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PREFACE
SBI PO General Awareness, Marketing and Computers PDF Package is the second part of State Bank of
India Probationary Officers Recruitment Preparation Package.
SBI PO PDF Package from jagranjosh.com is a perfect study material for those candidates, who are
willing to achieve a good score in the SBI Probationary Officers Recruitment Exam. The exam is going to
be held on 28 April 2013.
The SBI PO General Awareness, Marketing and Computers PDF Package are prepared by the experts of
jagranjosh.com with precision. Our team of experts has put in their best efforts to bring out a perfect
preparation package that is an amalgamation of relevant ingredients like General Awareness about
Banking and Economy, Current Affairs (from 1st August 2012 to 15th March 2013), Marketing Concepts
and Computer Knowledge essential for the bank recruitment examination.
The terms and concepts included in the package are planned to suit the specific needs of the
examination, thereby helping the candidates in brushing up their skills and expertise in every part of this
section.
It is advisable for the candidates appearing in the examination to go through the PDF Package with
utmost seriousness and exercise themselves for proper time management. This will allow the candidates
to cut short their valuable time and use in the difficult sections like data analysis and interpretation and
reasoning.
Jagranjosh SBI PO Exam PDF Package 2013
The SBI PO Preparation PDF Package includes:
Part I
Reasoning
Data Analysis and Interpretation
General English
Practice Set
Previous Years Exam Papers
Part II
Jagranjosh.com wishes all the best to every candidate for the upcoming examination. Keep your spirits
high and do well in the examination.
All the Best
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TABLE OF CONTENTS
Preface ............................................................................................................................................ 2
Money & Banking.......................................................................................................................... 49
Money, Banking and Finance .................................................................................................... 49
Definition of Money .............................................................................................................. 49
Functions of Money .............................................................................................................. 49
Kinds of Money ..................................................................................................................... 49
Measures of Money Supply .................................................................................................. 50
Credit and the Financial System ........................................................................................... 50
Financial System.................................................................................................................... 52
Reserve Bank of India............................................................................................................ 52
Functions of rbi ..................................................................................................................... 52
Statutory Liquidity Ratio (SLR) .............................................................................................. 53
Cash Reserve Requirement (CRR) ......................................................................................... 53
Bank Rate .............................................................................................................................. 54
Selective Credit Control ........................................................................................................ 54
Banking Regulation Act 1949 ................................................................................................ 54
Commercial Banks................................................................................................................. 56
Nationalisation of Banks ....................................................................................................... 56
Functions of Banks ................................................................................................................ 57
Classification ......................................................................................................................... 58
Basel-II Norms ....................................................................................................................... 58
Basel-II Accord....................................................................................................................... 58
What is an NPA?.................................................................................................................... 59
Regional Rural Banks (RRBs) ................................................................................................. 59
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Deflation................................................................................................................................ 89
Depreciation.......................................................................................................................... 89
Depression ............................................................................................................................ 89
Derivatives ............................................................................................................................ 89
Development......................................................................................................................... 89
Dividend ................................................................................................................................ 89
Economies of Scale ............................................................................................................... 89
Employment .......................................................................................................................... 90
Equilibrium Price ................................................................................................................... 90
Equity .................................................................................................................................... 90
Exchange Rate ....................................................................................................................... 90
Explicit Cost ........................................................................................................................... 90
Factors Cost........................................................................................................................... 90
Financial Market ................................................................................................................... 90
Final Products........................................................................................................................ 90
Fiscal Policy ........................................................................................................................... 91
Fixed Cost .............................................................................................................................. 91
Foreign Direct Investment .................................................................................................... 91
Fractional Reserve System .................................................................................................... 91
Free Trade Agreements ........................................................................................................ 91
Full Employment ................................................................................................................... 91
Goods .................................................................................................................................... 91
Giffen Goods ......................................................................................................................... 91
Gross Domestic Product ....................................................................................................... 92
Hedge .................................................................................................................................... 92
Human Capital....................................................................................................................... 92
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Hyper-Inflation ...................................................................................................................... 92
Industrial Policy ..................................................................................................................... 92
Inflation ................................................................................................................................. 92
Intermediate Products .......................................................................................................... 92
International Monetary Fund ............................................................................................... 92
Investment ............................................................................................................................ 92
Joint Stock Company ............................................................................................................. 93
Labor Force ........................................................................................................................... 93
Loan Capital........................................................................................................................... 93
Liquidity Trap ........................................................................................................................ 93
Marginal Cost ........................................................................................................................ 93
Macroeconomics................................................................................................................... 93
Microeconomics.................................................................................................................... 93
Monetary Policy .................................................................................................................... 93
Money ................................................................................................................................... 94
Mortgage............................................................................................................................... 94
Multiplier .............................................................................................................................. 94
Monopoly .............................................................................................................................. 94
National Income .................................................................................................................... 94
Near Money .......................................................................................................................... 94
Nominal Value ....................................................................................................................... 95
Oligopoly ............................................................................................................................... 95
Payroll Tax ............................................................................................................................. 95
Perfect Competition .............................................................................................................. 95
Poverty Line .......................................................................................................................... 95
Preference Share................................................................................................................... 95
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The Implementation of GAAR deferred by 2 Years, to Come into Force from 1April 2016 118
Krishi Karman Awards for the year 2011-2012 presented by the President of India ........ 118
Union Government approved Ten Percent Stake Sale in Engineers India Ltd (EIL) ........... 119
RBI set up Working Group to review Banking Ombudsman Scheme ................................. 119
Manufacturing Sector Displayed Six-Month Highest Growth in December 2012: Survey . 119
Rollout of Direct Benefits Transfers started on 1 January 2013 ......................................... 120
FII Investment in the Indian stock market surpassed more than 24000 crore Rupees in
December 2012 ................................................................................................................... 120
Union Government Announced More Incentives to Exporters Hit By Global Meltdown .. 121
Indirect Tax Collection Increased at 16.8 Percent to 2.92 Lakh Crore Rupees in AprilNovember 2012 .................................................................................................................. 121
UN Slashed World Growth Forecast to 2.4 Percent for year 2013 ..................................... 121
Foreign Investments through P-Notes Increased to 8-Month Highest .............................. 121
Union Government of India lowered the Growth Projection for Current Fiscal to 5.7
Percent ................................................................................................................................ 122
Cabinet Committee on Economic Affairs approved the Setting up of CCI ......................... 122
Retail Inflation Increased to 9.90 Percent in November 2012 ........................................... 122
Indian Economy Would Dominate the Economy of the World by 2030: US Intelligence
Community Report.............................................................................................................. 123
Security and Exchange Board of India (SEBI) allowed 12 more Alternative Investment Funds
............................................................................................................................................. 124
Reserve Bank of India (RBI) signed Currency Swap Agreement with Bank of Japan .......... 124
Core Sectors of Indian Economy Grew By 6.5 Percent in October 2012 ............................ 124
Economic Growth Declined in July-September Quarter of Fiscal Year 2012-2013 ............ 124
National Cancer Institute and a National Cardio Care Centre to be developed at Jhajjar . 125
India signed 70 million US Dollar loan agreement with World Bank ................................. 125
Reserve Bank of India asked Banks not to Provide Loans for Purchase of Gold ................ 125
Income Ceiling for LIG raised by Union Government of India ............................................ 126
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Union Cabinet of India cleared Proposal for Spectrum Sharing ......................................... 126
Civil Aviation Ministry approved New Traffic Rights to Indian Carriers ............................. 126
South African Government Rolled Out Nelson Mandela Bank Notes ................................ 126
Government decided to digitize Cable TV Network in Thirty Eight Cities .......................... 127
GAIL and RSPCL signed an Agreement of Joint Venture on Gas Supply Pipeline Project... 127
Northern Railways introduced Pink Coloured Tatkal Forms .............................................. 127
RBI Expanded the Lending Norms on Priority Sectors ........................................................ 127
Civil Aviation Ministry announced omission of Airport Development Fee from January 2013
............................................................................................................................................. 128
Pilot Projects for development of People Friendly Roads approved ................................. 128
U.S. Treasury Secretary Discussed Economy and Trade Barriers with India ...................... 128
Security Deposit on New connection of LPG Cylinder increased ....................................... 128
IMF Slashed Indias growth forecast for 2012 to 4.9 Percent ............................................ 128
To enhance surveillance 400 CCTV cameras installed at 10 railway stations in Delhi, NCR
............................................................................................................................................. 129
Union Government approved 14 FDI proposals worth 113.35 crore Rupees .................... 129
Website for SMS alerts and Rail passenger enquiry launched by Railways ....................... 130
12th five-year plan focused on improvement of health, education and sanitation .......... 130
CCEA approved 1.90 crore lakh package on debt restructuring for the SEBs .................... 130
Foreign Investment cap hiked to 74 percent for Broadcasting Services ............................ 130
GAAR Report submitted by the Shome Committee to the Finance Ministry ..................... 131
Finance Ministry demanded the Bank details of Coal Mining Firms .................................. 132
RBIs data related to sectoral deployment of credit states ................................................ 132
Trial to make Maharaja Express affordable for domestic tourists ..................................... 133
Shimla Municipal Corporation introduced Green Tax on vehicles entering Shimla ........... 133
Chidambaram pitched for Prime Minister led National Investment Board ....................... 133
IRCTC introduced Interbank Mobile Payment System ....................................................... 133
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Proposal for 51 percent FDI in multi-brand retail and 49 percent in Aviation passed ....... 134
EGOM cut down the loan interest rate to 7 percent in the drought affected areas ......... 135
Report: Indian external debts are within manageable limits ............................................. 136
Cabinet gave a nod to two subsidiaries of Air India: AIESL and AITSL ................................ 136
Government cleared Rs 808 crore FDI proposal by Cloverdell ........................................... 136
Government approved 14000 Crore Rupees Fund to spur Production of Hybrid and
Electrical Vehicl ................................................................................................................... 136
SEBI allowed Partial Flexibility in IDRs for Investors ........................................................... 137
Public Accounts Committee (PAC) called for Deterrent Penal Provisions against Units in
SEZs ..................................................................................................................................... 137
India eased External Overseas Borrowing Rules to enable Easier Access to Cheap Dollar
Funds ................................................................................................................................... 137
Union Finance Ministry approved 49 Percent FDI in Insurance and Pension Sector ......... 138
Air India losses pegged at 28046 Crore Rupees.................................................................. 138
RBI stipulated the Norms for Securitisation of Loans by NBFCs ......................................... 138
India's Marine Exports to Grow by over 28% to USD 4.5 billion in 2012-13 Fiscal ............ 138
Regulator SEBI permitted seven Alternative Investment Funds (AIFs) to start Operation in
India .................................................................................................................................... 139
CAG pegged Public Exchequers Loss at 1.86 Lakh Crore in Coal Blocks Allocation Scam . 139
PMEAC pegged Indias Growth at 6.7 Percent in the Fiscal Year 2012-13 ......................... 140
Inter-ministerial group recommended Linking Patented Drug Prices to Per-capita Income
............................................................................................................................................. 140
Indias Exports declined to 22.4 Billion Dollar in July 2012 ................................................ 140
Moodys cut Indias Growth Forecast to 5.5 Percent ......................................................... 140
Indias Industrial Output declined to 1.8 Percent in June 2012 ......................................... 141
Fitch Ratings revised the Indian Retail Sector Outlook for the second half 2012-13 to
Negative .............................................................................................................................. 141
RBI permitted Banks to lend to Telecom Companies for the Upcoming Auction for
Spectrum ............................................................................................................................. 141
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Indias NSE became the Worlds Largest Bourse in Equity Segment as per WFEs Global
Ranking................................................................................................................................ 142
Union Cabinet sets Base Price for Auction of 2G Spectrum at 14000 Crore Rupees ......... 142
RBI directed NBFCs to maintain Net-owned Funds (NOF) at Rs 3 crore by 31 March 2013
............................................................................................................................................. 142
Indias Fiscal Deficit reached 37 Percent of the Budget Estimate ...................................... 143
RBI signed MOU with Financial Regulators of 9 Countries to promote Sharing of
Information ......................................................................................................................... 143
Indias Exports slipped by 5.45 Percent in June 2012 ......................................................... 143
Corporate Affairs in Current Scenario .................................................................................... 145
Bharat Heavy Plate & Vessels Ltd. (BHPV) Merged With BHEL .......................................... 145
NTPC Signed 250 Million US Dollars Loan Agreement with Banks ..................................... 145
TRAI Released Pre-Consultation Paper on Country-Wide Mobile Number Portability ...... 145
Dabur India roped in Irrfan Khan to Endorse Babool Salt Toothpaste ............................... 146
NTPL Signed Agreement with a Group of Banks for 1000-MW Power Project .................. 146
Telecom Operator Uninor closed its Operations in Mumbai following SC Order .............. 146
AMR Sealed 11 Billion US Dollars Merger with US Airways ............................................... 146
Reckitt Benckiser signed a Global Partnership Deal with Save the Children ...................... 146
Mahindra & Mahindra (M&M) Acquired Stake of Navistar International Corporation ..... 147
Parle-G Became the First Indian FMCG Brand to Cross 5000 Crore Rupees Mark ............. 147
MCX-SX, the Third National Stock Exchange Made its Debut in India ................................ 147
Thomas Cook India acquired Ikya, the Human Resource Staffing Solutions Company ...... 147
Mukund Govind Rajan Appointed As Group Spokesperson and Brand Custodian of Tata 148
Times Television Network Tied Up With MSM Discovery Pvt Ltd. ..................................... 148
Flight safety International Entered India through Agreement with Aviators India ............ 148
ICICI Partnered With Aircel to Launch Mobile Banking Service, Mobile Money ................ 148
Thirty Software Companies Separated From NASSCOM, Formed a New Association ....... 149
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Bharti Airtel Launched Emergency Alert Service for Women Subscribers ......................... 149
Zovi, the Online Fashion Retailer Acquired Rival Inkfruit ................................................... 149
RIM Changed to Blackberry; Launched New Blackberry 10 Operating System ................. 149
Spice Jet to Launch Flights to Guangzhou in South China .................................................. 149
Aircel launched Free Roaming Service for Voice, SMS and Data........................................ 150
Philips Electronics Sold Audio and Video Business to Funai Electric .................................. 150
Deutsche Bank Appointed As the Depository Bank for GDR of IIPL ................................... 150
Toyota Regained the Title of Top Selling Automaker of the World.................................... 150
ING Left Insurance Business in India; Sold 26 Percent Stake to Exide ................................ 150
Spice Global Entered Healthcare Sector in India; Announced Investing Over 1400 Crore
Rupees................................................................................................................................. 150
Reliance Industries Shut 8th Well in KG-D6; Gas Output Fell to All-Time Low .................. 151
Volkswagen launched its new ad Campaign, Fast Start ..................................................... 151
Google-GETIT Entered into Partnership to Roll Out Digital Marketing for SMEs ............... 151
Hindalco finalized Arrangements to acquire Bauxite Mines and Alumina Refirnery from
Novelis................................................................................................................................. 151
IBM signed Memorandum of Understanding (MoU) with UPES Dehradun ....................... 151
Union Government approved the Partial De-notification of RIL SEZ ................................. 152
Snapdeal.com tied up with Mahindra for selling of Two-Wheelers ................................... 152
Jet Airways Partnered with CentrumDirect for Forex Services .......................................... 152
Air India directed by DGCA to Ground All Six Boeing 787 Dreamliners on Safety Concerns
............................................................................................................................................. 152
Mahindra Satyam Tied up with Japanese Firm TechMatrix for Healthcare Services ......... 152
TCS Net Profit Climbs to Unexpected 26.7 Percent in Q3 .................................................. 153
Microsoft to shut down Windows Live Messenger Service from 15 March 2013 ............. 153
GAIL India Commissioned Dabhol Liquefied Natural Gas Terminal ................................... 153
PR Fonroche inaugurated First Solar Plant under National Solar Mission Batch II ............ 153
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Supreme Court rejected Sahara Petition on Refund of 24000 crore Rupees ..................... 153
Allahabad Bank Signed MoU with Chamber of Indian Micro, Small and Medium Enterprises
............................................................................................................................................. 154
Sodexo Announced Acquiring Chennai-Based MacLellan India ......................................... 154
Income Tax Surveyed Nokias Chennai Plant to Check Tax Evasion ................................... 154
I-T and Vodafone Dispute ................................................................................................... 154
Versace 19.69 Tied Up With Majgenta Fashions for India Ventures .................................. 154
Union Government Decided to disinvest Stakes in Oil India, NTPC ................................... 154
National Aluminium Co Ltd (Nalco) Commissioned its First Wind Power Project ............. 155
Nasscom signed Pact with NIIT to Train One Lakh Students in next Three years .............. 155
Nestle won its Trademark Battle over KitKat Bar from Cadbury ........................................ 155
Godrej UK-Based Subsidiary Acquired Colgate-Palmolive Brand, Soft and Gentle in UK .. 155
Suven Life Sciences won Patents on three Products for CNS Molecules ........................... 155
Instagram Faced First Class Action Lawsuit over Its Terms of Service ............................... 156
JLR Chinese Subsidiary Decided to Recall Cars for Fixing Steering Boxes and Brakes ........ 156
Japanese Multinational Bought Marginal Stake in Guardian Lifecare ............................... 156
Blackberry Smartphone maker Research-In-Motion (RIM) signed in Ranbir Kapoor as its
Brand Ambassador .............................................................................................................. 156
NYSE Agreed Selling Itself as a Part of 8.2 Billion Dollar Takeover by
IntercontinentalExchange Inc. ............................................................................................ 156
China named Infosys in Key Service outsourcing Company list ......................................... 157
DLF Sold Luxury Hotel Chain Aman Resorts for 300 Million Dollar .................................... 157
Board Members of Tata Sons conferred the Title of Chairman Emeritus on Ratan Tata... 157
Cyrus Pallonji Mistry Appointed as Chairman of Tata Sons ................................................ 157
Samsung Defeated Nokia to become the worlds leading top mobile brand for the year
2012 .................................................................................................................................... 158
Tata Steel Developed a New Kind of Anti-Ballistic Steel Super Bainite .............................. 158
KG-D6, Gas Producing Fields Reached Lowest Gas Output Level Since Inception ............. 158
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HCL Infosystems announced Distribution of Latest Models of Toshiba e-STUDIO ............ 158
Fortis Healthcare Announced to Divest Stake to Bupa ...................................................... 158
REpower Systems SE won a Contract of supplying Wind Turbines in Canada ................... 159
PetroChina agreed to buy Stake in Encana Natural Gas Project ........................................ 159
Levi Strauss & Co Appointed Harmit Singh as the New Chief Financial Officer ................. 159
Marks & Spencer Added Anti-Bribery Clause in All Indian Contracts................................. 159
ICICI Bank Opened 101 Gramin Branches across Villages in Six States .............................. 159
Reliance Group signed an agreement with Chinas Dalian Wanda Group ......................... 159
Telecom Commission approved 1500 crore Rupees subsidy for BSNL .............................. 160
Sutherland Global Services Signed Agreements for Acquisition of Apollo Health Street .. 160
Lodha Developer Acquired the Mumbais Washington House for 342 Crore Rupees ....... 160
US based Food Producer Cargill India acquired Wipro's Sunflower Vanaspati brand ....... 160
Bharti Infratel Raised 652 Crore Rupees from 18 Anchor Investors before Public Offer ... 160
Yahoo and NBC Sports came Together to Provide Sports Content .................................... 161
Car Sales Dipped by 8.25 Percent in November 2012 ........................................................ 161
Google and Apple Partnered for Kodak Patents ................................................................. 161
Lobby Bill of Wal-Mart Hit Around 125 Crore Rupees to Seek Entry into India ................. 161
Tata Motors Slashed Car Price upto 1.5 Lakh rupees by Offering Discounts and Cash
Benefits ............................................................................................................................... 162
Wipro Bought Singapore Based FMCG Company LD Waxson ............................................ 162
Suresh Vaswani, the Former Co-CEO of Wipro Appointed As the Dell Services President 162
Adani Group completed Australias Largest Coal Mining Project in a Record Time .......... 163
Citigroup Planned Cutting Down 11000 Jobs to Save Over 1 Billion Dollar Annual Expenses
............................................................................................................................................. 163
SBI Announced Expectation of 4000 crore Rupees Equity From the Government ............ 163
Google India Partnered With E-Commerce Sites to Bring Cyber Monday to India ............ 164
Nokia Agreed Selling Headquarter Building for 222 Million US Dollar ............................... 164
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News Corp Decided to Split Into Two, Indian to be the CFO of the Proposed Publishing
Company ............................................................................................................................. 164
Corporate Frauds Rising in India: KPMG Survey ................................................................. 164
Kingfisher Airlines Sent Eviction Notice by Mumbai International Airport Pvt Ltd ............ 165
Infosys Decided Shifting Its American Shares From Nasdaq to NYSE ................................. 165
PVR announced acquiring 69 percent stake in Cinemax to expand its presence .............. 165
AstraZenecas petition plea on cancer drug dismissed by IPAB ......................................... 166
IOC to Upgrade its Refineries and Increase Production Capacity to 100 million tonnes ... 166
Rating Agency Fitch downgraded the Debt Rating of Sony Corp. and Panasonic Corp. .... 166
PepsiCo Coughed Up Double Amount than DLF to Be Next 5 Years IPL Sponsor .............. 167
Nokia India Introduced Rebranded Map Service named HERE .......................................... 167
Dr. Reddys Laboratories launched Sildenafil Tablets in the U.S. Market .......................... 167
Airtel Completed Largest Network Transformation in Africa ............................................. 167
Maldivian Airlines Signed Pact with Apollo Hospital .......................................................... 168
Disa Holdings a part of Disa A/S Group to sell its Shares in Indian Arm ............................. 168
Goldman Named 16 Indians as MDs and 3 as Partners ...................................................... 168
Micro Blogging Site Twitter Launched New Email sharing Feature for Tweets ................. 168
Volvo Group to Invest Two Thousand Crore Rupees in India ............................................. 169
Lacoste Acquired by Swiss Company Maus Freres ............................................................. 169
Himalaya Drug Company won its Trademark Battle against Homeopathic Pharma SBL
Limited ................................................................................................................................ 169
Karishma Kapoor Appointed Brand Ambassador of McCain Food ..................................... 170
Barista Lavazza and Penguin Books Tied up for Book Releases.......................................... 170
Vodafone India tied up with ICICI Bank for Mobile Money Services .................................. 170
BAE Systems inked an Agreement with Smile Foundation for Health Care and Primary
Education ............................................................................................................................ 170
Online Travel Agency MakeMyTrip Acquired Hotel Travel Group ..................................... 171
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Gov. of Odisha Slapped 6000 crore Rupees fine on Tata Steel for Illegal Mining .............. 171
ONGC sold 26 percent Stakes to Japans Inpex Corp .......................................................... 171
Master card and Thomas Cook Came up Together for Travel Prepaid Cards .................... 171
Discovery Communication launched kids Channel in State of Andhra Pradesh ................ 172
World Space Radio Re launched and Brought BacK on Airtel Digital TV ............................ 172
Indira Gandhi International Airport got International Certification ................................... 172
Microsoft Unveiled Windows 8 in India.............................................................................. 172
Rescue Package of 7 Billion to the Struggling Car Firm Peugeot Citrogen ....................... 172
Dow Chemical Co. Announced Closure of 20 Plants........................................................... 173
IBS Software Services Acquired US Hotel Booking Solution ............................................... 173
SEBI Asked Government to set up Special Court for Speedy Trial...................................... 173
BHEL Deployed Solar Panel on GSAT 10 Satellite ............................................................... 173
Nokia India signed deal with FC Barcelona ......................................................................... 174
Bharti Airtel Became Worlds Fourth Largest Mobile Operator ......................................... 174
DGCA suspended the license of Kingfisher Airlines ............................................................ 174
Tata Starbuck Opened its First Store in India ..................................................................... 174
Tea Board of India Joined hand with European Tea Committee to Protect Darjeeling Tea
............................................................................................................................................. 175
IOC signed MoU with Korea Gas Corporation to Jointly explore and produce Gas ........... 175
Antiplatelet Drug Brilinta launched by Astrazeneca Pharma ............................................. 175
Polaris Signed a Pact for Strengthening Market Solutions with Pyxis ................................ 175
Petroleum Ministrys Non Approval to RILs Investment Plans .......................................... 175
Vikram Pandit, the CEO of Citigroup resigned .................................................................... 176
Mahindra Satyam Tied up with University of Petroleum and Energy Studies ................... 176
ZEE Launched Edutaintment Channel Zee Q for Children .................................................. 176
ICICI Bank Signed an Agreement with Eco Bank of Africa .................................................. 176
L&T Finance Acquired Indo-Pacific Housing ....................................................................... 177
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Welspun finds the lenders for its 50 MW solar Project in Rajasthan ................................. 183
Infosys acquired Switzerland based firm Lodestone .......................................................... 183
TCS signed in an agreement of 103 crore to provide ICT Solution for MGNREGS in West
Bengal.................................................................................................................................. 184
Partnership in between Alstom Grid and Toshiba Corp ..................................................... 184
ICICI Bank to extend its net banking services through social media platform Facebook . 184
Bharat Electronics Limited (BEL) and Thales entered into a joint venture ......................... 184
Cargotec tied up with Tata Communication to improve productivity and operational
efficiency ............................................................................................................................. 185
Jindal Steel & Power acquired Canadian firm CIC for Rs 650 cr ......................................... 185
Tech Mahindra Acquired Hutchinson Global Services ........................................................ 185
Industry Leader Deepak Parekh Nominated to Competition Commission of India ........... 185
The Bhilai Steel Plant won the Prime Ministers Trophy for the 10th Time ....................... 186
IDBI Bank Ltd entered into a MoU with SMERA to evaluate its MSME .............................. 186
Antony Jenkins appointed as the New Group Chief Executive of Barclays ........................ 186
McNally Bharat won 122 crore Rupees Contract from SAIL ............................................... 186
HSBC sold its Entire Stake in Federal Bank for 341 Crore Rupees ...................................... 186
Jammu and Kashmir Bank was Awarded Best Banker Prize ............................................... 187
GAIL signed pact with French Energy Giant GDF Suez to import LNG................................ 187
Apple won Patent Infringement Case against Samsung ..................................................... 187
SpiceJet announced launch of Two Daily Flights to Jabalpur from Delhi and Mumbai ..... 187
Bharti Group sold its Stake in Centum Learning to Everonn Education ............................. 188
Relaxo Footwear signed Bollywood Actor Katrina Kaif as its Brand Ambassador .............. 188
Arvind Saxena appointed the Managing Director of Volkswagen India ............................. 188
Philippe Divry appointed as the Managing Director of Volvo India ................................... 188
M&M signed MoU with Oriental Bank for Personal and Commercial Vehicle Financing .. 188
Hoppr launched its Service in Chennai to allow Users explore Rewards and Offers ......... 188
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Keshub Mahindra stepped down as the Chairman of Mahindra & Mahindra ................... 189
Jet Airways Tied Up With HDFC Bank and Launched Credit Cards ..................................... 189
Siemens India Bagged 290 Million Euro NMDC Deal .......................................................... 189
KNR Constructions bagged the Tollway Road Project ........................................................ 189
German logistics Deutsche Bahn tied up with Moser Baer for Clean Energy Project ........ 189
Geojit BNP launched Android OS Flip Me; first mobile trading solution on NSE & BSE ..... 190
Micro Technologies India introduced Micro Call Blocker for unsolicited Calls & SMS....... 190
National Housing Bank cut Interest Rate by up to 1 percent for Urban Low Income Group
............................................................................................................................................. 190
High Court of AP approved Conditional bail to Koneru Prasad: EMMAR Properties Case 190
Gilead Sciences signed with 3 Indian companies for low-cost HIV drugs .......................... 191
Hero MotoCorp invested 20 million dollar in US based Erik Buell for R&D ....................... 191
Karnataka Bank signed MoU with NABCONS for Bank customers consultancy services .. 191
Star Health launched Star Comprehensive and Star Family Delite Insurance Policy ......... 192
The Sahara Group acquired landmark Plaza Hotel of New York ........................................ 192
NDTV filed Lawsuit against Audience Measurement Company TAM India ........................ 192
Current Affairs (1st Aug 12 15th March 13)............................................................................... 194
National Current Affairs (1st Aug 12 15th March 13) ............................................................ 194
Union Cabinet cleared Bill to Tackle Crimes against Women............................................. 194
Indias First All Women Post Office Inaugurated by Kapil Sibal ......................................... 194
Cabinet Committee on Security approved Flexible Use of Airspace .................................. 194
Patiala House Court framed Charges against Irom Sharmila for Attempting Suicide ........ 194
Electronics Project Proposal System e-PPS launched by Kapil Sibal................................... 195
Ministry of New and Renewable Energy Sanctioned Remote Village Electrification for 6033
Villages ................................................................................................................................ 195
President of India Pranab Mukherjee Gave Assent to the Criminal Law (Amendment)
Ordinance, 2013.................................................................................................................. 196
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Panel to Examine issues of Certification under Cinematograph Act 1952 Constituted ..... 196
SC directed Government to notify Cauvery Water Disputes Tribunal Award .................... 196
I&B Ministry Constituted Expert Committee to Review Functioning of Prasar Bharti ....... 196
Rashtriya Bal Swasthya Karyakram launched in Thane, Maharashtra ............................... 196
Union Cabinet of India gave its nod to decrease head counts in areas covered under
PMGSY ................................................................................................................................. 197
I&B Ministry launched My India Initiative-A Digital Volunteer Programme to reach Citizens
............................................................................................................................................. 197
The Union Government directed all States to Review Cases of Under-Trial...................... 198
Priority Sector Lending (PSL) to Minorities Crossed 15 Percent Mark in 2012-2013 ......... 198
SC ordered Seizure of operations of Unsuccessful Bidders of Auction of 2G Spectrum .... 198
NACO signed MoU with Ministry of Health and Family Welfare to Highlight Issues related
to AIDS................................................................................................................................. 198
CBI Registered Case against Airtel and Tata Communications for Violating DoT Norms ... 199
The Centre resolved the Issue of CST Compensation with the States ............................... 199
Special Consultative Status with UN Accorded to Six Indian NGOs.................................... 199
India celebrated its 64th Republic Day; Showcased Military Prowess and Cultural Heritage
............................................................................................................................................. 199
Broadcasting Content Complaints Council Sought Reviewing Rules for TV Licensing ....... 200
Justice JS Verma Panel Report Submitted to the Government: Recommendations on the
Sexual Crimes ...................................................................................................................... 200
India and Sri Lanka signed two agreements on Terrorism and Drug Trafficking ............... 200
Supreme Court Banned Tourists Entry in Jarawa Tribe Habitat of Andamans .................. 200
Government of India declared use of MGNREGA linked Post Office Accounts for Direct
Cash Transfer ...................................................................................................................... 201
Supreme Court of India Banned Construction of Religious Structures and Statues on Public
Land ..................................................................................................................................... 201
Pranab Mukherjee imposed Presidents rule on Jharkhand .............................................. 201
Union Home Ministry Issued Strict Guidelines for Regulating Surrogacy in India ............. 201
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Land Acquisition and Rehabilitation and Resettlement Bill, 2011 Cleared By the Union
Cabinet ................................................................................................................................ 209
Bhatinda Srinagar Gas Pipeline Project to be completed by July 2014 .............................. 209
India to sign Mutual Legal Assistance Treaty in criminal matters with four other nations 210
Karnataka to Provide Tamil Nadu with 12 TMC feet of Cauvery water: CMC .................... 210
Union Government of India cleared Decks for Ambedkar Memorial ................................. 210
Global Terrorism Index Revealed: India Ranked Among Top Five Terror-Hit Nations ....... 210
S.A. Ibrahim's Appointment as Director for Intelligence Bureau Approved ...................... 211
EPFO (Employees Provident Fund Organisation) launched its e-Passbook Portal ............. 211
Costal Chain of Static Sensors Positioned along the Coast of Andhra Pradesh ................. 211
Union Minister of Finance P Chidambaram Finalised GAAR Amendment ......................... 211
The Coal Ministry issued Order for Deduction of Bank Guarantees and de-allocation of Coal
Blocks .................................................................................................................................. 212
President Pranab Mukherjee Launched Low Cost Aakash Tablet 2 ................................... 212
Union Cabinet Cleared Setting up of 21 Textile Parks ........................................................ 212
TRAI issued a CAP of 100 SMSs on Concession Rates ......................................................... 212
Union Government Body CCEA lifted Export Ban on Some Milk Products ........................ 213
Broadband Network Pact Signed with 16 States and UT Government .............................. 213
Cabinet Reshuffle in India ................................................................................................... 213
IGMRI and CWC Signed MoU for Post Harvest Management of Foodgrains ..................... 216
Prime Minister Launched Aadhar Based Transfer System ................................................. 216
Election Commission Banned Broadcast of Opinion Polls during Assembly Election in
Gujarat and HP .................................................................................................................... 216
Union Cabinet Approved setting up of National Automotive Board .................................. 217
SC: All States and UTs to conduct Fresh Surveys to identify Bonded Labour Problems .... 217
Union Cabinet Approved Amendment of Indecent Representation of Women Act ......... 217
Election Commission issued Stricter Guidelines to Curb the Practice of Paid News ......... 218
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Rail Radar, Website launched by the Railways to track the position of train .................... 218
MoS was signed to provide Autonomy for the Hills Council in Assam ............................... 218
Supreme Court directed Centre to present fresh guidelines on Tiger Reserves within a
week .................................................................................................................................... 219
Postal Department of India Increased Speed post rate by 56 Percent .............................. 219
SC: Refused to restrain Center from providing training to Sri Lankan armed Forces ........ 219
Union HRD Minister Kapil Sibal Launched Hockey and Cricket League .............................. 219
India and World Bank Signed 500 Million Dollar Deal for Shiksha Abhyan ........................ 220
Passive Euthanasia Supported by the Law Panel................................................................ 220
Supreme Court directed Government to provide Basic Infrastructure in School .............. 220
Ministry of Rural Development Launched Nirmal Bharat Yatra ......................................... 221
India and China agreed to boost the Defence Ties ............................................................. 221
India and Austria signed an MoU to strengthen bilateral cooperation on Rail and Road . 222
Altamas Kabir sworn-in as 39th Chief Justice of India ........................................................ 222
Jaideep Sarkar appointed as the new envoy to Israel ........................................................ 222
Former Navy Chief Nirmal Verma appointed as Indian envoy to Canada .......................... 222
Election Commission prohibited use of animals in Election Campaigns ............................ 223
SC: There are alternative ways for allocation of Natural Resources .................................. 223
Service Tax on high-end class travel, freight and auxiliary service rail fares...................... 223
Union Cabinet of India approved the Demands of Ex-servicemen for One Rank One Pension
............................................................................................................................................. 223
SC: Land belonging to Scheduled Castes or Tribes cannot be bought by Non Dalits ...... 224
New measures announced for the welfare of overseas Indians ........................................ 224
Government reduced Interest Rates on rescheduled Crop Loans from 12 to 7 Percent ... 225
Rashtriya Aarogya Nidhi Scheme was launched in Arunachal Pradesh.............................. 225
Environment clearance of 99 Mines in Goa suspended ..................................................... 225
Government reduced Interest Rates on rescheduled Crop Loans from 12 to 7 Percent ... 225
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Supreme Court: media can be restrained from pressing trials during proceedings .......... 226
Jal Satyagraha came to an end after 17 days demonstration on a victory note ................ 226
Supreme Courts Notice to Tamil Nadu on the petition that challenged 69% quota in the
state .................................................................................................................................... 227
Supreme Court granted two weeks time to the centre to take a call on Abu Salem ......... 227
Union cabinet approved interest subsidy for farmer loans ................................................ 227
The Government approved a Complete Ban on Employment of Children ........................ 228
Supreme Court refused to lift Ban on Mining Activities in Karnataka ................................ 228
The Union Government issued an Ultimatum to Social Networking Site Twitter .............. 228
The Government extended the Ban on Import of Milk and Milk Products from China ..... 228
Government of India enacted Prohibition of Child Marriage Act 2006 ............................. 229
Supreme Court of India ordered Better Healthcare for Bhopal Gas Tragedy Victims ....... 229
BCCC asked TV Channels to be Extra-cautious while Showing Violence against Women.. 229
Delhi High Court approved the Guidelines for Media Reporting on Children .................... 229
Bimal Gurung sworn in as the Head of Gorkhaland Territorial Administration ................. 230
Union Cabinet approved the Launch of Satellite to study Mars ........................................ 230
Union Government approved 492 Crore Rupees to set up Central Academy for Police
Training in Bhopal ............................................................................................................... 230
Special Tribunal approved MHA Move to declare SIMI as an Unlawful Organisation ....... 231
Union Government approved Relaxation in Policies Related to Transfer of Government
Land ..................................................................................................................................... 231
One Thousand Nine Hundred Crore Rupees Allocated to Rain Deficient States................ 231
Power Tripped in Northern, Eastern and North Eastern Grids: Indias Biggest Power
Blackout .............................................................................................................................. 232
International Current Affairs (1st Aug 12 15th March 13)..................................................... 234
Eurozone and IMF Agreed For 10 Billion Euros Cyprus Bailout Deal .................................. 234
India and Britain signed Pact to Support Research and Development Projects ................ 234
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Khil Raj Regmi to Head the Interim Government of Nepal; Sworn-In As the Prime Minister
............................................................................................................................................. 234
Iran and Pakistan launched Gas Pipeline Project ............................................................... 234
45th Independence Day of Mauritius Celebrated; Pranab Mukherjee Was the Chief Guest
............................................................................................................................................. 235
India and Bhutan signed Currency Swap Agreement worth 100 million Dollars ............... 235
China Unveiled Government Restructuring Plan; Ministry Of Railways to Be Dissolved ... 235
US and South Korea Started Joint Annual Military Drills .................................................... 235
Pakistan Parliament passed Counter Terrorism Authority Bill ........................................... 236
Kenya Election: Uhuru Kenyatta won Kenya Presidency .................................................... 236
India Proposed Hydrocarbon Pipeline from Kazakhstan .................................................... 236
Pranab Mukherjee and Sheikh Hasina Inaugurated Freight Train to Bangladesh .............. 236
India and Republic of Portugal Signed a Social Security Agreement .................................. 236
India-United Kingdom Summit 2013: Issues Discussed and Agreed Upon ........................ 237
India and UK Signed MOU on Strengthening Co-Operation in Earth Sciences................... 237
India and USA inaugurated the First Triangular India-US-Africa Partnership at Hyderabad
............................................................................................................................................. 237
Nicos Anastasiades Won Cyprus Presidential Elections With 57.5 Percent Votes ............. 237
African Leaders signed UN-Brokered Accord in DR Congo ................................................. 238
Trade Deficit of Japan Hit Record in January 2013 as Yen Weakened ............................... 238
Worlds First Mercury Treaty adopted by 140 Countries at Geneva.................................. 238
India and Sri Lanka Signed Agreements On Combating Terrorism and Avoiding DoubleTaxation............................................................................................................................... 238
India and the UAE agreed to take their Trade Relations to another Level......................... 238
Court of Arbitration, The Hague gave a go ahead to India on Kishanganga Project .......... 239
India-US Joint Working Group held its 10th Meeting in Washington ................................ 239
First India-Japan Maritime Affairs Dialogue was held in New Delhi................................... 239
India and France agreed to strengthen Cooperation on Counter Terrorism ..................... 239
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North Korea conducted its third Nuclear Test and defied UN Regulations for World Peace
............................................................................................................................................. 240
India and Japan held talks to Strengthen Cooperation in Tourism Sector ......................... 240
Iran called on for destruction and end of the Nuclear Weapons of the World ................. 240
Seventeen Indian Prisoners on Death Row in Sharjah Jail Released .................................. 241
Pakistan approved the Deal which Handed over Gwadar Port to China ............................ 241
Ahmadinejad is the first Iranian President to visit Egypt since 1979 Islamic Revolution ... 241
India and Austria signed a Social Security Pact................................................................... 241
United States of America filed a Civil Lawsuit against Standard and Poor's ...................... 242
Mo Yan and Jackie Chan Selected As Members of Chinese Parliament ............................. 242
India dropped to 140th Rank in the Latest World Press Freedom Index ........................... 242
India Pledged Humanitarian Assistance of 2.5 Million US Dollars to Syria ........................ 243
India and Australia agreed to Concentrate on Energy and Food Security ......................... 243
India and Bangladesh signed Agreements on Extradition and Visa Regime ...................... 243
Milos Zeman won the Czech Republic Presidential Election 2013 ..................................... 243
War Crimes Tribunal of Bangladesh pronounced its First Verdict of Death Sentence....... 244
Barack Obama Sworn In As the US President for Second Term ......................................... 244
Chinas Economy Grew 7.8 Percent in 2012, Hits 13-Year Low .......................................... 244
Indians asked to avoid Violence Prone Areas in Nigeria .................................................... 244
MV Amina, Iranian Cargo Ship fled from Sri Lankan Waters and defied orders of its High
Court ................................................................................................................................... 245
Pakistan Anti-Corruption Body Refused Arresting PM ....................................................... 245
India and Pakistan agreed not to allow Tension along LoC to Escalate ............................. 245
China appointed Wei Wei, a Career Diplomat as Ambasador to India .............................. 245
India and Bangladesh Decided Increasing Rail Link Projects .............................................. 245
India, Vietnam signed MoU to Strengthen Micro, Small & Medium Enterprises .............. 245
China launched its Postage Stamp on Year of Snake .......................................................... 246
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The Oldest Bank of Switzerland to Pay 58 Million Dollar to US in Tax Evasion Case ......... 246
South Korea Became First Country in Asia to Order Chemical Castration of Child Rapist . 246
Beijing was 14th Safest City In China, Lhasa was the 1st : China Academy Of Social Sciences
............................................................................................................................................. 246
The United States evacuated its Embassy in the Central African Republic ........................ 246
President Mohamed Morsi signed Egypt's Controversial Constitution.............................. 247
Pakistan Government Recognised Republic of Kosovo as an Independent State .............. 247
India and Russia signed pacts on Economic Ties for 2 billion dollar Investment Fund ...... 247
Moscow Authorities Announced Demolishing Only Hindu Temple by January 2013 ........ 247
European Union imposed Stiff Sanctions on Trade with Iran............................................. 248
David Cameroon announced that Britain would Pull Half of its Troops from Afghanistan 248
Park Geun-Hye Elected As the First Woman President of South Korea ............................. 248
Ireland to legalise Abortions when the Mothers Life is at Risk ......................................... 248
Queen Elizabeth Became First Peacetime British Ruler to Attend Cabinet Meeting ......... 248
WHO approved Vaccine Manufacturing Practices adopted by Indian Pharmaceutical
Companies .......................................................................................................................... 249
UK Planned to Replace Paper Money with Plastic Banknotes............................................ 249
Constitution Amendment Bill passed by Huge Majority in Rajya Sabha ............................ 249
India and Pakistan Jointly operaionalized New Visa Agreement in .................................... 249
North Korea Launched Long Range Unha-3 Rocket amid International Opposition.......... 249
Global Telecom Treaty without Net Control Signed by Eighty Nine Nations ..................... 250
Vinod Rai Re-Elected As Chairman of UN Panel of External Auditors ................................ 250
Maldives took over Charge of Male Airport scrapping Agreement with GMR .................. 250
China Held largest Air Force Drill involving 100 Fighter planes .......................................... 250
Iran Declared Extracting Complete Data from the Captured US Drone ............................. 250
Eleventh Meeting of India-Canada JWG on Counter Terrorism held in New Delhi ........... 251
Immigration to Britain Witnessed Biggest Fall in 20 Years ................................................. 251
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India and Tajikistan went ahead on strategic partnership and signed six agreements ..... 265
Sixth MekongGanga Cooperation meeting held in New Delhi ......................................... 266
India established Diplomatic Relations with Niue .............................................................. 266
The 16th NAM (Non-Aligned Movement) Summit was held in Tehran ............................. 266
USA slapped Sanctions on Laskar-e-Toibas Top Eight Commanders ................................. 267
India and Iran decided to expand Trade and Economic Cooperation ................................ 267
International Atomic Energy Agency set up Special Task Force for Iran ............................ 267
India, Afghanistan and Iran to set up Joint Working Group to spur Trade ........................ 267
India China agreed to set up Joint Working Group on Trade and Investments ................. 268
Russia formally became a Member of the World Trade Organisation ............................... 268
Myanmar abolished Censorship of the Country's Media ................................................... 268
India to cut Import Duties on 234 Items from Pakistan ..................................................... 268
Ecuador Granted Wikileaks Founder Julian Assange Political Asylum ............................... 268
China signed Economic Agreements with North Korea which includes the Development of
SEZs ..................................................................................................................................... 269
Libya's NTC Handed Power to Newly Appointed National Assembly ................................. 269
Sudan signed a Deal with South Sudan over Oil Payments ................................................ 269
India and Belgium signed Agreement for the Modernisation of Indian Railways .............. 269
India and Israel signed Collaborative Academic Research Programme Agreement .......... 270
US Senate passed Bill to label Haqqani Network as a Foreign Terrorist Organisation ...... 270
India signed Tax Information Exchange Agreement (TIEA) with Monaco .......................... 270
US Imposed Sanctions on Banks Handling Iranian Oil Transactions ................................... 271
India allowed FDI (Foreign Direct Investment) from Pakistan............................................ 271
Election Commissions of India and South Korea signed MoU to Strengthen Democracy . 271
US and Pakistan inked NATO Supply Agreement ............................................................... 271
News at Glance ....................................................................................................................... 273
Inaugural Lahore Literary Festival (LLF) 2013 Concluded On a High Note ......................... 273
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Silver Linings Playbook won Four Awards at the Independent Spirit Awards .................... 273
NASA Scientists spotted the Youngest Black Hole W49B in the Milky Way ....................... 273
Silk Route Car Rally from Kolkata to Kunming organised by CII Flagged Off ...................... 273
Ratan Tata Awarded the Life Time Achievement Award 2012 by Ernst & Young .............. 274
Two Blasts in Hyderabad claimed 14 Lives and left 119 Injured ........................................ 274
T. S. Vijayan, the Former LIC Chief Took Over as the Chairman of IRDA ............................ 274
Malaysia lifted the Ban imposed on Public Screening of Vishwaroopam .......................... 275
NASA Re-Established Contact with ISS after 3 Hours of Blocked Communication ............ 275
Black Money Generated In India Would Exceed 10 Percent of GDP: NIPFP ...................... 275
Tzipi Livni entered into a Coalition Deal with Benjamin Netanyahu, Prime Minister of Israel
............................................................................................................................................. 275
Retd. Justice Bhatt to Conduct Judicial Probe in Allahabad Railway Station Stampede .... 276
Mritunjay Singh appointed as the Joint COO of Persistent Systems .................................. 276
Kai Po Che, Chetan Bhagats Novel-Based Movie Premiered ............................................. 276
Ela Bhatt Conferred 2011 Indira Gandhi Prize for Peace, Disarmament and Development
Award .................................................................................................................................. 276
Ecuadors President Rafael Correa Re-elected for a Third Term ........................................ 277
Indias External Affairs Minister visited Bangladesh to Co-Chair the 2nd Meeting of JCC . 277
Ronald Dworkin, the Constitutional Law Expert and Philosopher of America died at 81 .. 277
Romanian Film Childs Pose bagged the Golden Bear Prize ............................................... 277
Bangladesh Banned the Japanese Cartoon Doraemon to Curb Hindi Invasion ................. 278
Asoke Kumar Mukerji Appointed As the Next Permanent Representative of India to the UN
............................................................................................................................................. 278
Sanskrit as a language of science ........................................................................................ 278
Meteorite exploded over the Skies of Russia left more than 500 injured ......................... 278
Oscar Pistorius charged for Shooting Dead his Girlfriend .................................................. 279
One Billion Rising Campaign launched to end the Violence against Women .................... 279
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S. Ramakrishnan took over as Director of Vikram Sarabhai Space Centre ......................... 285
Urjit Patel Was Appointed As the Deputy Governor of the Reserve Bank of India ............ 285
Switzerland Best Place to be Born in the World, India Ranked 66th: Survey ..................... 285
Justice Amitava Roy Sworn in as Chief Justice of Rajasthan High Court ............................ 285
Freedom fighter Pandit Ram Sanehi Shukla died ............................................................... 286
First Earthquake-Proof Hindu Temple of the World Opened Near Hollywood .................. 286
Prof. Ravindra Dholkia to Head five-member committee of Air India ............................... 286
Violin Maestro M.S. Gopalakrishnan died at the age of 82 ................................................ 286
PM Manmohan Singh Became the 19th Most Followed Leader on Twitter ...................... 286
Irelands prestigious Tipperary International Peace Prize for 2012 awarded to Malala .... 287
Gerda Lerner, The Womens History Pioneer, Died at 92 .................................................. 287
18th National Level Meeting between Myanmar and India held in New Delhi ................. 287
Sunmeet Kaur became the first woman to win 5 Crore Rupees on Kaun Banega Crorepati
Game Show ......................................................................................................................... 287
11th Pravasi Bharatiya Divas meet kicked off in Kerala ..................................................... 287
Indian Institute of Astrophysics to Develop Worlds Largest Solar Telescope ................... 288
Justice D.K. Jain appointed as the Chairman of Law Commission ...................................... 288
N.A.K. Browne inaugurated a Medium Lift Helicopter Complex at Phalodi ....................... 288
India Successfully test-fired manoeuvrable version of BrahMos Supersonic Missile ........ 288
Fitch Ranked India's Sovereign Rating into Negative Status .............................................. 288
Air Marshal Kulwant Singh Gill took over as the Commandant of NDA ............................. 289
Rajiv Takru appointed Secretary of Financial Services in the Finance Ministry ................. 289
Life of Pi Nominated For BAFTA 2013 with Nine Nominations, Lincoln Leads Way with 10
Nods .................................................................................................................................... 289
Renault Duster Awarded Car of the Year Award 2013 ....................................................... 289
IAMAI Report: 64 percent Internet Users from Rural India prefer Vernacular Language .. 290
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Malala Yousafzai Honoured with France's Simone de Beauvoir Prize for Women's Freedom
............................................................................................................................................. 290
19th Colors Screen Awards: Ranbir Kapoor and Irfan Khan declared Best Actors ............. 290
Golden Globe Awards 2013: Argo Won Best Picture and Best Director Awards ............... 293
Health Ministers of BRICS decided to set up Technical Working Group (TWG) ................. 293
World Conference on International Telecommunications (WCIT-12) Held in Dubai ......... 293
Adolf Hitler Based Novel Titled Er Ist Wieder Da Became Germanys Bestseller ............... 294
Halimah Yacob Became First Woman Speaker of the Singapore Parliament .................... 294
President Pranab Mukherjee honoured 18 States with Krishi Karman Awards ................. 294
Chinese Author Zhao Jiang to launch her First Book in Tamil, Chinas Travel Attractions . 294
Mahaveer Golechha, London-Based Indian Researcher Selected For Award for Alzheimer's
Drug ..................................................................................................................................... 295
SSPI to honour Prof. U R Rao by inducting him as a Member to the Satellite Hall of Fame
............................................................................................................................................. 295
58th Idea Filmfare Awards: Barfi! Bags Seven Awards, Kahaani Scripts Five ..................... 295
Barack Obama took Oath as the President of the United States of America for Second Term
............................................................................................................................................. 296
President of India inaugurated the Centenary Year Celebration of the National Test House
............................................................................................................................................. 296
Election Commission of India nominated Saina Nehwal and Mary Kom as the National
Icons .................................................................................................................................... 296
West Bengal Government gave Heritage Status to Neta Jis Ancestral House .................. 297
NMEW held the Sixth National Conference on Implementation of PWDVA ..................... 297
National Girl Child Day Celebrated In India on 24 January................................................. 297
U.S. Federal Court sentenced 35 years in Prison for David Coleman Headley ................... 297
Major Abup J Manjali Selected For Second- Highest Peacetime Gallantry Award Kirti Chakra
............................................................................................................................................. 298
Indian writer shortlisted for the prestigious International Man Booker Prize for Fiction
2013 .................................................................................................................................... 298
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India Successfully Test Fired a Ballistic Missile in Bay of Bengal ........................................ 298
Sreeramamurthy Janaki Refused to Accept Padma Bhushan on R-Day ............................. 298
Shah Rukh Khan Ranked First in Inaugural Forbes India Celebrity 100 List ....................... 298
Taiwanese Business Magnate Launches Asias Nobel-Type Prizes..................................... 299
Milos Zeman became Czech Republics First Directly Elected President ........................... 299
World Anti-Leprosy Day Observed to focus Attention on Disease..................................... 299
Haryana Topped the Chart of States that exceeded Revenue Mop up Target .................. 299
Ranjit Sinha, Senior IPS Officer Took Over As CBI Director ................................................ 300
India ranked 94th in 2012 Corruption Perception Index released by Transparency Int. ... 300
Manmohan Singh and Sonia Gandhi on the List of Top 20 Most Powerful People of the
World .................................................................................................................................. 300
Parthasarathi Shome Appointed As the Adviser to Finance Minister of India ................... 300
Life of Pi was given two National Tourism Awards by the Ministry of Tourism ................. 301
New Version of Internet Addresses Made Available in India ............................................. 301
Union Finance Minister P Chidambaram Selected For K Karunakaran Foundation Award 301
Nobel Peace Prize 2012 Awarded to European Union (EU) ............................................... 301
Pandit Ravi Shankar, the Indian sitar Maestro Passed away in California ......................... 301
Police Warned People of Map Flaws of Apple Leading to Snake-Infested Desert ............. 302
Bollywood Actress Hema Malini Selected for Bharat Muni Samman ................................ 302
Pandit Ravi Shankar to be Honoured with Grammy Lifetime Achievement Award 2013.. 302
DAVP Received the Web Ratna Award-2012-Golden Icon Award ..................................... 302
Bhanu Athaiya, First Indian to Win Oscar decided to Return Her Trophy .......................... 302
Norman Woodland, the inventor of bar code died at 91 ................................................... 303
Mumbai ranked among the Dirtiest Cities of the World: Survey ....................................... 303
Naina Lal Kidwai became the First Woman President of FICCI .......................................... 303
Mahatma Gandhis Letters and Rare Copy of Indian Constitution sold Big at Sotheby's .. 303
Shahrukh Khan honoured with BrandLaureate Legendary Award in Malaysia .................. 304
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Subhash Joshi Appointed New Chief of Indian Border Security Force (BSF) ...................... 304
First of the Eight P - 8I Maritime Surveillance Aircraft received by Indian Navy................ 304
US President Barack Obama named Person of the year 2012 by TIME Magazine ............. 304
Praful Patel re-elected President of All India Football Federation ..................................... 305
Maharaj Loonkaran Singhs Era Gunpowder Found in Sonar Fort ..................................... 305
Jeet Thayil along with 23 Others Chosen as Sahitya Akademi Award Winners ................. 305
India Successfully Test Fired Air to Air Interceptor Astra Missile ....................................... 306
Gangnam Style Named among Collins Dictionarys Word of the Year 2012 ...................... 306
Sangeet Natak Akademi Fellowships and Akademi Awards for the Year 2012 Announced
............................................................................................................................................. 306
Justice Swatanter Kumar took over as NGT Chairperson ................................................... 306
Virbhadra Singh took oath as Chief Minister of Himachal Pradesh for the Sixth time ...... 306
China inaugurated Worlds Longest High-speed Rail Route linking Beijing with Guangzhou
............................................................................................................................................. 307
Cyber Security get Revamped with Government Five Year Plan ........................................ 307
Shinzo Abe Elected As Prime Minister of Japan by Lower House of the Parliament ......... 307
Narendra Modi was Sworn-in as the Chief Minister of Gujarat ......................................... 307
Oriya Novelist and Academician Pratibha Ray selected for 2011 Jnanpith Award ............ 307
MS Sahoo appointed as Secretary of Institute of Company Secretaries of India (ICSI) ..... 308
Security and Exchange Board of India(SEBI) appointed S Raman as Whole Time Member
............................................................................................................................................. 308
President of Russia Vladmir Putin Visited India to attend 13th India-Russia Annual Summit
............................................................................................................................................. 308
Daw Aung San Suu Kyi of Myanmar visited India ............................................................... 308
Passport Seva Project won CSI-Nihilent e-Governance Award for Excellence ................... 309
India-Maldives Joint Military Training Exercise EKUVERIN 2012 held in Belgaum ............. 309
Chitra Ramkrishna appointed as the new Managing Director and CEO of NSE ................. 309
Alok Joshi to be RAW Head, Asif Ibrahim to Head IB ......................................................... 309
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Tipu Sultans Era Cannon Discovered at Bangalore Metro Site .......................................... 310
Bangladeshs Worst-Ever Fire Accident Claimed Several Lives .......................................... 310
Ernest Bai Koroma re-elected as the President of Sierra Leone......................................... 310
Joaquim Barbosa sworn-in as Brazils Supreme Courts First non-White President .......... 310
Lula da Silva awarded Indira Gandhi Prize for Peace, Disarmament and Development .... 310
GRACE revealed that Greenland loses 200 million tonnes of ice every year ..................... 311
Gavaskar conferred with Col. CK Nayudu Lifetime Achievement Award ........................... 311
NAK Browne released a book Victory India-A Key to Quality Military Leadership............. 311
Yuvi- Book on Cricketer Yuvraj Singh authored by Makarand Waingankar Released ........ 311
President of Liberia Ellen Johnson Sirleaf chosen for Indira Gandhi Peace Prize 2012 ..... 312
Chinese Film, 11 Flowers won NETPAC Award at Kolkata Film Festival ............................. 312
Urdu Scholar Gopi Chand Narang Awarded Moortidevi Award for 2010 .......................... 312
Xi Jinping elected as the New General Secretary of the Communist Party of China ......... 312
President of Afghanistan Hamid Karzai Visited India and discussed on various Issues ..... 312
Ramanujans genius Proved by US Mathematician ............................................................ 313
United Nation Declared November 10 as Malala day ........................................................ 313
The Folded Earth declared among Winners of 11th Economist Crossword Book Award .. 313
Hyderabad Last Nizam Named All time Richest Indian ...................................................... 313
British Writer Hilary Mantel won Booker Prize for Second Time ....................................... 314
World Food Day Celebrated worldwide on 16 October 2012 ............................................ 314
Lloyd Shapley and Alvin Roth of America won Nobel Prize in Economics .......................... 314
Libyas National Congress elected Ali Zidan as the New Prime Minister ........................... 314
Global Hunger Report 2012: India ranked at 65th position ............................................... 314
Mo Yan a Chinese writer won the 2012 Nobel Prize for literature .................................... 315
Robert Lefkowitz and Brian Kobilka Won Nobel Prize 2012 for Chemistry ........................ 315
S.Vishwanathan Elected as New Managing Director of State bank of India ...................... 315
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Serge Haroche and David Wineland won Nobel Prize 2012 for Physics ............................ 315
John Gurdon and Shinya Yamanaka won Nobel Prize-2012 for Medicine ......................... 316
Indian Navy Successfully Test Fired BrahMos Missile ........................................................ 316
Niryat Shree and Niryat Bandhu Awards Presented By President of India ........................ 316
ISRO Scientist Tessy Thomas Conferred with Lal Bahadur Shastri Award .......................... 316
India Successfully Test Fired Nuclear Capable Dhanush Missile ........................................ 317
Ajit Saran Appointed as Secretary in National Commission for Women ........................... 317
Nuclear Capable Prithvi II Missile Sucessfully Test Fired .................................................... 317
India successfully launched its Heaviest Satellite GSAT-10 ................................................ 317
CSIR announced Fellowship program for Scientists aged above 70 ................................... 317
R Lakshmipathy elected as chairman of the Press Trust of India ....................................... 318
Aishwarya Rai appointed as International Goodwill Ambassador ..................................... 318
International day of Peace observed worldwide ................................................................ 318
Aung San Suu Kyi received US Congress Highest Honour................................................... 318
India successfully test-fired its Indigenously built Agni-IV Missile ..................................... 318
Salman Rushdie released his Book Joseph Anton .............................................................. 319
Russia declassified the existence richest diamond field of the world ................................ 319
Delhi High Court gave a nod to installation of GPS system in Auto Rickshaws .................. 319
Rajiv Mehta appointed as Director General of Narcotics Control Bureau ......................... 320
Defence Minister, A.K. Antony opened an Army Hospital in Male .................................... 320
The President of Tajikistan Emomali Rahmon visited India ............................................... 320
Hassan Sheikh Mohamud the newly elected president of Somalia survived assassination
............................................................................................................................................. 320
Tensions grew over Senkaku Islands in between Japan and China .................................... 320
Vice president of India M. Hamid Ansari released a book ................................................. 321
ISRO made a century with the launch of PSLV-C21 ............................................................ 321
Verghese Kurien the White Revolutionary and the Milkman of India Died ....................... 321
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India ranked to be 59th in the report released by World Economic Forum ...................... 322
Kaushik Basu appointed as World Bank Chief Economist .................................................. 322
Admiral Devendra Kumar Joshi took over as the new Indian Navy Chief .......................... 322
Poonam Kishore Saxena appointed as Chairman of Central Board of Direct Taxes .......... 322
PJ Kurien elected the Deputy Chairman of Rajya Sabha .................................................... 322
Pakistan Government honoured Gopi Chand Narang with Sitara-i-Imtiaz ........................ 323
Pak Government Honoured Saadat Hasan Manto with the Nisan-i-Imtiaz........................ 323
IMPORTANT AUTHORS AND THEIR BOOKS................................................................................. 325
COMPUTER KNOWLEDGE ........................................................................................................... 341
Introduction of Computer ....................................................................................................... 341
Characteristics of Computer ............................................................................................... 341
Uses of a Computer............................................................................................................. 341
History of Computers .......................................................................................................... 342
Types of Computers ............................................................................................................ 342
Classes of Computers .......................................................................................................... 343
Components of Computer ...................................................................................................... 345
Central Processing Unit ....................................................................................................... 345
Microprocessor ................................................................................................................... 345
Control Unit......................................................................................................................... 345
Arithmetic Logic Unit .......................................................................................................... 345
Memory............................................................................................................................... 345
RAM..................................................................................................................................... 345
Bits and Bytes ...................................................................................................................... 346
ROM AND RAM ................................................................................................................... 346
CACHE ................................................................................................................................. 346
THE BUS ............................................................................................................................... 346
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FUNCTIONS OF MONEY
Medium of Exchange
It is a characteristic that distinguishes money from other assets (near-money or nonmoney). All other functions of money are derived from this primary function.
Without money, exchange will involve a direct barter of goods and services for goods
and services. It always promotes transactional efficiency in exchange and allocation
efficiency.
Unit of Account
This function of money is also variously known as unit of value, standard of value,
common denominator of value and common measure of value.
In terms of money, the values of all goods and services are expressed which ensures
possible meaningful accounting systems by adding up the values of goods and services,
e.g. National income estimates of a country, money cost of a project, etc.
Standard of Deferred Payment
Money serves as a standard or unit through which deferred or future payments can be
made. This applies to payments of interest, rents, salaries, insurance premium etc.
In a money-using system, the bulk of deferred payments are stipulated in money terms.
Store of Value
This function is derived from the use of money as a medium of exchange in a two-fold manner.
First, it decomposes a single barter transaction into two separate transactions of purchase and
sale. Second, in money-using system, incomes in the form of wages, salaries, rent, interest and
profits are money payments received discontinuously.
KINDS OF MONEY
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Coins: These are metallic token money because the intrinsic (metallic) value of a coin is
less than its face value.
Currency notes: These are made of paper without any intrinsic value. These are
inconvertible in the sense that the issuing authority (RBI) does not stand ready to buy
them back against gold or silver or full-bodied gold or silver coins of equal value at a predetermined price.
Deposit money: It is not like coins or currency notes that can be passed on from hand to
hand for a transfer of purchasing power. Deposits are only entries in the ledgers of bank
to the credit of their holders. Only demand deposits of banks on which cheques can be
drawn are treated as money. The cheques are an instrument through which these
deposits can be transferred from the payer to the payee. Only when the ownership of
these deposits has been so transferred is the medium of exchange or the means of
payment function of these deposits completed.
M or M1 = C + DD + OD
M2 = M1 + savings deposits with post office savings banks.
AMR or M3 = M1 + net time deposits of banks.
M4 = M3 + total deposits with the post-office Saving Organisation (excluding National
Savings Certificates)
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Credit is a stock-flow variable. At any point of time, there is a certain amount of credit (of any
one kind or all kinds) outstanding. It is a revolving stock. Once a loan is repaid, the amount
received can be advanced to the same party or some other party or parties.
KINDS OF CREDIT
The Source of Credit
In the present-day Indian economy credit is provided by a wide variety of sources. These
sources may be conveniently classified as:
Sources of
Credit
Non
Institutional
Institutional
Banks
RBI
Non Banks
Money
Lenders and
indigenous
Open Market
Seller
(Trade Credit)
Other Bank
Commercial
Co-operative
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The cost of credit varies over a wide range for different classes of borrowers and for credit from
different sources. There are no hard and fast rules for classification of credit by cost. Cost-wise
credit is usually divided into three broad classes: (a) cheap, (b) dear, and (c) usurious. Cheap,
dear, and usurious are relative terms.
FINANCIAL SYSTEM
The financial system is a set of institutional arrangements through which financial surpluses in
the economy are mobilised from surplus units and transferred to deficit spenders. The
institutional arrangements include all conditions and mechanisms governing the production,
distribution, exchange and holding of financial assets or instruments of all kinds and the
organisations as well as the manner of operations of financial markets and institutions of all
descriptions. Thus, there are three main constituents of financial system - financial assets,
financial markets and financial institutions.
Financial assets are subdivided under the two heads of primary (or direct) securities and
secondary (or indirect) securities.
The secondary securities are financial claims issued by financial institutions or intermediaries
against themselves to raise funds from public, e.g. bank deposits, life insurance policies, UTI
units, IDBI bonds etc.
FUNCTIONS OF RBI
As currency authority
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The RBI is the sole authority for the issue of currency other than one-rupee notes and
coins and small coins which are issued by Government of India.
There are two separate departments: the Issue Department and the Banking
Department.
As Banker to Government (Centre as well as states)
It transacts all banking business of the government. In return, the governments keep
their cash balances on current account deposit with the RBI. It provides short term
credit to the government. The Central government is empowered to borrow through
treasury bills any amount it likes from the RBI. Thus the Central government is the
ultimate monetary authority of the country.
As banker's bank and supervisor
The RBI holds a part of the cash reserves of banks, lends them funds for short periods,
and provides them with centralised clearing and cheap and quick remittance facilities.
The RBI is authorised statutorily to require scheduled commercial banks to deposit with
it a stipulated ratio (lying between - 3% and 15%) of their net total liabilities. The ratio is
called Cash Reserve Ratio (CRR).
As Controller of money supply and credit
RBI is responsible for keeping inflationary tendencies under check through controlling
the money supply and bank credit.
To perform the above function, following instruments are at the disposal of RBI:
Open market operations
The term open market operation's stands for the purchase and sale of government
securities by the RBI from/to the public and banks on its own account. In its capacity as
the government's banker and as the manager of public debt, the RBI buys all the unsold
stock of new government loans at the end of the subscription period and thereafter
keeps them on sale in the market on its own account.
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CRR refers to the ratio of banks balance with RBI to the banks net demand and time liabilities.
The objective of maintaining a minimum balance with RBI is basically to ensure the liquidity and
solvency of the scheduled banks.
The system of maintaining a minimum cash balance with the Central Bank of a country had
originated in USA.
BANK RATE
The Bank Rate (BR) has been defined in Sec 49 of RBI Act 1934 as the 'standard rate at which
RBI is prepared to buy or rediscount bills of exchange or other commercial papers eligible for
purchase under this act'. The RBI uses its lending power to banks (a) to influence their credit
allocation and (b) to develop a genuine bill market in India.
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Use of Word 'Banking' - For banking companies carrying on banking business in India to
use at least one word bank, banking, banking company in its name.
Immovable property - Banks are prohibited from holding any immovable property
howsoever acquired except as acquired for its own use for a period exceeding 7 years
from acquisition of the property, RBI may extend this period by five years.
Prohibitions on employment like Chairman, Directors etc (Period of office-not mere than
5 years extendable by another 5 years).
Paid-up capital, reserves and rules relating to - Foreign banks: minimum Rs 15 lac (Rs 20
lac for business in Mumbai and/or Calcutta). For domestic Banks: not less than Rs 5 lac.
Ratio of authorised, subscribed and paid-up capital minimum 4:2:1. Voting right more
than 10% irrespective of holding.
Banks not to pay any commission, brokerage, discount etc more than 2.5% of paid-up
value of one share.
Prohibits a banking company from creating a charge upon any unpaid capital of the
company. Section prohibits a banking company from creating a floating charge on the
undertaking or any property of the company without the RBI permission.
Prohibits payment of dividend by any bank until all of its capitalised expenses have been
completely written off.
To create reserve fund: 20% of the profits should be transferred to this fund before any
dividend is declared (RBI however directed banks to transfer not less than 25% of net
profits to Reserve Fund wef Mar 31, 2001).
Cash reserve - Non-scheduled banks to maintain 3% of the demand and time liabilities
by way of cash reserves with itself or by way of balance in a current account with RBI.
Permits banks to form subsidiary company for certain purposes.
No banking company shall hold shares in any company.
Banks cannot grant loan against security of its own shares.
Branch Licensing - obtaining of license from RBI is essential.
Statutory Liquidity Ratio - Every bank to maintain a percentage of its demand and time
liabilities by way of cash, gold, unencumbered securities.
Unclaimed deposits - Return of unclaimed deposits within 30 days of close of each
calendar year (10 years and above).
Every bank has to publish its balance sheet as on Mar 31.
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Publish balance sheet and auditors report within 3 months from the end of period to
which they refer. RBI may extend the period by further three months.
RBI can terminate any Chairman or any employee of a bank where it considers desirable
to do so.
Amendment carried in the Act during 1983 employers Central Govt to frame rules
specifying the period for which a bank shall preserve its books.
Other than a banking company/RBI/SBI, no person can accept deposit of money
withdrawable by cheque.
Certain returns are also required to be sent to RBI by banks such as monthly return of
liquid assets and liabilities, quarterly return of assets and liabilities in India, return of
unclaimed deposits and monthly return of assets and liabilities.
COMMERCIAL BANKS
Commercial banks are the single most important source of institutional credit in India. A
bank is an institution that accepts deposits of money from the public, withdrawable by
cheque and used for lending.
Two essential functions which make a financial institution a bank - I. acceptance of
chequable deposits (of money) from the public and II. Lending.
Three things about deposits are noteworthy:
As bank (under the Banking Regulation Act, 1949) is not allowed to carry on any
business of its own (other than that of banking), the word lending is used here broadly
to include both direct lending to borrowers and indirect lending through investment in
open-market securities.
NATIONALISATION OF BANKS
First to be nationalised was RBI on 1 January 1949.
Nationalisation of Imperial Bank of India and its conversion into State Bank of India in
July 1955.
Conversion of 8 major State-associated banks into subsidiary banks of SBI in 1959.
Nationalisation of 14 other Indian scheduled banks in July 1969.
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Keeping in view the objectives of nationalisation, PSBs undertook expansion of reach and
services. Resultantly the number of branches increased from 8262 in 1969 to 66239 on Jun 30,
2002 out of which 49% in rural areas and no. of people served per branch office came down
from 64000 in 1969 to 15000 in 2002. Much of this expansion has taken place in rural and semiurban areas. The expansion is significant in terms of geographical distribution. States neglected
by private banks before 1969 have a vast network of public sector banks. The PSBs including
RRBs, account for 93% of banks offices and 87% of banking system deposits.
FUNCTIONS OF BANKS
Acceptance of money on deposit from the public.
Collection of cheques, drafts, bills, hundis, and other instruments (inland and foreign)
for their depositors.
Issue of performance and financial guarantees.
Provision of remittance facilities by issue of drafts, mail transfers, and telegraphic
transfers.
Provision of facilities of safe custody of deeds and securities and safe deposits vaults.
Purchase and sale of securities for their constituents.
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CLASSIFICATION
Scheduled Banks: The bank which is included in the second schedule of RBI, Act, 1934.
The bank included in this list should fulfil two conditions:
The paid up capital and collected funds of bank should not be less than Rs 5 lakh.
Any activity of the bank will not adversely affect the interest of depositors.
Non-scheduled Banks: The bank which is not included in the list of scheduled banks is
called non-scheduled bank. It has to follow CRR conditions. However, it can keep these
funds with itself as no compulsion has been made to deposit CRR funds with RBI. It is
not eligible for having loans from RBI for meeting their day-to-day activities but under
emergency conditions it can be granted loans by RBI.
BASEL-II NORMS
Basel is the city of Switzerland where in 1992 the BIS conference was held (Banks for
International Settlement) & this conference for organized by the European Banks in which they
have prepared some guidelines for the banking industry dividing into parts Basel-I & Basel-II.
Basel I- between 1994 to 1004
Basel II- after 2004
The Basel-I guidelines were only intact with the car of the banks in which banks were bound to
maintain their car between 8-12%.
BASEL-II ACCORD
In the era of globalization, the banking industry is facing very high risk like:
Market Risk
Supervisory Risk
Operational Risk
To shake this type of risk, the banking industry requires Basel- II Accord because these accords
are related with risk managements of the banks. There are 3 types of risks Indian banking is
facing.
Operational Risk
Human Resource Risk
Capital Risk
For management of these risks India is required to adopt Basel-II accord.
As banking industry is fully based on computer and software so far operational risk
management, Banks are upgrading themselves in the field of technology. They are increasing
their CBS branches and recruiting highly technically qualified professionals.
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For human resource risk management the bankers are increasing their head count.
Capital risk management is the most concerning area of Basel-II norms in the era of American
subprime crises (capital crunch) and global recession the banks are required to maintain their
capital adequacy ratio between 12-18%.
According to recent release of RBI the top 50 banks of the country requires Rs.51225cr. to meet
capital adequacy ratio norms of Basel-II, of which Rs.45000cr raise through stock options and
Rs.3000sr by RBI and rest of the amount by the GOI.
According to the release of RBI, All Indian banks which have their foreign branches and all
foreign banks working in India are required to adopt Basel-II norms on April 1, 2008 and rest of
the Indian banks by April 1, 2009.
WHAT IS AN NPA?
Non-performing Asset (NPA) is an advance where:
Interest and/or instalment of principal remain overdue for a period of more than 180
days* in respect of a Term Loan,
The account remain out of order for a period of more than 180 days* in respect of an
Overdraft/Cash Credit (OD/CC),
The bill remain overdue for a period of more than 180 days* in the case of bill
purchased and discounted.
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CO-OPERATIVE BANKS
A co-operative bank is registered under the cooperative societys law of the state in
which it is founded.
Serves the needs of the rural sector in general and the agricultural sector in particular.
Provides short-term and medium-term credit to agriculture.
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Main function is to lend money to affiliated primary societies. The duration of loans
vary from 1 year to 3 years.
Their working capital derives from deposits, borrowings and other liabilities and
owned funds.
Working capital drawn largely from public deposits and to a smaller extent from
owned funds and borrowings.
RBI and IDBI offer them concessional refinance facility on a selected basis.
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Provide housing finance and loans and advances for various other purposes such as
petty trade and industry.
DEVELOPMENT BANKS
They are development-oriented banks.
Chief role is the promotion of economic development by way of promoting investment
and enterprise.
Specialised financial institutions which perform the twin functions of providing mediumand long-term finance to private entrepreneurs and of performing various promotional
roles.
Financial resources of development banks rose not directly from the public but from the
Government of India, the RBI, other financial institutions and foreign sources (WB, IFC,
and IDA).
Bonds issued by the IDBI, and the IFCI are guaranteed by the Government of India in
respect of both principal and interest.
ICICI bonds though not guaranteed by the government are treated as trustee securities.
Rate of interest on these bonds is also the same as that on the Government of India
bonds.
As banks, they provide finance.
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Another industrial development bank, the IFCI, and an all-India investment trust, the
UTI, are its subsidiaries.
The paid-up capital of IDBI till end of Mar 1993 was Rs 753 cr which was fully financed
by the Govt of India.
Provides term finance and other development services to industry along with other
development banks.
It also secures short-term advances from RBI by depositing fixed term bills.
Provides refinance to eligible banks and term-financing institutions like the IFCI and
SFCs, against the term-financing of these institutions to industry.
Refinance is provided in three ways:
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To cooperate with the United Nations and its organs and subsidiary bodies, including, in
particular, ECAFE, and with public international organisations and other international
institutions as well as national entities, whether public or private, and to interest such
institutions and entities in new opportunities for investment and assistance; and
To undertake such other activities and to provide such other services as may advance its
purpose.
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India is a part of south-Asia while ASEAN is an organisation of South East Asian Nations: It is
planned to establish AFTA (ASEAN Free Trade Area) by 2003 AD.
G-15
G-15 is an organization of 17 Non-Aligned Developing Countries. The membership of G-15 was
enhanced to 17 after including Sri Lanka into the group. It was established in September 1989 in
Non-aligned Summit (NAM) at Belgrade, Yugoslavia. The member countries are Mexico,
Jamaica, Venezuela, Peru, Brazil, Argentina, Senegal, Algeria, Nigeria, Zimbabwe, Egypt, India,
Malaysia, Indonesia, Yugoslavia, Kenya and Sri Lanka.
The Secretariat of G-15 is located in Geneva but the headquarters are rotated on the basis of
residing country of chairman of the group. All the countries except Brazil and Mexico in G-15
organisation are non-aligned countries. Actually speaking, it is not a correspondingly opposite
institution to G-7. It is mainly an attempt to make G-77 (group of 77 developing countries)
stronger at international forum.
G-24
G-24 is the group of 24 developing countries which initiates and demands more benefit for
developing countries in the meetings of World Bank, IMF and UNCTAD. India is also a member
of G-24. The last meeting of G-24 was held in April 1999 at Washington DC. This group
demanded more assistance to developing countries of this group in Development meeting of
IMF and IBRD held in Washington.
G-24 members held a meeting on October 3, 1998 in Washington which was attended by
Finance Ministers & Chiefs of Central Banks of member nations, including India. This summit
called for lower interest rates charged by industrialised advanced nations. Sh GL Peiris, Finance
Minister Was made the cooperative.
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among systematically important countries within the framework of the Bretton Woods
institutional system with a view to preserving international financial stability.
AQ important distinguishing characteristic of the G-20 from the G-7 is its broader
participation from among both the industrialised countries as well as key emerging
markets, thereby representing a wider range of viewpoints.
Member of the G-20 are: Argentina, Australia, Brazil, Canada, China, France, Germany,
India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the
United Kingdom, the United States, the European Union and the Bretton Woods
institutions.
During the inaugural meeting of the G-20, held in Berlin during December 15-16 1999,
the Group deliberated on various prerequisites for a sound international financial
system and highlighted the importance of the varied initiatives to avert global financial
crisis.
The group welcomed the work of the Bretton Woods Institutions and other bodies in
the areas of codes and standards and agreed to undertake the completion of Reports on
Observance of Standards & Codes and Financial Sector Assessments.
The members of the Group advised their Deputies to consider existing work in other
forums, and to examine further avenues to mitigate vulnerabilities to crisis.
The Group affirmed its commitments to progress towards multilateral trade
liberalisation within the WTO framework.
G-77
This group was constituted under the banner of UNO in 1964 which include 130 countries
belonging to 3rd world - Asia, Africa and Latin America. It is an international economic
community of developing countries aiming at protecting economic interest of the member
countries.
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BANKING TERMINOLOGY
BANK
According To Banking Encyclopaedia Bank Is A Financial Institution Which Receives Deposits
From The Public And Lends Them For Investment Purpose i.e.( y caps), Deposits Of Money And
Advances of The Main Function Of Banks, But In The Era of Globalization Banks Indulges
Themselves In Many Activities Like Insurance, Mutual Fund Business And Investment In Stock
Exchanges, These Activities Of Banking Considered as Para Banking Activities, There are Many
Types Of Banking,
UNIVERSAL BANKING
It is an Expansion of Banking Activities in Different area under a Single Roof.
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TYPES OF BANKING
1. OVERSEAS BANKING- Banking with Foreign operation that means if a domestic Bank is
working in abroad with its many branches.
2. OFFSHORE BANKING- An offshore Bank Account will allow you to safely and privately
explore, with few restrictions, the far reaches of the vast and diverse financial universe.
An offshore bank is a bank located outside the country of residence of the depositor, typically
in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. These
advantages typically include some or all of
Strong Privacy (see also bank secrecy, a principle born with the 1934 Swiss Banking Act)
Less Restrictive Legal Regulation
Low or No Taxation (i.e. tax havens)
Easy access to deposits (at least in terms of regulation)
Protection against Local Political or Financial Instability
3. PARALLEL BANKINGParallel banks are defined as banks licensed in different jurisdictions that, while not being part
of the same financial group for regulatory consolidation purposes, have the same beneficial
owner(s), and consequently, often share common management and interlinked businesses. The
owner(s) may be an individual or a family, a group of private shareholders, or a holding
company or other entity that is not Subject to banking supervision.
Parallel banking relationships may exist, unknown to the supervisors of the parallel banks.
Such structures may be established for a variety of reasons, among others to take advantage of
different tax arrangements; to avoid legal restrictions in some countries on the ownership of
foreign subsidiaries by domestic banks; or to diversify risk outside countries that are considered
economically or politically unstable. In some cases, the motivation may be an attempt to evade
regulatory constraints or consolidated supervision from the home country.
4. MERCHANT BANKINGIn banking, a merchant bank is a traditional term for an investment bank. It can also be used to
describe the private equity activities' of banking developed by merchants, from the Middle Ages
onwards.
5. DOOR TO DOOR BANKINGDoorstep banking is to deliver Banking and Financial Services at the doorsteps of the common
man.
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6. ISLAMIC BANKINGIslamic banking refers to a system of banking or banking activity that is consistent with Islamic
law (SHARIA) principles and guided by Islamic economics. Particular Islamic law Prohibits usury,
the Collection and payment of interest, also commonly called RIBA in Islamic discourse in
addition, Islamic law prohibits investing in businesses' that are considered unlawful, or
HARAAM (such as businesses that sell alcohol or pork, or businesses that produce media such
as gossip columns or pornography, which are contrary to Islamic values). In the late 20th
century, a number of Islamic Banks were created, to cater to this particular banking market.
7. RELATIONSHIP BANKINGRelationship banking is an attempt to advance the sales culture in bank marketing beyond order
taking to a more pro-active form of direct selling instead of selling financial services. One at a
Time, an account officer attempts to gain an understanding of the consumer's needs and offer
services that fulfil those needs. Commercial banks and other financial institutions have
attempted to apply the concept of relationship banking through personal banker and private
banking.
8. UNIVERSAL BANKINGBanking that includes investment services in addition to services related to savings and loans.
9. VIRTUAL BANKINGA virtual bank is a bank with a very small or nonexistent branch network. It offers financial
Services by:
Telephone Banking
Online Banking
Automated Teller Mac Hines (Often Through Interbank Network Alliances)
Mail Banking
Mobile Banking
By Eliminating The Costs Associated With Retail Banking, Particularly Bank Branches, Virtual
Banks May Offer Higher Interest Rates And Lower Service Charges On Their Savings Accounts
Than Their Competitors.
10.GLOBAL BANKINGInternational Banking activities frequently result in financial instability and serious economic
downturns as financial markets become more open and deregulated.
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Competition from multinational bank has reduced the availability of credit to small- and
medium- sized enterprises, to low- and middle-income consumers, and to farmers.
While Economies experience financial instabilities and declining credit, governments are losing
the means to protect their domestic markets.
ACCOUNTS
There are two types of accounts in the banking sector:
1. DEPOSIT ACCOUNT- There are two types of deposits account.
TIME DEPOSITS
Recurring Account
Fixed Deposits
Demand Deposits also known as CASA (Current Account and Saving Account)
Current Account
Saving Account
2. SAVING ACCOUNT- saving account are made for the household saving purpose and
interest rate of this account is decide by the RBI and presently it is 3.5%.
3. CURRENT ACCOUNT- current accounts are made for the business class persons and
account holders can made many transaction in a day. The current account attracts no
interest rate sometimes Banks can charge some charges from this account.?
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Educational Loan.
6.50%
2.
Repo Rate
7.50%
3.
Bank Rate
8.50%
4.
4%
5.
23%
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8.50%
Repo Rate- Repo Rate is the Tool by which RBI in flews liquidity in the financial
system. Or it is the rate of interest at which RBI. Provide short term loans to the
scheduled commercial Bank against the government securities. (Maximum-90 days)
Bank Rate- Bank Rate is the rate of interest at which RBI provide loan to the scheduled
Commercial banks for productive purpose & for long term period (more than 4 year]
CRR- CRR is The Ratio of Banks Total Deposits for which they are bound to keep with
the RBI. It could be between minimum 3% to maximum 15% & CRR is the most effective
measure to check inflation if CRR increases bank are bound to keep more money with
the RBI & the liquidity in market decreases & the value of money increases & inflation
come down.
SLR- SLR is the ratio of banks total deposits for which banks are required to keep with
themselves If might be in form of cash, gold, government securities and deposits in
other banks as current account.
DEFICIT FINANCING
The concept of deficit financing is propounded by Prof. J. M. Kenes in his book "how to pay for
war 1940"
Deficit financing is a practice adopted by all popular government for bridging the gap between
their revenue and expenditure i.e. it is plan excess of expenditure over revenue.
Deliberately budgeting for deficit is deficit financing. Deficit financing is only fulfilled by the
Borrowings and never by printing of new notes.
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MICROCREDIT OR MICROFINANCE
Micro credit is the extension of very small loans to the unemployed to poor Endeavour? and to
others living in poverty who are not considered bankable. These individuals lack collateral
steady employment and variable credit history and therefore cannot meet even the most
minimal qualification to gain access to traditional credit.
Microcredit is a part of microfinance which is the provision of the wider range of the financial
services to the very poor. Microcredit is the financial innovation which originated in Bangladesh
where it has successfully enabled to extremely impoverish people to engage itself employment
project. The founder of this microcredit is Prof. Mohammad Yunus in mid 1970s. He is also the
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founder of gramin bank of Bangladesh with which Mr. Yunus has received the Noble Peace
Price 2006 and to pay respect towards microcredit the united nation organization has declared
year 2005 The International Year of Microcredit.
MUTUAL FUND
A Mutual Fund is the professionally manage firm of collective investments that pools money
from many investors in stock market, bonds, short term, money market instruments and in
other securities. In mutual fund is a fund manager who is also called Portfolio manager trades
the fund underlined Securities.
The value of the share of mutual fund is called the net asset value which is calculated daily
wage on a total value divided be a number of shares, issued and outstanding there are two
types of Mutual Fund.
Open Ended Mutual Fund
Closed Ended Mutual Fund
BULLION MARKET
A market where the trading of precious metals are held like: Gold, Silver, Diamond, Platinum
and Crystal.
STOCK MARKET
A stock market is a private or public market for trading of company, stock and derivatives of
company stock at an agreed price. Both of these are securities listed on stock exchange as well
as those only traded privately.
BULL
Bull is an investor who thinks the market a specific security or an industry will raise. Bulls are
the optimistic investors presently predicting good things of the market and bullish is a habit to
purchase that share which is in profit they are responsible to Rise in stock exchanges.
BEAR
It is an investor who believes that a particular security or market is headed downward. Bears
attempt to profit from a decline in prices. A Bear is generally pessimistic about the state of the
given market.
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STAG
A Stag is an investor or speculator who subscribes to a new issue with the intention of selling
them soon after allotment to realize for quick profit.
MONEY MARKET
Money Market is the global financial market for short term borrowings and lendings. It provides
short term liquid funding for global financial system. In Money Market short term obligations
such as treasury bills, commercial papers and Bankers acceptance are bought and sold. The
Money Market instruments are bank drafts, time deposits, time deposits, short term loans,
promissory notes, ADR, GDR, Municipal notes, treasury bills and mutual funds.
CAPITAL MARKET
The Capital Market is the market for securities where companies and government can raise
long term fund. The Capital Market includes the stock market and the Bond Market.
CALL MONEY
Call Money Market is the market in which broker and dealers borrow money to satisfy their
credit needs either to finance their own inventory or to cover their customer margin Accounts.
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DEBIT CARD
Debit Card is also known as gift card. It is a type of plastic money which provides an alternative
payment method for cash withdrawals through automated tailor machine and this is a prepaid
ATM card.
CREDIT CARD
A Credit Card allows you to borrow money when you purchase. It doesnt directly debit from
your bank account at the time of purchase instead you are sent a bill every month for the sum
of total of your purchase. In other words this is Post Paid Money Card.
SMART CARD
A Smart Card or chip card or integrated circuit card is defined as a pocket sized card with
embedded integrated circuit which can process information. This is a card with all personal
information of any individual in financial and Money Market.
MASTER CARD
Master Card international is a multinational corporation based in purchase throughout the
world. Its principal business is to process payment between bank of merchants and the bank of
purchase that used its master card I.E. Master Card is a service provider company Master Card
international incorporated has been a publicity traded company since 2006 with the brand
name Master Card. All financial institution in banks is the member of this Master Card
international for service providing except bank of America. Bank of America has its own service
proving company named as VISA international.
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Identity Proof.
Referee/Introducer.
Signature Attestation.
RTGS
Real time gross settlement is a fund transfer mechanism where transfer of money takes place
from one bank to another on a real time and on gross basis. This is the fastest possible money
transfer system through the banking channel. The RTGS system is primary for large value
transaction. The minimum amount is Rs. 1 Lakh and there is no upper ceiling for RTGS
transaction while the minimum and maximum stipulation has been fixed for EFT and NEFT.
NEFT
NEFT is nationwide fund transfer system to facilitate transfer of funds from any bank branch to
any other bank. As on Dec. 29, 2007, 34510 bank branches of 82 banks were the member of
NEFT system. The NEFT is an electronic fund system to transfer funds from any part of country
to any other part of country and work on net settlement.
CBS
Core or centralized banking solution is a heart of banking system. This is a process by which a
bank has interconnect their maximum branches through wide area network and only this
system provide a facility of any branch or any time banking.
FINANCIAL INCLUSION
It is a delivery of banking services at an affordable cost to the vast section of disadvantage or
low income group or this is a facility provided by the banking sector to connect each and every
individual to the financial network and the main component of this financial inclusion is no-full
account and simplification of know your customers.
LIBOR
London Interbank Offered Rate
MIBOR
Mumbai Interbank Offered Rate
MIBID
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SARFAESI ACT
Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act
BOND
Bond is a debt security in which the authorized issuer owes the holders a debt and is obliged to
repay the principal with interest at the later date and termed maturity.
DEBENTURES
It is a long term debt instrument issued by government and large companies to obtained funds.
It is very similar to bonds except the securitisation conditions are different.
CAMELS
This is the rating system of RBI for banking recommended by Padmanabhan Committee.
C- Capital Adequacy
A-Assets Quality or Level of NPA
M- Management Effectiveness.
E- Earning of Profitability.
L- Liquidity
S- System and Controls.
Rear-real effective exchange rate.
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MORTGAGE
A Mortgage is a method of using property as a security for the performance of an obligation,
usually the payment of a debt. The term Mortgage refers to a legal device used for this purpose
and it is also commonly used to refer to a debt secure by the Mortgage.
REVERSE MORTGAGE
These are the powerful tools that help eligible home loaners to obtain tax free cash flow.
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ECONOMY
ECONOMIC TERMS
ABSOLUTE POVERTY
It is a type of poverty in which a person is unable to meet the basic necessities of life that
includes consumer goods like food, clothes, and shelter. The alternative approach for absolute
poverty is relative poverty.
ACCELERATOR, INVESTMENT
The Accelerator, Investment suggests that if demand and income increases, it will automatically
increases the investment spending. It means investment causes growth that will obviously
cause more investment.
ALLOCATIVE EFFICIENCY
Allocative Efficiency means the allocation of the productive resources in a best possible way,
which in turn provides extreme satisfaction to the individual. Here, Productive Resources
means land, labour, capital, building, machines etc.
AUTOMATIC STABILIZERS
Automatic Stabilizer is program that enhances and diminishes automatically for equalizing
current economic trends without assistance of government. The best example for automatic
stabilizer is unemployment insurance as it automatically replaces the lost income for people
who have lost their jobs.
BALANCED BUDGET
Balanced Budget is considered as a budget in which total revenue is equal to total expenditure.
In this type of budget, there is no deficit or surplus.
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BANKING CYCLE
Banking Cycle is an economic cycle that shows cyclical changing in banks attitude towards
lending risk. The bankers expand their lending facility in the good economic times. But in
opposite situation, these bankers reduce their lending facility and issue fewer loans to the
needed ones.
BANK
Bank is a financial institution that that accepts deposits and channelizes these deposits towards
lending by issuing loans to the individuals and organizations for promotion of economic growth
and creation of better job opportunities.
BARTER EXCHANGE
Barter Exchange is a commodity to commodity exchange in which one good is exchanged with
another, without any medium of exchange (Money). This exchange system was followed in
earlier times, when money was not in existence.
BOND
Bond is a kind of financial security that shows swear of the issuer for repaying a loan within
specific time period and at the particular rate of interest. The bonds can be sold and purchased
to the investor over and over again. There is wide variety of bonds, which includes:
Fixed Rate Bonds
Zero Coupon Bonds
High Yield Bonds
Convertible Bonds
Perpetual Bonds
Treasury Bonds
Municipal Bonds
CAPITAL
Capital is a sum of money that is used for its productive use. It is also an amount of money,
which is invested in business for the purpose of profit generation.
CAPITAL ADEQUACY
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The capital adequacies are considered as loose rules and regulation, which are imposed on
private banks for assurance of sufficient internal resources so, that these banks can withstand
fluctuations of lending and profitability.
CAPITAL FLIGHT
In this situation, foreigner investor and domestic investors withdraw financial capital from the
country that results in unfavourable changes in economic policies and political consequences of
the country.
CAPITAL GAIN
It is a gain earned on investment by reselling of an asset greater that its actual cost. The asset
that could be purchased for the purpose includes stocks, bonds, other financial assets,
commodities and so on.
CAPITALISM
Capitalism is an economic system that includes all the privately owned companies and
businesses for performing economic activities with the motive for profit generation. The entire
work is performed by the salaried workers and wages earners.
CAPITALIST CLASS
The capitalist class is a group of people, which represent the population of the country owning
private corporate wealth. This class is generally available in advanced capitalist countries.
CENTRAL BANK
It is the public financial institution, which is usually established and controlled by government
of the country. It is the organization, which lends money to the commercial banks, government,
and controls the credit system of the economy.
COMMODITY
The Commodity is a marketable item that is sold and purchased for money including good,
services, inputs, labours etc. For example: copper, petrol, iron, salt, seeds, electricity, oil etc.
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COMPETITION
Competition is a situation that arises when two or more companies or organization sell and
produces similar products. All these companies always compete with each other for markets
and customer.
CONSUMPTION
Consumption means the goods and services that are ultimately used by the consumers for
meeting end needs. The consumption is of many kinds, which includes private consumption
(consumption by individual and financed people) and public consumptions (health care
consumption).
CORPORATION:
The corporation is a business form that is a separate legal entity from the owners. The owners
of this form of business would be benefitted with limited liability, which means potential losses
those results from their ownership in the company. This type of corporation forms Joint Stock
of Ownership.
CREDIT
Credit is ability for purchasing the commodities without paying for them through the mode of
credit card, a bank loan, a mortgage, or other forms of credit. The credit creation is the most
essential source of new money in the economy.
CREDIT SQUEEZE
Credit Squeeze is a situation which disagrees in issuing new loans and credit due to risk of
default cases of the borrower. This type of situation arises during the times of recession and
financial instability. It also empowers down job creation and economic growth of the country.
DEBT
The amount of money owed by the company, individual, and organization towards bank is
called their debt. The amount is owed by government is known as public debt. It symbolizes the
accumulation of past budget deficits.
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DEFICIT
Deficit is incurred when any government, individual or business spends more amount than its
income generation. The deficit could be financed with new borrowing, or by running down
previous savings.
DEFLATION
Deflation is fall in price level of the good and services, which is caused by reduction in supply of
money and credit. It is also called decrease in overall price level of prices.
DEPRECIATION
Depreciation means fall in value of assets from existing stock of real capital. It always reflects
normal wear-and-tear of machinery, equipment, and infrastructure.
DEPRESSION
The depression is considered a very painful recession, where unemployment rises to very high
levels, and economic output does not bounce back.
DERIVATIVES
It is a financial asset whose value for resale entirely depends on value of other financial assets
at the distinctive points of time. The value of derivative is derived from other financial assets
value. For Example: Futures, Options, and Swaps.
DEVELOPMENT
The development is a systematic process, which is aimed to expand and improves the economy
of country in quantitative and qualitative ways. The economic development of the country
requires varied processes and condition that comprises accumulation of real capital,
development of education, skills, and human capacities, improvements in governance,
democracy, and stability
DIVIDEND
Dividend is the payments, which is made by enterprises and corporation to its shareholders.
Also, it is a part of corporate profit, which is paid out to the stockholders. The dividends are
generally being paid in the form of cash, store credits and so on.
ECONOMIES OF SCALE
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The economies of scale refer to the situation in which a firm attains maximum output by using
its resources in an efficient manner. It is a long run concept, which helps us in undertaking the
things efficiently.
EMPLOYMENT
It is a situation in which all the labour resources are engaged in performing certain task or work
within a specified period of time period.
EQUILIBRIUM PRICE
It is the price at which demand for commodity and its supply are exactly equal. The excess
demand and excess supply are equal to zero at the equilibrium price.
EQUITY
It is considered as residual value of companys asset after all outside liabilities have been
allowed for. The equity in company under liquidation is the property of holders of ordinary
shares. Therefore, these shares are called equities.
EXCHANGE RATE
It is the rate of exchange in which currency of one country is exchanged to currency of another
country. The countrys currency appreciates when exchange rate grows and depreciates when
value of exchange rates decline.
EXPLICIT COST
It is a paid out cost, which implies payment made for productive resources purchased by the
firm. Explicit cost is also called accounting costs.
FACTORS COST
It is a term used in national accounts to describe the valuation of output at the market prices
less taxes plus subsidies.
FINANCIAL MARKET
It is the market for the exchange of capital and credit in the economy. The financial market is
segregated in Money Market and Capital Market. The Money Market focuses on short term
debt instruments and Capital Market focuses on long term debts and equity instruments.
FINAL PRODUCTS
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The products that are ultimately used for financial consumption are known as final products like
television, refrigerators and so on.
FISCAL POLICY
It is the budgetary policy of the central government, which include revenue and expenditure
activities in an accounting year.
FIXED COST
The cost which does not change with increase in output is considered as fixed cost. It is also
called overheard cost. For example: Rent on factory lease
FULL EMPLOYMENT
It is a condition in which, a willing and able workers is able to find paid job within a specific
period of time. At this time, unemployment is approximately zero.
GOODS
Goods are tangible products that are produced in the economy. It includes natural resources,
agricultural products, manufactured products, and construction products.
GIFFEN GOODS
These are those goods, whose demands do not increase with rise in level of income. The goods
which do not obey the laws of demand are Giffen Goods.
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HEDGE
It is an action taken by buyers and sellers for the protection of his business or assets against a
change in prices.
HUMAN CAPITAL
It is the term used for skills and knowledge embodied in labour force. The investment in human
capital can increase labour productivity.
HYPER-INFLATION
It refers to very rapid growth in rate of inflation. The earlier term for same phenomenon is
galloping inflation.
INDUSTRIAL POLICY
The government policies, which are made for fostering the development of the country,
creation of desirable for productive industries and for enhancement of international trade
performance.
INFLATION
Inflation is the process wherein average price level in an economy increases over time.
INTERMEDIATE PRODUCTS
The products that are manufactured for usage in production of other goods or service are called
intermediate goods. For example: capital goods and raw material
INVESTMENT
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Investment means real capital formation, such as the production or maintenance of machinery
or the construction of dwellings that will produce a stream of goods and services for future
consumption.
LABOR FORCE
Labour force means the total population of working age group people, who are willing and able
to work.
LOAN CAPITAL
It refers to fixed interest borrowed funds. It is an alternative term for debenture.
LIQUIDITY TRAP
It refers to the situation in which rate of interest is low that no one wants to hold bonds and
people only want to hold cash.
MARGINAL COST
The marginal cost refers to the extra cost incurred due to the last unit of output produced by
the firm.
MACROECONOMICS
Macro economics is the study of economics as a whole. In micro economics, we study about
aggregate an economic indicator that includes GDP growth, employment, unemployment, and
inflation.
MICROECONOMICS
Microeconomics is the study of individual economic behaviour. The components of which
includes theory of income, theory of employment, individual demand and supply etc.
MONETARY POLICY
It refers to the central government policy with respect to the quantity of money in the
economy, the rate of interest, and the exchange rate.
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MONEY
Money is anything which is used as a medium of exchange. It is widely accepted as in payment
of goods and services and settling debts.
MORTGAGE
It is a legal agreement conveying conditional ownership of assets as a security for a loan and
becoming void when debt.
MULTIPLIER
The multiplier is defined as the increase in national income divided by the increase in
expenditure generating that increase in income.
MONOPOLY
Monopoly is that market situation in which there is only one manufacturers or supplier of the
products and services.
NATIONAL INCOME
GNP - Ultimate Monetary Value of all the Services and Goods Produced by the Citizens
of The Country Either inside the Country or Abroad in the Single Financial Year Is Known
as GNP.
GDP- Under the certain geographical area the monetary value of all the services and
Goods produced in the single financial year is known as GDP. Domestic Labour and net
income from the abroad doesn't include in GDP.
NEAR MONEY
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It refers to an asset which like money acts as a store of value but which is not immediately
acceptable as a medium of exchange.
NOMINAL VALUE
It is the face value of a share or bond, which may be more or less than its market price.
OLIGOPOLY
Oligopoly is a type of market in which few big firms accounts for large number of output. For
e.g. Oil Companies
PAYROLL TAX
It is a tax levied on employers wage bill or on payroll of the employees.
PERFECT COMPETITION
Perfect Competition is a type of competition in which there are large numbers of buyers and
sellers.
POVERTY LINE
Poverty Line is drawn on the basis of barest minimum desirable nutritional standards of calorie
intake.
PREFERENCE SHARE
Holders of preference share precede the holders of ordinary shares, but follow debenture
holders, in the payment of dividends and in return of the capital if the issuing company is
liquidated.
PRIVATE COMPANY
It is a type of business organization that permits a limited number of shareholders to enjoy
limited liability and to be taxed as a company.
PRODUCER GOODS
The term refers to a commodity used in the production of other goods and services as distinct
from final or consumer goods.
PROFIT
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Profit is the surplus, which is left over after selling all its output and pay off the cost of
production (labour cost, raw material and proportional share of its capital equipment).
PROGRESSIVE TAX
It is a tax that takes an increasing proportion of incomes as income rises.
PUBLIC INVESTMENT
It is the real investment undertaken by the government or public institutions on structures,
infrastructure, machinery and equipment, and other real capital.
RATE OF INTEREST
It is the proportion of a sum of money that is paid over a specified period of time in payment
for its loan.
RATE OF RETURN
It means net profit after depreciation as a percentage of average capital employed in the
business. It is one of a number of financial ratios used to measure the efficiency of a business as
a whole.
RECESSION
It is a situation of sharp slowdown in the rate of economic growth or a modest decline in
economic activity. Also, recessions are a feature of trade cycle.
RETURN ON EQUITY
It is considered as a measure of business profitability, which is equal to net after-tax income
divided by the average level of shareholders equity in the business.
RISK CAPITAL
It refers to the long term funds invested in the enterprises particularly, which is subject to risk
as in new venture.
SALES TAX
The sales tax is a tax levied as a proportion of the retail price of a commodity at the point of
sale. It is also called Value Added Tax.
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SHARES
It is one of a number of equal proportions in the nominal capital of a company entitling owner
to a proportion of undistributed profit and of residual value if the company goes into
liquidation.
SPECULATION
Speculation includes purchase of a financial asset with hope of increase in market prices, which
will allow a profit to be made on it subsequent resale.
SUBSIDY
It refers to government grants to the suppliers of goods and services. A subsidy may be
intended to keep the price down.
SURTAX
It is an additional tax on higher income levied on net income after certain deductions including
earned income relief.
SUPPLY
The total quantity of commodity offered for sale in the market at any given price during
particular time period is called supply of that commodity.
SURPLUS
The surplus means exceed in income over expenditure. The economy of any country or any
sector experiences surplus.
TARIFF
These are taxes imposed on commodity imports. The tariffs are generally imposed for
stimulation of more domestic production of the products.
TAX BURDEN
It is the amount of money, which any individual, institution or group must pay in tax. It should
include all cost to the tax payer, which he incurs in paying the tax.
TERMS OF TRADE
It is the ratio of index of export prices to the ratio of import prices.
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TRANSFER PAYMENTS
It refers to grants or other payments not made in returns for a productive service. For example:
pensions, unemployment benefit, and other form of income support.
UNEMPLOYMENT
The unemployment is the situation wherein an individual who is able and willing to work is
unable to find a job in the economy. That particular person is considered an officially
employment.
UTILITY
It is a capacity of the human being to satisfy wants. Also, it is want satisfying power of
commodity. The amount of utility a commodity posses, it depends entirely on the intensity of
wants of the person who uses that goods.
VARIABLE COST
Variable cost means the cost, which vary directly with the rate of output. Examples of variable
cost are labour cost, raw material cost. The variable costs are also called operating cost, prime
cost, direct cost etc.
WHOLESALE BANKING
It means the making of loans and acceptance of deposits on a large scale between banks and
other financial institution especially in inter-commercial banks.
WEALTH TAX
It is a tax in which an owner of particular wealth forms comprising financial wealth, real estate,
or inheritance could pay a specified proportion of the wealth to the government.
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NASDAQ
National Association for Securities Dealer and Automated Quotations
NCDEX
National Commodities Derivative Exchange
GST
Goods and Service Tax [It is going to be implemented by April 1st 2011]
This tax will replace central excise duty and service tax from April 1, 2011.
INDIRECT TAXES
Central Excise Duty
Custom Duty
Service Tax
The biggest source of income for GOI is corporate tax.
FISCAL DEFICIT
This is overall resources gap of the union budget.
INFLATION
The Persistence and continuous decrease in the value of money due to Excess supply of money
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The unemployment rate (per 1000) among the major states is the lowest in Gujarat (18)
and highest in Kerala (73) and Bihar (73) in urban areas and the lowest in Rajasthan (4)
and again highest in Kerala (75) in rural areas.
Infant mortality rate (IMR) in 2011 is the lowest in Kerala (12) and highest in Madhya
Pradesh (59) against the national average of 44.
Birth rate is lowest in Kerala (15.2) and highest in Uttar Pradesh (27.8) against the
national average of 21.8.
Death rate is lowest in West Bengal (6.2) and highest in Odisha (8.5) against the national
average of 7.1.
In terms of decadal growth rate in bank branches, Haryana (59.5 percent) has the
highest growth and Bihar the lowest (14.4 percent). Even a north-eastern state like
Assam (16.5 percent) is better placed than Bihar.
INDUSTRIAL SECTOR
After recovering to a growth of 9.2 percent in 2009-10 and 2010-11, growth of value added in
industrial sector, comprising manufacturing, mining, electricity and construction sectors,
slowed to 3.5 percent in 2011-12 and to 3.1 percent in 2012-13. The manufacturing sector, the
most dominant sector within industry, also witnessed a decline in growth to 2.7 percent in
2011-12 and 1.9 percent in 2012-13 compared to 11.3 percent and 9.7 percent in 2009-10 and
2010-11, respectively.
SERVICES SECTOR
The Centre for Monitoring Indian Economys (CMIE) analysis of the sector-wise performance of
services activities based on firm-level data show that the performance of sectors such as
transport logistics, aviation and construction in the year 2012-13 is subdued in comparison to
with the previous year. High negative PAT (profit after tax) in hotel sector continued. The health
services and telecom sectors were projected to have rebounded in the year 2012-13. Overall
the year 2013-14 is projected to be better for most of the sectors, except retail trading, which is
projected to have negative growth in profitability.
INTERNATIONAL TRADE, INDIA AND GLOBAL ECONOMY
Union Finance Minister P. Chidambaram on 27 February presented the Economic Survey 201213 in the Lok Sabha of the Parliament. World trade in both goods and services reached and
surpassed pre-crisis levels in 2011. However, the deceleration in world growth and trade in
2012 and forecast of only a gradual upturn in global growth by international institutions
reflected a weak and slow recovery for world trade. India's exports, which had surpassed precrisis levels within a year in 2010-11 with a record 40.5 percent growth, continued growing
even in 2011-12, but were finally affected by the global slowdown in 2012-13 with exports
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declining even more at - 4.9 percent in the first ten months than the -3.5 per cent recorded
during 2009-10.
Gold Imports and Policy Measures: India is one of the largest consumers of gold in the world
with consumption increasing from 721.9 tonnes in 2006 to 933.4 tonnes in 2011 and 612
tonnes in the first three quarters of 2012, accounting for around 27 per cent of world gold
consumption in 2011, and 26.4 per cent in 2012 (total of first three quarters). In the case of
export of gold jewellery, the major export destinations include the UAE (57.9 percent), Hong
Kong (14.1 percent), and the USA (12.0 percent).
ENERGY, INFRASTRUCTURE AND COMMUNICATIONS
Union Finance Minister P. Chidambaram on 27 February presented the Economic Survey 201213 in the Lok Sabha of the Parliament. The Twelfth Five Year Plan laid special emphasis on
development of the infrastructure sector including energy. The total investment in the
infrastructure sector during the Twelfth Five Year Plan, estimated at 56.3 lakh crore Rupees
which is nearly double that made during the Eleventh Five Year Plan. Unbundling of
infrastructure projects, public private partnerships (PPP), and more transparent regulatory
mechanisms have induced private investors to increase their participation in infrastructure
sectors. Their share in infrastructure investment increased from 22 per cent in the Tenth Five
Year Plan to 38 per cent in the Eleventh Plan and is expected to be about 48 per cent during the
Twelfth Five Year Plan. Production of coal, cement, petroleum refinery was marginally higher
during the 2012-2013 fiscal years as compared to the corresponding period of the 2011-2012
fiscal year while steel and power-sector production was comparatively lower.
AGRICULTURE AND FOOD, SUSTAINABLE DEVELOPMENT AND CLIMATE
Union Finance Minister P. Chidambaram on 27 February 2013 presented the Economic Survey
2012-13 in the Lok Sabha of the Parliament. India's Economic Survey for 2012-13 pegs the
country's growth at 6.1-6.7% and inflation at 6.2-6.6% for the next fiscal 2013-14 and made a
strong call for cutting subsidies.
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The Union government on 12 March 2013 informed that state-run Coal India Ltd. (CIL) signed
fuel supply pacts with 56 power plants so far. Minister of state for coal, Pratik Prakashbapu Patil
in his written reply to Lok Sabha mentioned that, Coal India Ltd has signed 56 fuel supply
agreements (FSAs) with the power plants as on 2 March 2013. It is important to note that the
deadline set by the Prime Ministers Office (PMO) for signing of FSAs between CIL and power
producers expired in January 2013.
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received from public consultations and from a global peer review, RBI said without providing
details.
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WORKING MEN
Old Tax
New Tax
0
0
30900
28840
92700
92700
133900
133900
597400
597400
1369900 1369900
2914900 2914900
3223900 3546290
WORKING WOMEN
Old Tax New Tax
0
0
30900
28840
92700
92700
133900 133900
597400 597400
1369900 1369900
2914900 2914900
3223900 3546290
SENIOR CITIZENS
Old Tax
New Tax
0
0
25750
23690
87550
87550
128750
128750
592250
592250
1364750 1364750
2909750 2909750
3218750 3540625
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NEW PLANS AND SCHEMES ROLLED OUT IN THE UNION BUDGET 2013-14
Nirbhaya Fund: The Finance Minister announced the setting up of a fund called the
Nirbhaya Fund - with the Government contributing 1000 crore Rupees for safety and
security of the women in India. The Finance Minister announced that various initiatives
were underway as well as a lot more were undertaken by Government and NGOs for
empowering women and providing them safety and security.
1000 crore Rupees scheme for training youth: A 1000 crore Rupees scheme for training
youth for boosting up their employability and productivity was rolled out in the budget.
The National Skill Development Corporation would be required to set up curriculum and
standards for training different skills. The trained youth who will pass the test by the
end of the training would get monetary reward of 10000 Rupees on an average. This
initiative would motivate 10 lakh youth.
Proposal to set up Indias first Womens Bank as a public sector bank with 1000 crore
Rupees as initial capital.
Direct Benefit Transfer (DBT) Scheme to be rolled out throughout the country during
the term of UPA Government. This scheme will help the poor. Under the scheme, a bank
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account will be opened for each beneficiary; and the bank account will be seeded with
Aadhaar in due course.
10000 crore Rupees earmarked for National Food Security towards the incremental
cost.
Drinking water and sanitation will receive 15260 crore Rupees. 1400 crore Rupees are
being provided for setting up water purification plants to cover arsenic and fluoride
affected rural areas.
Proposal to launch Inflation Indexed Bonds or Inflation Indexed National Security
Certificates to protect savings from inflation.
Voluntary Compliance Encouragement Scheme launched for recovering service tax
dues.
9000 crore Rupees earmarked as the first instalment of balance of CST compensations
to different States/UTs.
The Interest Subvention Scheme: This scheme for short-term crop loans is proposed to
be continued for loans by public sector banks, RRBs and Cooperative banks, and
expanded to private scheduled commercial banks. Under the scheme, a farmer who
repays the loan on time is able to get credit at 4 cent per year.
National Livestock Mission: 307 crore Rupees have been provided for setting up of the
National Livestock Mission. This will attract investment and enhance livestock
productivity. A sub-mission of this Mission seeks to increase the availability of feed and
fodder.
Assistance of the World Bank and Asian Development Bank will be sought to build roads
in the North Eastern States and connect them to Myanmar.
The body of Rural Infrastructure Development Funds (RIDF) is proposed to be raised to
20000 crore Rupees.
Plans for seven new cities were finalized for industrial corridors and work on two new
smart industrial cities at Dholera (Gujarat) and Shendra Bidkin (Maharashtra) will start
during 2013-14.
Two new ports will be established in Sagar (West Bengal) and in Andhra Pradesh.
A power transmission system will be constructed from Srinagar to Leh and for this 226
crore Rupees were provided in 2013-14.
Apparel Parks are proposed to be set up within the Integrated Textile Parks, to house
apparel manufacturing units.
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borrowing of government in 2012-2013 fiscal year came down to 5.58 lakh crore Rupees from
5.70 lakh crore Rupees as imagined in 2012-2013 budget. The Finance Ministry announced that
after reviewing the cash position as well as the funding requirement of the government, it was
decided that market borrowing of the Government through dated securities by 12000 crore
Rupees would be reduced.
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As cell phone operators continued disconnecting inactive SIM cards, India's total telecom
subscriber base declined by 25.97 million to 895.51 million in December. In November, the
country had 921.47 million telecom subscribers.
Telecom Regulatory Authority of India (TRAI) stated that total wireless subscriber base
decreased from 890.60 million in November 2012 to 864.72 million at the end of December
2012. TRAI reasoned that this decline is majorly due to large scale disconnections of inactive
SIMs by some of the service providers. With this, the overall teledensity in India decreased to
73.34 per cent at the end of December, 2012 from 75.55 per cent in the previous month.
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The Union Cabinet of India on 7 February 2013 approved raise in the authorized capital of
National Bank for Agriculture and Rural Development, Nabard to 20000 crore rupees from 5000
crore rupees. The authorized capital was increased with the aim to enlarge the operations and
broadening the activities of NABARD.
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deposits that banks have to park with RBI, would improve the availability of funds. Unveiling
the policy review in Mumbai, RBI stated that the stance of monetary policy in this review is
intended to provide an appropriate interest rate environment to support growth as inflation
risks moderate. CRR cut will have impact on long term interest rates.
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The International Monetary Fund (IMF) on 23 January 2013 projected that the economic
growth rate of India in 2013 would be 5.9 percent. The IMF also projected an increased growth
rate of 6.4 percent for 2014 looking forward towards the gradual strengthening of the global
expansion in Indias context.
About International Monetary Fund (IMF)
The International Monetary Fund (IMF) is an organization of 188 countries that works for
fostering the global monetary cooperation, promote high employment and sustainable
economic growth, facilitate international trade, secure financial stability and reduce poverty
around the world. Since the end of World War II, the IMF had been playing a major role in
shaping the global economy. The IMF has played a part in shaping the global economy.
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from Andhra Pradesh. Presently there is no import duty for crude edible oil but refined edible
oil attracts an import duty of 7.5 per cent India imports about half of the total domestic
requirement of cooking oil.
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Awards
Sates
The Awards for Special Contribution to Total Food Madhya Pradesh, Tamil Nadu, Manipur
Grains Production
and Nagaland
Award for Contribution to Production and Bihar
Productivity of Rice
Award for Contribution to Production and Haryana
Productivity of Wheat
Award for Contribution to Production and Jharkhand
Productivity of Pulses
Award for Contribution to Production and Uttar Pradesh
Productivity of Coarse Cereals
Ten states namely Punjab, Uttarakhand, Assam, West Bengal, Tripura, Rajasthan, Gujarat,
Arunachal Pradesh, Mizoram and Himachal Pradesh were presented commendation awards.
From the eight awards winning states, for the first time one male and one female farmer were
also awarded for their outstanding performance.
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happened because of an increase in the new orders as well as strengthened factory output. The
survey provides a peep into the sector of manufacturing ranging from jobs to output. The
survey showed that the manufacturing activity increased from 53.7 in November 2012 to 54.7
in December 2012.
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or pension funds, hedge funds, investment advisors and mutual funds. They act as highly
specialized investors on behalf of others which are considered as their economic role.
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Foreign investments in the Indian markets through P-notes or PNs (Participatory Notes)
increased to 8-month high of around 1.75 lakh crore Rupees or 32 billion dollar in October
2012. This happened because different reform measures attracted the overseas investors
towards the Indian markets. Market regulator SEBI (Securities and Exchange Board of India)
revealed in its data that the overall value of P-Note investments in India (debt, equity or
derivatives) by October 2012 end increased to highest since February 2012, when the total
value of investments like these were 1.83 lakh crore Rupees.
What are P-Notes or PNs?
P-Notes or PNs or Participatory Notes are used by the HNIs or High Net worth Individuals,
foreign institutions as well as hedge funds. P-Notes allow them to invest their money in Indian
markets via registered FIIs or Foreign Institutional Investors. This saves them cost as well as
time related to direct registrations.
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The economy of India grew just by 5.3 percent in July-September quarter of fiscal year 20122013, revealed the Central Statistical Organisation. The economy dropped down the rate of
growth because of poor performance of the agriculture as well as manufacturing sectors and it
is persistently indicating slowdown signs. In the previous fiscal year, the gross domestic product
(GDP) had grown by 6.7 percent in the same quarter. In the first quarter of 2012-2013, the
economy had grown by 5.5 percent.
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Note issued by the South African Reserve Bank, displayed the 94-year-old anti-apartheid icons
smiling face. Also, the earlier images of one of the five big animals featured on the old bank
notes lion, leopard, rhino, buffalo and elephant will be retained on the reverse of the note.
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loans up to an aggregate limit of 2 crore Rupees, to corporate that includes farmers producer
companies, co-operatives and partnership firms of famers indulged in agricultural and allied
activities including animal husbandry, bee-keeping, dairy, fishery and sericulture. The Priority
loan would also be made available for pre-harvest and post-harvest activities like weeding,
spraying, grading, harvesting and sorting. Export Credit loans for exporting ones own farm
produce would also be made available. The lending scheme fulfils the criterion mentioned
under the MSMED Act-2006.
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The International Monetary Fund (IMF) on 9 October 2012 had slashed Indias growth forecast
to 4.9 per cent for 2012 due to low business confidence and sluggish structural reforms. The
International Monetary Fund earlier in July projected a growth rate of 6.1 per cent for the year
2012-13. During the first quarter ended in June 2012, Indian economy expanded by 5.5 per
cent. In the World Economic Outlook (WEO) released in Tokyo ahead of the IMF-World Bank
2012 Annual Meetings, International Monetary Fund stressed that Indias activity suffered from
waning business confidence amid slow approvals for new projects, sluggish structural reforms,
policy rate hikes designed to rein in inflation, and flagging external demand. The report has
projected 6 per cent growth for the next year (2013), compared to an earlier 6.5 per cent
projection.
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for service providers of Direct to Home (DTH), modernized cable network and mobile television.
This move of the government will allow the global players in acquiring major stakes in the
broadcasting companies. Before his decision was passed, the eligibility of DTH and multi-system
cable operators to make foreign investment was limited to 49 percent only.
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IMPS system, the user will be charged with Rs 5 for transactions of up to Rs 5000 and Rs 10 for
transactions more than that.
The facility of booking via IMPS will be available to those with their phone number registered in
the respective bank accounts as the M-Pin and the MMID (Mobile money identifier) will be
required for furnishing the details required. This facility will ensure smooth and functioning of
the booking criteria via SMSs.
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Investors who are not functional in airline business can own equity of 49 percent
directly or indirectly in the Indian Aviation Companies.
FDI in Power Exchanges will be guided via
49 percent of FDI in power trading exchanges will be taken care of as per the regulation
laid down by SEBI and Central Electricity Regulatory Commission (Power Market)
Regulations) 2010.
The commerce minister stated that Foreign Institutional Investors cannot exceed a limit
of 26 percent investment and the paid-up capital will be restricted to 23 percent.
FII can be permitted under automatic routes whereas; the FDI will be scrutinized under
the route approved by the government.
The generation of electricity, power transmission and distribution along with trading will
be done in accordance to the provisions of the Electricity Act 2003.
The current policy allows FDI up to 100 percent in power sector (atomic energy is an
exception).
What does it mean for different economic sections of India
Economy: Help in reversal of the economic slowdown, attract the investment of billions
of dollars from foreign market and spin jobs to a greater extent.
Kirana Stores: Will lower down the selling price, because they will purchase the supplies
from deep down retailers.
Retailers: Can sell their equity up to 51% to the global leaders.
Farmers: They can sell their produce directly at higher prices and the presence of middle
man will end.
States: Decision to allow the retail giants or prohibit lies in the hands of states.
Common Man: A chance to gain big discount with many options to shop.
UPA government: Got a chance to wash away the blames of policy paralysis.
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households. The decision will be applicable for a period of one year from the day of
announcement. The decisions made in the meet, are subject to be practiced in the drought
affected areas only. There is a total of 8 percent deficiency in the monsoon to that of the 20
percent recorded in the first four months of the season.
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The government of India on 29 August 2012 approved a 14000 crore rupees fund to spur the
production of hybrid and electrical vehicles in the country. According to a new policy approved,
Automobile companies and the government plan to put six million electric vehicles on road by
2020. The government under the new policy will fund research and development, infrastructure
and subsidies.
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The guarantee for domestic companies from offshore entities effectively lifts the credit ratings
of the bonds thereby benefitting lower-rated borrowers. Indian companies have always been
constrained in their funding options due to high domestic interest rates and difficulties in
tapping markets overseas. The actions targeting credit guarantees will benefit sectors such as
telecoms and energy, where foreign companies often operate via Indian units, but whose
domestic borrowing get constrained if they had lower ratings than their parent companies.
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at USD 3.5 billion. The US and the Europe together account for over 45 per cent of the country's
total seafood exports.
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noted despite the slowing growth both the government and the Reserve Bank of India had
provided little policy response. Moody's added weaker-than-average rainfalls during the
monsoon period would also weigh on India's growth. The research unit also cut its 2013 growth
forecast to 6 percent from 6.2 percent.
FITCH RATINGS REVISED THE INDIAN RETAIL SECTOR OUTLOOK FOR THE
SECOND HALF 2012-13 TO NEGATIVE
Fitch Ratings revised the Fitch Ratings revised the Indian retail sector outlook for the second
half of the financial year 2012-13 to negative from stable in the backdrop of a decline in the
discretionary spending ability. Fitch has revised down its real GDP forecasts to 6.5% and 7.0%
for 2013 and 2014 respectively from the earlier 7.5% and 8.0%. The downward revision was
attributed to sluggish demand, high construction costs and liquidity pressures. The worsening
business conditions are likely to negatively impact credit profiles. The impact on individual
retailers however depends on their ability to manage their capital structures.
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lowering the base rate concerned the RBI. This activity of the banks resulted in the transmission
of monetary policy signals by the central bank to be ineffective. The base rate is supposed to be
responsive to changes in monetary conditions. The RBI had formed a committee to assess the
monetary policy transmission mechanism and also loan products offering fixed interest rate.
The RBI want banks to enact changes in lending rates through their respective benchmark base
rates for floating-rate loans.
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to ensure that lending to the micro finance sector, that is, individuals, SHGs or JLGs, which
qualify for loans from MFIs to be restricted to 10 per cent of the total assets.
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done through large-scale health, hygiene and child protection programmes. It will provide local
support in more than 40 countries in the world.
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such users to go for financial services such as cash withdrawals, cash deposits, self-reload of
prepaid mobile credit, money transfer to the third-parties as well as utility bills transfer.
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SpiceJet decided to launch its flights to Guangzhou in the first week of February 2013. With this
launch, the low-cost carrier, SpiceJet will become the only Indian private airline to fly China. It
has decided to launch the four weekly flights starting from New Delhi to Guangzhou.
AIRCEL LAUNCHED FREE ROAMING SERVICE FOR VOICE, SMS AND DATA
Aircel on 28 January 2013 launched a product called One Nation, One Rate which offers users
one rate for voice, SMS and data in home circles and on roaming. Incoming calls while on
roaming on Aircel network will be free. Aircel users in Delhi can get the service for 39 rupees,
while Mumbai subscribers will have to pay 32 rupees.
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Spice Global, the diversified company on 22 January 2013 entered into the healthcare sector
and also announced its plans to invest more than 1400 crore Rupees by 2016 in order to
establish its 1st hospital. The hospital called Saket City Hospital would have 1000 beds at first.
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As per the pact Hyderabad Based firm Mahindra Satyam would also look at selling cloud-based
healthcare solutions.
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The Union government in month of January 2013 decided to divest 10 percent stake in Oil India
in the second fortnight of January and follow this up by disposing of 9.5 percent holding in
NTPC in February 2013. As per the Disinvestment Secretary D.K. Mittal the 10 percent stake in
Oil India could fetch around 2700 crore rupees at current market prices also the 9.5 percent
stake sale in National Thermal Power Corporation (NTPC) could yield over 12000 crore rupees
for the exchequer.
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Suven Life Sciences the Drug Firm on 31 December 2012 won patents on three products for
CNS molecules. Among the patents two are from Eurasia with patent numbers 016594 and
017007 and one is from Canada with patent number 2683124. These are the New Chemical
Entities (NCEs) and would be used for the treatment of disorders related to Neurodegenerative
diseases. The validity of these patents would last up to 2027.
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The New York Stock Exchange which is said to be the foundation of American capitalism for 220
years now, agreed to sell itself as part of the 8.2 billion dollar takeover by Intercontinental
Exchange Inc. (ICE). According to the deal which was announced on 20 December 2012, ICE
would be paying 33.12 dollar per share for NYSE Euronext, which is higher by 38 percent than
the closing price on 19 December 2012.
DLF SOLD LUXURY HOTEL CHAIN AMAN RESORTS FOR 300 MILLION
DOLLAR
DLF, one of the biggest real estate company sold luxury hotel chain Aman Resorts to the
founder Adrian Zecha for 300 million dollar or 1637 crore Rupees. However, the deal did not
include Aman New Delhi (initially called Lodhi Hotel). DLF will continue to be the owner of this
hotel. Aman Resorts has approximately 25 more properties all over the world.
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shareholders on individual basis of this company. Earlier in December 2012, Cyrus Mistry was
also appointed as chairman of Tata Motors. He would commence playing his role from 28
December 2012. He was also appointed as chairman of two other Tata companies- Tata
Chemicals and Tata Steel. In November 2012, Ratan Tata also bowed out from Tata Global
Beverages as the chairman, which paved way for Mistry.
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dental care service provider in Australia. Fortiss stake in DC would thereafter be sold to Bupa
for 270 million Australian dollars, which is around 1554 crore Rupees, by March 2013.
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Reliance Group led by Anil Ambani signed an agreement with Chinas retail player Dalian
Wanda Group to set up a joint venture for strategic long term partnership between them which
covers several areas of mutual interest. The main focus would be on the development of real
estate, township projects and movie theatre projects.
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Bharti Infratel, the tower business unit of Bharti Airtel received 651.7 crore Rupees from 18
anchor investors. It is important to note that this investment came ahead of 4500 crore Rupees
public offer which opens on 11 December 2012. The price of shares of the company for anchor
investors is 230 rupees per piece and 2.83 shares were allocated to these anchor investors.
These anchor investors include Wellington, Battery March, Columbia Wagner,
AllianceBernstein, Clough Capital, Route One Capital, Sundaram MF, Morgan Stanley among
many others.
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world was struggling continuously for initialising its supermarket in India and since 2008 it is
lobbying with US lawmakers to seek entry into Indian markets which are highly lucrative. In
previous quarter which had ended on 30 September 2012, Wal-Mart had spent 1.65 million
dollar or around 10 crore Rupees on different lobbying issues and these also included
discussions in context with FDI in India.
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Dell is originally a computer maker and it started its services in 2009 like IBM, after acquiring
Perot Systems for 3.9 billion dollar. Ever since that time, the Round Rock, Texas-based Company
was constantly working to enhance its presence in BPO and global IT services.
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infusion were given to the government but the final decision would be that of the government
itself. The government would decide how equity needed to be infused in SBI.
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The major reasons of these rising frauds were grinding down of the ethical values, weaker
internal control system as well as reluctant managers for taking the decisive action. Among
various kinds of frauds, it was pointed out by the survey that around 81 percent noticed fraud
in the financial statement as a major concern and issue.
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PVR is the Gurgaon-based company. PVR stands for Priya Village Roadshow. It is one of the
largest multiplexes in India. Commercial operations of PVR commenced in 1997 and since then,
it brought a transition to the experience of cinema viewing in India. The first multiplex in India
was PVR Anupam located in Saket, New Delhi.
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African operations, including switching, radio, network management, data, charging, and
consumer-services platforms and systems, the company said in a statement. Ericsson had
deployed wireless technologies under the programme, and it is going enhance Airtel's network
capacity and robustness and would also help deliver services to customers at affordable rates.
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Micro Blogging site Twitter on 15 November 2012 launched a new service for Email Sharing of
Tweets also known by one-to-many text messaging service. The new email service is now going
to allow users to share their favourite Tweets via email. The Company is giving users the ability
to share tweets beyond their list of followers on the social media site.
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supporting the development programs of Smile Foundation in terms of Primary education and
Health Care in both urban and rural communities of seven states of India and the states are
Uttar Pradesh, Chhattisgarh, Maharashtra, Haryana, Odisha and Tamil Nadu.
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The French Government on 24 October 2012 agreed to offer a rescue package of 7 billion to
the struggling car firm Peugeot Citrogen. The firm considered the funding to be the most
significant one at the time when the company announced a huge fall in its sales. As per the
reports, 30 banks would be involved in providing the loan of 11.5 billion in form of cash
facilities, and 1 billion as an additional liquidity facility. France would be providing finances of
up to 5 billion and 7 billion. This is the biggest bailout package intervention in the auto
industry by France after 2009, the last time when the country extended a help of 6 billion of
low-interest loans to Peugeot and Renault.
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space grade solar panels and batteries were manufactured and tested to strict space quality
standards at the BHEL facility by highly skilled manpower.
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Starbucks Company runs 18,000 stores in 60 countries worldwide running over 700 outlets in
China, 1000 outlets in Japan and 8000 outlets in the U.S
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The Petroleum and Natural Gas Ministry on 17 October 2012 escalating the troubles of Reliance
India Limited informed the Prime Minister office that it would not approve the investments of
the company on its KG-D6 fields. The ministry came to its decision after the company refused to
allow the CAG (Comptroller and Auditor General of India) the federal body that would scrutinize
spending made by the company during 2008-09 and 2011-2012 in the block. The Petroleum
Secretary, G.C. Chaturvedi at a meeting in the Prime Ministers Office informed Pulok
Chatterjee, the Principal Secretary to the Prime Minister about the issues related to KG-D6
fields and the production fall in the KG-DWN-98/3 Block by 26 mcmd (million cubic metres per
day), which was less than half of the target investments approved by the Government.
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Japans biggest Auto maker Toyota Moto Corps on 10 October 2012 decided to call back more
than 7.4 million vehicles globally, to rectify the faulty Power Window Switches, having a
potential of fire hazards. The recall will hardly take 45 minutes time in replacement of the
malfunctioning switch of the power window on drivers side and is going to affect the cars in
US, Europe and China.
OIL INDIA AND INDIAN OIL, TOGETHER BOUGHT 30% STAKE IN CARRIZO
SHALE ASSETS
Public sector companies Oil India Ltd and Indian Oil Corporation Ltd on 4 October 2012
announced acquisition of 30 per cent stake in Houston-based Carrizo Oil & Gas Inc's liquid rich
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shale assets in Colorado. Both the companies together are going to invest $82.5 million that
includes a straight cash payment of $41.25 million. Remaining $41.25 million will be paid based
on future drilling and development costs. OIL India will have 20 per cent stake, while Indian Oil
Corporation would have 10 per cent stake.
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The Chairperson and Managing Director of Jindal Steel and Power Ltd (JSPL), Naveen Jindal was
placed at top in the Executive Pay Chart of the listed companies for the fiscal year 2011-2012.
He topped the chart for second time in a row with a package of 73.42 crore with a growth of
over 6 crore to that of his last years package.
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SUPREME COURT ASKED ESSAR OIL TO PAY THE SALES TAX DUES IN
PHASES
Supreme Court passed a judgment on 13 September 2012 for Gujarat Sales Tax case allowing
Essar Oil to pay back the sales tax dues in phases. The dues amount of Rs 5,165 crore can be
paid back in eight different installments of two years beginning from 17 January 2012. Supreme
Court also dismissed the demand of Rs 1800 crore interest made by the Government of Gujarat.
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will operate as a subsidiary named Infosys Lodestone in Europe. Lodestone is a key player in
the SAP domain and has in-depth experience of transformational change.
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Bharat Electronics Limited (BEL), the defense public sector unit of India and French security
Solutions Company. Thales announced a joint venture on 5 September 2012 to manufacture
radars for civilian and defence purposes. The operations related to the processing of the
manufacturing process will begin after one and a half year. Following the regulations in India for
a foreign company holding shares in the Indian Defense sector, Thales will be able to hold a 26
percent of the equity in total, whereas rest of the 74 percent will remain with BEL. This joint
venture will also provide BEL a chance to be a part of Thales Global Supply Chain.
JINDAL STEEL & POWER ACQUIRED CANADIAN FIRM CIC FOR RS 650 CR
Jindal Steel and Power Limited (JSPL) on September 5, 2012 bought CIC Energy Corp of Canada
for Rs 650 crore. CIC has coal mines in Botswana, Africa, with reserves of six billion tonnes. The
deal was concluded through Jindal BVI Ltd (JBVI), a subsidiary of Jindal Steel and Power Limited.
JBVI and CIC now be merged and delisted from the Canadian stock exchange in a months time.
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on the ten-member panel comprises former, Biocon CMD Kiran Mazumdar Shaw, CAG V N Kaul,
NGO activist Rohini Nilekani and former RBI Deputy Governor Rakesh Mohan.
THE BHILAI STEEL PLANT WON THE PRIME MINISTERS TROPHY FOR THE
10TH TIME
The Bhilai Steel Plant, on 24 August 2012 won the prestigious Prime Minister's Trophy for the
10th time. Bhilai Steel plant is the flagship unit of Indias largest public sector steel maker, Steel
Authority of India Ltd (SAIL). The plant, which is based in Chhattisgarh's Durg district, is some 30
km west of capital Raipur. It has an annual production capacity of over 5 million tonnes.
IDBI BANK LTD ENTERED INTO A MOU WITH SMERA TO EVALUATE ITS
MSME
IDBI Bank Ltd entered into a Memorandum of Understanding (MoU) with SME Rating Agency of
India Ltd (SMERA) to evaluate its existing as well as potential MSME (Micro, Small and Medium
Enterprise) clients. This will make it easier for IDBI to get information and expedite the credit
decision in lending to the prospective MSME customers. IDBI has agreements with rating
agencies such as CARE and Crisil to rate its prospective MSME clients. IDBI Banks outstanding
MSME lending was estimated at17000 crore rupees on 31March 2012. The net non performing
assets (NPAs) for the segment (MSME) increased to 2.29 per cent in financial year 2012 as
compared with 1.83 per cent in financial year 2011.
HSBC SOLD ITS ENTIRE STAKE IN FEDERAL BANK FOR 341 CRORE RUPEES
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Banking major HSBC on 28 August 2012 sold its entire stake in Kerala-based private sector
lender Federal Bank. HSBC sold its 5 percent stake in Federal Bank through open market
transaction for 341 crore rupees. HSBC was holding 85.16 lakh shares of Federal Bank, which it
sold on an average price of 401.04 rupees.
GAIL SIGNED PACT WITH FRENCH ENERGY GIANT GDF SUEZ TO IMPORT
LNG
State-owned gas utility GAIL India on 26 August 2012 signed a contract with French energy
giant GDF Suez to import 0.8 million tonnes of liquefied natural gas (LNG) from 2013 to 2014.
GDF would supply six cargoes of LNG in 2013 beginning January and an equal number in 2014. It
will supply one cargo once in two months, most probably from its Yemen portfolio. As per the
agreement, GDF will supply six cargoes of LNG in 2013 and an equal number in 2014. The LNG
could be imported at Dahej terminal of Petronet LNG Ltd in Gujarat or Kochi import facility in
Kerala. The gas in its liquid form could be shipped to the Dabhol terminal in Maharashtra. GDF
holds a 10-per cent stake in Petronet LNG Ltd. It had in November 2011 agreed to supply 9
cargoes of LNG to Petronet LNG Ltd. GAIL owns and operates over 9,500-km of natural gas
pipeline network in India and can manage 175 mmscmd of gas.
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Hoppr on 9 August 2012 launched its service in Chennai to allow users explore rewards and
offers available with brands and merchants in a locality. Hoppr is a brand of Y2CF Digital Media,
which is funded by Bharti SoftBank. Y2CF has tied up with six mobile service providers - Airtel,
Aircel, Idea, Reliance, Tata Docomo and Vodafone to provide the Hoppr service.
JET AIRWAYS TIED UP WITH HDFC BANK AND LAUNCHED CREDIT CARDS
The Jet Airways tied up with the HDFC bank in order to launch the Jet Privilege-HDFC Bank
Credit. This is a range of credit cards which will offer benefits and rewards in the form of JP
Miles. This is being regarded as another unique travel option aimed at making air travel for
economical. The credit card would be offered in world, platinum and titanium variants on the
Master card platform.
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German Logistics Company Deutsche Bahn (DB) PV plant on 3 August 2012 tied up with Indian
company Moser Baer to build a solar park that will generate electricity. Moser Baer Clean
Energy had already set up a photovoltaic plant on a railway-owned surface in Wittenberge,
Germany. The solar power is likely to be located on former 8-hectare dump site. It has the
power generation capacity of 3.92 megawatts-peaks (MWp) that will help to meet the needs of
900 households annually.
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Emmar Group includes Emaar Properties and Emaar MGF. Emaar Properties and Andhra
Pradesh Industrial Infrastructure Corporation (APIIC) were jointly working for Emaar MGF
Township Project. The former gained the price of Rs. 167 crores and latter suffered the loss of
Rs. 43.5 crore.CBI investigated that Emaar MGF had irregularities in land transfer and sale of
properties in the township project at Gachibowli.
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commit suicide. The Court also issued a show cause notice to Irom Sharmila after she refused to
plead guilty. She appeared before the court under Indian Penal Code 309 (attempt to commit
suicide) for fasting at Jantar Mantar in Delhi.
Irom Sharmila Chanu
Irom Sharmila had been fasting for more than 12 years for repealing of the Armed Forces
Special Powers Act 1958, AFSPA. Sharmila began her fast till death after ten persons, including a
boy who received the National Bravery Award, were shot dead in an alleged encounter with
Assam Rifles personnel at Malom near Imphal Airport on 2 November 2000.
Armed Forces Special Powers Act, AFSPA
Violence became the way of life in north-eastern States of India. State administration became
incapable to maintain its internal disturbance. Armed Forces (Assam and Manipur) Special
Powers Ordinance was promulgated by the President on 22 May 1958. In which some special
powers have been given to the members of the armed forces in disturbed areas in the State of
Assam and Union Territory of Manipur. Later the Ordinance was replaced by the armed Forces
Special Powers Bill.
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sanctioned on the case-to-case basis after these proposals are submitted by the state notified
implementing agencies according to the guidelines of this scheme.
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UPA chairperson Sonia Gandhi on 6 February 2013 launched a new health initiative called
Rashtriya Bal Sawsthya Karyakram at Palghar town in Thane district of Maharashtra. The
Rashtriya Bal Swasthya Karyakram is a part of the National Rural Health Mission of the Union
Ministry of Health and Family Welfare.
The Main Features of Rashtriya Bal Swasthya Karyakram are as following:
The Rashtriya Bal Swasthya Karyakram is aimed at improving overall quality of life of
children through early detection of birth defects, diseases and deficiencies, which are
among key factors for child mortality.
The new initiative would assure a package of health services for all children up to 18
years of age. The programme will also prove economical for poor and marginalized.
The services will be provided through dedicated mobile health teams placed in every
block. The scheme, which will be implemented in a phased manner, is expected to
benefit approximately 27 crore children across the country.
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Road Travelled & way forward was the topic for community radio conference and it lasted for a
period of 30 minutes from 4 pm to 4:30 pm.
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remained the inhabitants of the Andamans for thousands of years. Jarawa ancestors were
thought to be the first successful migration of humans from Africa.
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foreigners as well as the gay couples would not be eligible for having the Indian surrogate. Only
those foreign man and woman, who are married for at least two years, would be granted the
visas.
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The President of India Pranab Mukherjee in second week of January gave his assent to the
Prevention of Money Laundering (Amendment) Bill, the Enforcement of Security Interest and
Recovery of Debts Laws (Amendment) Bill, 2012 and Banking Laws (Amendment) Bill, 2012 to
make it a law of the land. The Parliament in its winter session approved the Prevention of
Money Laundering (Amendment) Bill 2012 that needed to enlarge its definition of money
laundering offences so that it can curb the practice of funding the terrorists operations. The Bill
sought removal of 5 lakh rupees as fine in existence under the act and proposed a provision of
taking away of the profits of the crime even under situation, where the conviction was not
proved but the offence of money laundering happened and the property in question that is
involved in the offence. The Bill was passed by the Lok Sabha during the winter session on 29
November 2012.
Banking Laws (Amendment) Bill, 2012 would be shaping the way ahead to corporate houses to
enter the field of Banking this is one of the key reform legislation. The Banking Bill was passed
in the Indian Parliament once the government dropped its clause of controversies that allowed
banks to trade in commodity in future. The Banking Laws (Amendment) Bill 2011 was
introduced and passed by both the Houses of Indian Parliament during its winter session of
2012 for amendment of the Banking Regulation Act, 1949, the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970/1980.
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Janashree Bima Yojana (JBY) was launched in August 2000 and it provides life insurance
protection to people who are below poverty line or marginally above poverty line. Persons aged
between 18 years and 59 years and who are members of the identified 45 occupational groups
are eligible to be covered under the scheme. The premium for the JBY is 200 rupees per
member. While 50 per cent premium under the scheme is met out of Social Security Fund
maintained by LIC, the balance 50 per cent premium is borne by the member and/or nodal
agency.
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First vaccine of the world was developed against Japanese Encephalitis (JE) using the Indian
strain of virus. National Institute of Virology (NIV), Pune offered the strain of JE virus to Bharat
Biotech. This JE virus was gathered from Kolar in Karnataka. Bharat Biotech had submitted
results from final human trials to Drug Controller General of India (DCGI) so that it could have
marketing clearance.
What is Japanese Encephalitis (JE)?
JE is the mosquito-borne virus which mainly affects the CNS or Central Nervous System. It can
be transmitted to human beings if infected mosquito bites. Mosquitoes in turn are affected
when they feed on domestic pigs that carry this virus.
Schemes
January
February
March
April
May
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Immunisation
July
August
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November
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Jammu and an early start of work was emphasized by him. He stressed upon the need for fast
tracking the project to ensure its timely completion.
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GAAR (General Anti-Avoidance Rules), which was proposed in 2012-13 budgets with a view to
preventing tax evasion, generated sharp reactions from foreign as well as domestic investors
who feared that ungoverned powers to taxmen is going to result in harassment of investors.
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that the unregistered telemarketers are not able to send more than 200 SMSs per hour, from
their phone or computer.
About TRAI
The Telecom Regulatory Authority of India (TRAI) is an independent regulator of the
telecommunications business in India. It came into existence by the Act of the Parliament on 20
February 1997 and the act was named as Telecom Regulatory Authority of India Act 1997. Its
constitution came into effect in 1994, when the Government constituted the National Telecom
Policy (NTP) to attract domestic and Foreign Direct Investment in the telecommunication
sector. The flooding of investors from domestic market and the international market players
resulted in the development of the regulatory body. As a result of this demand, the formation
of the Telecom Regulatory Body came up.
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The Cabinet Reshuffle that took place on 28 October 2012 witnessed reshuffling of 5 ministers
along with 17 new faces, which were inducted to take on the charge. All these 22 ministers
would take the charge of their new offices, on 29 October 2012. Few of the most important
names in this cabinet reshuffle were the lifting of the former Law Minister Salman Khurshid to
External Affairs Minister of India, and Ajay Maken, who has been promoted to Cabinet Rank
and got the Ministry of Housing & Urban Poverty Alleviation.
List of total Ministers in different segment:
Cabinet Ministers- 17
Ministers of State with Independent Charge- 7
Minister of State- 20
Portfolios of the newly-elected and reshuffled ministers are mentioned below:
List with portfolio allotted of the Cabinet Ministers:
M. Veerappa Moily- Petroleum & Natural Gas
S. Jaipal Reddy- Science & Technology and Earth Science
Kamal Nath- Urban Development & Parliamentary Affairs
Vayalar Ravi- Overseas Indian Affairs
Kapil Sibal- Communications & Information Technology
C.P. Joshi- Road Transport & Highways
Kumari Selja- Social Justice & Empowerment
Pawan Kumar Bansal- Railways
Salman Khursheed- External Affairs
Jairam Ramesh- Rural Development
K. Rahman Khan- Minority Affairs
Dinsha J. Patel- Mines
Ajay Maken- Housing & Urban Poverty Alleviation
M.M. Pallam Raju- Human Resource Development
Ashwani Kumar- Law & Justice
Harish Rawat- Water Resources
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Himachal Pradesh and the ban would continue up to 5:30 pm on 17 December 2012 the last
day of poll in Gujarat.
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than two years, but which may extend to seven years, and a fine between 100000
Rupees to 500000 Rupees for second conviction.
Police officers not below the rank of Inspectors authorized to carry out search and
seizure, in addition to State and Central Government officers authorized by the State or
Central Government.
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Universities (AIU). Association of Indian Universities has been organising the Rohinton Baria
Cricket Trophy, the Inter University Hockey Tournament and other events for promotion of
sports in the Universities throughout the country.
INDIA AND WORLD BANK SIGNED 500 MILLION DOLLAR DEAL FOR
SHIKSHA ABHYAN
World Bank and the Government of India on 5 October 2012 signed a loan agreement of 500
Million US Dollar for Secondary Education Project named Rashtriya Madhyamik Shiksha Abhiyan
(RMSA). The project is going to help in achieving increased and good quality secondary
education as directed in the framework of Rashtriya Madhyamik Shiksha Abhiyan, the flagship
government of India program for gradual Universalisation of secondary education. The
agreement was signed by Prabodh Saxena, the joint secretary, department of economic affairs
and Onno Ruhl, the country director of World Bank.
What is Rashtriya Madhyamik Shiksha Abhiyan?
Like Sarva Shiksha Abhiyan (SSA), the Department of School Education and Literacy of the
Ministry of Human Resource Development (MHRD) under Government of India is launching
Rastriya Madhyamic Shiksha Abhiyan (RMSA) with an aim to achieve Universal Access and
Quality Secondary Education.
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The Supreme Court of India on 3 October 2012 directed the Union government of India and
state governments to provide basic infrastructure, including drinking water and toilets, in all
schools within six months. A bench headed by justice K S Radhakrishnan fixed the time limit and
directed the governments to take steps to provide the basic facilities in schools across the
country.
The Supreme Court bench noted that all its previous directions pertaining to providing
infrastructure should be implemented within the time-frame fixed by it. On 18 October 2011,
the apex court had directed all states and union territories to build toilets, particularly for girls,
in all government schools. The court passed the order on a PIL seeking its direction to the
Centre and state governments to provide basic facilities of drinking water and toilets in schools.
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Nirmal Verma, the former navy chief on 27 September 2012 was appointed as Indias high
commissioner to Canada. His appointment to the post happened on the recommendation of
the PMO to the president, who cleared his name for the vacancy.
Admiral Verma, will soon leave for Ottawa to join the office because Canadian Prime Minister
Stephen Harpers visit is scheduled to India in the near future.
UNION CABINET OF INDIA APPROVED THE DEMANDS OF EXSERVICEMEN FOR ONE RANK ONE PENSION
The Union Cabinet of India, under the Chairmanship of Prime Minister Manmohan Singh on 24
September 2012 approved the long awaited demand for One Rank One Pension (OROP) and
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other benefits of ex-servicemen. The cabinet also gave a nod for enhancement of pension for
family and dual family pension. The approved demand will cost the government about Rs 2300
crore per year. The cabinet also approved family pension grants for mentally or physically
challenged children of personnel from armed forces.
Issue
The ex-servicemen association and defence forces demanded payment of uniform pension to
the defence personnel retiring at same rank with same length of service period irrespective of
their date of retirement. The OROP also demanded passing of future enhancements to the past
pensioners.
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also approved 846 crore rupees to Karnataka, Maharashtra, Gujarat and Haryana under the
National Rural Drinking Water Programme, and relaxed some norms.
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include chocolate, chocolate products, candies, confectionery, food preparations with milk or
milk solids as ingredient. The prohibition on import of milk and its products from China was
imposed on 24 September, 2008 because the milk products imported from China contained
melamine. Melamine is a banned substance injurious to health.
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court in February 2012, had submitted the guidelines before a bench of Acting Chief Justice A K
Sikri and Justice Rajiv Sahai Endlaw. The Committee set the guidelines that the media shall
ensure that a child's identity is not revealed in any manner, including but not limited to,
disclosure of personal information, photographs, school or locality and information of the
family including their residential or official address.
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The Union Government on 3 August 2012 approved the setting up of Central Academy for
Police Training (CAPT) in Bhopal at a cost of 492 crore rupees. The government also approved
the creation of one post of Director, CAPT in the rank of Inspector General of Police. A total of
492 crore rupees has been allocated by the government under the 12th Plan for the CAPT. The
proposed academy will also train trainers for police officials directly recruited by the states
through their public service commission. The Madhya Pradesh government will provide about
400 acres of land in Bhopal for setting up the academy.
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the president mentioned that the completion of the pipeline is in the interests of peace,
security and progress of the two countries and is supposed to consolidate the economic,
political and security ties of the two nations.
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Indian Affairs and Paulo Sacadura Cabral Portas, Minister of State of Foreign Affairs of Portugal.
The bilateral social security agreement would help in taking advantage of the emerging
employment opportunities and strengthening the trade and investments between the two
countries. At present about 75000 Indians are living in Portugal and it includes self-employed
people as well as working professionals.
INDIA AND USA INAUGURATED THE FIRST TRIANGULAR INDIA-USAFRICA PARTNERSHIP AT HYDERABAD
India and the United States inaugurated the first triangular INDIA-US-AFRICA PARTNERSHIP in
agricultural training at the National Institute of Agricultural Extension Management (MANAGE),
Hyderabad, on 6 January 2013 for 30 trainees from three African countries Kenya, Liberia and
Malawi. The three-year triangular partnership program aims to improve agricultural
productivity, strengthen agricultural value chains, and support market institutions in Kenya,
Liberia, and Malawi. Supported by the U.S. Government through the United States Agency for
International Development (USAID), by the Ministry of External Affairs and the Ministry of
Agriculture of India, and implemented by two of Indias leading agricultural training institutes National Institute of Agricultural Extension Management (MANAGE), Hyderabad, and the
Chaudhary Charan Singh National Institute of Agricultural Marketing (NIAM), Jaipur, the
program will train 180 mid-level African Government and private sector agriculture
professionals from Kenya, Malawi, and Liberia in agricultural extension practices, agri-business,
and agricultural marketing.
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Nicos Anastasiades, the centre-right DISY (the Democratic Rally) party leader won the
presidential elections of Cyprus on 24 February 2013 with 57.5 percent votes. The term of his
office starts from 28 February 2013. Nicos Anastasiades had a very easy-going victory over
Communist-backed Stavros Malas who secured 42.5 percent votes in the election.
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and the two countries decided to work for and support Strategic Oil Reserve in India. The
meeting was co-chaired by the Union Minister of Commerce, Industry and Textiles, Anand
Sharma and Sheikh Hamid Bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince
Court.
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India and France on 14 February 2013 agreed to strengthen counter terrorism and intelligence
cooperation between the two countries during the visit of French President Francois Holllande
to India. Both nations exchanged views on a number of bi-lateral, regional and multilateral
issues. India and France also reviewed progress on the Jaitapur Nuclear Power Project and
reiterated our commitment to its early implementation as soon as the commercial and
technical negotiations, which have made good progress, are completed.
Both the nations also concluded negotiations on the short range surface to Air missile to be coproduced in India. They also agreed on the need to reinvigorate economic engagement
between the two countries. Moreover, they had in-depth discussion on the defence
cooperation issue including submarines and missiles.
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should be destroyed and at the same time, no country of the world should posses any type of
nuclear arm.
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cooperation of the labour market expansion in Austria, the country that is a home for more
than 17000 Indian professionals.
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kinds of restrictions, while violence against journalists was not punished and the regions like
Kashmir and Chhattisgarh are getting increasingly isolated.
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As per the Czech Republic Presidential election results declared on 25 January 2013, Milos
Zeman won and thus became the countrys first elected President through direct elections. He
won 55 percent as compared with 45 percent of Karel Schwarzenberg.
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thrust areas and opportunities for micro, small and medium enterprises in Vietnam.The MoU
was signed during the 4 day state visit of Vice President Hamid Ansari to Vietnam.
BEIJING WAS 14TH SAFEST CITY IN CHINA, LHASA WAS THE 1ST : CHINA
ACADEMY OF SOCIAL SCIENCES
A survey conducted by China Academy of Social Sciences (CASS) which is a government owned
body, revealed that the capital of China, Beijing is less safer than other cities of the country. The
safest place is the capital of Tibet, Lhasa, followed by Shanghai.
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President Francois Bozize sought French and American help against the insurgents, who have
been making rapid territorial gains. France, however, rejected any intervention.
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CHINA HELD LARGEST AIR FORCE DRILL INVOLVING 100 FIGHTER PLANES
China held one of its largest- ever airforce drill involving about 100 multi-types fighter planes,
amid heightened tensions with Japan over territorial dispute in the East China Sea. The air
combat exercises were held under information conditions at an airport in southwest China for
11 days in the month of November 2012 which involved over 100 fighters of over 10 different
types and support staff.
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With time 5 more South Asian countries joined the group namely Brunei Darussalam joined on
7 January 1984, Viet Nam on 28 July 1995, Lao PDR and Myanmar on 23 July 1997, and
Cambodia on 30 April 1999. Today, ASEAN is a 10-member group by now. The group was
formed with a basic idea of promoting social progress, economic growth and cultural
development between the member nations and talk on the differences in a peaceful manner.
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The decade old ban on most of the imports from Myanmar in the third week of November was
scrapped by the United States. The step of scrapping the bans on import of most of the
products from Myanmar came ahead of the landmark visit of the U.S. President Barack Obama
scheduled on 20 November 2012 to the long isolated nation. With this visit to Myanmar,
Obama would turn-up to be the first sitting President of U.S. to visit the country.
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Resource-poor Japan is on the hunt for cheaper energy, with the situation further worsened by
the shuttering of all but two of its nuclear reactors amid public distrust following tsunamisparked meltdowns at Fukushima.
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at the Afghan Mission in New York and was attended by Joint Secretary Y K Sinha and Joint
Secretary (America) Jawed Ashraf from the Indian side, Afghan Deputy Foreign Minister Jawed
Ludin, US Special Representative for Afghanistan and Pakistan Ambassador Marc Grossman and
Assistant Secretary for South and Central Asian Affairs Robert Blake.
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INDIA AND SAUDI ARABIA HELD THEIR FIRST TALK ON DEFENCE TIES
The Joint Committee on defence cooperation from Saudi Arabia and India met for creation of
defence ties on 11 September 2012. Decisions for this establishment of joint committees was
decided during the visit of Indian defence minister A.K. Antony to Saudi Arabia and his meet
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with the Crown Prince and defence minister of Saudi Salman bin Abdul Aziz Al Saud in February
2012.
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agreed to advance their ties to a strategic partnership in order to impart greater strength to the
relationship through all-round co-operation and engagement. The President of the Republic of
Tajikistan, Mr. Emomali Rahmon, was on a State Visit to India from 1 to 4 September 2012 at
the invitation of the President of the Republic of India. This was the fifth visit to India by
President Mr. Emomali Rahmon.
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shield from being extradited from Britain to Sweden, where he is facing charges of rape and
sexual molestation.
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India signed Tax Information Exchange Agreement (TIEA) with Monaco on 31 July 2012 in New
Delhi. It will allow the two countries to check tax evasion and money laundering. This was the
ninth TIEA signed by India.
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NEWS AT GLANCE
INAUGURAL LAHORE LITERARY FESTIVAL (LLF) 2013 CONCLUDED ON A
HIGH NOTE
The two-day inaugural Lahore Literary Festival (LLF) 2013 which was aimed to revive creativity
and art of Lahore, the cultural capital of Pakistan, concluded on 24 February 2013. The LLF 2013
ended with the discussions on literature, celebration of the international and local writers as
well as social discourse of past, present and future of the literature. Chairperson of the LLF's
advisory board declared that the first-ever LLF was meant to reclaim and celebrate essence of
Pakistani culture. In the event, people got an opportunity to meet, hear and interact with some
of the eminent journalists, artists, intellectuals, authors and many more, at both local and
global level. Indian authors who took part in the LLF 2013 were Pran Nevile, Urvashi Butalia and
Jeet Thayil.
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towards China. The rally will end on 5 March 2013 at Kunming, China. A total of eighty
participants from India, China, Bangladesh and Myanmar in 20 SUVs will rally on the ancient
trade route that have remained closed for more than six decades, post World War II. Success of
the rally may help in redefining the ancient trade route and bring out the trade potential of the
region.
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Tzipi Livni, at Jerusalem. Under the deal agreement, Livni will serve as the new Justice Minister
and will oversee the peace efforts with the Palestinians.
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Association). President Pranab Mukherjee while giving away the award announced that SEWA
was a vehicle of self employment and self reliance for the Indian women, while at the same
time being synonymous with the rural inclusiveness.
INDIAS EXTERNAL AFFAIRS MINISTER VISITED BANGLADESH TO COCHAIR THE 2ND MEETING OF JCC
External Affairs Minister of India, Salman Khurshid paid an official visit to Bangladesh on 16-17
February 2013 to co-chair the second meeting of the INDIA-BANGLADESH JOINT
CONSULTATIVE COMMISSION (JCC). Both nations reviewed the progress of initiatives taken
under the Framework Agreement since the last meeting and hold discussions on the entire
gamut of bilateral relations including power, water resources, security, border management,
people-to-people exchanges, trade, connectivity, culture, development cooperation,
environment and education.
The JCC was constituted under the Framework Agreement on Cooperation for Development
signed during the visit of Prime Minister Manmohan Singh to Bangladesh in September 2011.
The first meeting of the JCC was held in New Delhi in May 2012.
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his movie Prince Avalanche. The movie, the only comedy movie among the 19 contenders at
the festival, features Paul Rudd and Emile Hirsch in the lead roles as highway maintenance
workers in Texas at a crossroads in their lives.
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designation. Mohan Parasaran will serve as the Solicitor General of India for a term of three
years. The Appointments Committee of the Cabinet (ACC) cleared his name for Solicitor General
of India. Rohinton Nariman resigned from his post in Early February 2013. Mohan Parasaran is a
senior advocate of the Supreme Court. He was appointed by first UPA Government as
Additional Solicitor General (ASG) in July 2004.
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Chakravarty will retain his position till 31 December 2017. Chakravarty also served in Madhya
Pradesh government. He had also remained member-secretary of Indira Gandhi National
Centre for the Arts and director general of the National Museum, New Delhi apart from vice
chancellor of the National Museum Institute.
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with an income of less than 10 lakh rupees would get tax incentives for investing up to 50000
rupees in the stock market. As per the notification issued by the Securities and Exchange Board
of India on the scheme, there would be a lock-in period of one year on investments made under
the scheme.
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Annette Schavan the Education Minister of Germany on 6 February 2013 was stripped of her
doctorate degree by the committee of academics at Duesseldorfs Heinrich Heine University.
The University took the action after the committee considered the allegations of plagiarism
done by Schavan in different parts of the thesis submitted to the University. The allegations
were made against the Education Minister by an anonymous blogger in 2012 claiming the
Annette Schavan failed to cite the passages properly of the thesis in philosophy submitted to
the University in 1980. Before this, Karl-Theodor zu Guttenberg, the former Defence Minister of
Germany resigned from his office in 2011 after it was confirmed that a major portion of
doctoral thesis submitted by him to avail the doctorate was copied.
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India in the junk grade in case the economic slowdown and fundamentals doesnt improve in
next few months.
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wheeler segment. Renault Duster grabbed three awards in all and these were SUV of the year
2013, viewers choice car of the year 2013 and overall Autocar car of the year 2013.
Winners
Best Film
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Best Director
Gangs Of Wasseypur
Katrina Kaif
Salman Khan
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Best Actor In A Supporting Role (Female) Dolly Ahluwalia for Vicky Donor
Best Actor in
(Male/Female)
Negative
Best Actor in
(Male/Female)
Comic
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Best Music
Best Story
Best Lyrics
Best Dialogue
Best Screenplay
Best Editing
Best Choreography
Best Cinematography
Best Action
Best Costume
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Delhi Safari
Best Marketing
Barfi
Amitabh Bachchan
Yash Chopra
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GOLDEN GLOBE AWARDS 2013: ARGO WON BEST PICTURE AND BEST
DIRECTOR AWARDS
In the prestigious Golden Globe Awards 2013, the hostage-crisis movie Argo thrashed Lincoln to
bag best picture as well as best director awards on 13 January 2013. Les Miserables, on the
other hand won the awards in best musical or comedy category with the actors Anne Hathaway
and Hugh Jackman winning one trophy each.
The award-winning movie Argo is actually inspired by 1979 crisis US diplomats in Iran. In the
category of Best Drama, other nominees were Django Unchained, Zero Dark Thirty as well as
Life of Pi.
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SRK, but the Bollywood King ranked high because of his earning, most of which came from the
brand endorsements.
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successful in mopping 64123 crore rupees during the Five Year Plan, which was 192 percent of
the targeted resource mobilization for the 11th Plan.
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Bhanu Athaiya, the first Indian to win an Oscar for costume design in the
movie GANDHI decided to return her award to the American Academy of Motion Picture Arts
and Sciences (AMPAS) in December 2012. Bhanu Athaiya fears that she might lose her trophy as
the government might not be able to protect it.
Bhanu Athaiya, 85 blamed that the central government had neglected her work and
contributions. She also blamed that there was no one or no museum that could protect these
things.
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Singh. Oath of office and secrecy to the chief parliamentary secretaries was administered by the
Chief Minister.
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the honour. The award carries a cash prize of 7 lakh rupees, a citation and a bronze statuette of
Godess Saraswati.
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Intelligence Bureau director. Appointments Committee of the Cabinet (ACC) cleared Alok Joshis
name as the RAW chief to succeed Sajeev Tripathi, the 1973-batch UP cadre IPS officer.
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Every year, Indira Gandhi Prize for Peace, Disarmament and Development is awarded to person
or an organisation that works towards enlargement of scope of freedom as well as enrichment
of human spirit. The award is conferred upon the person or an organisation irrespective of race,
religion, nationality or other aspects. It consist of award worth 2.5 million Rupees as well as
trophy alongwith citation.
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Afghani President held delegate level bilateral discussions on various regional and international
issues that are relevant for both the nations with the Prime Minister of India.
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The report on Global Hunger Index for seventh year was released on 11 October 2012 by the
International Food Policy Research Institute (IFPRI), Welthungerhilfe, and Concern Worldwide.
The basic theme of the report for the 2012 Global Hunger Index -- The Challenge of Hunger:
Ensuring Sustainable Food Security under Land, Water, and Energy Stresses. IFPRI that
calculated the global hunger Index analysed the measures based upon multidimensional angles.
The published report have shown a proportional growth in hunger reduction of people
worldwide but recorded the progress speed was tragically slow and alarming. The report in its
findings recorded twenty countries across the world mainly from South Asia and Sub-Saharan
Africa to be highly alarming and have highest level of hunger, and showcased the sufferings of
millions of poor.
ROBERT LEFKOWITZ AND BRIAN KOBILKA WON NOBEL PRIZE 2012 FOR
CHEMISTRY
Robert Lefkowitz (69) and Brian Kobilka (57), the two Americans won the Nobel Prize 2012 for
Chemistry on 10 October 2012. They won the award for their study and research on Protein
Receptors, which allows the body to respond the signals from outside world. The study is a key
and would pave the path for developing better drugs to different ailments. Lefkowitz and
Kobilka from Duke University Medical Center in Durham, North Carolina and Stanford University
School of Medicine in Palo Alto, California respectively will be sharing the prize amount of 8
million-krona ($1.2 million).
SERGE HAROCHE AND DAVID WINELAND WON NOBEL PRIZE 2012 FOR
PHYSICS
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Serge Haroche and David Wineland of France and US respectively, won the Nobel Physics Prize
on 9 October 2012. They received Nobel for their work on quantum physics, which would open
a gate for supercomputers in future. The two physics have developed the technology for
examining the intimate relationship between matter and light.
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and Development Organisation Hyderabad. She is the first woman scientist to head a missile
project in India.
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The fellowship will offer a sum of Rs 20 lakh per year for continuous 5 years to scientists who
will guide students and publish research papers. A scientist who has won the Shanti Swarup
Bhatnagar Award is eligible for the fellowship program.
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pre-decided target after taking a flight of 20 minute at an altitude of about 800 kilometer in the
atmosphere at a roasting temperature of about 3000C. The support of Micro Navigation
System (MINGS) along with the Ring Laser Gyro based Inertial Navigation System (RINS)
ensured the two digit perfection in making the missile reach its target.
The 20 meter long, 1.5 meter broad and 17 ton in weight, is capable of carrying about 1000
kilogram of explosives along with it. Light in weight, this missile is fitted with two stage solid
propulsion with a payload for re-entry into the heat shield. One of its kinds, Agni-IV Missile
Indias first indigenously developed ballistic missile is embedded with 5th Generation on Board
Computer state-of-the-art Avionics and a finely distributed architecture, which allows
correction and guidance during in-flight disturbances.
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Bhabani Bhattacharya: So Many Hungers, Music for Mohini, He Who Rides Tiger.
Mrs. Annie Besant: Wake Up India, The Theosophy, Death and After, Reincarnation etc
Bankim Chandra Chatterjee: Anandmath, Kapal Kundala, Durgesh Nandini, Vish Vriksha,
Chandra Shekhar.
B.R. Nanda: In Search of Gandhi: Essays & Reflections
Bill Gates: Business, The speed of thought, The Road Ahead
Bill Clinton: My Life
Albert Camus: The Plague, The Rebel
Miguel De Cervantes: Don Quixote
Anton Chekov: The Cherry Orchard, The Three Sisters
Christopher Paolini: Brisingr
Colleen McCullough: Thorn Birds
Chitra Mudgal: The Crusade
Christopher Wakling: Beneath the DiamondSky
Clarence Thomas: My Grand Fathers Son
Chandra Shekhar: Dynamics of Social Change
Jim Corbett: Man Eaters of Kumaon
Charles Darwin: The Origin of Species, Descent of man.
Conan Doyle: Adventures of Sherlock Holmes
Alexandre Dumas: Three Musketeers
Dostoevsky: Crime and Punishment
John Dryden: All for Love, Absalom and Achitophe
Dadabhai Naoroji: Poverty and Un-British Rule in India
Dayananda Swami: Satyartha Prakash
Dinabandhu Mitra: Neel Darpan
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COMPUTER KNOWLEDGE
INTRODUCTION OF COMPUTER
As per Collin's English dictionary computer is "a device, usually electronic, that processes data
according to a set instructions".
In other words, computer is an electronic device, which accepts information in the digitalized
data form and process it for some result based on a program or sequence of instructions on
how the data is to be processed".
CHARACTERISTICS OF COMPUTER
Automatic: The computers are automatic machines as they work normally without any human
support. However, computers being machines cannot start themselves.
Speed: It is one of the fastest machines. It calculate/work at a speed which is virtually
impossible for a human being. A powerful computer is capable of performing several billion
airthmetic operations per second.
Accuracy: In addition to speed they are also very accurate. Accuracy is topmost consideration in
installation of computers. Any calculating device is useless if the results are unreliable.
Reliability: The computer systems are particularly adept at repetitive task. They do not take
rest and coffee breaks and they never complain.
Memory Capability: The computer systems have total and instant recall of data and an almost
unlimited capacity to store data.
USES OF A COMPUTER
Business
The computer is now being used in all aspects of business and the economy. It has become one
of the sophisticated tools, which has significantly increased the productivity. Right from the
designing of a product to the sells counters computers are used everywhere. There are various
softwares which are used during the process like, CAD, Tally, busy, spread sheets word
processors etc.
Communication
The modern day communication is entirely based on computers and computer system. From
mobile phones to satellites everything runs on the basis of computers. These days we use emails which are also completely based on computer system. Internet which is a network of
computers around the world has changed the world in a global village.
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HISTORY OF COMPUTERS
The history of the modern computer begins with two separate technologies-automated.
Calculation and programmability-but no single device can be identified as the earliest
computer, partly because of the inconsistent application of that term.
The "castle clock", an astronomical clock invented by Al-Jazari in 1206, is considered to
be the earliest programmable analog computer.
The first calculating machine of sorts was developed by French mathematician, scientist
and philosopher, Blaise Pascal, in 1642.
In the mid-1800s, an English mathematician and logician, George Boole, used the binary
system to invent a new type of mathematics called Boolean logic and Boolean algebra.
The first successful computer was built by an American inventor and businessman,
Herman Hollerith, in 1888. He devised a punched card system, including punching
equipment, for tabulating the results of the United States census.
Vannevar Bush, an American electrical engineer, developed an analog computer in
1930. The device, called a differential analyzer, solved differential equations, deriving its
measurement from the movement of gears and shafts.
The inventor of the program-controlled computer was Konrad Zuse, who built the first
working computer in 1941 and later in 1955 the first computer based on magnetic
storage.
In 1951, the same engineers collaborating with a Hungarian-born American
mathematician, John von Neumann, assembled the Electronic Discrete Variable
Automatic Computer (EDVAC) which strongly influenced later computer designs. The
EDVAC could store more of its programming. In 1951 itself, Echert and Mauchly built a
more advanced computer called Universal Automatic Computer (UNIVAC-I) which later
became the first commercially available computer.
An American engineer, Seymour Cray, made the first fully transistorized computer in
1958. Further miniaturisation became possible when the integrated circuit (or chip) was
developed in the early 1960s.
TYPES OF COMPUTERS
1. Analog Computer
An analog computer is a form of computer, which uses the continuously-changeable
aspects of physical phenomena such as electrical, mechanical, or hydraulic quantities to
model the problem being solved.
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Mechanical analog computers were very important in gun fire control in World War II
and the Korean War; they were made in significant numbers.
Analog computers can have a very wide range of complexity. Slide rules and
nomographs are the simplest, while naval gun fire control computers and large hybrid
digital/analogue computers were among the most complicated.
Running an electronic analog computer, assuming a satisfactory setup, started with the
computer held with some variables fixed at their initial values. Moving a witch released
the holds and permitted the problem to run.
2. Hybrid Computers
The hybrid computers are those that exhibit features of analog computers and digital. The
digital component normally acts as the controller and provides logical operations, while the
analog component normally serves as a solver of differential equations.
In general, analog computers are extraordinarily faster in speed, since they can solve
most complex equations at the rate at which a signal traverses the circuit, which is
generally an" appreciable fraction of the speed of light.
Digital computers can be built to take the solution of equations to almost unlimited
precision, but quite slowly compared to analog computers. Generally, complex
equations are approximated using iterative numerical methods which take huge
numbers of iterations, depending on how good the initiai "guess" at the final value is
and how much precision is desired.
3. Digital Computer
The class of devices that is capable of solving problems by processing information in
discrete form is known as digital computers. It operates on data including magnitudes
letters and symbols that are expressed in binary form is using only the two digits 0 and 1.
CLASSES OF COMPUTERS
1. Personal Computers
Microcomputers or Personal Computers are the most common type of computers in 'existence
today, whether at work in school or on the desk at home. The term "microcomputer" was
introduced with the advent of single chip microprocessors.
A personal computer (PC) is any general-purpose computer whose size, capabilities, and
original sales price make it useful for individuals, and which is intended to be operated
directly by an end user, with no intervening computer operator.
A personal computer may be a desktop computer, a laptop, a tablet PC or a handheld PC
(also called palmtop). The most common microprocessors in personal computers are
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COMPONENTS OF COMPUTER
CENTRAL PROCESSING UNIT
The Central Processing Unit (CPU) or the processor is a computer system that carries out the
instructions of a computer program, and is the primary element carrying out the computer's
functions.
MICROPROCESSOR
A microprocessor integrates most or all of the functions of a computer's central processing unit
(CPU) on a single integrated circuit (IC, or microchip). The first microprocessors emerged in the
early 1970s and were used for electronic calculators, using-binary-coded decimal (BCD)
arithmetic on 4-bit words. Affordable 8-bit microprocessors with 16-bit addressing also led to
the first general purpose micro- computers in the mid- 1970s.
CONTROL UNIT
The control unit administers the computer's various components; it reads and interprets
(decodes) the program instructions, convert them into a series of control signals which make
active other parts of the computer. Control systems in advanced computers may change the
order of some instructions to improve the performance.
MEMORY
Computer data storage, often called storage or memory, refers to computer components,
devices, and recording media that maintain digital data used for computing for some interval of
time. It is one of the fundamental components of all modem computers, and coupled with a
central processing unit (CPU, a processor), implements the basic computer model used since
the 1940s.
RAM
In contemporary usage, memory usually refers to a form of semiconductor storage known as
random-access memory (RAM) and sometimes other forms of fast but temporary storage.
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Similarly, storage today more commonly refers to the mass storage - optical discs, forms of
magnetic storage like hard disk drives, and other types slower than RAM, the terms internal
memory and external memory are also used.
CACHE
Cache is considered as a collection of data, which duplicates original values stored elsewhere
on a computer. There are caches for your CD-ROM, memory caches and hard drive caches. Your
favorite browser even keeps a cache on your hard drive of the most recent websites you've
visited.
THE BUS
The network of wires or pathways through which the CPU is able to send various data values,
instructions, and information to all the devices and components inside your computer as well as
the different peripherals and devices attached is called the Bus.
A computers bus can be divided into two different types comprising Internal and External.
The Internal Bus connects the different components inside the case: The CPU, system memory,
and all other components on the motherboard. Its also referred to as the System Bus.
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The External Bus connects the different external devices, peripherals, expansion slots, I/O ports
and drive connections to the rest of the computer.
COMPUTER HARDWARE
Hardware means the physical components of a computer system, in the form of computer
hardware.
MOTHERBOARD
1. The motherboard is the vital component inside the case. IUs a large rectangular board with
integrated circuitry that connects the rest of the arts of the computer including the CR ,the
RAM, the disk drives (CD, DVD, hard disk, or any others) as well as any peripherals
connected via the ports or the expansion slots.
2. Removable Media Devices
CD (Compact Disc): The most common type of removable media, suitable for music and
data.
CD-ROM Drive: A device used for reading data from a CD.
CD Writer: A device used for both reading and writing data to and from a CD.
DVD (Digital Versatile Disc): A popular type of removable media that is the same
dimensions as a CD but stores up to 12 times as much information. It is the most
common way of transferring digital video, and is popular for data storage.
DVD-ROM Drive: A device used for reading data from a DVD.
DVD Writer: A device used for both reading and writing data to and from a DVD.
DVD-RAM Drive: A device used for rapid writing and reading of data from a special type
of DVD.
Blu- ray Disc: A high-density optical disc format for data and high-definition video. Can
store 70 times as much information as a CD.
BD-ROM Drive: A device used for reading data from a Blu-ray disc.
BD Writer: A device used for both reading and writing data to and from a Blu-ray disc.
HD DVD: A discontinued competitor to the Blu-ray format.
Floppy disk: An outdated storage device consisting of a thin disk of a flexible magnetic
storage medium. Used today mainly for loading RAID drivers.
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Iomega Zip drive: An outdated medium-capacity removable disk storage system, first
introduced by Iomega in 1994.
USB flash drive: A flash memory data storage device integrated with a USB interface,
typically small, light-weight, removable, and rewritable. Capacities vary, from hundreds
of megabytes (in the same ballpark as CDs) to tens of gigabytes (surpassing, at great
expense, Blu-ray discs).
Tape Drive: A device that reads and writes data on a magnetic tape, used for long term
storage and backups.
3. Secondary Storage: Hardware that keeps data inside the computer for later use and
remains persistent even when the computer has no power.
Hard Disk: for medium-term storage of data.
Solid-state drive: A device similar to hard disk, but containing no moving parts and
stores data in a digital format.
RAID Array Controller: A device, which manages several internal or external hard disks
and optionally some peripherals in order to achieve performance or reliability
improvement, is called a RAID array.
4. Sound Card: It enables the computer to output sound to audio devices, as well as accept
input from a microphone. Most modem computers have sound cards built-in to the
motherboard, though it is common for a user to install a separate sound card as an
upgrade.
POINTING DEVICES
Mouse: A pointing device, which detects two dimensional motions relative to its
supporting surface.
Optical Mouse: A newer technology that uses light to track the surface under the mouse
to determine the motion to be translated into cursor movements on the screen.
Trackball: A pointing device consisting of an exposed project ball housed in a socket that
detects rotation about two axes.
DATA STORAGE
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1. Primary Storage: Primary storage (or main memory or internal memory); often referred to
simply as memory, is the only one directly accessible to the CPU.
Historically, early computers used delay lines, Williams tubes, or rotating magnetic
drums as primary storage.
Processor cache is an intermediate stage between ultrafast registers and much slower
main memory. It introduced solely to increase performance of the computer.
Main memory is directly or indirectly connected to the CPU via a memory bus. It is
actually two buses.
2. Secondary Storage: Secondary storage (or external memory) differs from primary storage,
which is not directly accessible by the' CPU. The computer usually uses its input/ output
channels to access secondary storage and transfers the desired data using intermediate
area in primary storage.
Some other examples of secondary storage technologies are flash memory (e.g.,) USB flash
drives or keys), floppy disks, magnetic tape, paper tape, punched cards, standalone RAM
disks, and Iomega Zip drives.
3. Tertiary Storage: Tertiary storage or tertiary memory, a third level of storage. Typically it
involves a robotic mechanism which will mount (insert) and dismount removable mass
storage media into a storage device according to the system's demands; this data is often
copied to secondary storage before use. It is primarily used for archival of rarely accessed
information since it is much slower than secondary storage (e.g.,) 5-60 seconds vs. l-l0
milliseconds). This is primarily useful for extraordinarily large data stores, accessed without
human operators. Typical examples include tape libraries and optical jukeboxes.
Characteristics of Storage
Storage technologies at all levels of the storage hierarchy can be differentiated by evaluating
certain core characteristics as well as measuring characteristics specific to a particular
implementation. These core characteristics are volatility.
1. Volatility
Non-volatile memory: The non volatile will retain the stored information even if it is not
constantly supplied with electric power. It is suitable for long-term storage of
information. Nowadays used for most of secondary, tertiary, and off-line storage. In
1950s and 1960s, it was also used or primary storage, in the form of magnetic core
memory.
Volatile memory: It requires constant power to maintain the stored information. The
fastest memory technologies of today are volatile ones (not a universal rule). Since
primary storage is required to be very fast, it predominantly uses volatile memory.
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2. Differentiation
Dynamic Random Access Memory: The form of volatile memory which also requires the
stored information to be periodically re-read and re-written, or refreshed, otherwise it
would vanish.
Static Memory: A form of volatile memory similar to DRAM with the exception that it
never needs to be refreshed as long as power is applied.
3. Accessibility
Random access: Any location in storage can be accessed at any moment in
approximately the same amount of time. Such characteristic is well suited for primary
and secondary storage.
Sequential access: The access of pieces of information will be in a serial order, one after
the other; therefore the time to access a particular piece of information depends upon
which piece of information was last accessed.
4. Capacity
Raw capacity: The total amount of stored information that a storage device or medium
can hold. It is expressed as a quantity of bits or bytes (e.g. 10.4 megabytes).
Memory storage density: The compactness of stored information. It is the storage
capacity of a medium divided with a unit of Iength, area or volume (e.g. 1.2 megabytes
per square inch).
A printer is a peripheral which produces a hard copy (permanent readable text andlor graphics)
of documents stored in electronic form, usually on physical print media such as paper or
transparent sheet.
Classification
1. Toner-base Printers
A laser printer is a type of computer printer, which rapidly produces high quality text
and graphics on plain paper. As with digital photocopiers and multifunction printers
(MFPs)
Another toner based printer is the LED printer which uses an array of LEDs despite of a
laser to cause toner adhesion to the print drum
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In computing, a scanner is a device, which optically scans images, printed text, handwriting, or
an object, and converts it to a digital image. Common examples found in offices are variations
of the desktop (or flatbed) scanner where the document is placed on a glass window for
scanning. Hand-held scanners, where the device is moved by hand, 3D scanners used for
industrial designing, reverse engineering, test and measurement, orthotics, gaming and other
applications.
1. Rotary scanner: It is used for high speed document scanning, is another type of drum
scanner, using a CCD array instead of a photomultiplier. Other types of scanners are
planetary scanners, which take photographs of books and documents, and 3D scanners, or
producing three-dimensional models of objects.
2. Digital camera scanners: These are based on the concept of reprographic cameras. Due to
increasing resolution and new features such as anti-shake, digital c eras have become an
attractive alternative to regular scanners.
WEBCAM
A webcam is a video capture device connected to a computer 0 computer network, often using
a USB port or, if connected to a network, Ethernet or Wi-Fi.
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APPLICATION SOFTWARES
Computer software is a term primarily used for digitally stored data such as computer programs
and other kinds of information read and written by computers. Application software, also
known as software application, application or app, is computer software designed to help the
user to perform singular or multiple related specific tasks.
Computer software is so called to differentiate it from computer hardware, which
includes the physical interconnections and devices required to store and execute (or
run) the software.
Programs are ordered of instructions for changing the state of the computer in a
particular sequence. It is usually written in high-level programming languages that are
easier and more efficient for humans to use (closer to natural language) than machine
language.
Software is also sometimes used in a more narrow sense, meaning application software
only. Examples include: Application software, such as word processors which perform
productive tasks for users.
Firmware, which is software programmed resident to electrically programmable
memory devices on board mainboards or other types of integrated hardware carriers.
Middleware controls and co-ordinates distributed systems.
System software such as operating systems, which govern computing resources and
provide convenience for users.
Software testing is a domain independent of development and programming. Software
testing consists of various methods to test and declare a software product fit before it
can be launched for use by either an individual or a group.
Testware is an umbrella term or container term for all utilities and application software,
which serves in combination for testing a software package but not necessarily may
optionally contribute to operational purposes. Testware is not a standing configuration
but merely a working environment for application software or subsets thereof.
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MICROSOFT WORD
Microsoft Word is a word processor designed by Microsoft. It was first introduced in 1983
under the name Multi-Tool Word for Xenix systems. It is a component of the Microsoft Office
system; however, it is also sold as a standalone product and included in Microsoft Works Suite.
Major Features of MS Word
Microsoft Word's native file formats are denoted either by a .doc or .docx file extension.
The newer c ".docx" extension signifies the Office Open XML international standard for
Office documents and is used by Word 2007 for Windows, Word 2008 for the
Macintosh, as well as by a growing number of applications from other vendors.
Word comprised inbuilt spell checker, thesaurus, dictionary, Office Assistant and utilities
for transferring, copy, pasting and editing text, such as Pure Text.
MICROSOFT EXCEL
Microsoft Excel is a spreadsheet application written and distributed by Microsoft for Microsoft
Windows and Mac OS X. It features calculation, graphic tools, pivot tables and a macro
programming language called Visual Basic for Applications or VBA.
Microsoft Excel has the basic features of spreadsheets, using-a grid of cells arranged in
numbered rows and letter-named columns to organize data manipulations like
arithmetic operations.
Finally, it has a variety of interactive features allowing user, who can completely hide
the spreadsheet from the user, so the spreadsheet presents itself as a decision support
system (DSS) via a custom-designed user interface. For example, a stock analyzer, or in
general, as a design tool that asks the user questions and provides answers and reports.
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You can work with other people simultaneously on the same workbook in almost any
web browser using Excel Web Application
Share Point Excel Service enables you to share your easy-to-read workbooks in a web
browser with your team while maintaining a single version of the workbook.
MICROSOFT OUTLOOK
Microsoft Outlook, formerly Microsoft Office Outlook, is a personal information manager from
Microsoft. The current versions are Microsoft Office Outlook 2007 for Windows and in late
2009; Microsoft released the beta version of Microsoft Outlook 2010.
It embraces a Calendar, Task Manager, Contact Manager, note taking, a journal and web
browsing.
It can be used as a standalone application, or can work with Microsoft Exchange Server
and Microsoft Office SharePoint Server for multiple users in an organization, such as
shared mailboxes and calendars, exchange public folders, share point lists and meeting
schedules.
MICROSOFT POWERPOINT
Microsoft PowerPoint is a presentation program by Microsoft. It is part of the Microsoft Office
suite and runs on Microsoft Windows and Apple's Mac OS X operating system. MS PowerPoint
is generally used by business people, educators, students, and trainers.
The presentation can be printed, displayed live on a computer, or navigated through at
the command of the presenter. Slides can also form the basis of web casts.
PowerPoint provides three types of movements:
Entrance, emphasis, and exit of elements on a slide itself are controlled by what
PowerPoint calls Custom Animations
Transitions, on the other hand are movements between slides.
Custom animation can be used to create small story boards by animating pictures to
enter, exit or move.
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COMPUTER LANGUAGES
ALGOL
ALGOL is a short form for ALGO-rithmic language which is a high-level problem-oriented
language for mathematical and scientific application using algorithms. The language defines
algorithms as a series of statements and declarations in the form of algebraic formulae and
English words. An instruction or assignment statement of the form b; = a + c + b.
C
C is a explanation of the primary hard disk in a PC. (ii) A mid level structured programming
language developed by AT&T 1 Bell Laboratories. C is programmed as a series of function that
call each other for processing.
C++
It is an object oriented version of popular C programming language, developed by Bjarne
Stroustrup of Bell laboratories. C++ merge traditional elements of C language with object
oriented capability and has been adopted as the inhouse programming language by number of
companies.
COBOL
This is an acronym for common business oriented language. It is a high-level programming
language designed to assist the tak of programmers by enabling them to write programs in a
more simple manner than is possible with' assembly code. The language is largely used for
mainframe computers. It assists to solve business problems for such applications as stock
control, payroll, sales and purchase ledger accounting etc.
FORTRAN
It is acronym for Formula Translation. It is a high-level language for scientific and mathematical
use using algebraic formula. The language was first of all introduced by IBM in 1957. It has been
replaced or supplemented to some extent by other languages such as BASIC and other highlevel languages.
JAVA
The programming language developed by Sun Microsystem. Java is an object oriented language
very similar to C++ in structure. It can be used to create small applets that run in a web browser
and can be incorporated as part of a website.
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PASCAL
A high-level programming language used on microcomputers. It is said that PASCAL is a superior
language to BASIC and BASIC is not intended for complex programs. PASCAL appeared in the
late sixties at the Zurich Technical Institute. It is a development from ALGOL. The idea PASCAL is
to produce a structured, algorithmically-oriented language. PASCAL executes programs quickly
compared with other languages, especially in comparison with interpretative languages like
BASIC.lt takes time to learn the notation and syntax before it can be used.
COMPUTER NETWORK
A computer network is a collection of computers and devices, which connected by
communications channels that facilitates communications among users and allows users to
share resources with other users.
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3. Home Area Network: A home area network is a residential LAN which is used for
communication between digital devices typically deployed in the home, usually a small
number of personal computers and accessories, such as printers and mobile computing
devices.
4. Campus Area Network: A campus area network (CAN) is a computer network made up of
an interconnection of local area networks (LANs) within a limited geographical area. In the
case of a university campus-based campus area network, the network is likely to link a
variety of campus buildings including; academic departments, the university library and
student residence halls.
5. Metropolitan Area Network: A metropolitan area network (MAN) is a network that
connects two or more local area networks or campus area networks together but does not
extend beyond the boundaries of the immediate town/city. Routers, switches and hubs are
connected to create a metropolitan area network.
6. Wide Area Network: A wide area network (WAN) is a computer network that covers a large
geographic area such as a city, country, or spans even intercontinental distances, using a
communications channel that combines many types of media such as telephone lines,
cables, and air waves.
7. Virtual Private Network: A virtual private network (VPN) is a computer network in which
some of the links between nodes are carried by open connections or virtual circuits in some
larger network (e.g., the Internet) instead of by physical wires.
8. Internet: The Internet is a global system of interconnected governmental, academic, public,
and private computer networks. It is the successor of the Advanced Research Projects
Agency Network (ARPANET), developed by DARPA of the U.S. Department of Defense. The
Internet is also the communications backbone underlying the World Wide Web (WWW).
9. Intranets and extranets: Intranets and extranets are parts or extensions of a computer
network, usually a local area network.
An intranet is a set of networks, using the lnternet Protocol and IP-based tools such as
web browsers and file transfer applications that is under the control of a single
administrative entity
An extranet is a network that is limited in scope to a single organization or entity and
also has limited connections to the networks of one or more other usually, but not
necessarily, trusted organizations or entities.
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2. Repeaters: A repeater is an electronic device that receives a signal, cleans it from the
unnecessary noise, regenerates it and retransmits it at a higher power level. In most twisted
pair Ethernet configurations, repeaters are required for cable which runs longer than 100
meters. Repeaters work on the Physical Layer of the OSI model.
3. Hubs: A network hub contains multiple ports. When a packet arrives at one port, it is copied
unmodified to all ports of the hub for transmission. It works on the Physical Layer of the OSI
model.
4. Bridges: A network bridge connects multiple network segments at the data link layer (layer
2) of the OSI model. However, bridges do not promiscuously copy traffic to all ports, as hubs
do.
Local bridges: Directly connect local area networks (LANs)
Remote bridges: Can be used to create a wide area network (WAN) link between LANs.
Remote bridges, where the connecting link is slower than the end networks, largely
have been replaced with routers.
Wireless bridges: Can be used to join LANs or connect remote stations to LANs.
5. Switches: A network switch is a device that forwards and filters OSI layer 2 datagrams
(chunk of data communication) between ports (connected cables) based on the MAC
addresses in the packets. Switches make forwarding decisions of frames on the basis of
MAC addresses.
6. Routers: A router is a networking device that forwards packets between networks using
information in protocol headers and forwarding tables to determine the best next router for
each packet.
NETWORK TOPOLOGIES
The Bus Topology
This type of network topology is generally used with Ethernet networks.
The Mesh Topology
This type of network topology boasts the highest fault tolerance of all of the network
topologies, it is also usually the most expensive.
The Ring Topology
Ring topology networks the devices by connecting each device to its two neighbouring devices.
The Star Topology
A physical Star topology connects the devices via a centralised unit, such as Hub or Switch.
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INTERNET
The Internet is a global system, which is interconnected computer network that uses the
standard Internet Protocol Suite (TCP/IP) to serve billions of users worldwide. This network that
consists of millions of private, public, academic, business, and government networks of local to
global scope that are linked by a broad array of electronic and optical networking technologies.
EMAIL
Electronic mail is an electronic method of exchanging digital messages. E-mail systems are
based on a store-and-forward model in which e-mail server computer systems accept, forward,
deliver and store messages on behalf of users, who only need to connect to the e-mail
infrastructure, typically an e-mail server, with a network-enabled device for the duration of
message submission or retrieval.
USENET
Usenet is a worldwide distributed Internet discussion system. It is developed from the general
purpose UUCP architecture of the same name.
SEARCH ENGINE
A search engine is an information retrieval system designed to help find information
stored on a computer system.
Search engines help to minimize the time required to find information and the amount of
information which must be consulted, akin to other techniques for managing information
overload.
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Copy
CTRL+X
Cut
CTRL+V
Paste
CTRL+Z
Undo
DELETE
Delete
SHIFT+DELETE
F2 key
CTRL+RIGHT ARROW
to
the
CTRL+LEFT ARROW
the
CTRL+DOWN ARROW
the
CTRL+UP ARROW
CTRL+A
Select all
F3 key
ALT+ENTER
ALT+F4
ALT+ENTER
ALT+SPACEBAR
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CRTL+F4
ALT+TAB
ALT+ESC
F6 KEY
F4 KEY
SHIFT+F10
ALT+SPACEBAR
CTRL+ESC
ALT+U
F10 KEY
RIGHT ARROW
LEFT ARROM
F5 KEY
BACKSPACE
ESC
CTRL+SHIFT+ESC
CTRL+SHIFT+TAB
TAB
SHIFT+TAB
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ALT+Underlined letter
ENTER
SPACEBAR
Arrow keys
F1 key
Display Help
F4 key
Backspace
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MARKETING
NATURE, SCOPE AND FUNCTIONS
The term 'Marketing' has been defined in a number of ways few of them can be explained as
follows
"Marketing is the process of planning and executing the conception, pricing, promotion and
distribution of ideas, goods and services to create exchanged that satisfy individual and
organizational objectives."
"American Marketing Association"
Philip Kotler defines marketing as "Satisfying needs and wants through an exchange process."
The Chartered Institute of Marketing defines marketing as "The management process
responsible for identifying, anticipating and satisfying customer requirements profitably".
"Marketing is essentially about marshalling the resources of an organization so that they meet
the changing needs of the customer on whom the organization depends." Palmer
"Marketing is the process whereby society, to supply its consumption needs, evolves
distributive systems composed on participants, who interacting under constraints, technical
(economic) and ethical (social), create the transactions or flows which resolve market
separations and result in exchange and consumption." Bartles
NATURE OF MARKETING
Marketing is a human activity.
Marketing is a social-economic activity.
Marketing is consumer-oriented process.
The core of marketing is product or service.
Marketing is based on exchange.
Marketing is both art and science.
Marketing is an universal activity.
SCOPE OF MARKETING
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The scope of marketing has been increased a lot in this modem time. The following are now
included under the scope of marketing.
All the decisions related to product like size, colour, design, packaging, etc, are taken
with active participation of marketing department of the company.
All the decisions related to the consumers are taken after having studied the consumer's
responses with respect of different products, different prices and brands.
All promotional decisions, like choosing type of marketing media, are also being taken
under marketing activity.
An effective after sales service is formulated by the marketing manager in order to
satisfy the consumer.
CREATING A CUSTOMER
The activities necessary to create the customers include the following
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CONCEPTS OF MARKETING
Marketing is based on many concepts as per the orientation and perception of the firms about
the business and market place.
Exchange Concept
This concept of marketing indicates that the exchange of a product between the seller
and buyer is necessary.
Production Concept
Production dominates the thinking process of the consumers.
Products produced in a great volume at a low unit cost are supported by the consumers.
Production is focused in this concept.
Product Concept
Quality of the product is focused.
Good and quality products are provided to the customers.
Sales Concept
Large sales promotion is believed to maximize the selling.
Organizations resort to aggressive advertising, high power personal selling.
The customer is being neglected in this concept.
Marketing Concept
Organization focuses on the consumer.
Consumer is at both the beginning and the end of the business cycle.
Consumer needs and aims at the satisfying those needs are determined.
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FUNCTIONS OF MARKETING
Marketing engross distribution of goods produced to the ultimate consumers. A number of
operations need to be performed while carrying out the function of distribution of goods. These
operations are termed as functions of marketing.
Marketing Research
It involves collection and analysis of facts of various aspects of marketing.
It is a process of collection and analyzing information regarding customer needs and
buying habits, nature of competition prevailing prices effectiveness of advertising media
etc.
It congregates records and analyses facts for arriving at rational decisions and
developing suitable marketing strategies.
Product Planning and Development
The task of marketing initiates with planning and designing a product for the consumers.
It could be done by modifying and improving an existing product.
The marketers gather information regarding the needs of the consumers and then
decide what to produce.
Buying and Assembling
It refers to buying and collection of required goods for resale.
It is primarily relevant to those business organizations which are engaged in trading
activities.
In the context of manufacturing organizations, buying and assembling involve buying
raw materials and components required for production of finished goods.
Packaging
It involves putting the goods in attractive packets container according to the
convenience of consumers.
Goods may be packaged in bottles, bones, cans or bags.
Packaging enhances the presentation of goods and also appeals to the user.
Packaging is also used as a promotional tool as suitable and attractive packages
increases the demand for the products to a great extent.
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OBJECTIVES OF MARKETING
Marketing activities are organized to achieve the following objectives
1. Provide Satisfaction to Customers: All marketing activities are directed towards
customer satisfaction. Marketing starts with establishing consumer needs and
production of goods that satisfy those needs most effectively. The pricing and
distribution functions of marketing are also planned accordingly.
2. Increase the Demand: Through advertising and other sales promotional efforts,
marketing intend to create additional demand for their products. Satisfied customers
also help in creating new customers. So, marketing aims at consumer's satisfaction.
3. Provide Better Quality Product to the Customers: This is also one of the vital objectives
of marketing. The organization always tries to update and upgrade their knowledge and
technology continuously to provide better products to their customers so that they
remain loyal to the company.
4. Create Goodwill for the Organization: Another important objective of marketing is to
build a good public image and create goodwill for the organization. This will attract new
customers and help the organization retaining the existing customers.
5. Generate Profitable Sales Volume: The ultimate objective of all marketing efforts is to
generate profitable sales volumes for the business. Taking care of customers needs and
wants by providing the required goods and services at prices they can afford and at
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places and timing that are convenient to them which will ultimately lead to increased
sales and profits.
ROLE OF MARKETING
1. Role of Marketing in Business: The role of marketing in business success has become vital
due to varied reasons that are as follows:
(a) Technological changes are taking place at fast pace.
(b) Competition has become intense in the market.
(c) Consumer tastes and preferences are changing very fast.
(d) Production is organized on a large scale.
2. Role of Marketing in Society: Marketing also has an important role in society. It makes new
and better products available to people, increasing their standard of living. It helps in
creation of new jobs.
It bridges the gap between production and sale of goods, making economic activity possible.
It integrates agricultural and industrial sectors, in. nutshell it lends to economic
development of the country.
CONSUMER BEHAVIOUR
ELEMENTS OF CONSUMER BEHAVIOUR
The following elements constitute the consumer behaviour
Consumer Wants
Consumer Attitude
Decision making
Steps in Consumer Behaviour
The buyer or the consumer takes his buying decision, for some commodities, immediately
without much consideration, such as items of daily use, while for some other commodities
mainly luxury or durable items, he delibarates much before taking a decision to purchase it.
Sometimes, he consults others. Generally, a buyer passes through six distinct stages while
taking a decision for purchasing a particular commodity.
These stages are
Problem Recognition
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Alternative Search
Evaluation of Alternatives
Test of Product
Purchase Decision
MARKETING CHANNELS
FLOWS IN MARKETING CHANNELS
Five most important flows in marketing channels are as
1. Product Flow: Actual physical movement of the product from the manufacturers to the
final consumers.
2. Negotiation Flow: It symbolizes the interplay of the buying and the selling functions
associated with the transfer of title.
3. Ownership Flow: It shows the movement of the title to the product as it is passed along
from the manufacturer to the consumer.
4. Information Flow: It shows the exchange of information through the transportation
functions.
5. Promotion Flow: It refers to the persuasive communication in the form of advertising,
personal selling and publicity.
SALES PROMOTION
OBJECTIVES OF SALES PROMOTION
1. Information to customers: Sales promotion activities update the potential buyer about
the availability, features, use etc, of the product. Thus, it offers additional support to
promotional activities like advertising, publicity and personal selling.
2. Persuade customers: Sales promotion activities aim at generating customers interest in
the product and persuading them to buy.
3. Incentive to retailers: The main objective of sales promotional activities is to offer
promotional support to retailers. Sales promotion schemes make sales easier. Incentive
schemes help product in getting shelf-space for them in new retail outlets.
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4. Buying allowance: Sellers give buying allowance of a certain amount of money for a
product bought.
5. Buy-back allowance: It is offered to encourage repurchase of a product immediately
after another trade deal. A buy back is a resale opportunity.
6. Free goods: Many a times companies offer free bies, eg, one piece free with two or two
pieces free with 10.
ADVERTISING
CHARACTERISTICS OF ADVERTISING
1. Impersonal
Advertising is an impersonal communication of message. It includes sending messages
through one or more media such as television, radio, newspapers and magazines, etc. It is
called impersonal because the message is conveyed through some media rather than a
person.
2. Helps in promotion of Goods or Services
Advertising is done with a specific objective of promoting a product or service and increase
their sale. The message generally, contains' information regarding products characteristics,
prices, uses and important needs that may be satisfied by use of the product.
3. Sponsorship
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The message is sent by manufacturers, wholesalers and retailers who are called sponsors of
the advertisement.
4. Paid form of communication
Advertisements appearing in the newspapers, television, cinema halls etc, are duly paid for.
The sponsors pay huge amounts for use of space in newspaper or time slot in television and
radio etc.
OBJECTIVES OF ADVERTISING
The main objectives of advertising are
Introduction of new product
Increase in sale
Maintaining existing buyers
Create and enhance goodwill of the firm
Create and enhance brand image
Helps in personal selling
ELEMENTS OF ADVERTISING
It is a public presentation.
It helps in sale of the product.
It may be written or printed in words.
TYPES OF ADVERTISING
The advertising process may be classified as follows
Product Advertising
Pioneering Advertising
Consumer Advertising
Trade Advertising
Competitive Advertising
Institutional Advertising
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Local Advertising
National Advertising
Industrial Advertising
MEDIA OF ADVERTISING
Advertising media is the means through which messages regarding products and services are
transmitted from the advertising firm to people at whom that product is targeted. Many types
of media are available for the purpose.
1. Press Advertising
It is printed media of advertising. It includes
Newspaper Advertising
(a) Classified Advertising
(b) Display Advertising
Magazine Advertising
2. Outdoor Advertising
Banners
Posters
Hoardings
Sky Advertising
Bus Advertising
Train Advertising
Tram Advertising
Car Cards
Electric Display
Advertising Board
Sticker Advertising
3. Direct Mail Advertising
Post card
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Booklets
Folders
Circular
Catalogue
Personal Letters
Monthly Magazines
Leaflets
Sales Letter
Price list
4. Electronic Advertising
Radio
Television
Cinema
Video Cassette
Cinema Slide
Film
Loudspeaker
5. Entertaining Advertising
Drama
Music Programmes
Fairs
Exhibitions
Educational Programmes
Demonstration
6. Point of Purchase Advertising
Window Display
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Counter Display
7. Modern Advertising
E-mails
Mobile
Internet (Digital Marketing)
Satisfied Customer
Past Customer
E-commerce
ADVANTAGES OF ADVERTISING
Advertising plays an important role in business and society. The advantages of advertising is
explained below
1. Benefits Consumers: Advertising aid the consumers to gain useful information about the
products, prices, quality, terms of sale, after sales services, etc. Besides providing such
information advertising also guides the customers about the right use of the product. This
helps them to make a comparative analysis and taking right decisions.
2. Benefits manufacturers: Advertising helps the manufacturers in bringing out new products,
maintaining customers of existing products and in enhancing their sales by attracting new
customers. It also helps the business houses in creating and enhancing their goodwill.
3. Benefits society: The enhanced competition results from advertising motivate the
producers to make improvements in their existing products and find out better alternatives
through Research and Development (R and D) activities. It generates employment for
thousands of people who are connected with advertising world in different capacities.
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PERSONAL SELLING
Personal Selling is one of the essential marketing communications tools such as advertising.
Personal selling tends to
Use fewer resources, price is often negotiated.
Products tend to be fairly complex (e.g., financial services or new cars).
There is some contact between buyer and seller after the sales so that an ongoing
relationship is built. Client/prospects need specific information.
The purchase tends to involve large sums of money.
There are exceptions of course, but most personal selling takes place in the above
mentioned way. Personal selling involves a selling process that has been surnmarised in
the following 'Five Stage Personal Selling Process. The five stages are
Prospecting
Sales call
Objection handing
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collecting payments. They also inform the consumers about the introduction of new products, if
any.
ELEMENTS OF SELLING
It is the soul of marketing.
It is a social character.
It is personal and impersonal.
It is the basis of exchange.
It is a productive function.
It includes
Advertisement
Publicity
Sales promotion
Custome
r
It is an oral presentation.
Seller
It is based on social and individual activity. O It is a tool to sell the product or service.
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Personality is a mixture of varied traits including physical appearance, sense of dressing, way of
talking, manners, pitch of voice, habits etc. In nutshell, he should have an impressive
personality and should also look a very friendly person.
Good Behavior
A salesperson should be a well-behaved person with ability to interrelate with people
comfortably. He should also be co-operative, a patient listener who can understand the
requirements of the prospective buyer.
Ability to Communicate and Persuade
The salesperson must speak confidently, clearly and audibly. Good communication skill coupled
with good product knowledge help the salesperson in persuading the customer to buy.
Persistence
The salesperson should be aware of the art of persistence. It requires a sense of determination
to convince the customers to buy. He/she must not give up easily. Without being offensive,
he/she must persuade the customer to finalise the purchase with a sense of satisfaction.
Mental Qualities
A good salesman should possess certain mental qualities like imagination, initiative, selfconfidence, sharp memory, alertness etc. He should be able to perceive the needs and
preference of customer, quickly.
Knowledge of the Product and the Company
A salesman should have complete knowledge of the product and the company he is
representing. He should be able to explain each and every aspect of the product, i.e., its
qualities, how to use it, what precautions to be taken, etc to the prospective buyer.
Integrity of Character
A good salesman should possess the qualities of honesty and integrity.
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CONSUMER PROTECTION
Consumer protection involves safeguarding the interest and rights of consumers. In other
words, it refers to the measures adopted by government for the protection of consumers from
unscrupulous and unethical malpractices by the business and to provide them speedy redressal
of their grievances. The most common business malpractices leading to consumer exploitation
are given below
Sale of duplicate goods.
Hoarding and black-marketing leading to scarcity and rise in price.
Charging more than the Maximum Retail Price (MRP) fixed for the product.
Misleading advertisements, i.e., advertisements falsely claiming a product or service to
be of superior quality, grade or standard.
Supply of inferior services, i.e., quality of service lower than the quality agreed upon.
Sale of sub-standard goods.
Sale of spurious goods.
Sale of adulterated goods.
Use of false weights and measures leading to underweight.
RIGHTS OF CONSUMERS
John F Kennedy, the former USA President, in his message to consumer had given six rights to
consumers. These rights are
Right To Safety
Right To Be Informed
Right To Choose
Right To Be Heard
Right To Seek Redressal
Right To Consumer Education
These rights had paved the way for organised consumer movement in the USA and later it's
spread all over the world.
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The following are the various ways and means of consumer protection followed in India
Lok Adalat
Lok Adalats are the effective and economical system for quick redressal of the public
grievances. The aggrieved party can directly approach the adalats with his grievance and his
problems are discussed on the spot and decisions are taken quickly.
Public Interest Litigation (PIL)
Public Interest Litigation (PIL) is a scheme under which any person can move to the court of law
in the interest of the society. It includes efforts to provide legal remedy to unrepresented
groups and interests. Such groups may consist of consumers, minorities, poor persons,
environmentalists and others. Any person or organisation, though not a party to the grievances,
can approach the court for remedial action in case of any social atrocities.
Redressal Forums and Consumer Protection Councils
A judicial system has been set up to deal with the consumer grievances and disputes at district
level, state level and national level, Under the Consumer Protection Act, 1986. These are known
as district forum, state consumer disputes redressal commission (state commission) and
national consumer disputes redressal commission (national commission). Any individual
consumer or association of consumers can lodge a complaint with the district, state or national
level forum, depending on the value of goods and claim for compensation.
The Act as amended in 2002, also provides or setting up of consumer protection council at
district, state and national level for promotion and protection of the rights of the consumers as
laid down in Section 6 of the Act.
Awareness Programme
To improve the level of awareness among the consumers the government of India has initiated
various publicity measures. It regularly brings out journals, brochures, booklets and various
posters depicting the rights and responsibilities of consumers, redressal machineries etc. It
observes World Consumer Right Day on 15 March and National Consumer Day on 24
December.
Legislative Measures
A number of laws have been enacted in India to safeguard the interest of consumers and
protect them from unscrupulous and unethical practices of the businessmen. Some of these
acts are as follows 1. Drug Control Act, 1950
Drug Control Act, 1950
Agricultural Products (grading and marketing) Act, 1937
Industries (development and regulation) Act, 1951
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Employee's involvement
Social responsibility
The bank marketing considers that the bank institutions must involve themselves to a
great extent in the complex study of the customer's behaviour.
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BANKING PRODUCTS
Banks offer a number of tangible or intangible products which can be considered as follows
Cheque
The cheque may be of three types
Bounced Cheque A cheque that a bank has refused to cash or pay as the account holder does
not have sufficient funds to cover it in this account.
Cashier's Cheque A cheque issued by a bank drawn on its own funds rather than on the funds
of depositors.
Clear A cheque is 'cleared' when its account is debited or deducted from the payer's account
and credited "Or added to the payee's account.
Bank Draft
A cheque drawn by one bank against funds deposited into its account at another bank,
authorizing individual named in the draft.
Plastic Money
Plastic money emerged at the end of 20th century following the introduction of credit cards. At
the beginning credit card was classified also as credit more but introduction of debit card and A
TM cards influenced the establishment of an another form of currency that is 'Plastic Money'.
PIN (Personal Identification Number) code is required to perform transactions with the plastic
money.
Examples of Plastic Money are
Credit Cards
Debit Cards
ATM Cards
Smart Cards
Demat Services
Demat account (Dematerialized account) is used to avoid holding the physical shares. The
shares are bought and sold through a stock broker. By having a proper demat account one can
indulge in the activity of share trading.
NRI BANKING
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Banks allow the NRI's to open an NRI account when they complete the account opening
formalities.
The customers can have a NRI saving Bank account, current account, fixed deposits in
Indian Rupees, fixed deposits in foreign currency, NRO account. Saving Account
A saving bank account in the most common operating account for individuals and others
for non-commercial transactions.
A savings account helps people to put through day-to-day banking transactions besides
earning some return on the savings made.
In saving account, banks generally put some ceilings on the total number of withdrawls
permitted during specific time periods.
Banks as a rule do not give overdraft facility in a saving account but allow occasional
over drawings to meet contingencies.
A savings bank account can be opened by an individual singly or jointly in the name of a
minor, in the name of illiterates under thumb impression. O by registered societies,
clubs, trusts, associations not engaged in business.
By any other body or institution not engaged in business trading or commercial activity
for profit. saving bank account can be opened only with proper introduction regarding
the identity of the prospective customer for which the KYC (Know Your Customer)
norms have been stipulated to enable the bank to satisfy itself about the true identity of
the customer, the origin and source of his funds and the nature of transactions.
CURRENT ACCOUNTS
Current accounts are cheque operated accounts maintained for mainly business
purposes.
For current accounts, no limits are fixed by the banks on the number of transactions
permitted.
Generally, a higher minimum balance is maintained in the current account.
According to RBI directives, banks are not allowed to pay any interest on the balances
maintained in current accounts.
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CORPORATE FINANCING
Advances to business enterprises can be in the form of term loans, the term depending
upon the type of asset being financed, revolving credit through overdrafts or cash credit
for working capital requirements of the business entity.
Term loans are primarily for capital investments in business like acquisition of
immovable property, plant and machinery etc.
Cash credit accounts indicate continuously available finance facility to be used as per
requirements up to a predetermined limit, which will have transactions relating to both
payments and receipts of an enterprise.
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FIXED DEPOSITS
These are deposits given to the bank for a fixed period.
These deposits may vary from 7 days to 420 months as per the suitability of the
customer.
Savings of the customers, which they can afford to keep with the bank for a particular
duration to earn interest, constitute such deposits.
Interest is payable on fixed deposits as per the duration of the deposit.
Accounts are opened only after completion of all formalities including introduction and
compliance with KYC norms.
Fixed deposit receipts are issued confirming the details of deposit made by the
customer with the maturity value on the due date.
MUTUAL FUNDS
Mutual funds collect the savings from small investors to invest them in government and
other corporate securities and cash income through interest and devidends besides
capital gains.
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Mutual funds work on the principle of "small drops of water make a big ocean".
Each fund is divided into a small fraction called, units, of equal value.
Each investor is allotted units in proportion to the size of his investment.
Mutual funds are a safe form of investment as compared to investing in the stock market
because of the following professionally managed diversified portfolio
possibility of good returns transparent dealings
high liquidity because of simple sale procedures o wide choice of schemes as per risk
assessment tax savings options
Mutual funds are regulated entities under SEBI.
MICRO FINANCE
It refers to the provision of financial services to poor or low income clients, including
consumers and the self employed.
Bringing all the poor people under the banking net is also termed as the financial
inclusion.
The term also refers to the practice of sustainably delivering those services.
MICRO CREDIT
Micro credit is the extension of very small leans to the unemployed, to poor
entrepreneurs and to others living in poverty that are not considered bankable.
Micro credit is a part of micro finance, which is the provision of a wider range of
financial services to the very poor.
The poor are those individuals lacking collateral, steady employment and a, verifiable
credit history and therefore cannot meet even the most minimal qualification to gain
access to the traditional credit.
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It also includes checking of bank accounts for balance enquiry, stop payment
instructions, transaction enquiry etc.
ONLINE BANKING
The introduction of core banking solutions has made possible banking through different
channels.
Internet or online banking is one of them.
It is possible by using specially generated password by the bank after registering with it.
Most of the basic services are available on a 24 x7 basis.
OFFSHORE BANKING
Offshore banking denotes branch of an Indian bank which is located in a special
economic zone or an area away from the location of the customer.
It is primarily meant to encourage exports from the area with a specified set of rules and
regulations.
WHOLESALE BANKING
Wholesale banking involves a small number of very large customers such as big
corporations and governments.
Wholesale banking is largely with banks; banks use the interbank markets to borrow
from or lend to other banks/ large customers, to participate in large bond issues and to
engage in syndicated lending.
PRIVATE BANKING
It is a specialized financial and banking service made available to high net worth
individuals.
The mode and manner of delivery of these services is very different from the normal
banking services.
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MERCHANT BANKING
Banks acting as intermediaries in various business transactions of corporates like equity,
debt, external commercial borrowing etc are known as merchant bankers.
It also includes banks aiding in mergers and acquisitions and strategic investments.
PHONE BANKING
Phone banking is to get banking facilities through the use of phones after due
identification process is completed.
Cash delivery, pick up of cheques for collection and delivery of drafts are the different
benefits that are available through this mode.
RETAIL BANKING
Banking business which primarily caters to the average individual like offering deposit accounts
and loans like personal, car and housing come under the retail banking.
BANCASSURANCE
Banks are now selling different financial products to enlarge their scope of activities and
also to increase their earning capacity.
Selling of insurance products across bank counters describes the term bancassurance.
Banks are favorably placed because of-their large customer base and the trust of their
clients.
Insurance companies want to utilize this largely captive customer's pool of banks and
their close understanding of the each customer's financial needs.
Banks are paid fees by the insurance companies for selling their policies.
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GLOSSARY
Activity Based Cost (ABC)
Accounting procedures that can quantify the true profitability of different activities by
identifying their actual costs.
Advertising
It is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by
an identified sponsor.
Arm's-length price
It is price levied by other competitors for the same or a similar product.
Augmented product
It is the product that includes features that go beyond consumer expectations and differentiate
the product from competitors.
Average Cost
The cost per unit at a given level of production; it is equal to total costs divided by production.
Backward Invention
It means reintroducing earlier product forms, which can be well adapted to a foreign country's
needs.
Banner Ads (Internet)
Banner Ads are small, rectangular boxes containing text and perhaps a picture to support a
brand.
Brand
It is a name, term, sign, symbol, or design, or a combination of them, proposed to identify the
goods or services of one seller or group of sellers and to distinguish them from those of
competitors.
Brand Audit
A consumer-focused exercise that involves a series of procedures to assess the health of the
brand, uncovers its sources of brand equity, and suggest ways to improve and leverage its
equity.
Brand Awareness
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It is a consumers' will to identify the brand under different conditions, as reflected by their
brand recognition or recall performance.
Brand Development Index (BDI)
BDI is the index of brand sales to category sales.
Brand Equity
Brand Equity is the added value endowed to products and services.
Brand Extension
A company's uses an established brand to introduce a new product.
Brand Image
It is the perceptions and beliefs held by consumers, as reflected in the associations held in
consumer memory.
Brand Knowledge
It includes all the thoughts, experiences, feelings, images, beliefs, and so on that become
associated with the brand. .
Brand Valuation
An estimate of the total financial value of a brand.
Branding
Branding involved endowing products and services with the power of a brand.
Branding Strategy
The number and nature of common and distinctive brand elements applied to the different
products sold by the firm.
Breakeven analysis
It the means by which management estimates number of units of the product the company
would be selling to break even with the given price and cost structure.
Capital Items
Capital Goods are those long-lasting goods that facilitateso developing or managing the finished
product.
Captive Products
The products that is necessary to the use of other products, such as razor blades or film.
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Category membership
The products or sets of products with which a brand competes and which function as close
substitutes.
Communication Adaptation
It means changing marketing communications programs for each local market.
Communication-effect research
It involves determining whether an ad is communicating eiffectively.
Company demand
Company demand means the company's estimated share of market demand at alternative
levels of company marketing effort in a given time period.
Competitive Advantage a company's ability to perform in one or more ways that competitors
cannot or will not match.
Consumerist movement
An organized movement of citizens and government for strengthening the rights and powers of
buyers in relation to the sellers
Convenience goods
These are the goods the consumer purchases quickly, immediately, and with a minimum of
effort.
Conventional Marketing Channel
Conventional marketing channel comprises an independent producer, wholesaler(s), and
retailer(s).
core benefit the service or benefit the customer is really buying.
Core Competency
Core Competency is the attribute that (1) is a source of competitive advantage in that it makes
a significant contribution to perceived customer benefits, (2) has applications in a wide variety
of markets, (3) is difficult for competitors to imitate.
Corporate Retailing
Corporate Retailing means corporately owned retailing outlets that achieve economies of scale,
greater purchasing power, wider brand recognition, and better-trained employees.
Customer-based brand equity
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It is the differential effect that brand knowledge has on a consumer response to the marketing
of that brand.
Customer Consulting
It includes data, information systems, and advice services that the seller offers to buyers.
Customer Database
It is an organized collection of comprehensive information about individual customers or
prospects that is current, accessible, and actionable for marketing purposes.
Customer lifetime value (CLV)
CLV is the net present value of the stream of future profits expected over the customer's
lifetime purchases.
Customer Perceived Value (CPV)
It is the difference between the prospective customer's evaluation of all the benefits and all the
costs of an offering and the perceived alternatives.
Customer Profitability Analysis (CPA)
It is a means of assessing and ranking customer profitability through accounting techniques
such as Activity-Based Costing (ABC).
Customer Training
It is kind of training the customer's employees to use the vendor's equipment properly and
efficiently.
Customer Value Analysis
It is the report of the company's strengths and weaknesses relative to various competitors.
Customer Value Hierarchy
Customer Value Hierarchy is the five product levels that must be addressed by marketers in
planning a market offering.
Customization
It is the combination of operationally driven mass customization with customized marketing in
a way that empowers consumers to design the product and service offering of their choice.
Database Marketing
It is the process of building, maintaining, and using customer databases and other databases for
the purpose of contacting, transacting, and building customer relationships.
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Data Mining
Data Mining is the extraction of useful information about individuals, trends, and segments
from the mass of data.
Demand Chain Planning
It is the process of designing the supply chain based on adopting a target market perspective
and working backward.
Direct Marketing
It is the use of consumer-direct (CD) channels to reach and deliver goods and services to
customers without using marketing middlemen.
Direct-Order Marketing
Direct-Order Marketing is a kind of marketing in which direct marketers seek a measurable
response, typically a customer order.
Direct Product Profitability (DPP)
It is a way of measuring a product's handling costs from the time it reaches the warehouse until
a customer buys it in the retail store.
Discrimination
Discrimination is the process of recognizing differences in sets of similar stimuli and adjusting
responses accordingly.
Dissociative Groups
These are those groups whose values or behaviour an individual rejects.
Distribution Programming
This programming involves building a planned, professionally managed, vertical marketing
system that meets the needs of both manufacturer and distributors.
Dual Adaptation
It means adapting both the product and the communications to the local market.
Dumping Situation
It is a situation, in which a company charges either less than its costs or less than it charges in
its home market, in order to enter or win a market.
E-business
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E-business is the use of electronic means and platforms to conduct a company's business.
E-commerce
A company or site offers to transact or facilitate the selling of products and services online.
E-marketing
E-marketing are company efforts to inform buyers, communicate, promote, and sell its
products and services over the Internet.
E-purchasing
It is the purchase of goods, services, and information from various online suppliers.
Environmental Threat
It is a challenge posed by an unfavourable trend or development that would lead to lower sales
or profit.
Exchange
It is the process of obtaining a desired product from the person by offering something in return.
Expectancy-Value Model
In this model, consumers evaluate products and services by combining their brand beliefspositive and negative- according to their weighted importance.
Expected Product
These are the set of attributes and conditions buyers normally expect when they purchase this
product.
Fad
It means a craze that is unpredictable, short-lived, and without social, economic and political
significance.
Family Brand
It is one of the situation in which the parent brand is already associated with multiple products
through brand extensions.
Fixed Costs (Overhead)
The costs that do not vary with production or sales revenue is called Fixed Cost.
Focus Group
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Focus Group is a gathering of six to ten people who are carefully selected based on certain
demographic, psychographic, or other considerations and brought together to discuss various
topics of interest.
Forward Invention
Forward Invention means creating a new product to meet a need in another country.
Frequency Programs (FPs)
These programs are designed to provide rewards to customers who buy frequently and in
substantial amounts.
Global firm
Global Firm is a firm that operates in more than one country and captures R&D, production,
logistical, marketing, and financial advantages in its costs and reputation that are not available
to purely domestic competitors.
Global Industry
It is an industry in which the strategic positions of competitors in major geographic or national
markets are fundamentally affected by their overall global positions.
Goal formulation
The process of developing specific goals for the planning period is called Goal Formulation.
Going-Rate Pricing
Going-Rate Pricing is the process of pricing based largely on competitors' prices.
Gray Market
Gray Market is a place where branded products diverted from normal or authorized
distributions channels in the country of product origin or across international borders.
Heuristics
Heuristics means rules of thumb or mental shortcuts in the decision process.
Holistic marketing
It is a concept based on the development, design, and implementation of marketing programs,
processes, and activities that recognizes their breadth and interdependencies.
Horizontal Marketing
It is a proper system of two or more unrelated companies put together resources or programs
to exploit an emerging market opportunity.
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Hybrid Channels
Hybrid Channels indicates the use of multiple channels of distribution to reach customers in a
defined market.
Image
Image is the set of beliefs, ideas, and impressions a person holds regarding an object.
Industry
The group of firms that offer a product or class of products that are close substitutes for one
another is called industry.
Innovation
Innovation means any good, service, or idea that is perceived by someone as new.
Innovation Diffusion Process
Innovation Diffusion Process is the spread of a new idea from its source of invention or creation
to its ultimate users or adopters.
Integrated Logistics Systems (ILS)
ILS is a materials management, material flow systems, and physical distribution, abetted by
information technology (IT).
Integrated Marketing
Integrated Marketing means mixing and matching marketing activities to maximize their
individual and collective efforts.
Integrated Marketing Communications (IMC)
It is a concept of marketing communications planning that recognizes the added value of a
comprehensive plan.
Joint venture
Joint venture means a company in which multiple investors share ownership and control.
Lexicographic Heuristic
Lexicographic Heuristic means the consumer choosing the best brand on the basis of its
perceived most important attribute.
Life-Cycle Cost
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Life-Cycle Cost is the product's purchase cost plus the discounted cost of maintenance and
repair less the discounted salvage value.
Line Stretching
Line Stretching is a situation in which, a company lengthens its product line beyond its current
range.
Loyalty
Loyalty is a commitment to re-buy or re-patronize a preferred product or service.
Market-Buildup Method
Market-Buildup Method means identifying all the potential buyers in each market and
estimating their potential purchases.
Market demand
The total volume of a product that would be bought by a defined customer group in a defined
geographical area in a defined time period in a defined marketing environment under a defined
marketing program is called Market demand.
Market Forecast
The market demand corresponding to the level of industry marketing expenditure is known as
Market Forcast.
Market Opportunity Analysis (MOA)
Market Opportunity Analysis is a system used to determine the attractiveness and probability
of success.
Market-Penetration Pricing
It is a pricing strategy where prices start low to drive higher sales volume from price-sensitive
customers and produce productivity gains. .
Market-Skimming Pricing
It is also pricing strategy in which, prices start high and are slowly lowered over time to
maximize profits from less price-sensitive customers.
Marketer
Marketer is someone who seeks a response (attention, a purchase, a vote, a donation) from
another party, calico the prospect.
Marketing
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Marketing is a process of planning and executing the conception, pricing, promotion, and
distribution of ideas, goods, and services to create exchanges that satisfy individual and
organizational goals.
Marketing audit
A comprehensive, systematic, independent and periodic examination of a company's or
business unit's marketing environment, objectives, strategies, and activities.
Marketing channels
It is a set of interdependent organizations involved in the process of making a product or
service available for use or consumption.
Marketing Communications
The means by which firms attempt to inform, persuade, and remind consumers-directly or
indirectly- about products and brands that they sell are called Marketing Communication.
Marketing Communications Mix
Advertising, sales promotion, events and experiences, public relations and publicity, direct
marketing, and personal selling.
Marketing Information System (MIS)
Marketing Information System is a people, equipment, and procedures to gather, sort, analyze,
evaluate, and distribute information to marketing decision makers.
Marketing Intelligence System
It is a set of procedures and sources managers use to obtain everyday information about
developments in the marketing environment.
Marketing Plan
Marketing Plan is awritten document that summarizes what the marketer has learned about
the marketplace, indicates how the firm plans to reach its marketing objectives, and helps
direct and coordinate the marketing effort.
Marketing Research
The systematic design, collection, analysis, and reporting of data and findings relevant to a
specific marketing situation facing the company is known as Marketing Research.
Markup Pricing
Pricing an item by adding a standard increase to the product's cost is called Markup Pricing.
Media Selection
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The selection of the most cost-effective media to deliver the desired number and type of
exposures to the target audience is known as Media Selection.
Micro Sales Analysis
Micro Sales Analysis is the examination of specific products and territories that fail to produce
expected sales.
Multichannel marketing
In Multichannel marketing, a single firm uses two or more marketing channels to reach one or
more customer segments.
Net Price Analysis
It is an analysis that encompasses company list price, average discount, promotional spending,
and co-op advertising to arrive at net price.
Non Compensatory Models
Non Compensatory Models in consumer choice, when consumers do not simultaneously
consider all positive and negative attribute considerations in making a decision.
Opinion Leader
Opinion Leader is the person in informal, product-related communications who offers advice or
information about a specific product or product category.
Organizational Buying
Organizational Buying is the decision-making process by which formal organizations establish
the need for purchased products and services and identify, evaluate, and choose among
alternative brands and suppliers.
Overall Market Share
Overall Market Share is the company's sales expressed as a percentage of total market sales.
Partner Relationship Management (PRM)
These are the activities the firm undertakes to build mutually satisfying long-term relations with
key partners such as suppliers, distributors, ad agencies, and marketing research suppliers.
Perceived Value
It is the value promised by the company's value proposition and perceived by the customer.
Perception
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It means the process by which an individual selects, organizes, and interprets information
inputs to create a meaningful picture of the world.
Point-Of-Purchase (P-O-P)
Point-Of-Purchase is the location where a purchase is made, typically thought of in terms of a
retail setting.
Potential market
The set of consumers who profess a sufficient level of interest in a market offer creates
potential market.
Price Discrimination
A company sells a product or service at two or more prices that do not reflect a proportional
difference in costs.
Principle of Congruity
It is a psychological mechanism that states that consumers like to see seemingly related objects
as being as similar as possible in their favorability.
Private Label Brand
The brands that retailers and wholesalers develop and market are called Private Label Brand.
Product Adaptation
Product Adaptation means altering the product to meet local conditions or preferences.
Product Penetration Percentage
It is the percentage of ownership or use of a product or service in a population.
Product System
A group of diverse but related items that function in a compatible manner is known as Product
System.
Public
It is any group that has an actual or potential interest in or impact on a company's ability to
achieve its objectives.
Publicity
Publicity is the task of securing editorial space-as opposed to paid space-in print and broadcast
media to promote something.
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It is a group, which tends to be more formal and require less interaction than primary groups,
such as religious, professional, and trade-union groups.
Selective Retention
Selection Retention includes good points about a product that consumers like at e remembered
and good points about competing products are forgotten.
Service
Any act or performance that one party can offer to another that is essentially intangible and
does not result in the ownership of anything is called Service.
Share Penetration Index
Share Penetration Index is comparison of a company's current market share to its potential
market share.
Social Classes
Social Classes is a homogeneous and enduring divisions in a society, which are hierarchically
ordered and whose members share similar values, interests, and behaviour.
Social Marketing
Social Marketing is a marketing done by a nonprofit or government organization to further a
cause, such as "say no to drugs."
Sponsorship
Sponsorship means financial support of an event or activity in return for recognition and
acknowledgment as the sponsor.
Strategic Brand Management
Strategic Brand Management is the design and implementation of marketing activities and
programs to build, measure, and manage brands to maximize their value.
Strategic Marketing Plan
Strategic Marketing Plan means laying out the target markets and the value proposition that
will be offered: based on analysis of the best market opportunities.
Supplies and Business Services
The short-term goods and services that facilitate developing or managing the finished product
are known as Supplies and Business Services.
Target-Return Pricing
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Target-Return Pricing means determining the price that would yield the firm's target rate of
return on investment (ROI).
Total Costs
Total Costs is the sum of the fixed and variable costs for any given level of production.
Total Customer Value
Total Customer Value is the value the perceived monetary value of the bundle of economic,
functional, and psychological benefits customers expect from a given market offering.
Transaction
Transaction is an activity of trade of values between two or more parties: A gives X to B and
receives Y in return.
Transfer Price
The price a company charges another unit in the company for goods it ships to foreign
subsidiaries.
Trend
Trend is a direction or sequence of events that has some momentum and durability.
Tying Agreements
An agreement in which, producers of strong brands sell their products to dealers only if dealers
purchase related products or services, such as other products in the brand line. The agreement
between them is known as tying agreement.
Unsought goods
These are those the consumer does not know about or does not normally think of buying, like
smoke detectors.
Value Network
Value Network is a system of partnerships and alliances that a firm creates to source, augment,
and deliver its offerings.
Value Pricing
Value Pricing means winning loyal customers by charging a fairly low price for a high-quality
offering.
Variable Costs
It is a type of costs that vary directly with the level of production.
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Venture Team
A cross-functional group charged with developing a specific product or business is called
venture team.
Vertical Marketing System (VMS)
VMS stands for Vertical Marketing System in which, producer, wholesaler(s), and retailer(s)
acting as a unified system.
Viral Marketing
Viral Marketing means using the Internet to create word of mouth effects to support marketing
efforts and goals.
Yield Pricing
It is a situation in which companies offer (1) discounted but limited early purchases, (2) higherpriced late purchases, and (3) the lowest rates on unsold inventory just before it expires.
Zero-level channel (direct-marketing channel)
Zero-level channel is a direct marketing channel through which, a manufacturer selling directly
to the final customer.
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