Contents GA Tonic for Syndicate & Canara Bank PO · PDF filePoints to be Updated in the GA Power Capsule of Syndicate & Canara Bank PO released in February 2018..... 14. GA Tonic for

GA Tonic for Syndicate & Canara Bank PO Examinations 2018

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–Contents

GA Tonic for Syndicate & Canara Bank PO Examinations 2018: 7th to 15th February 2018

Banking, Economy & Business Related Current Affairs ............................................................................................. 2

Schemes/Portals/Missions Launched .............................................................................................................................. 3

National & State Related Current Affairs ...................................................................................................................... 3

New Appointments (National & International) ............................................................................................................ 3

Sports ..................................................................................................................................................................................... 4

International Current Affairs ........................................................................................................................................... 4

Defence Current Affairs .................................................................................................................................................... 4

Ranks/ Indexes Released ................................................................................................................................................... 5

Important Days .................................................................................................................................................................... 5

Agreement Signed .............................................................................................................................................................. 6

Awards & Recognition ....................................................................................................................................................... 6

Summits/Events Held ......................................................................................................................................................... 6

Miscellaneous ...................................................................................................................................................................... 6

Obituaries ............................................................................................................................................................................. 6

Static Awareness Capsule for the Syndicate & Canara Bank PO exams 2018: Part 2 ............................................ 7

Summits & the Meetings to be held recently ................................................................................................................ 7

Important Folk Dances in India ....................................................................................................................................... 8

A Brief on Printing & Minting of Currencies in India ................................................................................................ 8

What is the Mudra Scheme? ............................................................................................................................................. 9

Headquarters of the International Financial Organizations ...................................................................................... 9

Important Financial, Economics & Budget Terms ........................................................................................................ 9

Major Controls/Schemes introduced in Banking Sector from 1968 ........................................................................ 11

History of Banking Sector in India ................................................................................................................................ 12

Important Financial Abbreviations ............................................................................................................................... 12

The Headquarters of the important Public-Sector Undertakings............................................................................ 13

Points to be Updated in the GA Power Capsule of Syndicate & Canara Bank PO released in February 2018

.............................................................................................................................................................................................. 14

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GA Tonic for Syndicate & Canara Bank PO Examinations 2018: 7th to 15th February 2018

Banking, Economy & Business Related Current Affairs

Monetary Policy Committee (MPC) decided to keep the policy repo rate under liquidity adjustment facility (LAF) unchanged at 6.0%. Reverse Repo Rate remains at 5.75%, & MSF & Bank Rate at 6.25%. GVA growth for 2017-18 is projected at 6.6%. GVA growth for 2018-19 is projected at 7.2%.

Reserve Bank of India will link the base rate with the MCLR from 1st of April 2018 to ensure expeditious transmission of its policy rate to borrowers. This has been decided to harmonize the methodology of determining benchmark rates by linking base rate to MCLR as it is more sensitive to policy rate signals.

RBI announced setting up ombudsman for addressing customer grievances in non-banking finance companies. RBI will start with deposit-taking NBFCs and widen the scope to cover NBFCs with asset size of Rs 100 crores. There are around 20 banking ombudsmen have been appointed with offices mostly in state capitals.

Competition Commission of India (CCI) imposed a fine of around Rs. 136 crores on search engine major Google for unfair business practices in the Indian market for online search.

IndusInd Bank launched its new Sonic Identity, which is essentially a musical logo called 'MOGO', as part of its branding initiatives.

ONGC (Oil and Natural Gas Corporation) Videsh Ltd and its partners acquired a 10% in a large offshore oilfield Abu Dhabi National Oil Co.’s (ADNOC) in Abu Dhabi for $600 million. It is the first time any Indian company has set foot in oil-rich Emirate.

SBI wrote off bad loans worth Rs 20,339 crores in 2016-17, the highest among all the public-sector banks, which had a collective write off of Rs 81,683 crore for the fiscal.

Direct tax collections grew by nearly 20% between

April and January this year with strong growth in both corporate and personal income tax receipts. Net direct tax collections grew by 19.3% up to January 2018 to Rs 6.95-lakh crore. While net corporate income tax grew by 19.2%, personal income tax receipts rose by 18.6% in January this year. Gross tax collections also grew at a robust 13.3% to Rs 8.21-lakh crore between April 2017 and January 2018.

In order to remove existing ambiguities due to multiple Acts and rules for Small Saving Schemes, GOI proposed merger of Government Savings Certificates Act, 1959 and Public Provident Fund Act, 1968 with the Government Savings Banks Act, 1873.

RBI scrapped numerous loan restructuring programmes, asking banks to immediately identify

defaults and make disclosures every Friday to the RBI credit registry, starting from February 23.

Bank of Baroda decided to exit by March-end its South Africa operations after 21 years amid a probe into alleged compliance lapses by the bank there.

RBI made banks' priority sector norms lenient by saying that all loans to micro small and medium enterprises (MSME) will henceforth qualify as priority sector lending. The sub-target for bank lending to micro enterprises has been 7.50% of adjusted net bank credit. Foreign banks will also have to follow 8% sub-target for lending to the small and marginal farmers.

Bharat Heavy Electricals Limited (BHEL) has bagged an order worth Rs 560 crore from NTPC for setting up a system for emission control at Dadri in Uttar Pradesh.

Static Awareness Related to Banking, Economy &

Business Related Current Affairs

Dr Urjit Patel is the 24th Governor of RBI. RBI Headquarters in Mumbai.

CCI Chairperson- Devender Kumar Sikri, Head Office- New Delhi.

IndusInd Bank Chairman- R. Seshasayee, Headquarter- Mumbai, Owner- Hinduja Group.

ONGC Videsh Ltd (OVL) is the overseas arm of state-owned ONGC, Indian Oil Corp. (IOC) and a unit of Bharat Petroleum Corp. Ltd (BPCL).

SBI Chairman- Rajnish Kumar, Headquarters- Mumbai, Established on- 01st July 1955.

Bank of Baroda Chairman- Ravi Venkatesan, Managing Director & CEO- P.S.Jayakumar. Of the total 5,558







branches, the Baroda (Gujarat) headquartered bank has 107 overseas branches.

Atul Sobti is Chairman & Managing Director of BHEL. Gurdeep Singh is Chairman & Managing Director of NTPC. Head Office of NTPC- New Delhi.

Schemes/Portals/Missions Launched

National Highways Authority of India (NHAI) to start a pilot project called "pay as you use" on the Delhi-Mumbai Highway to study and implement the ability of the system in the country.

Union Minister of State (IC) for Power and New & Renewable Energy, Shri R.K Singh, launched a Web-based monitoring System and a Fly Ash mobile application named ASH TRACK. These platforms will enable better management of the ash produced by thermal power plants by providing an interface between fly ash producers (Thermal Power Plants) and potential ash users such as – road contractors, cement plants etc.

Government has extended the anti-narcotics scheme for 3 more years to combat illicit trafficking in drugs and psychotropic substance. The purpose is to assist states and Union Territories, which are contributing in controlling the inter-state and cross-border drug trafficking.

Static Takeaways from Schemes/Portals/Missions LaunchedNitin Jairam Gadkari is the present Minister

for Road Transport & Highways.

National & State Related Current Affairs

PM Modi left for his three-nation visit to Palestine, the

United Arab Emirates (UAE) and Oman. This is the first ever visit by an Indian PM to Palestine, and PM Modi's second visit to UAE and first to Oman.

President Kovind inaugurated 88th Mahamastakabhisheka Utsav of Lord Gomateshwara in Hassan district of Karnataka. It is also known as Bahubali takes place once in 12 years.

Arunachal Pradesh CM Prema Khandu laid the foundation stone for Rhododendron Park in Tawang. Tawang is home to 50+ different varieties of Rhodos.

Andhra Pradesh govt. decided to hold the first-of-its-kind, one-day Pelican Festival at Atapaka Bird Sanctuary on Kolleru. Kolleru is one of the largest freshwater lakes in the country.

Union Home Minister Rajnath Singh launched Centre for learning Sanskrit language in Gujarat University, Ahmedabad. The centre will offer a six-month course for people on how to speak the language.

Minister of Road Transport & Highways Mr Nitin Gadkari released India’s first ever Highway Capacity

Manual (HCM) in New Delhi. The manual is also known as Indo-HCM and it has been developed by CSIR – CRRI.

Union Minister of State (IC) for Power and New and Renewable Energy, Shri R.K. Singh inaugurated ‘Indian Power Stations 2018’ in New Delhi. It is the three-day International Conference on Operations and Maintenance.

India's 1st Online Radio Station 'Radio Umang' launched in India. Listeners can tune in to this online radio station through web streaming or download the app.

Claiming that the Bengal government had already enrolled 50 lakh people under its own Swasthya Sathi programme, Chief Minister Mamata Banerjee has announced the decision to opt out of Centre’s ‘Modicare’ scheme. This makes West Bengal the first state to withdraw from the ambitious programme.

PM Modi launched several projects in Arunachal Pradesh. He inaugurated the Dorjee Khandu state convention centre at a function in Itanagar.

India's first radio festival is being held in New Delhi to mark World Radio Day. The festival is being organized by International Association of Women in Radio and Television, in collaboration with UNESCO.

Static Takeaways from National & State Related Current Affairs

Palestine Capital- East Jerusalem, Currency- Israeli new shekel (one of its 3).

United Arab Emirates Capital- Abu Dhabi, Currency- United Arab Emirates dirham.

Oman Capital- Muscat, Currency- Omani rial. Karnataka CM- Siddaramaiah, Governor- Vajubhai Vala. Arunachal Pradesh CM- Prema Khandu, Governor-

Brigadier (Rtrd) B D Mishra. Andhra Pradesh CM- N Chandrababu Naidu, Governor-

ESL Narasimhan. CSIR- Council of Scientific & Industrial Research. CRRI- Central Road Research Institute. NHPS stands for National Health Protection Scheme.

New Appointments (National & International)

Rear Admiral Mukul Asthana appointed as Assistant Chief of Naval Staff (Air) at New Delhi.

PepsiCo Chairman and CEO Indra Nooyi appointed as the International Cricket Council's (ICC) first-ever independent female director.

SBI Card, the country's second-largest credit card issuer, appointed Hardayal Prasad as new Managing Director (MD) & Chief Executive Officer (CEO) of the company. He has replaced Vijay Jasuja.

National Payments Corporation of India (NPCI) appointed Biswamohan Mahapatra as non-executive

chairman for two years with immediate effect. He succeeds B Sambamurthy who was the interim chairman.







Kannada litterateur Chandrashekar Kambar elected as president of the Sahitya Akademi in the election held for the post. He has replaced Vishwanath Prasad Tiwari. Hindi poet Madhav Koushik has been elected as vice-president.

Static Takeaways from New Appointments

ICC Chairman- Shashank Manohar, Headquarters- Dubai, The UAE.

HDFC Bank is India's largest credit card issuer. NPCI is an umbrella organisation for retail payment

systems in India. NPCI's Registered Office is in Mumbai. NPCI had recently appointed Dilip Asbe as its Managing Director and CEO.

Sports

Indian women's cricket team pacer Jhulan Goswami has become the first woman in the world to take 200 wickets in ODI.

The first Khelo India School Games concluded in New Delhi with sports powerhouse Haryana topped the

overall medal tally. The state won 102 medals. Maharashtra with 110 medals (36 of them gold) finished second while Delhi with 94 medals came third. Anu Kumar of Uttarakhand grabbed the first gold medal of the Khelo India School Games in 1500 metres Race.

23rd Olympic Winter Games officially kicked off with a colourful ceremony at Pyeongchang in South Korea. Ninety-two countries are participating in the event. There will be 102 medals up for grabs in Pyeongchang, covering seven sports and 15 disciplines.

Sharmila Nicollet become the first Indian golfer to qualify for the China Ladies PGA Tour.

Pune-based swimmer, Rohan More became the first Asian as well as the first Indian to swim across the

Ocean Seven. He is the youngest to complete it. He swam across the Cook Strait between North and South Islands of New Zealand in 8 hours and 37 minutes. With this, More becomes only the ninth person in the world to complete it.

Defending champion Karnataka’s Kishan Gangolli won the 13th edition of the National ‘A’ Chess Championship for the blind in Mumbai. The championship was organised by All India Chess Federation for the Blind (AICFB).

In an effort to put India firmly among the top nations in the world theatre map, India will play host to the 8th Theatre Olympics, the greatest carnival of thespianism. It will be inaugurated at Red Fort.

Tamil Nadu won the Senior Women's National

Football Championship for the first time. Tamil Nadu, which was playing its first-ever final, defeated Manipur, 2-1 at the Barabati Stadium in Cuttack, Odisha.

Static Takeaways from Sports Current Affairs

South Korea President- Moon Jae-in, Capital- Seoul.

International Current Affairs

Bermuda has become the first country to legalise and then repeal same-sex marriage.

The Gevora Hotel in Dubai, developed by Al Attar Group has now become the “world’s tallest hotel”. It stands 356 metres and 53 centimetres tall.

Dubai’s Roads and Transport Authority (RTA) launched first tests of the world’s first autonomous

pods at the World Government Summit. The autonomous pods are launched in cooperation with Next Future Transportation (US-Based).

South Africa's embattled President Jacob Zuma has resigned.

Static Takeaways from International Current Affairs

Bermuda Capital- Hamilton, Currency- Bermudian dollar.

Defence Current Affairs

India successfully test-fired its indigenously developed

nuclear capable Prithvi-II missile from Integrated Test Range at Chandipur, in Odisha. It is capable of carrying 500-1,000 kilogram of warheads and is thrusted by liquid propulsion twin engines. It is a surface-to-surface missile and has a strike range of 350 km.

Hindustan Aeronautics Limited developed the first flight of Hawk-i with indigenous Real Time Operating System (RTOS). Hawk-i is the first indigenous RTOS developed in India from scratch and certified by Center for Military Airworthiness and Certification (CEMILAC).

The defence ministry of India approved capital acquisition proposals worth Rs. 15,935 crore which included the purchase of 7.40 lakh assault rifles, 5,719 sniper rifles and light machine guns to bolster the strength of the armed forces. For the Indian Navy, DAC approved procurement of Advanced Torpedo Decoy

Systems (ATDS) at a cost of Rs. 850 crore. Defence Minister Nirmala Sitharaman constituted a 13-

member advisory committee to monitor and expedite







capital acquisition projects for the modernisation of the armed forces. The committee will be headed by Vinay Sheel Oberoi, former secretary in the government.

Static Awareness related to Defence

S Christopher is the chairman of DRDO. DRDO Headquarters in New Delhi. General Bipin Rawat is the Present Chief of Army Staff.

HAL Chairman- T. Suvarna Raju, Headquarters- Bengaluru.

Ranks/ Indexes Released

Centre for Science and Environment (CSE) ranked the top environment policy think tanks in India while it has secured the 16th position in global rankings as per the ranking by The Think Tanks and Civil Societies Program (TTCSP) of the Lauder Institute at University of Pennsylvania.

Dubai International Airport held on to its No 1 ranking as the world’s busiest airport for international travel, after seeing around 88.2 million passengers in 2017.

Business magazine Forbes released its first-ever Crypto

Rich List, comprising 20 wealthiest people in the cryptocurrency space. The list was topped by Ripple

Co-founder Chris Larsen, who is estimated to have a crypto net worth of $7.5-8 billion.

India increased “substantially” its score in International Intellectual Property (IP) Index, ranking 44th among 50 nations, as per US Chambers of Commerce report. The top 3 countries on the list are- The USA, The United Kingdom and Sweden.

NITI Aayog released the ‘Healthy States, Progressive India Report’. Kerala, Punjab and Tamil Nadu have ranked top among the larger states in terms of overall performance. Jharkhand, Jammu and Kashmir and

Uttar Pradesh are at the top in the terms of annual

incremental performance. Among smaller states,

Mizoram ranked first & among UT, Lakshadweep showed best.

Dubai witnessed 15% growth in tourist arrivals from India in 2017, hosting 2.1 million visitors, retaining top spot as the source market. It also became the first country to cross the 2 million mark in a single year, as per the data published by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism).

Mumbai, India's financial capital is the 12th richest city in the world with a total wealth of $950 billion, as per the report by New World Wealth. The list was topped by New York as the richest city in the world.

Ministry of Tourism compiles monthly estimates of Foreign Tourist Arrivals (FTAs) & FTAs on e- Tourist Visa on the basis of Nationality-wise, Port-wise data received from Bureau of Immigration (BOI). The growth rate in FTAs in January 2018 over January 2017 was

8.4%. The top country availing e- Tourist Visa facilities- UK (18.6%) & the top ports in foreign tourist arrivals

on e-Tourist Visa is New Delhi Airport (37.3%).

Static Awareness Related to Rank & Reports

TTCSP conducts a research on the role policy institutes play in governments and civil societies around the world.

Dubai is a city and emirate in the United Arab Emirates. UAE Capital- Abu Dhabi, Currency- UAE Dirham.

Forbes- American Business Magazine, Founded in- 1917. Headquarters- New York City, USA.

National Institution for Transforming India, also called NITI Aayog, was formed via a resolution of the Union Cabinet on January 1, 2015. Dr Rajiv Kumar is the present Vice Chairman of NITI Aayog.

Minister of State of Tourism (I/C) is Shri. K.J. Alphons.

Important Days

National Productivity Council observed the National Productivity Day (NPD) on 12 February 2018. The theme for NPD 2018 is 'Industry 4.0 Leapfrog Opportunity for India'.

World Radio Day is observed annually on 13 February.

The theme for WRD 2018 is "Radio and Sports".

Static Takeaways from Important Days

The year 2018 is the 60th anniversary of the National Productivity Council (NPC).

Chairman of NPC- Ramesh Abhishek, Headquarters- New Delhi, Established in- 1958.

UNESCO- United Nations Educational, Scientific and Cultural Organization. France's Audrey Azoulay- 11th DG of UNESCO, Headquarters- Paris, France.







Agreement Signed

Google & National Council of Educational Research and Training (NCERT) signed a pact to integrate a course on 'Digital Citizenship and Safety' in information and communication technology curriculum. It was signed on the occasion of Safer Internet Day (06th February).

India and Palestine have signed six Memorandums of

Understanding (MoU)s worth USD 40 million. This was welcomed by Palestinian President Mahmoud Abbas.

India and Oman signed eight MoUs in different areas during PM Narendra Modi’s maiden visit to the Gulf nation. The fields in which the agreements were inked include defence, health and tourism. An MoU on legal and judicial co-operation in civil and commercial matters was also signed. The agreements were inked after Mr Modi held delegation-level talks with the Sultan of Oman, Qaboos bin Said al Said in Muscat.

PM Narendra Modi and Crown Prince Sheikh Mohammad bin Zayed al Nahyan held bilateral talks at the Presidential Palace in Abu Dhabi, the UAE. PM Modi laid the foundation stone of the first Hindu

temple in Abu Dhabi. The two sides inked 5 agreements related to energy & railway sectors, manpower and financial services.

1. MoU between a consortium led by ONGC and Abu Dhabi national oil company for acquisition of 10% stake in offshore concession was inked.

2. MoU aiming to institutionalize employment of Indian workers in UAE to safeguard their interests was also signed.

3. MoU aiming at technical cooperation in rail sector between Ministry of railways and Federal transport authority and maritime of UAE signed.

4. In the area of financial services, MoU between BSE and Abu Dhabi Securities exchange was also inked.

5. MoU between Government of Jammu and Kashmir and DP World was also signed to establish multi-modal logistics park and hub in Jammu comprising warehouses and specialized storage solutions.

On the last day of PM Modi's 3 Nation visit, he addressed business leaders at the 'India-Oman Business Meet', organised by Ministry of Commerce and Industry of Oman, in association with Embassy of India in Muscat.

Awards & Recognition

PM Modi conferred the 'Grand Collar of the State of Palestine' by President of Palestine Mahmoud Abbas, recognising his key contribution to promote relations between India and Palestine. Modi is the first Indian PM to make an official visit to Palestine.

Summits/Events Held

External Affairs Minister Sushma Swaraj attended the opening ceremony of the 32nd Al Jana-driyah festival

in Riyadh, Saudi Arabia. India has been invited as the Guest of Honour country for the festival.

Fifth edition of South Asia Region Public Procurement Conference held in New Delhi. The theme this edition of the conference was “Public Procurement and Service Delivery”.

National Informatics Centre (NIC) organized National Meet on Grassroot Informatics- VIVID 2018 at the India Habitat Centre, New Delhi. The Theme for VIVID 2018 is “Cyber Security and Innovation”.

Institute of Directors organised it’s 12th International

Conference on Corporate Social Responsibility in Bengaluru, Karnataka.

India-Russia Agriculture Business Summit 2018 was held in New Delhi. The two countries discussed trade relations in the agricultural sector. The summit was organized by the Ministry of Agriculture & Farmers Welfare.

Miscellaneous

US-based SpaceX successfully launched the world's most powerful operational rocket Falcon Heavy towards Mars. Falcon Heavy's thrust and capacity are the highest since NASA's Saturn V. It lifted off from Launch Complex 39A at Kennedy Space Center in Florida.

The first ever of its kind in the country chat-based job

search mobile app 'Empzilla' is being launched that will do away with existing limitations of employers and job seekers making selection process quick and cost-effective.

South Central Railway (SCR) become the first railway

zone in the country to complete 100% LED lighting at all the stations under its jurisdiction.

Obituaries

Kathakali maestro Madavoor Vasudevan Nair collapsed on stage and died while performing at Agasthyacodu Mahadeva Temple, Kerala. He was 89.







Actor John Mahoney passed away after a brief illness in Chicago, the USA. He was 77 years old.

Eminent litterateur Chandrasekhar Rath passed away at the age of 89. He died of old age ailments.

Asma Jahangir, Pakistan’s renowned human rights lawyer, social activist and an outspoken critic of the country’s powerful military establishment, passed away of cardiac arrest. She was 66.

Acclaimed Icelandic musician and Oscar-nominated composer Johann Johannsson passed away aged 48.

Static Awareness Related to Miscellanous Current Affairs

Saudi Arabia Capital- Riyadh, Currency- Saudi Riyal.

National Informatics Centre (NIC) was established in 1976. Neeta Verma is the Director General of NIC.

Radha Mohan Singh is the Minister of Agriculture and Farmers Welfare.

Founder and CEO of SpaceX- Elon Musk, Established in- 2002.

Piyush Goyal is the present Railways Minister of India. John Mathai was the first railway Minister of Independent India.

The Cabinet Approvals in February 2018

Union Cabinet chaired by PM Shri Narendra Modi has given the following set of approvals. The Cabinet has approved-

1. Signing of India-Australia MoU for Secondment Programme.

2. Signing and ratification of protocol amending the Agreement between India and China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion.

3. Signing of a MoU with United Kingdom of Great Britain and Northern Ireland on Cooperation in the Field of Skill Development, Vocational Education and Training.

4. Signing of a Memorandum of Cooperation between India and USA on Law Enforcement Training.

5. Discovered Small Fields (DSF) Policy Bid Round-11 for 60 un-monetised discoveries of ONGC and OIL under Nomination and Relinquished Discoveries under PSC Regime.

6. Ratification of the Minamata Convention on Mercury.

7. Placing the new Instrument adopted by International Labour Organization (ILO) Recommendation concerning “The Employment and Decent Work for Peace and Resilience” before the Parliament.

8. Implementation of ‘PM Research Fellows (PMRF)’.

9. Insolvency and Bankruptcy Code (Amendment) Bill, 2017 to replace the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017.

10. Proposal for Amendment to the Micro, Small and Medium Enterprises Development Act, 2006 to change the criteria of classification and to withdraw the MSMED (Amendment) Bill, 2015 – pending in Lok Sabha.

11. Cabinet apprised of an MoU signed between India and Tunisia for cooperation on Youth matters.

12. Changes in the Major Port Authorities Bill 2016.

13. Rationalization of Autonomous Bodies under Department of Health & Family Welfare.

Static Awareness Capsule for the Syndicate & Canara Bank PO exams 2018: Part 2

Summits & the Meetings to be held recently

S.no Name of the Summit/Meeting

Venue

1. Summit of the Americas 2018 Lima, Peru

2. G7 Summit 2018 Canada

3. Euro Summit 2018 Brussels

4. NATO Summit 2018 Brussels

5. 10th BRICS Summit 2018 Johannesburg

6. Our Ocean Summit 2018 Bali

7. 13th G20 Summit 2018 Buenos Aires, Argentina

8. UNFCCC COP 24 {UN Framework Convention

Katowice, Poland

on Climate Change}

11. 44th G7 Summit 2018 Canada

12. 51st ADB Annual Meeting 2018

Manila

13. 18th NAM Summit 2019 Azerbaijan

15. Commonwealth Heads of Government Meet

(CHOGM): CHOGM 2018

London, United Kingdom

16. 7th OPEC International Seminar 2018

Vienna, Austria

17. 33rd ASEAN Summit 2018 Singapore

18. East Asia Summit 2018 Singapore

19. 30th APEC Summit 2018: Papua, New Guinea Port Mores







31st APEC Summit 2019: Chile

20. SCO Summit 2018 Qingdao, China

Important Folk Dances in India

North India

Dumhal: Rauf tribe of Jammu & Kashmir HurkaBaul: Uttarakhand Chholiya: Kumaon region, Uttarakhand Bhangra: Punjab Dhamyal - ‘Dhamyal’ or ‘Dhuph’: Haryana Mayur Nritya: Uttar Pradesh Charkula: Braj region of Uttar Pradesh. Giddha: State of Punjab Haryana: Swang, Naqqal, Dhamal Himachal Pradesh: Nati, Kariyala, Bhagat

Central India

Gaur Dance: Chhattisgarh Muria Dance: Bastar district of Chhattisgarh Saila Dance: Bastar district in the state of Chhattisgarh Kaksar Dance: Bastar district in the state of Chhattisgarh Jawara Dance: Madhya Pradesh Bhagoria Dance: Madhya Pradesh Suwa Dance: Chhattisgarh Grida Dance: Madhya Pradesh

East India

Brita Dance: ‘Brita’ or ‘Vrita’ dance: West Bengal Dalkhai: Odisha. Gotipua: Odisha Bihar: Jadur, Kathaputli, Bhako, Jhijiya

North East India

Hojagiri: Tripura Nongkram Dance: Meghalaya Bagurumba: Assam Bhortal Dance: Assam Cheraw Dance: Mizoram Chang Lo: Nagaland Bardo Chham: Arunachal Pradesh Bihu: Assam

South India

Padayani: Kerala Kolannalu: Andhra Pradesh Parai Attam: Tamil Nadu Karagattam: Tamil Nadu Paampu Attam: Tamil Nadu. Poikal Kudirai Attam: Tamil Nadu Theyyam: Kerala Andhra Pradesh: Veethi Natakam, Burrakatha,

Lambadi, Koya. Telangana: Bathukamma Dollu Kunitha: Karnataka

Ghodemodni: Goa Lava Dance: Lakshadweep Fugdi: Goan dance performed in the Konkan region Veeragase: Karnataka Koli: Maharashtra

West India

Dandiya: Gujarat and Rajasthan Garba: Gujarat Padhar Dance: Gujarat

Rajasthan: Khyal, Rasdhari, Rammat, Gauri, Ghoomar

A Brief on Printing & Minting of Currencies in

India

In India, RBI is engaged in printing of all notes & production of coins is handled by Government under The Coinage Act, 1906.

RBI determines what volume of currency is required at a particular time.

The production of bank notes, coins, non-judicial stamps, postage stamps & other govt. documents is managed by Security Printing & Minting Corporation of India Limited(SPMCIL). It was established in 2006.

A brief on the Printing Presses

a) The first printing press of India Currency Note Press

(CNP) was established in 1928 for printing bank notes in India. This press is located in Nashik, Maharashtra.

b) Bank Note Press (BNP) has two branches located in Mysore, Karnataka & Dewas, Madhya Pradesh. Currently both CNP & BNP print Indian currency.

c) Currency is also printed by RBI which has two printing presses & owned by Bhartiya Reserve Bank Note

Mudran Limited. These are located in Mysore, Karnataka & Salboni, West Bengal.

d) Indian security Press is located in Nashik & Security

Printing Press is located in Hyderabad.

A brief on the Minting of Coins

a) Security Printing & Minting Corporation of India Limited (SPMCIL) comprises four mint:

❖ India Government Mint, Mumbai





https://en.wikipedia.org/wiki/Security_Printing_%26_Minting_Corporation_of_India_Limited

https://en.wikipedia.org/wiki/Security_Printing_%26_Minting_Corporation_of_India_Limited



❖ India Government Mint, Kolkata ❖ India Government Mont, Hyderabad ❖ India Government Mint, Noida b) The main objectives of these mints is to produce coins,

medals & awards, as per the requirements of India. c) Mumbai mint is known for producing standardized

weights & measures. d) Noida is known as the first mint in the country to

produce stainless steel coins.

Points to Remember

❖ Special kind of paper is required for the printing of bank notes & non-judicial stamps. This paper is produced in special Security Paper Mill which was established in 1968 at Hoshangabad, Madhya Pradesh.

❖ 2 currency note printing presses owned by GOI & 2 are owned by RBI , through the Bharatiya Reserve Bank Note Mudran Ltd. (BRBNML). GOI presses are at Nasik (Western India) & Dewas (Central India). RBI presses are at Mysore (Southern India) & Salboni (Eastern India).

❖ Coins are minted in four mints owned by GOI which are located at Mumbai, Hyderabad, Calcutta & NOIDA.

What is the Mudra Scheme?

a) MUDRA stands for Micro Units Development & Refinance Agency Ltd.

b) Financial institution set up by GOI for development & refinancing micro units enterprises.

c) The purpose is to provide funding to the non-corporate small business sector through various Last Mile Financial Institutions like Banks, NBFCs and MFIs.

d) It be responsible for refinancing all Last Mile Financiers such as Non-Banking Finance Companies, Societies, Trusts, Section 8 Companies, Co-operative Societies, Small Banks, Scheduled Commercial Banks and Regional Rural Banks.

e) Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has already created its initial products / schemes. The financial limit for these schemes are:-

Shishu: covering loans upto Rs. 50,000/- Kishor: covering loans above Rs. 50,000/- and upto 5 lakhs Tarun: covering loans above Rs. 5 lakhs to 10 lakhs f) Pradhan Mantri Mudra Yojana is a Government of India

scheme, which enables a small borrower to borrow from banks, MFIs, NBFCs for loans upto 10 lakhs for non-farm income generating activities. Generally, loans upto 10 lakhs issued by banks under Micro Small Enterprises is given without collaterals.

g) Shri Mohammad Mustafa is the Head currently.

Headquarters of the International Financial

Organizations

Name of the Organization HQ

IMF International Monetary Fund Washington, DC

IBRD International Bank for Reconstruction and Development

Washington, DC

IFC International Finance Corporation Washington, DC

IDA International Development Association

Washington, DC

ICSID, International Centre for Settlement of Investment Disputes

Washington, DC

MIGA Multilateral Investment Guarantee Agency

Washington, DC

World Trade Organization (WTO) Geneva

AFDB African Development Bank Abidjan

ADB Asian Development Bank Manila

EBRD European Bank for Reconstruction & Development

London

BIS Bank of International Settlements Basel

EIB European Investment Bank Luxembourg

AACB African Association of Central Banks

Dakar, Senegal

IIB International Investment Bank Moscow, Russia

SEACEN South East Asian Central Banks Centre

Kuala Lumpur, Malaysia

Important Financial, Economics & Budget Terms

Fiscal Responsibility and Budget Management Act: The Act is an attempt to make the Government adhere to a phased plan to reduce fiscal deficit, which denotes an excess of expenditure over revenue.







Dividend Distribution Tax: This is a tax levied on companies that pay out dividends to its shareholders, i.e. share a portion of earnings with them.

Venture Capital Funds: These are funds that invest in startups, a financially riskier proposition than investing in established companies.

Securities Transaction Tax: It is a tax on all transactions done over the stock exchanges involving securities such as shares, derivatives, and equity-linked mutual funds.

Capital Gains Tax: It is a tax on the gains that ensue when an asset is sold for a price higher than what it was bought for.

Ad Valorem Tax: This is charged as a percentage of the value of a good or service, not at a specific rate per unit.

Advance Pricing Agreement (APA): It is an agreement between a taxpaying entity and the taxman that indicates how the former will price transactions with its associates.

Fiscal Consolidation: The term refers to the things a Government does to maintain good fiscal health — cut debt and wasteful expenditure and improve revenue opportunities.

Current Account Deficit: It is a trade measure that shows the value of a country’s imports of goods and services to be higher than the value of its exports.

Bear market: A period during which the majority of securities prices in a particular market (such as the stock market) drop substantially.

Bull market: A period during which the majority of securities prices in a particular market (such as the stock market) rise substantially.

Inflation risk: The risk that the purchasing power of the future value of assets or income will be lower due to inflation.

Interest rate risk: Risk of gain or loss on a security due to possible changes in interest rate levels. When interest rates rise, the market value of a debt security will fall, and vice versa.

Direct and Indirect Taxes

Direct taxes are the one that fall directly on individuals and corporations. For example, income tax, corporate tax etc.

Indirect taxes are imposed on goods and services. They are paid by consumers when they buy goods and services. These include excise duty, customs duty etc.

Customs Duty

These are levies charged when goods are imported into, or exported from, the country, and they are paid by the importer or exporter. Usually, these are also passed on to the consumer.

Primary De cit

The primary de cit is the scal de cit minus interest payments. It tells how much of the Government's borrowings are going towards meeting expenses other than interest payments.

Monetary Policy

This comprises actions taken by the central bank (i.e. RBI) to regulate the level of money or liquidity in the economy, or change the interest rates.

Fiscal policy

It is the government actions with respect to aggregate levels of revenue and spending. Fiscal policy is implemented though the budget and is the primary means by which the government can in uence the economy.

Fiscal De cit

When the government's non-borrowed receipts fall short of its entire expenditure, it has to borrow money form the public to meet the shortfall. The excess of total expenditure over total non-borrowed receipts is called the scal de cit.

Revenue De cit

The difference between revenue expenditure and revenue receipt is known as revenue de cit. It shows the shortfall of government's current receipts over current expenditure.

Capital Budget

It consists of capital receipts and payments. It includes investments in shares, loans and advances granted by the central Government to State Governments, Government companies, corporations and other parties.

Vote on Account

The Vote on Account is a grant made in advance by the parliament, in respect of the estimated expenditure for a part of new nancial year, pending the completion of procedure relating to the voting on the Demand for Grants and the passing of the Appropriation Act.







Guillotine

Parliament, unfortunately, has very limited time for scrutinising the expenditure demands of all the Ministries. So, once the prescribed period for the discussion on Demands for Grants is over, the Speaker of Lok Sabha puts all the outstanding Demands for Grants, Whether discussed or not, to the vote of the House. This process is popularly known as 'Guillotine'.

Public Account

Under provisions of Article 266(1) of the Constitution of India, Public Account is used in relation to all the fund

ows where Government is acting as a banker. Examples include Provident Funds and Small Savings. This money does not belong to government but is to be returned to the depositors. The expenditure from this fund need not be approved by the Parliament.

Major Controls/Schemes introduced in Banking

Sector from 1968

Year Reform Introduced

1962 In order to ensure the safety of deposits of small depositors in banks in India, Deposit Insurance

Corporation Act, 1961 was enacted. Deposit Insurance Corporation of India was established

in January 1962.

1963 Agricultural Refinance Corporation (ARC) was set up by the Act of July 1, 1963. Its objective was to

refinance central land mortgage banks, State cooperative banks and scheduled commercial

banks.

1965 Credit Authorisation Scheme(CAS) was introduced, under which the commercial banks were

required to obtain prior permission of RBI for sanctioning any fresh working capital limits

above the prescribed norm which was revised from time to time.

1968 National Credit Council (NCC) set up in Feb. 1968 to assist RBI & Govt. to allocate credit according

to plan priorities.

1969 Fourteen banks with deposits of over Rs.50 crores were nationalised.

1969 Lead Bank Scheme was introduced to mobilise deposits on a massive scale throughout the

country and also for stepping up lending to the weaker sections.

1972 Concept of Priority Sector was formalised. Specific targets were set out in Nov 1974 for public sector

banks & in Nov. 1978 for private sector banks.

1972 Differential Rate of Interest (DRI) Scheme was instituted to cater to the needs of the weaker

sections of the society and for their upliftment.

1980 Six Banks with demand and time liabilities greater than Rs.200 crore as on March 14, 1980, were

nationalised on April 15, 1980.

1994 Board for Financial Supervision (BFS) was set up within RBI to attend exclusively to supervisory functions & provide effective supervision in an

integrated manner over the banking system, financial institutions, NBFCs & other para-

banking financial institutions.

1995 Banking Ombudsman Scheme was introduced under the provisions of the BR Act, 1949.

2006 Banking Codes and Standards Board of India (BCSBI) was set up by Reserve Bank in order to

provide for voluntary registration of banks committing to provide customer services as per

the agreed standards and codes.

The roadmap for the presence of foreign banks in India was drawn up in February 2005.

Banks were advised to introduce a facility of ‘no frills’ account with nil or low minimum balances in

November 2005.

Recovery of Debts Due to Banks and Financial Institutions Act was enacted in 1993, which provided for the

establishment of tribunals for expeditious adjudication and recovery of non-performing loans.

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002

was enacted in March, 2002.







History of Banking Sector in India

a) The first bank of a joint stock variety was Bank of Bombay, established in 1720 in Bombay. This was followed by Bank of Hindustan in Calcutta, which was established in 1770 by an agency house.

b) The General Bank of Bengal and Bihar, which came into existence in 1773, after a proposal by Governor (later Governor General) Warren Hastings, proved to be a short-lived experiment.

c) The first ‘Presidency bank’ was the Bank of Bengal established in Calcutta on June 2, 1806 with a capital of Rs.50 lakh. The bank was given powers to issue notes in 1823.

d) Bank of Bombay was the second Presidency bank set up in 1840 with a capital of Rs.52 lakh, and the Bank of Madras the third Presidency bank established in July 1843 with a capital of Rs.30 lakh.

e) With the collapse of the Bank of Bombay, the New Bank of Bombay was established in January 1868.

f) The Presidency Bank Act, which came into existence in 1876, brought the three Presidency banks under a common statute and imposed some restrictions on their business.

g) The first Indian owned bank was the Allahabad Bank set up in Allahabad in 1865, the second, Punjab National Bank was set up in 1895 in Lahore, and the third, Bank of India was set up in 1906 in Mumbai. All these banks were founded under private ownership.

h) Swadeshi Movement of 1906 provided a great impetus to joint stock banks of Indian ownership and many more Indian commercial banks such as Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were established between 1906 and 1913.

i) The late Shri Vithal L Kavthekar pioneered the urban co-operative credit movement in the year 1889 in the then princely State of Baroda.

j) The first registered urban co-operative credit society was the Conjeevaram Urban Co-operative Bank, organised in Conjeevaram, in the then Madras Presidency.

Note: They were known as Presidency banks as they were set up in the three Presidencies that were the units of administrative jurisdiction in the country for the East India Company. The Presidency banks were governed by Royal Charters. The Presidency banks issued currency notes until the enactment of the Paper Currency Act, 1861, when this right to issue currency notes by the Presidency banks was abolished and that function was entrusted to the Government.

k) The presidency banks were amalgamated into a single

bank, the Imperial Bank of India, in 1921. It also

functioned as a central bank prior to the establishment

RBI. The Imperial Bank of India performed three set of

functions, viz., commercial banking, central banking and

the banker to the government.

l) By 1930, the number of commercial banks increased to

107 with the Imperial Bank of India still dominating the

Indian banking sector.

m) Indian Central Banking Enquiry Committee was set up

in 1929 to survey extensively the problems of Indian

banking, observed that a central bank be established for

the country.

n) Reserve Bank of India Act 1934 was enacted paving the

way for the setting up of the Reserve Bank of India. The

issue of bank failures and the need for catering to the

requirements of agriculture were the two prime reasons

for the establishment of the Reserve Bank. The banking

sector came under the purview of the Reserve Bank in

1935.

o) The Government, therefore, first implemented the

exercise of nationalisation of the Imperial Bank of India

with the objective of “extension of banking facilities on a

large scale, more particularly in the rural and semi-

urban areas, and for diverse other public purposes”. The

Imperial Bank of India was converted into the State Bank

of India in 1955 with the enactment of the State Bank of

India Act, 1955.

Important Financial Abbreviations

ADRs - American Depository Receipts CAGR - Compounded Annual Growth Rate CDSL - Central Depositary Services (India) Limited ECS - Electronic Clearing Scheme FIIs - Foreign Institutional Investors GETFs - Gold Exchange Traded Funds IFCI - Industrial Financial Corporation of India IPO - Initial Public Offering NSC - National Savings Certificate OTCEI - Over the Counter Exchange of India Limited







Industrial Credit and Investment Corporation of India Bank

NISM: National Institute of Securities Market SIP: Systematic Investment Plan SWP: Systematic Withdrawal Plan AAY: Antyodaya Anna Yojana CAA&A: Controller of Aid Accounts and Audit CFPI: Consumer Food Price Index CIRP: Corporate Insolvency Resolution Process CLSS: Credit Linked Subsidy Scheme DARE: Department of Agricultural Research and

Education DDA: Doha Development Agenda DGCI&S: Directorate General of Commercial

Intelligence and Statistics DGFT: Directorate General of Foreign Trade DIPAM: Department of Investment and public Asset

Management DIPP: Department of Industrial Policy and Promotion DISCOMS: Distribution Companies EBRD: European Bank for Reconstruction and

Development EFTA: European Free Trade Association EIB: European Investment Bank e-NAM: Electronic National Agriculture Market EPCG: Export Promotion on Capital Goods GCC: Gulf Cooperation Council IBC: Insolvency and Bankruptcy Code LFPR: Labour Force Participation Rate M0: Reserve Money M3: Broad money MDGs: Millennium Development Goals NAREDCO: National Real Estate Development Council NCDs: Non-Convertible Debentures NCLT: National Company Law Tribunal NICRA: National Innovations on Climate Resilient

Agriculture PMAY: Pradhan Mantri Awas Yojana PMFBY: Pradhan Mantri Fasal Bima Yojana PMKSY: Pradhan Mantri Krishi Sinchayee Yojana POL:Petroleum Oil and Lubricants RMSA:Rashtriya Madhyamik Shiksha Abhiyan SSA: Sarva Shiksha Abhiyaan SUUTI: Specified Undertaking for Unit Trust of India UDAY: Ujjwal Discom Assurance Yojna

UDISE: Unified District Information System for Education

The Headquarters of the important Public-Sector Undertakings

Agriculture Insurance Company of India: New Delhi Air India Limited: New Delhi Airports Authority of India: New Delhi Bharat Bhari Udyog Nigam: Kolkata, West Bengal Bharat Earth Movers (BEML): Bangalore, Karnataka

Bharat Electronics Limited: Bangalore, Karnataka Bharat Heavy Electricals Limited(BHEL): New Delhi Bharat Petroleum Corporation Limited: Mumbai,

Maharashtra Coal India Limited: Kolkata, West Bengal Damodar Valley Corporation: Kolkata, West Bengal Electronics Corporation of India: Hyderabad, Telangana Fertilizer Corporation of India Limited: Noida, Uttar

Pradesh Food Corporation of India: New Delhi General Insurance Corporation of India Limited (GIC):

Mumbai, Maharashtra Hindustan Aeronautics Limited: Bangalore, Karnataka Hindustan Petroleum Corporation Limited: Mumbai,

Maharashtra India Infrastructure Finance Company: New Delhi Indian Oil Corporation: New Delhi The Jute Corporation of India Limited: Kolkata, West

Bengal Mahanadi Coalfields Limited: Sambalpur, Odisha Mineral Exploration Corporation Limited: Nagpur,

Maharashtra NHPC Limited: Faridabad, Haryana National Aluminium Co Ltd: Bhubaneshwar, Orissa National Aviation Company of India: New Delhi National Buildings Construction Corporation: New

Delhi National Fertilizers Limited: Noida, Uttar Pradesh National Handloom Development Corporation Limited:

Lucknow, Uttar Pradesh National Insurance Co Ltd: Kolkata, West Bengal National Textile Corporation: New Delhi New India Assurance Company: Mumbai, Maharashtra Neyveli Lignite Corporation Limited: Tamil Nadu North Eastern Regional Agricultural Marketing

Corporation: Assam Numaligarh Refinery Limited: Assam Oil & Natural Gas Corporation: Dehradun, Uttarakhand Oil India Limited: New Delhi Oriental Insurance Company: New Delhi Pawan Hans Limited: New Delhi Shipping Corporation of India Limited: Mumbai,

Maharashtra United India Insurance Company: Chennai, Tamil Nadu Uranium Corporation of India: Jaduguda, Jharkhan.







Points to be Updated in the GA Power Capsule of Syndicate & Canara Bank PO released in February 2018

EPF contribution of women employees has been reduced to 8% for the first 3 years of employment & 12% government contribution to EPF in sectors employing a large number of people, however, there will be no changes in employer contribution.

150 km additional suburban railway network at the cost of Rs. 40,000 cr for Mumbai Local.

UDAN will connect 56 unserved airports & 31 unserved heliports.

Govt. announced 88,139 crore rupees capital infusion

in 20 public sector banks, PSBs, during the current fiscal ending 31st March to boost lending & revive growth. IDBI Bank will get the most- Rs10,610 crore followed by Bank of India which will get Rs9,232 crore.

IDFC Bank MD & CEO- Dr. Rajiv Lall, HQ:- Mumbai. Andhra Pradesh is the state called as Egg bowls of Asia.

Also called as rice bowl of India. Usha Ananthasubramanian, MD and CEO, Allahabad

Bank, has been elected the first woman chairman of Indian Banks’ Association (IBA).

Chairman, ISRO: Renowned scientist Sivan K Chairperson of Competition Commission of India:

Devender Kumar Sikri World Economic Forum: HQ: Cologny, Generava,

Switzerland. Shri Pradeep Singh Kharola: Chairman and Managing

Director, Air India Ltd.





Documents

Contents GA Tonic for Syndicate & Canara Bank PO · PDF filePoints to be Updated in the GA Power Capsule of Syndicate & Canara Bank PO released in February 2018..... 14. GA Tonic for