GK Tornado Final - pdf-87
GK Tornado Final - pdf-87
GK Tornado Final - pdf-87
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RBI in News
1. RBI Keeps interest rate unchanged - On 4th October 2016, Reserve Bank of India (RBI) in its third bi-monthly monetary
policy review, kept key policy rates unchanged.
6.25%
(changed)
2.Reverse Repo
5.75%
(changed)
4.00%
(unchanged)
6.75%
(changed)
6.Bank Rate
6.75%
(changed)
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Note: Rates may vary as Fifth Bi-monthly Monetary Policy Statement 2016-17 will announced on December
07, 2016
Below are the basic definitions of the Policy Rates (i) Repo Rate It is the rate at which RBI lends money to commercial banks.
(ii) Reverse Repo rate It is the rate at which RBI borrows money from commercial banks.
(iii) Cash Reserve Ratio (CRR) The share of net demand and time liabilities (deposits) that banks must maintain as cash
balance with the Reserve Bank.
(iv) Statutory Liquidity Ratio (SLR) The share of net demand and time liabilities (deposits) that banks must maintain in
safe and liquid assets, such as, government securities, cash and gold.
(v) Bank Rate It is the rate at which the Reserve Bank is ready to buy or rediscount bills of exchange or other commercial
papers for long term.
(vi) Marginal Standing Facility Rate (MSF) The rate at which the scheduled banks can borrow funds from the RBI
overnight, against the approved government securities is termed as MSF.
Note: Basis points one Basis Point is a unit equivalent to 0.01% i.e. 1/100th of a percent.
2. Reserve Bank of India has given an approval to British payments company Earthport for outbound cross-border payment
services to banks in India.
3. RBI has opened a second office of the Banking Ombudsman in New Delhi, taking into account the significant increase of the
banking network
The first office of the banking ombudsman at RBI, New Delhi, would have control over Delhi and Jammu & Kashmir.
The second office would have jurisdiction over Haryana
4. The Reserve Bank of India on November 23, 2016 declared to increase the limit of the Prepaid Payment Instruments
(PPIs) from Rs. 10,000 to Rs. 20,000 per month and Rs. 50,000 for Merchant Bank to facilitate digital transactions.
5. The Reserve Bank of India increased the Cash Reserve Requirement (CRR) for incremental deposits between September
16 and November 11 to 100% while the current CRR is 4%, effective from November 25, 2016
6. The RBI has planned to open Islamic window in conventional banks.
Aim: Gradual introduction of Sharia-compliant ( interest-free banking) in the country.
7. Due to Increase in NPA, 16 of 22 public sector banks skipped Dividends in FY 16.
Total - Rs 1,444.6 crore as dividend from PSB
SBI alone - Rs 1,214.6 crore, which makes 84% of the total dividend.
8. The RBI has directed banks to waive ATM charges on all transactions done by savings bank customers till - 30th December
2016
9. Construction company Hindustan Construction Company (HCC) became Indias first firm to get Reserve Bank of India's
(RBI) approval for debt recast under Scheme for Sustainable Structuring of Stressed Assets (S4A).
Note:
10. Reserve Bank of India (RBI) hands over West Bengal govt. list of entities raising money illegally___194.
11. The Reserve Bank of India (RBI) has permitted startups to raise external commercial borrowings (ECBs) of up to $3
million in a financial year for three year tenure.
12. The Reserve Bank of India (RBI) released the Report of the Internal Working Group (IWG) on Rationalisation of Branch
Authorisation Policy. The Group is chaired by Lily Vadera, Chief General Manager, and Department of Banking
Regulation.
13. RBI cancelled certificate of registration of five NBFCs - The certificates were cancelled in exercise of the powers conferred
on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
The NBFCs whose certificate of registration were cancelled includes
Simco Consultants Private Limited, Lunkad Securities Ltd, Rajvir Marketing and Investment Private Limited, Crystal
Investments Limited, Shri Jaya Investments Agency Limited (formerly known as Arcot Finance & Agency Limited).
14. Interest subvention scheme announced by RBI for Women Self-Help Groups Reserve Bank of India (RBI) directed all
commercial and Co-operative banks to provide loans to women self-help groups (SHGs) in rural areas at 7 percent per
annum.
Key points
The loans will be provided for the financial year 2016-17 under the Deendayal Antyodaya Yojana - National Rural
Livelihoods Mission (NRLM) in 250 districts.
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All women self-help groups (SHGs) will be eligible for interest subvention on credit up to three lakh rupees at 7
percent per annum.
All banks will be subvented to the extent of difference between the weighted average interest charged and 7%, subject
to the maximum limit of 5.5% for 2016-17.
15. RBI launches Sachet portal to check illegal money collection - The Reserve Bank of India (RBI) has launched Sachet portal,
sachet.rbi.org.in, to check illegal money collection. The portal will help anyone can obtain information regarding entities
that are allowed to accept deposits, lodge complaints and share information regarding illegal acceptance of deposits by
unscrupulous entities.
16. RBI constitutes Tarun Ramadorai Committee on Household Finance - The Reserve Bank of India (RBI) constituted a
committee to look at various facets of household finance in India. The Committee will be chaired by Tarun Ramadorai,
Professor of Financial Economics, University of Oxford.
17. RBI fixes MSS ceiling at Rs30,000 crore for current fiscal year - Reserve Bank of India (RBI) fixed the ceiling under
market stabilisation scheme (MSS), a tool to manage liquidity, at Rs.30,000 crore for the current fiscal.
Note:
(i) This ceiling will be reviewed when the outstanding balance reaches the threshold limit of Rs.15,000 crore.
(ii) The current MSS outstanding balance is zero.
(iii) MSS are securities issued with the objective of providing RBI with a stock of securities with which it can
intervene in the market for managing liquidity. These securities are not issued to meet governments expenditure.
18. The Reserve Bank of India (RBI) released draft guidelines for issuing on-tap universal bank licences. Under the on tap
mechanism an application for banking licence can be made at any time subject to certain conditions.
Tap licensing of universal banks in the private sector:
Allowing individuals with 10 years of experience in banking and finance to apply for a licence successful track
record for at least 10 years are eligible to apply for a licence.
The initial minimum paid-up voting equity capital required is Rs.500 crore, and thereafter the bank should
maintain a minimum net worth of Rs.500 crore at all times.
Applications will be screened by the RBI to assess the eligibility of applicants with regard to the criteria laid down
in the guidelines.
RBI may apply additional criteria to determine the suitability of applications, in addition to the fit and proper
criteria.
RBI Guidelines
Minimum capital requirement: The promoters and the promoter group shall hold a minimum of 40% of the paidup voting equity capital of the bank which shall be locked in for a period of five yearsfrom the date of
commencement of business of the bank.
The promoter groups shareholding shall be brought down to 15% within a period of 12 years from the date of
commencement of business of the bank.
19. As per the Reserve Bank of India (RBI)s annual report 2015-16, Indias GDP growth forecast for FY 17 is 7.6 %.
20. RBI cuts maturity of masala bonds to three years to raise their appeal - To make masala bonds more attractive, the
Reserve Bank of India (RBI) has reduced the minimum tenure of such bonds that an Indian company can issue offshore to
three years from the previously stated five years.
21. Marginal cost of funds-based lending rates (MCLR) - The Reserve Bank of India (RBI) had proposed a new methodology
to calculate Base Rate (Base Rate). It is based on marginal cost of funds methodology. The new methodology is aimed at
bringing uniformity among BRs of banks so that they will be more sensitive to any changes in policy rates of the RBI like
Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), etc.
Key points It was effective on 1 April 2016.
MCLR is the new benchmark lending rate and replaces the base rate for new borrowers
The MCLR rates are revised every months.
It is calculated on the marginal cost of borrowing and return on net worth for banks.
Base Rate
It is defined as the minimum interest rate of a bank below which it is not viable to lend.
It was introduced on 1 July 2010 by the RBI.
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It replaced the benchmark prime lending rate (BPLR), the interest rate which commercial banks charged their most
credit worthy customer.
22. RBI formed Financial Inclusion Fund with 2000 crore rupees corpus: The Reserve Bank of India (RBI) formed a single
Financial Inclusion Fund (FIF) with a corpus of 2000 crore rupees. The fund was formed by merging the Financial Inclusion
Fund (FIF) and Financial Inclusion Technology Fund (FITF). This fund will support the developmental and promotional
activities covered under the financial inclusion initiatives.
23. RBI likely to pay Rs 57,000 crore in dividends to government in 2016-17 - The Reserve Bank of India is likely to pay the
government Rs 57,000 crore in dividends in 2016-17, slightly less than the amount it paid in the current fiscal but much
higher than that in earlier years.
Note: The government has budgeted Rs 69,897 crore through dividends from state-owned banks, financial entities and
RBI, lower than the Rs 73,905 crore it is expected to receive this fiscal.
The budget documents do not provide a break-up of the amount expected from banks and RBI.
Under Section 47 of the RBI Act, 1934 the central bank is mandated to pay balance profits to the government.
24. The Reserve Bank of India has extended the timeline for full implementation of the Basel III capital regulations from March
31, 2018 to March 31, 2019.
Banking/Financial/Economy News
1. Telangana government joined hands with Mumbai
based IDFC Bank to enable cashless transactions
2. BSE opened Regional Investor Service centre in Shimla.
BSE is now available in 24 cities across the country
with the opening of this new service centre
3. Bharti Airtel Starts First Payments Bank Service in
Rajasthan
Interest rate of 7.25% per annum on deposits in
savings accounts.
Accidental insurance of Rs. 1 lakh
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investors will also be allowed to invest up to 25% of
their funds in overseas start-ups
Note: An angel investor is an affluent individual who
provides capital for a business start-up, usually in exchange
for convertible debt or ownership equity.
6. U.S. Agency for International Development (USAID)
and Mumbai-based RBL Bank announced $75 million
Loan Guarantee for clean energy.
7. YES BANK, countrys 5th largest private sector lender
has launched its YES MOBILE 2.0 mobile Banking app.
8. Indias third largest private sector bank Axis Bank has
announced its partnership with Flipkart to launch Axis
Bank Buzz Credit Card.
9. Banks to report frauds of Rs 1 crore and above to
Central Vigilance Commission (CVC)
Vigilance Commissioner - TM Bhasin
10. Standard Chartered Bank launched Unified
Payments Interface (UPI) solution
This UPI solution will enable clients to send and
receive money through a Virtual Payment Address
without entering additional bank account details
UPI enables real time push and pull of funds.
11. Kumbakonam based City Union Bank has introduced
a robot on pilot basis to improve customer service. The
robot is named CUB-LAKSHMI
12. Federal Bank to open its first overseas branch in Dubai.
13. Global payments & technology company MasterCard
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Note: Depositors will get an interest rate of 7.3
on five-year recurring deposit during the quarter
beginning October 1 as against 7.4 per cent they
were getting in the second quarter.
The interest rate on savings deposit has,
however, been kept unchanged at 4 per cent.
24. Monetary Policy Committee - The Union Government
has notified the constitution of the six members
Monetary Policy Committee (MPC).
Key points The Union Finance Minister has used
powers designated under the section 45ZB of the
Reserve Bank of India (RBI) Act, 1934 to constitute
MPC.
Composition of MPC
1. Chairman - Urjit Patel: RBI Governor
2. Member - R Gandhi: Deputy Governor RBI in charge
of Monetary Policy
3. Member - Michael Patra: Executive Director of RBI
4. Member - Chetan Ghate: Professor, Indian Statistical
Institute (ISI)
5. Member - Professor Pami Dua: Director, Delhi
School of Economics (DSE)
6. Member - Ravindra H. Dholakia: Professor Indian
Institute of Management (IIM), Ahmedabad
Note:
(i) The six member MPC has been entrusted with the
task of fixing the benchmark policy rate (repo rate)
required to contain inflation within the specified target
level.
(ii) It will help in determining the Monetary Policy
which in turn adds value and transparency to monetary
policy decisions.
(iii) The meetings of the MPC will be held at least 4
times a year and it will publish its decisions after each
such meeting.
3. Rajeev Misra appointed new Head of Softbank.
4. Bank of Baroda appoints P V Sindhu and K Srikanth
as brand ambassadors.
5. The Centre has constituted a four-member Insolvency
and Bankruptcy Board of India (IBBI) under the
Chairmanship of MS Sahoo.
Note: The main activity of IBBI would be to regulate
the functioning of insolvency professionals,
insolvency professional agencies and information
utilities under the Insolvency and Bankruptcy Code
2016.
6. Union Government set up Public Debt Management
Cell - The Union Finance Ministry has set up a Public
Debt Management Cell (PDMC) with the objective of
deepening bond markets in the country. PDMC will
streamline government borrowings and better cash
management for deepening bond markets.
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taxation and prevention of fiscal evasion with respect
to taxes on income with Cyprus.
15. India has been ranked 35th out of 160 countries in the
World Banks Logistics Performance Index (LPI) 2016.
16. Unified Payment Interface launched - The National
Payments Corporation of India (NPCI) has announced
that Unified Payments Interface (UPI) application has
become operational. The application will allow
customers to make easier real-time payments via
digital means using smartphones.
17. Black money worth Rs.65,250 crore disclosed under
Income Declaration Scheme: Arun Jaitley
18. Kotak Mahindra Bank has acquired Karnataka-focused
BSS Microfinance for Rs 139.2 crore.
19. The International Monetary Fund (IMF) revised
projections for Indias economic growthby 0.2
percentage points to 7.6 per cent for 2016-17 and
2017-18.
20. According to the World Bank Indias GDP Growth
Would be 7.6% this Year, 7.7% In 2017.
21. Financial services company MasterCard rolled out
Selfie Pay app in Europe. This app will use facial
biometrics for payment authentication. It will supports
both selfies and fingerprint biometrics, offering users a
choice of authenticating a mobile payment at the point
of purchase.
22. Bank of Maharashtra (BoM) has renewed its corporate
agency tie-up with United India Insurance Company
(UIIC). Customers can buy the entire gamut of UIIC
products at any of the 1,896 branches of the bank
across the country.
23. The US Agency for International Development (USAID)
announced the launch of a new initiative Catalyst:
Inclusive Cashless Payment Partnership. The multistakeholder partnership is designed to scale up digital
payments systems in India which will act as a catalyst
in the increase of cashless payments in select locations
24. Insurance Regulator IRDAI has imposed a penalty of Rs
6 lakh on Shriram Life Insurance for casual
approach towards certain norms, among other
violations.
25. World Bank president Jim Yong Kim announced
USD 2 billion loans for Bangladesh to help
Bangladesh to fight climate change. The USD 2 billion
for climate change is in addition to USD 1 billion
pledged by world Bank to end childhood stunted
growth.
26. National Bank for Agriculture and Rural
Development(NABARD) has sanctioned Rs 19,702
crore loan to National Water Development Agency
(NWDA) for 50 irrigation projects. The loan is
sanctioned under Long Term Irrigation Fund (LTIF),
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four countries viz. Bangladesh, Pakistan, Indonesia
and Tajikistan.
37. The Asian Development Bank (ADB) approved a
500 million dollars loan to build a bridge across the
Ganga River in Bihar. The loan funds will be used to
build 9.8 km Road Bridge in Bihar on the Ganga River.
On completion of the project it will be the Indias
longest river bridge.
38. India sets up apparel training centre in Kaduna,
Nigeria - India has set up an apparel training centre in
Kaduna, Nigeria to support textiles industry of the
West African country.
39. Union Cabinet approves setting up of India Post
Payments Bank - The Union Cabinet on 1 June 2016
approved setting up of the India Post Payments Bank
(IPPB) as a Public Limited Company under the
Department of Posts, with 100% Government of India
(GOI) equity.
Note:
(i) These banks will be established at an expense
of 800 crore rupees and rolled out in the entire
country in a phased manner.
(ii) The IPPB will obtain banking licence from RBI
by March 2017 and by September 2017.
40. IRDAI proposes to float ecommerce platform for
selling insurance policies - IRDAI has come out with
an exposure draft on e-commerce distribution in which
it has proposed to allow insurance companies and
insurance intermediaries like brokers and agents to
distribute insurance policies by floating e-commerce
platform called Insurance Self-Network Platform
(ISNP).
41. 56 Indian firms feature in Forbes Global 2000
Reliance Industries Limited ranked 1st in India
Firm Category Mukesh Ambani led Reliance
Industries Limited ranked 121st Position which
was improved from 142nd Rank in 2015 on the
Global List
State Bank of India ranked 149 globally and 2nd
position in India
India Largest Private banking Companies ICICI
Bank held 266 rank and HDFC held 275 globally
42. State owned Indian Renewable Energy
Development Agency (IREDA) may be converted into a
Green Bank to enable it to access funding from
overseas banks.
43. The provisional estimates of national GDP for 2015-16
released by Central Statistical Office (CSO) is pegged at
7.6%.
44. No deduction of tax for PF withdrawals of up to Rs
50,000 from June 1 - No tax would be deducted at
source for PF withdrawals of up to Rs 50,000 from June
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bonds - World's first Exchange Traded Fund focused on
India's sovereign bonds was launched by the MCB
Capital Markets and will be listed in Mauritius,
providing global investors access to the Indian
government securities.
50. India Gifts 2,000 Bicycles To Girls In Nepal - India
has gifted 2,000 bicycles to poor dalit girls in Nepal to
encourage them to enrol in schools and enhance the
literacy rate among them.
51. Flipkart introduced - No Cost EMI option to make
online shopping affordable for high-end purchases
through an attractive financing option of Equated
Monthly Installments (EMI) where customers will not
bear additional cost.
52. Axis Bank launched Indias first internationally-listed
certified green bond to finance climate change
solutions around the world at London Stock Exchange
(LSE).
Note:
It will play important role in reinforcing Indias
commitment to produce 175,000 MW of
renewable power by 2022.
This is the first green bond of Axis Bank issued
within its 5 billion dollars Medium Term Note
(MTN) programme, which has also has been listed
entirely on LSE.
What are Green Bonds?
Bonds basically are debt instruments which help
issuer to get capital while the investors receive
fixed income in the form of interest. In case of
Green Bonds, the issuer gets capital from the
investors only if the investment (capital) is being
raised to fund green projects relating to renewable
energy or emission reductions etc.
53. 3 applicants withdraws payments bank license
Three applicants decided to withdraw payments bank
application and announced that they would not be
setting up the bank. The applicants are (i) Cholamandalam Investment and Finance Co
(ii) Sun Pharma promoter Dilip Shanghvi and
(iii) Tech Mahindra Ltd.
Note:
Airtel M Commerce Services become first entity
to receive approval from the Reserve Bank of India
(RBI) to start a payments bank. It is a subsidiary of
Bharti Airtel.
Aditya Birla Nuvo Ltd forms joint venture with
Idea Cellular for payments bank.
FINO PayTech partner with ICICI Bank for
payments bank.
Reliance Industries Ltd. (RIL) had a tie-up with
State Bank of India (SBI) for the payments bank.
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Nilekani, noted entrepreneur and former chairman of
Unique Identification Authority of India (UIDAI).
59. Service Tax rate increased to 15% Before 1st June 2016 only Service Tax was 14% and
Swachh Bharat Cess @ 0.5% would be applicable but
from 1st June 2016 a news cess added i.e. Krishi
Kalyan Cess would also be applicable and then the
effective rate of tax would become 15%.
60. Ratings agency Crisil has downgraded its ratings on
debt instruments of 8 public sector banks (PSBs).
The eight downgraded banks are - Bank of India ,
Central Bank of India , Corporation Bank , Dena Bank
, IDBI Bank , Indian Overseas Bank , Syndicate Bank
and UCO Bank .
61. India becomes third largest oil consumer
According to recently released BP Statistical Review of
World Energy India has surpassed Japan to become
the worlds third-largest oil consumer.
Note:
With demand of 4.1 million barrels a day (bpd),
India is the third-largest consumer behind the
United States (19.39 million bpd) and China
(11.96 million bpd).
Japan slipped to the fourth spot after its oil usage
contracted 3.9% to 4.15 million bpd in 2015
62. Capital Local Area Bank Ltd bank become Indias first
Small Finance Bank (SFB)
Note: The Jalandhar-based Capital Local Area Bank Ltd
(CLABL) becomes the Indias first small area finance
bank (SFB) by flagging-off its operations on April 13,
2016.
63. Independent investor Sunil Sabharwal has become the
first Indian-American to take charge as an Alternate
Executive Director at International Monetary Fund
(IMF).
64. All rural post offices to connect digitally by March
2017. The Indian government is digitally connecting all
1,29,323 gramin dak sewak post offices in rural areas
across the country by March 2017.
65. Dr. R Seetharaman, Group CEO of Doha Bank, has
been honoured with the 2016 Green Economy
Visionary Award.
Note: He has been awarded with this award for his
contribution in environment-friendly activities and
thereby promoting green economy for nearly two
decades.
66. HDFC Bank launches SmartUp for startups - HDFC
Bank has launched SmartUp, a dedicated solution for
startups to fulfil all their banking needs. It was launched
in association with a Mumbai-based start-up accelerator
Zone Startups India (ZSI)
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In this regard, a separate and dedicated window for
grievance redressal also launched in the Income
Tax Business Application (ITBA).
73. RBI cancelled Certificate of Registration of four NonBanking Financial Companies (NBFCs) - RBI cancelled
their certificates in exercise of the powers conferred on
it under Section 45-IA (6) of the Reserve Bank of India
Act, 1934.
The NBFCs whose certificate of registration were
cancelled include
M/s Neelanjali Engineering Private Limited
M/s Novoflex Tradecom Private Limited
M/s Guide Investments and Trading Co. Pvt. Ltd
M/s Enol Ventures Private Limited
74. 100% FDI through Automatic Route permitted in
Asset Reconstruction Companies - The Department of
Industrial Policy & Promotion (DIPP) under Union
Ministry of Commerce & Industry permitted 100%
foreign direct investment (FDI) into asset
reconstruction companies (ARCs) through automatic
route.
75. International Monetary Fund (IMF) retained Indias
growth rate at 7.5 percent for the year 2016.
6.
7.
8.
9.
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CURRENT AFFAIRS
New Appointments/ National
1. New Director-General of Military Operations - LtGeneral A K Bhatt.
2. First woman director of LBSNAA - UpmaChowdhary
3. New Chairman of NHAI - Yudhvir Singh Malik.
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Ambassador
1.
2.
3.
4.
5.
6.
Appointments/ International
1. US President-elect Donald Trump has announced
National Security Adviser - Michael Flynn.
2. New President of the United States of America Donald Trump.
3. New PM of Guinea-Bissau - Umaro Sissoco Embalo
4. New UN Secretary-General - Former Portuguese
Prime Minister Antonio Guterres unanimously
selected by the UN Security Council as the next UN
Secretary-General. He will succeed Ban Ki-moon on 1
January 2017.
5. World Bank reappoints Jim Yong Kim for second term
as President
6. Kristalina Georgieva appointed as the new CEO of IBRD
and IDA
7. Sarabjit Singh Marwah becomes Canadas first Sikh
Senator.
8. First female President of Estonia - Kersti Kaljulaid
9. Abdelilah Bekirane re-appointed Prime Minister of
Morocco
10. New President of Brazil - Michel Temer.
Note: Brazils Senate removed President Dilma
Rousseff from office for breaking budgetary laws.
11. New PM of Nepal - Pushpa Kamal Dahal 'Prachanda'
12. New PM of Tunisia Youssed Chahed.
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Important Committees
1. Committee on Demonetisation - Andhra Pradesh
Chief Minister N. Chandrababu Naidu.
2. Recalibration of Automated Teller Machines (ATM) Task Force headed by S.S Mundra, Deputy Governor,
Reserve Bank of India (RBI)
3. Munialappa committee - to monitor the bird flu
situation and help state governments take steps to
contain the disease.
4. K.S. Valdiya committee - The Saraswati river, so far
considered mythical, did exist, a Governmentconstituted expert committee has found.
5. GS Jha committee - to visit the Cauvery basin area and
assess the ground.
6. Hem Pande committee - to sell subsidised pulses to
ensure that there is no shortage of the item during this
festival season.
7. Mata Prasad committee - suggested an overhaul in
transmission planning to facilitate transfer of power on
economic principles.
8. Justice L Narasimha Reddy committee - to consider
the anomalies, if any, arising out of implementation of
OROP.
9. Pradeep Kumar Sinha committee - to develop the
pan-India road map for trade facilitation
10. Ratan P Watal committee - to suggest steps to
promote card payments
11. Amitabh Kant committee (CEO of NITI Aayog) - to
look at easing the policy regime for e-commerce
players, including the rules for foreign direct
investment (FDI).
12. Arvind Panagariya committee - to prepare a road
map for elimination of poverty. It has suggested setting
up a committee to identify people Below Poverty Line
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Note:
The Laser Interferometer Gravitational-wave
Observatory (LIGO) project that was given the inprinciple approval by the Cabinet planned to
construct in Hingoli district, Maharshtrna.
It is third LIGO laboratory in the world and first
laboratory outside the United States.
The existing laborataries are located in Hanford,
Washington, and in Livingston, Louisiana.
29. The Centre had approved projects worth Rs.350 crore
for developing infrastructure at heritage sites.
30. The government would completely seal the IndiaPakistan border by December 2018, was announced by
Union home minister Rajnath Singh.
31. TIndia would have 100 % electrification for all by May
1, 2017 was the announcement made by the Union
Power Minister Piyush Goyal.
32. Prime Minister Narendra Modi visited Vadodara to
inaugurate the international terminal at Harni
airport on October 22 016.
Harni is only the second green building airport
in country. He would also attend a programme to
distribute man-made limbs and other implements
to more than 8000 Divyangs (disabled persons)
in the city.
33. Prime Minister Modi inaugurated three state-run
mega hydro power of 1,752 MW capacity in Himachal
Pradesh during his day-long maiden visit to the state.
34. Prime Minister Narendra Modi reached Punjab
Agricultural University in Ludhiana and he launched
two schemes-National SC/ST Huband Zero Defect
Zero Effect scheme.
35. Indias second eco-friendly airport in Vadodara is all
set to open its doors to passengers.
36. Activist Irom Sharmila formed a new political party
named Peoples Resurgence and Justice Alliance
(PRJA) ahead of the Assembly polls in Manipur in
2017.
37. The Central Government has proposed a four-slab rate
structure for the Goods & Services Tax, ranging from
zero to 26 per cent, at a meeting of the GST Council.
The tax slabs are fixed at 5, 12, 18 and 28 percent.
38. The Ministry of Shipping ratified the Capital Dredging
Project for Ro Pax Ferry Services between Gogha &
Dahej, in Gulf of Cambay in Gujarat.
39. PM Modi launched #Sandesh2Soldiers campaign
through which people can send their Diwali greetings
and messages to soldiers guarding the nations
frontiers to boost their morale.
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126. The maximum speed of the Indias first semi highspeed train Gatimaan Express is 160 Kmph
Note: Indias fastest train Gatimaan Express Gatimaan
Express has been flagged off from Hazrat Nizamuddin
Railway station to Agra Cantt. Station.
127. Bedaquiline, a newly launched vaccine by Health
Ministry, for Tuberculosis disease.
128. Antyodaya Expres is the newly introduced fully
unreserved, superfast train in India.
Note:
Humsafar is the fully air-conditioned third AC
service with an optional service for meals.
Tejas will be operating at speeds of 130 kmph and
above, it will offer onboard services such as
entertainment, local cuisine, Wi-Fi, etc.
Utkrisht Double-Decker Air-conditioned Yatri
(UDAY) Express will be on busiest routes, which
has the potential to increase carrying capacity by
almost 40%.
International
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15. The yuan joined the dollar, euro, yen and pound in
the IMFs special drawing rights(SDR) basket, which
determined currencies that countries could receive as
part of IMF loans.
16. Mr. Y.K. Sinha, High Commissioner of India
inaugurated the Rabindranath Tagore Memorial
Library and Resource Centre in Sri Palee College at
Horana in Sri Lanka on October 28, 2016. It is
renovated by the Government of India at a total cost of
SLR 38 million.
17. France has become the first country in the world to
ban disposable plastic cups and plates.
18. World's first driverless bus service launched in
French city of Lyon.
19. For the first time, the UN Charter, the seminal treaty of
the United Nations (UN) translated into Sanskrit
Language.
20. The World Health Organisation certified Sri Lanka a
malaria-free nation.
Note: Sri Lanka is the second country in the WHO
South-East Asia Region to eliminate malaria after
Maldives.
21. The United States President Barack Obama designated
the countrys first marine national monument,
Northeast Canyons and Seamounts Marine National
Monument, in the Atlantic Ocean.
22. World's first self-driving taxi service launched in
Singapore.
Note: With this, Singapore became the first country in
the world to launch such service, beating Uber
Technologies Inc by mere days to public road tests of a
technology that could revolutionize the transport
industry.
23. Forbes releases Sixth Annual List of The World's Most
Innovative Companies 2016 - The list is topped by
Tesla Motors for the second consecutive year.
Note:
Five major Indian companies including Asian
Paints, Hindustan Unilever, Tata Consultancy
Services, Sun Pharma and Larsen & Toubro
have been ranked among other companies in the
list.
At number 18, Asian Paints is the highest-ranked
Indian company on the list, featuring on the list for
the fourth time in a row.
Tesla Motors tops the list for the second
consecutive year, followed by Salesforce at the
second position in the list.
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States News
1.
2.
3.
4.
5.
Chhattisgarh has become the first Indian state to adopt a resolution on demonetization of high-value currency notes.
The National Institute of Sowa Rigpa will be established at - Leh (Jammu & Kashmir).
The 2016 Global Citizen India festival has started in the city Mumbai.
'Har Ghar Bijli Lagatar scheme has been launched by the state government - Bihar.
The Pradhan Mantri Awas Yojna -Gramin (PMAY-G) has been launched in the city Agra.
Under the scheme, Rs. 1, 50,000 will be given for each house which will be equipped with many facilities like kitchen
and toilet.
6. The three-day (9-11th) Global Rajasthan Agritech Meet GRAM has begun in the city of Rajasthan - Jaipur.
7. Gujarat government - has started Deendayal generic medicine stores to sell generic medicines in the state.
8. 1st Indian National Open Accuracy Paragliding takes off in - Himachal Pradesh.
9. Indias first LNG-powered bus has been launched in the state - Kerala.
10. Maharashtra is the first state in the country which will have a cyber police station in each district simultaneously.
11. Gujarat CM Vijay Rupani inaugurated a 34-ft long Lamp of Humanity in Ahmedabad, as part of the Vibrant Navratri
celebrations. The lamp is made up of stainless steel 34-feet long and has a diameter of 15.8 feet, with the authorities
claiming that the initiative has already entered the Guinness Book of World Records, as the worlds biggest lamp.
12. Arunachal Pradesh Chief Minister Pema Khandu flagged off an all-women Mt Gorichen expedition. This would be the
first all women team attempting to summit the second highest peak of the state, which is considered as a technical peak
and only seasoned climbers can make it to the top (6,488 m).
13. Centre approves a grant of Rs. 515 Crores for the development of Sagar Port Project in West Bengal
14. Maharashtra government has launched Kaushalya Setu, a skill development programme for students - Students of
Maharashtra State Board of Secondary & Higher Secondary Education who failed to clear Class X or SSC exam, will be
accommodated in skill development courses. The main aim of the initiative to compensate loss of one year of students who
have failed matriculation examination by providing skill-oriented training.
15. Jharkhand has become the first state in the country to implement Direct Benefit Transfer (DBT) in Kerosene Scheme.
The scheme is being implemented in four identified districts of the state from 1st of October 2017. These districts are
Chatra, Hazaribagh, Khunti and Jamtara.
16. Rajasthan has become the first state in India to adopt Central Governments Street Lighting National Programme
(SLNP) in all its urban local bodies (ULB).
17. The worlds largest solar power plant with an installed capacity of 648MW was commissioned at Kamudhi in
Ramanathapuram district of Tamil Nadu. The plant was set up on an area of around 5,000 acres by Adani Group at a
total cost of Rs 4,550 crore. It was connected to the grid through a sub-station.
18. Rajasthan has become the first state in the country to approve sewage and waste water policy.
19. India's first e-court opened at Hyderabad High Court. Hyderabad High Court is the common high court for the
states of Andhra Pradesh and Telangana
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20. Assams Majuli becomes first island district of India - Assams Chief Minister Sarbananda Sonowal inaugurated Majuli as
the 35th district of Assam. With this, Majuli became India's first island district.
Note: Guinness World Records declare Majuli as the largest river island
21. Gumthala Garhu near Pehowa became the first Wifi hotspot village in Haryana circle under the bulk plan of BSNL for
the state.
22. Gujarat become the first state to distribute 2 crore LED bulbs under Unnat Jyoti by Affordable LEDs for All (UJALA)
scheme.
23. South India's first Children's Court inaugurated in Hyderabad.
24. Nagaland Government decided to grant 33 percent reservation to women in Urban Local Bodies (ULBs). The decision was
taken during a cabinet meeting held in Kohima.
25. Indias first Water Metro project launched in Kochi, Kerala. It is the first ever Water Metro project in the country.
Railway in News
1. Union Minister for Railways Suresh Prabhu flagging-off the first freight train in New Delhi which featured a newlydeveloped guard van, which uses solar power to run fans and lights at Delhi Safdarjung Railway Station.
2. Suresh Prabhu inaugurated and dedicated the Okha-Kanalus and Porbandar-Wansjaliya Sections in Gujarat of
Western Railways as Green Corridor Sections.
3. First Happiness Junction of India was inaugurated in Bihars Sonepur railway station of the East Central Railway
(ECR) by Sonepur Divisional Railway Manager (DRM) Manoj Kumar Aggarwal.
4. The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi gave its approval for Railway
projects worth Rs 11,000 crore for improving infrastructure in various states.
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5.
6.
7.
8.
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International
1. Bhumibol Adulyadej - King of Thailand, passes away
2. Shimon Peres, former Prime Minister of Israel, dies
3. Edward Albee - Pulitzer-winning US playwright
passes away
4. Lindsay Tuckett South African, Worlds
oldest cricketer passed away.
5. Islam Karimov - President of Uzbekistan
6. George E. Curry - Legendary journalist George E. Curry,
considered the dean of black press columnists,
7. Sellapan Ramanathan - Singapores longest serving
president
8. Ahmed Zewail - Chemistry Prof and Nobel Laureate
9. Joao Havelange - Former FIFA president and IOC
member
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International
Nobel Prize 2016 - The prizes were announced in different sections, namely Physics, Chemistry, Physiology, Literature, Peace
and Economics.
Nobel Prize 2016
1. Peace Prize
Winner
Juan Manuel
Santos
(Colombia
President)
Awarded for
For his resolute efforts to bring the country's
more than 50-year-long civil war to an end, a
war that took away the lives of at least 220000
Colombians and displaced nearly six million
people.
Origin
Colombia
2. Literature
Bob Dylan
(American
singer)
1. David J
Thouless,
2. F Duncan M
Haldane and
3. J Michael
Kosterlitz
United Kingdom
4. Physiology or Medicine
Yoshinori
Ohsumi
5. Economic Sciences
1. Oliver Hart
&
3. Physics
2. Bengt
Holmstrom
6. Chemistry
1. Jean-Pierre
Sauvage,
2. Sir James
Fraser
Stoddart
and
3. Bernard L
Feringa.
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27. Madhya Pradesh Chief Minister Shivraj Singh Chouhan decided to launch a scheme-Lalima Abhiyan to make Madhya
Pradesh anaemia-free. It will be effective from November 1, 2016.
28. UP Chief Minister Akhilesh Yadav launched the portal of Samajwadi Smartphone Scheme under which smartphones will
be distributed to people in the state ahead of Assembly election.
29. The 'Farm Tourism' scheme launched by Haryana Tourism Minister Rambilas Sharma to attract people to villages.
Under this scheme, farm owners can host tourists under holiday packages.
30. Maharashtra government launched Kaushalya Setu, its skill development programme for students. The state will play
a leading role in fulfilling PM Narendra Modis Skill India Mission-2020.
31. PM launched several schemes including Urja Ganga gas pipeline project in Varanasi. Urja Ganga, 1500 km long gas
pipeline project which costing Rs 51,000 crore to provide piped cooking gas to residents of Varanasi within two years.
32. The Ministry of Science and Technology has started two new initiatives namely Biotech-KISAN (Krishi Innovation
Science Application Network)and Cattle Genomics. Under the scheme, fellowship will be given to women farmers for
training and education in the farm practice.
33. The Union Cabinet chaired by PM Narendra Modi has given its approval to New Productivity Linked Reward(PLR)
Scheme for all Major Port Trusts and Dock Labour Board employees/workers for the years 2015-16 to 2017-18.
34. Smart Ganga City Scheme in 10 cities The scheme was launched by Union Minister for Water Resources, River
Development and Ganga Rejuvenation Uma Bharti and Union Urban Development Minister M Venkaiah Naidu.
Key points:
The scheme was launched in 10 ten important cities through video conference. These cities are
1. Haridwar, 2. Rishikesh, 3. Mathura-Vrindavan, 4. Varanasi, 5. Kanpur, 6. Allahabad, 7. Lucknow, 8. Patna, 9.
Sahibgunj, 10. Barrackpore.
These cities were chosen as part of the Phase-I of the National Mission for Clean Ganga (NMCG) for infrastructure
development for sewage treatment.
35. Odisha government has launched Madhubabu Aain Sahayata Sibir (MASS) scheme to provide legal assistance to
deprived sections of the society at the grassroots level. The scheme has been named after great Odia lawyer Madhu Babu,
who is considered as the first lawyer of Odisha.
Key Features of Scheme
State government will provide free legal consultations to deprived sections of the society by setting up legal
assistance cells in all 6,812 gram panchayats across the state.
Legal assistance will be given in shape of free legal aid in order to ensure that opportunities for securing justice
are not denied to any citizen for economic and other reasons.
36. Swadesh Darshan scheme The scheme was launched by Union Tourism Ministry with an aim to develop theme based
tourist circuits in the country.
Key points:
The Union Government has approved 450 crore for the scheme.
The scheme was launched in 5 states for the development of Heritage circuit in Madhya Pradesh and Uttarakhand,
Ramayana Circuit in Uttar Pradesh, North East Circuit in Sikkim and Coastal Circuit of Tamil Nadu.
37. Biju Kanya Ratna Yojana (BKRY) - The scheme was launched by the Odisha Government for the development of girls in
three districts of the state which are - Ganjam, Dhenkanal and Angul. The objective the scheme is to improve Sex Ratio at
Birth (SRB) and Child Sex Ratio (CSR) in the three districts.
38. National Apprenticeship Promotion Scheme (NAPS) The scheme was announced by the union government which
aims to providing apprenticeship training to over 50 lakh youngsters in order to create more jobs.
Key points
The Scheme has an outlay of 10,000 crore rupees with a target of 50 Lakh apprentices to be trained by 2019-20.
Central Government will also directly share 25% of the total stipend (maximum of 1,500 rupees per month per
apprentice) payable to an apprentice with employers.
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39. Indian Railway launched Insurance scheme for passengers travelling on e- ticket The scheme was launched by
Union Railway Minister Suresh Prabhu in New Delhi.
Key points
Person booking a train ticket through the IRCTC website will be eligible for the travel insurance and it is optional.
To avail the facility, train passengers have to pay 92 paisa premium. The insurance cover will not be applicable for
children upto 5 years of age and foreign citizens.
The facility will be available only for confirmed and RAC ticket passengers. The scheme offers travellers or nominees
a compensation of 10 lakh Rupees in the event of death or total disabilty, 7.5 lakh Rupees for partial disability.
Besides it will pay upto 2 lakh Rupees for hospitalisation expenses and 10,000 rupees for transportation of mortal
remains from the place of a train accident.
40. E-Library Sugamya Pustakalaya - The Union Government has launched Accessible E-Library Sugamya Pustakalaya for
Divyang under Prime Ministers Sugamya Bharat Abhiyan. It was jointly launched by Union Ministers Ravi Shankar Prasad,
Prakash Javadekar and Thawar Chand Gehlot at a fucntion in New Delhi.
Key points
Sugamya Pustakalaya is an online library for Divyang and houses publications across diverse subjects and languages
and multiple accessible formats.
In this online library books will available in accessible formats for people with visual impairment and other print
disabilities.
It will house over 2 lakhs books in diverse languages. It will also integrate libraries across India and the Globe,
including the largest international library Bookshare.
41. Mission Bhagiratha, safe drinking water scheme launched in Telangana The scheme was launched by Prime
Minsiter Narendra Modi. It was launched by state Government at Komatibanda Village, Gajwel in Medak District of
Telangana.
Key points
Mission Bhagiratha is a water grid project that aims to provide safe drinking water to all even to remotest places in
Telangana.
The objective of the scheme is to provide 100 litres of clean drinking water per person in rural households and 150
litres per person in urban households. Under it safe drinking water will be provided to about 25000 rural habitations
and 67 urban habitations.
42. Baristha Bunakar Sahayata Yojana launched in Odisha - The Odisha Government had launched Baristha Bunakar
Sahayata Yojana, a special assistance scheme for elderly weavers. The scheme was launched by Chief Minister Naveen
Patnaik on the occasion of the second National Handlooms Day (observed on 7th August). The scheme aims at improving
the financial condition of over 8,000 weavers in the state.
43. DISHA scheme launched by govt. - The Union Government has constituted the District Development Coordination and
Monitoring Committee (DDCMC) for effective development and coordination of Central Governments programme. It will
be known as DISHA.
Key points It will monitor the implementation of 28 schemes and programmes of Union Ministry of Rural Development and
other Ministries to promote synergy and convergence for greater impact.
The main purpose of the DISHA is to coordinate with Central and State and local Panchayat Governments.
It has been created for effective coordination and development of Central Governments programme for
infrastructure development or Social and human resource development.
44. Himayat programme launched in J & K The scheme was launched in Jammu & Kashmir. The govt. had approved
nearly 1,600 crore rupees for the implementation of the Hinayat Programme in the state.
Key points
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The programme aims to provide training in various job-intensive vocational courses over the next three years to youths
from both rural and urban areas of J&K.
Himayat is a placement linked skill development initiative for training and placement of 1 lakh youths from J&K in
next 5 years. Himayat is an Urdu word which means support.
45. Pradhan Mantri Kaushal Vikas Yojana The Union Cabinet allocated Rs. 12,000 crore rupees to Pradhan Mantri
Kaushal Vikas Yojana (PMKVY). PMKVY is the flagship outcome-based skill training scheme of the Union Ministry of Skill
Development & Entrepreneurship. It is skill certification and reward scheme.
Key points
Objective of the scheme is to enable and mobilize a large number of Indian youth to take up outcome based skill
training and become employable and earn their livelihood.
Under the scheme, trainees who are successfully trained, assessed and certified in skill courses run by affiliated
training providers will be provided with monetary reward.
46. PM Narendra Modi launches Smart city Mission Projects in Pune - Prime Minister Narendra Modi launched the Smart
City Mission involving 83 projects from 20 different cities in the country.
Key points
The Smart City Mission projects launched included 14 projects of Pune (Maharashtra) and 69 projects from 20
different shortlisted cities in the country to be implemented at a cost of 1,770 crore rupees.
These projects are related to water supply projects, sewage treatment plants, solid waste management under
Swachh Bharat Mission and development of green and open spaces under Atal Mission for Rejuvenation and Urban
Transformation (AMRUT).
It also includes housing projects for urban poor under Pradhan Mantri Awas Yojana (PMAY) and area development
and technology based pan-city solutions under Smart Cities Mission.
47. Prime Minister launched Pradhan Mantri Ujjwala Yojana at Ballia - Prime Minister Narendra Modi launched the
Pradhan Mantri Ujjwala Yojana (PMUY) at Ballia, Uttar Pradesh. It will benefit the poor, especially the women.
Key points
The scheme aims to provide cooking gas connections to five crore below-poverty-line beneficiaries over the next three
years.
PM Ujjwala Yojana will provide 5 crore LPG connections to BPL Families
FM had announced about the scheme in his 2016-17.Budget Speech with a budgetary provision of 2000 crore rupees.
It will be implemented at an estimated cost of 8000 crore rupees over three years between April 2016 and March
2019 to cover 5 crore BPL households.
48. Interest Subvention Scheme for farmers - The Union Cabinet has approved the Interest Subvention Scheme for farmers
for the year 2016-17. For this purpose Union Government has earmarked a sum of 18,276 Crore Rupees.
Key points
The scheme will help farmers getting short term crop loan payable within one year up to 3 lakhs Rupees at only 4%
per annum.
Interest subvention for providing short term crop loan to farmers has been provided to Public Sector, Private Sector,
Cooperative, Regional Rural banks and NABARD.
Union Government will provide interest subvention of 5% per annum to all farmers for short term crop loan up to 1
year for loan upto 3 lakhs rupees for year 2016-17. Thus farmers will have to effectively pay only 4% as interest.
In case they fail to repay loan in time they would be eligible for interest subvention of 2% as against 5% available
above. Union Government will provide an interest subvention of 2% i.e an effective interest rate of 7% for loans upto 6
months to give relief to small and marginal farmers who borrow at 9% for the post-harvest storage of their produce.
49. Ujjwal Discom Assurance Yojana (UDAY) - The Union Cabinet has approved proposal of extending the deadline for
implementing the Ujjwal Discom Assurance Yojana (UDAY) by a year to March 31, 2017.
Key points
With this decision, states shall take over 75% of ailing DISCOM (Power Distribution companies) debt as on 30th
September, 2015 by 31st March, 2017 by issuing Bonds.
It is considered as a significant step in realising the vision of proving 24X7 affordable and environment friendly
Power for All.
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This intervention will also lower the interest burden of debt and allow states, which could not join UDAY earlier to
put DISCOMs reforms on accelerated path.
About Ujjwal Discom Assurance Yojana (UDAY)
The UDAY scheme aims at bringing ailing power discoms to a state of operational efficiency, with state
governments taking over up to 75% of their respective debt and issuing sovereign bonds to pay back the lenders.
So far, 19 states have given in principle approval to join the scheme, out of which 10 states have signed MoUs
with the Union Government.
50. Union Cabinet approves National Apprenticeship Promotion Scheme - The Union Cabinet has approved a National
Apprenticeship Promotion Scheme (NAPS) for providing apprenticeship training to over 50 lakh youngsters in order to
create more jobs.
Key points
The Scheme has an outlay of 10,000 crore rupees and a target of training 50 lakh apprentices by 2019-20.
It will be implemented by Director General of Training (DGT) under the aegis of Union Ministry of Skill Development
and Entrepreneurship (MSDE).
51. Namami Gange projects for cleaning river Ganga launched - Union Government launched various projects under
Namami Gange programme for cleaning of river Ganga and its tributaries from Haridwar, Uttarakand.
It was launched by Union Water Resources Minister Uma Bharti.
Key points The Namami Gange Programme aims at cleaning the holy river and ensuring its unfettered flow. Union government has
allocated Rs. 20,000 crore budget for it.
Under it, projects such as modernization and redevelopment of Ghats, crematoriums and other development activities
will be undertaken.
52. Union Government launches UJALA Scheme - The Union Government has launched National LED programme Unnat
Jyoti by Affordable LEDs for All (UJALA). It was launched by Union Minister for State (IC) for Power, Coal and Renewable
Energy Piyush Goyal in Bhopal, Madhya Pradesh.
Key points
The UJALA scheme is being implemented by Energy Efficiency Services Limited (EESL), a joint venture of PSUs under
the Union Ministry of Power.
It is LED based Domestic Efficient Lighting Programme (DELP). Under it, 3 crore LED Bulbs will be distributed in
Madhya Pradesh in the next 6 months.
Under it, people of Madhya Pradesh will get subsidiesed 9W energy efficient LED bulbs by paying just 85 rupees per
LED bulb. The scheme will help reduce electricity bills of consumers, contribute to the energy security of India and
also help in environment protection.
53. Andhra Pradesh Government launches Chandranna Bima Yojana - Andhra Pradesh Government has launched
Chandranna Bima Yojana, an insurance scheme for the working class people. The scheme was launched by Chief Minister
N Chandrababu Naidu on the occasion of May Day in Vijayawada.
54. Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) - Agriculture Irrigation Scheme.
Key points:
Scheme aims at providing irrigation facilities to every village in the country by converging ongoing irrigation schemes
implemented by various ministries.
Budgetary allocation: 1,000 crore rupees for fiscal year 2015-16.
Funding Pattern: Centre- States will be 75: 25 per cent. In case of north-eastern region and hilly states it will be 90:10.
55. Sukanya Samriddhi Yojana: It is a small deposit scheme for the girl child.
Key points of the scheme
In one family, a maximum of two accounts can be opened for two girl children. The account can be transferred anywhere
in India from one Post office/Bank to another.
Age Limit: The upper age limit of the girl child for opening this account is 10 years. The govt. has given a relaxation of
one year in the upper age limit for those opening accounts till December 1, 2015.
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Documents required - 1. Birth Certificate of the girl child. 2. Address proof. 3. Identity proof.
Minimum & Maximum deposit: The minimum deposit under the scheme is Rs. 1000/-. The maximum deposit is Rs.
1.5 lakhs. There is no limit on the number of investments one can make in an account either in a month or in a year.
Interest rate: The government will announce the interest rate of the scheme every year. However, the government of
India has increased the rate of interest from 9.1% (2014-15) to 9.2% (2015-16) for this financial year.
Maturity period: The maturity period of the scheme is 21 years from the date of account opening, though deposits
need to be made only for the first 14 years.
The minimum lock-in in period under the Sukanya Samriddhi Yojana is 11 years.
56. Pradhan Mantri Kaushal Vikas Yojana (PMKVY):
The scheme aims to impart skill training to youth with focus on first time entrants to the labour market and class 10 and
class 12 drop outs.
The scheme will be implemented by the Union Ministry of Skill Development and Entrepreneurship through the National
Skill Development Corporation (NSDC). I
t will cover 24 lakh persons and skill training would be based on the National Skill Qualification Framework (NSQF) and
industry led standards
57. Bhagyashree scheme: It is girl child scheme was launched in Maharashtra. Bollywood actress Bhagyashree is the brand
ambassador of the scheme.
Key points of the scheme:
The state government will deposit an amount of 21200 rupees in bank for a girl child born in a Below the Poverty Line
(BPL) family.
The scheme aims at providing one 1 lakh rupees on maturity after the girl completes 18 years of age.
The scheme would be linked to the Beti Bachao Beti Padhao scheme of Union Government.
58. Rashtriya Avishkar Abhiyan (RAA): Former President of India Dr. APJ Abdul Kalam launched the Rashtriya Avishkar
Abhiyan (RAA) in New Delhi. The abhiyan aims to inculcate a spirit of inquiry, creativity and love for Science and
Mathematics in school children. Rashtriya Avishkar Abhiyan is a concept developed by the Ministry of Human Resource
Development. RAA is an effort to take forward the Prime Minister Narednra Modis vision of Digital India, Make in India
and Teach in India.
59. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): It is a low premium insurance scheme which will link with the
Pradhan Mantri Jhan Dhan Yojna.
Key points of the scheme:
Eligibility: Minimum 18 years and maximum 50 years and have bank account are eligible for the scheme. If the account
is opened before attaining the age of 50 years, the life cover would remain intact up to the age of 55 years, if premium is paid
regularly.
Premium - Rs.330 per year i.e. less than Rs.1 per day.
Risk coverage - Rs.2 Lakh in case of death for any reason.
The premium paid will be tax-free under section 80C and also the proceeds amount will get tax-exemption u/s 10(10D).
60. Atal Pension Yojana (APY): It is a scheme mainly for workers in unorganised sector. The scheme will be administered by
the Pension Fund Regulatory and Development Authority (PFRDA) and replace the previous government's Swavalamban
Yojana NPS Lite.
Key points of the scheme:
The subscribers who will joined the scheme would receive the fixed pension of Rs. 1000 per month, Rs. 2000 per month,
Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions.
Age limit: minimum 18 years and maximum age is 40 years.
A subscriber can contribute for minimum period of 20 years or more and pension payment will start at the age of 60
years.
The government of India has decided to co-contribute 50% of the subscriber's contribution or Rs. 1000 per annum,
whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from 2015-16 to 2019-20, who join
the NPS before 31st December, 2015 and who are not income tax payers.
61. Pradhan Mantri Suraksha Bima Yojana (PMSBY): It is an insurance scheme which covers death or disablement of the
policyholder caused due to accident or accidental injuries.
Key points of the scheme:
Age limit: Minimum 18 yrs and maximum 70 years.
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The scheme will be a one year cover, renewable from year to year and would be administered through the Public Sector
General Insurance Companies in collaboration with Banks.
Risk coverage: Rs. 2 Lakh and for partial disability cover of Rs. 1 Lakh.
Premium: Rs.12 per annum. The premium will be directly auto-debited by the bank from the subscribers' account.
Sports News
Olympics 2016 The Summer Olympics 2016 Games held at Rio de Janeiro, Brazil. The 2020 Summer Olympics will be held
in Tokyo, Japan.
Key points Rio became the first South American city to host the Summer Olympics.
Two new sports added - The two new sports for 2016 Olympic Games were golf and rugby sevens.
Mascot - The official mascot of the 2016 Summer Olympics was Vinicius.
India at Rio Olympics 2016 Abhinav Bindra is the flag bearer and leads Indian contingent at the opening ceremony at Rio Olympics 2016.
Sakshi Malik is the flag bearer and leads Indian contingent at the closing ceremony at Rio Olympics 2016
Narsingh Yadav - The Court of Arbitration for Sport (CAS), banned wrestler Narsingh Yadav for four years following an
appeal by World Anti-Doping Agency (WADA).
Amul is the official sponsor to Indian Olympic Association (IOA) for Rio Olympics 2016
Medal Winner
1. Wrestler Sakshi Malik won the bronze medal in the 58 kg category to become India's first female wrestler to win an
Olympic medal.
2. Badminton player P V Sindhu won historic silver medal in womens singles badminton event. With this, she became
the first Indian woman to clinch a silver medal in Olympics.
Medal Standings Country
1. United States
2. Great Britain
3. China
4. Russia
5. Germany
67. India
Gold
46
27
26
19
17
0
Silver
37
23
18
18
10
1
Bronze
38
17
26
19
15
1
Total
121
67
70
56
42
2
Paralympics 2016 - The 2016 Summer Paralympic Games held at Rio de Janeiro, Brazil.
Key Points Devendra Jhajharia, who became Indias first Paralympic gold medallist in Athens 2004, was the flag-bearer for the
Indian contingent.
1. Mariyappan Thangavelu wins Indias first Gold medal at Rio Paralympic Games
Note: He won the gold in the Mens High Jump T-42 event with a leap of 1.89 metres.
2. Javelin thrower Devendra Jhajharia wins gold medal at Rio Paralympics 2016.
Note:
He became the first Indian to clinch two gold medals at the Paralympics.
He won first gold medal in Athens 2004.
3. Deepa Malik (Shot put) becomes first Indian woman to win medal at Paralympics.
Note: She clinched Silver medal in the shot put F-53 event.
I. Cricket News
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Test
1. England - 2017
2. India 2021
T20
1. India -2016
2. Australia 2020
Winner
West Indies
West Indies
West Indies
Runner up
England
Australia
India
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Winner
Stan Wawrinka (Switzerland)
Angelique Kerber (Germany)
Britains Jamie Murray and
Brazils Bruno Soares
Runner up
Novak Djokovic (Serbia)
Karolna Plkov (Czech Republic)
Pablo Carreno Busta and Guillermo Garcia
Note: With this, Murray became the first British man for 44 years to win the US Open doubles title. Soares also became the
first Brazilian to win more than one Grand Slam doubles title.
Wimbledon 2016
Category
Mens Single
Womens Single
Mens Doubles
Winner
Andy Murray (Britain)
Serena Williams (US)
French pair of Pierre-Hugues
Herbert and Nicolas Mahut
Runner up
Milos Raonic (Canada)
Angelique Kerber (Germany)
French pair Julien Benneteau and douard
Roger-Vasselin
Womens Doubles
Mixed Doubles
Note:
Serena Williams equalled Steffi Graf's open era record of 22 Grand Slam titles
Britain's Andy Murray became Wimbledon champion for the second time.
Category
Mens single
Womens single
Women's double
Mens Doubles
Runner up
Andy Murray
Serena Williams
E Makarova and E
Vesnina (Russia)
M Bryan and B Bryan (the
USA)
Note;
It was Djokovic's first French Open title and 12th major title of his career. Other 11 titles include six Grand Slam titles from
the Australian Open, three from Wimbledon and two from the US Open. Among men, only Roger Federer (17), Rafael Nadal
(14) and Pete Sampras (14) own more.
1. Petra Kvitova wins 2016 WTA Elite Singles Trophy.
2. Kontinen and Peers win 2016 BNP Paribas Masters
Doubles title.
3. 2016 China Open Men's Singles - Andy Murray won
the 2016 China Open Men's Singles title at the National
Tennis Center in Beijing, China. He defeated Grigor
Dimitrov by 64, 76.
4. 2016 China Open Women's Singles - Polands
Agnieszka Radwanska won the 2016 China Open
Women's Singles at the National Tennis Center in
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Football
FIFA (Football) World Cup Venue
1. Russia 2018
2. Qatar - 2022
Hockey
Hockey World Cup venue
Venue
Year
1. India (Mens)
2018
2. England (Womens) 2018
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5.
6.
7.
8.
Badminton
1. Shuttler Pratul wins Bahrain International Challenge
title.
2. Saina Nehwal appointed member of International
Olympic Committee's (IOC) Athletes' Commission
Athletes' Commission
3. Brazil Open Grand Prix - India's mixed doubles pair
of Pranaav Jerry Chopra and N Sikki Reddy won the
title after defeating Canadian combo of Toby Ng and
Rachel Honderich 21-15, 21-16 in straight games at
Costa Cavalcante.
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Guard Exercise
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_______________________________
Best wishes for your exams!
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