FEBRUARY 27, 2015 COMPLETE REFERENCE TO CURRENT AFFAIRS

Sports:

  • Top squash player Dipika Pallikal and Joshna Chinnappa bows out of WSA World Series Squash event.
  • Top seeded Novak Djokovic will face defending champion Roger Federer in the final of Dubai Open.
  • AB de Villiers hits fastest ODI 150 of 64 balls in World Cup
    #Fastest fifty in One day International in 16 balls vs West Indies at Wanderers Stadium, Johannesburg on 18 January 2015.
    #Fastest hundred in One day International in 31 balls vs West Indies at Wanderers Stadium, Johannesburg on 18 January 2015.
    #Fastest hundred and fifty in One day International in 64 balls vs West Indies at Sydney Cricket Ground, Australia on 27 February 2015.
    #Fastest player to reach 7000 runs in one day Internationals.
    #He equalled the record of maximum sixes (16) in an innings in an ODI format along with Rohit Sharma and Chris Gayle against the West Indies at Wanderers Stadium, Johannesburg on 18 January 2015.

Business:

  • Economic Survey 2014-15 has presented 4D prescription to Indian Banking sector. These 4D are-De-regulation
    Differentiation
    Diversification
    Disintegration.
  • Tata Motors, struggling with mountaining losses in its domestic operations, announced Voluntary Retirement Scheme (VRS).
  • After the Indian Railways increased the freight rates on selected commodities, the economic survey report sited that the share of railways in freight traffic will come down to 25% by 2020 from 33% in 2011-12.
  • According to Economic Survey 2014-15, India ranks lower than the most BRICS nation in capacity for innovation. The Global Competitiveness report ranks India at 48 in capacity for innovation.
    Survey also cited that the Research and Development sector in the country grew 20.8% in 2012-13.
  • SEBI cancels Sahara Asset Management Company licence as Portfolio Manager from Indian securities market.
  • Aditya Birla Nuvo shut downs its urea plant in Uttar Pradesh as cost of production is beyond capacity due to current policies of Government.
  • Amitabh Bachan has raised his stake in chemical firm Fineotex chemicals to 5.58%.

National:

  • Law Minister Sadananda Gowda announced that Election Commission is working to connect voter identity cards with Aadhar.
    EC is trying to link EPIC (Electronic Privacy Information Centre) card with Aadhar.
  • Union Government is working on raising the retirement age to 65 from 60 of scientist in Council of Scientific and Industrial Research and other institutions.
  • Gujrat forest department signed a MoU with Zoological Society of London for conservation of Asiatic lion and its habitat.
  • For speeding up the constructioon of new capital of Andhra Pradesh, Singapore government appointed Gopinath Pillai as ite special envoy to AP.
  • First Indo-Nepal friendship Motor Rally 2015 flagged of in Puri (Odisha)

International:

  • The Tablet, one of the Britains oldest journal, is about to celebrate 175 years of uninterrupted publication it was founded in May 1840.
  • During the upcoming meeting of the SCO (Shanghai Cooperation Oraganisation), Russia will push for India’s full membership in the organisation. India is currently an observer in this group.
    SCO is founded in 2001, comprises Russia, China and several Central Asian republics and is seen as counter to NATO.
  • Russia is schduled to take over the BRICS chairmanship in the nest summit that will be held in Russia in July.
  • China formally backed a trilateral partnership with india and Srilanka to establish a Maritime Silk Road (MSR) and promote the rise of Eurasia. China is open to a triangular cooperative relationship involving India & Srilanka, announced by Chinese Foreign Minister Wang Yi.

Appointments and Resignations:

  • Kshatrapati Shivaji appointeed as new Chairman & Managing Director of SIDBI.

Emerging Terms and News:

  • Russia is planning fir its own space station
  • EPIC – Electronic Privacy Information Centre

FEBRUARY 26, 2015 COMPLETE REFERENCE TO CURRENT AFFAIRS

Sports:

  • Afghanistan made its first ever victory in the World Cup by defeating Scotland
  • Hammer thrower Harvender Singh Dagar has been banned for eight years due to anti doping rule violations.
  • India-Pakistan match paled on February 15 created Indian television history as 288 million viewers tuned in to watch it.

Business:

  • The freight hike announced in the Railway Budget 2015-16 is likely to drive up the prices of certain items such as cement, coal, steel and iron ore This hike will range from 2 to 10 %.
  • National Stock Exchange signed a MoU with Gujrat international Finance Tec-City (GIFT City) to establish an International exchange.
    GIFT Special Economic Zone is being developed as India’s first ever International Financial Services Centre (IFSC).
    Expected investment in this SEZ is about Rs 78,000 crore and estimated 5 lakh persons would get direct employment.
  • To meet capital expenditure, Indian Railways Will borrow Rs 17655 crore from market through its two company Indian Railways Finance Corporation and Rail Vikash Nigam Ltd. Current market borrowing is pegged at Rs 12045 crore.
  • SEBI slaps Rs 86 crore penalty on DLF for capital market rules violation.
  • RBI said that the Rs. 5000 overdraft facility under Pradhan Mantri Jan Dhan Yojna will be treated as Priority Sector Lending.

National:

  • President gave his assent for the appointment of Amitava Roy as Supreme Court judge With this appointment the strenght of judges in SC climbs to 29. The current sanctioned limit for the SC judges including CJI is 31.
  • Court extended the protection of TERI Director General RK Pachauri from arrest in the sexual harassment case till March 27.
  • BJP leader Subramaniam Swami asked CBI to file FIR against Amratya Sen in corruption case of funds misappropriation at Nalanda University.
  • Mumbai University signed MoU with Indian Railways to set up Rail Innovation and Technology Centre.
  • Ministry of Chemical and Fertilisers declared year 2015 as year of Active Pharmaceutical ingredients (API).

International:

  • British goverment has missed the target of immigration control which is capped at 100,000 by the end of current parliament The net migration stood at 298,000 for the year 2014 till September. 
  • More than 200 people have been killed in a series of avalanches triggered by a heavy snowfall around Afghanistan.
  • Russia and Cyprus have signed an agreement that would give Russian military ships access to the EU member state’s ports in Mediterranean sea.Cyprus President– Nicos Anastasiades.Russian Preisent– Valdamir Putin.
  • Jamaica decriminalised the possession of the small amount up to 57 gm of Marijuana for personal use.
  • Clemson University honoured Ratan Tata with Doctorate of Automotive Engineering.
  • Apple Inc has been fined 553 M$ for three patent infringement.
  • Worlds first 3D printed jet engine developed in Austalia by the researchers from Monash University.

Emerging Terms and News:

  • TDSAT– Telecom Dispute settlement and Appellate Tribunal Authority.
  • UAPA– Unlawful Activities Prevention Act.
  • MAT– Minimum Alternate Tax.
  • DDT– Dividened Distribution Tax.
  • REIT– Real Estate Investment Trust.
  • GAAR introduced in Budget 2012-13.
  • National Stock Exchange CEO&MD- Chitra Ramkrishan.
  • Munak Canal recently in news is in Haryana.

FEBRUARY 25, 2015 COMPLETE REFERENCE TO CURRENT AFFAIRS

Sports:

  • Third edition of Champions of Hero Hockey India League 2015 has been won by Ranchi Rays by defeating Punjab Warriors.

Business:

  • Union cabinet chaired by Prime Minister Narendra Modi gave approval for establishing the BRICS Contingent Reserve Arrangement (CRA) and New Development Bank (NDB).

    BRICS Nations at their sixth summit at Fortaleza Brazil decided to create a development bank and contingent reserve to finance infrastructure projects and other development.

  • Uttar Pradesh chief minister Akhilesh Yadav presented Rs. 3.02 lakh crore annual budget for 2015-16 which is 10.2% more than last budget.

National:

  • Madhya Pradesh governor Ram Naresh Yadav resigned after an FIR registered against him in recruitment scam.
  • After resignation of R.K. Pachauridue to sexual harassment allegations, vice chairman of Intergovernmental Panel On Cliamte Change (IPCC), Ismail Gizouli will work as acting chairman.
  • Rajya Sabha passed Constitution (Schedule Caste) Order Amendment Bill 2014, which seeks to modify the list of SC in three states- Haryana, Karnataka, Odisha and one Union Territory- Dadra & Nagar Haveli.

International:

  • Geneva summit for Human Rights & Democracy, a NGO, presented the human rights award to Iranian journalist Masih Alinejad for creating a Facebook page inviting women to post their pictures without headscarves which was against the Islam law.
  • NASA’s Curiosity rover clicked stunning selfies on the Pahrump Hills of Mars by a camera MAHLI ( Mars Hand Lens Imager) on the rovers robotic arm.
  • United Kingdom became the first country to legalize the creation of babies using DNA from three people. This law will be governed by Human Fertilization and Embryology Act 1990. It will help babies suffering from genetically disease.

Emerging Terms and News:

  • MAHLI- Mars Hand Lens Imager
  • ISPR– Inter Services Public Relation

COMPLETE REFERENCE TO MUTUAL FUNDS

Mutual Funds:

Mutual Funds are the professionally managed instrument that pools money fro the investors and invest in securities like stocks, bonds, short term money market instruments and commodities such as precious metals.Mutual funds offers an attractive way to manage savings in passive manner without paying high fees or constant attention from individuals of market. Since these funds are managed by professional fund managers hence it doesn’t requires good knowledge of traditional market and also free from complex investment decision.

Mutual Funds Set Up:

A mutual fund is set up in the form of trust that has a Sponsor, Trustees and Asset Management Companies. A trust is established by a Sponsor who is like a promoter of company and this trust is registered with SEBI as mutual fund. The Trustees of the mutual fund hold its property for the benefit of its unit holders. An Asset Management Company approved by SEBI manages the fund by making investments in various type of securities.

Operating A Mutual Fund:

A mutual fund company collects money from several investors and invest it in various options like stocks, bonds etc. This investment is managed by professionals who had good knowledge of market and tries to accomplish growth.
Investors get unit of funds according to amount they have invested. AMC is responsible for managing the investment from the various schemes operated by mutual fund.

Net Asset Value:

Mutual Funds are operated on the basis of NAV. Net Asset Value is the total asset value per unit of the fund and is calculated by the Asset management Companies at the end of every business day.

Types Of Mutual Fund:

Based on the maturity period

  • Open-ended Fund An open-ended fund is a fund that is available for subscription and can be redeemed on a continuous basis. It is available for subscription throughout the year and investors can buy and sell units at NAV related prices. These funds do not have a fixed maturity date. The key feature of an open-ended fund is liquidity.
  • Close-ended Fund A close-ended fund is a fund that has a defined maturity period, e.g. 3-6 years. These funds are open for subscription for a specified period at the time of initial launch. These funds are listed on a recognized stock exchange.
  • Interval Funds Interval funds combine the features of open-ended and close-ended funds. These funds may trade on stock exchanges and are open for sale or redemption at predetermined intervals on the prevailing NAV.

Benefits:

  • Professionally Managed
  • Diversificaton
  • Liquidity
  • Low transaction cost
  • Well regulated

Risks Involved In Mutual Fund:

Mutual funds invest in different securities like stocks or fixed income securities, depending upon the fund’s objectives. As a result, different schemes have different risks depending on the underlying portfolio. The value of an investment may decline over a period of time because of economic alterations or other events that affect the overall market. Also, the government may come up with new regulations, which may affect a particular industry or class of industries. All these factors influence the performance of Mutual Funds.
  • Risk and Reward: The diversification that mutual funds provide can help ease risk by offsetting losses from some securities with gains in other securities. On the other hand, this could limit the upside potential that is provided by holding a single security.
  • Lack of Control: Investors cannot determine the exact composition of a fund’s portfolio at any given time, nor can they directly influence which securities the fund manager buys.

Short Note On Budget

According to article 112 of the Constitution of India, President of India laid a statement at the beginning of every financial year of the estimated receipts and expenditure of the Government of India for that year before both the houses of parliament. This is known as Annual Financial Statement or Budget
The annual financial statement consist of the following details…

  1. Statements of expenditure.
  2. Ways and means to raise the revenues.
  3. An analysis of the actual receipts and expenditure of the closing year and the cause of any surplus or deficit in relation to such year.
  4. An explanation of the economic policy and spending programe of the government in the coming year.

Types of expenditure in budget

  1. Non Votable:– These are the expenditure which are described in the constitution of India and are charged upon the Consolidated Fund of India. This includes the emoluments and allowances of the President, Chairman and Deputy Chairman of Rajya Sabha, Speaker and Deputy Speaker of Lok Sabha, Judges of Supreme and High Courts, interest payments and any other expenditure as described by Constitution of India. These expenditure are not subjected to vote of parliament
  2. Votable:– Expenditure other than non-votable expenditure which are subjected to Demand for Grants to the house of people. These grants are proposed by different ministries in the house of people for the development and other related works. Member of parliament can approve these grants or can approve the grants with some reductions or can refuse these grants.

Presentation of Budget:

The Budget of our parliament consist of Railway Budget and General Budget. While the Railway Budget is presented to the lok sabha by the Ministry of Railways sometimes in third week of February every year, the General Budget is presented by Finance Minister on the last working day of February.

  • During the British Rule in India, the Railway Budget and the General Budget were presented together. It was in the year 1924 that both the budgets were separated. They were separated as the Indian Railways started turning into a Huge National Network Organization to itself so it required a separate budget, which could deal with Expenditure on Infrastructure and Coming up Fiscal Years & also on Operating Revenue, Passenger and Freight Tariffs & also Investment on Infrastructure. According to the Separation Convention on the recommendations of the Acworth Committee 1924, the Railway Budget is presented to the Parliament by the Union Minister for Railways, two days before the General Budget, usually around 26th February.

FEBRUARY 6, 2015 COMPLETE REFERENCE TO CURRENT AFFAIRS

Sports:

  1. Gymnast Dipa Karmakar bags Five individual golds

Business:

  1. Alibaba had signed a deal to buy a 25% stake in Indian mobile payments and ecommerce platform Paytm owner One97 Communications.*Paytm is India’s largest mobile commerce platform with nearly 25 million orders a month and more than 23 million mobile wallet users.
  2. Tata Communications has signed a $20 million multi-year deal with Germany-based KION Group to provide global wide area network (WAN) services to the group’s 330 sites across 30 countries.
  3. CSIR-National Chemical Laboratory (CSIR-NCL) signed a Memorandum of Understanding (MoU) with Security Printing and Minting Corporation of India Ltd (SPMCIL).The MoU is aimed at fostering collaboration on research and exchange of technical expertise in areas of material sciences and testing capabilities for bank notes, security documents and coins.

National:

  1. The Madras High Court directed the state government of Tamil Nadu to issue a circular banning beauty contests in colleges and other educational institutions of the state. *Justice T S Sivagnanam passed an interim order on a plea and said that it is not known as to how walking the ramp would benefit a student pursuing a course of engineering.
  2. Jharkhand Government  decided to provide tablets to all girls student studying in class 9, 10, 11 and 12 in government Kasturba Gandhi Balika Vidyalaya (KGBV). The Kasturba Gandhi Balika Vidyalaya scheme was introduced by the Union Government in August 2004.
  3. A summit, Towards Zero Poaching in Asia concluded in Kathmandu, Nepal on 6th February 2015. This five-day anti-poaching summit started on 2 February 2015, was hosted by the Ministry of Forests and Soil Conservation of Nepal.It was co-hosted by World Wide Fund for Nature (WWF), Global Tiger Forum (GTF), National Trust for Nature Conservation (NTNC) and South Asia Wildlife Enforcement Network (SAWEN)

International:

  1. France and Germany present a new peace plan to end conflict in Ukraine. US extends full support to this plan. French President François Hollande and German Chancellor Angela Merkel presented this plan, a day after Kiev gave its tentative support for the proposal.
  2. Sri Lanka President Maithripala Sirisenawill embark on a four-day visit to India from 15th February.  This will be Mr Sirisena’s first foreign trip after becoming President.
  3. Twitter and Google have signed a deal to make tweets searchable. The tweets will be available in Google search results which will benefit both companies.

Appointments and Resignations:

  1. MO Garg was appointed as the Director General of the Council of Scientific & Industrial Research (CSIR). Prior to his present posting, he was Director in CSIR-Indian Institute of Petroleum (IIP), Dehradun.
  2. Indian-American Ajaypal Singh Banga is appointed as the Member of the Advisory Committee for Trade Policy and Negotiations (ACTPN), a key administration position in the United States (US).*Banga is President and CEO of MasterCard since 2009 he is also the Chairman of the US-India Business Council (USIBC) representing more than 300 of the largest global companies investing in India.

Awards:

  1. Eminent Marathi litterateur Bhalchandra Nemade , whose 1963 novel Kosala (Cocoon) changed the dimensions of Marathi novel, was selected for 2014 Jnanpith Award, the highest literary honour in India, by the Jnanpith Selection Board. This is the 50th Jnanpith Award.
  2. President Pranab Mukherjee on 4 February 2015 presented Visitor’s Awards for Central Universities in the categories of Best University, Innovation and Research for the year 2015.Best University Award: University of Hyderabad for academic excellence & overall outstanding work.

FEBRUARY 5, 2015 COMPLETE REFERENCE TO CURRENT AFFAIRS

Sport:

  1. Portuguese star footballer Cristiano Ronaldo voted as Best English Premier League Player ever
  2. Olympians Ronjan Sodhi (Punjab) and Shagun Chaudhary (Rajasthan) won gold in the double trap for men and women category respectively.
  3. Andhra Pradesh men and Kerala women claim gold in the Beach Volley Ball championship.
  4. Elizabeth Susan Koshy claimed her 2nd gold medal in 50m riffle 3 position shooting.
  5. Jitu Rai won gold in 10m pistol event in men’s category.

Business:

  1. Dr. Cyrus S. Poonawalla, Chairmand and Managing Director, Serum Institute Of India has been named as EY Entrepreneur of the year 2014.While Dr. K. Radhakrishanan, former chairman of ISRO, has been hounered with EY Lifetime Achievement award.
  2. Pfizer( Drugmaker ) said it would buy Hospira for about 15 B$ to boost copycat drug business.
  3. To make banking more efficient and simpler, Bank Of Maharashtra has launched a new mobile application MahaApp for its customer.

National:

  1. Hindustan Areonotics Limited (HAL) has signed a Rs. 1090 crore contract for supplying 14 Dronier-228 air craft to the Indian Air Force.
  2. United Nation Economic and Social Commission for the Asia and The Pacific report:- India and the Millenium Development Goals- said that 8% GDP growth in India from 2004 to 2011 led to sharp decline in poverty and achieve the first MDG set for 2015 of reducing poverty by half.
    The MDGs that India has missed are universal primary school enrolment and competition, universal youth literacy by 2015, reducing child and infant mortality, women empowerment.
    Post-2015 goal of eliminating extreme poverty by 2030.
  3. France foreign minister Laurant Fabius visited India.
    India and France already have a civil nuclear deal under which the French nuclear company Areva will setup six nuclear reacter in Jaitpur. A MoU was signed in February 2009 between NPCIL and Areva for setting up 6×1650 MWe EPR ( Is the 3rd gneraation pressurized water reactor) units at Jaipur.
  4. Many ooficals from environment and climate departments attended 15th Sustainable Development Summit to set agenda for 2015 Climate Change summit in Paris.
    India along with other developing countries committed to fulfil the eight Millennium Development Goals by 31 December 2015.
  5. Kolkata has become the India’s first WI-Fi enabled metro city.
  6. GSHHDC (Gujrat State Handloom and Handicraft Development Corporation) signed a MoU with global e-commerce giant e-Bay to launch its own e-commerce portal under Garvi-Gujrat brand to reach out to a bigger customer base.
  7. The Airports Economic Regulatory Authority (AERA) has proposed a 78.4% reduction in airport charge at Indira Gandhi International Airport (Delhi).

Internatoinal:

  1. Former governor of California called Gujrat as California of India.
  2. Former Pakistan National Security Advisor Major-General Mahmud Durrani is recently in news when he met with Indian counterpart Ajit Doval and Foreign Secretary S. Jaishanka.
  3. President of Singapore Tony Tan Keng Yam will visit India from February 8 to 11. Singapore is setting up a skill development institute in Delhi and India has requested a similar institute in North East.

Appointments and Resignations:

  1. Justice MM Das appointed as the chairman of Commission of Enquiry probing Chit Fund Scam after the death of Justice Radha Krishna Patra who was heading this one man commission.

Emerging Terms and News:

  1. UNCLOS– United Nation Convention on the Law of the Sea
  2. Foreign Secretary of India S. Jaishanka
  3. EPR-
  4. DIAL– Delhi International Airport Limited- A joint venture of Airport Authority of India and GMR Group with 26% and 74% respectively
  5. A team researchers discovered two algal species Ulva paschima bast and Cladophora goensis bast with carbon capture properties of India’s off coast.