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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)
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. 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:
The S4A scheme was launched by RBI to resolve the corporate debt problem and strengthen the lenders ability to deal
with stressed assets.
Under this scheme, a companys debt is bifurcated into two parts sustainable and unsustainable based on the cash
flows of the companys project.
The sustainable debt cannot be less than 50 percent of existing debt and will have to be serviced over the same terms
as that of existing facilities.
3. The Reserve Bank of India has appointed Shri M. Rajeshwar Rao as the Executive Director.
4. 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.
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5. 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.
6. 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).
7. According to a data released by the RBI shows that India banking system reported total deposits of Rs100 lakh crore for
the first time ever in September. Demand deposits crossing R10 lakh crore and time deposits crossing the Rs 90 lakh crore
mark, the month saw the highest-ever monthly rise of Rs 5.32 lakh crore more than the total deposits in the banking
sector 20 years back.
8. 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.
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.
9. 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.
10. 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.
11. 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.
12. RBI introduces Scheme for Sustainable Structuring of Stressed Assets - The Reserve Bank of India (RBI) issued
guidelines called Scheme for Sustainable Structuring of Stressed Assets (S4A).
Key points The main aim of these guidelines is
To Strengthen the lenders ability to deal with stressed assets
Put real assets back on track of entities facing genuine difficulties by providing an avenue for reworking financial
structure.
The RBI has formulated the S4A as an optional framework for the resolution of large stressed accounts.
The S4A envisages determination of sustainable debt level of a stressed borrower and bifurcate outstanding debt into
sustainable debt and equity/quasi-equity instruments.
The sustainable debt and equity/quasi-equity instruments are expected to provide upside to the lenders when the
borrower turns around.
13. 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:
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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.
14. As per the Reserve Bank of India (RBI)s annual report 2015-16, Indias GDP growth forecast for FY 17 is 7.6 %.
15. 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.
16. RBI cancelled Certificate of Registration of four Non-Banking Financial Companies (NBFCs) - RBI cancelled their
certificates in exercise of the powers conferred on it underSection 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
17. 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.
It replaced the benchmark prime lending rate (BPLR), the interest rate which commercial banks charged their most
credit worthy customer.
18. 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.
19. 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.
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20. RBI extends deadline to exchange pre-2005 notes to June 30, 2016 - Reserve Bank extended the deadline for exchanging
pre-2005 currency notes of various denominations, including Rs 500 and Rs 1,000, by another six months to June 30, 2016
from earlier date December 31, 2015.
21. 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. Interest rates on small savings schemes have been
reduced marginally by 0.1 per cent for the OctoberDecember quarter of 2016-17, leading to lower
returns on Public Provident Fund, Kisan Vikas Patra,
Sukanya Samriddhi Account, among others.
I. Kisan Vikas Patra Saving scheme relaunched by
government of India.
Key points
Interest rate on Kisan Vikas Patra has been
brought down to 7.7 per cent from 7.8 per cent.
As a result the KVP will now mature in 112
months instead of 110 months.
KVP will be available in denominations of
Rs.1,000, Rs. 5,000, Rs. 10,000, and Rs. 50,000.
There will be no upper ceiling on investment.
Minimum lock-in period is 2 years and 6
months.
KVP can be encashed in eight equal monthly
installments after the lock-in period.
No KYC norms would be applicable at the time of
purchase of KVP, PAN details will not be required.
II. Public Provident Fund (PPF) Saving scheme
Key points
Public Provident Fund will fetch interest rate
of 8 per cent in the third quarter of the current
fiscal as against 8.1 per cent in the previous threemonths period.
An individual can open account with Rs. 100/- but
has to deposit minimum of Rs. 500/- in a
financial year and maximum Rs.1.5 lakh.
Maturity period is 15 years but the same can be
extended within one year of maturity for further 5
years and so on.
Account can be opened by cash/cheque and In
case of cheque, the date of realization of cheque in
Govt. account shall be date of opening of account.
III. Senior Citizens Savings Scheme The rate of interest for the third quarter for 5Year Senior Citizens Savings Scheme is
reduced to 8.5%.
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(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.
7. Government pegs inflation target at 4% for 5 years
Government had recently, notified 4 per cent inflation
target with a range of plus/minus 2 per cent for the
next five years under the monetary policy framework
agreement with the Reserve Bank.
Key points "In view of the powers conferred by Section 45ZA
of the RBI Act 1934, the central government, in
consultation with the RBI, hereby notifies the
inflation target beginning from the date of
publication of this notification and ending on the
March 31, 2021,".
The notification fixes inflation target at 4 per cent
with upper tolerance level of 6 per cent and lower
limit of 2 per cent.
8. NTPC, lists worlds first Indian green Masala bond
and first masala bond by a quasi-sovereign issuer
Note: - NTPC will invest the proceeds of the green
Masala bond in the renewable energy market as it
seeks to add more wind and solar power projects to its
portfolio to support the Indian governments ambition
to generate 175GW of renewable energy by 2022.
9. Assam becomes first state to ratify GST Bill - Assam
became the first state in the country to ratify the
constitution amendment bill on the Goods and
Services Tax (GST) as the assembly unanimously
passed the bill.
10. Syndicate Bank launched a transformation
program called "Project Ananya" that focuses on
improved customer service and offering latest in digital
banking services.
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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),
announced by Finance Minister ArunJaitley during the
Budget 2016-17.
27. The Department of Industrial Policy & Promotion
(DIPP) notified 100 per cent foreign direct
investment in other financial services carried out
by Non-Banking Finance companies(NBFCs) to
attract foreign capital into India
28. HDFC ERGO General Insurance Company has entered
into a tie-up with Maruti Insurance Broking Pvt Ltd
(MIBL) to offer motor insurance to buyers of Maruti
Suzuki cars.
29. YES Bank has tied up with ToneTag, a Mobile
payment solutions start-up to integrate and deploy
sound based contactless payments on its mobile wallet
YES Pay.
30. The Goods and Services Network (GSTN) signed a
Memorandum of Understanding (MoU) with Director
General of Foreign Trade (DGFT) for sharing of foreign
exchange realisation and Import Export code data.
31. Indias forex reserves rose by USD 1 billion to USD
367.14 billion.
32. Canadas British Columbia becomes first foreign
government to issue masala bonds - Canadas British
Columbia province has become the first foreign
government to issue of masala bonds, a rupeedenominated bond.
Note:
It had issued Rs 500 crore rupee denominated
overseas bonds (masala bond) on the London
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Africa which is being implemented by the
Department of Commerce.
It aims to support and catalyze the initiative of
Nigeria in realising the objectives to rebuild the
cotton and textile value chain.
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
Note: The government has notified raising the
threshold limit of PF withdrawal for deduction of
tax (TDS) from existing Rs 30,000 to Rs 50,000.
"The Finance Act, 2016 has amended section 192A
of Income Tax Act, 1961 to raise the threshold
limit of PF withdrawal from Rs 30,000 to Rs
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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.
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It is a three year bond which was issued on March
30, 2016 and will mature on March 29, 2019 with
an annual payout of 5.36 per cent.
Note: Masala Bonds are rupee-denominated
instruments sold only to offshore investors, while
Uridashi bonds are sold to Japanese household
investors.
58. DCB Bank launches first Aadhaar enabled ATM in
Bengaluru.
Note:
The "cardless and PIN less" ATM was launched by
former Chairman of the Unique Identification
Authority of India, Nandan Nilekani.
The headquarter of DCB bank located in Mumbai,
Maharashtra.
59. RBL Bank has become the first in India to open
dedicated branch for startups. The branch was
inaugurated at Koramangala, Bengaluru, by Nandan
Nilekani, noted entrepreneur and former chairman of
Unique Identification Authority of India (UIDAI).
60. 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%.
61. 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 .
62. 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
63. 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.
64. Independent investor Sunil Sabharwal has become the
first Indian-American to take charge as an Alternate
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73. Interest rates for the National Small Savings Fund
(NSSF) loan to Centre and States for FY 2016-17 has
been revised and fixed at 8.8 per cent.
74. Union Cabinet approves setting up of India Post
Payments Bank The paymemt banks will be
established at an expense of 800 crore rupees and
rolled out in the entire country in a phased manner.
The IPPB will obtain banking licence from RBI by
March 2017 and by September 2017.
75. SEBI tightens P-Notes norms to check money
laundering - Market regulator Securities and Exchange
Board of India (SEBI) on 20 May 2016 tightened the
norms for investing in Participatory Notes (P-Notes).
The norms have been tightened with a view to check
money laundering.
Note: P-Notes are typically instruments issued by
registered foreign institutional investors to overseas
investors, who wish to invest in Indian markets without
registering themselves directly in India to save on time.
But, they still need to go through a proper due diligence
process.
76. IT department launches e-nivaran platform to fast
track taxpayer grievances - The Income Tax (IT)
department launched an electronic grievance redressal
system e-nivaran to fast track taxpayer grievances and
ensure early resolution of their complaints.
Note:
The e-nivaran system, also named as Unified
Grievance Management System, seeks to
integrate all online and physical complaints
gathered by the department.
In this regard, a separate and dedicated window for
grievance redressal also launched in the Income
Tax Business Application (ITBA).
77. RBI cancelled Certificate of Registration of four
Non-Banking 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
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5. ICICI Bank opens its first branch in South Africa ICICI Bank inaugurated its first full service branch
at Sandton in Johannesburg becoming the first Indian
private sector bank to open a branch in the African
continent.
6. ICICI Bank has launched Smart Vault first of its kind
fully automated digital locker facility in India.
7. ICICI Bank has launched ICICI Bank Saral-Rural
Housing Loan Scheme for weaker sections of society.
Housing loan will be provided at the ICICI Bank Base
Rate (known as I-Base) which is currently at 9.70%.
8. ICICI Bank launched its first branch in China: India's
largest private sector bank, ICICI bank has launched its
first branch in Shanghai, China, which was inaugurated
by Prime Minister Narendra Modi.
CURRENT AFFAIRS
New Appointments/ National
1. New Chairman of Union Public Service Commission
(UPSC) Alka Sirohi. She succeeds Deepak Gupta.
2. Bindeshwar Pathak is the brand ambassador for
Swachh Rail Mission.
3. Chairman of Insolvency and Bankruptcy Board of India
MS Sahoo
4. Rajeev Rishi -Indian Banks Association Chairman
for 2016-17.
5. Bilal Nazki appointed as chairperson of J&K Human
Rights Commission.
6. Karnal Singh appointed as Director of Enforcement
Directorate.
7. S Sivakumar full-time member of 21st Law
Commission of India
8. Junaid Ahmad appointed as the World Bank Country
Director for India. He will succeed Onno Ruhl who
completed his four-year term recently.
9. New Chairman of Central Board of Direct Taxes (CBDT)
- Sushil Chandra. He will replace Rani Singh Nair.
10. New Director General (DG) of counter-terrorism force
National Security Guard (NSG) Sudhir Pratap Singh
11. R. K. Pachnanda appointed as Director General of
National Disaster Response Force (NDRF).
12. New Directors General of the Central Industrial
Security Force (CISF) OP Singh
13. New Chief Justice of Kerala High Court - Justice Mohan
M Shantanagoudar
14. New Chief Justice of Calcutta High Court - Justice G C
Gupta
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Ambassador
1.
2.
3.
4.
5.
Appointments/ International
1. 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.
2. World Bank reappoints Jim Yong Kim for second term
as President
3. Kristalina Georgieva appointed as the new CEO of IBRD
and IDA
4. Sarabjit Singh Marwah becomes Canadas first Sikh
Senator.
5. First female President of Estonia - Kersti Kaljulaid
6. Abdelilah Bekirane re-appointed Prime Minister of
Morocco
7. New President of Brazil - Michel Temer.
Note: Brazils Senate removed President Dilma
Rousseff from office for breaking budgetary laws.
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Important Committees
1. Munialappa committee - to monitor the bird flu
situation and help state governments take steps to
contain the disease.
2. K.S. Valdiya committee - The Saraswati river, so far
considered mythical, did exist, a Governmentconstituted expert committee has found.
3. GS Jha committee - to visit the Cauvery basin area and
assess the ground.
4. Hem Pande committee - to sell subsidised pulses to
ensure that there is no shortage of the item during this
festival season.
5. Mata Prasad committee - suggested an overhaul in
transmission planning to facilitate transfer of power on
economic principles.
6. Justice L Narasimha Reddy committee - to consider
the anomalies, if any, arising out of implementation of
OROP.
7. Pradeep Kumar Sinha committee - to develop the
pan-India road map for trade facilitation
8. Ratan P Watal committee - to suggest steps to
promote card payments
9. 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).
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10. Assam
Chief
Minister
Sarbananda
Sonowal
inaugurated first Model Skill Development Centre
Pradhan Mantri Kaushal Kendra at Panjabari,
Guwahati.
11. Union Government launched UDAN for Regional Air
Connectivity - Union Government unveiled the regional
air connectivity scheme UDAN (Ude Desh ka Aam
naagrik), which seeks to get more people to fly in the
smaller towns. The Civil Aviation Minister Ashok
Gajapathi Raju who launched the scheme in New Delhi
said the scheme is expected to be rolled out by
January 2017.
Note: The scheme UDAN envisages providing
connectivity to un-served and under-served airports of
the country through revival of existing air-strips and
airports. The scheme would be in operation for a
period of 10 years.
12. India, World Bank sign $650 Million agreement for
Eastern Dedicated Freight Corridor - India signed a
650-million US dollar loan agreement with the World
Bank for the Eastern Dedicated Freight Corridor-III
(EDFC-III) Project. The project will benefit industries
of Northern and Eastern India, which rely on railway
network for transportation of material inputs and
exports.
13. Union Government grants BP Plc licence to set up
petrol pumps in India - The Union Government has
formally granted a licence to BP Plc to set up 3500
petrol pumps in India. It was granted licence to market
Motor Spirit (petrol) and High Speed Diesel (diesel).
With this, BP became the 10th company to enter the
fuel retailing sector.
Note: BP plc is a British multinational oil and gas
company headquartered in London, England. It was
formerly known as British Petroleum.
14. The Cabinet Committee on Economic Affairs (CCEA),
chaired by Prime Minister Narendra Modi, has
approved the construction of a new link between
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Note:
The Bill facilitates changing of the names of
Madras High Court as Chennai High Court and
Bombay High Court as Mumbai High Court
respectively.
After the enactment of this act, the High Courts of
Bombay and Madras will named after the names
of the cities in which they were located.
79. Government launched National Green Highways
Mission (NGHM), a plantation drive around 1500 km of
National Highways. It was launched by the Union
Minister of Road Transport & Highways and Shipping
Nitin Gadkari in New Delhi.
80. The Padmaja Naidu Himalayan Zoological Park
(PNHZP) in Darjeeling, West Bengal received a male
snow leopard named Makalu from Londons Dudley
Zoological Gardens.
81. Union Cabinet approved 10,000 crore Fund of Funds
for Startups (FFS) The govt. setting up of Fund of
Funds for Startups (FFS) under Small Industries
Development Bank of India (SIDBI) for extending
support to Startups.
Note:
This 10,000 crore rupees corpus fund will be
established in line with the Start up India Action
Plan, an initiative of Department of Industrial
Policy & Promotion (DIPP) which was unveiled by
Union Government in January 2016.
The FFS will be used for the contribution of
various Alternative Investment Funds (AIF)
registered with Securities and Exchange Board of
India (SEBI) to extend funding support to Startups.
82. Aadhaar to be linked with caste, domicile
certificates - Union Government had asked all state
governments to link Aadhaar with caste and domicile
certificates to be issued to school students. It is the
first-of-its-kind initiative to be undertaken by Union
Government to issue these certificates to the students
within 60 days when they are studying in Class V or
VIII.
Note:
Aadhaar is a 12-digit number which acts as a
proof of identity and address anywhere in the
country.
It is considered as the worlds largest national
identification project.
Its objective is to collect the biometric and
demographic data of residents, store them in a
centralised database.
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International
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States News
1. Maharashtra is the first state in the country which will have a cyber police station in each district simultaneously.
2. 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.
3. 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).
4. Centre approves a grant of Rs. 515 Crores for the development of Sagar Port Project in West Bengal
5. 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.
6. 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.
7. Rajasthan has become the first state in India to adopt Central Governments Street Lighting National Programme
(SLNP) in all its urban local bodies (ULB).
8. 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.
9. Rajasthan has become the first state in the country to approve sewage and waste water policy.
10. 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
11. 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
12. Gumthala Garhu near Pehowa became the first Wifi hotspot village in Haryana circle under the bulk plan of BSNL for
the state.
13. Gujarat become the first state to distribute 2 crore LED bulbs under Unnat Jyoti by Affordable LEDs for All (UJALA)
scheme.
14. South India's first Children's Court inaugurated in Hyderabad.
15. 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.
16. Indias first Water Metro project launched in Kochi, Kerala. It is the first ever Water Metro project in the country.
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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.
5. Manamadurai-Rameswaram rail track to become first green corridor.
6. Railways launch Bharat Darshan Tourist train for pilgrims.
7. High speed Talgo trains from Spain completed trial run between Bareilly-to-Moradabad.
8. Nizamuddin-Mumbai August Kranti Rajdhani Express and Pune-Secunderabad Shatabdi Express are the two
catering-enabled trains of the Indian Railways which became the first to have optional catering facility from 9 June
2016, as announced by the Indian Railways.
9. Indias first solar train set for trial run in Jodhpur.
10. Worlds largest Single Rooftop Solar Power Plant inaugurated in Amritsar
11. Indias first semi-high speed train Gatimaan Express flagged off - Railways Minister Suresh Prabhu flagged off the
Gatimaan Express from Delhis Hazrat. Nizamuddin station to Agra. Speed of Gatimaan Express 160 km/h.
12. Shan-E-Punjab Express becomes the First Train Fitted with CCTV Surveillance Cameras
13. Union Railway Ministry to set up Rs 1 lakh crore Rashtriya Rail Sanraksha Kosh.
14. SRESHTA: Indian Railways to Set Up Special Wing for Research
15. Bajaj Power inked agreement with Indian Railways for Lalitpur- Udaipura rail section electrification project.
16. Suresh Prabhu flags off Champaran Satyagrah Express train in Bihar.
17. Antyodaya Express is the newly introduced fully unreserved, superfast train in India.
18. Humsafar is the fully air-conditioned third AC service with an optional service for meals.
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19. Tejas will be operating at speeds of 130 kmph and above, it will offer onboard services such as entertainment, local
cuisine, Wi-Fi, etc.
20. Utkrisht Double-Decker Air-conditioned Yatri (UDAY) Express - First double decker train between Chennai
Central-Trivandrum Central. Southern Railway has decided to operate a superfast double decker train between
Chennai Central and Trivandrum Central.
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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
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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
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Winner
Awarded for
Origin
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1. Peace Prize
Juan Manuel
Santos
(Colombia
President)
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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2.
3.
4.
5.
6.
7.
8.
9.
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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.
15. 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.
16. 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.
17. 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.
18. 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.
19. 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.
20. 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
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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.
21. 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.
22. 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
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.
23. 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.
24. 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.
25. 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.
26. 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
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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.
27. 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.
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.
28. 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).
29. 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.
30. 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.
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31. 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.
32. 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.
33. 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.
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.
34. 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
35. 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.
36. 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.
37. 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).
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38. 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.
39. 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.
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.
The United States topped the medal table for the fifth time in the past six Summer Olympics, winning 46 gold medals
and 121 medals overall. Great Britain and China finished in second and third respectively.
Kimia Alizadeh Zenoorin became the first Iranian woman to win an Olympic medal. She claimed the bronze in the
taekwondo event in the 57kg category.
Jamaican sprinter won gold in 4x100m relay final at the Rio Olympics. With this, Bolt obtained three sprinting gold
medals in three consecutive Olympics, and finished his Olympic career with a 100% win record in finals.
Andy Murray of Great Britain won gold in Rio 2016 Olympic Games. He defeated Argentina's Juan Martin Del Potro.
Michael Phelps won his fourth consecutive 200m individual medley Olympic title. With this, he became the first
swimmer ever to win four consecutive golds in the same event.
Mens Word Football Tournament Brazil won the gold after defeating Germany in the final.
Judoka Rafaela Silva won the womens 57kh judo gold at Rio Olympics. With this, she won the first gold for the host
country Brazil at the Olympic Games Rio 2016.
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
The Indian Olympic Association (IOA) had sent a total of 117 athletes, the nation's largest ever delegation in Summer
Olympic history.
Indian bagged a total of two medals, one silver and one bronze, in the games, and stood at the 67th place in the medal
tally.
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India had qualified one artistic gymnast into the Olympic competition for the first time since 1964. Dipa Karmakar
became the first Indian female ever to book an Olympic spot in the apparatus events and all-around event at the Olympic
Test Event. She narrowly missed out in the bronze medal, finishing 4th in the finals of the event with a score of 15.066.
Abhinav Bindra came fourth in the Men's 10m Air Rifle singles event after losing a shootoff for the top 3 to Serhiy Kulish,
who finally won the silver.
Lalita Babar - At the 2016 Summer Olympics, Indian long distance runner Lalita Babar scored a time of 9:19.76 in her
heat, qualifying to the final. With this, she became the first Indian in 32 years to enter a final in any track event. At the
final, she finished 10th with a time of 9:22.74.
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
ICC World Cup Cricket Venues:
ODI
1. England 2019
2. India 2023
Test
T20
1. England - 2017
1. India -2016
2. India 2021
2. Australia 2020
Javagal Srinath, Zaheer Khan, Bishan Singh Bedi,
1. MS Dhoni named captain of India's all time Test XI by
Mohammad Azharuddin (12th man).
cricket magazine Wisden.
2. Off-spinner Ravichandran Ashwin obecame the
Wisden Test XI: Sunil Gavaskar, Virender Sehwag,
fastest Indian and second overall to take 200 wickets,
Rahul Dravid, Sachin Tendulkar, VVS Laxman, Kapil
reaching the milestone in his 37th Test.
Dev, MS Dhoni (captain, wicketkeeper), Anil Kumble,
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Winner
West Indies
West Indies
West Indies
Runner up
England
Australia
India
Tennis
US Open Title 2016
Category
Mens Single
Womens Single
Mens Doubles
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
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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
Beijing, China. She defeated Johanna Konta 6-4, 6-2 to
grab the title.
5. St Petersburg Open Mens Singles title - German
tennis player Alexander Zverev defeated Stan
Wawrinka to win his first tour title in the St.
Petersburg Open final.
6. Toray Pan Pacific Open trophy - India's Sania Mirza
and her Czech partner Barbora Strycova lifted the
womens doubles title in the Toray Pan Pacific Open
trophy in Tokyo. In the final clash, the Indo-Czech pair
defeated the unseeded Chinese pair of Chen Liang and
Zhaoxuan Yang 6-1, 6-1.
7. Connecticut Open doubles title - Sania Mirza and
Monica Niculescu won the title. They defeated the
Football
FIFA (Football) World Cup Venue
1. Russia 2018
2. Qatar - 2022
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Hockey
1.
2.
3.
4.
1.
2.
3.
4.
5.
6.
7.
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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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2.
3.
4.
5.
6.
7.
8.
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Authorisation Act -2017. Under it, military cooperation with India will be for developing military
doctrine, threat analysis, force planning, logistical
support and intelligence collection and analysis.
17. NASA unveils X-57 Hybrid Electric Research Plane The National Aeronautics and Space Administration
(NASA) unveiled the iconic X-57 Hybrid Electric
Research Plane nicknamed as Maxwell.
18. India's first reusable space shuttle, RLV-TD
launched from Sriharikota Indian Space Research
Organisation (ISRO) successfully launched its maiden
indigenous winged Reusable Launch Vehicle (RLV)
from Sriharikota spaceport in Andhra Pradesh. It was
carried up on a solid rocket motor (SRM). The nine-ton
SRM was designed to burn slowly to accommodate the
vertical lifting of winged body.
19. NATO launches biggest ever Joint Military Exercise
Anaconda-16 in Poland The North Atlantic Treaty
Organization (NATO) members and partners on 6 June
2016 launchedAnaconda-16 Exercise, the biggest
ever joint military exercise in Poland.
20. The USA launched the Phase 2 of the European Phased
Adaptive Approach (EPAA) missile defence system in
Romania. As part of this, a new ground-based missile
defense system will be set up at the US naval support
facility in Deveselu, Romania.
21. NASAs Juno spacecraft has successfully entered into
the orbit of Jupiter and started orbiting solar systems
most massive planet. The spacecraft was launched by
NASA as part of its New Frontiers program in 2011 to
study Jupiters composition, gravity field, magnetic
field, and polar magnetosphere.
22. The US Researchers at the Harvard-Smithsonian
Centre for Astrophysics have discovered a rare
triple-star system with a gas giant planet that is similar
in size to Jupiter.
23. Googles next operating system is Android N
24. China inducted its largest indigenously-built
transport aircraft named as Y-20, marking a crucial
step in its Air Force history for improving its strategic
power projection capability.
25. China to launch First Hack Proof Quantum
Communication Satellite
_______________________________
Best wishes for your exams!
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