August Current Affairs

8/20/2019 August Current Affairs

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IMPORTANT DAYS IN AUGUST/SEPTEMBER

August 15: Independence Day (India )

August 2: Internatinal Day for the Remembrance of the Slave Trade and its

Abolition

August 29: National Sports Day ( Birthday of Dhyan Chand )

5 SEPTEMBER: Teacher’s Day (Birth Day of S. Radha krishnan)

8 SEPTEMBER: World Literacy Day

14 SEPTEMBER: World Fraternity and Apology Day

14 SEPTEMBER: Hindi Diwas ( Day)

15 SEPTEMBER: Engineer’s Day

16 SEPTEMBER: World Ozone Day

20 SEPTEMBER: Railway Police Force (RPF) Foundation Day

21 SEPTEMBER: Alzheimer’s Day

24 SEPTEMBER: World Deaf Day and World Heart Day

27 SEPTEMBER: World Tourism Day

IMPORTANT ABBERVATIONS

ADB Asian Development BankAIDBs All India DevelopmentBanksAIFIs All India Financial Institutions

A LM Asset Liability ManagementAMC Asset Management CompanyARCs Asset ReconstructionCompaniesATM Automated Teller MachineATS Automatic Transfer Service

BACS Bankers Automated ClearingSystem

BPL Below Poverty Line

BPLR Benchmark Prime LendingRateBPO Business Processes OutsourcingBR Base Rate

CAAP Capital Adequacy AssessmentProcess


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CACP Commission for AgriculturalCost and PricesCEO Chief Executive Officer

CFO Chief Finance OfficerCFMS Centralised FundsManagement SystemCFS Committee on the FinancialSystemCFS Consolidated FinancialStatementsCHAPS Clearing House AutomatedPayment SystemCRR Cash Reserve Ratio

CSGLA Constituent’s SubsidiaryGeneral Ledger AccountCSIR Council of Scientific andIndustrial ResearchCSO Central Statistical OrganisationCWC Central WarehousingCorporation

DPN Derivative Usance Promissory

NoteDPs Depository ParticipantsDRI Beneficiaries of DifferentialInterest rateDRT Debt Recovery TribunalsDSA Direct Selling AgentDSCR Debt Service Coverage RatioDTA Domestic Tariff Area

ECB External Commercial Borrowing

ECS Electronic Clearing ServiceEMI Equated Monthly InstalmentEPS Earnings Per ShareERP Enterprise Resource PlanningETFs Exchange Traded FundsEU European Union

EXIM Bank Export-Import Bank ofIndia

FCP Farmers Club ProgrammeFCRA Forward Contract RegulationActFD Fixed depositFDI Foreign Direct InvestmentFDIC Federal Deposit InsuranceCorporationFEMA Foreign ExchangeManagement ActFERA Foreign Exchange Regulation

ActFIP Financial Inclusion PlanFIU-IND Financial Intelligence Unit-IndiaFOB Free-on-BoardFRNs Floating Rate NotesFRO Foreigners Registration OfficerFRRO Foreigners RegionalRegistration Officer

FSS Financial Software SystemsFTT Foreign Travel Tax

GDCF Gross Domestic CapitalFormationGFD Gross Fiscal DeficitGIC General Insurance Corporationof IndiaGIPSA General Insurance PublicSector Association

GNP Gross National ProductHRD Human Resources DevelopmentHSBC The Hongkong and ShanghaiBanking Corporation LtdHTM Held to MaturityHUDCO Housing and UrbanDevelopment Corporation


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HUF Hindu Undivided FamilyHYVP High Yielding VarietyProgramme

ICAI Institute of CharteredAccountants of IndiaICAO International Civil AviationOrgani-sationICC Integrated Circuit CardICDP Intensive Cattle DevelopmentProgrammeICICI Industrial Credit andInvestment Corporation of India

LimitedICRA Investment Information andCredit Rating AgencyICSID International Centre forSettlement of InvestmentIDBI Industrial Development Bank ofIndiaIDFC Infrastructure DevelopmentFinance Company Limited

IDR Indian Depository ReceiptIDRBT Institute for Development andResearch in Banking TechnologyIFC International Finance CorporationIFCI Industrial Finance Corporationof India LimitedIFSC Indian Financial System CodeIPG Internet Payment GatewayIPO Initial Public OfferingISO International Standard

OrganisationIVP Indira Vikas Patra

KCC Kisan Credit CardKVP Kisan Vikas PatraKYC Know Your Customer

MBFC Mutual Benefit FinancialCompanyMODS Multi-Option Deposit Scheme

MPBF Maximum Permissible BankFinanceMRD Market Regulation DepartmentMRTP Monopolies and RestrictiveTrade PracticesMSME Micro, Small and MediumEnterprise

NDA Net Domestic Assets NDC Non-Dues Certificate NDS Negotiated Dealing System

NDTL Net Demand and TimeLiabilities

NFA Net Foreign Assets NGO Non-GovernmentalOrganisation

NHB National Housing Bank NIA Negotiable Instruments Act NII Net Interest Income NIM Net Interest Margin

NNP Net National Product NSIC National Small IndustriesCorporationBanking and Economic Abbreviations

NSS National Savings Scheme NSSO National Sample SurveyOrganisation

OBE Off-balance Sheet ExposuresOBUs Offshore Banking Units

OCB Overseas Corporate BodiesOPEC Organisation of PetroleumExporting CountriesOTC Over-The-CounterOTCEI Over-The-Counter Exchangeof India LimitedOTS One-Time Settlement


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PCA Prompt Corrective ActionPCDs Partly Convertible DebenturesPD Primary Dealer

PFIs Public Financial InstitutionsPFS Price Stabilisation FundPIN Personal Identification NumberPIO People of Indian OriginPKI Public Key InfrastructurePLIs Prime Lending InstitutionsPLP Potential Linked PlanPLR Prime Lending RatePMO Primary Market OperationsPMEGP Prime Minister’s

Employment Generation ProgrammePTCs Pass-Through Certificates

QIB Qualified Institutional BuyersQIP Qualified Institutional PlacementQIS Quantitative Impact Study

RCI Refinance Corporation forIndustryRCTC Risk Capital and TechnologyCorporationREPO Repurchase AgreementREPOS Ready Forward ContractsRFID Radio Frequency IdentificationRLS Retail Loan SchemesRMC Risk Management CommitteeRMG Risk Management GroupRML Reverse Mortgage LoanRNBCs Residuary Non-Banking

CompaniesROA Return on AssetsROC Registration of CompaniesRTGS Real Time Gross Settlement

SARFAES Ses and Reconstruction ofFmancial and Enforcement of

Security InterestSBI State Bank of IndiaSCB State Cooperative Apex Bank

SCC Selective Credit ControlSDRs Special Drawing RightsSEBI Securities and Exchange Boardof IndiaSHGs Self-Help GroupsSICA Sick Industrial Companies ActSIDBI Small Industries DevelopmentBank of IndiaSIDC State Industrial DevelopmentCorporation

SIM Subscriber Identity ModuleSJSRY Swarna Jayanti ShahariRojgar YojanaSLBC State-level Banker’sCommitteeSLR Statutory Liquidity RatioBanking and Economic AbbreviationsSME Small and Medium EnterprisesSPNS Shared Payment Network

SystemsSPOM Self-Programmable One-ChipMicrocomputerSPV Special Purpose VehicleSSIDC State Small IndustriesDevelopment CorporationSSls Small Scale IndustriesSTF Short-Term Finance


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BANKING NEWS

Repo rate- 8% Reverse Repo Rate-7%

CRR-4%

SLR-22%

Bank Rate-9%

Marginal Standing Facility (MSF)- 9%

Betting big on the government‘s reforms agenda, overseas investors have

poured in more than USD 5 billion in the Indian market so far this month

taking the total inflow to over USD 25 billion since January 2014.

The soon-to-be-turned private bank IDFC will be headed by its current

Executive Chairman Rajiv Lall. Subject to RBI approval, Rajiv Lall will be

the Managing Director and Chief Executive Officer of IDFC Bank, which is

expected to be formed by October 2015.

SBI Caps (the investment banking arm of State Bank of India) has been

asked by the Finance Ministry to undertake a study on the merger and

recapitalisation of banks

The Central Bureau of Investigation has registered a case of alleged bribery

against the Chairman & Managing Director of Syndicate Bank Sudhir

Kumar Jain.

Vidyo, Inc., a visual communications solutions provider has been selected

by IndusInd Bank, one of the fastest growing new-generation private sector banks in India for Video Branch, a mobile and desktop-based banking

service being deployed across the country.

The Reserve Bank of India has said that the proposed Bharat Bill Payment

System (BBPS) will function as a tiered structure for operating the country‘s


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bill payment system. It will have a single brand image providing

convenience of anytime anywhere‘ payment to customers.

The RBI said that it will transfer the surplus amount of Rs. 52,679 crore tothe Government. The year before, the central bank said that it had

transferred Rs. 33,010 crore to the Government.

Coca-Cola has announced it will pay $2.15 billion for a 16.7 per cent stake

in Monster Beverage, cementing a distribution-based link between the two

that had added significantly to Coke‘s profits.

Five Indian companies, including Hindustan Unilever and Tata ConsultancyServices, are among Forbes‘ list of the world‘s 100 most innovative

companies that investors think are most likely to ―generate big, new growth

ideas.

People can now deposit up to Rs 1.5 lakh annually in their Public Provident

Fund (PPF) with the government notifying changes in the popular savings

scheme. The government has issued a notification raising the limit from

annual PPF deposit limit from Rs 1 lakh to Rs 1.5 lakh in pursuance of theannouncement made by Finance Minister Arun Jaitley.

Non-Banking Financial Companies (NBFC) with asset size of Rs. 100 crore

and above have been forbidden to give more than 50 per cent of the value of

shares pledged with them (capping the loan to value ratio at 50 per cent).

This would be applicable only to loans of Rs. 5 lakh and above.This has

been done to minimise volatility in the market

The Department of Economic Affairs, Ministry of Finance is bringing out

the twentieth issue of the annual publication India‘s External Debt: A Status

Report 2013-14‘. The Report presents a detailed analysis of India‘s external

debt position at end-March 2014, based on the data released by the Reserve

Bank of India on June 30, 2014.


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The Tata Group has retained its place as the country‘s most valuable brand

at USD 21 billion, while the total worth of top-100 Indian brands now stands

at USD 92.6 billion.

The Indian Cotton Federation (ICF) organised the second All India Cotton

Conference on August 12 and 13 at The Residency in Coimbtore. The theme

of the conference is ‗Indian Cotton Scenario in the current context 2014-15‘.

The Ken-Betwa Link Project, benefiting Madhya Pradesh and Uttar Pradesh,

has been taken up for the implementation. The estimated cost of the Phase-I

and Phase-II of the Ken-Betwa Link project is Rs.9393 Crore (2008 pricelevel) and Rs.2283 Crore (2012-13 price level) respectively

Reserve Bank will issue Rs 1,000 new bank notes under the Mahatma

Gandhi Series-2005 with the rupee mark 'R' in inset.

The Ministry of Environment and Forests has given environment clearance

to Cairn India to raise crude oil production from its prolific Rajasthan block

by 50 per cent to 300,000 barrels per day.

The government will spend Rs 20,000 crore to provide mobile connectivity

in 55,000 villages, which are still untouched by wireless telephony, in the

next five years, Telecom Secretary Rakesh Garg said.

The retirement fund body also has also fixed the minimum monthly pension

for EPFO schemes at Rs. 1,000. This move will immediately benefit 28 lakh

pensioners who get less than this amount at present. Mr Jaitley in the Budgethad allocated Rs. 250 crore in the current financial year for this purpose.


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NATION

Prime Minister Narendra Modi is expected to address the United Nations

General Assembly on September 27, giving his first global speech to anaudience of nearly 200 world leaders and foreign ministers at the annualgathering of the world body‘s policymaking organ.

The board of directors of India‘s largest milk federation, the GujaratCooperative Milk Marketing Federation (GCMMF), has unanimouslyelected Jethabhai Patel, a cooperative leader from North Gujarat as the newChairman. GCMMF sells milk products under the ‗Amul‘ brand.

The Modi Government will give a decisive push to make the Ganga-

Hooghly waterway navigable for freight movement by tying up for a WorldBank loan that could be as much as $1 billion.

The Centre has urged all the states to provide 33 per cent reservation forwomen in their police forces to effectively deal with cases of sexual violenceand crime against women

Union Ministry of HRD has set up Hari Gautam Committee to review thestatus of UGC.

Shri Jogen Chowdhary to be the first artist in-residence in RashtrapatiBhavan.

According to the Andhra Pradesh Reorganisation Act, 2014, the Governmentof India has to establish the National Institute of Disaster Management

(NIDM) in the Successor State of Andhra Pradesh within a period of 10years.

India and Bhutan agree to strengthen the strategic cooperation in the field of

Agriculture & allied sectors between the two countries.

Tamil Nadu Chief Minister J Jayalalithaa has announced a series of

integrated drinking water schemes and also proposed a ‗Tamil Nadu

Innovative Initiative‘ to promote innovation in the State.


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The Ministry of Rural Development launched its flagship Shyama PrasadMukherji Rurban Mission, which is aimed at providing urban amenities inrural areas.

Prime Minister, Narendra Modi, laid the foundation stone for Leh-Kargil-Srinagar transmission system. He also dedicated the 45 MW Nimoo BazgoHydroelectric Project to the nation.

India successfully conducted trials of its indigenously developed surface-to-air ‗Akash‘ missile, which has a strike range of 25 kms, as part of a usertrial by the Air Force from the Integrated Test Range at Chandipur

The Prime Minister Shri Narendra Modi laid the foundation of a Port- BasedMulti-product Special Economic Zone (SEZ) at the prestigious Jawaharlal

Nehru Port Trust (JNPT) at Sheva, Navi Mumbai.

The Hon‘ble Prime Minister of India, Shri Narendra Modi, commissioned

INS Kolkata into the Indian Navy.

In a function at Solapur, the Prime Minister dedicated to the nation 765 kVSolapur - Raichur transmission lines, and four laning of Pune - Solapursection of NH-9.

Assuring financial independence to the poorest of the poor, Prime Minister Narendra Modi launched the ‗Pradhan Mantri Jan Dhan Yojana‘ to provide

bank accounts along with a debit card and an insurance cover of Rs 1 lakh toall.

Prime Minister Shri Narendra Modi, dedicated the 1000MW ( 2X500 MW)

stage I of Mouda Super Thermal Power Project to the nation in Mouda in Nagpur district of Maharashtra

Minister for Information and Broadcasting Prakash Javadekar opened thefirst edition of northeast film festival in the capital and said the governmentis committed to mainstream new initiatives in the region.

Ministry of Textiles announced that Ministry through DC (Handlooms) hassigned a Memorandum of Understanding (MoU) with Flipkart India Pvt.Ltd. to provide online marketing platform to handloom weavers to boost thehandloom sector, empower the weavers and boost manufacturing in the

country. India and Vietnam agreed to deepen cooperation in defence and oil sectors

among others as External Affairs Minister Sushma Swaraj reviewed theentire gamut of bilateral ties with the strategically-important country

A Credit Agreement for World Bank (IDA) assistance of US$ 107 million

for Second Mizoram State Roads Project (MSRP II) has been signed between the Government of India and the World Bank.


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APPOINTMENTS/ RESIGNATIONS

Former UN peacekeeper in Congo Sudesh Kumar, has been handed over thecommand of the inspector general's office of BSF Meghalaya Frontier.

Arvind Gupta, former Indian Foreign Service officer, was appointed asDeputy National Security Adviser (NSA).

YES Bank has appointed retired IAS officer Radha Singh as Non-ExecutiveChairperson of the board of the bank.

Justice Dr Manjula Chellur sworn in as the first woman Chief Justice ofCalcutta High Court — the oldest high court in the country.

IDFC appointed Ravi Shankar as the head of the proposed bank‘s financialinclusion and rural business initiative.

AIADMK leader M.Thnbidura unanimously elected Deputy Speaker of theLok Sabha. He is the first leader to hold the post for a second time. Earlier in1985, also has the distinction of being elevated to the post.

S.M. Swathi, General Manager of Corporation Bank, has been appointed asExecutive Director of Bharatiya Mahila Bank. She had assumed office onAugust 14.

Rajni Razdan became the new Chairperson of the Union Public ServiceCommission (UPSC). She was appointed as Chairperson of UPSC by thePresident Pranab Mukherjee in accordance with the Article 316 (1) of the

Constitution. UPA appointed Governor Sheila Dikshit resigned.

Modern-era ‗Don‘ Shah Rukh Khan has become the first Indian actor to beroped in as Ambassador of Interpol‘s initiative ‗Turn Back Crime‘

campaign, aimed at promoting greater awareness on how to prevent crime.The ‗Turn Back Crime‘ campaign is aimed at raising public awareness that

organised crime is often involved in seemingly unrelated crimes.

AWARDS

Bharatiya Mahila Bank Ltd. bagged the Core Banking System Initiative

Award for the year 2014 at the Asian Banking and Finance - Retail BankingAwards 2014.

Chandra Shekhar Ghosh, CMD of Bandhan, has received the ‗Entrepreneurof the Year‘ award from the All India Management Association (AIMA).


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Ratan Tata, Chairman Emeritus, Tata Sons Ltd, has been conferred the 18thMMA Amalgamations Business Leadership Award at a function in Chennai.

Two Indian-origin academicians have won global prizes in the field of

mathematics with one of them being awarded the Fields Medal — known asthe ‗Nobel Prize of mathematics‘. Manjul Bhargava won the Fields Medal,

while Subhash Khot won the Rolf Nevanlinna Prize, awarded by theInternational Mathematical Union, at the International Congress ofMathematicians 2014 held in Seoul

The President of India, Shri Pranab Mukherjee presented OutstandingParliamentarian Awards to Shri Arun Jaitley, Dr. Karan Singh and ShriSharad Yadav for the years 2010, 2011 and 2012 respectively at a functionorganized by the Indian Parliamentary Group.

Bharatiya Mahila Bank Ltd. bagged the Core Banking System InitiativeAward for the year 2014 at the Asian Banking and Finance - Retail BankingAwards 2014.

Chandra Shekhar Ghosh, CMD of Bandhan, has received the ‗Entrepreneur

of the Year‘ award from the All India Management Association (AIMA).

Ratan Tata, Chairman Emeritus, Tata Sons Ltd, has been conferred the 18thMMA Amalgamations Business Leadership Award at a function in Chennai.

Seven books of stories, six of poetry, one of novel, one of essays and eightwriters for their total contribution to children literature have won the Bal

Sahitya Puraskar this year. Shri Ram Vilas Paswan, Minister for Consumer Affairs, Food and Public

Distribution has announced the annual awards and commendationcertificates for the nineteenth prestigious Rajiv Gandhi National QualityAwards for the year 2012. The Best of All Award has been won by RailWheel factory (Ministry of Railways), Bangalore.

SPORTS NEWS THIS MONTH

Woman discus thrower Seema Punia, who won a silver for India at the 20thCommonwealth Games, was the flag-bearer for the country during itsclosing ceremony.

In Commonwealth Games 2014 India finished at fifth-place with 64 medals,including 15 yellow metals.

Jammu and Kashmir to host Football Federation Cup in August 2015.


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England won the 5-match Pataudi Trophy test-series played against India by3-1. England achieved the feat after defeating India in the fifth and final Testat The Oval by an innings and 244 runs.

Ravi Shastri has been appointed Director of the India cricket team for theODI series against England.

Hurdler Siddhanth Thingalaya, representing ONGC, secured his berth forthe Asian Games by equaling his own national record in the 110m hurdleson the concluding day of the Federation Cup Senior National AthleticsChampionships at Netaji Subhas National Institute of Sports, Patiala.

Atletico Madrid striker Mario Mandzukic‘s early goal secured a 1-0 winover Real Madrid and a 2-1 aggregate success to clinch the Spanish SuperCup and gain some revenge for last season‘s Champions League final defeat.

The President of India Pranab Mukherjee inaugurated the 6th Edition ofKamada Kinkar Mukherjee Rural .

In the doubles, Leander Paes continues to be India's top-ranked player atnumber 12, a loss of one position. In the women's rankings, Sania Mirzamaintained her top-five rank as she was unchanged at number 5.

Roger Federer has not won a Grand Slam title this year but the 17-timeGrand Slam champion topped Forbes magazine‘s list of the 10 top tennis

money-makers announced.

Indian women cricket captain Mithali Raj has retained the top spot in thelatest International Cricket Council (ICC) women‘s rankings for batters.

Mobile handset maker HTC Mobiles announced that it has become anofficial sponsor for Kings XI Punjab, one of the eight cricket teams of IndianPremier League (IPL).

INTERNATIONAL

US Secretary of State, John Kerry, called on Finance Minister, Arun Jaitley,at the latter's North Block office. Kerry, who arrived in India for an officialvisit, has already pressed New Delhi to drop its opposition to global trade

reforms. Prime Minister Narendra Modi sailed on a visit to the Himalayan nation.

During the two-day visit to Nepal, Modi holded talks with his counterpartSushil Koirala and meet with other political leaders.

Prime Minister Narendra Modi reached Japan amid "great expectations" that

the five-day trip will open new vistas in bilateral ties and Strategic andGlobal Partnership to a higher level.


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The U.S. House approved a lawsuit against President Barack Obama overalleged abuse of executive power.

China has inaugurated its second railway line in Tibet, built at a cost of

$2.16 billion, close to Indian border in Sikkim, enhancing mobility of itsmilitary in the remote and strategic Himalayan

An Indian-origin student, who scored a perfect five in his main subjects with100 per cent marks across the board, is being hailed as the brightest studentin Britain. Asanish Kalyanasundaram achieved the highest possible grades inmaths, physics, chemistry, biology and critical thinking as part of the fivemain subjects required at A Levels in Britain.

SOME IMPORTANT POINTS

FDI limits in India:

Defence 49%Pension 49Insurance Raised to 49%Print Media 26%Civil Aviation 49%Public Sec. Banks 20%Private Sec. Banks 74%

Multi Brand 51%Single Brand 100%Tourism 100%

India Ranking in Different Index:

Human Development Index 2014 – 135Global Environment Performance Index 2014 – 155Global Peace Index 2014 – 143Global Innovation Index 2014 – 76

World Prosperity Index 2013 – 106.Global Corruption Index 2013 – 94Global Competitiveness Index 2013 -60 for 2013

New governors appointed in India 1. Kalyan Singh – new Governor of Rajasthan


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2. Vajubhai Rudabhai Vala – new Governor of Karnataka3. Chennamaneni Vidyasagar Rao – new Governor of Maharashtra4. Mridula Sinha – new Governor of Goa

5. Ram Naik: new Governor of Uttar Pradesh. He replaces B.L. Joshi6. Balramji Dass Tandon: new Governor of Chhattisgarh.7. Keshari Nath Tripathi: new Governor of West Bengal.8. Om Prakash Kohli: new Governor of Gujarat.9. Padmanabha Balakrishna Acharya: new Governor of Nagaland.10. Kaptan Singh Solanki: new Governor Haryana. He replaces Jagannath Pahadia

New Cabinet Ministers:Rajnath Singh: Home MinsterSushma Swaraj: External Affairs & Overseas Indian Affairs

Arun Jaitley: Finance Corporate Affairs & DefenceM. Venkaiah Naidu: Urban Development Housing and Urban Poverty Alleviation& Parliamentary Affairs

Nitin Jairam Gadkari: Road Transport and Highways Shipping + RuralDevelopment, Panchayati Raj & Drinking Waterand SanitationD.V. Sadananda Gowda: RailwaysUma Bharati: Water Resources, River Development and Ganga RejuvenationDr. Najma A. Heptulla: Minority Affairs

Ramvilas Paswan: Consumer Affairs, Food and Public DistributionKalraj Mishra: Micro, Small and Medium EnterprisesManeka Gandhi: Women and Child DevelopmentAnanthkumar: Chemicals and FertilizersRavi Shankar Prasad: Communications and Information Technology & Law andJusticeAshok Gajapathi Raju: Civil AviationAnant Geete: Heavy Industries and Public EnterprisesHarsimrat Kaur Badal: Food Processing Industries

Narendra Singh Tomar: Mines & Steel Labour and EmploymentJual Oram: Tribal AffairsRadha Mohan Singh: AgricultureThaawar Chand Gehlot: Social Justice and EmpowermentSmriti Zubin Irani: Human Resource DevelopmentDr. Harsh Vardhan: Health and Family WelfareSumitra Mahajan: new Lok Sabha Speaker


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Revolutions in the field of agriculture in India: · Black Revolution – Petroleum Production· Blue Revolution – Fish Production

· Brown Revolution – Leather/nonconventional(India)/Cocoa production· Golden Fiber Revolution – Jute Production· Golden Revolution – Fruits/Overall Horticulturedevelopment/Honey Production· Green Revolution – Food grains· Grey Revolution – Fertilizer· Pink Revolution – Onion production/Pharmaceutical(India)/Prawn production· Red Revolution – Meat & Tomato Production

· Round Revolution – Potato· Silver Fiber Revolution – Cotton· Silver Revolution – Egg/Poultry Production· White Revolution (In India: Operation Flood) -Milk/Dairy production· Yellow Revolution – Oil Seeds production· Evergreen Revolution – Overall development ofAgriculture .

Pradhanmantri Jan-Dhan Yojana

1. Aim of this scheme to bring poor financially excluded people into the banking system by providing banking facilities .

2. The scheme will cover both urban and rural areas of India and all bankaccounts opened will be linked to a debit card which would be issued underthe Ru-Pay scheme.

3. Every Account Holder in this scheme can claims accident insurance cover ofup-to Rs 1 Lakh for his entire family.

4.

Scheme Authority decided to open 15 Crore bank accounts at the rate of two bank accounts per household.

5. The bank account has been active for 6 months and has been linked toaccount holders Aadhar identity , they would become eligible for anoverdraft of up to Rs 2,500.

6. Jan Dhan Yojana is to lay the foundation of a cashless economy and iscomplementary to the Digital India Scheme.


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7. Every Bank has allotted no of accounts as target.

Gold Medal Winner Commonwealth Games 2014

Sanjita Khumukchan: Women’s 48 kg weightlifting Sukhen Dey: Men’s 56 kg weightlifting Abhinav Bindra: Men’s 10 metre air rifle shooting Apurvi Chandela: Women’s 10 metre air rifle shooting Rahi Sarnobat: Women’s 25 metre pistol shooting Satish Sivalingam: Men’s 77 kg weightlifting Jitu Rai: Men’s 50 metre pistol shooting

Amit Kumar: Men’s freestyle 57 kg wrestling Vinesh Phogat: Women’s freestyle 48 kg wrestling Sushil Kumar: Men’s freestyle 74 kg wrestling Babita Kumari: Women’s freestyle 55 kg wrestlingYogeshwar Dutt: Men’s freestyle 65 kg wrestling Vikas Gowda: Men’s discus throw athletics Dipika Pallikal and Joshana Chinappa: Women’s doubles squash Parupalli Kashyap: Men’s singles badminton

Union Budget 2014-15 Highlights Income tax exemption limit raised by Rs 50,000 to Rs 2.5 lakh and for

senior citizens to Rs 3 lakh.

Exemption limit for investment in financial instruments under 80C raised toRs 1.5 lakh from Rs 1 lakh.

Investment limit in PPF raised to Rs 1.5 lakh from Rs 1 lakh.

Deduction limit on interest on loan for self-occupied house raised to Rs 2lakh from Rs 1.5 lakh.

Kisan Vikas Patra to be reintroduced, National Savings Certificate with

insurance cover to be launched. Long term capial gain tax for mutual funds doubled to 20 pc; lock-in period

increased to 3 years.

Mandatory wage ceiling of subscription to EPS (Employee PensionScheme) raised from Rs 6,500 .to Rs 15,000.

Minimum pension increased to Rs 1,000 per month.

LCD, LED TV become cheaper.


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Cigarettes, pan masala, tobacco, and aerated drinks become costlier.

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August Current Affairs