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BANK EXAM CAPSULE JUNE 2013 VOL:-2

51. A Group of Ministers (GoM) approved a Bill which seeks to set up an independent regulatory authority for the coal sector to address contentious issues such as pricing, supply and quality. The Coal Regulatory Authority Bill will be moved to the Cabinet within ten days for its approval.

52. The Organisation for Economic Co-operation and Development (OECD) scaled down India’s growth estimate to 5.3 per cent for 2013 from 5.9 per cent.

53. The government announced the launch of the first tranche of inflation-indexed bonds (IIBs) worth Rs.1,000 crore on June 4 through auctions to wean away household savings from gold by providing an alternative avenue for hedging against the price spiral for a positive real return on investment.

54. Besides probing Chennai Super Kings’ Gurunath Meiyappan, the three-member Commission appointed by the BCCI will also investigate the role of India Cements, owner of Chennai Super Kings, and Jaipur IPL Pvt. Ltd, owner of Rajasthan Royals. The members of the Commission are Justice T. Jayarama Chouta and Justice R. Balasubramanian — both former Madras High Court judges — and BCCI Secretary Sanjay Jagdale.

55. Dr. Manmohan Singh and his Thai counterpart Yingluck Shinawatra expressed the hope that the 3,200-km highway linking India, Myanmar and Thailand would be ready by 2016.

56. India and Thailand have signed an Extradition Treaty.

57. India has retained the chairmanship of the Singapore-based intergovernmental organisation, International Rubber Study Group (IRSG).

58. The European Commission said it had asked EU member states to check imports of wheat from the U.S. which may be tainted with a genetically modified strain made by agrochemicals giant Monsanto.

59. Gross domestic product (GDP) growth rate slid to 4.8 per cent in the fourth quarter (January-March) on account of dismal performance by the three major sectors — agriculture, manufacturing and mining — to end the entire 2012-13 fiscal at the decade’s lowest expansion of five per cent.

60. The Karnataka government has banned the manufacture and sale of gutka, and paan masala containing tobacco or nicotine, with immediateeffect. Karnataka will now join 25 States and five Union Territories that have already imposed the ban.

61. The fiscal deficit for 2012-13 worked out lower at 4.89 per cent of the GDP, significantly below the revised estimate of 5.2 per cent.

62. N. Srinivasan ‘stepped aside’ temporarily as president of the Board of Control for Cricket in India at an emergency working committee meeting. The former BCCI and ICC chief, Jagmohan Dalmiya, will be in charge of the Board’s ‘working group’.

63. Department of Atomic Energy and Nuclear Power Corporation of India left for France for a crucial meeting between European investors and French conglomerate Areva to gather funds for the 9900-MW Jaitapur nuclear power plant in Maharashtra.

64. Central Information Commission (CIC) has ruled that political parties come under the ambit of the Right to Information Act.

65. The Czech capital Prague was on high flood alert with businesses shut and transport coming to a halt after torrential rains left at least six people dead and forced thousands from their homes across central Europe.

66. More than 60 countries signed the landmark treaty regulating the multibillion-dollar global arms trade and the United States announced it would sign soon.

67. The Reserve Bank of India (RBI) said that it had decided to extend the validity period of the in-principle approval for setting up of the Non-Operative Financial Holding Company (NOFHC) from one year to 18 months.
68. Indian pacer S. Sreesanth and his two former Rajasthan Royals teammates are among the 26 accused who have been slapped with stringent provisions of the Maharashtra Control of Organised Crimes Act (MCOCA) in the spot-fixing case.

69. The Union Cabinet cleared a proposal to install 2,199 mobile towers in nine Left-Wing-Extremism-affected States at a cost of over Rs.3,000 crore.

70. India and Singapore have signed a new agreement to extend the use of training and exercise facilities in India by the Singapore Army for five years from August this year.

71. In a major decision taken , the Union Cabinet has approved the extension of the health insurance scheme — Rashtriya Swasthya Bima Yojana (RSBY) — to over 88.57 lakh unorganised workers including rickshaw pullers, rag pickers, mine workers and auto/taxi drivers.

72. Union Cabinet cleared the Real Estate (Regulation and Development) Bill. It will allow builders or developers to sell their projects only after they receive all statutory clearances. The Bill seeks to make it mandatory for developers to maintain a separate bank account for every project to ensure that money raised for a project is not diverted. Developers will be barred from collecting money from buyers before receiving all permits to start construction. All clearances will have to be submitted to the regulator and displayed online before construction begins. If a developer fails to comply with rules for the first time, he will attract a fine of up to 10 per cent of the project cost. A repeat offence
can land him in jail. Developers will be required to keep aside 70 per cent or less of the buyer’s funds in a separate account to ensure timely completion of projects. Buyers are entitled to full refund, with interest, in case of delay in the completion of projects.

73. The Obama administration imposed new sanctions on Iran and its nuclear programme, targeting the country’s currency rial and auto industry.

74. Two Congress Chief Ministers — Maharashtra’s Prithviraj Chavan and Karnataka’s K. Siddaramaiah — voiced their concerns over certain provisions of the anti-terror agency National Counter Terrorism Centre (NCTC) at the Chief Ministers’ conference on internal security held in New Delhi.

75. R.N. Sawani, a former police officer appointed to probe charges of spot-fixing in the IPL, submitted his report to the BCCI.

76. Tomas Brunegård is the new president of the World Association of Newspapers and News Publishers.

77. Uttarakhand Chief Minister Vijay Bahuguna urged the Centre to review the recent notification declaring the 100 km stretch from Gomukh to Uttarkashi as an eco-sensitive zone.

78. Fair trade regulator Competition Commission of India (CCI) has ordered probe into alleged cartelisation in the sugar industry for quoting prices in the tenders for supply of ethanol to oil marketing companies. The probe has been initiated against three trade associations, three oil marketing companies and 17 sugar mills.

79. Government hiked the import duty on gold to 8 per cent, up by 2 percentage points, in a bid to rein in demand.

80. Centre has decided to help all Left Wing Extremism (LWE)-affected States to raise ‘Greyhounds,’ after the Andhra Pradesh model of an elite police commando force. The States that would raise the ‘Greyhounds’ are Chhattisgarh, Jharkhand, Bihar, West Bengal, Maharashtra, Odisha, Uttar Pradesh and Madhya Pradesh.

81. The United States exempted India and eight other countries from having to adhere to its sanctions on importing oil from Iran, noting that these nations had significantly reduced their dependence on Iranian oil in the last six months.

82. Foreign retailers entering India’s multi-brand segment will not be allowed to franchise their stores, and will have to put 50 per cent of their investments in back-end infrastructure specifically for the chain they are setting up.

83. Prime Minister Manmohan Singh set in motion the development of the mega Amritsar-Delhi-Kolkata Industrial Corridor (ADKIC) project. Set on the model of the Delhi-Mumbai Industrial Corridor (DMIC), the ADKIC will boost industrial development along the Eastern Dedicated Freight Corridor (DFC) that connects Ludhiana in Punjab with Dankuni near Kolkata.

84. Human Rights Watch (HRW) has described as “chilling” the Indian government’s Central Monitoring System (CMS), tasked with monitoring all forms of communication on the phone and the Internet in the country.

85. The Union government has brought mine workers, sanitation workers, autorickshaw drivers, taxi drivers and rickshaw pullers within the ambit of the Rashtriya Swastya Bima Yojna. The scheme provides smart-card based cashless health insurance cover of Rs. 30,000 an year to below poverty line families with five members. Initially, it covered street vendors, beedi workers, domestic workers, building and other construction workers and workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme who worked more than 15 days in the previous financial year.

86. Reliance Jio Infocomm, a part of Mukesh Ambani-controlled Reliance Industries Ltd. (RIL) entered into a definitive agreement with Anil Ambani-controlled Reliance Communications Ltd (RCom) for sharing the latter’s nationwide telecom tower infrastructure. RIL and RCom said the aggregate value of this
arrangement was over Rs.12,000 crore during the lifetime of the agreement.

87. The government constituted the National Skill Development Agency (NSDA) for coordinating and harmonising the skill development efforts of the Centre and the private sector to achieve the skill targets of the XII Plan and beyond.

88. SEBI has put in place a colour coding system in Mutual fund from 1 July. The schemes will be classified into three colours, each denoting a different level of risk. Blue will signify the lowest risk; Yellow will stand for schemes that bear a moderate level of risk; brown colour will imply that the fund carries a high degree of risk.

89. Bharatiya Janata Party appointed Gujarat Chief Minister Narendra Modi as the party’s face for the 2014 general election. Mr. Modi has been appointed Chairman of the National Election Campaign Committee.
90. Government will set up multi-agency body — National Cyber Coordination Centre (NCCC) — that would carry out real-time assessment of cyber security threats and generate actionable reports/alerts for proactive actions by law enforcement agencies.

91. The Reserve Bank of India imposed a fine of Rs.5 crore on Axis Bank, Rs.4.5 crore on HDFC Bank and Rs.1 crore on ICICI Bank for having broken Know Your Customer norms and anti-money laundering guidelines. Online portal Cobrapost exposed the violations.

92. From July 1, you will be able to book your train ticket through your mobile phone at a cost of Rs. 6. IRCTC has developed a software, providing two options of using the mobile phone to book tickets. The SMS process or the menu-based USSD (Unstructured supplementary data) can be used to book tickets at the designated number 139.

93. India ranks low at 141in this year’s Global Peace Index (GPI) that measured peace in 162 countries.

94. The first project of cashless treatment for those injured in road accidents will be launched on the Delhi-Gurgaon-Jaipur national highway on July 1. Treatment will be provided for at least two days at the 51 notified hospitals. The government will bear the cost for a maximum of Rs. 30,000 per victim at Central Government Health Scheme rates.

95. President Pranab Mukherjee laid the foundation stone of ‘Nirbhaya Bhawan,’ the headquarters of the National Commission for Women, at a function organised at Vigyan Bhawan in New Delhi.

96. China launched its fifth manned space mission with three astronauts in space over 15 days. The Shenzhou-10 spacecraft blasted off from the Jiuquan Satellite Centre in northwestern Gansu province. This mission will be the longest yet for the country’s rapidly advancing space programme, and is seen as a crucial step in plans to build a space station by 2020.

97. From July 15, one of India’s oldest communication services — the telegram — will become history. Bharat Sanchar Nigam Ltd will close telegraphic service.

98. West Bengal has achieved the dubious distinction of having the highest incidence of crime against women for the second year running in 2012 according to the National Crime Records Bureau (NCRB).

99. World’s oldest person in recorded history — 116-year-old Jiroemon Kimura — died of natural causes early in his hometown in western Japan.

100. Fitch Ratings revised India’s sovereign credit outlook to ‘stable’ from ‘negative’ and affirmed the ‘BBB-’ rating assigned earlier.

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