Published on: 11-J UN-2014 Important for Exam: 117 people agreed GEP report of World Bank has revised down the economic growth forecast of developing world in 2014 to 4.8 percent from 5.3 percent. NABARD reduced rates of refinance to boost investment credit Published on: 10-J UN-2014 Important for Exam: 70 people agreed The National Bank for Agriculture and Rural Development (NABARD) on 9 J une 2014 reduced the rate of interest by 20 basis points (bps) RBI simplified KYC norms for opening bank account Published on: 10-J UN-2014 Important for Exam: 84 people agreed KYC norms for opening bank account have been eased by RBI. Now single documentary proof of address can be used to open a bank account. Indian Services sector expanded for the first time in eleven months: HSBCs PMI Published on: 05-J UN-2014 Important for Exam: 29 people agreed The Services sector in India expanded for the first time in 11 months. This was revealed by the HSBC Services Purchasing Managers' Index IICA signed MoU with Grant Thornton to implement CSR Rules of Companies Act 2013 Published on: 04-J UN-2014 Important for Exam: 70 people agreed IICA & Grant Thornton India signed MoU to develop capacity of Indian companies to implement the CSR Rules laid in Section 135 of Companies Act 2013. India became the second largest exporter of textiles in the world: UN Comtrade Published on: 03-J UN-2014 Important for Exam: 114 people agreed India became the second largest exporter of textiles in the world. This was revealed by the recent data released by UN Comtrade RBI announced second Bi-Monthl y Monetary Policy Statement Published on: 03-J UN-2014 Important for Exam: 239 people agreed Reserve Bank of India was released second Bi-Monthly Monetary Policy Statement. India became 2nd largest textiles exporter after China: UN Comtrade Published on: 03-J UN-2014 Important for Exam: 23 people agreed India became the 2nd largest exporter of global textiles after China. CSO released Provisional and Quarterl y Estimate of National Income for 2013-14 Published on: 31-MAY-2014 Important for Exam: 167 people agreed Central Statistical Organisation (CSO) on 30 May 2014 released the Provisional and Quarterly Estimate of National Income for the financial year 2013-14. India signed loan agreement with World Bank for Sarva Shiksha Abhi yan III Published on: 30-MAY-2014 Important for Exam: 149 people agreed Union Government and the World Bank signed a loan agreement for World Bank (IDA) assistance of 1006.20 million US dollar for Sarva Shiksha Abhiyan III. RBI tightened acquisition & merger rules for Non- Banking Financial Companies Published on: 27-MAY-2014 Important for Exam: 115 people agreed RBI tightened merger rules for non-bank finance companies Foreign Exchange Reserves increased by 15.5 billion US dollar in 2014: RBI Published on: 27-MAY-2014 Important for Exam: 51 people agreed Foreign exchange reserves increased by 15.5 billion US dollar in the financial year ended March 2014. INR appreciated to 11-month high to become the best performing currency in Asia-Pacific region Published on: 26-MAY-2014 Important for Exam: 64 people agreed Indian rupee becomes the best performing currency in Asia-Pacific region against US dollar so far in 2014. Singapore became the top source of FDI into India replacing Mauritius: DIPP Published on: 26-MAY-2014 Important for Exam: 94 people agreed Singapore became the top source of foreign direct investment (FDI) into India. RBI permitted the banks to provide loans to exporters with 10 years tenure Published on: 23-MAY-2014 Important for Exam: 90 people agreed RBI allowed banks to provide loans with tenures of up to 10 years to exporters to help them ensure capital flows to fulfill long-term contracts Indian Stock Market entered trillion dollar club based on m-cap Published on: 23-MAY-2014 Important for Exam: 32 people agreed Indian Stock Market entered trillion dollar club on 20 May 2014. AFD extended 100 million euro Line of Credit to IREDA Published on: 23-MAY-2014 Important for Exam: 25 people agreed AFD extended Line of Credit of 100 million Euro to IREDA to be utilised for financing Renewable Energy and Energy Efficiency projects in India. RBI directed all banks to install disabled friendl y new ATMs Published on: 22-MAY-2014 Important for Exam: 106 people agreed RBI directed all new ATMs to be installed by commercial banks from J uly 2014 onwards would provide audible instructions and Braille keypads to customers. RBI eased gold import norms under 20:80 Scheme Published on: 22-MAY-2014 Important for Exam: 144 people agreed The Reserve Bank of India allowed star houses (SRH) and premier trading houses (PTH) to import gold under the 20: 80 Scheme. Bharati ya Mahila Bank included in Second Schedule of RBI Act, 1934 Published on: 22-MAY-2014 Important for Exam: 158 people agreed Bharatiya Mahila Bank included in the Second Schedule to the Reserve Bank of India Act, 1934 and became eligible for loans from RBI on bank rate. Nayak Committee to Review Governance of Boards of Banks in India submitted its report to RBI Published on: 17-MAY-2014 Important for Exam: 151 people agreed The committee to review Governance of Boards of Banks in India on 13 May 2014 submitted its report to Reserve Bank of India (RBI). Kasturirangan Task Force on Waste to Energy submitted its report to the Planning Commission Published on: 17-MAY-2014 Important for Exam: 40 people agreed Kasturirangan Task Force on Waste to Energy submitted its report on 14 May 2014 to the Planning Commission. Plastic currency notes to be launched in 2015: Raghuram Rajan Published on: 16-MAY-2014 Important for Exam: 211 people agreed Governor of the Reserve Bank of India announced that plastic currency notes will be launched in 2015 after field trials in five cities. India to become the third largest oil consumer by 2025: US EIA Published on: 14-MAY-2014 Important for Exam: 79 people agreed India will become the worlds third largest oil consumer by 2025 according to the US Energy Information Administration. RBI allowed bank branches abroad to sell structured products Published on: 13-MAY-2014 Important for Exam: 58 people agreed RBI has allowed the overseas branches of domestic banks to offer structured derivatives even if the products are not allowed in India, at present. Indian companies are not permitted to raise External Commercial Borrowings: RBI Published on: 10-MAY-2014 Important for Exam: 83 people agreed RBI in its notification barred eligible Indian companies from raising ECB from overseas branches/subsidiaries of Indian banks. President of India launched Indigenous Card payment System Rupay Published on: 09-MAY-2014 Important for Exam: 72 people agreed President of India on 8 May 2014 launched Rupay, Indigenous Card payment System at Rashtrapati Bhawan in Delhi. RBI allowed the minors of age above 10 years to open Savings bank accounts Published on: 07-MAY-2014 Important for Exam: 173 people agreed Reserve Bank of India (RBI) on 6 May 2014 issued the guidelines to allow the minors of age above... EU imposed temporary ban on Indian Alphonso mangoes and 4 vegetables Published on: 29-APR-2014 Important for Exam: 152 people agreed EU imposed a temporary ban on import of Alphonso mangoes and four vegetables from India. The ban will come into effect from 1 May 2014. RBI will decide NPA guidelines rules: Gujarat High Court Published on: 25-APR-2014 Important for Exam: 106 people agreed Gujarat High Court has restored the RBIs power to decide the period after which a bad loan can be called a Non-Performing Asset (NPA). DGCA allowed Portable Electronic Device including cellphones during Flights Published on: 25-APR-2014 Important for Exam: 67 people agreed The Directorate General Civil Aviation (DGCA) decided to allow the use of Portable Electronic Devices (PEDs) during flights. RBI issued uniform accounting norms for Asset Reconstruction Companies Published on: 25-APR-2014 Important for Exam: 48 people agreed The Reserve Bank of India (RBI) on 23 April 2014 issued uniform accounting standards for Asset Reconstruction Companies (ARCs). Umesh Bellur headed GIRO Advisory Group submitted its report to RBI Published on: 24-APR-2014 Important for Exam: 86 people agreed GIRO Advisory Group (GAG) under the chairmanship of Prof. Umesh Bellur on 23 April 2014 has submitted its report to Reserve Bank of India (RBI). IFFCO got permission from Quebec Provincial Government to set up Urea plant Published on: 21-APR-2014 Important for Exam: 34 people agreed IFFCO received approval to set up a Urea Plant in Canada on 19 April 2014 Union Government decided to continue export subsidy of 3300 rupees per tonne on raw sugar export Published on: 21-APR-2014 Important for Exam: 18 people agreed Union Government has decided to continue export subsidy of 3300 rupees/tonne on raw sugar shipments for months of April and May 2014. SEBI issued detailed Corporate Governance Norms Published on: 19-APR-2014 Important for Exam: 117 people agreed SEBI has issued detailed corporate governance norms for listed companies to encourage companies to adopt best practices on governance. CAG empowered to audit private telecom companies: SC Published on: 17-APR-2014 Important for Exam: 41 people agreed Supreme Court in its direction said that CAG is empowered to audit the private telecom companies. Inflation based on WPI reached 3-month high of 5.7% in March 2014 Published on: 16-APR-2014 Important for Exam: 46 people agreed WPI for month of March 2014 was recorded at 5.7%, which was 3-month high. This hike was driven up by increases in prices of food items and fuel costs. Basel Committee issued Final standards to curb exposures of banks to customers Published on: 16-APR-2014 Important for Exam: 52 people agreed The Basel Committee on Banking Supervision on 15 April 2014 issued Final standards for measuring and controlling large exposures of banks to customers. Securities of 7 firms to be moved from restricted to normal trading category: SEBI Published on: 16-APR-2014 Important for Exam: 42 people agreed SEBI had asked the stock exchanges to consider shifting the securities of seven companies to normal trading category from restricted segment. World Trade to grow by 4.7 percent in 2014: WTO Published on: 15-APR-2014 Important for Exam: 39 people agreed World Trade Organisation projected that the world trade grow by 4.7 percent in 2014 India became net steel exporter after a gap of 6 years Published on: 14-APR-2014 Important for Exam: 47 people agreed India became net steel exporter in 2013-14 after a gap of six years. WB projected economic growth rate of 5.7% for India in 2014-15 fiscal Published on: 11-APR-2014 Important for Exam: 60 people agreed World Bank has projected that the economic growth rate of India for the fiscal year 2014-2015 will be 5.7 percent. India ranked 102 out of 132 countries on Social Progress Index Published on: 05-APR-2014 Important for Exam: 91 people agreed India was ranked 102 out of 132 countries on the Social Progress Index (SPI) published by the US-based non-profit organisation Social Progress Imperative MCA notified rules on providing insurance cover for public deposits Published on: 05-APR-2014 Important for Exam: 33 people agreed Union Ministry of Corporate Affairs (MCA) notified rules on providing insurance cover for public deposits SEBI revamped committee on disclosure and accounting standards Published on: 04-APR-2014 Important for Exam: 17 people agreed SEBI has revamped its committee on disclosures and accounting standards, which advises it on matters related to disclosure requirements. Reserve Bank of India adopted CPI as new measure of Inflation Published on: 03-APR-2014 Important for Exam: 254 people agreed Reserve Bank of India adopted the new Consumer Price Index (CPI) combined as the key measure of Inflation. RBI approved banking licences to IDFC Ltd and Bandhan financial services Published on: 03-APR-2014 Important for Exam: 43 people agreed RBI has granted in-principle approvals to IDFC Ltd and Bandhan Financial Services Pvt Ltd to start new banks in India. Banks should not levy penal charges for non- maintenance of minimum Balance: RBI Published on: 02-APR-2014 Important for Exam: 84 people agreed The RBI in its first bi-monthly monetary policy statement for 2014-15 directed banks not to impose financial penalty Asian Development Outlook 2014 released Published on: 02-APR-2014 Important for Exam: 44 people agreed Asian Development Outlook 2014 released by the Asian Development Bank on 1 April 2014. RBI capped WMA limit for central government at 35000 crore rupees for 2015 first half Published on: 02-APR-2014 Important for Exam: 67 people agreed RBI has capped the Ways and Means Advances limit for the first half of the new financial year 2014-15 at 35000 crore rupees for Union Government. Repo Rate kept unchanged by RBI in First Bi-monthl y Monetary Policy Statement 2014-15 Published on: 01-APR-2014 Important for Exam: 81 people agreed Reserve Bank of India (RBI) announced on 1 April 2014 its first Bi- monthly Monetary Policy statement 2014-15 Union Ministry of Corporate Affairs notified rules for ten more chapters in the new Company Act Published on: 01-APR-2014 Important for Exam: 53 people agreed Union Ministry of Corporate Affairs notified rules for ten more chapters in the new Companies Act, 2013. India GDP rises to 5.5 percent in 2014-15: Asian Development Outlook 2014 Published on: 01-APR-2014 Important for Exam: 56 people agreed India GDP forecast to 5.5 percent in 2014-15 according to report by the Asian Development Outlook 2014. President cleared the re-promulgation of SEBI Ordinance 2013 Published on: 31-MAR-2014 Important for Exam: 82 people agreed President Pranab Mukherjee on 30 March 2014 cleared the re- promulgation of the SEBI Ordinance Securities Laws (Amendment) Bill 2013. BHEL signed contract of 125crore rupees of hydro power in Uttarakhand Published on: 31-MAR-2014 Important for Exam: 69 people agreed BHEL signed a contract 125 crore rupees from Uttarakhand J al Vidyut Nigam Limited NCDEX launched Bajra Future Contract Published on: 31-MAR-2014 Important for Exam: 22 people agreed NCDEX launched the Worlds first bajra contract for the benefit of Indian farmers. Spices export of India increased 41 percent during April to December 2013 Published on: 28-MAR-2014 Important for Exam: 27 people agreed Spices Boards released figures say that export of spices of India from April to December 2013 has increased by 41 percent in terms of rupees. RBI extended the timeline for full implementation of Basel III norms by 2019 Published on: 28-MAR-2014 Important for Exam: 116 people agreed The Reserve Bank of India (RBI) extended the timeline for full implementation of the Basel III capital regulations by a year. SEBI to release FATCA compliance norms in the fiscal year 2014-15 Published on: 27-MAR-2014 Important for Exam: 61 people agreed SEBI announced on 25 March 2014 to release the Foreign Account Tax Compliance Act (FATCA) compliance norms in the fiscal year 2014-15. EPFO announced to provide Universal Account Number from October 2014 Published on: 27-MAR-2014 Important for Exam: 52 people agreed EPFO on 24 March 2014 announced to provide Universal Account Number (UAN) to its five crore subscribers from 1 October 2014. Aditya Puri headed RBI Panel submitted its report Published on: 26-MAR-2014 Important for Exam: 63 people agreed A RBI panel headed by Aditya Puri submitted its report on 22 March 2014. Bank of India launched Instant Money Transfer Scheme Published on: 25-MAR-2014 Important for Exam: 132 people agreed Bank of India on 24 March 2014 launched Instant Money Transfer (IMT) scheme in Mumbai Government of India divested its 9 percent stake in Axis Bank Published on: 22-MAR-2014 Important for Exam: 29 people agreed The Government of India divested its 9 percent stake in Axis Bank on 21 March 2014. FDI inflow grew in January 2014 by 1.5 percent: DIPP Published on: 21-MAR-2014 Important for Exam: 27 people agreed The foreign direct investment (FDI) grew in J anuary 2014 by 1.5 per cent to 2.18 billion US dollar compared to 2.15 billion US dollar in J anuary 2013. RBI issued notice to banks concerning discontinuation of Windows XP Published on: 21-MAR-2014 Important for Exam: 94 people agreed The Reserve Bank of India (RBI) issued notice to banks to take measures to counter the threat expected to arise from discontinuation of Windows XP RBI extended 80:20 scheme to import gold to five private banks Published on: 20-MAR-2014 Important for Exam: 131 people agreed The Reserve Bank of India (RBI) on 19 March 2014 extended the 80:20 scheme to import gold to five private banks. SEBI issued new norms to ease KYC details for investors Published on: 20-MAR-2014 Important for Exam: 36 people agreed SEBI has notified new set of norms to ease the process of KYC for investors by allowing market entities to get details from the centralized KYC agencies. IOC sold 10% government stake to OIL and ONGC Published on: 15-MAR-2014 Important for Exam: 48 people agreed IOC sold 10% of government stake for 5340 crore rupees to OIL and ONGC. RBI hiked trade related remittance from 2 to 5 lakh rupees per transaction Published on: 14-MAR-2014 Important for Exam: 59 people agreed Reserve Bank of India (RBI) hiked the trade related remittance limit from 2 lakh rupees to 5 lakh rupees per transaction Union Finance Ministry and SEBI finalized the norms for setting up CPSE-ETF Published on: 12-MAR-2014 Important for Exam: 39 people agreed Union Finance Ministry and SEBI on 11 March 2014 jointly finalized the norms of investment for setting up CPSE - ETF Indias exports contracted 3.67 percent to 25.7 billion dollar in February 2014 Published on: 12-MAR-2014 Important for Exam: 33 people agreed Indias exports have contracted by 3.67 percent in February 2014 to 25.7 billion dollars, which is the first in past eight months. Union Government announced to build 200 low cost airports Published on: 11-MAR-2014 Important for Exam: 27 people agreed Union Government on 10 March 2014 announced to build 200 low cost airports in the next 20 years. Committee set up to assist banking sector to appl y Basel III norms Published on: 08-MAR-2014 Important for Exam: 174 people agreed Reserve Bank of India (RBI) on 7 March 2014 announced to set up a committee under the Financial Stability and Development Council (FSDC). Indian Revenue Department tightened baggage rules to curb illegal Gold Import Published on: 07-MAR-2014 Important for Exam: 14 people agreed Indian Revenue Department has tightened baggage rules for inbound Indian passengers curb gold smuggling and to prevent misuse of gold import facility. Current Account Deficit declined to 0.9 percent of GDP in Quarter 3 of 2013-14 Published on: 06-MAR-2014 Important for Exam: 40 people agreed Current Account Deficit (CAD) declined to 0.9 percent of Gross Domestic Product (GDP) in Quarter 3 (October - December) of 2013-14. Interest rate on Post Office Fixed deposits hiked by 0.2% Published on: 05-MAR-2014 Important for Exam: 46 people agreed Government hiked interest rates on fixed deposit scheme offered by post offices by up to 0.2 percent and will come into effect from 1 April 2014. RBI extended date of exchanging pre-2005 notes to 1 January 2015 Published on: 04-MAR-2014 Important for Exam: 76 people agreed RBI has extended date for exchange of pre-2005 banknotes to 1 J anuary 2015 and advised banks to facilitate the exchange of these notes for full value. Union Ministry of Commerce and Industry launched DMIC at Lucknow Published on: 03-MAR-2014 Important for Exam: 44 people agreed Union Ministry of Commerce and Industry launched the DMIC chapter of Uttar Pradesh at Lucknow Workdays for tribals under MNREGA raised from 100 to 150 Published on: 01-MAR-2014 Important for Exam: 158 people agreed Government raised the number of workdays under MNREGA from 100 days to 150 days. RBI issued guidelines to deal with distressed assets Published on: 27-FEB-2014 Important for Exam: 74 people agreed The Reserve Bank of India (RBI) issued guidelines for revitalising distressed assets on 26 February 2014. NABARD formed Joint Liability Group to finance Small Farmers Published on: 25-FEB-2014 Important for Exam: 182 people agreed Rural development agency NABARD announced to form a new concept called J oint Liability Group (J LG) on 24 February 2014. Union Cabinet approved Coal Regulatory Authority Published on: 21-FEB-2014 Important for Exam: 76 people agreed The Union Cabinet approved the setting up of Coal Regulatory Authority (CRA) on 20 February 2014. IMF projected 5.4 percent economic growth for India in 2014-15 Published on: 21-FEB-2014 Important for Exam: 31 people agreed IMF has projected that the economic growth for 2014-15 of India will be 5.4% and suggested India to strengthen its inflation management policies Gross NPAs of listed banks soared 35.2 percent during first three quarters of 2013-14 Published on: 19-FEB-2014 Important for Exam: 79 people agreed The gross non-performing assets (NPAs) of listed banks rose 35.2 per cent to 2.43 trillion rupees during the first three quarters of the 2013-14. Government de-allocated six Coal Blocks due to delay in production Published on: 19-FEB-2014 Important for Exam: 31 people agreed Government de-allocated 6 coal-blocks given to different companies following delay in production following a recommendation of IMG. Interim Union Budget 2014-15 Tax Proposal Published on: 17-FEB-2014 Important for Exam: 173 people agreed Interim Budget 2014-15 of tax proposals presented Interim Union Budget 2014-15 presented by P. Chidambaram in Lok Sabha: Highlights Published on: 17-FEB-2014 Important for Exam: 277 people agreed Union Finance Minister, P Chidambaram presented the Interim Budget 2014-15 in the Lok Sabha on 17 February 2014. Union Government raised the import tariff value on gold and silver Published on: 17-FEB-2014 Important for Exam: 44 people agreed Union Government raised the import tariff value on gold and silver to 421 US dollar per 10 grams and 663 US dollar per kilogram respectively. Second AE put Foodgrain production at 263.2 MT in 2013-14 Published on: 15-FEB-2014 Important for Exam: 31 people agreed Union Agriculture Ministry released the Second advance estimates of Crop Production on 14 February 2014. SEBI approved the new Corporate Governance norms Published on: 14-FEB-2014 Important for Exam: 39 people agreed Securities and Exchange Board of India board approved the new corporate governance norms Indias Economy to grow by 4.9 percent in 2013-14: CSO Published on: 10-FEB-2014 Important for Exam: 93 people agreed CSO estimated Indias economic growth in 2013-14 fiscal to be 4.9 percent as compared to the growth rate of 4.5 percent in 2012-13. NABARD under RIDF has sanctioned loans worth over 19100 crore rupees Published on: 10-FEB-2014 Important for Exam: 76 people agreed Chairman of NABARD, HK Bhanwala announced that the organisation has sanctioned loans worth over 19100 crore rupees under the RIDF to states. RBI released draft Report on Enabling PKI in Payment System Applications Published on: 08-FEB-2014 Important for Exam: 100 people agreed Technical report on making payment system effective was released by RBI with objective of effective payment system ensuring safe and secured. Union Government hiked FRP of Sugarcane by 10 rupees per quintal for 2014-15 Published on: 07-FEB-2014 Important for Exam: 24 people agreed Government has approved increase in FRP for sugarcane by 10 rupees per quintal for 2014-15 to 220 rupees per quintal from 210 rupees per quintal. Tea Production of India rose by 6.5 percent in 2013: Indian Tea Association Published on: 03-FEB-2014 Important for Exam: 42 people agreed ITA announced that tea Indias production has gone up by 6.5 percent in 2013 as production rose to 1200 million Kg against 1126 million kg in 2012. Economic growth for 2012-13 lowered to 4.5 percent from 5 percent estimated earlier Published on: 01-FEB-2014 Important for Exam: 54 people agreed Government announced that economy might have expanded by 4.5 percent in fiscal year 2012-13 as compared to previous estimate of 5 percent. FAA downgraded safety rati ngs of Indian aviation Published on: 31-J AN-2014 Important for Exam: 56 people agreed Federal Aviation Administration of the US downgraded the safety ratings of Indian aviation on 31 J anuary 2014 from top to the second category. Cabinet approved second Phase of Bangalore Metro Rail Project Published on: 31-J AN-2014 Important for Exam: 101 people agreed Union Cabinet approved the second phase of Bangalore Metro Rail Project (Namma Metro) to improve public transport system in the city. CCI ordered fresh probe into Coal India and subsidiary for violations Published on: 31-J AN-2014 Important for Exam: 21 people agreed CCI has ordered a fresh probe into state-run miner Coal India and its subsidiary for alleged abuse of dominant market position in fuel supplies. By June 2014 India to have 243 million Internet users: IAMAI Published on: 31-J AN-2014 Important for Exam: 70 people agreed Internet user base in India projected to reach 243 million by J une 2014: IAMAI Agriculture Ministry issued guidelines on National Mission on Oil seeds and Oil Palm Published on: 31-J AN-2014 Important for Exam: 66 people agreed Agriculture Ministry has issued detailed guidelines and strategy for implementation of National Mission on Oilseeds and Oil Palm. India became third largest crude oil importer in the World Published on: 31-J AN-2014 Important for Exam: 442 people agreed India overtook J apan to become the third largest crude oil importer in the World. India ranked lowest in International Intellectual Property Index Published on: 29-J AN-2014 Important for Exam: 204 people agreed US Chamber of Commerce released the International Intellectual Property (IP) Index NIC and Union Ministry of MSME launched India Inclusive Innovation Fund Published on: 28-J AN-2014 Important for Exam: 34 people agreed India Inclusive Innovation Fund (IIIF) launched by National Innovation Council and the Ministry of Micro, Small and Medium Enterprises EGoM approved SUC of 5 percent of annual Gross Revenue on all new airwaves Published on: 28-J AN-2014 Important for Exam: 12 people agreed EGoM has approved a SUC of 5 percent of the annual gross revenue on all new airwaves that will be acquired in auction. RBI raised Repo Rate by 25 basis points to 8 percent Published on: 28-J AN-2014 Important for Exam: 118 people agreed RBI raised the Repo rate under LAF by 25 basis points from 7.75% to 8% and kept the CRR of scheduled banks unchanged at 4% of NDTL. RBI issued new guidelines for loan restructuring in NBFCs Published on: 24-J AN-2014 Important for Exam: 85 people agreed The Reserve Bank of India (RBI) issued guidelines for loans restructured by non-banking finance companies (NBFCs) on 23 J anuary 2014. Finance Ministry nod for 1000 rupees minimum monthl y pension plan Published on: 24-J AN-2014 Important for Exam: 88 people agreed Finance Ministry approved a proposal to provide minimum monthly pension of 1000 rupees to workers of organised sector under (EPS-95). Currency notes issued before 2005 to be withdrawn: RBI Published on: 23-J AN-2014 Important for Exam: 173 people agreed The Reserve Bank of India (RBI) has decided to withdraw all currency notes issued prior to 2005 from circulation on 21 J anuary 2014. SEBI asked depositories to set up IT Strategy Panels Published on: 23-J AN-2014 Important for Exam: 15 people agreed SEBI has asked depositories to formulate information technology panels at board level with a view to strengthen IT governance framework of systems. Indian economy to grow by 6 percent: CRISIL Published on: 23-J AN-2014 Important for Exam: 59 people agreed Ratings and Research firm CRISIL released its Indian Economic Forecast for 2014-15 on 21 J anuary 2014. India Economic Growth projected to be 4.5 percent by IMF Published on: 22-J AN-2014 Important for Exam: 86 people agreed World Economic Outlook projected Indias Economic Growth at 4.5 percent for 2013-14. CCEA approved the sale of Governments residual stake of HZL Published on: 22-J AN-2014 Important for Exam: 28 people agreed CCEA approved sale of the Governments residual stakes of Hindustan Zinc worth 16500 crore rupees. Government holds 29.5% stakes of the company. RBI expert panel suggested adoption of new CPI for Anchoring Monetary Policy Published on: 22-J AN-2014 Important for Exam: 55 people agreed RBI panel suggested that a new consumer price index should be adopted. It has set an inflation target at 4 percent, with a band of (+/-) 2 percent. Veerappa Moil y formed MOT to reassess Hydrocarbon Resources of India Published on: 21-J AN-2014 Important for Exam: 13 people agreed Veerappa Moily, announced to set-up a MOT to carry out re-assessment work of hydrocarbon resources in 26 sedimentary basins in India. RBI appointed a Committee to Review Governance of Boards of Banks in India Published on: 21-J AN-2014 Important for Exam: 47 people agreed RBI has constituted an Expert Committee to Review Governance of Boards in India, which will be chaired by PJ Nayak, former Chairman and CEO of Axis Bank. Government extended Natural Manufacturing Policy benefits to Industry Clusters Published on: 20-J AN-2014 Important for Exam: 15 people agreed Union Government has extended the benefits of the NMP throughout India to boost manufacturing sector. Indian Institute of Corporate Affairs Signed MoUs with FICCI Published on: 18-J AN-2014 Important for Exam: 18 people agreed IICA and FICCI signed MoU to Raise Awareness on Corporate Regulation and Governance and for promoting the Corporate Affairs Agenda. Sunanda Pushkar, wife of Union Minister Shashi Tharoor found dead in a Delhi hotel Published on: 18-J AN-2014 Important for Exam: 13 people agreed Sunanda Pushkar was found dead in a five-star hotel room, which police believe is a case of suicide. IIFCL signed MoU with EXIM Bank of Korea Published on: 18-J AN-2014 Important for Exam: 17 people agreed IIFCL signed an agreement with the K-EXIM for infrastructure finance and covers cooperation and investment financing related to infrastructure. EGoM approved the sale of 10% stake in IOC to ONGC and OIL Published on: 17-J AN-2014 Important for Exam: 20 people agreed Empowered Group of Ministers (EGoM) approved on 16 J anuary 2014, the sale of 10 percent stake in IOC to ONGC and OIL. Guidelines on New Land Policy for Major Ports of the Country Released Published on: 17-J AN-2014 Important for Exam: 7 people agreed Union Shipping Ministry unveiled new policy guidelines for major ports aimed to leverage land resources for commercial advantage. RBI included Hong Kong and Macau in the sensitive list Published on: 16-J AN-2014 Important for Exam: 211 people agreed The Reserve Bank of India (RBI) included Hong Kong and Macau in the sensitive list. Wholesale Inflation declined to five-month low of 6.16 percent in December 2013 Published on: 16-J AN-2014 Important for Exam: 20 people agreed The WPI declined to 6.16 percent in December 2013 as compare to 7.52 percent in November 2013. Pawar-led GoM gave nod for incentives to Sugar Industry Published on: 16-J AN-2014 Important for Exam: 7 people agreed GoM led by Sharad Pawar has approved the incentives to the sugar industry for exports of up to 40 lakh tonnes of raw sugar for two years. Coal India Ltd declared dividend of 290 percent for 2013-14 Published on: 15-J AN-2014 Important for Exam: 21 people agreed Coal India Ltd (CIL) board declared a dividend of 290 percent to its shareholders for the financial year 2013-14 on 14 J anuary 2014. Sudan offered two oil and gas blocks to ONGC at Petrotech 2014 Published on: 15-J AN-2014 Important for Exam: 19 people agreed Oil-rich Sudan offered two oil and gas blocks to ONGC Videsh Limited (OVL) on the sidelines of Petrotech 2014. Consumer Retail Inflation declined to 9.87 percent in December 2013 Published on: 14-J AN-2014 Important for Exam: 19 people agreed Consumer Retail inflation came down in December 2013 to 9.87percent as against 11.16 percent in November 2013. NABARD reduced refinance rate for banks Published on: 14-J AN-2014 Important for Exam: 57 people agreed NABARD has reduced the refinance rates for the banks and other lending agencies by 0.20 percent to promote rural credit and rural infrastructure. IRDA issued guidelines for investment in Equity Exchange Traded Funds Published on: 13-J AN-2014 Important for Exam: 19 people agreed The IRDA allowed insurance companies to invest in Equity exchange traded funds and proposed guidelines for such investments. IRDA formed Suresh Mathur panel to suggest ways to improving FDI Published on: 13-J AN-2014 Important for Exam: 32 people agreed IRDA constituted Suresh Mathur Panel to suggest ways for improving FDI in insurance sector. Indian Economy GDP growth rate to be revised for 2011-12 Published on: 13-J AN-2014 Important for Exam: 20 people agreed India to revise GDP growth rate from 6.2 to 7 percent for 2011-12 to correct the anomaly in industrial output data. Bank of Japan and RBI concluded an agreement to raise BSA to 50 billion dollar Published on: 13-J AN-2014 Important for Exam: 47 people agreed BOJ and RBI concluded an agreement for expansion of the maximum amount of the Bilateral Swap Agreement (BSA) to 50 billion dollars. India's trade deficit narrowed to 10.1 billion dollar in December 2013 Published on: 11-J AN-2014 Important for Exam: 77 people agreed Export of India has grown 3.49 percent to 26.3 billion dollars and the imports dipped 15.25 percent to 36.4 billion dollar in December 2013. Government notified new natural Gas Pricing Formula Published on: 11-J AN-2014 Important for Exam: 19 people agreed Government has notified new natural gas pricing formulae to be in effect from 1 April. Rates of all domestically produced fuel will be almost doubled. Reserve Bank of India relaxed Foreign Direct Investment rules Published on: 10-J AN-2014 Important for Exam: 39 people agreed The Reserve Bank of India relaxed the rules of Foreign Direct Investment SEBI notified stricter Settlement System for serious offences Published on: 10-J AN-2014 Important for Exam: 18 people agreed SEBI notified a stricter set of settlement norms that entities charged with serious offences will not be able to settle these cases any more. Non-Compete Clauses onl y i n Special Cases in Pharma FDI Published on: 10-J AN-2014 Important for Exam: 10 people agreed DIPP has issued a press note restricting use of non-compete clauses in both Greenfield and Brownfield projects. Kelkar panel submitted report to Union Oil Ministry Published on: 10-J AN-2014 Important for Exam: 21 people agreed The Kelkar Committee submitted the first part of its report on 8 J anuary 2014. SEBI barred cash Transactions in Collective Investment Schemes to check laundering Published on: 10-J AN-2014 Important for Exam: 15 people agreed SEBI has made it compulsory for all investments into Collective Investment Scheme funds to be made through banking channels and not in cash. HSBC released Services Purchasing Managers Index (PMI) Published on: 09-J AN-2014 Important for Exam: 6 people agreed HSBC Services Purchasing Managers Index (PMI) released showing shrinking of Indian Services sector in December 2013. Coal Block allocation can be cancelled even if huge investments are made: SC Published on: 09-J AN-2014 Important for Exam: 18 people agreed Supreme Court said, failing to obtain necessary clearances will lead to revoke coal allocations of block although after high investments done. RBI relaxed Gold loan norms to lend up to 75 percent loan Published on: 09-J AN-2014 Important for Exam: 47 people agreed Reserve Bank of India has allowed the Non-Banking Financial Companies (NBFCs) to lend up to 75 percent of the value of gold. Supreme Court gave notice to the government to revive KG-basin gas Published on: 08-J AN-2014 Important for Exam: 9 people agreed The Supreme Court ordered the Government of India to revive the decision to double the price of K-G basin gas. Indias International Investment Position of Quarter ended September 2013 released Published on: 08-J AN-2014 Important for Exam: 17 people agreed RBI has released the statistical statement of the International Investment Position (IIP) of the quarter ended in September 2013. China to be become a partner in the proposed NIMZ in Andhra Pradesh Published on: 07-J AN-2014 Important for Exam: 89 people agreed China to be become a partner in the proposed NIMZ in Andhra Pradesh Reserve Bank of India selected CCIL as Legal Entity Identifier Published on: 07-J AN-2014 Important for Exam: 77 people agreed The Reserve Bank of India (RBI) selected the Clearing Corporation of India Ltd (CCIL) as legal entity identifiers (LEIs) on 6 J anuary 2014. RBI allowed Indian companies to issue non- convertible debentures Published on: 07-J AN-2014 Important for Exam: 31 people agreed RBI has allowed the Indian companies to issue non-convertible or redeemable preference shares or debentures to non-resident shareholders as bonus. Mergers & Acquisitions declined by 11.5 percent in 2013 Published on: 04-J AN-2014 Important for Exam: 18 people agreed Merger & Acquisitions (M & A) in the India economy declined by 11.5% in the year 2013. India signed a Credit Agreement with World Bank for RRSMP Published on: 04-J AN-2014 Important for Exam: 45 people agreed India has signed a credit agreement of 160 million dollar with World Bank. The agreement was signed for Rajasthan Road Sector Modernisation Project. Financial Inclusix Index 2013 launched by credit rating agency CRISIL Published on: 03-J AN-2014 Important for Exam: 84 people agreed Indian credit-rating agency CRISIL launched a Financial Inclusix Index 2013 on 2 J anuary 2014. Price of the Non-subsidized LPG hiked by 220 rupees per cylinder Published on: 02-J AN-2014 Important for Exam: 27 people agreed The price of non-subsidized LPG hiked by 220 rupees per cylinder. A household is entitled for nine subsidized LPG cylinder at present. Finance Minister asked financial sector regulators to implement FSLRC proposals Published on: 31-DEC-2013 Important for Exam: 263 people agreed Union Finance minister told the regulators to implement FSLRC report. 8TH Financial Stability Report released by RBI Published on: 31-DEC-2013 Important for Exam: 149 people agreed 8TH Financial Stability Report (FSR) released by the Reserve Bank of India (RBI). CIIs Business Confidence Index revealed signs of economic turnaround Published on: 31-DEC-2013 Important for Exam: 16 people agreed CIIs Business Confidence Index revealed signs of economic turnaround with downside risks. PPPAC-a high level committee has appraised five Port Projects Published on: 30-DEC-2013 Important for Exam: 18 people agreed PPPAC-a high level committee of the Government has appraised five proposals in Port Sector, which will be recommended for final approval to CCEA. CCEA nod for guidelines to provide aid to sugar industry for payment of cane price arrears Published on: 26-DEC-2013 Important for Exam: 8 people agreed CCEA approved the guidelines for providing financial assistance to the sugar industry for payment of cane price arrears. RBI launched Inflation Indexed Saving Bonds Published on: 26-DEC-2013 Important for Exam: 90 people agreed RBI has launched an inflation indexed saving bonds that offers protection to retail investors from price rise. Direct transfer of Cash subsidy on kerosene to be launched soon Published on: 24-DEC-2013 Important for Exam: 57 people agreed Cash subsidy on kerosene to be launced soon by government of India. CRISIL said Fiscal deficit to touch 5.2% in FY14 Published on: 24-DEC-2013 Important for Exam: 101 people agreed Fiscal deficit to touch 5.2% in FY2014 : Report by CRISIL. Public Sector Banks directed by the Union Finance Ministry to act as Insurance Brokers Published on: 24-DEC-2013 Important for Exam: 30 people agreed The finance Ministry on 23 December 2013 directed public sector banks (PSBs) to act as insurance brokers from 15 J anuary 2014. 5 percent growth in Indirect tax collections during April-November period Published on: 23-DEC-2013 Important for Exam: 10 people agreed 5 percent growth in indirect tax collection during 8 months of 2013. Net Direct Tax Collection increased by 13.7% till 20 December of FY 2013-14 Published on: 22-DEC-2013 Important for Exam: 2 people agreed The net direct tax collection increased by 13.7% to reach 4.12 lakh crore rupees till December 20, 2013 of the current fiscal year 2013-14. Cabinet approved Free Trade Agreement with ASEAN Published on: 21-DEC-2013 Important for Exam: 35 people agreed The Cabinet approved free trade agreement between India and the Association of South East Asian Nations (ASEAN) on 19 December 2013. CCEA allowed CIL to pump gas from CBM mines Published on: 20-DEC-2013 Important for Exam: 15 people agreed CCEA allowed CIL to pump Coal Bed Methane from coal mines. CCEA allowed RIL to sell gas at higher price with bank guarantee Published on: 20-DEC-2013 Important for Exam: 10 people agreed CCEA allowed RIL to sell gas at higher price with bank guarantee from 1 April 2014. SEBI laid out the Deposit Requirements for members of the Debt Segment Published on: 20-DEC-2013 Important for Exam: 15 people agreed SEBI has laid out the minimum deposit requirements for members in debt segment of the stock exchanges. CCEA approved Sale of Natural Gas from D1 and D3 Gas Fields at revised prices Published on: 20-DEC-2013 Important for Exam: 2 people agreed CCEA approved the sale of Natural Gas from D1 and D3 Gas fields at revised prices on the basis of Bank Guarantee. CCEA approved 6600 crore rupees free loan to Sugar Industry Published on: 20-DEC-2013 Important for Exam: 20 people agreed The Cabinet Committee on Economic Affairs (CCEA) approved 6600 crore rupees interest-free loans to cash starved sugar industry on 19 December 2013. RBI and Bank of Japan agreed to triple the currency swap agreement to 50 billion dollar Published on: 19-DEC-2013 Important for Exam: 36 people agreed Currency swap agreement between India and J apan enhanced to 50 billion dollars from 15 billion dollars. SEBI exempted Government from making open offer to IOB shareholders Published on: 19-DEC-2013 Important for Exam: 27 people agreed SEBI exempted the Government from making an offer to public shareholders for acquiring the shares of the Indian Overseas Bank (IOB). Repo Rate kept unchanged by RBI in Mid-Quarter Monetary Policy Review Published on: 18-DEC-2013 Important for Exam: 61 people agreed Repo Rate kept unchanged by RBI in Mid-Quarter Monetary Policy Review announced on 18 December 2013. Wholesale Inflation increased to 7.52 percent in November 2013 Published on: 18-DEC-2013 Important for Exam: 12 people agreed The Inflation in India reached 7.52 percent, the highest in 14 months since September 2012. The Central Board of the Reserve Bank of India met in Kolkata Published on: 15-DEC-2013 Important for Exam: 8 people agreed The Central Board of Reserve Bank met at Kolkata and was chaired by the Governor of Reserve Bank of India, Raghuram G. Rajan. Indias trade deficit with China touched 11-month high of 29.5 billion dollar Published on: 14-DEC-2013 Important for Exam: 2 people agreed Indias trade deficit with China touched a record 29.5 billion dollar in the period J anuary 2013 to November 2013. Inflation soared up to 11.24%, industrial production shrank to 1.8% Published on: 13-DEC-2013 Important for Exam: 1 people agreed Retail Inflation increased to 11.24% and Industry Output falls to 1.8% in October 2013. The Ragarajan Panel recommended the guidelines for Highway sector Published on: 13-DEC-2013 Important for Exam: 8 people agreed The Rangarajan panel recommended the guidelines and the task of implementation lie with the National Highway Authority of India (NHAI). Justice Sodhi Committee on Insider Trading Regulations submitted report to SEBI Published on: 12-DEC-2013 Important for Exam: 12 people agreed The High Level Committee to Review the SEBI (Prohibition of Insider Trading) Regulations, 1992 submitted its report to SEBI Chairman. India exports grew by 5.86 percent and imports dip by 16.3 percent in November 2013 Published on: 11-DEC-2013 Important for Exam: 30 people agreed Exports of India in November 2013 grew by 5.86 percent and reached 24.6 billion dollars and the imports fell by 16.37 percent to 33.83 billion dollars. Mauritius-India agreed to include Limitation of Benefits clause in revised Tax Treaty Published on: 11-DEC-2013 Important for Exam: 9 people agreed Mauritius and India agreed to include limitation of benefits clause in revised tax treaty. Reserve price for Spectrum Auction in 1800 MHz and 900 MHz Bands got Union Cabinet approval Published on: 10-DEC-2013 Important for Exam: 21 people agreed Union Cabinet has approved the finalization of the reserve price for auction of spectrum in 1,800 Megahertz band for all service areas in the country. Government of India Modified FDI Policy for unlisted Companies Published on: 07-DEC-2013 Important for Exam: 12 people agreed The Government of India on 6 December 2013 modified the FDI policy allowing unlisted companies to directly list on stock exchanges abroad. Ministerial Panel recommended bailout package to Sugar Industry Published on: 07-DEC-2013 Important for Exam: 37 people agreed A ministerial panel has recommended a bailout of 7200 crore rupees to sugar mills. The loan will be provided to pay off the arrears of cane growers. RBI eased Companies' Foreign Funding Norms for Infra Projects Published on: 04-DEC-2013 Important for Exam: 118 people agreed Reserve Bank of India on 3 December 2013 eased norms for companies raising foreign funds for infrastructure projects. EGoM approved Merger and Acquisition Guidelines for Telecom Sector Published on: 04-DEC-2013 Important for Exam: 2 people agreed Empowered Group of Ministers headed by Finance Minister P Chidambaram, approved the guidelines on telecom merger and acquisition on 3 December 2013. Current Account Deficit falls to 5.2 billion dollars in the Jul y-September quarter of 2013-14 Published on: 03-DEC-2013 Important for Exam: 5 people agreed India's Current Account Deficit narrowed sharply to 5.2 billion dollars or 1.2 percent of GDP in the J uly-September quarter of 2013-14. RBI relaxed the norms for participation of NBFCs in Insurance Joint Ventures Published on: 29-NOV-2013 Important for Exam: 87 people agreed RBI has relaxed the norms for participation of Non-Banking Finance Companies in the insurance joint ventures. RBI to banks: Charge customers on actual usage of SMS alerts Published on: 27-NOV-2013 Important for Exam: 10 people agreed The RBI has directed the banks to charge customers for the transaction SMS alerts on the basis of usage, instead of imposing a fixed fee. RBI decided to include Medium Manufacturing Enterprises under Priority Sector Published on: 27-NOV-2013 Important for Exam: 19 people agreed Reserve Bank of India on 26 November 2013 allowed banks to treat loans given to medium manufacturing enterprises as priority sector advance. RBI widened definition of Infrastructure lending Sub Category Published on: 26-NOV-2013 Important for Exam: 2 people agreed Reserve Bank of India on 25 November 2013 widened the definition of infrastructure lending sub category in a bid to expedite Projects. CCEA approved continuation of Agriculture Export Plan of APEDA Published on: 26-NOV-2013 Important for Exam: 4 people agreed The CCEA approved the continuation of the Agriculture Export Promotion Plan Scheme of the APEDA during 12th Plan Period. National Innovation Council got approval of 75 percent Innovation Fund Corpus Published on: 22-NOV-2013 Important for Exam: 2 people agreed The NInC got approval of 75 percent of the 500 crore rupees initial corpus of the upcoming India Innovation Fund (IIIF). RBI Directed Public Sector Banks to give loans to women SHGs at 7 percent Published on: 20-NOV-2013 Important for Exam: 5 people agreed RBI on 19 November 2013 directed Public Sector Banks (PSBs) to provide loans to women Self-Help Groups (SHGs) at 7 per cent per annum. Government approved twenty proposals of Foreign Direct Investment Published on: 20-NOV-2013 Important for Exam: 2 people agreed The Government of India approved 20 proposals of FDI that amounts 915.83 crore rupees on the recommendation of FIPB. Bharati ya Mahila Bank launched by Prime Minister of India Published on: 20-NOV-2013 Important for Exam: 27 people agreed PM Manmohan Singh and UPA Chairperson, Sonia Gandhi inaugurated Indias first all-women bank, Bharatiya Mahila Bank in Mumbai on 19 November 2013. Reserve Bank of India extended a refinance window of 5000 crore for the MSME Published on: 19-NOV-2013 Important for Exam: 5 people agreed RBI has opened a refinance window of 5000 crore rupees for the MSME sector. The facility has been planned to ease the liquidity of MSMEs. Election Commission allowed the launch of 1st all - women Bharati ya Mahila Bank Published on: 19-NOV-2013 Important for Exam: 3 people agreed The Election Commission has allowed the launch of the first all women Bharatiya Mahila Bank in the country. Government announced the Provision for Higher Sugar Export Published on: 16-NOV-2013 Important for Exam: 42 people agreed Government announced the provision of higher export of sugar with domestic becoming surplus. Government Introduced Risk Management System (RMS) for Trade Facilitation in Export Sector Published on: 13-NOV-2013 Important for Exam: 65 people agreed Union Finance Minister P. Chidambaram was on 13 November 2013 inaugurated the IT based Risk Management System for the Customs clearance of export goods. Industrial production grew by 2 percent in September 2013 Published on: 13-NOV-2013 Important for Exam: 28 people agreed The Industrial Production of India has grown by 2 percent in September 2013 mainly on account of better performance by power and mining sector. RBI allowed third-party payment for Export and Import Transactions Published on: 09-NOV-2013 Important for Exam: 101 people agreed The RBI has allowed third party payment for the export and import transactions taking into account the evolving international trade procedure. Gross Direct Tax Collections during April-October in 2013-14 up by 11.58 Percent Published on: 07-NOV-2013 Important for Exam: 52 people agreed The Gross Direct Tax during the April to October 2013-14 Financial Year has gone up by 11.58 percent and stood at 337907 crore rupees. RBI permitted foreign banks subsidiaries to acquire domestic private sector banks Published on: 07-NOV-2013 Important for Exam: 58 people agreed The Reserve Bank of India permitted Wholly Owned Subsidiaries of the foreign banks to acquire the domestic private sector banks. FDI inflows into the Service Sector declined by 47.5 Percent Published on: 05-NOV-2013 Important for Exam: 74 people agreed FDI inflows into the service sector declined by 47.5 percent to 1.19 billion US dollars during the April-August 2013 period Government decided to extend the sale of 5 kg LPG cylinders at petrol pumps Published on: 05-NOV-2013 Important for Exam: 59 people agreed The Government has decided to extend the sale of the non-subsidized 5 kg LPG cylinders at petrol pumps across India. Bhubaneswar and Imphal airports were Declared as International Airports Published on: 31-OCT-2013 Important for Exam: 124 people agreed The Union Cabinet of India on 30 October 2013 gave its approval for declaring the Bhubaneswar and Imphal airports as international airports CCEA approved the launch of the IPDS for Textiles Industry Published on: 31-OCT-2013 Important for Exam: 63 people agreed The CCEA approved the launching of the new IPDS during the 12th five year plan to address the environmental concerns faced by textile units. RBI Allowed Banks to Revise Periodicity of Interest Payments Published on: 29-OCT-2013 Important for Exam: 234 people agreed The Reserve Bank of India on 29 October 2013 allowed the commercial banks to revise the periodicity of interest payments. Reserve Bank of India Increased the Repo Rate by 25 Basis Points to 7.75 %from 7.50% Published on: 29-OCT-2013 Important for Exam: 222 people agreed The Reserve Bank of India (RBI) on 29 October 2013 released the Second Quarter Review of Monetary Policy 2013-14 India's Foreign Exchange Reserves jumped to 281.12 Billion US Dollars Published on: 26-OCT-2013 Important for Exam: 29 people agreed India's foreign exchange reserves touched 281.12 billion dollars in the week ended on 25 October 2013 India Signed Pact with World Bank for Uttar Pradesh Water Sector Restructuring Project Published on: 26-OCT-2013 Important for Exam: 32 people agreed India on 25 October 2013 signed an agreement with World Bank for credit of 360 million US dollar for 2nd phase of UP Water Sector Restructuring Project. India's Foreign Exchange Reserves touched 279.24 Billion US Dollars Published on: 20-OCT-2013 Important for Exam: 63 people agreed India's foreign exchange (forex) reserves gained 1.51 billion US dollars to touch 279.24 billion US dollars for the week ended 11 October 2013 CCEA increased the Minimum Support Price of Wheat by 50 Rupees per Quintal Published on: 17-OCT-2013 Important for Exam: 58 people agreed CCEA enhanced the Minimum Support Price (MSP) of wheat by 50 rupees per quintal to 1400 rupees Total Broadband Subscriber Base in India increased to 15.24 Million Published on: 15-OCT-2013 Important for Exam: 24 people agreed Total Broadband subscriber base in India increased from 15.19 million at the end of J une 2013 to 15.24 million at the end of J uly 2013 Inflation Increased to 6.46 percent in September 2013; Highest in Seven Months Published on: 15-OCT-2013 Important for Exam: 58 people agreed Wholesale Price Index (WPI) for all commodities in the month of September 2013 stood at 6.46 percent as compared to 6.1percent in August 2013 Total Number of Telecom Subscribers increased to 904.46 Million Published on: 13-OCT-2013 Important for Exam: 27 people agreed Telecom Regulatory Authority of India released the latest telecom subscription data on 31 J uly 2013 China and EU Signed a Bilateral Currency Swap Agreement Published on: 11-OCT-2013 Important for Exam: 85 people agreed China on 10 October 2013 signed a 350-billion-yuan (45 billion Euro) currency swap agreement with the European Union IFC Launched 1 Billion Dollar offshore Rupee Bond Programme to Strengthen Indias Capital Markets Published on: 10-OCT-2013 Important for Exam: 37 people agreed IFC on 7 October 2013 launched a 1 billion Dollars offshore bond programme to strengthen Indias capital markets and attract greater foreign investment. Indian Railways Carried 511.00 Million Tonnes of Freight During AprilSeptember 2013 Published on: 10-OCT-2013 Important for Exam: 14 people agreed Indian Railways carried 511.00 million tonnes of revenue earning freight traffic during the first half of fiscal 2013 India and Japan Signed MoU to study Mumbai - Ahmedabad Rail Route Published on: 09-OCT-2013 Important for Exam: 83 people agreed India and J apan on 9 October 2013 signed MoU to do a joint feasibility study of High Speed Railway system on the Mumbai-Ahmedabad route Trade Deficit for April-September, 2013-14 Estimated at 80126.24 Million US Dollars Published on: 09-OCT-2013 Important for Exam: 37 people agreed India's Exports during September, 2013 were valued at 27679.33 million US dollars Direct Tax Collection increased by 10.66 Percent to 301250 Crore Rupees Published on: 08-OCT-2013 Important for Exam: 35 people agreed Gross collection from direct taxes increased by 10.66 percent to 301250 crore rupees in April-September period in 2013 Railway Revenue Earnings were 65354.64 Crore Rupees during April-September 2013 Published on: 08-OCT-2013 Important for Exam: 11 people agreed The total approximate earnings of Indian Railways on originating basis during 1April to 30 September 2013 were 65354.64 crore rupees RBI reduced the MSF Rate to 9 Percent from 9.5 Percent Published on: 08-OCT-2013 Important for Exam: 112 people agreed The Reserve Bank of India (RBI) on 7 October 2013 reduced the Marginal Standing Facility (MSF) rate to 9 per cent from 9.5 per cent India's Forex Reserves dropped by 1.11 Billion US Dollars to 276.26 Billion US Dollars Published on: 06-OCT-2013 Important for Exam: 16 people agreed India's foreign exchange (forex) reserves fell by 1.11 billion US dollars to 276.26 billion US dollars for the week ended on 27 September 2013 SEBI approved Major Reforms to Attract Overseas Investors Published on: 06-OCT-2013 Important for Exam: 52 people agreed SEBI on 5 October 2013 ushered in major reforms to attract overseas investors RBI fixed the Reference Rate of Rupee against US Dollar at 61.4050 Published on: 05-OCT-2013 Important for Exam: 112 people agreed The Reserve Bank of India on 4 October 2013 fixed the reference rate of rupee against US dollar at 61.4050 CCEA approved National Mission on Oilseeds and Oil Palm Published on: 04-OCT-2013 Important for Exam: 26 people agreed The Cabinet Committee on Economic Affairs on 3 October 2013 approved the implementation of the National Mission on Oilseeds and Oil Palm CCEA Approved for Continuation of Integrated Textile Parks Scheme in 12th Five Year Plan Published on: 04-OCT-2013 Important for Exam: 21 people agreed Cabinet Committee on Economic Affairs (CCEA) on 3 October 2013 approved continuation of the scheme for Integrated Textile Parks in the 12th five year plan. Jet-Etihad deal Approved by SEBI (Securities Exchange Board of India) Published on: 01-OCT-2013 Important for Exam: 173 people agreed J et-Etihad deal was approved by SEBI (Securities Exchange Board of India) on 1 October 2013 The Government notified GAAR (General Anti Avoidance Rules) Published on: 27-SEP-2013 Important for Exam: 166 people agreed The Union government of India on 26 September 2013 notified GAAR (General Anti Avoidance Rules) RBI Banned Zero Percent Interest Rate Schemes for Purchase of Consumer Goods Published on: 26-SEP-2013 Important for Exam: 145 people agreed Reserve Bank of India on 25 September 2013 banned zero per cent interest rate schemes for purchase of consumer goods. CCEA approved the Methodology for Coal Block Auction Published on: 25-SEP-2013 Important for Exam: 26 people agreed CCEA on 24 September 2013 approved the methodology for auction by competitive bidding of the coal blocks RBI relaxed Trade Credit Norms to raise Funds from Abroad Published on: 25-SEP-2013 Important for Exam: 87 people agreed The Reserve Bank of India on 24 September 2013 relaxed trade credit norms to raise funds from abroad Cabinet Committee on Economic Affairs Took Steps For Operationalisation of Infrastructure Debt Funds Published on: 25-SEP-2013 Important for Exam: 36 people agreed The Cabinet Committee on Economic Affairs on 23 September 2013 took some steps to promote the operationalisation of Infrastructure Debt Funds (IDFs). RBI Announced Committee to Frame Vision for Financial Inclusion Published on: 24-SEP-2013 Important for Exam: 114 people agreed RBI on 23 September 2013 announced the appointment of a Committee on Comprehensive Financial Services for Small Businesses and Low- Income Households. Foundation of MEMU Coach Factory was laid at Bhilwara Published on: 23-SEP-2013 Important for Exam: 41 people agreed The foundation stone of MEMU Coach Factory was laid on 22 September 2013 at Bhilwara, Rajasthan RBI Increased the Repo Rate by 25 Basis Points, MSF Rate Brought Down Published on: 21-SEP-2013 Important for Exam: 361 people agreed RBI on 20 September 2013 increased the repo rate or the short term lending rate by 25 basis points to 7.5 per cent from 7.25 per cent with immediate effect. RBI liberalised norms for banks to open branches in Tier I cities Published on: 20-SEP-2013 Important for Exam: 166 people agreed Reserve Bank of India (RBI) on 19 September 2013 announced that banks can open their branches in tier 1 centers without taking its permission in each case. Bharti ya Mahila Bank Started Recruitment Process Published on: 19-SEP-2013 Important for Exam: 589 people agreed Bhartiya Mahila Bank, the first nationalised bank for women expected to be operational from November 2013. India and Latvia signed agreement on Double Tax Avoidance Agreement Published on: 19-SEP-2013 Important for Exam: 93 people agreed The Government of India signed an agreement with Latvia on Double Tax Avoidance Agreement (DTAA). Net direct tax collections increased by 12.5 percent for the current financial year Published on: 19-SEP-2013 Important for Exam: 106 people agreed Net direct tax collections increased by 12.5 percent for the current financial year Union Minister of Finance Announced Austerity Measures to Contain Rising Fiscal Deficit Published on: 19-SEP-2013 Important for Exam: 40 people agreed P. Chidambaram on 18 September 2013 announced strictness measures such as a slash in the non-plan expenditure by 10 percent to contain fiscal deficit. Inflation Increased to 6.1 percent in August 2013; Highest in Six Months Published on: 19-SEP-2013 Important for Exam: 31 people agreed Inflation Increased to 6.1percent in August 2013; Highest in Six Months Union Government of India Hiked the Import Duty on Gold Published on: 18-SEP-2013 Important for Exam: 116 people agreed The Union Government of India hiked the import duty on gold from 10 percent to 15 percent RBI appealed against currency garlands Published on: 17-SEP-2013 Important for Exam: 95 people agreed public not to use bank notes for making garlands Union Government slashed Import Tariff Value of Gold and Silver Published on: 16-SEP-2013 Important for Exam: 31 people agreed The Union Government has further slashed the import tariff value of gold to 432 dollars per 10 grams and silver to 736 dollars per kilogram. SEBI relaxed KYC norms for foreign investors Published on: 13-SEP-2013 Important for Exam: 166 people agreed Securities and Exchange Board of India (SEBI) on 12 September 2013 issued the new Guideline to make Know Your Client requirements (KYC). Industrial output increased by 2.6 percent in Jul y 2013 Published on: 13-SEP-2013 Important for Exam: 64 people agreed Index of Industrial Production (IIP) with base year (2004-2005=100) released the data on Industrial output on 12 September 2013. Cabinet approved the proposal to invest 4.3 Billion $ in the World Bank Bonds Published on: 13-SEP-2013 Important for Exam: 102 people agreed Union Cabinet approved a proposal to invest in the bonds of the World Bank Group. It also approved proposal to set two semiconductor manufacturing facilities. Economic Outlook 2013-14 Released:Economy to Grow at 5.3 Percent in 2013-14 Published on: 13-SEP-2013 Important for Exam: 80 people agreed The Economic Advisory Council to the Prime Minister on 13 September 2013 released the document Economic Outlook 2013-14 CCEA allocated Additional Five Million Tonnes of Foodgrains to BPL Families Published on: 13-SEP-2013 Important for Exam: 18 people agreed CCEA approved an additional allocation of five million tonnes of foodgrains to families below the poverty line (BPL) RBI constituted Expert Committee to revise and strengthen Monetary Policy Framework Published on: 13-SEP-2013 Important for Exam: 121 people agreed RBI has constituted an expert committee to examine its Current Monetary Policy Framework. It will be headed by Dr. Urjit Patel. The Government Notified Changes in the FDI Policy Published on: 12-SEP-2013 Important for Exam: 54 people agreed The Union Government of India on 10 September 2013 notified changes in the FDI policy Russia Lifted Ban on Import of Non-Basmati Rice and Oilseeds from India Published on: 11-SEP-2013 Important for Exam: 72 people agreed Russia lifted the ban on import of non-basmati rice from India on 10 September 2013. It also lifted the ban on the oilseeds. Forward Markets Commissions Administrative Control shifted to Finance Ministry Published on: 10-SEP-2013 Important for Exam: 82 people agreed The control of Forward Markets Commission was transferred to Ministry of Finance from Department of Consumer Affairs under the Ministry of Food. Currency Swap Arrangement with Japan enhanced to 50 billion US dollar Published on: 10-SEP-2013 Important for Exam: 67 people agreed Bilateral Currency Swap Arrangements between India and J apan expanded to 50 billion US dollars. SEBI barred 34 entities of Capital Market for Fraudulent Dealings Published on: 09-SEP-2013 Important for Exam: 45 people agreed SEBI barred 34 entities from the capital market for fraudulent dealings in the shares of 12 companies. Sunil Mehta was the main conspirator. India's Onion Exports fell Sharpl y by 81 Percent in August 2013 Published on: 09-SEP-2013 Important for Exam: 20 people agreed India's onion exports fell sharply by 81 percent to 29247 tonnes in August 2013 as compared with August 2012 RBI issued norms for Currency Swap Window Published on: 09-SEP-2013 Important for Exam: 180 people agreed The norms related to Currency Swap Window were issued by the Reserve Bank of India in Mumbai. Currency Swap facility will be available to Scheduled Banks. RBI Revised Gold Import Norms to Contain CAD Published on: 07-SEP-2013 Important for Exam: 179 people agreed To contain the current account deficit, RBI announced some measures to curb the demand for gold in the month of September 2013... RBI allowed the Non-Resident Investors to buy Shares under FDI Scheme Published on: 07-SEP-2013 Important for Exam: 100 people agreed RBI allowed Non-Resident Investors to purchase shares of Indian entities Under FDI Scheme. They can buy shares from listed stock exchanges. RBI introduced Forex Swap Window for Public Sector Oil Marketing Companies Published on: 31-AUG-2013 Important for Exam: 202 people agreed Forex Swap Window for Public Sector Oil Marketing Companies introduced by RBI. This will help the oil companies in meeting daily $ requirements. Indias GDP Dropped to 4.4 Percent; Lowest in 4 Years Published on: 31-AUG-2013 Important for Exam: 152 people agreed The Gross Domestic Product (GDP) growth of India decelerated even more to 4.4 percent, the slowest rate of expansion since 2008 economic meltdown. RBI allowed premature encashment of 8% Savings Bonds for Investors above 60 Published on: 31-AUG-2013 Important for Exam: 117 people agreed RBI permitted premature encashment of 8% savings of taxable bonds for investors of 60 years and above. CCEA approved Continuation of Technology Upgradation Fund Scheme Published on: 30-AUG-2013 Important for Exam: 31 people agreed Cabinet Committee on Economic Affairs gave its approval for continuing the Technology Upgradation Fund Scheme during the 12th Plan period CCI cleared stalled Infra Projects worth 1.83 Lakh Crore Rupees Published on: 29-AUG-2013 Important for Exam: 51 people agreed The Cabinet Committee on Investment (CCI) on 26 August 2013 cleared 36 projects worth 1.83 lakh crore rupees. RBI Released the Discussion Paper on Banking Structure in India The Way Forward Published on: 28-AUG-2013 Important for Exam: 210 people agreed The Reserve Bank of India on 27 August 2013 released the Discussion Paper on Banking Structure in India The Way Forward. The Number of Foreign Tourists in India increased to 207.31 Lakh in 2012 Published on: 27-AUG-2013 Important for Exam: 38 people agreed The number of foreign tourists visiting India has shown a steady increase in the past three years RBI announced auction of two 48-days Government of India Cash Management Bills Published on: 25-AUG-2013 Important for Exam: 130 people agreed RBI announced auction of two 48-days Government of India Cash Management Bills worth 22000 crore rupees. RBI imposed Monetary Penalty on 6 Banks for violation of KYC Guidelines Published on: 25-AUG-2013 Important for Exam: 130 people agreed The Reserve Bank of India imposed monetary penalty on six banks for violation of the Know Your Customer (KYC)/Anti Money Laundering guidelines. RBI Further relaxed SLR to provide More Funds to Banks for Lending Published on: 21-AUG-2013 Important for Exam: 195 people agreed The Reserve Bank of India (RBI) further relaxed the Statutory Liquidity Ratio (SLR) Government of India Banned Duty-Free Import of Flat Screen TVs by Air Travellers Published on: 20-AUG-2013 Important for Exam: 56 people agreed The Union Government of India on 19 August 2013 banned duty-free import of flat screen televisions by people who travel through air. Gold Prices hit Eight-Month High at 31760 Rupees Published on: 18-AUG-2013 Important for Exam: 27 people agreed Gold price on 17 August 2013 jumped by 700 rupees in Kolkata after stocks and money markets melted Government imposed MEP of 650 US Dollars per Tonne on Onion Published on: 17-AUG-2013 Important for Exam: 39 people agreed Government on 17 August 2013 notified imposition of a minimum export price (MEP) of 650 US dollars per tonne Import Duty on Gold, Silver & Platinum hiked to 10 Percent by Central Government Published on: 16-AUG-2013 Important for Exam: 67 people agreed The Central Government on 13 August 2013 raised customs duty on gold, silver and platinum to 10 percent in a bid to curb the burgeoning Current Account Deficit. Union Cabinet approved Setting up of Tax Administration Reform Commission Published on: 16-AUG-2013 Important for Exam: 68 people agreed The Union Cabinet on 13 August 2013 approved the proposal for setting up of the Tax Administration Reform Commission to establish a stable tax administration. Indian Railways Carried 343 Million Tonnes of Freight during AprilJul y 2013 Published on: 13-AUG-2013 Important for Exam: 15 people agreed As per the data released by Ministry of Railways on 13 August 2013, Indian Railways carried 343 million tonnes of freight India's Exports during Jul y 2013 were valued at 25834.46 Million US Dollars Published on: 12-AUG-2013 Important for Exam: 47 people agreed India's exports in J uly 2013 were valued at 25834.46 million US dollars Railway Revenue Earnings up by 10.74 Per Cent during April-Jul y 2013 Published on: 12-AUG-2013 Important for Exam: 19 people agreed The total approximate earnings of Indian Railways on originating basis during 1 April to 31 J uly 2013 were 44260.16 crore rupees India's Foreign Exchange Reserves went down to 277.167 billion US dollars Published on: 10-AUG-2013 Important for Exam: 73 people agreed Foreign exchange reserves of India has fallen by 2.995 billion US dollars to 277.167 billion US dollars. RBI announced Weekl y Sale of Government Bonds to Check Fall in Rupee Price Published on: 10-AUG-2013 Important for Exam: 187 people agreed RBI has decided to sell Government Bonds worth 22000 crore rupees every Monday to check volatility in the foreign exchange market. CCEA approved export of additional 2 million tonnes of Wheat Published on: 09-AUG-2013 Important for Exam: 37 people agreed CCEA on 8 August approved export of additional 2 million tonnes of wheat from godowns of FCI. Foreign Investment Promotion Board Cleared 12 FDI Proposals Worth 343 Crore Rupees Published on: 07-AUG-2013 Important for Exam: 47 people agreed The Government of India cleared 12 FDI proposals worth 343 crore rupees. 3 proposals were rejected and 6 proposals were kept in abeyance. The Union Government of India Slashed Customs Duty on Import of Rice Bran Published on: 06-AUG-2013 Important for Exam: 52 people agreed Customs Duty on the import of rice bran and rice bran oil cake was scraped completely by the Government through notification in August 2013. CCEA approved continuation of Rajiv Gandhi Grameen Vidyutikaran Yojana in 12th Plan Published on: 05-AUG-2013 Important for Exam: 126 people agreed Proposal of the Ministry of Power for continuation of the RGGVY during the 12th Plan period was approved by the CCEA. Cabinet cleared Disinvestment of 10 percent in Indian Oil Corporation Published on: 03-AUG-2013 Important for Exam: 33 people agreed The CCEA on 1 August 2013 approved the proposal for sale of 10 percent Government stake in Indian Oil Corporation (IOC). CCEA approved Creation of the Special National Investment Fund Published on: 03-AUG-2013 Important for Exam: 57 people agreed CCEA approved the creation of the Special National Investment Fund. Its objective is to meet the minimum public shareholding of 10% in 6 CPSEs. Union Cabinet to continue Interest Subvention of 3 Percent on Crop Loans to Farmers Published on: 02-AUG-2013 Important for Exam: 37 people agreed The Union Cabinet of India on 2 August 2013 decided to continue the interest subvention of three per cent on crop loans. FDI to increase in Print Media from 26 Percent to 49 Percent Published on: 02-AUG-2013 Important for Exam: 77 people agreed INS on 2 August 2013 approved a proposal to increase FDI from 26 percent to 49 percent in print media. Government eased the Norms for FDI in Multi-Brand Retail Published on: 02-AUG-2013 Important for Exam: 46 people agreed Union Cabinet eased the FDI norms for multi-brand retail chains. It also widened the scope of the definition of terms, Small and Control. The Rate of Interest Subvention Scheme for Exports Increased to Three Percent Published on: 01-AUG-2013 Important for Exam: 56 people agreed The Union government of India on 31 J uly 2013 decided to enhance the rate of interest subvention scheme for exports. RBI released the First Quarter Review of Monetary Policy for 2013-14 Published on: 30-J UL-2013 Important for Exam: 388 people agreed RBI released the First Quarter Review of Monetary Policy for 2013-14 on 30 J uly 2013. India, Saudi Arabia decided to set up Saudi-Indian Business Network (SIBN) in Ri yadh and Dammam Published on: 26-J UL-2013 Important for Exam: 107 people agreed India and Saudi Arabia on 24 J uly 2013 have decided to set up a Saudi- India Business Network (SIBN) separately in Riyadh and Dammam. India achieved a Record Production of Pulses Published on: 23-J UL-2013 Important for Exam: 44 people agreed India achieved a record production of 18.45 million tonnes of pulses in the 2012-13 crop year ended J une 2013. RBI reduced Realisation Period for Exporters to Nine Months Published on: 23-J UL-2013 Important for Exam: 99 people agreed The Reserve bank of India on 21 J uly 2013 brought down the period of realisation of goods and software to nine months from earlier 12 months. Reserve Bank of India imposed Restrictions on Imports of Gold Published on: 23-J UL-2013 Important for Exam: 87 people agreed The Reserve Bank of India on 22 J uly 2013 imposed certain restrictions on the import of various forms of gold. Revived New Bhopal Textile Mills of National Textile Corporation Inaugurated Published on: 23-J UL-2013 Important for Exam: 19 people agreed The Union Minister of Textiles, K Sambasiva Rao on 22 J uly 2013 inaugurated the New Bhopal Textile Mills of NTC in Bhopal. President of India promulgated the Securities Laws (Amendment) Ordinance 2013 Published on: 21-J UL-2013 Important for Exam: 75 people agreed Securities Law Amendment Ordinance 2013 was promulgated by Pranab Mukherjee to provide powers to SEBI to tackle with fraudulent investment schemes. ICAR and the Industry to Commercialize Agri- Technologies Signed more than 60 MoUs Published on: 21-J UL-2013 Important for Exam: 20 people agreed ICAR and the Industry to Commercialize Agri-Technologies signed more than 60 MoUs on Agriculture. The MoUs were signed during, Agri-Tech Investors Meet 2013. RBI:Indias Foreign Exchange Reserves increased to 280.19 Billion US Dollars Published on: 20-J UL-2013 Important for Exam: 65 people agreed RBI on 20 J uly 2013 stated that Indias foreign exchange reserves increased by 21.1 million US dollars. India signed agreement with Asian Development Bank for 60 million Dollars loan for NKUSIP Published on: 20-J UL-2013 Important for Exam: 44 people agreed India signed an agreement with Asian Development Bank (ADB) on 19 J uly 2013 for a 60 million dollars loan as to improve urban services. RBI opened 25000-crores Rupees Special Liquidity Window for Mutual Funds Published on: 18-J UL-2013 Important for Exam: 81 people agreed The Reserve Bank of India (RBI) on 17 J uly 2013 opened a special liquidity window for commercial banks to meet the cash requirements of mutual funds (MFs). Union Govt. approved Proposal to give SEBI more Powers Published on: 18-J UL-2013 Important for Exam: 47 people agreed The Union government on 17 J uly 2013 approved a proposal to amend SEBI Act for providing more powers to the market regulator to crack down on Ponzi schemes. Government raised FDI in Telecom Sector to 100 percent Published on: 17-J UL-2013 Important for Exam: 112 people agreed FDI in Telecom sector raised to 100 percent from 74 percent by the government. However, 49 percent of the investment would be routed through automatic route. Government allocated 1200 Crore as SCA to TSP in 2013-14 Published on: 16-J UL-2013 Important for Exam: 34 people agreed 1200 crore budget allocated for 2013-14, under SCA to TSP. The budget will be used for employment generation and socio-economic development of Tribals. RBI announced slew of measures to curb Rupee Volatility Published on: 16-J UL-2013 Important for Exam: 140 people agreed Reserve Bank of India (RBI) on 15 J uly 2013 announced measures to deal with rupee volatility. RBI fined 22 banks for violating KYC and Anti-Money Laundering Norms Published on: 15-J UL-2013 Important for Exam: 138 people agreed RBI on 15 J uly 2013 imposed fines of around 49.5 crore on 22 private and public sector banks for violating KYC/anti-money laundering norms. FDI increased into India to 2.32 Billion US Doll ars in April 2013 Published on: 15-J UL-2013 Important for Exam: 25 people agreed FDI into India increased 25 percent year-on-year to 2.32 billion US dollars in April 2013. India's Exports in June 2013 were valued at 23785.64 Million US Dollars Published on: 15-J UL-2013 Important for Exam: 16 people agreed Indias exports during J une 2013 were valued at 23785.64 million US dollars (138901.73 crore rupees). Visa on Arrival Scheme registered 22.9 % Growth in June 2013 Published on: 13-J UL-2013 Important for Exam: 54 people agreed India witnessed a rise of 22.9 % growth in Visa on Arrival Scheme in J une 2013 as compared to J une 2012. J apanese Tourists availed maximum facility. CCEA approved Modified Industrial Infrastructure Upgradation Scheme Published on: 12-J UL-2013 Important for Exam: 36 people agreed The government on 12 J uly 2013 approved the Modified Industrial Infrastructure Upgradation Scheme (MIIUS) with an outlay of 1030 crore Rupees. Jewellers decided to suspend Sale of Gold Coins for Six Months Published on: 11-J UL-2013 Important for Exam: 32 people agreed J ewellery retailers across India on 10 J uly 2013 decided to suspend sale of gold coins and bars for six months. CCEA approved Disinvestment of government stake in State Trading Corporation and ITDC Published on: 11-J UL-2013 Important for Exam: 20 people agreed The Cabinet Committee on Economic Affairs (CCEA) on 11 J uly 2013 approved the disinvestment of government stake in State Trading Corporation and ITDC. Direct Tax Collection for June Quarter of FY 2013-14 increased by 11.52 percent Published on: 10-J UL-2013 Important for Exam: 40 people agreed Direct Tax Collection of April-J une quarter of FY 2013-14 increased by 11.52 percent. Collection of Corporate Taxes has gone up by 7.82 percent. Cotton Association of India estimated Lower Production of Cotton in 2012-13 Published on: 09-J UL-2013 Important for Exam: 27 people agreed CAI in its latest report estimated a fall in production of cotton crop in crop season 2012-13 at 353.25 lakh bales against the 373.25 lakh bales of 2011-12. Proposed Investments in India fell to 75 Percent in FY12-13: Assocham Published on: 09-J UL-2013 Important for Exam: 27 people agreed As per the survey conducted by Assocham in J uly 2013 the proposed investments by domestic and foreign entrepreneurs declined by 75 per cent in FY 2012-13. Railway Revenue Earnings increased by 11.93 Percent during April - June 2013 Published on: 09-J UL-2013 Important for Exam: 19 people agreed Indian Railways witnessed an increase of 11.93%in its approximate earnings from 1 April to 30 J une 2013 and total goods earnings increased by 9.35%. Chinas consumer inflation rose to 2.7% in June 2013 Published on: 09-J UL-2013 Important for Exam: 23 people agreed Consumer price inflation/Index of China scaled to 2.7 per cent year-on- year in J une 2013 pushed by a 4.9 per cent rise in food prices. India-Israel trade raised to 6 billion Dollars in 2012-13 Published on: 08-J UL-2013 Important for Exam: 24 people agreed The trade between India and Israel touched the 6-billion dollars mark during 2012-13. Foreign Investment Promotion Board approved 7 Pharma FDI proposals Published on: 06-J UL-2013 Important for Exam: 50 people agreed The Foreign Investment Promotion Board approved seven Foreign Direct Investments (FDI) proposals for investment in Indian pharmaceutical companies. Government Released Revised Online Transfer Claim Form for EPFO Published on: 05-J UL-2013 Important for Exam: 23 people agreed RTC form for EPFO beneficiaries was released by Sis Ram Ola. The process is designed to develop a system of web based services for online submission of forms. Foreign Institutional Investors pulled out 5.6 billion Dollars from Debt Market Published on: 03-J UL-2013 Important for Exam: 62 people agreed Foreign institutional investors (FII) in the Month J une 2013 jumped out of the debt market, withdrawing 5.6 billion dollars. Telecom Commission approved hike in FDI cap from 74 to 100 percent in Telecom Sector Published on: 03-J UL-2013 Important for Exam: 144 people agreed Telecom Commission of India approved enhancement of FDI cap on telecom sector from 74 to 100 percent. CCEA approved the continuation of National Mission on Food Processing Published on: 30-J UN-2013 Important for Exam: 30 people agreed Union Cabinet on 28 J une 2013 approved the continuation of the National Mission on Food Processing (NMFP). Government to set-up 51 new low-cost Airports to Increase Air Connectivity Published on: 29-J UN-2013 Important for Exam: 78 people agreed Government took a decision to set-up 51 new airports in tier-II & III cities across India. The decision will boost the aviation sector in India. Minimum Support Price for Paddy fixed at 1310 Rupees per Quintal Published on: 28-J UN-2013 Important for Exam: 33 people agreed CCEA on 28 J une 2013 approved the Minimum Support Prices (MSPs) for kharif crops of 2013-14 season. Union Government raised Rice Support Price by 4.8 Percent Published on: 28-J UN-2013 Important for Exam: 31 people agreed Union Government on 27 J une 2013 raised the base price of rice to 1310 rupees per 100 kilograms from 1250 rupees as compared to year 2012. India Third Most Attractive Destination for Investment in the World: UNCTAD Published on: 27-J UN-2013 Important for Exam: 103 people agreed A survey conducted by UNCTAD revealed on 26 J une 2013 that India was the third most attractive destination, after China and US. Pipavav Port Regained Top Position in Seafood Exports for Second Consecutive Year Published on: 26-J UN-2013 Important for Exam: 33 people agreed Pipavav port located in Saurashtra, Gujarat, remained at the top most position for second year in a row in FY13 on the basis of quantity. Three IPC Common Sales Contracts Launched by International Pepper Conclave 2013 Published on: 26-J UN-2013 Important for Exam: 13 people agreed Three IPC Common Sales Contracts were launched by International Pepper Conclave 2013 to standardise the contract terms for export of pepper. Union Govt extended Power Distribution Reform Package to 12th Plan Published on: 24-J UN-2013 Important for Exam: 36 people agreed CCEA on 21 J une 2013 decided to extend the R-APDR for the 12th Five-Year Plan period in order to strengthen the distribution sector. Cabinet Committee Approved Disinvestment of 5 Percent Paid Up Equity in NLC Published on: 24-J UN-2013 Important for Exam: 28 people agreed The Cabinet Committee on Economic Affairs on 21 J une 2013 approved disinvestment of 5 percent equity of Neyveli Lignite Corporation (NLC). CCEA approved Mechanism for Coal Suppl y to Power Producers Published on: 23-J UN-2013 Important for Exam: 11 people agreed The Cabinet Committee on Economic Affairs (CCEA) on 21 J une 2013 approved mechanism for coal supply to Power Producers. Government planned to introduce Visa-on-Arri val Facilities for Chinese Nationals Published on: 23-J UN-2013 Important for Exam: 36 people agreed The Union Government of India on 22 J une 2013 planned to introduce Visa-on-Arrival facilities for the Chinese nationals. Duty Drawback Rate on Gold Ornaments hiked by Government to increase Jewellery Exports Published on: 22-J UN-2013 Important for Exam: 44 people agreed Duty Drawback Rate of gold ornaments increased by 73 rupees per gram to 173.70 rupees per gram to boost jewellery exports. SEBI issued Guidelines for Investment Advisers to Operate in Stock Markets Published on: 21-J UN-2013 Important for Exam: 64 people agreed SEBI notified guidelines for investment advisers. It made it compulsory to get requisite certifications for them to operate in stock market for them. Global Prices of Fish Increased to Record High in May 2013 Published on: 21-J UN-2013 Important for Exam: 22 people agreed UNs Food & Agriculture Organization announced that the global prices of fish reached record high in May 2013 because of rising demand. Indian Money in Swiss Banks Dropped to Record Low: Swiss National Bank Published on: 21-J UN-2013 Important for Exam: 25 people agreed Swiss National Bank (SNB) in Zurich on 20 J une 2013 unveiled that the Indian money in Swiss banks dropped to record low at 9000 crore Rupees. Commodities Transaction Tax Applicable on Non- Farm Products from 1 Jul y 2013 Published on: 21-J UN-2013 Important for Exam: 44 people agreed CBDT on 19 J une 2013 announced that the Commodities Transaction Tax shall be levied on the non-farm products from 1 J uly 2013. Union Government of India proposed plan to raise FDI Limit in Key Sectors Published on: 19-J UN-2013 Important for Exam: 121 people agreed Government proposed sweeping changes in FDI regime to attract foreign investors based on the recommendations made by Arvind Mayaram Committee. RBI left its Repo Rate unchanged at 7.25 Percent Published on: 18-J UN-2013 Important for Exam: 44 people agreed RBI in its J une mid-quarter monetary policy on 17 J une 2013, left its key policy ( repo rate) unchanged at 7.25 percent Telecom Regulatory Authority of India (TRAI) reduced Roaming charges for calls,SMSs Published on: 17-J UN-2013 Important for Exam: 11 people agreed Telecom regulator TRAI on 17 J une 2013 announced reduction in the national mobile phone roaming charges which will come into effect 1 J uly 2013. Petrol Prices hiked by 2 Rupees per Liter, excluding VAT Published on: 17-J UN-2013 Important for Exam: 17 people agreed Price of petrol went up by 2 rupees in India due to devaluation of rupee. Due to devaluation, the import cost of crude oil has gone costlier for oil firms. WPI Inflation declined to 4.7 Percent in May 2013 Published on: 15-J UN-2013 Important for Exam: 46 people agreed WPI inflation in May 2013 came down to 4.7 percent against 4.89 percent measured in April 2013. SEBI notified Norms for Listing of Preference Shares Published on: 15-J UN-2013 Important for Exam: 45 people agreed Market regulator Sebi in Month of J une 2013 notified a new set of regulations to regulate issuing and listing of non-convertible preference. Tax Scrutiny of Multinational Companies to Increase in India Published on: 14-J UN-2013 Important for Exam: 114 people agreed The (I-T) department has notified a revised form to check for transfer pricing infractions, something that could intensify the scrutiny on their books. Mineral Production during April 2013: Provisional Data Released Published on: 14-J UN-2013 Important for Exam: 9 people agreed The index of mineral production of mining sector in April 2013 was lower by 16.9 percent compared to March 2013 Industrial Production Growth declined to 2 Percent in April 2013 Published on: 13-J UN-2013 Important for Exam: 12 people agreed Industrial production growth declined to 2 per cent in April 2013 due to dismal performance of various sectors. Retail Inflation stood at 9.31 Percent in May 2013 Published on: 13-J UN-2013 Important for Exam: 15 people agreed As per the data released on 12 J une 2013, Retail inflation stood at 9.31 per cent in May 2013 Foreign Investment Limit hiked by 5 Billion Dollar in Government Securities Published on: 13-J UN-2013 Important for Exam: 63 people agreed The limit of Foreign Investment in Government Securities was enhanced by 5 Billion US Dollar to increase overseas capital inflows on 12 J une 2013. RBI hiked the Cap for Online Repatriation of Export Proceeds Published on: 12-J UN-2013 Important for Exam: 47 people agreed The cap on online repatriation of export proceeds was raised by to 10000 US dollars by RBI to arrest the slide in the value of rupee and boost Forex inflows. FEEs from Tourism increased by over 9 percent in May 2013 Published on: 11-J UN-2013 Important for Exam: 35 people agreed FEEs for May 2013 increased by more than 9 percent and the FTAs went up by 3.2 percent in the same period. RBI penalised Axis Bank, HDFC Bank and ICICI Bank for rule violations Published on: 11-J UN-2013 Important for Exam: 62 people agreed RBI imposed a fine on Axis Bank, HDFC Bank and ICICI Bank for violation of KYC norms and anti-money laundering guidelines. Cost inflation index for 2013-14 raised by 10%: CBDT Published on: 10-J UN-2013 Important for Exam: 54 people agreed The Central Board of Direct Taxes (CBDT) in month of J une 2013has specified a value for the cost inflation index for 2013-14. Rupee touched New Life time low against Dollar at 57 Rupees 77 Paise Published on: 10-J UN-2013 Important for Exam: 36 people agreed The rupee fell by a whopping 71 paise to hit a new life-time low of 57 rupees 77 paise against Dollar CBDT revised Selection Criteria for Income Tax Officials Published on: 10-J UN-2013 Important for Exam: 20 people agreed The Ministry of Finance in J une 2013 has introduced new rules for sending Income Tax officers to newly created overseas units similar to in the US and the UK. RBI directed banks to Periodicall y Audit Documents of Credits of 5 Crore and Above Published on: 08-J UN-2013 Important for Exam: 43 people agreed RBI on 7 J une 2013 directed the banks to audit and verify the documents of all credits of 5 crore and above periodically to prevent frauds. RBI put restrictions on Co-Operative banks for Loans against Gold coins Published on: 07-J UN-2013 Important for Exam: 81 people agreed Reserve Bank of India on 7 J une 2013 extended the restriction on advance against gold on co-operative banks set to curb the demand for gold. Finance Ministry asked Indian Bank Association to set up Oversight Mechanism Published on: 07-J UN-2013 Important for Exam: 33 people agreed The Finance ministry asked the Indian Banks' Association to set up an independent body to manage the corporate debt restructuring (CDR) mechanism. Department of Telecommunication (DoT) asked TRAI to Audit Spectrum Use Published on: 07-J UN-2013 Important for Exam: 5 people agreed DoT asked Trai to carry out regular spectrum utilization audit of all service providers in order to ensure efficient utilization of spectrum. The Import Duty on Gold and Platinum hiked from 6 to 8 Percent Published on: 06-J UN-2013 Important for Exam: 29 people agreed The government hiked the import duty on Gold and Platinum from 6 to 8 per cent on 5 J une 2013. Government hiked the Import duty on Gold and Platinum Published on: 06-J UN-2013 Important for Exam: 13 people agreed Import duty on gold was hiked from 6 percent to 8 percent by the Government of India with an aim of curbing the import of gold in the country. CCEA approved Revi val of Nagaland Pulp and Paper Company Limited Published on: 05-J UN-2013 Important for Exam: 9 people agreed CCEA on 4 J une 2013 approved the revival of the Nagaland Pulp and Paper Company Limited (NPPC) with the infusion of funds of 309.38 crore Rupees. The Union Cabinet of India approved the Real Estate Bill 2013 Published on: 05-J UN-2013 Important for Exam: 91 people agreed The Union Cabinet of India on 4 J une 2013 approved the Real Estate (Regulation and Development) Bill 2013 India's Foodgrain Production registered a Growth of 30 Percent Published on: 04-J UN-2013 Important for Exam: 35 people agreed India's foodgrain production registered an impressive growth of over 30 percent in the last nine years. India to Dominate Global Saving and Investment Along With China: World Bank Report Published on: 04-J UN-2013 Important for Exam: 33 people agreed The World Bank report released on 3 J une 2013 forecasted that India and China will become largest investors of the world in the year 2030. RBI extended Time for opening up of New Banks by Six Months Published on: 04-J UN-2013 Important for Exam: 43 people agreed The RBI (Reserve Bank of India) on 3 J une 2013 increased the validity period of setting up of banks from one year to 18 months. Government raised the Import Tariff Value of Gold to 459 Dollars per 10 Grams Published on: 03-J UN-2013 Important for Exam: 18 people agreed The Union government of India increased the import tariff value of gold to 459 dollars per 10 grams India witnessed a Five-Fold Increase in Power Generation Published on: 03-J UN-2013 Important for Exam: 42 people agreed India witnessed a five-fold increase in the additional power generation capacity during the last nine years Foreign Investment Promotion Board Approved Eight FDI Proposals Published on: 01-J UN-2013 Important for Exam: 32 people agreed The FIPB on 31 May 2013 approved eight FDI proposals, which include those of McKinsey & Company, ACME Solar Energy and GETIT Infoservices. OECD scaled down India's Growth Rate at 5.3 Percent Published on: 31-MAY-2013 Important for Exam: 48 people agreed OECD on 29 May 2013 scaled down Indias growth estimate to 5.3 per cent for 2013 from 5.9 per cent. CSO:Economic Growth declined to a low of 5 Percent for the 2012-13 Fiscal Published on: 31-MAY-2013 Important for Exam: 67 people agreed As per CSO DATA released on 31 May 2013, economic growth fell to a decade's low of 5 per cent for the entire 2012-13 fiscal SEBI made Registration Compulsory for Investment Advisors Published on: 30-MAY-2013 Important for Exam: 28 people agreed SEBI made it compulsory for investment advisorsto first obtain a certificate of registration for the same. Quarterl y Report (Jan-Mar 2013) on Public Debt Management Released Published on: 28-MAY-2013 Important for Exam: 7 people agreed Quarterly Report on Public Debt Management for the Quarter J anuary- March 2013 was released on 28 May 2013. RBI imposed Restrictions on Bank Loans against Gold Published on: 28-MAY-2013 Important for Exam: 57 people agreed The Reserve Bank of India on 27 May 2013 imposed restrictions on banks and NBFCs for providing loans against gold coins Union Cabinet of India Approved the Creating 20751 Additional Posts in Income Tax Department Published on: 24-MAY-2013 Important for Exam: 75 people agreed The Union Cabinet of India on 23 May 2013 approved the proposal for creating 20751 additional posts in the Income Tax Department in various cadres. Indian Rupee touched New 6-Month Low at 55.83 against US Dollar Published on: 23-MAY-2013 Important for Exam: 16 people agreed The Indian rupee on 23 May 2013 declined by 37 paise to trade at a fresh six-month low of 55.83 Union Government proposed Stronger Powers to SEBI for tackling Ponzi Schemes Published on: 20-MAY-2013 Important for Exam: 70 people agreed The Union Government has proposed Stronger Powers to SEBI enabling it to carry out search and seizure operations and for attachment of assets. Demand for Gold in India Increased by 27 Percent during Jan-Mar 2013 Published on: 20-MAY-2013 Important for Exam: 16 people agreed Demand for gold in India increased by 27 per cent to 256.5 tonnes during the J anuary-March 2013 quarter Civil Aviation Ministry directed Airlines to Limit Number of Privileged Seats Published on: 20-MAY-2013 Important for Exam: 8 people agreed Aviation Ministry directed airlines to limit number of privileged seats for which fees can be charged and extended time to decrease number of foreign pilots. Government cut Import Tariff Value of Gold and Silver Published on: 18-MAY-2013 Important for Exam: 10 people agreed The government cut the import tariff value of gold and silver to 466 US dollars per ten grams CCEA approved the Same Scale of Allocation to APL Families Published on: 18-MAY-2013 Important for Exam: 19 people agreed CCEA on 16 May 2013 approved the continuation of the same scale of allocation to APL families during 2013-14 Union Govt ratified 8.5 Percent interest on PF Deposits for 2012-13 Published on: 16-MAY-2013 Important for Exam: 37 people agreed Finance Ministry approved payment of 8.5 per cent interest rate for 2012-13 from 8.25 per cent in the previous fiscal. International Monetary Fund (IMF) approved 1.3 bn Dollars loan for Cyprus Published on: 16-MAY-2013 Important for Exam: 30 people agreed IMF on 15 May 2013 approved a three-year, 1.3 billion dollars loan for supporting Cyprus attempts to stabilize its financial sector. RBI decided to Launch Inflation Indexed Bonds (IIBs) Published on: 16-MAY-2013 Important for Exam: 158 people agreed The RBI (Reserve Bank of India) on 15 May 2013 decided to launch Inflation Indexed Bonds (IIBs). Union Government hiked Backward Region Grant Fund Entitlement for Uttar Pradesh Published on: 16-MAY-2013 Important for Exam: 29 people agreed Backward Region Grant Fund was increased to 818.17 crore rupees for 2013-14 from 667 crore rupees for Utatr Pradesh by Union Government. Reserve Bank of India directed Banks to follow Clean Note Policy Published on: 15-MAY-2013 Important for Exam: 103 people agreed RBI directed banks to follow Clean Note Policy and not to stable the notes packet. It also directed the banks to withdraw soiled notes from circulation. WPI Inflation eased to 4.89 percent in Apri l 2013 as Per Official Data Published on: 14-MAY-2013 Important for Exam: 25 people agreed As per official data released on 14 May 2013, WPI Inflation eased to 4.89 percent in April 2013. 1 0 Google +0 Exports in India grew up by 1.6 percent in April 2013 Published on: 14-MAY-2013 Important for Exam: 14 people agreed The exports in the month of April 2013 of India grew by 1.6 percent and stood at 24.16 billion US Dollar. Trade deficit pushed to 1.7 billion US dollar. Total Value of Mineral Production During March 2013 was 20475 Crore Rupees Published on: 14-MAY-2013 Important for Exam: 8 people agreed The total value of mineral production (excluding atomic & minor minerals) in the country during March 2013 was 20475 crore rupees. Reserve Bank of India imposed Restrictions on Gold Import by Banks Published on: 14-MAY-2013 Important for Exam: 31 people agreed The RBI on 12 May 2013 imposed restrictions on gold import by banks in order to moderate the demand of gold for domestic use. National Stock Exchange(NSE) launched Debt Trading Platform Published on: 13-MAY-2013 Important for Exam: 52 people agreed National Stock Exchange, the Leading bourse on 11 May 2013 launched the countrys first dedicated debt trading platform. Retail Inflation declined to 9.39 Percent in April 2013 Published on: 13-MAY-2013 Important for Exam: 10 people agreed Retail inflation declined to 9.39 per cent in April because of reduction in prices of vegetables, edible oil and protein-based items Inter-Ministerial Group approved 10% Equity Sale in Coal India Limited Published on: 11-MAY-2013 Important for Exam: 27 people agreed Sale of 10 percent equity of the Coal India Limited was approved by the Inter-Ministerial Group headed by Ravi Mathur, the Disinvestment Secretary. Air India declared Transformation by Implementation of Cost Cutting Measures Published on: 10-MAY-2013 Important for Exam: 16 people agreed Air India is set to implement transformation programmes by implementing cost cutting measures suggested by the five member committee. CCEA approved Proposal to set-up 2 Major Ports in Bengal and Andhra Pradesh Published on: 10-MAY-2013 Important for Exam: 34 people agreed Proposal from Ministry of Shipping to set-up two ports in Andhra Pradesh and West Bengal were approved by CCEA on 9 May 2013. India is the largest Producer and Consumer of Chickpeas in World Published on: 09-MAY-2013 Important for Exam: 42 people agreed FAO in its latest report for 2011 reported that India is the largest producer and consumer of Chickpeas in the world. Union Government set 325-billion Dollars Export Target for 2013-14 Published on: 09-MAY-2013 Important for Exam: 34 people agreed Union Government announced an export target of 325 billion dollars for the current financial year 2013-14 to support the slowdown in the global markets. Foreign Exchange Earnings from Tourism grew by 7 percent in April 2013 Published on: 08-MAY-2013 Important for Exam: 16 people agreed FEEs from Tourism Increases by More than Seven Percent in April 2013. FTAs went up by About Two Percent during the First Quarter Of 2013. SEBI approved Kerala's Start-up Village Angel Fund of 10 million Dollars Published on: 07-MAY-2013 Important for Exam: 41 people agreed SEBI in May 2013 had approved an angel fund of 10 million Dollars to address the problem of resource crisis for start-up companies across the country. India's Services Growth hit 18-month low: HSBC Published on: 06-MAY-2013 Important for Exam: 10 people agreed As per the survey undertake by HSBC, Indias services sector grew at its slowest pace in one and half years during the month of April 2013. Asian Development Bank to provide 6 billion Dollars to India over next 3 years Published on: 06-MAY-2013 Important for Exam: 32 people agreed ADB on 5 May 2013 announced that it is going to provide about 6 billion dollars loan to India over the next three years. Foodgrains Output for 2013 Exceeded its Target Published on: 04-MAY-2013 Important for Exam: 13 people agreed Foodgrains output for 2012-13 was revised by the Government of India by 5.22 million tonnes for wheat, rice and coarse cereals. CCEA approved Exchange Trade Fund for PSU stocks Published on: 03-MAY-2013 Important for Exam: 14 people agreed CCEA on 2 May 2013 cleared the government proposal to set up an exchange traded fund backed by a basket of PSU stocks, commonly referred as CPSEETF. RBI reduced the Repo Rate by 25 Basis Points to 7.25 Percent Published on: 03-MAY-2013 Important for Exam: 85 people agreed RBI on 3 May 2013 reduced the policy repo rate by 25 basis points to 7.25 per cent Supreme Court of India upheld 51 Percent FDI in Multi - brand Retail Published on: 02-MAY-2013 Important for Exam: 54 people agreed The Supreme Court of India on 1 May 2013 upheld the constitutional validity of 51 percent FDI in the multi-brand retail sector. Bombay Stock Exchange (BSE) launched broad-based Islamic Equity Index Published on: 01-MAY-2013 Important for Exam: 122 people agreed The Bombay Stock Exchange (BSE) on 30 April 2013 launched an Islamic equity index The Union Minister for Commerce, Industry and Textiles Launched 21 New Textile Parks Published on: 24-APR-2013 Important for Exam: 45 people agreed The Union Minister for Commerce, Industry and Textiles, Anand Sharma on 23 April 2013, launched 21 New Textile Parks approved under SITP. PMEAC Presented Economic Review 2012-13: Highlights Published on: 23-APR-2013 Important for Exam: 47 people agreed The Prime Ministers Economic Advisory Council (PMEAC) under the Chairmanship of C Rangarajan on 23 April 2013 presented the Economic review 2012-13. Competition Commission of India slapped fine of 8000 Crore rupees in 19 Cases Published on: 23-APR-2013 Important for Exam: 34 people agreed Competition Commission of India (CCI) penalised 19 business entities for anti-competitive practices collectively for around 8000 crore Rupees. Union Government of India approved 13 Power Projects and 25 Oil & Gas Blocks Published on: 23-APR-2013 Important for Exam: 38 people agreed CCI approved 13 power projects that include hydro, thermal & transmission projects. Investment of 33000 crore rupees will be made on these projects. Government permitted Railways to use its Land for Metro Networks Published on: 20-APR-2013 Important for Exam: 25 people agreed Union Cabinet of India gave its approval to the proposal of the Indian Railways for permitting use of its land for metro networks. Union Government approved 1083 crore Rupees Revival Plan for HMT Published on: 20-APR-2013 Important for Exam: 39 people agreed The Cabinet Committee on Economic Affairs (CCEA) on 18 April 2013 approved a 1083-crore Rupees renewal package for watch and tractor maker company HMT. Government has implemented Changes in FTP 2009- 14 to Enhance Trade and SEZs Published on: 19-APR-2013 Important for Exam: 19 people agreed The Union Commerce Ministry has announced changes in different policies and schemes under Annual Supplement 2013-14 of FTP 2009- 14. To Revive Interest in SEZs of Investors Government announced Changes in FTP Published on: 19-APR-2013 Important for Exam: 33 people agreed To revive interests of investors in SEZs the Union Government of India announced some revisions in annual supplement of FTP 2009-14. Indias Exports in March 2013 were valued at 30849.65 Million Dollars Published on: 18-APR-2013 Important for Exam: 4 people agreed Indias Exports during March 2013 were valued at 30849.65 million US dollars (167836.31 crore rupees) IMF slashed Economic Growth Rate of India to 5.7 percent from 5.9 percent for 2013 Published on: 17-APR-2013 Important for Exam: 42 people agreed IMF in its latest release of WEO slashed Indias growth rate to 5.7 percent from 5.9 percent on 16 April 2013. Reserve Bank of India to Start Plastic Money Project on Trial Basis Published on: 17-APR-2013 Important for Exam: 254 people agreed RBI decided to launch Plastic notes in the denomination of 10 Rupees in five selected cities of India on trial basis. Prices of Commodities Decreased Considerabl y; Gold Prices Decreased to 15-Month Low Published on: 16-APR-2013 Important for Exam: 19 people agreed The prices of wide range of commodities decreased considerably in the second week of April 2013. Gold fell to 15-month low at 26500 Rupees per 10 gm. NEEPCO granted MiniratnaCategory1 Status by the Union Government of India Published on: 12-APR-2013 Important for Exam: 55 people agreed NEEPCO was conferred with the Miniratna Category 1 status by the President of India, Pranab Mukherjee on 8 April 2013. Retail Inflation declined to 10.39 Percent in March 2013 Published on: 12-APR-2013 Important for Exam: 26 people agreed As per a Government data released, retail inflation of the country declined to 10.39 % in March. This is the first decline over a period of five months. WTO Slashed Trade Growth Forecast for 2013 to 3.3 Percent Published on: 11-APR-2013 Important for Exam: 32 people agreed The World Trade Growth Forecast was slashed to 3.3 percent by World Trade Organization. It asked to strengthen multilateral trade system. Annual Auto Sales in India Dropped 6.7 Percent; First Time in 10 Years: SIAM Published on: 11-APR-2013 Important for Exam: 34 people agreed The annual sales of car in India dropped down to 6.7 percent from 2012, lowest in 10 years, according to SIAM. Food Corporation of India (FCI) Raised 5000 Crore Rupees by Issuing Taxable Bonds Published on: 11-APR-2013 Important for Exam: 12 people agreed The Food Corporation of India (FCI) raised 5000 crore Rupees by issuing taxable bonds backed by Government of India Guarantee. Indian Railways Carried 1009.73 Million Tonnes of Freight during Fiscal 2012-13 Published on: 10-APR-2013 Important for Exam: 21 people agreed Indian Railways carried 1009.73 million tonnes of revenue earning freight traffic during the financial year 2012-13 as per the data released by Ministry of Railways. India Trade Promotion Organisation Signed a MoU with Government of India Published on: 09-APR-2013 Important for Exam: 46 people agreed India Trade Promotion Organisation (ITPO) signed a Memorandum of Understanding (MoU) with Government of India for the year 2013-14 on 20 March 2013. National Workshop on Grid Integration Inaugurated Published on: 09-APR-2013 Important for Exam: 22 people agreed The Minister for New & Renewable Energy inaugurated the National Workshop on Grid Integration of Renewable Energy Sources and Energy Efficiency on 8 April 2013. Foreign Tourist Arrivals in India Increased by About Three Percent Published on: 08-APR-2013 Important for Exam: 15 people agreed Foreign Tourist Arrivals (FTAs) showed a growth of 2.8 percent in March 2013 over March 2012. Two-Day International Workshop on Green National Accounting for India Concluded Published on: 08-APR-2013 Important for Exam: 33 people agreed Two-day International Workshop on Green National Accounting for India finished in New Delhi on 6 April 2013. Union Government of India Sanctioned 4065.81 Crore Rupees for Water Pollution Control Published on: 06-APR-2013 Important for Exam: 21 people agreed For exercising pollution abatement schemes of rivers and lakes in different states, the Union Government of India sanctioned 4065.81 crore rupees. Union Government achieved FY13 Revised Tax Collection Target Published on: 05-APR-2013 Important for Exam: 82 people agreed Union government in the Month of March 2013 announced that it has met its revised tax collection target for 2012-13. Cabinet Committee on Economic Affairs approved de- control of Sugar Published on: 05-APR-2013 Important for Exam: 61 people agreed CCEA decided to de-control sugar by doing away the levy-sugar mechanism on it. Govt. decision also dismantled the regulated release mechanism. CCEA approved Four Laning of Jorhat to Demow section of NH-37 in Assam Published on: 04-APR-2013 Important for Exam: 49 people agreed The Cabinet Committee on Economic Affairs gave its approval for the four laning of the J orhat-Demow section of National Highway-37 in the state of Assam. CCEA approved Special Infrastructure Scheme in LWE affected States Published on: 04-APR-2013 Important for Exam: 27 people agreed The Cabinet Committee on Economic Affairs(CCEA) on 2 April 2013 approved the proposal of the Ministry of Home Affairs for continuation of the Scheme for Special Infrastructure (SIS) Core Sector Growth Slumped by 2.5 Percent in February 2013 Published on: 01-APR-2013 Important for Exam: 47 people agreed The production of eight core sector industries decreased by 2.5 percent in the month of February 2013, for the first time in 2012-13 financial year. IRDA Introduced Credit Rating Norm for Selecting Foreign Reinsurers Published on: 30-MAR-2013 Important for Exam: 112 people agreed The Insurance Regulatory and Development Authority (IRDA) in the month of March 2013 have made the norms stricter for reinsurers. Indias International Financial Liabilities increased by 10.5 billion Dollar Published on: 30-MAR-2013 Important for Exam: 69 people agreed Indias international financial liabilities increased by 10.5 billion Dollars to 723.9 billion Dollars as at end- of December 2012 as per the Report. Growth-Oriented MoU Signed Between SPMCIL and Department of Economic Affairs Published on: 26-MAR-2013 Important for Exam: 78 people agreed SPMCIL signed the growth-oriented MoU with the Department of Economic Affairs (DEA), Ministry of Finance on 25 March 2013. Commercial Production of Aishwarya Oil Field in Rajasthan Started Published on: 24-MAR-2013 Important for Exam: 137 people agreed Commercial production of oil and gas started at Aishwarya Oil Field in Barmer, Rajasthan. It was inaugrated by Veerappa Moily and Ashok Gehlot. Cabinet Committee on Investment (CCI) approves Five Oil, Gas Blocks Operations Published on: 22-MAR-2013 Important for Exam: 103 people agreed RBI Cuts Repo Rate by 25 Base Points while keeping CRR Unchanged Published on: 20-MAR-2013 Important for Exam: 122 people agreed The Reserve Bank of India (RBI) on 19 March 2013 cut the repo rate by 25 basis points to 7.5 per cent from 7.75 percent in its mid-quarter review of the monetary policy. HPCL and Government of Rajasthan Signed a MoU for Setting up Refinery Published on: 15-MAR-2013 Important for Exam: 19 people agreed HPCL and the Government of Rajasthan on 14 March 2013 signed MOU at J aipur for setting up a refinery-cum-petrochemical complex in Barmer, Rajasthan. Economic Survey of India 2012-13: Human Development Published on: 14-MAR-2013 Important for Exam: 162 people agreed Union Finance Minister P. Chidambaram on 27 February presented the Economic Survey 2012-13 in the Lok Sabha of the Parliament. Economic Survey of India 2012-13: Industry and Services Sector Published on: 14-MAR-2013 Important for Exam: 38 people agreed Growth of value added in industrial sector, comprising manufacturing, mining, electricity and construction sectors, slowed to 3.1 percent in 2012-13. Economic Survey 2012-13: International Trade, India and Global Economy Published on: 14-MAR-2013 Important for Exam: 35 people agreed The decrease in world growth and trade in 2012 reflected a weak and slow recovery for world trade in the economic survey 2012-13. Economic Survey 2012-13: Energy, Infrastructure and Communications Published on: 14-MAR-2013 Important for Exam: 20 people agreed The 12th 5-Year Plan laid special emphasis on development of the infrastructure sector including energy. 56.3 lakh crore was invested in infrastructure sector. Economic Survey of India 2012-13: Agriculture and Food, Sustainable Development and Climate Published on: 14-MAR-2013 Important for Exam: 70 people agreed Union Finance Minister P. Chidambaram on 27 February 2013 presented the Economic Survey 2012-13 in the Lok Sabha of the Parliament. Union Government granted an aid of 41 Crore Rupees to protect Pashmina Goats Published on: 13-MAR-2013 Important for Exam: 29 people agreed The Union Government on 12 March 2013 decided to provide a financial assistance of 41.21 crore rupees to protect Pashmina goat which produces world-famous fine luxury fibre... 0 0 Google +0 Coal India signed Fuel Suppl y Pacts with 56 Power Plants Published on: 13-MAR-2013 Important for Exam: 13 people agreed 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. Union Government to launch 10 Rupees Plastic Notes in 5 Cities Published on: 12-MAR-2013 Important for Exam: 142 people agreed The Union Government and RBI on 12 March 2013 decided to introduce one billion pieces of 10 Rupees bank notes made of plastic on a field trial basis in five cities. World Bank estimated a growth of over 6 percent for the Indian Economy during 2013-14 Published on: 11-MAR-2013 Important for Exam: 36 people agreed The World Bank in the month of March 2013 forecasted that the Indian economy is estimated to grow over 6 per cent during 2013-14. Indian Financial Regulators signed pact to Monitor Conglomerates Published on: 10-MAR-2013 Important for Exam: 28 people agreed The country's top four financial regulators on 8 March 2013 signed an agreement among each other for co-operation on consolidated supervision and monitoring of financial groups.. The Union Government of India approved Export of Additional 5 Million Tonnes of Wheat Published on: 08-MAR-2013 Important for Exam: 10 people agreed The GoM approved export of additional 5 million tonnes of wheat from FCI. Private Exporters are only permitted to export the additional quantity of Wheat. Union Budget 2013-14: Allocations of Funds to Infrastructure and Energy Sector Published on: 05-MAR-2013 Important for Exam: 16 people agreed The Union Finance Minister announced different proposals for Infrastructure and Energy Sector in India while tabling the Union Budget 2013-14 in the Lok Sabha on 28 February 2013. The proposals as announced by the Union Finance Minister are as follows: Union Budget 2013-14: Allocation of Funds to the Defence Sector Published on: 05-MAR-2013 Important for Exam: 32 people agreed In the Union Budget 2013-14, which was tabled in the Lok Sabha on 28 February 2013 by the Union Finance Minister P. Chidambaram, there is a hike of 14% on Defence Budget over the last year 2012-13, thus promising more funds required for national security... Union Budget 2013-14: Tax Proposals at a Glance Published on: 02-MAR-2013 Important for Exam: 68 people agreed The Union Finance Minister announced tax proposals while tabling the Union Budget 2013-14 in the Lok Sabha on 28 February 2013. Union Budget 2013-14: Allocation of Funds to the Social Sector Published on: 02-MAR-2013 Important for Exam: 61 people agreed In the Union Budget 2013-14, Finance Minister P. Chidambaram made announcements for the social sector, with focus primarily on women, poor and youth. Union Budget 2013-14: Allocation of Funds to Industrial Sector Published on: 02-MAR-2013 Important for Exam: 33 people agreed In the Union Budget 2013-14, the Union Finance Minister, P. Chidambaram announced plans and proposals for the industrial sector. MOU signed for Setting up of Memu Coaches Manufacturing Facility at Bhilwara Published on: 01-MAR-2013 Important for Exam: 41 people agreed MoU was signed on 25 February 2013 between Indian Railways and Bharat Heavy Electricals Ltd (BHEL) for setting up of Greenfield MEMU coaches manufacturing facility at Bhilwara in Rajasthan. Union Budget 2013-14: Allocation to Rural Development, Agriculture and Food Security Published on: 01-MAR-2013 Important for Exam: 78 people agreed The Union Budget 2013-14 which was tabled by the Union Finance Minister P. Chidambaram on 28 February 2013 allocated 27049 crore Rupees to Agriculture. Union Budget 2013-2014: New Plans and Schemes Introduced and Proposed Published on: 01-MAR-2013 Important for Exam: 260 people agreed Various new plans and schemes were introduced by the Union Finance Minister P Chidambaram on 28 February 2013 in the Budget 2013-14. Union Budget 2013-14: List of Commodities on which Taxes Increased or Decreased Published on: 01-MAR-2013 Important for Exam: 100 people agreed Union Finance Minister P Chidambaram on 28 February 2013 tabled the Union budget in the Lok Sabha of Parliament for the financial year 2013- 14. Railway Budget 2013-14: New Plans and Schemes Published on: 28-FEB-2013 Important for Exam: 177 people agreed Union Railway Minister Pawan Kumar Bansal presented the Union Railway Budget for 2013-14 in Lok Sabha on 26 February 2013. Some of the New Plans and Schemes proposed in Railway Budget 2013-14 are as under.. Railway budget 2013-14: New Initiatives Published on: 28-FEB-2013 Important for Exam: 85 people agreed Union Railway Minister Pawan Kumar Bansal presented the Union Railway Budget for 2013-14 in Lok Sabha on 26 February 2013.Some of the major Initiative proposed in Railway Budget 2013-14 are as under.. Union Budget 2013-14 presented by P. Chidambaram in Lok Sabha: Highlights Published on: 28-FEB-2013 Important for Exam: 94 people agreed Union Finance Minister P Chidambaram on 28 February 2013 tabled the Union budget in the Parliament for the financial year 2013-14... Railway Budget 2013-14: 67 New Express Trains Announced Published on: 27-FEB-2013 Important for Exam: 30 people agreed Railway Minister Pawan Kumar Bansal on 27 February 2013 proposed the introduction of 67 new express trains and 26 new passenger trains. He also asserted the introduction of 22 new lines in 2013-14. Economic Survey of India 2012-13: Highlights Published on: 27-FEB-2013 Important for Exam: 371 people agreed Union Finance Minister P. Chidambaram on 27 February 2013 presented the Economic Survey 2012-13 in the Lok Sabha of the Parliament. Railway Budget 2013-14 Presented in Lok Sabha : Highlights Published on: 26-FEB-2013 Important for Exam: 68 people agreed Union Railway Minister Pawan Kumar Bansal presented the Union Railway Budget for 2013-14 in Parliament on 26 February 2013. RBI announced Guidelines for Licensing of New Banks in Private Sector Published on: 23-FEB-2013 Important for Exam: 71 people agreed Guidelines for Licensing of New Banks in the Private Sector was released by Reserve Bank of India on 22 February 2013. Akhilesh Yadav, Chief Minister of Uttar Pradesh Presented Budget for Fiscal Year 2013-14 Published on: 23-FEB-2013 Important for Exam: 22 people agreed Budget 2013-14 was presented in the Vidhan Sabha on 19 February 2013 by the Chief Minister of Uttar Pradesh, Akhilesh Yadav. The Union Government Cancelled Bond Auction Worth 12000 Crore Rupees Published on: 20-FEB-2013 Important for Exam: 6 people agreed The Union Government of India on 18 February 2013 cancelled the bond auctions worth 12000 crore Rupees. Inflation goes Down to Three Years Low to 6.62 percent in January 2013 Published on: 15-FEB-2013 Important for Exam: 12 people agreed Data released by the Commerce and Industry Ministry reported that Inflation went down to its three year low of 6.62 percent in J anuary 2013. SEBI ordered freezing of accounts and attachment of properties of two companies of Sahara Published on: 14-FEB-2013 Important for Exam: 12 people agreed Seizure of Bank Accounts of two companies of Sahara and attachment of its properties ordered by SEBI, the market regulator on 13 February 2013. Exports of India Increased By 0.8 Per Cent in January 2013 Published on: 14-FEB-2013 Important for Exam: 12 people agreed The exports of India increased by 0.8 percent in the month of J anuary 2013 to 25.58 billion US dollars. India's Trade Deficit for April - January, 2012-13 was estimated at 167168.12 Million US Dollars Published on: 13-FEB-2013 Important for Exam: 1 people agreed India's Trade Deficit for April - J anuary, 2012-13 was estimated at 167168.12 Million US Dollars Comfort Letter issued by Finance Ministry for sanction of 25000 crore Subsidy Published on: 12-FEB-2013 Important for Exam: 7 people agreed Government of India decided to pay the additional cash subsidy of 25000 crore rupees to the state owned fuel retailers in second week of Feb 2013. Railway Revenue Earnings increased by 20.38 Per Cent During April 2012-January 2013 Published on: 10-FEB-2013 Important for Exam: 4 people agreed The total approximate earnings of Indian Railways on originating basis during 1 April 2012 to 31 J anuary 2013 were 101223.95 crore rupees TRAI:Teledensity declined by 25.97 Million to 895.51 Million in December 2012 Published on: 10-FEB-2013 Important for Exam: 6 people agreed Telecom Regulatory Authority of India(TRAI) stated that total wireless subscriber base decreased from 890.60 million in Nov 2012 to 864.72 million in Dec 2012 CCEA approved increase of MSP of Copra for 2013 season by 150 Rupees per Quintal Published on: 08-FEB-2013 Important for Exam: 6 people agreed CCEA revised the MSP of Milling and Ball Copra for 2013 and increased it by 150 rupees per quintal from the previous years MSP. Economic Growth of India Estimated to Fall To 5 Percent in 2012-2013 FY Published on: 08-FEB-2013 Important for Exam: 13 people agreed The economic growth of India is estimated to fall to 5 percent in 2012- 2013 financial year, which is a lowest figure in 10 years. Authorized Capital of NABARD raised from 5000 crore rupees to 20000 crore rupees Published on: 08-FEB-2013 Important for Exam: 45 people agreed The Union Cabinet of India gave its nod the raise the authorized capital of NABARD aiming towards for enlargement of its operations and activities. Net Direct Tax Collection Grew 12 Percent in April- January in FY 2012-2013 Published on: 07-FEB-2013 Important for Exam: 8 people agreed Gross Direct Tax collection from the period of April to J anuary in fiscal year 2012-2013 increased by 7.02 percent. CCEA gave its nod to Price Pooling Mechanism on Coal to Control Prices of Coal Published on: 06-FEB-2013 Important for Exam: 10 people agreed CCEA approved price pooling mechanism of coal on 5 Feb. 2012 and EGoM gave its nod for disinvestment of 9.5 percent stakes of NTPC. ED Slapped 98.5 Crore Rupees Penalty Notice on Rajasthan Royals Published on: 05-FEB-2013 Important for Exam: 12 people agreed The Enforcement Directorate (ED) slapped the IPL team Rajasthan Royals with a penalty notice of around 100 crore Rupees for violating the Forex laws. BHEL and GAIL Granted Maharatna Status by the Union Government of India Published on: 02-FEB-2013 Important for Exam: 82 people agreed The Union Government of India gave the Maharatna status to two PSUs- BHEL and GAIL on 1 February 2013. Union Ministry for Commerce launched eBiz Portal to Provide one Stop Shop for all Investment Published on: 29-J AN-2013 Important for Exam: 53 people agreed The Union Minister for Commerce on 28 J anuary 2013 launched an eBiz portal at the CII Partnership Summit in Agra Reserve Bank of India slashed Repo Rate to 7.75 Percent and CRR to 4 Percent Published on: 29-J AN-2013 Important for Exam: 78 people agreed The Reserve Bank of India on 29 J anuary 2013 slashed its key interest rates by 0.25 per cent and released 18000 crore rupees Securities and Exchange Board of India revised the Mechanism of Offer for Sale Published on: 26-J AN-2013 Important for Exam: 17 people agreed Securities and Exchange Board of India made revisions in the norms of Offer for Sale on 25 J anuary 2013. Union Commerce Ministry cl aimed that India has crossed One Billion Mark in Tea Production Published on: 26-J AN-2013 Important for Exam: 21 people agreed The figures released in J an. 2013 from the Union Commerce Ministry states that India has crossed the 1 billion mark of tea production FDI Inflow Decreased to Two-Year Low in November 2012 Published on: 24-J AN-2013 Important for Exam: 21 people agreed The inflow of foreign direct investment (FDI) in India decreased to around 2-year low at 1.05 billion US dollar in November 2012. IMF forecasted Indian Economic Growth Rate to be 5.9 percent in 2013 Published on: 24-J AN-2013 Important for Exam: 30 people agreed The International Monetary Fund (IMF) on 23 J anuary 2013 projected that the economic growth rate of India in 2013 would be 5.9 percent Railways decided to undertake a Cleanliness Drive across the Country Published on: 23-J AN-2013 Important for Exam: 4 people agreed The Railways on 22 J anuary 2013 decided to undertake a cleanliness drive at about 100 important stations across the country Union Government of India increased Import Duty on Gold and Platinum by 2 Percent Published on: 22-J AN-2013 Important for Exam: 13 people agreed The Government of India has increased the import duty on platinum and gold from 4 percent to 6 percent. Union Cabinet Approved 50 Percent Reduction in the Reserve Prices for CDMA Spectrum Published on: 18-J AN-2013 Important for Exam: 7 people agreed The Union Government on 17 J anuary 2013 approved a 50 per cent reduction in the reserve price of spectrum used by CDMA mobile operators. Cabinet Committee on Economic Affairs approved the Continuation of JNNURM Published on: 18-J AN-2013 Important for Exam: 21 people agreed The Cabinet Committee on Economic Affairs approved the continuation of the J awaharlal Nehru National Urban Renewal Mission (J NNURM) MTNL launched its Video Telephony Service in Delhi and Mumbai Published on: 18-J AN-2013 Important for Exam: 4 people agreed Government Telecom Service Provider MTNL on 17 J anuary 2013 launched its video telephony service in Delhi and Mumbai CCEA approved Defreeze in the Tariff Value of Edible Oils as per International Market Published on: 18-J AN-2013 Important for Exam: 10 people agreed CCEA gave its approval to defreeze the tariff value of the edible oils as per the international prices prevalent in the International market. Union Government Approved Open Policy and lifted ban on Export of Processed Food Published on: 18-J AN-2013 Important for Exam: 6 people agreed Union Government on 17 J anuary 2013 lifted ban on exports of processed foods and value added agricultural products in order to facilitate uninterrupted supply... Union Government of India raised the cap on Subsidized LPG Cylinders from 6 to 9 Published on: 17-J AN-2013 Important for Exam: 2 people agreed Union Government of India hiked the cap on subsidized cylinders from 6 to 9. The decisions will come into effect from 1 April 2013. Union Government raised LPG Cap to Nine Subsidised Cylinders per Year Published on: 17-J AN-2013 Important for Exam: 5 people agreed The Union government on 17 J anuary 2013 hiked the cap on subsidised LPG cylinders from 6 to 9. The move will be effective from April 2013... Supreme Court of India ended the Tax Exemption of Cookie Man under SSI Notification Published on: 17-J AN-2013 Important for Exam: 3 people agreed SC: ordered End of Tax Exemption for the Australian Foods India Private Limited, makers of Cookie Man cookies claimed under SSI Notification. Union Government Imposed 2.5 Percent Import Duty on Crude Edible Oil Published on: 17-J AN-2013 Important for Exam: 9 people agreed Union government on 17 J anuary 2013 imposed a 2.5 per cent import duty on crude edible oil with keeping the duties unchanged on refined cooking oil... World Bank slashed the Global Growth Forecast to 2.4 Percent Published on: 17-J AN-2013 Important for Exam: 8 people agreed World Bank slashed the Global Growth Forecast to 2.4 percent on 15 J anuary 2013. In J une 2012 it made a forecast of gaining 3 percent growth. The Implementation of GAAR deferred by 2 Years, to Come into Force from 1April 2016 Published on: 16-J AN-2013 Important for Exam: 35 people agreed The implementation of General Anti Avoidance Rules (GAAR) was deferred by two years by the government of India. It will now come into force from 1 April 2016 Krishi Karman Awards for the year 2011-2012 presented by the President of India Published on: 16-J AN-2013 Important for Exam: 23 people agreed Pranab Mukherjee presented the Krishi Karman Awards - 2011-2012 to the best performing states with increased food grain production at Ratrapati Bhawan. Sensex Crossed Crucial 20000 Mark after Two Years Published on: 16-J AN-2013 Important for Exam: 5 people agreed The Bombay Stock Exchange Sensex for second time in a row on 15 J anuary 2013 touched 2-years high. The Nifty, on the other hand, increased to 0.54 percent or 32.55 points, ending at 6056.60. Union Cabinet approved 12517 crore Rupees of Capital Infusion in 10 PSU Banks Published on: 11-J AN-2013 Important for Exam: 20 people agreed The Union Cabinet on 10 J anuary 2013 approved a proposal of infusing 12517 crores rupees in public sector banks so that bank could enhance the lending activity and meet the capital adequacy norms. RBI: Pri vate Sector of India registered a Net Profit of 4.3 percent in First Half of 2012-13 Published on: 11-J AN-2013 Important for Exam: 8 people agreed Data released by RBI, reports that the Private Corporate Sector of India has registered a 4.3 percent increase in the net profits in the first half of 2012-13 Union Government approved Ten Percent Stake Sale in Engineers India Ltd (EIL) Published on: 10-J AN-2013 Important for Exam: 10 people agreed The Union Government on 10 J anuary 2013 approved 10 per cent stake sale in Engineers India Ltd (EIL), which is supposed to bring back a sum of around 800 crore Rupees to the government. RBI set up Working Group to review Banking Ombudsman Scheme Published on: 05-J AN-2013 Important for Exam: 42 people agreed The Reserve Bank of India in the month of J anuary 2013 had set up a working group to evaluate and make improvements in the grievance redressal mechanism for bank customers... Manufacturing Sector Displayed Six-Month Highest Growth in December 2012: Survey Published on: 03-J AN-2013 Important for Exam: 9 people agreed The Purchasing Managers' Index from HSBC survey revealed on 2 J an 2013 that the manufacturing activity of India increased in Dec 2012 to maximum in six months. Domestic Automobile Sales Decreased in December 2012 despite Heavy Discounts Published on: 02-J AN-2013 Important for Exam: 7 people agreed Inspite of offering heavy discounts and attractive offers, automobile companies failed to attract customers, resulting in low sales in December 2012. Rollout of Direct Benefits Transfers started on 1 January 2013 Published on: 01-J AN-2013 Important for Exam: 121 people agreed National Committee on Direct Cash Transfers started roll-out of the Direct Cash Benefits from 1 J anuary 2013 in 43 identified districts of the country