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in

UPDATED GK CAPSULE FOR SBI PO 2014 EXAM





Current RBI Policy & Reserve Rates:

Repo Rate 8% (Unchanged)

Reverse Repo 7% (Unchanged)

CRR 4% (Unchanged)
SLR 22.5% (Changed)
MSF 9% (Unchanged)
Bank Rate 9% (Unchanged)


Note: As on 3 June 2014, RBI (Reserve Bank of India) in its Second bimonthly monetary policy statement kept the key
policy rate (repo) unchanged. SLR was cut by 50 basis point from 23% to 22.5%.


News related to RBI:

1. RBI simplifies KYC norms for opening bank account: Customers need to submit only one documentary proof of
address either current or permanent while opening a bank account or while undergoing periodic updation, the
Reserve Bank of India. In case the address mentioned as per proof of address undergoes a change, fresh proof of
address may be submitted to the branch within six months, the RBI said in a notification to banks.
No proof is required to be submitted for such address for correspondence/local address, the RBI added.
However, this address may be verified by the bank through positive confirmation such as acknowledgment of
receipt of letter, cheque books, ATM cards; telephonic conversation; and visits.
2. Australia and New Zealand Banking Group (ANZ) has received inprinciple approval from the Reserve Bank to
open two new branches. The new branches will come up Gurgaon, NCR, and outer Bangalore.
3. RBI directive on foreign currency accounts: The Reserve Bank of India has directed banks to: convert credit
balances in any inoperative foreign currency (FC) denominated deposit into Indian rupee if the former remains not
in use for three years from the date of maturity of deposit.
4. RBI eases gold import norms; nod for select trading houses to procure from abroad : Under this scheme, an importer
has to ensure that at least 20 per cent of every lot of imported gold is exclusively made available for export
purpose.
5. RBI nod for bank loan tenure upto 10 years to boost export industry. In a major boost for the export industry, the
RBI has allowed banks to provide loans with tenures of up to 10 years.These loans will help exporters in ensuring
capital flows to fulfill longterm contracts. Existing norms allow banks to give loans for up to one year only.
This GK Capsule has been prepared by Career Power Institute Delhi (Formerly Known as Bank Power). This
document consists of all important news and events which can come in SBI PO Exam.

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6. The Reserve Bank of India on Wednesday said banks should make all new ATMs installed from July 1, 2014 as
talking ATMs with Braille keypads.
7. RBI, has decided that Indian companies will not be permitted to raise External Commercial Borrowings from
overseas branches

News Related to Banking & Finance

1. National Bank for Agriculture and Rural Development (Nabard)
has reduced the interest rate on its longterm refinance facility
to banks by 20 basis points to promote investments in
agriculture. The new rates will be 9.5 per cent (9.7 per cent
earlier) for 5 years and above and 9.7 per cent (9.9 per cent
earlier) for 35 years.
2. Finance Minister Arun Jaitley has been appointed on the Board
of Governors of Philippinesbased Asian Development Bank
(ADB).
3. Exim Bank has extended USD 46 million line of credit to
Mauritius for financing goods and defence related vehicles
purchases.
4. Bharatiya Mahila Bank (BMB) was included in the second
schedule of the Reserve Bank of India (RBI) Act, 1934. The
inclusion of the BMB in the second schedule was announced by
RBI in a notification issued in Mumbai on 21 May 2014.
Note: i. With the inclusion of BMB, total number of scheduled
commercial banks in India now stands at 90. As on 2 May 2014,
there were 89 Scheduled commercial banks in India.
ii. The inclusion of BMB in the second schedule of the RBI Act,
193 means that now it will be eligible for loans from RBI on bank
rate and also acquired membership of clearing houses.
5. World Bank has signed an agreement with the government to
provide a loan assistance of USD 1,006.20 million for Sarva
Shiksha Abhiyan III, which is the largest ongoing "Education for
All" programme in the world.
6. India's economic growth remained subdued at 4.7 per cent in 201314 and at 4.6 per cent in the fourth quarter of the
financial year, mainly due to a decline in manufacturing and mining output. According to official data released by the
Central Statistics Office in New Delhi, the country's gross domestic product in 201314 was less than its advance
estimate of 4.9 per cent.
7. FICCI and IDBI signed an MoU for easy access to organised finance facility at competitive interest rates for micro,
small and medium enterprise (MSME).

Important News (India & World):

1. Lithuania to become 19th country to adopt Euro as currency from 1 January 2015. It will become the 19th member
of the euro zone out of 28 countries in the European Union, and the last of the Baltic states to join.
Note: Estonia was the first Baltic state to become a member of the eurozone in 2011, followed by Latvia on 1
January 2014.
Lithuania Capital: Vilnius, President: Dalia Grybauskait, Prime Minister: Algirdas Butkeviius
2. Former India captain Sourav Ganguly joined the Supreme Courtappointed Mudgal committee, which is probing
the IPL betting and spotfixing scandal, as an expert on cricketing affairs.

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3. Telangana came into existence as the 29th state of India and TRS supremeo K Chandrasekhar Rao (KCR) was
sworn in as its first Chief Minister. ESL Narasimhan was sworn in as the first Governor of Telangana.
4. Madhya Pradesh government has appointed actor Madhuri Dixit as the brand ambassador for its Mamta
Abhiyaan (maternal and child health) campaign.
5. India is among the world's top five nations in concentrated solar power (CSP) technology capacity rankings topped
by the US, according to a new report.
Note: India is placed fourth, ahead of China, in the rankings recently released in a report by the Renewable Energy
Policy Network for the 21 Century (Ren21), an international multipolicy stakeholder network that promotes rapid
global transition to renewable energy.
6. India became the second largest exporter of textiles in the world. This was revealed by the recent data released by
UN Comtrade in Global Textiles as well as Apparel Exports.
7. India was elected for a second time to a UNESCO body, tasked with the safeguarding of intangible cultural heritage.
India won the election by a resounding 135 votes against a total of 142 votes cast by member states present at the
UNESCO headquarters in Paris.
Note: This is the second time that India has been elected to the Intergovernmental Committee for the Safeguarding of
the Intangible Cultural Heritage, the earlier term being from 20062010
8. The government has proposed to raise Foreign Direct Investment (FDI) in defence sector to 100 per cent. According
to sources, the Commerce and Industry Ministry has circulated a Cabinet note for interministerial consulatation.
9. Pakistan has said it would grant India the status of NonDiscriminatory Market Access (NDMA) to facilitate enhanced
bilateral trade.
10. For the third year in a row, Indira Gandhi International Airport in New Delhi has been adjudged the second best
airport in the world for its service quality
11. Sachin Tendulkar to be goodwill ambassador for national games. The 35 National Games to be held in seven cities
in the State early next year will have cricket legend Sachin Tendulkar as its goodwill ambassador.
12. Prime Minister Narendra Modi quit his Vadodara Lok Sabha seat, choosing to retain Varanasi in Uttar Pradesh,
where the BJP recorded a landslide victory bagging 71 of the 80 seats in the recent elections.
13. India has figured among the top 10 markets for the international business community, according to Australias
International Business Survey.
14. Malavath Poorna, a 13years and 11month old girl of
Andhra Pradesh became the youngest woman to climb
the Mount Everest, the highest peak in the world.
15. Singapore became the top source of FDI into India
replacing Mauritius: Department of Industrial Policy and
Promotion (DIPP)
16. China, Russia sign 30year gas deal
17. The Army has launched a coaching programme for the students of Chenab Valley belt in Jammu and Kashmir to help
them crack the prestigious Indian Institute of Technology Joint Entrance Exam (IITJEE).
18. Brazil honoured 100 years of Indian cinema by releasing two postage stamps
19. Flipkart buys Myntra for $300 mn. Flipkart announced that it has acquired Myntra, the countrys largest e
commerce site for fashion and lifestyle products.
20. Two Indian firms won the Ashden award (the green energy award) in 2014. Infosys received the International
Ashden Award for Sustainable Buildings. Another Indian firm Greenway Grameen won the Ashden Clean Energy for
Women and Girls award.
21. IndianAmerican student Akhil Rekulapelli won National Geographic Bee Championship
22. The UN Security Council has officially designated Boko Haram as a terrorist group linked to alQaeda and slapped
sanctions on the militant group that has carried out bombings and the recent abduction of over 200 school girls in
Nigeria.
23. Asia's biggest milk brand Amul announced to set up a dairy processing plant in Varanasi. The plant will initially
process five lakh litres per day with the capacity to double the production.

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Some Important Economic Terms:

1. Commercial Paper: Commercial Paper (CP) is an unsecured
money market instrument issued in the form of a promissory note.
Corporates, primary dealers (PDs) and the AllIndia Financial
Institutions (FIs) are eligible to issue CP. Maturity period: between
a minimum of 7 days and a maximum of up to one year from the
date of issue. CP can be issued in denominations of Rs.5 lakh or
multiples thereof. Only a scheduled bank can act as an IPA
(Issuing and Paying Agent) for issuance of CP.
2. Treasury Bills: Treasury bills (Tbills) offer shortterm
investment opportunities, generally up to one year. They are thus
useful in managing shortterm liquidity. At present, the
Government of India issues three types of treasury bills through
auctions, namely, 91day, 182day and 364day. There are no
treasury bills issued by State Governments. Treasury bills are
available for a minimum amount of Rs.25,000 and in multiples of
Rs. 25,000. Treasury bills are issued at a discount and are
redeemed at par. Treasury bills are also issued under the Market
Stabilization Scheme (MSS).
3. Certificates of Deposit (CD): Certificate of Deposit (CD) is a
negotiable money market instrument and issued in dematerialised
form or as a Usance Promissory Note against funds deposited at a
bank or other eligible financial institution for a specified time
period.
Note: CDs can be issued by (i) scheduled commercial banks
{excluding Regional Rural Banks and Local Area Banks}; and (ii)
select AllIndia Financial Institutions (FIs) that have been
permitted by RBI
Minimum amount of a CD should be Rs.1 lakh, and in multiples of
Rs. 1 lakh thereafter. The maturity period of CDs issued by banks
should not be less than 7 days and not more than one year, from the date of issue.
4. Fiscal Deficit: A deficit in the government budget of a country and represents the excess of expenditure over income.
So this is the amount of borrowed funds require by the government to meet its expenditures completely.
5. Direct Tax: A direct tax is that which is paid directly by someone to taxing authority. Income tax and property tax
are an examples of direct tax. They are not shifted to somebody else.
6. Indirect Tax: This type of tax is not paid by someone to the authorities and it is actually passed on to the other in the
form of increased cost. They are levied on goods and services produced or purchased. Excise Tax, Sales Tax, Vat,
Entertainment tax are indirect taxes.
7. NOSTRO Account: A Nostro account is maintained by an Indian Bank in the foreign countries.
8. VOSTRO Account: A Vostro account is maintained by a foreign bank in India with their corresponding bank.
9. SDR (Special Drawing Rights): SDR are new form of International reserve assets, created by the International
Monetary Fund in 1967. The value of SDR is based on the portfolio of widely used countries and they are maintained
as accounting entries and not as hard currency or physical assets like Gold.
10. Cheque: Cheque is a negotiable (which can be transferred to another person in exchange of money) instrument
drawn on a specified banker ordering the banker to pay a certain sum of money to the drawer of cheque or another
person. Cheque is always payable on demand.
Types of Cheque:
i. Ante Dated Cheque: A cheque bearing a date prior to actual date of signing the cheque or opening of an account is
called an ante dated cheque which is valid and can be paid till it become stale.
ii. Stale Cheque: If the validity of the cheque has already expired it is called stale cheque which cannot be paid. The
normal maximum validity of cheque is 3 months earlier it was 6 months.
iii. Post Dated Cheque: The cheque which bears a date subsequent to the date on which it is drawn. For ex. A cheque
drawn on 10
th
January, 2013 bears the date of 12
th
January, 2013.

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11. Crossing of Cheque: Crossings refers to drawing two parallel lines across the face of the cheque.
A crossed cheque cannot be paid in cash across the counter, and is to be paid through a bank either by transfer,
collection or clearing. A general crossing means that cheque can be paid through any bank and a special crossing
means where the name of the Bank is indicated on the cheque can be paid only through the named bank.
Dishonour of Cheque: Non payment of cheque by the paying banker with a return memo giving reasons for the
non payment.
12. Demand Draft: Demand draft is defined as an order to pay money drawn by one office of a bank upon another office
of the same bank for a sum of money payable to order on demand.
Cheque and Demand draft both are used for transfer of money.
Difference b/w Cheque & DD: A cheque can be bounce but D.D cannot be bounce as it is already paid.
13. Current account: Current account with a bank can be opened generally for business purpose. There are no
restrictions on withdrawals in this type of account. No interest is paid in this type of account.
14. NEFT (National Electronic Fund Transfer): NEFT enables funds transfer from one bank to another but works a bit
differently than RTGS. NEFT is slower than RTGS. The transfer is not direct and RBI acts as the service provider to
transfer the money from one account to another. You can transfer any amount through NEFT, even a rupee.
15. RTGS (Real time gross settlement ): RTGS system is funds transfer systems where transfer of money or securities

takes place from one bank to another on a "real time" and on "gross" basis.
Settlement in "real time" means payment transaction is not subjected to any waiting period. The transactions are
settled as soon as they are processed. Minimum & Maximum Limit of RTGS: 2 lakh and no upper limit.
16. BOND: Publicly traded ling term debt securities issued by corporations and governments, whereby the issuer agrees
to pay a fixed amount of interest over a specified period of time and to repay a fixed amount of principal maturity.
17. Call Money: Call Money is the borrowing or lending of funds for 1day.
18. Notice Money: Money borrowed or lend for period between 2 days and 14 days it is known as Notice Money
19. Term Money: Term Money refers to borrowing/lending of funds for period exceeding 14 days
20. CRAR(Capital to Risk Weighted Assets Ratio): Capital to risk weighted assets ratio is arrived at by dividing the
capital of the bank with aggregated risk weighted assets for credit risk, market risk and operational risk.
21. Non Performing Assets (NPA): An asset, including a leased asset, becomes non performing when it ceases to
generate income for the bank.
22. INFLATION: inflation is a rise in the general level of prices of goods and services in an economy over a period of
time. When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation
reflects a reduction in the purchasing power per unit of money a loss of real value in the medium of exchange and
unit of account within the economy.
23. DEFLATION: deflation is a decrease in the general price level of goods and services. Deflation occurs when
the inflation rate falls below 0% (a negative inflation rate). This should not be confused with disinflation, a slow
down in the inflation rate (i.e., when inflation declines to lower levels).
24. REFLATION: When government wants to control the deflation condition, the suggests RBI to decrease the key rates.
If deflation in not controlled, govt. makes a fiscal policy. (taxes decreased, subsidy on loan increased).
25. DISFLATION: When government wants to control the inflation condition, the suggests RBI to increase the key rates.
If inflation in not controlled, govt. makes a fiscal policy. (taxes increased, subsidy on loan decreased)
26. Doubtful Asset: An asset would be classified as doubtful if it has remained in the substandard category for a period
of 12 months.
27. CASA Deposit: Deposit in bank in current and Savings account.
28. Liquid Assets: Liquid assets consists of cash, balances with RBI, balances in current accounts with banks, money at
call and short notice, interbank placements due within 30 days and securities under held for trading and available
for sale categories excluding securities that do not have ready market.
29. Import parity price (IPP): The price that a purchaser pays or can expect to pay for imported goods such as petrol,
diesel or cooking gas. The import parity price (IPP) is the price at the border of a good that is imported, which
includes international transport costs and tariffs. The IPP is used in International trade and is sometimes referred to
as the International Benchmark Price.

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30. Export parity price (IPP): The price that a producer gets or can expect to get for its product if exported, equal to
the Freight on Board price minus the costs of getting the product from the farm or factory to the border. The EPP
applies only to the quantity that is exported and not to the quantity that is sold domestically
31. Participatory Notes or Pnotes: are derivative instruments, used by Foreign Institutional Investors (FIIs) who are
NOT registered with SEBI. PNotes, mostly used by overseas HNIs (High Networth Individuals), hedge funds and
other foreign institutions, allow them to invest in Indian markets through registered Foreign Institutional Investors
(FIIs), while saving on time and costs associated with direct registrations.
32. Devaluation: means official lowering of the value of a country's currency within a fixed exchange rate system, by
which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency.
33. Depreciation: is used to describe a decrease in a currency's value (relative to other major currency benchmarks)
due to market forces, not government or central bank policy actions.


New Appointment in India

1. Narendra Damodardass Modi sworn in as the 15th Prime Minister of the country.

The list of Cabinet Ministers includes:
2. Rajnath Singh: Home Minster
3. Sushma Swaraj: External Affairs & Overseas Indian Affairs
4. Arun Jaitley: Finance Corporate Affairs & Defence
5. M. Venkaiah Naidu: Urban Development Housing and Urban Poverty Alleviation & Parliamentary Affairs
6. Nitin Jairam Gadkari: Road Transport and Highways Shipping + Rural Development, Panchayati Raj & Drinking
Water and Sanitation
Note: Nitin Jairam Gadkari given additional charge of Rural Development, Panchayati Raj & Drinking Water and
Sanitation as Gopinath Munde died in Road accident.
7. D.V. Sadananda Gowda: Railways
8. Uma Bharati: Water Resources, River Development and
Ganga Rejuvenation
9. Dr. Najma A. Heptulla: Minority Affairs
10. Ramvilas Paswan: Consumer Affairs, Food and Public
Distribution
11. Kalraj Mishra: Micro, Small and Medium Enterprises
12. Maneka Gandhi: Women and Child Development
13. Ananthkumar: Chemicals and Fertilizers
14. Ravi Shankar Prasad: Communications and Information Technology & Law and Justice
15. Ashok Gajapathi Raju: Civil Aviation
16. Anant Geete: Heavy Industries and Public Enterprises
17. Harsimrat Kaur Badal: Food Processing Industries
18. Narendra Singh Tomar: Mines & Steel Labour and Employment
19. Jual Oram: Tribal Affairs
20. Radha Mohan Singh: Agriculture
21. Thaawar Chand Gehlot: Social Justice and Empowerment
22. Smriti Zubin Irani: Human Resource Development
23. Dr. Harsh Vardhan: Health and Family Welfare

24. Sumitra Mahajan: new Lok Sabha Speaker
25. Chandrababu Naidu swornin as First Chief Minister of Andhra Pradesh.

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26. K Chandrasekhar Rao (KCR) was sworn in as its first Chief Minister of Telangana
27. Finance Minister Arun Jaitley has been appointed on the Board of Governors of Philippinesbased Asian
Development Bank (ADB).
28. Mallikarjun Kharge elected leader of Congress in Lok Sabha.
29. Nripendra Mishra appointed Principal Secretary to PM
30. Mukul Rohatgi appointed 14
th
New AttorneyGeneral of India. He replace G.E. Vahanvati
31. Ajit Kumar Doval appointed as new National Security Advisor
32. Kamal Nath appointed protem Speaker of 16 Lok Sabha
33. Rajiv Mathur takes over as New CIC (Chief Information Commissioner). He succeeds Sushma Singh,
34. Anandiben Patel: new CM of Gujarat
35. Naveen Patnaik sworn in as Odisha chief minister
36. Pawan Chamling sworn Sikkim CM for record 5th time
37. Jitan Ram Manjhi: new Bihar CM
38. T R Zeliang appointed new CM of Nagaland. He succeed Neiphiu Rio
39. R K Malhotra, Director (R&D) at Indian Oil Corp (IOC), has been given additional charge as Chairman
40. N K Verma is new ONGC Videsh MD
41. Nabam Tuki swornin as CM of Arunachal Pradesh for second term.

New Appointment in World

1. Prince Zeid al Hussein (Jordans ambassador) nominated as U.N. High Commissioner for Human Rights
2. Bashar alAssad elected Syrian President third time
3. Dalia Grybauskaite: Presidential election of Lithuania
4. Peter Mutharika is new Malawi presidential
5. Abdel Fattah Al Sissi elected as Egypt's new President
6. Jacob Zuma sworn in as South Africa's President for second term
7. Petro Poroshenko: New President of Ukraine
8. Hiroshi Naka appointed as Vice President and Auditor
General of World Bank.
9. Kathleen Stephens Named Interim US Ambassador to
India.
SUMMIT

1. 40th G7 summit 2014 held at Brussels.
Note: It was the first time that the EU hosted a G7 summit. The summit is jointly represented by the European
Council President Herman van Rompuy and the European Commission President.

Note: Originally, a G8 summit was scheduled to take place in Sochi (Russia) in early June 2014 under a Russian
presidency. Due to the Russian Federation's violation of Ukraine's sovereignty and territorial integrity, the G7
leaders decided to meet in Brussels on 45 June 2014 in the G7 format instead.

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Awards & Honours

1. Vishwanath Tripathi, eminent Hindi writer on 29 May 2014
was awarded with the prestigious Vyas Samman for the year
2013.
2. Irish author Eimear McBride won the 2014 Bailey's Women's
Prize for Fiction for her first novel A Girl is a HalfFormed
Thing.
3. Project Mobile Seva under DeitY won the 2014 United
Nations Public Service Award
Note: The project Mobile Seva under Department of Electronics
and Information Technology (DeitY) won second rank in the
2014 United Nations Public Service Award. Department of
Electronics and Information Technology comes under Ministry
of Information and Technology.


LEADERS VISITED INIDIA

1. Chinese Foreign Minister Wang Yi visited India on 7
th
June

2. Oman Foreign Minister Yousuf bin Alawi bin Abdullah visited
India on 3
rd
June.

OBITUARY
1. Gopinath Munde: Rural Development Minister passes away
2. Ideologist and Sanskrit Scholar Sukumari Bhattacharji died
3. Father of Malaysian Hockey Sultan Azlan Shah passes away
4. Veteran CPI(M) leader R.Umanath passed away
5. Madhav Mantri, a cricketing doyen, passes away
6. Veteran Congress leader and former minister Sitaram
Prasad passed away
7. N Srinivasan, the veteran nuclear scientist died
8. Sir Jack Brabham, threetime F1 champion passes away
Sports News

Tennis:
French Open 2014:
Mens Title: Rafael Nadal clinches record ninth French Open title. He defeated Novak Djokovic in the final.
Note: Rafal Nadal now won 14 Grand Slam singles titles till now.

Womens Title: Maria Sharapova defeat Simona Halep to win French Open Title second time.
Note: Maria Sharapova now won 5th Grand Slam title.

Italian Tennis Open 2014:
Women's Title: Serena Williams defeated Sara Errani.

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Men's Title: Novak Djokovic defeated Rafael Nadal

IPL 7: Kolkata Knight Riders defeat Kings XI Punjab to lift IPL 7 Trophy for second time.

Ceat awards 2014: The award winners:
Cricketer of the Year: Virat Kohli (India);
ODI Player of the Year:Shikhar Dhawan (India);
T20 Player of the Year: Shakib Al Hasan
(Bangladesh);
Test Player of the Year: Mitchell Johnson
(Australia);
Popular Choice award: Glenn Maxwell (Australia);
Young Player award:
Vijay Zol (Maharashtra)
Domestic Cricketer of the Year: Robin
Uthappa (India)
Special award for Indian Player of the Year: R
Ashwin (India)
Lifetime Achievement award: Syed Kirmani (India).

1. China defeated Japan to won Uber Cup 2014 of badminton
2. Japan defeated Malaysia to lift maiden Thomas Cup Badminton trophy 2014.
3. Japan beat Australia in Women's Asian Cup Football final.
4. Indian batting star Virat Kohli has been rated second behind British Formula One racer Lewis Hamilton in the list of
most marketable athletes by the UK magazine, 'SportsPro'.
5. Snooker Champion Chitra nominated for Arjuna Awards 2014
6. Madhya Pradesh Hockey Academy (MPHA) defeated Jharkhand 52 to win the fourth Hockey India SubJunior Girls
National Championship (Division A) in Pune
7. Mercedes driver Nico Rosberg of Germany won Monaco Grand Prix of Formula One
8. Hashim Amla appointed as new test captain of South African cricket team.
9. Ab de Villiers named South African Cricketer of the Year
10. Triple jumper Arpinder Singh breaks national record, qualifies for Glasgow Commonwealth Games
11. Daniel Ricciardo won the Canadian Grand Prix 2014.

Headquarter of International Organisation

UNO New York
UNICEF New York
UNESCO Paris
UNIDO Vienna
WHO Geneva
UNFPA New York
SAARC Kathmandu
ILO Geneva
World Bank Washington D.C
IMF Washington DC
WTO Geneva
International Court Of Justice The Hague
International Atomic Energy Agency Vienna
International Committee of the Red Cross Geneva
International Maritime Organisation London
Food and Agricultural Organisation Rome
World Meteorological Organisation Geneva
Amnesty International London
Transparency International Berlin
World Intellectual Property Organization Geneva
International Renewable Energy Agency Abu
Dhabi (UAE)
Commonwealth of Nations London
International Standards Organisation Geneva







IMPORTANT DATES & DAYS OF: JAN JULY

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DATE DAY

12
th
January National Youth day
15
th
January Army day
24
th
Jan National Girl Child Day.

25
th
January National tourism day/ Voters
day

30
th
January National Martyrs day &
World anti Leprosy Day

3
rd
Feb World Cancer Day.
28
th
Feb National science day
8
th
March International women day

9
th
March World Kidney day

1st March Zero Discrimination Day
15
th
March World Consumer rights day
20
th
March World Sparrow Day &
International Happiness
Day.
22
nd
March World water day (Theme
2014: Water and Energy)
23
rd
March World Meteorological day

24
th
March World T.B. day

2 April World Autism Awareness
Day
7
th
April World Health day

21
st
April Civil service day

22
nd
April World Earth day

23
rd
April World Books day
24
th
April Panchayat Divas
1
st
May International Labour day
3
rd
May Press Freedom Day

11
th
May National Technology day
21
st
May Anti Terrorism day (Death
day of Rajiv Gandhi)

31
st
May Anti Tobacco day (No
smoking day)
5
th
June World Environment day

11
th
July World population day

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ABBREVIATION IN NEWS

1. DICGC : Deposit insurance and credit guarantee corporation.
2. OLTAS : Online Tax Accounting System is used for Direct Taxes
3. TIN: Tax Information Network
4. IMPS: Interbank Mobile Payment Service
5. BSBDA Basic Savings Bank Deposit Account
6. FCNR(B) Foreign Currency NonResident Bank
7. TARC Tax Administration Reform Commission
8. ITEs: IntraGroup Transactions and Exposures
9. LCR: Liquidity Coverage Ratio
10. NSFR: Net Stable Funding Ratio
11. REER: Real Effective Exchange Rate
12. LRMT: Liquidity risk monitoring tools
13. CBS: Core Banking Solution
14. DEAF: Depositor Education and Awareness Fund
15. CRAR: Capital to Riskweighted Assets Ratio
16. External Commercial Borrowings (ECB)
17. SWIFT: Society for Worldwide Interbank Financial
Telecommunication
18. FSLRC: Financial Sector Legislative Reforms Commission
19. MIBOR: Mumbai InterBank Offer Rate
20. LIBOR: London InterBank Offer Rate
21. LAF Liquidity Adjustment Facility
22. GIRO Government Internal Revenue Order
23. EEFC Exchange Earner's Foreign Currency
24. FRBMA: Fiscal Responsibility and Budget Management Act
25. ALM Asset Liability Management
26. AMFI Association of Mutual Fund in India.
27. TIEA Tax Information exchange Agreement
28. CAR Cash Adequacy Ratio
29. CCEA Cabinet Committee on Economic Affairs
30. CECA Comprehensive Economic Cooperation Agreement
31. CEPA Comprehensive Economic Partnership Agreement
32. DTAA Double Taxation Avoidance Agreement
33. ECBs External Commercial Borrowings
34. EEFC Exchange Earner's Foreign Currency
35. EFSF European Financial Stability Facility
36. FEMA Foreign Exchange Management Act
37. FII Foreign Institutional Investor.
38. FINO Financial Inclusion Network Operation
39. FIPB Foreign Investment Promotion board
40. FSLRC Financial Sector Legislative Reforms Commission
41. FTA Free trade agreement
42. GAAR General anti avoidance rule
43. GSLV GeoSynchronous Launch Vehicle
44. MSFMarginal Standing Facility
45. NBFCNon Banking Finance Companies
46. NCTC National CounterTerrorism Centre
47. NEFT National Electronic Funds Transfer
48. NSG Nuclear Suppliers Group
49. PPP Public Private Partnership & Purchasing Power parity
50. PSLV Polar Satellite Launch vehicle
51. RTGS Real Time Gross Settlement
52. SLRStatutory Liquidity Ratio
53. TAPI TurkmenistanAfghanistanPakistanIndia.
54. QFI Qualified Foreign Investors
55. VVPAT 'Voter Verifiable Paper Audit Trail'
56. Tax Information Exchange Agreement (TIEA)