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Final GK Power Capsule For Rbi Assistant Mains 2017 by Gopal Sir and Team PDF
Final GK Power Capsule For Rbi Assistant Mains 2017 by Gopal Sir and Team PDF
GK POWER CAPSULE
FOR
RBI ASSISTANT/
IPPB MAINS
& IDBI PO
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GK POWER CAPSULE FOR RBI ASSISTANT | IPPB & IDBI PO(MAINS) 2017
MUST DO CURRENT AFFAIRS TOPICS
62nd Filmfare Awards 2017 declared: Aamir Khan & Alia Best Actor in Motion Picture or Musical or Comedy: Ryan
Bhatt Bags Top Honour Gosling for La La Land.
Best Actress in Motion Picture Musical or Comedy:
At the glittering Filmfare awards, "Dangal" swept away three Emma Stone for La La Land.
of four major awards -- Best Film, Aamir Khan won Best Actor Best Original Score-Motion Picture: Justin Hurwitz for the
and Nitesh Tiwari won Best Director award while Alia La La Land.
Bhatt won the Filmfare Best Actor Award (Female) for her Best Original Song: City of Stars (Justin Hurwitz, Pasek &
performance in "Udta Punjab". Paul) for the La La Land.
Best Foreign Language Film: Elle (France).
The winners of 62nd Jio Filmfare Awards are following:-
Best Choreography : Adil Shaikh - Kar gayi chul (Kapoor & ICC Awards 2016 announced: It was all Kohli there
Sons) Ravichandran Ashwin has won both the ICC Cricketer of the
Best Editing: Monisha R Baldawa - Neerja Year and the ICC Test cricketer of the Year award after he was
Best Lyrics: Amitabh Bhattacharya Channa mereya (Ae Dil named as the only Indian in ICCs Test Team of the Year. Virat
Hai Mushkil) Kohli was named the captain of the ICC ODI Team of the
Best Story: Shakun Batra and Ayesha Devitre - Kapoor & Year. Misbah-Ul-Haq won the ICC Spirit of Cricket Award at
Sons the 2016 ICC Awards as he became the first Pakistan player to
Best Dialogue: Ritesh Shah - Pink win the award.
Best Playback (Male) : Arijit Singh Ae dil hai mushkil (Ae
Dil Hai Mushkil)
Best Playback (Female) : Neha Bhasin Jag Ghoomeya
(Sultan)
Best Music Album: Pritam Ae Dil Hai Mushkil
Best Actor In A Supporting Role (Female) : Shabana Azmi
- Neerja
Best Actor In A Supporting Role (Male) : Rishi Kapoor -
Kapoor & Sons
Best Debut Director : Ashwiny Iyer Tiwari - Nil Battey
Sannata
Best Debut (Male) : Diljit Dosanjh- Udta Punjab
Best Debut (Female) : Ritika Singh - Saala Khadoos
Critics' Award For Best Actor (Female) : Sonam Kapoor -
Neerja
Critics' Award For Best Actor (Male) : Manoj Bajpayee
Aligarh & Shahid Kapoor - Udta Punjab The full list of ICC Award 2016 winners is:
Critics' Award For Best Film : Ram Madhvani- Neerja 1. ICC Cricketer of the Year (Sir Garfield Sobers Trophy)
Best Actor (Female) : Alia Bhatt- Udta Punjab Ravichandran Ashwin (India)
Best Director : Nitesh Tiwari- Dangal 2. ICC Test Cricketer of the Year Ravichandran Ashwin
Best Actor (Male) : Aamir Khan - Dangal (India)
Best Film: Dangal 3. ICC ODI Cricketer of the Year Quinton de Kock (South
Lifetime Achievement Award : Shatrughan Sinha Africa)
4. ICC Womens ODI Cricketer of the Year Suzie Bates (New
74th Golden Globe Awards 2017 announced Zealand)
The 74th Annual Golden Globe Awards ceremony was 5. ICC Womens T20I Cricketer of the Year Suzie Bates (New
organized at Beverly Hills, California, United States (US). This Zealand)
year, La La Land, a romantic musical comedy-drama film won in 6. ICC T20I Performance of the Year Carlos Brathwaite
all the seven categories including the top award for best musical (West Indies ) (34 not out, 10 balls, 1x4, 4x6, ICC WT20 India
or comedy. Veteran actress Meryl Streep was bestowed with 2016 final v England, Kolkata)
the Cecil B. DeMille Lifetime Achievement Award. 7. ICC Emerging Cricketer of the Year Mustafizur Rahman
(Bangladesh)
Winners of various awards are as follows: 8. ICC Associate/Affiliate Cricketer of the Year Mohammad
Best Motion Picture Drama: Moonlight. Shahzad (Afghanistan)
Best Motion Picture Musical/Comedy: La La Land. 9. ICC Spirit of Cricket Award Misbah-ul-Haq (Pakistan)
Best Director in Motion Picture-Drama: Damien Chazelle 10. ICC Umpire of the Year (David Shepherd Trophy)
for La La Land. Marais Erasmus
Best Actor in Motion Picture-Drama: Casey Affleck for
Manchester by the Sea. Pradhan Mantri Garib Kalyan Yojana commenced
Best Actress in Motion Picture-Drama: Isabelle Huppert Lok Sabha has passed the Pradhan Mantri Garib Kalyan
for Elle. Yojna (2nd Amendment) Bill, 2016. The new bill attempts to
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GK POWER CAPSULE FOR RBI ASSISTANT | IPPB & IDBI PO(MAINS) 2017
impose a higher rate of tax and penalty in respect of repo rate unchanged at 6.25%. It has has withdrawn the
undisclosed incomes. incremental cash reserve ratio (CRR) of 100%.
PMGKY is govt. second income disclosure scheme (IDS) to
allow tax evaders to come clean with unaccounted wealth. Key Points from the 5th Bi-monthly monetary policy
It came into effect from 17 December 2016 and it will statement
remain open until 31 March , 2017. RBI keeps repo rate unchanged at 6.25%, reverse repo at
The deposit shall be made by any person who declared 5.75%.
undisclosed income under PMGKY. RBI leaves cash reserve ratio (CRR) unchanged at 4%.
The deposit sum, shall not be less than 25% of the declared It cuts growth forecast to 7.1%, from 7.6% for this fiscal.
undisclosed income. It keeps the inflation target at 5% for March 2017.
The deposits shall be held at the credit of the declarant in Foreign exchange reserve rose to all-time high of $364
Bonds Ledger Account (BLA) maintained with RBI and billion on 2 December.
would be repaid on expiry of four years.
India defeated England by 4-0 to win the Anthony De Mello
Rules of this Scheme trophy 2016
1. Declarant have to deposit 25% of the undisclosed income. Ravindra Jadejas 7/48 in the second innings against England on
2. Declarant has to pay 30% tax at this income plus a penalty the last day helped India to defeat England by an innings & 75-
rate of 10% will be there. run in Chennai to clinch Anthony De Mello series 4-0. Jadeja took
3. A surcharge at 33% of tax will also be levied & will be named 10 wickets in the match & this was his first 10-wicket haul in a
as Pradhan Mantri Garib Kalyan Cess Test.
With this, India have now been unbeaten in 18 Tests & this is a
Lucky Grahak Yojana, Digi Dhan Vyapar Yojana launched new record for the team.
GOI launched Lucky Grahak Yojana for Consumers and Digi- Virat Kohli is the man of the series for his 655 runs in this series.
Dhan Vyapar Yojana for Merchants to promote digital Also, India end 2016 as the number one ranked team in the
transaction. world Karun Nair is the man of the match for his excellent triple
The schemes are aimed at encouraging people to move towards ton.
significantly higher usage of digital transactions through the Some records which were created in the series:
offer of incentives. Indian test captain Virat Kohli set a new record by
The primary concern being to move the transaction platform remaining undefeated for 18 consecutive tests. The previous
from a physical cash economy to a cashless society, the schemes record of 17 is under former captain Kapil Devs captaincy
promotes digital payment methods amongst the consumers by between 1985-1987.
the Lucky Grahak Yojna & merchants through the Digi Dhan Virat Kohli became the first Indian captain to register three
Vyapar Yojna. double centuries in a calendar year.
Indias 759/7 in the Chennai test is also the highest-ever
Acclaimed Bengali poet Shankha Ghosh to get 2016 Jnanpith team score in test.
Award Alastair Cook is the tenth batsman to complete 11,000 runs
Bengali poet & literary critic Shankha Ghosh will get the Jnanpith in tests.
Award for 2016. The award is given for exceptional contribution
in the field of literature. CHAK DE INDIA: India won the Junior Mens Hockey World
Shankha Ghosh born in Chandipur, present day Bangladesh is a Cup 2016
leading authority on Rabindranath Tagore. He has earlier won Indian team scripted a new chapter in hockey history by
the Sahitya Academy Award and the Padma Bhushan for his regaining the Junior Mens Hockey World Cup after a gap of 15
contribution to Indian literature. years, defeating Belgium 2-1 in the final at the Major Dhyan
Chand Stadium in Lucknow. India achieved another first as this
PM launches Mobile App-BHIM for Aadhaar-based digital was the first time that a host nation has won the Cup in 11
payment editions. Gurjant Singh & Simranjeet Singh scored for India. For
Prime Minister Narendra Modi has launched a mobile app Belgium, this was their second biggest defeat of the year, after
Bharat Interface for Money, BHIM to facilitate digital cash losing to Argentina 0-1 in the Rio Olympics final.
transactions with only a thumb print after the bank account is Key Winners in the World Cup:
linked with Aadhaar gateway. Addressing Digi Dhan Mela at Up & Coming Player of the tournament: Timm Herzbruch
Talkatora stadium in New Delhi, Mr Modi said, payments of Germany
through the new system can be made by just a thumb Goalkeeper of the tournament: Loic van Doren of Belgium
impression. He said, the new indigenously developed payment Top scorer of the tournament: Edward Horler of England
app BHIM has been named after the main architect of Indian with 8 goals
constitution, Dr B R Ambedkar. Player of the tournament: Enrique Gonzalez de Castejon
from Spain
5TH BI-MONTHLY POLICY ANNOUNCED BY RBI
RBI governor Urjit Patel kept short-term (REPO) lending rate ISRO successfully launched PSLV C-36
unchanged. RBI also lowered its forecast for Indias gross PSLV-C36 is the thirty eighth flight of ISRO's Polar Satellite
domestic product (GDP) growth to 7.1% for this fiscal & stated Launch Vehicle (PSLV) placed the 1235 kg RESOURCESAT-2A
that demonetisation would lead to a short-term disruption in into an 817 kms polar Sun Synchronous Orbit (SSO). PSLV-C36
economic activity. The Patel-led six-member Monetary Policy was launched from the First Launch Pad (FLP) at Satish Dhawan
Committee (MPC) unanimously decided to keep the benchmark
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GK POWER CAPSULE FOR RBI ASSISTANT | IPPB & IDBI PO(MAINS) 2017
Space Centre SHAR, Sriharikota. In this flight, the 'XL' version of the Best Film. Megastar Amitabh Bachchan received the Best
PSLV with six solid strap-on motors was used. Actor award for the film, Aditya Bannerji got the Best
PSLV is the ISRO's versatile launch vehicle for launching multiple Editing award & Ritesh Shah got the Best Dialogue award for
satellites in polar SSOs, Low Earth Orbits (LEO) as well as Pink.
Geosynchronous Transfer Orbit (GTO) & sub GTO. With 36
successful launches, PSLV has emerged as the workhorse launch List of the winners of Star Screen Awards 2016
vehicle of ISRO & is offered for launching satellites for Best Film Pink
international customers. Best Actor Amitabh Bachchan for Pink
Best Actress Alia Bhatt for Udta Punjab
6th Heart of Asia Summit held in Amritsar Best Supporting Actor Rishi Kapoor for Kapoor & Sons
6th Ministerial Conference of the Heart of Asia-Istanbul Process Best Supporting Actress Shabana Azmi for Neerja
on Afghanistan was held in Amritsar on 3-4 December. The Best Actor Sushant Singh Rajput for MS
conference adopted the Amritsar Declaration which puts focus (Critics' choice) Dhoni: The Untold Story
on the Heart of Asia countries & supporting countries & Best Actress Swara Bhaskar for Nil Battey
organizations working together to comprehensively address the (Critics' choice) Sannata
menace of terrorism. Issues of terrorism took centre stage at the Best Actor Varun Dhawan for Dishoom
event. (in a comic role)
Best Director Ram Madhvani for Neerja
Major Issues which were discussed in the Conference
Best Playback Singer Amit Mishra for Bulleya, Ae Dil
Countering terrorism to create stability & security in
(Male) Hai Mushkil
Afghanistan.
Best Cinematography Anay Goswamy for Fitoor
Providing Afghanistan connectivity to strengthen economic
Best Playback Singer Palak Muchhal for Kaun Tujhe,
activities.
(Female) MS Dhoni: The Untold Story
Development, which is essential for the progress of
Afghanistan. Best Lyrics Amitabh Bhattacharya, Ae Dil Hai
Mushkil
Major Highlights of the Conference Best Newcomer (Female) Disha Patani for MS Dhoni: The
It jointly inaugurated by the President of Afghanistan Untold Story
Mohammad Ashraf Ghani & Prime Minister of India Narendra
Modi. Demonetization of Currency (Rs. 500 & Rs. 1000 Notes):
It was attended by Pakistan Prime Minister Nawaz Sharifs A Surgical Strike on Black Money
foreign affairs advisor Sartaj Aziz. Withdrawal of Legal Tender Character of the existing Bank Notes
It concluded with a strong declaration calling for concerted in the denominations of 500/- & 1000/-
regional & international cooperation to ensure elimination of
terrorism as well as dismantling of terrorist sanctuaries & safe Why is this scheme introduced?
havens in region. The incidence of fake Indian currency notes in higher
denomination has increased. The fake notes are used for
Amritsar Declaration was adopted in the Conference antinational & illegal activities. In order to contain the rising
The Amritsar Declaration, issued after the 6th ministerial 'Heart incidence of fake notes & black money, the scheme to withdraw
of Asia conference - Istanbul Process on Afghanistan' in this has been introduced.
Punjab city near India's border with Pakistan, "recognises
terrorism as the biggest threat to peace" & demanded What is this scheme?
"immediate end to all forms of terrorism". The legal tender character of the existing bank notes in
Citing the declaration, Finance Minister Arun Jaitley, who denominations of 500 & 1000 issued by the Reserve bank of
chaired the meeting in the absence of ailing External Affairs India till November 8, 2016 (hereinafter referred to as Specified
Minister Sushma Swaraj, said: "We remain concerned by high Bank Notes) stands withdrawn. The Specified Bank Notes can be
level of violence in Afghanistan caused by Taliban, terrorist exchanged for value at any of the 19 offices of the Reserve Bank
groups including Al Qaeda, Daesh (Islamic State) & its affiliates." of India & deposited at any of the bank branches of commercial
"We strongly call for concerted regional & international banks/ Regional Rural Banks/ Co-operative banks (only Urban
cooperation to ensure elimination of terrorism, including Co-operative Banks & State Co-operative Banks) or at any Head
dismantling of terrorist safe havens in the Heart of Asia region, Post Office or Sub-Post Office. District Central Cooperative Banks
as well as disrupting all financial & logistical support for (DCCBs) can allow their existing customers to withdraw money
terrorism." from their accounts upto 24,000 per week.
Note: It was attended by delegations from practically every Can I get cash in exchange for specified banknotes over the
participating country, supporting countries & international bank counter?
organizations45 in all. It also saw the presence & participation No over the counter exchange (in cash) of SBNs is not permitted
of guest countries Austria, Bulgaria, Latvia & Uzbekistan. from November 25, 2016.
Economics: Two U.S-based economists, Oliver Hart (U.K) & Physics: The prize goes jointly to David J. Thouless, F. Duncan
Bengt Holmstrom (Finland) have been awarded the 'Sveriges M. Haldane, & J. Michael Kosterlitz who discovered a
Riksbank Prize in Economic Sciences in Memory of Alfred mathematical framework in the field of topography, to
Nobel' for their contributions to contract theory. explain unexpected properties of solid materials.
Peace: Colombian President Juan Manuel Santos has been Chemistry: Awarded to Jean-Pierre Sauvage, Sir J. Fraser
awarded the Nobel Peace Prize for his efforts to end the 52-year Stoddart & Bernard L. Feringa for developing the molecular
conflict with left-wing rebels. machine.
Medicine: Japan's Yoshinori Ohsumi has received the 2016 Literature: American singer-songwriter Bob Dylan has been
Noble Prize for Medicine. He has received the award "for his awarded the Nobel Prize in Literature 2016 "for having created
discoveries of mechanisms for autophagy". new poetic expressions. within the great American song
tradition".
ECONOMY NEWS
Breaking a 3-month declining trend, wholesale inflation calibration of various other fees collected by the regulator
rose to 3.39% in December 2016. The increase was mainly from different market intermediaries.
due to a rise in prices of manufactured items, even as food Prime Minister Narendra Modi has launched a mobile app
articles turned cheaper. Bharat Interface for Money, BHIM to facilitate digital cash
GOI has increased the minimum monthly pension to 9,000 transactions with only a thumb print after the bank account
per person, besides a two-fold hike in exgratia amount for is linked with Aadhaar gateway.
central government employees. India has received the maximum Foreign Direct Investment
NITI Aayog has projected the India GDP growth rate of 8 (FDI) in flows from Singapore in 2015-16 followed by
Percent for 2016-17 based on the appraisal document for Mauritius, the US, the Netherlands and Japan, a report by
the Twelfth Five-Year Plan. industry chamber PHDCCI and KPMG.
Retail inflation fell to a nearly 3-year low of 3.41 % in IRDAI has approved the R3 application and granted
December 2016, from 3.63 % in November 2016. certificate of registration to five global reinsurers to opens
Global unemployment is expected to rise by 3.4 million in shops. The R3 is the final approval from the regulator to
2017 despite a likely modest pick-up in economic growth at begin branch operations.
3.4% this year and 3.6% in 2018, against a six-year low of Employee's Provident Fund Organization EPFO decided to
3.1% in 2016, a new report by the International Labour lower the interest on EPF deposits for the current fiscal to
Organisation. 8.65%, from 8.8% provided in 2015-16, for its over four
The country's industrial production grew 5.7% in November crore subscribers.
2016, compared to a contraction of 3.4% in November 2015. Central Statistical Office announced that Indias Gross
World Bank has decelerated India's growth for 2016-17 Domestic Product accelerated to 7.3 % in the second quarter
fiscal to 7% from its previous estimate of 7.6%. (July-September) of the 2016-17 financial year from a
Finance Ministry granted approval to 12 proposals of PSBs provisional 7.1 % expansion in the previous quarter.
to raise a sum of Rs 2,914.038 crore through preferential To encourage each district in the country to take the
allotment and permission given to raise Rs 200 crore by digitization route without fear, NITI Aayog will be
United Bank of India through QIP mode. immediately transferring Rs.5 lakh each district as seed
Over 26 crore accounts have been opened under Pradhan money to kick start this drive.
Mantri Jan Dhan Yojana across the country. ADB lowered India's growth forecast for this year from 7.4
Encouraging firms to enrol their workers under schemes % to 7 % due to a slight slowdown in the economy following
run by retirement fund body Employees Provident Fund the central government's demonetisation move.
Organisation (EPFO), a three-month campaign has been India has signed a Grant Agreement of USD 5.19 million with
launched beginning 01st January 2017 where employers International Bank for Reconstruction and Development
will get amnesty and pay just Re 1 as damages for not (IBRD) for Additional Financing for Financing Energy
registering their employees earlier. Efficiency at MSMEs Project- Programmatic Framework for
Munich Re is opening a composite branch office in Mumbai Energy Efficiency.
to service the property-casualty, life, health reinsurance Finance ministry released first installment of special
markets across the country. Munich Re Group is a assistance of Rs 1,093.34 crore for repair & permanent
reinsurance company based in Munich, Germany. restoration of damaged public buildings in Jammu &
Government has imposed an anti-dumping duty ranging Kashmir under PM Reconstruction Plan for J&K.
from 6.30 US dollars to 351.72 US dollars per tonne on SEBI tightened rules for credit rating agencies, prescribing
imports of jute and its products from Bangladesh and Nepal. more disclosures on suspension & withdrawal of ratings.
Indias per capita income, a gauge for measuring living CRISIL, ICRA & CARE are the major agencies that assign
standard, is estimated to cross Rs 1 lakh in 2016-17, up credit ratings to issuers of debt instruments.
from Rs 93,293 in the previous fiscal. GST Council approved a four-tier GST tax structure of 5%,
Employees' Provident Fund Organisation (EPFO) has made 12%, 18% & 28%, with lower rates for essential items & the
Aadhaar mandatory for its about 50 lakh pensioners and highest for luxury & de-merits goods that would also attract
around four crore subscribers. an additional cess.
World Bank projected a global growth of 2.7% in 2017. President Pranab Mukherjee approved the 2% hike in
World Bank President Jim Yong Kim stated that global Dearness Allowance to central government employees. DA is
economic growth is forecast to accelerate moderately to provided to employees & pensioners to minimise the impact
2.7% in 2017 after a post-crisis low of 2.3% in 2016. of price rise on their earnings.
Rabi crops have been sown in around six crores 16 lakh Confederation of Indian Industry (CII) launched a unique
hectares till date which is about 35 lakh hectares more than platform called Startup Mentorship Circle to help in
last year. Data released by the Agriculture Ministry, wheat connecting start-ups with the global marketplace.
has been sown in around three crore nine lakh hectare Govt. has announced that it will present the Union Budget
which is about 20 lakh hectare more than last year. for 2017-18 on February 1 & the budget session may begin
SEBI, has decided to lower broker fees by 25 per cent to 15 in January. Also, the Centre approved the merging of
rupees per transaction of one crore rupees as part of Railway Budget with the Union Budget.
27. PepsiCo India Sold a 2.5 acre land parcel in the Central suburb Chembur to The Wadhwa
Group for Rs. 190-200 crore.
28. US fast-food giant McDonald Announced to sell its businesses in mainland China and Hong Kong for $2.08
billion to Citic, a state-owned conglomerate, and the Carlyle Group
29. XCMG, a China-HQ global will invest $150 million in a new manufacturing unit in India for construction
construction machinery company and material-handling machines.
30. American SpaceX rocket company Resumed flights, launching a Falcon 9 vehicle from the Vandenberg Air Force
(INDIA/WORLD) AGREEMENTS
AWARDS
COMMITTEES IN NEWS
NATIONAL NEWS
Election Commission has announced the dates for the presented. President Pranab Mukherjee has summoned the
assembly elections in five states Uttar Pradesh, Uttarakhand, Rajya Sabha to meet on January 31, 2017.
Punjab, Manipur and Goa. Uttar Pradesh, the biggest state in The government will add by next month 40 more cities to
the country, will go to polls in seven phases for 403 seats. the list of towns it wants to develop as Smart Cities by
Prime Minister Narendra Modi and his Portuguese providing funds for initiating urban reforms, Union Minister
counterpart Dr Antonio Costa has inaugurated the main M Venkaiah Naidu said today. The addition of 40 new cities
convention of Pravasi Bhartiya Divas in Bengaluru. will take the total Smart Cities to 100.
Election Commission of India has issued a limitation for PM NarendraModi has laid the foundation stone of Char
campaign expense per candidate. In Goa and Manipur, the Dham highway development project in Dehradun. Char
limit on election expenses per candidate is Rs 20 lakh. In DhamYatra is an annual pilgrimage to the shrines of
Punjab, Uttar Pradesh and Uttarakhand the election Kedarnath, Badrinath, Gangotri, and Yamunotri. The project
expenses limit per candidate is Rs 28 lakh. includes developing 900 km of National Highways in
N Chandrasekaran, Chairman designate of Tata Sons, has Uttarakhand at Rs 12,000 crore.
inaugurated the Kohli Research Block at the International
Institute of Information Technology at Gachibowli,
Hyderabad.
Japan has decided to be associated with the development of
Chennai, Ahmedabad and Varanasi as smart cities.
State-owned fuel retailers, Indian Oil Corporation (IOC),
Bharat Petroleum Corp Ltd (BPCL) and Hindustan
Petroleum Corp Ltd (HPCL) will offer an upfront discount of
Rs 5 on every LPG refill to all LPG customers who will book
and pay for it online.
Prime Minister Narendra Modi has released special
commemorative stamps on Prakash Parv in 350th birth
anniversary of Guru Gobind Singh in Patna on 05th January
2017.
India is all set to get its first wax museum in June 2017 The Government of India has approved cadre review and
unveils Wax Figures Of Amitabh Bachchan, Lady Gaga. formation of the Indian Enterprise Development Service
Madame Tussauds, the legendary wax attraction (IEDS) in the Office of the Development Commissioner,
entertainment hotspot is all set to open its doors in capital Ministry of Micro, Small and Medium Enterprises.
New Delhi. Union Cabinet has Approved Ordinance to amend Payment
Chief Minister of Kerala, Pinarayi Vijayan has inaugurated of Wages Act, 1936. The Centre approved a draft ordinance
the first solar-powered boat of the state water transport to empower states and enable industries to pay wages by
department, Aditya at a function held in Vaikom boat Jetty in cheque or by direct credit into bank accounts of workers
Kerala. earning up to Rs. 18,000 a month, without taking their
The Budget session of Parliament convened to start from explicit consent.
January 31, a day before the Union Budget is likely to be
STATE IN NEWS
Amazon announced that the Harry Potter and the Cursed Child The autobiography of Indias batting legend Sachin Tendulkar
as the best-selling book of 2016. The playscript by JK Rowling, Playing it my way has won the prestigious Crossword Book of
Jack Thorne and John Tiffany & is also named this year's 'Most the Year Award. It is penned by renowned cricket historian and
Wished For' & 'Most Gifted' book. Tendulkars close friend Boria Majumdar.
The book titled Courts of India Past to Present released by Bishweshwar Nandi, coach of Dipa Karmakar will co-author her
the Supreme Court of India. It was authored by the Editorial memoir titled: Dipa Karmakar: The Small Wonder.
Board comprises members of both the Bench and the Bar.
An Era of Darkness: The Dr. Shashi Tharoor 'The Legend of Lakshmi Twinkle Khanna
British Empire in India Prasad'
Death under the Deodars: Ruskin Bond Conflicts of Interest: My Sunita Narain
The Adventures of Miss Journey through India's Green
Ripley-Bean Movement
DEFENCE NEWS
MISSILE LAUNCHED/INS INDUCTED the Royal New Zealand Navy International Naval Review
India has successfully test-fired its home-grown long range 2016.
subsonic cruise missile Nirbhay from the Integrated Test The joint military training exercise Sampriti-2016
Range (ITR) at Chandipur on sea off Odisha coast, for a conducted between India & Bangladesh at Tangail, Dhaka,
distance of about 1,000 km. Bangladesh.
India has successfully test-fired its home-grown long range The Indian army has successfully completed its task of
intercontinental surface-to-surface nuclear capable ballistic laying an irrigation pipeline in the Demchok region of
missile Agni-IV from the Abdul Kalam Wheeler Island off Eastern Ladakh.
Odisha coast. The 6th Indo-China joint training exercise Hand- in- Hand
DRDO successfully carried out maiden flight of TAPAS 201 2016 held at the parade ground in Aundh Military Camp,
(RUSTOM II), a Medium Altitude Long Endurance (MALE) Pune.
Unmanned Aerial Vehicle (UAV).
Lt-General A K Bhatt appointed as the Director-General of INDIAN NAVY IN NEWS
Military Operations (DGMO) & succeeds Lt-General Ranbir Khanderi, the second Scorpene class submarine that has
Singh. superior stealth and the ability to launch a crippling attack
with torpedoes as well as tube-launched anti-ship missiles
whilst underwater or on the surface, launched at the
Mazagon Dock Shipbuilders Limited, Mumbai.
Defence Acquisition Council okayed defence requirements
worth approximately Rs 7,000 crore. These include
purchasing six modern surveillance aircraft for the Indian
Coast Guard.
The Russian-Indian- Indra NAVY-2016 naval exercise will
be held in this December. It will be held in the city of
Visakhapatnam and in the Bay of Bengal.
The annual bilateral maritime exercise Konkan 16 between
the Indian Navy and the Royal Navy (British Navy) started
in Mumbai, Maharashtra.
Indian Navy formally inducted four types of indigenously
developed sonars that will boost its underwater
INDIAN ARMY IN NEWS surveillance capability. The systems included Abhay, which
7th edition of Exercise EKUVERIN will be held in December is a compact hull mounted sonar for shallow water crafts;
2016 at Kadhdhoo, Laamu Atoll, Maldives. It is platoon level Humsa UG, which is an upgrade for the Humsa sonar
joint military exercise between the Indian Army & the system; NACS, or the Near-field Acoustic Characterisation
Maldives National Defence Force. System; & AIDSS, or the Advanced Indigenous Distress
The Indian Navys offshore patrol vessel Sumitra reached sonar system for submarines.
Darwin, Australia. It returned to India after participating in
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GK POWER CAPSULE FOR RBI ASSISTANT | IPPB & IDBI PO(MAINS) 2017
Guided Missile Destroyer INS Chennai commissioned into DRDO successfully flight tested the Smart Anti-Airfield
the Indian Navy by Defence Minister Manohar Parrikar at Weapon (SAAW) at the Integrated Test Range at Chandipur
the Naval Dockyard, Mumbai. off Odisha coast.
Indian Navy Sailing Vessel (INSV) Mhadei with an all- China commissioned its first seven-tonne helicopter,
women crew was flagged off from Goa to Cape Town, South AC352 civil helicopter can be used for operations like
Africa. search and rescue and law enforcement, marking a new
advancement in its aviation industry.
INDIAN AIR FORCE IN NEWS Japan's space agency has announced successfully launched
India tested its Agni-V intercontinental ballistic missile a 26-metre-long rocket named Epsilon-2, which put a
(ICBM) in its final operational configuration from Wheeler satellite that helps study radiation belts in orbit.
Island off Odisha, paving the way for its eventual induction In order to further boost its growing defence ties with
into the Strategic Forces Command (SFC) after user-trials. Vietnam, India has agreed to train the southeast nations
The upgraded Jaguar DARIN III twin-seat aircraft received Sukhoi-30 fighter pilots.
the Initial Operation Clearance (IOC). IOC is a significant Pakistan has successfully test-fired an enhanced version of
milestone for Indias military aviation sector. an indigenously-designed cruise missile Babur, that can hit
targets at 700km with all kinds of warheads, bringing many
OTHER DEFECNE NEWS Indian cities within its range.
Border Security Force (BSF) launched operation Sard A team of women commandos has been inducted for the
Hawa at the western international border of Rajasthan, first time in Central Reserve Police Force (CRPF) to counter
under which vigil will be beefed-up to check the instances Naxal insurgency in Jharkhand. A Naxal or Naxalite is a
of infiltration due to the dense fog in the area. member of any of the Communist guerrilla groups in India,
Pakistan has fired its first submarine-launched cruise mostly associated with the Communist or Leftist ideology.
missile, a show of force for a country that sees its missile
development as a deterrent against arch-foe India.
SPORTS NEWS
CRICKET NEWS After the release of ICC and Cricket Australia's list of best
Supreme Court of India has stripped Anurag Thakur of his players of 2016, Lord's Cricket Ground have followed the
powers as BCCI President for not complying with the orders trend and selected top 20 players for this calendar year.
of the apex court with regard to implementation of the Gujarats opening batsman Samit Gohel made history by
Lodha committee reforms. scoring 359 runs not out during his teams Ranji Trophy
Gujarat won their first ever Ranji Trophy title beating quarter final against Odisha.It is the highest unbeaten score
Mumbai by five wickets in the final at the Holkar stadium in by an opening batsman in first-class cricket.
Indore. With this title, Gujarat have won the domestic titles India has won the five-match test series against England, 4-
in T20, one-day and Ranji. 0. Karun Nairs triple century in the first innings of the fifth
MS Dhoni has stepped down as the captain of India's test match against England was the key factor in the
limited-overs sides. enormous win of India. Virat Kohli is the man of the series
Arthur Morris, who became the 82nd player to be inducted for his 655 runs in the series.
into the ICC Cricket Hall of Fame, was given the honour India womens cricket team won the Asia Cup T20 after
posthumously. beating arch-rivals Pakistan in the final.
Consulate General of India in Dubai has announced launch Larsen & Turbo (L&T) has bagged a contract from the
of the 'Diplomats Cricket Championship Cup' in association Gujarat Cricket Association (GCA) to make Sardar Patel
with the Skyline University College, Sharjah, to promote Cricket Stadium of Gujarat the worlds biggest cricket
sportsmanship, camaraderie, and harmonious relationship stadium in terms of seating capacity.
among the diplomatic missions of UAE. Virat Kohli became the first Indian to score three double
BJP Mumbai unit chief Ashish Shelar has been appointed as hundreds in a year, playing against England.
Maharashtra Cricket Association (MCA) president. Sylar India batswoman Smriti Mandhana has been named in the
takes over from the former ICC president Sharad Pawar. ICC Womens Team of the Year 2016, the International
West Indies turned to former batsman Jimmy Adams into Cricket Council (ICC) announced.
their new director of cricket Association. Ravichandran Ashwin became the first bowler ever to
RavichandranAshwin has won both the ICC Cricketer of the complete 50 wickets in two consecutive calendar years.
Year and the ICC Test cricketer of the Year award after he Debbie Hockley elected as president of New Zealand
was named as the only Indian in ICCs Test Team of the Cricket, becoming the first woman to hold that role.
Year. ViratKohli was named the captain of the ICC ODI
Team of the Year. FOOTBALL NEWS
India, coached by Rahul Dravid, continued their dominance India's women's football team defeated Bangladesh 3-1 in
in the Asia Cup as they clinched the U-19 title by defeating Siliguri, West Bengal to win the 2016 South Asian Football
Sri Lanka in the final at the R Premadasa stadium in Federation Women's Championship for the fourth
Colombo. consecutive time.
HOCKEY NEWS
The Indian hockey team captain PR Sreejesh has became a
member of International Hockey Federation Athletes'
Committee.
India has defeated South Korea 3-0 to secure the bronze
medal at the 4th Women's U18 Asia Cup 2016 hockey
tournament in Bangkok, Thailand.
In its first such final in 15 years, India overwhelmed
Belgium 2-1 to lift the 2016 Hockey Junior World Cup at
Lucknow's Major Dhyan Chand Hockey Stadium.
Captain of the senior National Mens Hockey Team and one TENNIS NEWS
of the finest hockey goal-PR Sreejeshkeeper in the world, India's star singles player Somdev Devvarman has
PR Sreejesh has been roped in as the Goalkeeping Mentor of announced his retirement from professional tennis. Somdev
the India Under-21 Hockey Team. touched a career-high rank of number 62 in 2011.
Indian Women's hockey team have lifted the Asian Indian tennis ace Sania Mirza picked up her first title of the
Champions Trophy 2016 in Singapore after defeating China. season, combining with American Bethanie Mattek-Sands to
Mumbai's Western Railways women's team won the 33rd lift the Brisbane International women's doubles title. The
Indian Oil Servo Surjit Hockey Tournament. top-seeded Indo-American duo triumphed 6-2 6-3 against
Narinder Batra has become the first Indian to be elected the the second-seeded Russian team of Ekaterina Makarova
President of the International Hockey. and Elena Vesnina in the final.
Forward Vandana Katariya will captain Indian senior Rafael Nadal defeated David Goffin to win in Abu
women's hockey team in the Test Series against Australia to Dhabi.Rafael Nadal defeated Belgian David Goffin 6-4, 7-6 to
be played at Melbourne win the Mubadala World Tennis Championships.
Novak Djokovic has won the Qatar Open tennis title. In an
BADMINTON NEWS epic final in Doha, the Serbian defeated Andy Murray of UK
APIS India a leading producer, distributor and exporter of by 6-3 5-7 6-4.
honey under APIS Himalaya brand, has roped in Indian Spaniard Roberto Bautista Agut has won the mens singles
badminton champion and Rio Olympics silver medalist PV title of the Chennai Open 2017. Agut beat Russian 20-year-
Sindhu as its brand ambassador. old Daniil Medvedev 6-3 and 6-4 to claim the first ATP
Olympic silver medallist PV Sindhu jumped two places to tournament of the season.
achieve her career-best ranking of seven in the latest BWF
VISITS
Israel President Reuven Rivlin was on a six-day visit to India to further strengthen bilateral ties.
Mauritius PM Anerood Jugnauth will visit India to discuss various issues, including one that provides a subsidy for Bollywood
films shot there, with the Maharashtra government.
SCHEMES
Schemes launched by Union Govt. will remain open until 31 March, 2017. It provides for 50%
Govt's online payments app, BHIM (Bharat Interface for tax and surcharge on declarations of unaccounted cash
Money) is now the number one free app on Google Play deposited in banks.
Store. Union HRD Minister launches 'Vittiya Saksharata Abhiyan'
Minister of State for Minority Affairs Mukhtar Abbas Naqvi to use the network of Centrally-run educational institutions
has launched mobile app 'Haj Committee of India', which for propagating the benefits of digital mode of payment in
will provide information and facilitate e-payments for Haj wake of the governments demonetisation move.
pilgrimage. The Government has announced to launch a 'Lucky Graahak
Telangana and Assam signed MoUs to join the Ujwal Discom Yojana' and 'Digi Dhan Yojana' to encourage digital
Assurance Yojna (UDAY) taking the total number of states payments. Schemes will begin from 25th Dec till April 14,
covered under the scheme to 20. 2017. 7,000 weekly awards and a maximum award of Rs
Naveen Patnaik launches Biju Sishu Surakshya Yojana to 50,000 each for merchants will be awarded under Digi Dhan
nurture orphan kids. It is the scheme to nurture the orphan Vyapari Yojna.
and HIV-infected children residing in different child care PM Narendra Modi has launched the "Saur Sujala Yojana"
institutions and orphanages. in Chhattisgarh that would provide solar powered
The government has launched a host of online initiatives irrigation pumps to farmers at a subsidized price.
including a mobile App 'Smart Consumer' and an 'Online Chhattisgarh would be the first state to implement the
Consumer Mediation Centre (OCMC)' to provide speedy scheme. Under the scheme, solar powered irrigation
redressal of consumer grievances. pumps of 3HP & 5HP capacity worth Rs 3.5 lakh & Rs 4.5
Government of India has launched Lucky GrahakYojana for lakh respectively would be distributed to the farmers
Consumers and Digi-DhanVyaparYojana for Merchants to by March 31, 2019.
promote digital transaction. .The schemes are aimed at Union Government launched Pradhan Mantri Surakshit
encouraging people to move towards significantly higher Matritva Abhiyan to provide free health check-ups to
usage of digital transactions through the offer of incentives. pregnant women at government health centres &
The Lok Sabha has passed the Pradhan Mantri Garib Kalyan hospitals. The Scheme was launched in New Delhi.
yojna (Second Amendment) Bill, 2016 in the Lok Sabha. It is PM Narendra Modi has launched Pradhanmantri Grameen
Union Governments second income disclosure scheme Awas Yojna, an ambitious housing scheme meant for rural
(IDS) to allow tax evaders to come clean with unaccounted poor in Agra. The scheme aims to provide affordable
wealth. It came into effect from 17 December 2016 and it houses to all those living below the poverty line by the
INDIAN RAILWAYS IN NEWS Yoga, Indias one of the ancient practices to keep oneself
Indian Railways new train, Humsafar Express, was flagged healthy, has been inscribed on UNESCOs Representative
off from Gorakhpur in eastern Uttar Pradesh by Railway List as the Intangible Cultural Heritage of Humanity.
Minister Suresh Prabhu via video conferencing in Rail Emirates launched the world's shortest scheduled service
Bhawan, New Delhi. on an Airbus A380, flying it from Dubai to Doha within 80
The worlds first hospital train, Lifeline Express is all set to minutes.
get two additional coaches for cancer treatment. Indira Gandhi International Airport in New Delhi is the 22nd
CM Mehbooba Mufti flags off first children special train in most connected airport in the world, according to air travel
valley. It was flagged off at Banihal that en routes from intelligence company OAG. OAG's 2016 Megahubs Index has
Quazigund, Anantnag, Awantipur, Srinagar, Budgam, Sopore been topped by Chicago Airport in the United States.
and Baramula. Kolkata, along with 10 other cities from across the globe,
Ministry of Railways appointed Dr. Bindeshwar Pathak, the has been honoured with the best cities of 2016 award in
founder of Sulabh International, as a Brand Ambassador for recognition of its programme on solid waste management.
Swachh Rail Mission. Universal Studios Hollywood has been named the Best
Attraction in the World by ticket selling site 'AttractionTix'.
OTHER MISCELLANEOUS NEWS Warner Brothers Studio Tour was voted the best attraction
The Supreme Court has given permission to a woman in her in the UK while Magic Kingdom Park in Walt Disney World
24th week of pregnancy to undergo termination of Resort was named the Best Family Attraction.
pregnancy after medical report finds foetus is without skull. World Economic Forum (WEF) has named Hindi language
Mobile handset brand Gionee has roped in Indian test ranked 10th in the top 10 most powerful languages on the
captain Virat Kohli as the brand ambassador. planet. The list features English as the most powerful
Bureau of Indian Standards (BIS) has revised Indian language followed by Mandarin.
Standard on gold hallmarking, which is effective from A biopic of Madonna titled Blond Ambition has been named
January 1, 2017. the most admired unproduced film script currently in the
Union Minister Mukhtar Abbas Naqvi and Saudi Arabia's Haj Hollywood system. It is Written by Elyse Hollander.
and Umrah Minister Dr Mohammad Saleh bin Taher Benten 'Brexit' and 'Grexit' (hypothetical withdrawal of Greece from
inked an agreement in this regard in Jeddah, increasing the the EU) are among the 1,500 new words and phrases added
size of India's Haj quota from 1,36,020 to 1,70,520. to the Oxford English Dictionary this week.
Andhra Pradeshs own classical dance Kuchipudi found a 'Mahabharata', B R Chopra's famed teleserial, is set to be
place in the Guinness World Records yet again when a broadcast in its radio avatar on the All India Radio (AIR).
record 6,117 dancers came together to present a show at Two-time academy award winner AR Rahman is in the
the IGMC Stadium in Vijaywada. Oscar race again for his work in the American biographical
Madras High Court has banned unauthorised Sharia courts film Pele: Birth of a Legend.
functioning on premises of mosques in Tamil Nadu. China has selected historical-adventure film Xuanzang,
Noted television journalist and talk show host Arnab which co-stars Bollywood actor Sonu Sood, as its official
Goswami has announced that the launch of his new venture entry for the 89th Academy Awards.
called Republic. Bollywood Parks, Dubai has opened with fanfare, fireworks,
Actress Priyanka Chopra has become the first Indian to be dance, music & simulator 4D shows based on hit Hindi-
appointed as the global ambassador of the hair care brand language movies.
'Pantene calling the brand a "favourite around the world. Oxford Dictionaries has declared "post-truth" to be its
Coca-Cola India has signed Bollywood actor Ranveer Singh international word of the year.
as brand ambassador for its Thums Up brand. The website Dictionary.com named the word 'Xenophobia'
Tata Motors has announced the appointment of Bollywood as the Word of the Year for 2016.
film star Akshay Kumar, as the brand ambassador for its Pink, the Amitabh Bachchan starrer Bollywood film, has
Commercial Vehicle Business Unit. been invited by the Assistant Secretary-General of the
Priyanka Chopra has now made it up to the list of IMDbs United Nations for a special screening at its headquarters in
most popular celebrities list. She stands at 55 in the list New York, USA. It is directed by Aniruddha Roy Chowdhury.
which is topped by Sofia Boutella. Yoga, has been inscribed on UNESCOs Representative List
Supreme Court made it mandatory for cinema halls to play as the Intangible Cultural Heritage of Humanity. UNESCO
the National anthem before the screening of a film in also adds Cuban rumba & Belgian beer to list of worlds
theatres across the country. intangible heritage. Yoga became the 13th intangible
cultural heritage.
Alexander Rudensky, Shimon Sakaguchi & Fred Ramsdell Delhi Police with IndiGo launched Akhiri Ahuti under
won the Crafoord Prize 2017 for their discoveries relating which the bodies of the North-east residents who die in
to regulatory T cells, which counteract harmful immune Delhi will be carried to their homes.
reactions in arthritis and other autoimmune diseases.
CENSUS
1) The population of the country as per the provisional figures
of Census 2011 is 1210.19 million of which 623.7 million
(51.54%) are males&586.46 million (48.46%) are females. Whos who?
The major highlights of the Census 2011 (Provisional
figures) are as under:
Important National Officials
*The population of India has increased by more than 181
Designation Name
million during the decade 2001-2011.
Chairperson, CBDT Suhsil Chandra
2) %age growth in 2001-2011 is 17.64; males 17.19&females
Chairperson, National Commission Rameshwar Oraon
18.12.
for Scheduled Tribes
*2001-2011 is the first decade (with the exception of 1911-
1921---GREAT DEPRESSION) which has actually added Chairperson, UGC Ved Prakash
lesser population compared to the previous decade. Chairman, ISRO AS Kiran Kumar
3) *Uttar Pradesh (199.5 million) is the most populous State in Chairman, Atomic Energy Shekhar Basu
the country followed by Maharashtra with 112 million. Commission
Some of the highlights Chairperson, TRAI Ram Sevak Sharma
Slogan - Our census, Our Future Chairperson, National Highways Raghav Chandra
India's 1st Census - 1872 Authority of India
2011 Census is - 15th Census Director, National Cadet Corps A. Chakravarty
Total Population - 1,21,01,93,422 Chairperson, Central Board of Rajesh Kumar Chatur
India's Rank in population - 2nd with 17.5% (1st China with Secondary Education
19%) Chairperson, Insurance Regulatory & TS Vijayan
Most Populous State - Uttar Pradesh Development Authority of India
Least Populous State - Sikkim Chairperson, Press Council of India CK Prasad
COUNTRY&CURRENCY
Stadiums in Pakistan
Arbab Niaz Stadium-Peshawar
Ayub National Stadium-Quetta
Gaddafi Stadium-Lahore
Stadiums Around the World
Stadiums in Australia Stadiums in South Africa
Adelaide Oval- Adelaide Kingsmead-Durban
Bundaberg Rum Stadium- Cairns New Wanderers Stadium-Johannesburg
Telstra Dome- Melbourne Newlands-Cape Town
Manuka Oval- Canberra St George's Park-Port Elizabeth
Marrara Cricket Ground- Darwin Centurion Super Sport Park-Pretoria
Melbourne Cricket Ground- Melbourne
Sydney Cricket Ground- Sydney Stadium in Sri Lanka
W.A.C.A. Ground- Perth Colombo Cricket Club Ground-Colombo
24. Tamil Nadu Mudumalai National Park Indira Gandhi Kudankulam Nuclear
CM: O. Panneerselvam (Annamalai) WLS Power Plant
Governor: C Vidyasagar Rao Mukurthi National Park Kalakad WLS Neyveli Thermal
(Additional Charge) Indira Gandhi Karaivetti WLS Tuticorin Thermal
Capital: Chennai (Annamalai) National Karikili WLS Power Station
Park Mudumalai WLS
Guindy National Park Pulicat Lake WLS
Gulf of Mannar Marine Vaduvoor WLS
National Park Vedanthangal WLS
Vettangudi WLS
25. Tripura Bison( Rajbari ) National Gumti WLS Palatana Thermal
CM: Manik Sarkar Park Rowa WLS Power Plant
Governor: Tathagata Roy Clouded Leopard Sepahijala WLS
Capital: Agartala National Park Trishna WLS
26. UK Gangotri National Park Askot Musk Deer WLS Chibro Power Plant
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GK POWER CAPSULE FOR RBI ASSISTANT | IPPB & IDBI PO(MAINS) 2017
CM: Harish Rawat Jim Corbett National Park Binsar WLS Khodri Power Plant
Governor: K.K. Paul Valley of Flowers National Govind Pashu Vihar WLS Chilla Power Plant
Capital: Dehradun Park Kedarnath WLS
Sonanadi WLS
27. WB Buxa National Park Ballavpur WLS Mejia Thermal Power
CM: Mamata Banerjee Neora Valley Chintamani Kar Bird Station
Governor: Keshari Nath NationalPark Sanctuary Farakka Super
Tripathi Singalila National Park Haliday Island WLS Thermal Power
Capital: Kolkata Sundarbans National Park Lothian Island WLS Station
Mahananda WLS Kolaghat Thermal
Power Station
Bakreshwar Thermal
Power Station
Durgapur Steel
Thermal Power
Station
28. Arunachal Pradesh Namdapha National Park
Mouling National Park
IMPORTANT TOPICS IN BANKING FOR RRB/NABARD EXAMS Sectors in the Indian Economy
National Payments Corporation of India (NPCI) has Indian Economy is normally categorized into three sectors
implemented National Automated Clearing House namely -
(NACH) for Banks, Financial Institutions, 1. Primary Sector
Corporates&Government a web based solution to 2. Secondary Sector
facilitate interbank, high volume, electronic transactions 3. Tertiary Sector
which are repetitive&periodic in nature. NACH System can 1. Primary Sector
be used for making bulk transactions towards distribution Primary Sector is directly dependent on environment for
of subsidies, dividends, interest, salary, pension etc. manufacture&production. For example, agriculture, mining,
National Automated Clearing House (NACH) is a farming etc.
centralised system, launched with an aim to consolidate 2. Secondary Sector
multiple ECS systems running across the country&provides Secondary Sector adds value to the proud by transforming raw
a framework for the harmonization of standard & materials into valuable products. For example,
practices&removes local barriers/inhibitors. NACH system processing&construction industries.
will provide a national footprint&is expected to cover the 3. Tertiary Sector/Service Sector
entire core banking enabled bank branches spread across Tertiary Sector is involved in production&exchange of services.
the geography of the country irrespective of the location of For example, transportation, communication,&other services of
the bank branch. NACH system also supports Financial such kind.
Inclusion measures initiated by Government, Government Tertiary Sector is also known as Services Sector as it
Agencies&Banks by providing support to Aadhaar based facilitates the production&exchanges of services.
transactions.
NACHs Aadhaar Payment Bridge (APB) System, Mobile Money Identifier (MMID) is a 7 digit number, issued
developed by NPCI has been helping the by banks. MMID is one of the input which when clubbed with
Government&Government Agencies in making the Direct mobile number facilitates fund transfer. Combination of
Benefit Transfer scheme a success. Mobile no. & MMID is uniquely linked with an Account
number&helps in identifying the beneficiary details. Different
Bharat Bill Payment System (BBPS) MMIDs can be linked to same Mobile Number.
This will function as a tiered structure for operating the bill
payment system in the country under a single brand image. Immediate Payment Service (IMPS)
National Payments Corporation of India (NPCI) will function as Immediate Payment Service (IMPS) public launch happened on
the authorized Bharat Bill Payment Central Unit (BBPCU), 22nd November 2010 by Smt. Shyamala Gopinath, DG RBI at
which will be responsible for setting business standards, Mumbai&this service is now available to the Indian public. IMPS
rules&procedures for technical&business requirements for all offers an instant, 24X7, interbank electronic fund transfer
the participants. NPCI, as the BBPCU, will also undertake service through mobile phones. IMPS is an emphatic tool to
clearing&settlement activities related to transactions routed transfer money instantly within banks across India through
through BBPS. mobile,internet&atm which is not only safe but also economical
both in financial&non financial perspectives.
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GK POWER CAPSULE FOR RBI ASSISTANT | IPPB & IDBI PO(MAINS) 2017
small finance banks. Promoter/promoter groups should be
Unified Payments Interface (UPI) fit&proper with a sound track record of professional
It is a system that powers multiple bank accounts into a single experience or of running their businesses for at least a period of
mobile application (of any participating bank), merging several five years in order to be eligible to promote small finance banks.
banking features, seamless fund routing & merchant payments
into one hood. It also caters to the Peer to Peer collect request Scope of activities: The small finance bank shall primarily
which can be scheduled&paid as per requirement&convenience. undertake basic banking activities of acceptance of
Objectives of UPI:- deposits&lending to unserved&underserved sections including
1. Immediate money transfer through mobile device round the small business units, small&marginal farmers, micro&small
clock 24*7&365 days. industries&unorganised sector entities. There will not be any
2. Single mobile application for accessing different bank restriction in the area of operations of small finance banks.
accounts Capital requirement: The minimum paid-up equity capital for
3. Single Click 2 Factor Authentication Aligned with the small finance banks shall be Rs. 100 crore.
Regulatory guidelines, yet provides for a very strong feature of
seamless single click payment. Promoter's contribution: The promoter's minimum initial
4. Virtual address of the customer for Pull & Push provides for contribution to the paid-up equity capital of such small finance
incremental security with the customer not required to 6. enter bank shall at least be 40 per cent&gradually brought down to 26
the details such as Card no, Account number; IFSC etc. per cent within 12 years from the date of commencement of
business of the bank.
National Institute of Bank Management (NIBM)
National Institute of Bank Management (NIBM) was Foreign shareholding: The foreign shareholding in the small
established in 1969 by the Reserve Bank of India, in finance bank would be as per the Foreign Direct Investment
consultation with the Government of India, as an (FDI) policy for private sector banks as amended from time to
autonomous apex institution for research, training, time.
education&consultancy in bank management. Its mandate is
to play a proactive role of think-tank of the banking system. Payments Banks
NIBM is part of the grand vision of giving a new direction to the Objectives:
banking industry in India&making the industry a more cost- The objectives of setting up of payments banks will be to further
effective instrument for national development. The Governor of financial inclusion by providing (i) small savings accounts&(ii)
the Reserve Bank of India (the central bank of the country), payments/remittance services to migrant labour workforce, low
is the Chairman of the Governing Board. National Institute of income households, small businesses, other unorganised sector
Bank Management (NIBM) is situated at Pune, Maharashtra. entities&other users.
Eligible promoters:
Electronic Funds Transfer at Point of Sale (EFTPOS) Existing non-bank Pre-paid Payment Instrument (PPI)
EFTPOS is the method for paying for goods or services without issuers;&other entities such as individuals / professionals; Non-
needing to carry cash. On making a purchase, the eftpos Banking Finance Companies (NBFCs), corporate Business
customer gives an eftpos card to the cashier who inserts it into Correspondents(BCs), mobile telephone companies, super-
an on-site eftpos machine. When the eftpos customer confirms market chains, companies, real sector cooperatives; that are
the purchase, either by signature or security PIN, the eftpos owned&controlled by residents;&public sector entities may
equipment contacts the store's bank electronically about the apply to set up payments banks. A promoter/promoter group
transaction. A message is also sent to the customer's bank. can have a joint venture with an existing scheduled commercial
Unless there is reason for the eftpos transaction not to be bank to set up a payments bank. However, scheduled
completed, the funds will then be transferred between the two commercial bank can take equity stake in a payments bank to
accounts. the extent permitted under Section 19 (2) of the Banking
Regulation Act, 1949. Promoter/promoter groups should be
Small Finance Banks in the Private Sector fit&proper with a sound track record of professional
Objectives: The objectives of setting up of small finance banks experience or running their businesses for at least a period of
will be to further financial inclusion by (a) provision of savings five years in order to be eligible to promote payments banks.
vehicles,&(b) supply of credit to small business units; Scope of activities:
small&marginal farmers; micro&small industries;&other Acceptance of demand deposits. Payments bank will initially be
unorganised sector entities, through high technology-low cost restricted to holding a maximum balance of Rs. 100,000 per
operations. individual customer. Issuance of ATM/debit cards. Payments
banks, however, cannot issue credit cards.
Eligible promoters: Resident individuals/professionals with Payments&remittance services through various channels. BC of
10 years of experience in another bank, subject to the Reserve Bank guidelines on
banking&finance;&companies&societies owned&controlled by BCs.Distribution of non-risk sharing simple financial products
residents will be eligible to set up small finance banks. Existing like mutual fund units&insurance products, etc.
Non-Banking Finance Companies (NBFCs), Micro Finance Deployment of funds:
Institutions (MFIs),&Local Area Banks (LABs) that are The payments bank cannot undertake lending activities. Apart
owned&controlled by residents can also opt for conversion into from amounts maintained as Cash Reserve Ratio (CRR) with the
SLR Rate
SLR (Statutory Liquidity Ratio) is the amount a commercial
bank needs to maintain in the form of cash, or gold or
government approved securities (Bonds) before providing
credit to its customers.
It is determined as the percentage of total Net Demand&Time INTEREST RATE ON BANK ACOUNTS
Liabilities (NDTL). A) Some points related to Interest Rates on Bank Accounts
{Differential rate of interest (DRI)}
BANK RATE 1) Interest on Savings A/c is calculated on daily balance basis.
It is defined in Sec 49 of RBI Act 1934 as the standard rate at 2) Now, All Scheduled Commercial Banks (Excluding RRBs)
which RBI is prepared to buy or rediscount bills of exchange or have the discretion to offer differential interest rates based
other commercial papers eligible for purchase under this act. on whether the term deposits are with or without-
premature-withdrawal-facility, subject to the following
CASH RESERVE RATIO guidelines:
CRR refers to the ratio of banks cash reserve balances with RBI All term deposits of individuals (held singly or jointly) of
with reference to the banks net demand&time liabilities to Rs.15 lakh&below should, necessarily, have premature
ensure the liquidity&solvency of the scheduled banks. withdrawal facility.
For all term deposits other than (i) above, banks can offer
ACCOUNTS IN A BANK deposits without the option of premature withdrawal as
Savings Bank Account well.
Current Deposit Account Banks should disclose in advance the schedule of interest
Fixed Deposit Account rates payable on deposits i.e. all deposits mobilized by banks
Recurring Deposit Account. should be strictly in conformity with the published schedule.
a. Savings Bank Account
The rate of interest on savings bank account varies from B) Taxation of Savings Bank Interest rates:
bank to bank&also changes from time to time. Interest rate is Unlike interest on fixed deposits, interest earned on savings
paid to the account holders on daily balance basis. bank accounts is not subject to Tax Deduction at Source.
b. Current Deposit Account However, this does not mean the interest earned on Savings
This account is mainly for big businessmen, accounts is completely tax free. It is exempt upto Rs. 10,000
companies&institutions, since there are no restrictions on in a year,&if the interest you earn from Savings accounts
number of withdrawals from this type of account. From this crosses this threshold, it becomes subject to tax.
account withdrawal can be made any number of times.
For the convenience of the account holders banks also allow C) Senior Citizens Savings Scheme, 2004:
withdrawal of amounts in excess of the balance of deposit. The salient features of the Senior Citizens Savings Scheme,
This facility is known as overdraft facility. 2004 are given below:
c. Fixed Deposit Account (also known as Term Deposit
Account) Tenure of the deposit 5 years, can be extended by 3 years.
Money is deposited in a fixed deposit account to earn account
interest at a higher rate. Rate of interest 9.3 per cent per annum
d. Recurring Deposit Account
Investment to be in Rs. 1000/-
The rate of interest allowed on the deposits in this account is
multiples of
higher than that on a savings bank deposit but lower than
Maximum investment Rs. 15 lakh
the rate allowed on a fixed deposit for the same period.
limit
Important points to remember Minimum eligible age 60 years (55 years for those who
a) Minimum age to open a bank account is now 10 years. for investment have retired on superannuation or
b) Maximum Interest rate is given on FD A/c. under a voluntary or special
CERTIFICATE OF DEPOSIT
This scheme was introduced in July 1989, to enable the RRBs) & All India Financial Institutions
banking system to mobilize bulk deposits from the market, within their Umbrella limit.
which they can attract at competitive rates of interest. CRR/SLR Applicable on the issue price in case of
Who can issue Scheduled commercial banks (except banks
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Investors Individuals (other than minor), IDR is an instrument in the form of a Depository Receipt created
corporations, companies, trusts, funds, by the Indian depository in India against the underlying equity
associations etc. shares of the issuing company. In an IDR, foreign companies
Maturity Min: 7 daysMax : 12 Months (in case of would issue shares, to an Indian companies would issue shares,
FIs minimum 1 year&maximum 3 years). to an Indian Depository which would in turn issue depository
Amount Min: Rs. 1 lac, beyond which in multiple receipts to investors in India.
of Rs. 1 lac
Int. Rate Market related. Fixed or floating
Loan Against collateral of CD not permitted
Nature Usance Promissory note. Can be issued
in Dematerialisation form only wef June
30, 2002
COMMERCIAL PAPER
i. CP introduced during 1990, is a short term money market
instrument issued as an unsecured usance promissory
note&privately placed.
ii. Who can issue Commercial paper (CP): Companies, primary
dealers (PDs)&all-India financial institutions (FIs).
iii. A company is eligible to issue CP if:
(a) Its tangible net worth, as per latest audited balance sheet, is
not less than Rs. 4 crore.
(b) Sanctioned working capital limit by bank/s or all-India MUTUAL FUND TERMS
financial institution/s; Asset Management Company: A company formed®istered
(c) The borrower accounts are classified as a Standard Asset by under the Companies Act 1956&approved as such by the SEBI to
financing bank/s/ institution/s& manage the funds of a mutual fund. Under an agreement (with
(d) Minimum credit rating from SEBI approved credit rating the trustees of the Mutual Fund), an AMC undertakes to
agency (CRA) is A3. Rating should not be due for review. formulated mutual funds schemes, distribute income as per
iv. Maturity : Min 7 days & max upto one year agreement.
v. Amount: Min Rs. 5 lakh or multiples thereof. Balanced fund: This fund invests in bonds&blue chip stocks to
conserve capital. It pays reasonable income capital appreciation.
MERCHANT BANKING Close-ended scheme: A scheme where funds are raised for a
Merchant banking stands for providing various services relation fixed period. The scheme is wound up after that period&funds
to capital market&financing the corporate sector. The Merchant are returned with capital appreciation to unit holders. Normally,
Bankers provide consultancy to the corporate sector on the a close-ended scheme is listed on a stock exchange.
issues like finance, capital structure&investment, mergers, Fixed income funds: A mutual fund which primarily invests in
takeover&amalgamations, establishing coordination between fixed income securities like bonds&debentures. The objective is
the government&the corporate sector. to provide monthly or yearly income to investors.
Net asset value: The price of value of one share of a fund. It is
CAPITAL MARKETS IN INDIA calculated by summing the quoted values of all the securities
a) It refers to all the facilities&institutional arrangements for held by the fund, adding in cash&any accrued
borrowing&lending medium&long term funds. income&subtracting liabilities&dividing the result by the
b) It is segregated into (i) gilt edged market&(ii) the number of shares outstanding. Fund companies compute the
industrial securities market. NAV once a day based on closing market prices.
c) The gilt edged marketrefers to the market for govt.&semi- Open ended scheme: A scheme is the one which continuously
govt. securities which are traded in the market in stable offers its units&buys them back from investors.
value&are sought after by banks&other institutions.
d) The industrial securities market refers to the market for DICGC (Deposit Insurance&Credit Guarantee Corporation of
shares&debentures of old as well as new companies. This India)
market is further divided as primary market&secondary market. 1. Which banks are insured by the DICGC?
The primary market refers to the setup which helps the Commercial Banks: All commercial banks including
industry to raise funds by issuing different types of securities, branches of foreign banks functioning in India, local area
which are issued directly to the investors, both banks®ional rural banks are insured by the DICGC.
individual&institutions. 2. What does the DICGC insure?
The secondary market refers to the network for subsequent In the event of a bank failure, DICGC protects bank deposits
sale&purchase of securities, after these are issued. that are payable in India. The DICGC insures all deposits
such as savings, fixed, current, recurring, etc. except the
Masala-bonds following types of deposits.
Masala Bonds are the bonds issued for rupee-denominated (i) Deposits of foreign Governments;
borrowings by Indian entities in overseas markets. (ii) Deposits of Central/State Governments;
INDIAN DEPOSITORY RECEIPTS (IDRs) (iii) Inter-bank deposits;
NPA-Non-Performing Asset & SARFAESI What is pledge : U/s 172 of Indian Contracts Act, pledge is
It means once the borrower has failed to make interest or bailment (delivery) of goods as security for payment of a loan.
principal payments for 90 days, the loan is considered to be a Only goods (movable assets excluding actionable claims (Sec
non-performing asset. 2(7) of Sales of Goods Act) can be pledged.
Q.3. Is there any time limit for the card issuing banks for NATIONALISATION OF BANKS
recrediting the customers account for a failed ATM/WLA Nationalisation of Imperial Bank of India&its conversion into
transaction? State Bank of India in July 1955.
Ans. As per the RBI instructions, banks have been mandated to Conversion of 8 major State-associated banks into subsidiary
resolve customer complaints by re-crediting the customers banks of SBI in 1959.
account within 7 working days from the date of complaint. Nationalisation of 14 Indian scheduled banks in July 1969.
Nationalisation of 6 more banks in April 1980 & Indian bank
Q.4. Are the customers eligible for compensation for delays merged into Punjab National Bank.
beyond 7 working days?
Ans. Yes. Effective from July 1, 2011, banks have to pay FOREIGN EXCHANGE RESERVES
compensation of Rs. 100/- per day for delays in re-crediting the
amount beyond 7 working days from the date of receipt of What actually is FOREX?
complaint for failed ATM transactions. The compensation has to India's foreign exchange reserves comprise foreign currency
be credited to the account of the customer without any claim assets, gold&special drawing rights allocated to it by the
being made by the customer. If the complaint is not lodged International Monetary Fund (IMF) in addition to the reserves it
within 30 days of transaction, the customer is not entitled for has parked with the fund. Foreign exchange reserves are
any compensation for delay in resolving his / her complaint. held&managed by the RBI.
Accounts for Foreign (Currency/Person) in India 2. Non-Resident (External) Rupee Account (NRE Account)
a) NRO A/c (Foreign Tourist) NRE account may be in the form of savings, current, recurring
1) Foreign tourists during their short visit to India can open a or fixed deposit accounts.
Non-Resident (Ordinary) Rupee (NRO) account (Current / Account will be maintained in Indian Rupees.
Savings) with any Authorised Dealer bank dealing in foreign Accrued interest income&balances held in NRE accounts are
exchange. Such account can be opened up to a maximum period exempt from Income tax.
of 6 months. Authorised dealers/authorised banks may at their discretion
2) Tourists can freely make local payments through the NRO allow for a period of not more than two weeks, overdrawings
account. All payments to residents exceeding INR 50,000 can be in NRE savings bank accounts, up to a limit of Rs.50,000.
made only by means of cheques / pay orders / demand drafts. Loans up to Rs.100 lakh can be extended against security of
b) EEFC A/c funds held in NRE Account either to the depositors or third
1) Exchange Earners' Foreign Currency Account (EEFC) is an parties.
account maintained in foreign currency with an Authorised
Dealer i.e. a bank dealing in foreign exchange. 3. Foreign Currency Non Resident (Bank) Account FCNR
2) It is a facility provided to the foreign exchange earners, (B) Account
including exporters, to credit 100 per cent of their foreign FCNR (B) accounts are only in the form of term deposits of 1
exchange earnings to the account, so that the account holders do to 5 years
not have to convert foreign exchange into Rupees&vice versa, Account can be in any freely convertible currency.
thereby minimizing the transaction costs. Loans up to Rs.100 lakh can be extended against security of
3) All categories of foreign exchange earners, such as individuals, funds held in FCNR (B) deposit either to the depositors or
companies, etc. who are resident in India, may open EEFC third parties.
accounts. The interest rates are stipulated by the Department of
4) An EEFC account can be held only in the form of a current Banking Operations&Development, Reserve Bank of India.
account. No interest is payable on EEFC accounts.
How Ranting done to Banks in India
RATING OF BANKS
RBIs 1995 working group headed by Sh. S. Padmanabhan
suggested method for rating.
Rating criteria: RBI rates the banks on a 5 point scale of A to E,
widely on the lines of international CAMELS rating model for
domestic banks&CALCS model for foreign banks.
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NBFC
CAMELS Rating for Domestic Banks A Non-Banking Financial Company (NBFC) is a company
C Capital adequacy ratio registered under the Companies Act, 1956 engaged in the
A Asset quality business of loans&advances, acquisition of shares/stocks/
M Management Effectiveness bonds/debentures/ securities issued by Government or local
authority or other marketable securities of a like nature, leasing,
E Earning (i.e. profitability)
hire-purchase, insurance business, chit fund business.
L Liquidity (asset-liability management)
S System&controls Difference between BANK & NBFC:
NBFCs lend&make investments&hence their activities are akin
Rating parameters for foreign banks to that of banks; however there are a few differences as given
C Capital adequacy ratio below:
A Asset quality i. NBFC cannot accept demand deposits;
L Liquidity ii. NBFCs do not form part of the payment&settlement
C Compliance system&cannot issue cheques drawn on itself;
iii. Deposit insurance facility of Deposit Insurance&Credit
S System&controls
Guarantee Corporation is not available to depositors of
NBFCs, unlike in case of banks.
BASEL-3 NORMS
a) The Basel Committee is the primary global standard-setter for
Register with RBI:
the prudential regulation of banks&provides a forum for
A company incorporated under the Companies Act,
cooperation on banking supervisory matters. Its mandate is
1956&desirous of commencing business of non-banking
to strengthen the regulation, supervision&practices of banks
financial institution as defined under Section 45 I(a) of the
worldwide with the purpose of enhancing financial stability. RBI Act, 1934 should comply with the following:
Stefan Ingves, Governor of Sveriges Riksbank (SWEDEN), is
a) It should be a company registered under Section 3 of the
the Chairman of the Basel Committee.
companies Act, 1954
b) Basel III or Basel 3 released in December, 2010 is the third in
b) It should have a minimum net owned fund of Rs 200 lakh.
the series of Basel Accords. These accords deal with risk
management aspects for the banking sector. Deposits in NBFC:
c) According to Basel Committee on Banking Supervision "Basel
a) Presently, the maximum rate of interest an NBFC can offer is
III is a comprehensive set of reform measures, developed by
12.5%. The interest may be paid or compounded at rests not
the Basel Committee on Banking Supervision, to strengthen
shorter than monthly rests.
the regulation, supervision&risk management of the banking
b) The NBFCs are allowed to accept/renew public deposits for a
sector". minimum period of 12 months&maximum period of 60
(d)Basel 3 measures aim to:
months. They cannot accept deposits repayable on demand.
Improve the banking sector's ability to absorb shocks arising
c) The deposits with NBFCs are not insured.
from financial&economic stress, whatever the source
d) The repayment of deposits by NBFCs is not guaranteed by
Improve risk management&governance
RBI.
Strengthen banks' transparency&disclosures.
TYPES OF MONEY
Three Pillars of Basel 3
Commodity Money - Commodity money value is derived
Pillar 1: Minimum Regulatory Capital Requirements
from the commodity out of which it is made. The commodity
based on Risk Weighted Assets (RWAs):
itself represents money,&the money is the commodity.
Maintaining capital calculated through credit,
market&operational risk areas (mainly that capital which can Representative Money - is money that includes token coins,
absorb risk.) or any other physical tokens like certificates, that can be
Pillar 2: Supervisory Review Process: reliably exchanged for a fixed amount/quantity of a
Regulating tools&frameworks for dealing with peripheral risks commodity like gold or silver.
that bank face. Fiat Money - Fiat money, also known as fiat currency is the
Pillar 3: Market Discipline: money whose value is not derived from any intrinsic value or
Increasing the disclosures that banks must provide to increase any guarantee that it can be converted into valuable
the transparency of banks commodity (like gold). Instead, it derives value only based On
government order (fiat)
Important Facts related to BASEL 3 Commercial Bank Money - Commercial bank money or the
Minimum Ratio of Total Capital To RWAs--10.50% demand deposits are claims against financial institutions
Minimum Ratio of Common Equity to RWAs--4.50% to 7.00% which can be used for purchasing goods&services.
Tier I capital to RWAs--6.00%
Core Tier I capital to RWAs--5.00% Reserve Money (M 0)
Capital Conservation Buffers to RWAs--2.50% Currency in circulation + Bankers deposits with the RBI +
Leverage Ratio--3.00% Other deposits with the RBI = Net RBI credit to the
Countercyclical Buffer--0% to 2.50% Government + RBI credit to the commercial sector + RBI's claims
LIQUIDITY ADJUSTMENT FACILITY A Governing council of the BCSBI looks after its financial
affairs&managerial policies. The tenure of the Council is 5
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years&the appointment of the Council after 5 years would be
with the concurrence of the RBI.