 September 1. Exports slide for
ninth straight month Trade deficit widened to $12.47 billion with import of the metal shooting up by 140
per cent in August from a year ago. However, the deficit has narrowed as compared with July, when
the figure stood at $12.81 billion. Exports fell for the ninth consecutive month, dipping by 20.66 per
cent in August to $21.26 billion on the back of a steep decline in engineering and petroleum
shipments. Imports, too, declined by 9.95 per cent to $33.74 billion. The data revealed that gold
imports increased to $4.95 billion in the month under review from $ 2.06 billion in August last year.
The main sectors which reported decline in exports include petroleum products (47.88 per cent),
engineering (29 per cent), leather (12.78 per cent), marine products (20.83 per cent) and carpet (22
per cent). Oil imports also dropped 42.59 per cent in August to $7.35 billion. Non-oil imports grew by
7.01 per cent to $26.38 billion. During the first five months (April-August) period, exports are down
16.17 per cent at $111.09 billion. Imports, too, have declined by 11.61 per cent to $168.6 billion,
resulting in a trade deficit of $57.5 billion. 2. SBI Card Launches SimplyCLICK SBI Card, one of
Indias leading credit card issuers, announced a strategic partnership with 7 of Indias biggest ecommerce players for its newest offering, the SimplyCLICK SBI Card. The collaboration is with the
leading players in the e-commerce industry Amazon India, BookMyShow, Cleartrip, FabFurnish,
Food Panda, LensKart and Ola Cabs all front runners in their respective categories. This latest
offering from SBI Card is a tailor made credit card for the generation that is always online and comes
with many features to ensure the best and most productive online shopping experience for the
consumers. It is the countrys 1st ever credit card that focuses on online shopping across diverse
categories. With this new product, SBI Card is poised to leverage the popularity of online shopping
and e-commerce in of online shopping and e-commerce in India. Customers can self-service their
SimplyCLICK SBI Card accounts through technology platforms such as the SBI Card Mobile App,
website and pull SMS channel The SimplyCLICK SBI Card will offer accelerated reward points to the
tune of 5X on all online spends made by customers. Additionally, the card will offer reward points to

the tune of 10X to cardholders on purchases made on partner sites. While the card offers one ongoing benefits via accelerated rewards, it has various annual milestones to reward customers for their
loyalty and extensive online spending behavior. A customer can get up to INR 4,000 worth of vouchers
by spending just Rs.2 Lakh annually via the online medium. It comes with a nominal fee of INR 499
and will reward customers with an Amazon e-gift welcome voucher worth INR 500. The cardholders
will receive reversal of the renewal fee on crossing annual spends of INR 1 Lakh. SimplyCLICK SBI
Card can also be used at all merchant outlets within India and worldwide. Extending the cards value
proposition to offline retail spends, SBI SimplyCLICK SBI Card will offer fuel surcharge waiver of 2.5%
across all petrol pumps in India. SBI Cards and Payment Services Private Limited (SBI Card) It is a
joint venture between State Bank of India and GE Capital to offer Indian consumers extensive access
to a wide range of world-class, value-added payment products and services. The partners have set up
two joint venture companies to develop a credit card business in India SBI Cards & Payment
Services Pvt. Ltd., which focuses on the marketing and distribution of SBI Card and GE Capital
Business Processes Management services pvt ltd , which handles the technology and processing
needs of SBI Card. 3. FedBook Selfie from Federal Bank Finance Minister Arun Jaitley launched
Federal Banks FedBook Selfie, Indias first mobile app for bank account opening. Federal Bank has
introduced this unique bank account opening app as an upgrade to FedBook, its e-passbook app,
which was a trendsetter at the time of its launch two years ago. To open an account, one has to
download the FedBook on the mobile phone and carry out the following steps take a selfie, scan
the Aadhaar and PAN cards. The app verifies the Aadhaar card in real-time and opens the account at
the click of a button. Once the account is opened, the app turns itself into the digital passbook for the
customer. 4. Bangladesh PM wins UN Award Bangladesh Prime Minister Sheikh Hasina has been
selected for the United Nations Champions of the Earth award. UN Environment Programme (UNEP)
has chosen her for this prestigious award in recognition of her countrys initiatives to address climate
change. The awards will be presented to her at a special ceremony to be held on September 27, 2015
at closing ceremony of United Nations Sustainable Development Summit 2015. Bangladesh is first
developing country to have a Climate Change Strategy and Action Plan which was prepared in 2009.
It is also the first country to set up its own Climate Change Trust Fund which is supported by nearly
300 million US dollars from 2009-2012. 5. Sunjeev Sahota shortlisted for 2015 Man Booker Prize
Indian-origin author Sunjeev Sahota has been short-listed for the prestigious 2015 Man Booker Prize
for Fiction. Sunjeev Sahotas novel The Year of the Runaways has been shortlisted which deals with
the life experience of illegal immigrants from the Indian subcontinent in Britain. He is among the 6
authors who have been short-listed for this edition of prize by judges panel chaired by Michael Wood.
Other short-listed authors are: Tom McCarthy (Britain), Anne Tyler (US), Marlon James (Jamaica),
Hanya Yanagihara (US) and Chigozie Obioma (Nigeria).
Read more at: http://bsc4success.com/ga-16-september/
GA- 17 September 1 week ago 10 Comments 3823 view(s) GA- 17 September 1. 10 Small banks
Reserve Bank of India (RBI) on Wednesday granted in principle approval to 10 companies to set up
small finance banks aimed at giving loans to farmers and small businesses. The selected applicants
are: Au Financiers (Jaipur), Capital Local Area Bank (Jalandhar), Disha Microfin (Ahmedabad),
Equitas Holdings (Chennai), ESAF Microfinance and Investments (Chennai), Janalakshmi Financial
Services (Bengaluru), RGVN (Northeast) Microfinance (Guwahati), Suryoday Micro Finance (Navi
Mumbai), Ujjivan Financial Services (Bengaluru) and Utkarsh Micro Finance (Varanasi). What they will
do? The small finance bank will primarily undertake basic banking activities of acceptance of deposits
and lending to unserved and underserved sections including small business units, small and marginal
farmers, micro and small industries and unorganised sector entities. There wont be any restrictions in
the area of operations of small finance banks. The minimum paid-up equity capital for small finance
banks shall be Rs 100 crore. The promoters minimum initial contribution to the paid-up equity capital
of such a small finance bank should at least be 40 per cent and gradually brought down to 26 per cent
within 12 years from the date of commencement of business of the bank. Process The RBI selected
these ten applicants after three different committees contributing to the final decision, backed by

detailed case study for each applicant. A preliminary scrutiny of all the applications involving prima
facie eligibility including the ability to raise the minimum initial capital and the status of ownership and
control by residents as per the guidelines was carried out by the RBI team. The findings of the
preliminary scrutiny were presented to an External Advisory Committee (EAC) constituted under the
chairmanship of Usha Thorat, former deputy governor of the RBI. The detailed scrutiny involved
assessment of financial soundness, proposed business plan, fit and proper status based on due
diligence reports received from the regulators, investigative agencies and banks. An important factor
was proposed reach into unbanked areas and underserved sections of the population. The inprinciple approval granted to the ten small banks will be valid for 18 months to enable the applicants
to comply with the requirements under the guidelines and fulfil other conditions as may be stipulated
by the RBI. On being satisfied that the applicants have complied with the requisite conditions, the RBI
would consider granting them a licence for commencement of banking business under the Banking
Regulation Act, 1949. Earlier steps for the Financial inclusion agenda The RBI had granted approval
to 11 entities for launching payments banks in August 2015. It had given approval to IDFC and
Bandhan to start universal banks last year. 2. Shyama Prasad Mukherji Rurban Mission Prime
Minister Narendra Modi approved the Shyama Prasad Mukherji Rurban Mission (SPMRM) with an
outlay of Rs 5142.08 crore.In an ambitious bid to transform rural areas to economically, socially and
physically sustainable spaces, the Union Cabinet chaired by The Mission aims at development of rural
growth clusters which have latent potential for growth, in all States and UTs, which would trigger
overall development in the region. These clusters would be developed by provisioning of economic
activities, developing skills & local entrepreneurship and providing infrastructure amenities. The
Rurban Mission will thus develop a cluster of Smart Villages. These clusters would be well delineated
areas with planned layouts prepared following the planning norms (as laid down in the State Town and
Country Planning Acts/similar Central or State statutes as may be applicable), which would be duly
notified by the State/UTs. These plans would be finally integrated with the District Plans/Master Plans
as the case may be. The State Governments would identify the clusters in accordance with the
Framework for Implementation prepared by the Ministry of Rural Development. The clusters will be
geographically contiguous Gram Panchayats with a population of about 25000 to 50000 in plain and
coastal areas and a population of 5000 to 15000 in desert, hilly or tribal areas. There would be a
separate approach for selection of clusters in Tribal and Non-Tribal Districts. For the selection of
clusters, the Ministry of Rural Development is adopting a scientific process of cluster selection which
involves an objective analysis at the District, Sub District and Village level, of the demography,
economy, tourism and pilgrimage significance and transportation corridor impact. The mission aims to
create 300 such Rurban growth clusters over the next 3 years, across the country. The funding for
Rurban Clusters will be through various schemes of the Government converged into the cluster. 3.
India, Cambodia sign two MoUs Vice-President Hamid Ansari signed two Memorandums of
Understanding on tourism, and on the Mekong-Ganga Cooperation Initiative with Cambodian
Prime Minister Hun Sen following a session of delegation-level talks. The Mekong-Ganga MoU related
to five quick impact projects, one of which was a $50,000-grant to Cambodia for the upgradation of
an Entrepreneurship Development Centre. The other four projects included two in healthcare,
especially to do with malaria, one on agriculture and one on womens empowerment. The tourism
MoU was aimed at boosting tourist movement between the two countries. Mr Ansari will visit the
famous Angkor Wat temple at Siem Reap in Cambodia and then travel to Vientiane, the capital of
Laos. 4. International Day for Preservation of Ozone Layer 16 September: International Day for the
Preservation of the Ozone Layer 21st International Day for the Preservation of the Ozone Layer was
observed across the world on 16 September 2015. The theme and the slogan for the year 2015 are
30 Years of Healing the Ozone Together and Ozone: All there is between you and UV respectively.
The Vienna Convention for the Protection of the Ozone layer was signed on March 22, 1985 and the
Montreal Protocol on substances that deplete the Ozone layer was signed on September 16, 1987.
India became Party to the Vienna Convention for the Protection of the Ozone Layer on March 18,
1991 and the Montreal Protocol on substances that deplete the Ozone layer on June 19, 1992. This
year marks the 30th anniversary of the Vienna Convention for the protection of the Ozone layer, an
important milestone for the protection of the Ozone layer. Montreal Protocol on Substances that

Deplete the Ozone Layer was signed on 16 September 1987. It has been recognized as the most
successful international environment treaty in history, which has received universal ratification; all
countries in the world have now ratified this landmark agreement. 5. Manpreet Kaur breaks national
record Railways shot putter Manpreet Kaur on 16 September 2015 shattered an 18-year-old national
record at the 55th National Open Athletics Championship at Kolkata. Patiala-based shot putter broke
the record of Harbans Kaur of 17.43 metres that came in 1997 by throwing 17.96 metres in her
second attempt to claim the gold medal, a hat-trick of titles at the National Open. With this, Manpreet
Kaur (25) also qualified for the Rio 2016 Olympics that is scheduled to be held from 5 August to 21
August 2016. The IAAF entry standard for 2016 Rio Olympics in womens shot put is 17.80m, while
the top three in London 2012 Olympics threw 20m plus. 6. Aqeela Asifi: 2015 Nansen Refugee
Award Afghan refugee teacher Aqeela Asifi was on 15 September 2015 awarded with the 2015
Nansen Refugee Award by United Nations High Commissioner for Refugees (UNHCR). Asifi
dedicated her life to bring education to refugee girls in Pakistan. UNHCRs Nansen Refugee Award
recognizes extraordinary humanitarian work on behalf of refugees, internally displaced or stateless
people. The award includes a commemorative medal and a 100000 US dollars monetary prize. This
prize money is further used by the laureate to fund a project that complements their existing work in
consultation with UNHCR. UNHCR was established on 14 December 1950 by the United Nations
General Assembly. 7. Hangzhou to host 2022 Asian Games Capital city of Zhejiang Province
Hangzhou in East China has been chosen by the Olympic Council of Asia (OCA) to host the 2022
Asian Games. Its the third Chinese city to host the Asian games following Beijing in 1990 and
Guangzhou in 2010. Asian Games also known as Asiad is a pancontinental multi-sport event (44
sports events) among athletes from all over Asia. It is held every four years and regulated and
organized by the OCA since 1982. It was first held in 1951 in New Delhi, India Incheon, South Korean
city had hosted last Asian Games in 2014, while Indonesias Jakarta will host it in 2018 Asian Games.
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GA- 18 September 1 week ago 10 Comments 4078 view(s) GA- 18 September 1. 8th Edition of
Global Innovation Index 2015 Indias ranking has slipped further to 81 in the list of Global Innovation
Index, compared to 76 in 2014, on account of factors like consistently poor performance in ease of
doing business, slow pace of policy decision-making and changing political environment. Over the last
four years, India has witnessed a reduction in its overall GII ranking, which dropped from 62nd place
in 2011 to 76th in 2014. Switzerland, the UK, Sweden, the Netherlands and the US are the worlds five
most innovative nations, according to the Global Innovation Index 2015, while China, Malaysia,
Vietnam, India, Jordan, Kenya, and Uganda are among a group of countries outperforming their
economic peers. The study, which ranked 141 economies across the world on their innovation
capacity and efficiency said that India has outperformed its peers in the Central and Southern Asian
Region (CSA) and positioned itself as innovation achiever in the lower-middle income category. Topscoring middle-income economies on innovation quality are China, Brazil and India with China
increasingly outpacing the others. Who Prepares? Cornell University- Research university located in
Ithaca,New York. INSEAD France- INSEAD is a graduate business school. World Intellectual Property
Organization (WIPO)- World Intellectual Property Organization (WIPO) is one of the 17 specialized
agencies of the United Nations. WIPO was created in 1967 to encourage creative activity, to promote
the protection of intellectual property throughout the world. WIPO currently has 188 member
states, administers 26 international treaties, and is headquartered in Geneva, Switzerland. 2.
Godavari, Krishna Rivers formally interlinked Godavari River was formally interlinked with the Krishna
River at Ibrahimpatnam near Vijayawada in Andhra Pradesh. 3,000 TMC of the Godavaris flood
waters flows into the Bay of Bengal every year. Successive Andhra Pradesh governments have been
trying to harness at least 10 per cent of this water and divert some of it into the Krishna, whose delta
faces an acute shortage of water for irrigation from June to August. While the plan is to eventually
divert water from the Polavaram dam, since the dam is still under construction and will take at least 4
to 5 years to be ready, the Chandrababu Naidu government decided to divert Godavari water from the
Pattiseema Lift Irrigation Scheme. The stored water by interlinking rivers at Prakasam Barrage in

Vijayawada will be diverted to irrigate paddy crop on 7 lakh acres in the Krishna, West and East
Godavari districts, which are often called the rice bowl of the country. 3. Pradhan Mantri Khanij
Kshetra Kalyan Yojana The Central Government announced the launch of the Pradhan Mantri Khanij
Kshetra Kalyan Yojana. (PMKKKY). This is a new programme meant to provide for the welfare of
areas and people affected by mining related operations, using the funds generated by District Mineral
Foundations (DMFs). Minister of Mines and Steel Shri Narendra Singh Tomar said, PMKKKY is a
revolutionary and unprecedented scheme of its kind, which will transform the lives of people living in
areas which are affected directly or indirectly by mining. The objective of PMKKKY scheme will be to
implement various developmental and welfare projects/programs in mining affected areas that
complement the existing ongoing schemes/projects of State and Central Government to
minimize/mitigate the adverse impacts, during and after mining, on the environment, health and socioeconomics of people in mining districts to ensure long-term sustainable livelihoods for the affected
people in mining areas. Care has been taken to include all aspects of living, to ensure substantial
improvement in the quality of life. High priority areas like drinking water supply, health care, sanitation,
education, skill development, women and child care, welfare of aged and disabled people, skill
development and environment conservation will get at least 60 % share of the funds. For creating a
supportive and conducive living environment, balance funds will be spent on making roads, bridges,
railways, waterways projects, irrigation and alternative energy sources. The Mines and Minerals
(Development & Regulation) Amendment Act, 2015, mandated the setting up of District Mineral
Foundations (DMFs) in all districts in the country affected by mining related operations. 4. NXT
DIGITAL Headend-In-The-Sky platform Shri Arun Jaitley, Union Minister of Finance, Corporate
Affairs and Ministry of Information & Broadcasting today launched the Headend In The Sky (HITS)
digital platform initiative, under the brand name NXT DIGITAL promoted by Hinduja Group. The NXT
DIGITAL Broadcast Centre is a state-of-the-art next-generation MPEG-4 facility that has been
designed and purpose-built to provide a variety of services to the cable distribution fraternity and their
customers all across India. The technology is future-proof and would offer enhanced television
experiences for the subscriber whilst allowing the cable fraternity to manage their networks effortlessly
using new-age cloud solutions, with a minimal investment. The back-end technology systems are
based on sophisticated and complex architectures that can even deliver unique services like television
access on mobile devices and tablets as well as information dissemination services to laser-targeted
localities by various agencies for Emergency Alerts etc. 5. Chanderpaul receives Icon Award Veteran
Test cricket left-hander Shiv Chanderpaul has been honoured with the Icon Award by the IndoCaribbean Alliance. In a ceremony held in New York recently, the 41-year-old was given the New York
City-based organisations highest award and was one of four persons honoured in a five-hour-long
ceremony in Flushing, reports CMC. Chanderpaul has been one of the most prolific run-scorers in
West Indies cricket, amassing 11,867 runs from 164 Tests at an average of 51. He is only second to
Brian Lara in aggregate. 5. Perumanna: First Panchayat in Kerala to declare a Water Policy In Kerala,
Perumanna Grama Panchayat in Kozhikode district has become the first Panchayat in the State, to
declare a water policy on the lines of the State governments water policy declared in 2008. The water
policy of Perumanna was drafted with the help of the Centre for Water Resources Development and
Management, Kunnamangalam, after a detailed study of water resources and usage in the Panchayat
over the last two years. The Panchayat has drafted a 13-point action plan to ensure proper utilisation
and conservation of water in its 18 wards. Thepolicy is to increase water literacy in the panchayat
through extensive water conservation and awareness programmes. The policy also seeks to make
panchayat garbage free by 2020, thus eliminating water pollution completely. Under the policy, Water
conservation committees will be formed at ward level as well as panchayat level.
Read more at: http://bsc4success.com/ga-18-september/
GA- 19, 20 & 21 September 5 days ago 2 Comments 2618 view(s) GA- 19, 20 & 21 September 1. PM
Narendra Modi launches IPDS Prime Minister Narendra Modi launched here the Rs 45,000-crore
Integrated Power Development Scheme (IPDS) which will strengthen distribution networks and
ensure 24X7 power supply to all by 2022. To start the scheme in Varanasi, PM laid foundation stone

of two power substations and Union Government will provide 572 crore rupees to implement it. The
IPDS will cover works relating to strengthening sub-transmission and distribution system, including
provisioning of solar panels, metering of distribution transformers/feeders/consumer in urban areas
and IT enablement of distribution sector. The Prime Minister also announced that two sub-stations will
be set up in Varanasi to help improve power distribution infrastructure in the city. Modi also appealed
to the people of Varanasi to replace incandescent bulbs with energy efficient LED lamps saying
this would bring revolution in the country. 2. E Sreedharan to serve UN High Level Advisory Group on
Sustainable Transport Metro Man E Sreedharan has been invited to the United Nations High Level
Advisory Group on Sustainable Transport (HLAG-ST). The service is for a period of three years and
Sreedharan has accepted the offer. Under his leadership, Konkan Railway and the Delhi Metro
projects were completed on time. He is known as Metro Man by the Indian media for his grand
success in executing the completion of the Delhi Metro on time and with stipulated budget. 4. National
Tourism Awards 2013-14 President Pranab Mukherjee on 18 September 2015 presented the National
Tourism Awards 2013-14 at a function held at Vigyan Bhavan in New Delhi. The National Tourism
Awards are presented annually by Union Ministry of Tourism to various segments of the travel,
tourism and hospitality industry. These awards are being given since the early 1990s. The awards are
awarded to State Governments, Union Territories, hotels, travel agents, tour operators and individuals
in recognition of their performance in their respective fields. Winners The state of Gujarat was
awarded for the Best State/UT for Comprehensive Tourism Development Heritage City Gwalior in
Madhya Pradesh as the Best Heritage City Municipal Council of Maheshwar (Distt.Khargone) in
Madhya Pradesh for Best Civic Management of a Tourist Destination in B Category. Gujarat has been
awarded as the Best Film Promotion Friendly State/Union territory. Department of Tourism of Kerala
received the award for Most Innovative use of Information technology. The Great backwaters of Kerala
by Kerala Tourism has been awarded the Best Tourism Film. 5. Vettel wins Singapore Grand Prix
Ferrari driver Sebastian Vettel from Germany has won 2015 Singapore Grand Prix of Formula One. It
was overall fourth victory for Vettel in Singapore Grand Prix as he had earlier won in 2011, 2012 and
2013. Earlier he had won Malaysian Grand Prix and Hungarian Grand Prix. Daniel Ricciardo
(Australia) of Red Bull and Kimi Raikkonen (Finland) of Ferrari were fourth and fifth respectively. 6. 21
Sept: International Day of Peace The International Day of Peace was observed on 21 September
2015 across the world to recognise the efforts of those who have worked hard to end conflict and
promote peace. The theme of International Day of Peace for the year 2015 is Partnerships for PeaceDignity for All. The International Day of Peace is observed around the world on 21 September every
year. The United Nations General Assembly has devoted this day to strengthen the ideals of peace,
both within and among all nations and peoples. The International Day of Peace was established in
1981 by resolution 36/67 of the United Nations General Assembly to coincide with its opening session,
which was held annually on the third Tuesday of September. The first Peace Day was observed in
September 1982. In 2001, the General Assembly by unanimous vote adopted resolution 55/282,
which established 21 September as an annual day of non-violence and cease-fire. 7. Ajay Jayaram:
Silver in Korea Open Indias Ajay Jayaram has won silver medal in 2015 Korea Open Badminton
tournament in the Mens singles category. In the final match played at Seoul, he lost to World no. one
Cheng Long of China by 14-21, 12-21 score settling to silver medal. With this Ajay Jayaram became
first Indian badminton player to win a medal in Korea Open Badminton tournament. The last time
Jayaram made it to the last-four stage of a Superseries was in 2012 in the China Masters.
Thereafter, he lost the race for the London Olympics berth to Parupalli Kashyap, suffered injuries and
was out of action for most part of the last three years. 8. BCCI President Jagmohan Dalmiya passes
away Board of Control for Cricket in India (BCCI) President Jagmohan Dalmiya passed away in in
Kolkata, West Bengal. He became BCCI president in 2001 for the first time and continued till 2004.
For second time, he became President of BCCI in March 2015. Dalmiya also had served as President
of the International Cricket Council (ICC) from 1997 to 2000. He was first Indian and first Asian to
head the ICC. He was also instrumental in organising cricket World Cups to the Indian sub-continent
in 1987 and 1996. 9. Jackie Collins passes away Jackie Collins, the bestselling author of dozens of
novels including Hollywood Wives that dramatised the lives of the rich and treacherous, died
Saturday. Collins died of breast cancer in Los Angeles. She was 77. In her four decades of writing

career, she had written more than 32 novels, all of them had appeared on The New York Times
bestsellers list.
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GA- 22 September 4 days ago 2 Comments 2063 view(s) GA- 22 September 1. Fast patrol and
interceptor vessels Two Coast Guard Ships Apoorva and C-421 were commissioned into the
service here today by Vice Admiral SPS Cheema, Flag Officer, Commanding-in-Chief, Western Naval
Command. ICGS Apoorva and C-421 have been designed and built by M/s Cochin Shipyard Limited
and L&T Limited, Surat, respectively. ICGS Apoorva, 14th in the series of 20, is a 50-meter long Fast
Patrol Vessel which displaces 317 tonnes and can achieve a maximum speed of 33 knots. The ship is
commanded by Commandant (JG) Dinesh Dogra with a complement of 5 officers and 34 ranks. It is
well-equipped to undertake close-coast surveillance, interdiction, search and rescue and medical
evacuation missions. Commissioned over one month ahead of the schedule, it will be based in Goa.
ICGS C-421 is an interceptor boat with 27.8 meter length and displaces 106 tonnes. The ship is
commanded by Deputy Commandant Rohit Kulkarni with a complement of one officer and 13 ranks. It
is a water jet propelled vessel, 27th in the series of IBs constructed by L & T Limited and can achieve
a maximum speed of 45 knots. The ship is being commissioned nearly two years ahead of schedule.
Fitted with medium range armaments, the ship is designed for close coast and shallow water
operations. The vessel is based at Androth (L&M Islands). Vice Admiral Cheema in his speech termed
the Fast Patrol Vessels as the workhorses of the Indian Coast Guard. 2. Shamim Hanfi: Jnangarima
Manad Alankaran award Renowned Urdu scholar Shamim Hanfi was honoured with the Jnangarima
Manad Alankaran by Bharatiya Jnanpith in New Delhi. The award was declared at the annual Kavita
Samay, an evening of poetry recitation by authors in Hindi and Urdu. The scholar is best known for his
books on criticism like, Ghazal Ka Naya Manzarnama, Jadidiyat ki Falsafiyani Asas and Infiradi
Shaoor aur Ijtemai Zindagi. Bharatiya Jnanpith instituted the Jnangarima Manad Alankaran award in
2015 to commemorate 70 years of the institution. The Bharatiya Jnanpith was founded in 1944 to
undertake systematic research and publication of Sanskrit, Prakrit, Pali and Apabhramsha texts and
covers subjects like religion, philosophy, logic, ethics, grammar, astrology and poetics. It annually
publishes books in Hindi (both original and translated works) and other languages, and also presents
the literary awards, the Jnanpith Awards and the Moortidevi Award, besides awards for upcoming
writers. 3. Nepal adopts new Constitution Nepal has adopted new Constitution marking the countrys
transition to a secular and democratic republic. The new Constitution was unveiled by Nepalese
President Ram Baran Yadav. arlier the Parliament had unanimously adopted the new Constitution by
a 507-25 votes in the 601 seat Constituent Assembly (CA) after seven years of painstaking
deliberations. The new constitution defines the Nepal, a majority Hindu nation as a secular republic
divided into seven federal provinces. The new Constitution has been drafted by second Constituent
Assembly (CA) which was elected in 2013. Chairman of CA was Subash Nemwang. The first CA
established 2008 after the abolishment of the Himalayan countrys 240-year-old Hindu monarchy was
not able to finish its task despite four extensions. Proclaimed in the name of Nepali people, the new
constitution has 35 parts, 308 articles and nine schedules. 4. Cow Becomes National Animal of Nepal
Cow, which is sacred to Hindus, has been declared the national animal of Nepal in the countrys
newly-unveiled secular Constitution. With this, the animal has constitutional protection and cow
slaughter has also been banned. 5. Alexis Tsipras wins Greece General Election Alexis Tsipras led
left-wing Syriza party has emerged as the largest party in the general (snap) elections to the Greeces
Parliament. In this election, Syriza party won 144 seats in the 300 seat Parliament by securing 35
percent of total votes. While the Conservative New Democracy Party has emerged second largest
party by winning 75 seats and Golden Dawn has emerged third largest party by winning 18 seats.
With about a quarter of votes counted, Tsiprass Syriza party was on course to claim 35.3 percent of
the vote, easily seeing off his main conservative challengers New Democracy on 28.1 per cent. He
called the election last month when his party split over his reversal on the 86 billion euro bailout,
which he had accepted despite having won a referendum mandate to reject similar terms. 6.
Egypts new PM Sherif Ismail Egyptian President Abdel Fattah al-Sisi today sworn-in a new

government, a week after the previous Cabinet resigned following a corruption scandal. Sherif Ismail,
who was Minister of Petroleum and Mineral Resources in the earlier government, took oath of office
as the new Prime Minister in the 33-member Cabinet that consists of three women and 16 new
members Former premier Ibrahim Mahlabs government resigned on September 12, days after the
arrest of Agriculture Minister Salah Helal as part of a corruption probe that is investigating several
officials for allegedly receiving over $1 million in bribes. Egypts governments in the past have been
mired with corruption allegations and has been in turmoil since the 2011 uprising that toppled Hosni
Mubarak.
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GA- 23 September 3 days ago 6 Comments 2003 view(s) GA- 23 September 1. ADB revises Indias
growth rate The Asian Development Bank slashed Indias growth forecast to 7.4 per cent in 201516 from its earlier projection of 7.8 per cent in March Reasons given: Weak monsoons Stalled
structural reforms Continued economic slowdown in developed economies. The ADB also revised
Indias GDP growth projection for next fiscal to 7.8 per cent from its earlier estimate of 8.2 per cent. It
also scaled down Chinas growth forecast to 6.8 per cent in 2015 on the back of weak exports and
slowdown in investments. Other cuts Just to remind you so that you dont forget the previous news.
Global Agency 2015 2016 S&P 7.9 (from 6.2) 8.2 ( from 6.6) FITCH 7.8 (from 8) 8.1 (from 8.3)
MOODYS 7 (from 7.5) 7.5 (from 7.5) In February, Standard & Poors sharply raised Indias growth
forecasts for the next several years to reflect a recent change in how gross domestic product is
calculated by the government, and said the economy should be a bright spot in Asia. They also
cited well rising investment and low oil prices. But that was back in February. Lately, Fitch and
Moodys lowered the growth forecast. Why they lowered the forecast? FITCH_ The reasons given
Deficient rains Lack of pick up in capital expenditure Weak Rural and export demand MOODYS _
The reasons given Below average monsoon Slow pace of reforms of the Modi Govt Moodys also said
The economic activity will continue to strengthen on the back of reforms that foster domestic and
foreign investment. Fall in inflation would lead to income gains resulting in consumption growth. And
now ADB is the latest that has lowered the growth rate. 2. FSSAI chief moved to NITI Aayog Yudhvir
Singh Malik, who presided over the ban of Nestl Indias Maggi noodles as chief executive officer of
the Food Safety and Standards Authority of India (FSSAI) in June, has been transferred to NITI
Aayogas additional secretary of the NITI Aayog. Malik is a Haryana cadre Indian Administrative
Service (IAS) officer of the 1983 batch. 3. SEBIs highest penalty The Sebi imposed a penalty of Rs
7,269.5 crore on Pearls Agrotech Corporation Limited (PACL) and its four directors. WHAT DID PACL
DO? PACL collected Rs 49, 100 crore from 5.85 crore customers over 15 years. They mobilised
funds from the general public through illicit collective investment schemes including in the name of
purchase and development of agriculture land. And this huge illegal mobilisation of money, lead to
consequent profit to the tune of over Rs 2,423 crore in a short span of less than one year. Thus they
duped the common man PENALTY Under Sebi norms, it can impose a penalty of Rs 25 crore or three
times of the profit made by indulging in fraudulent and unfair trade practices and in the present case
the regulator has imposed a fine equivalent to three times of the illicit gains. Securities and Exchange
Board of India (Sebi) said the company deserved maximum penalty for duping the common man.
BACKGROUND The penalty follows another order by Sebi last year wherein PACL was asked to
refund Rs 49,100 crore it had collected through illicit schemes over a 15-year period. The refund order
was also upheld last month by the Securities Appellate Tribunal, where PACL had filed an appeal.
NOTE: This is the biggest-ever amount, as also the largest number of investors, so far involved in a
case found to be running illegal money pooling scheme. The amount concerned is twice that collected
by the Sahara Group, which is said to have mobilised Rs 24,000 crore. 4. 24th Vyaas Samman: Hindi
writer Dr Kamal Kishore Goenka Eminent Hindi writer Dr Kamal Kishore Goenka was conferred with
24th Vyaas Samman for the year 2014 on 22 September 2015. He was awarded for his work
Premchand ki Kahaniyon ka Kaal Kramanusaar Adhyayan. The award was instituted in 1991 by the
KK Birla Foundation. It is presented to an outstanding literary work in Hindi published during the last
10 years. Vishwanath Tripathi received the award for the year 2013 for his memoir Vyomkesh

Darvesh that is a biography of the noted Hindi scholar Acharya Hazari Prasad Dwivedi. 5. Nooyi,
Bhartia: 2015 Global Leadership Award PepsiCo Chairman Indra Nooyi and Hindustan Times Group
chairperson Shobhana Bharatia have been presented with the 2015 Global Leadership Award of the
US India Business Council, for their commitment to driving a more inclusive global economy and their
roles as women leaders. Ms Nooyi and Ms Bharatia were honoured with this prestigious annual award
last evening during the annual gala of the USIBC, the top advocacy group for India and American
companies in the US. Renowned Indian-American artist, Natvar Bhavsar who is known for his abstract
expressionism and color-field painting was awarded the Artistic Achievement Award. 6. National
Health Profile (NHP)-2015 Union Health and Family Welfare Minister J P Nadda, released the
National Health Profile (NHP)-2015 prepared by the Central Bureau of Health Intelligence (CBHI). The
E-book (digital version) of the annual document, which has been prepared for the first time, was also
released. The National Health Profile covers demographic, socio-economic, health status and health
finance indicators, along with comprehensive information on health infrastructure and human
resources in health. The CBHI has been publishing National Health Profile every year since 2005.
This is the 11th edition. The NHP highlights substantial health information under six major indicators
Demographic, Socio-Economic, Social, Economic, Employment, Housing and Amenities, Drinking
Water and Sanitation and Health Status.
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GA- 24 September 2 days ago 2 Comments 2028 view(s) GA- 24 September 1. Bank of Maharashtra
launches MUDRA Card Bank of Maharashtra has launched Mudra card to meet the credit
requirements of micro and small entrepreneurs. The card was launched by the Chairman-cumManaging Director, S Muhnot, on the occasion of the banks 81st foundation day celebrations today.
Issued as a Rupay debit card, the Mudra card is a flexible credit product that meets the working
capital needs of micro and small entrepreneurs as cash can be withdrawn from any ATM or
merchandise purchased using POS machine. The Mudra scheme was launched by the Prime
Minister, Narendra Modi, with an aim to fulfill the needs of micro/small entrepreneurs engaged in all
non-farm sector income-generating activities such as manufacturing, trading and services whose
credit needs are up to Rs. 10 lakh. Bank of Maharashtra is offering Mudra loans at base rate and no
processing charges are levied for loans up to Rs. 5 lakh. Other banks has also launched Mudra Card
like Corporation Bank, Karnataka Bank and Andhra Bank. MUDRA Card is an innovative credit
product wherein the borrower can avail of credit in a hassle free and flexible manner It will provide a
facility of working capital arrangement in the form of CC/OD to the borrower. ( CC- Cash Credit and
OD- Overdraft) Since MUDRA Card will be a RuPay Debit Card, it can be used for drawing cash from
ATM or Business Correspondent or make purchase using Point of Sale machine. Facility is also there
to repay the amount as and when surplus is available, thereby reducing the interest burden. 2. NITI
forms expert panel on land lease Government think-tank NITI Aayog has constituted an expert group
on land leasing, headed by former CACP chairman T Haque, besides extending the task force on
agriculture development up to October, 2015. The 10 member committee will have representation
from Andhra Pradesh, Uttarakhand, Punjab, Maharashtra, Assam, Rajasthan, Meghalaya and Joint
Secretary H S Meena from the Department of Land Resources. J P Mishra, Adviser (Agriculture) in
NITI Aayog will be the member secretary. The terms of the reference of the expert committee are to
review the existing agricultural tenancy laws of states, including hilly states and schedule areas, to
examine the distinctive features of land system in erstwhile zamindari, ryotwari and mahalwari areas.
Besides, it would suggest appropriate amendments, keeping in view the need to legalise and
liberalise land leasing for much needed agricultural efficiency, equity, occupational diversification, and
rapid rural transformation. It will also prepare a model agricultural land leasing act in consultation with
states. NITI extend Task force report The task force on agriculture constituted on March 16, 2015,
headed by NITI Aayog Vice Chairman Arvind Panagariya, was earlier expected to finalise its report by
August 31. The task force is to frame policy recommendations in areas such as land, national
common market, crop prices, fertiliser use, seeds and genetically modified (GM) technology, and
agrarian distress. 3. Court is Indias official entry to Oscars Chaitanya Tamhanes debut Marathi

movie Court, a courtroom drama which won a National Film Award, was chosen as Indias official
entry for the Best Foreign Language Film category at the 88th Academy Awards. Featuring impactful
performances by actors Vivek Gomber, Vira Sathidar, Geetanjali Kulkarni, Pradeep Joshi, Usha Bane
and Shirish Pawar, the movie did its fair share of rounds at foreign movie galas after premiering at the
71st Venice International Film Festival last year. Last year, Liars Dice, a road drama starring
Geetanjali Thapa and Nawazuddin Siddiqui in lead roles, was selected as Indias official entry to the
Best Foreign Film category of Oscars, but it failed to make it to the top five at the Academy Awards.
The 88th Academy Awards ceremony will be held on 28 February, 2016. 4. Mukesh Ambani
tops Forbes India rich list Industrialist Mukesh Ambani has been named Indias richest for ninth year in
a row with a net worth of $18.9 billion even as his wealth dipped by $4.7 billion in a year, while
ecommerce giant Flipkarts founders made their debut on the countrys top 100 rich list. As per Forbes
magazines latest India rich list released, Ambani was followed by Sun Pharmas Dilip Shanghvi as the
second richest with a net worth of $18 billion, while Wipros Azim Premji retained his third place with
$15.9 billion. Flipkarts co-founders Sachin and Binni Bansals made their debut at 86th position with a
net worth of $1.3 billion each. The combined wealth of Indias 100 richest persons remained largely
unchanged at $345 billion, compared with $346 billion in 2014, Forbes said. The magazine said the
Indian economy was estimated to grow 7 percent this year, but the wealth of many of Indias 100
richest has declined due to the fall in the stock markets and depreciation of the rupee over the past
one year. In the top ten, Hinduja brothers were ranked 4th with $15.9 billion, followed by Pallonji
Mistry at $14.7 billion, Shiv Nadar ($12. 9 billion), Godrej family ($11.4 billion), Lakshmi Mittal ($11.2
billion), Cyrus Poonawala ($7.9 billion) and Kumar Mangalam Birla ($7.8 billion). 5. Lalita Prasid wins
award at Google Science Fair Lalita Prasida Sripada Srisai, a class IX student from Damanjodi in
Koraput district in Odisha won the Community Impact Award at the prestigious Google Science Fair
in California. This student of DPS Damanjodi developed a low-cost bio-absorbent based water purifier
which uses waste corn cobs as key ingredient. She has won the award in 13-15 years age group. The
winners of the fifth annual Google Science Fair were announced live from Google Headquarters in
Mountain View, California. As part of this award, Lalita received 10,000 US dollars as prize money.
Lalita will be further supported for one year by the organisation to build on her project.
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GA- 25 September 1 day ago 4 Comments 1783 view(s) GA- 25 September 1. MEA Team reshuffle
Syed Akbaruddin, an Additional Secretary in the MEA, has been made the Permanent Representative
of India (PMI) at the United Nations in New York. Gautam Bambawale, Indias ambassador to Bhutan,
will take over from TCA Raghavan as high commissioner to Pakistan when the latter retires in
December. Navtej Sarna, presently secretary (west) in MEA will be Indias next high commissioner to
London. Anil Wadhwa, secretary (east), will go to Rome, which has become more prominent given the
level of Indian economic interests. 2. Sourav Ganguly: CAB president Former Indian Cricket team
captain Sourav Ganguly has been appointed as President of Cricket Association of Bengal (CAB).
Sourav Ganguly will succeed Jagmohan Dalmiya. The post had fallen vacant after the sudden demise
of Dalmiya at the age of 75 on 20 September 2015. Prior to this appointment, Ganguly was the Jointsecretary of the CAB. 3. EPFO gets Skoch Awards for smart governance initiatives The Employees
Provident Fund Organisation (EPFO) has received the SKOCH Award for smart governance for its
initiatives on UAN programme and transformation of social security agenda in India. Congratulating
EPFO for the fifth award in the last two years, Minister of State (Independent Charge) Labour and
Employment Bandaru Dattatreya expressed hope that this will motivate EPFO to launch further egovernance initiatives for the welfare of various stakeholders. The EPFO was also awarded two
SKOCH Order-of-Merit, one for launching the UAN for EPFO members and another for transformation
of Social Security Agenda in India. The Employees Provident Fund came into existence with the
promulgation of Employees Provident Fund ordinance and then was replaced by employees
provident fund act, 1952. The Organisation came into being in 1952, following the Employees
Provident Funds & Miscellaneous Provisions Act (EPF & MP Act), 1952. Later on many additions and
alteration were done for enhancing the situation on employees. The EPFO head office is located in

New Delhi. EPFO is vested with the responsibility of implementing the scheme framed under this act
namely Employees Provident Fund Scheme Employees Pension Scheme Employees Deposit linked
Insurance Scheme EPFO works unde4r the administrative control of Ministry of Labour and
Employment. 4. Arvind Pangariya to be the new sherpa for the G20 Talks Government has decided to
appoint NITI Aayog Vice-Chairman Arvind Panagariya as the sherpa for G-20 talks, replacing Railway
Minister Suresh Prabhu. As per the practice, the Deputy Chairman of the erstwhile Planning
Commission used to be the sherpa for G-20 talks. During the decade long UPA regime, former Deputy
Chairman of the Commission, Montek Singh Ahluwalia was the sherpa for G-20 talks. The next G20
Leaders Summit is scheduled on November 15-16 at Antalya in Turkey. 5. Facebook rebrands
internet.org as Free Basics by Facebook Facebook has renamed what it had termed its internet
access enabling platform, internet.org as Free Basics by Facebook. Internet.org will remain as a
wide and overarching entity, which includes the provision of free basic services apart from other
projects such as enhancing connectivity (through its Connectivity Lab) and an innovation lab. The
announcement of an open platform for websites and services on internet.org had already been made
in May 2015 by CEO Mark Zuckerberg. The open platform and the new services offered on them are
going live with the re-launch of Free Basics by Facebook which is available as a downloadable app as
well as a mobile website. Facebook has an ongoing tie-up with Reliance Communications in India to
provide services through internet.org. Facebooks Strategic Partnerships Director Ime Archibong said
that some of the new free and basic services that have added via the open platform in India include
websites that cater to healthcare (Meradoctor), farming (mKisan), English learning (Englishdost),
weather forecasting (Skymet) etc. Facebooks internet.org had come under widespread criticisms in
India because of concerns about violations of net neutrality. 6. Uninor rebrands as Telenor Telecom
service provider Uninor has rebranded itself as Telenor in India. The company also has changed its
tag to Ab life full paisa vasool from Sabse Sasta. The company will be spending around Rs. 100
crore on the rebranding exercise Norway-based Telenor entered India in 2009. Initially it had a joint
venture with realty major Unitech, which however exited in 2012. The company subsequently started
operating with the name of Telewings, and in 2014, Telenor bought 100 per cent stake in the company.
India contributes 6 per cent of the global revenue of the company and 12 percent of the Asian
revenue. 7. Volkswagen CEO Winterkorn resigns Volkswagen CEO Martin Winterkorn resigned,
taking responsibility for the German carmakers rigging of U.S. emissions tests in the biggest scandal
in its 78-year history. The U.S. Environmental Protection Agency (EPA) said Volkswagen could face
penalties of up to $18 billion for cheating emissions tests on some of its diesel cars.
Read more at: http://bsc4success.com/ga-25-september/
GA- 26 September 5 hours ago 0 Comments 769 view(s) GA- 26 September 1. UN adopts agreement
on Sustainable Development Goals United Nations on 25 September 2015 unanimously adopted an
ambitious agreement on the outcome document New Sustainable Development Agenda for the next
15 years i.e. till 2030. The document in this regard was adopted in 70th session of United Nations
General Assembly (UNGA) and was announced by its President Mogens Lykketoft at the UN
headquarters in New York. The document, titled Transforming our World: The 2030 Agenda for
Sustainable Development, outlines 17 broad goals and sets 169 specific targets. These are nonbinding goals. It succeeds the eight Millennium Development Goals adopted by world leaders 15
years ago in Rio 20+ summit of United Nations Conference on Sustainable Development. Only one of
those has been achieved: halving the number of people living in extreme poverty. At least one other is
close cutting in half the proportion of people without access to clean water and there are still
three months until the goals expire. Sustainable Development Goals (SDGs) outlines broader
sustainability agenda dealing with five Ps people, planet, prosperity, peace, and partnership. The
new goals include ensuring healthy lives and quality education for all, clean water, sanitation and
reliable modern energy, as well as making cities safe, reducing inequality within and among countries,
and promoting economic growth and good governance Critics: SDGs are too broad, lack
accountability and will lead to disenchantment among those most in need of hope. 2. UK hosts first
Bhagvad Gita conference A first-of-its-kind conference on the contemporary relevance of the

Bhagvad Gita was held in the UK, during which Indian and British experts came together with an aim
to seek answers to the innumerable questions that exercise and confound all of us today. The ICCR
(Indian Council of Cultural Relations) and the High Commission of India organised the conference in
collaboration with the Department of the Study of Religions at the School of Oriental and African
Studies (SOAS), University of London. Experts and historians from India and Britain got together for
the two-day sessions which included aspects such as Bhagvad Gita and Yoga, Impact of Bhagvad
Gita on Modern Sanskrit Writings and The Bhagvad Gita Timeless Values for Today. The initiative
of bringing together the delegation for the London conference was led by Suryakanthi Tripathi, former
Indian ambassador to Spain. 3. Graphic booklet on Sardar Post Union Home Minister Shri Rajnath
Singh released a graphic booklet depicting the valour and sacrifice of the CRPF personnel during the
epic battle of Sardar Post, Rann of Kutch in the 1965 lndo-Pak War. On 9th April, 1965, at the Sardar
Post in the Rann of Kutch, two companies of CRPF stood their ground and repulsed the attack of a
full-fledged Pakistani Infantry Brigade inflicting heavy casualties. The retaliation by the CRPF men
was such a profound shock to the Pakistani Army that they left behind 34 dead bodies including 02
officers. Four Pakistani soldiers were taken as prisoners. Six CRPF men made supreme sacrifice for
the cause of the nation. CRPF plans to publish a series of graphic booklets depicting various tales of
valour and sacrifice of the Force. The aim is to instill patriotism and nationalism in the young
generation and also to let the people know about the gallantry and sacrifice of the unsung heroes of
CRPF. The force also plans to raise funds through marketing of these booklets, which will be spent on
the welfare of the families of martyrs. 4. Volkswagen AG appoints Matthias Mueller as new CEO
German auto maker Volkswagen AG has appointed Matthias Mueller as its new chief executive officer
(CEO). Prior to this appointment, he was serving as CEO of Volkswagens subsidiary Porsche AG. He
will succeed Martin Winterkorn who had resigned from office following an emissions cheating scandal
described as a moral and political disaster. The scandal had damaged the reputation of worlds largest
car manufacturers in terms of sales and had threatened its business. Currently, US Environmental
Protection Agency (USEPA) is investigating into Volkswagen over the Diesel Dope scandal. 5.
US Baseball legend Yogi Berra passes away Baseball legend Yogi Berra from United States has
passed away. He was 90. His humorous quotes had made him one of Americas most beloved sports
icons. He also had inspired the famous cartoon character of Yogi Bear. He is one of only five players
to win the American League Most Valuable Player Award for three times. He is widely regarded as
one of the greatest catchers in baseball history. He was also elected to the Baseball Hall of Fame.
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