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Narendra Modi's Ireland, US Visit

Bankers Guru

Prime Minister Narendra Modi paid a historic visit to Ireland, after 59 years of the previous visit by an Indian PM, Jawaharlal Nehru in 1956. The visit was the first leg of his six day tour to Ireland and USA from 23-29 September 2015.

Prime Minister Narendra Modi sought Ireland’s support for India’s membership of UN Security Council and international export control regimes including NSG during wide ranging talks with his Irish counterpart which also covered global challenges like terror and radicalisation. During his nearly five-hour stopover en-route to the US, Modi, who is the first Indian Prime Minister to visit Ireland in 59 years, held talks with his Irish counterpart Enda Kenny after which he hoped that Ireland’s visa policy will be sensitive to the requirements of India’s IT firms.

The Prime Minister Narendra Modi also sought Ireland’s support for the reforms of the UNSC within a fixed time frame – in particular, for successful conclusion of inter-governmental negotiations in the 70th year of the United Nations.

India and Ireland are among the fastest growing economies of Asia and Europe. 

On September 23, he flew to New York, where he addressed a UN Sustainable Development Summit and participate in a Summit on peacekeeping hosted by US President Barack Obama. 

The Prime Minister also met several world leaders and have interactions with leading investors and financial sector firms. There was a working dinner where major Fortune-500 companies were present to deliberate on investment opportunities in India. He also traveled to West Coast where he visited Facebook Headquarters for a Townhall Q&A with its CEO Mark Zuckerberg. 

He also visited Google campus and Tesla Motors. In San Jose, he interacted with the Indian community on September 27. 

On the last day of his visit, Modi met leaders of the three permanent members of the UN Security Council — US President Barack Obama, British Prime Minister David Cameron and French President Francois Hollande. 

India, US Sign 7 MoUs For Start-up Boost 

Aimed at giving a big boost to startups in India, as many as seven MoUs have been signed between various organisations of India and the US.

The MoUs were signed as Prime Minister Narendra Modi attended the India-US Start-up Konnect 2015.

  • The first MoU between Centre for Cellular and Molecular Platforms and the California Institute for Quantitative Biosciences is to develop Indo-US Life Science Sister Innovation Hub so as to enhance science-based entrepreneurship, research, academia and businesses by leveraging each other's ecosystems.
  • Department of Biotechnology and Prakash Lab, Stanford University signed another MoU on Foldscope -- a frugal science innovation that has emerged from a lab of an Indian with majority of Indians working in this laboratory. The lab will work with DBT to further develop and deploy the products they develop.
  •  National Association of Software and Service Companies (NASSCOM) and the Indus Entrepreneurs signed a MoU to collaborate in a mutually satisfactory form and manner to support the creation of a vibrant ecosystem to foster technology entrepreneurship in India and Silicon Valley.
  • IIM Ahmedabad's Centre for Innovation and Entrepreneurship (CIIE) and Lester Centre for Entrepreneurship of the Haas Business School of the University of California, signed an MoU to collaborate on mutual incubation, and support each other's activities of mutual interest.
  • CIIE also signed an MoU with Los Angeles Cleantech Incubator to extend NGIN Membership benefits to CIIE. The CIIE /LACI NGIN Landing Pad Programme is a reciprocal initiative that enables entrepreneurs and innovators in the cleantech space to gain access to the California and Indian markets. The programme will assist early and growth stage cleantech companies with market expansion through partnerships and funding opportunities in California and India.
  • IIM Ahmedabad's CIIE signed an MoU with Tata Trust for founding partner for the Bharat Fund, which will provide seed funding to Indian entrepreneurs
  • CIIE also signed an MoU with Google to support technology and impact entrepreneurs through strategic support.

West Bengal Venue / Session /Time Changed for CWE-PO/MT-V Prelims Exams

Bankers Guru
According to our most of the students, Due to unavoidable circumstances (Municipal General Elections in West Bengal), venue / session /time of Preliminary Online Examination has been changed. The revised call letter giving the date, time and venue address is available on the IBPS website No hard copy of the call letter will be sent by the IBPS by post.

Student please download your REVISED Preliminary Online Examination call letter and Information Handout from the IBPS website entering your Registration Number and Password/Date of Birth.

इलाहाबाद बैंक में नौकरी के लिए हो जाए तैयार, निकलेंगी 1100 नौकरियां

Bankers Guru
इलाहाबाद बैंक ने चालू वित्त वर्ष में 1100 कर्मचारियों की भर्ती करेगी। इस बात की पुष्टि करते हुए बैंक के अध्यक्ष एवं प्रबंध निदेशक राकेश सेठी ने वार्षिक आम बैठक में शेयरधारकों से बताया कि इसमें से 600 अधिकारी वर्ग में 500 नौकरियां लिपिक वर्ग में  की जाएगी। 

उन्होंने बताया कि चालू वित्त वर्ष में उन्होंने सरकार से 1100 करोड़ रुपये पूंजी निवेश का आग्रह किया गया है। 


Combined Graduate Level (Tier-I) Examination, 2015 Result Declared

Bankers Guru
Staff Selection Commission has declare the result of Combined Graduate Level (Tier-I) Examination, 2015. 

Combined Graduate Level (Tier-I) Examination, 2015 was held on 9.8.2015 and 16.8.2015 & Re-exam on 30.8.2015. A total of 1786047 candidates appeared in this examination.

The Combined Graduate Level (Tier-II) Examination 2015 paper-I, II is scheduled to be held on 25.10.2015 and paper-III scheduled to be held on 26.10.2015 respectively.

Fourth Bi-monthly Monetary Policy Statement For 2015-16

Bankers Guru

Monetary and Liquidity Measures

On the basis of an assessment of the current and evolving macroeconomic situation, RBI has been decided to:

• reduce the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points from 7.25 per cent to 6.75 per cent with immediate effect;

• keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liability (NDTL);

• continue to provide liquidity under overnight repos at 0.25 per cent of bankwise NDTL at the LAF repo rate and liquidity under 14-day term repos as well as longer term repos of up to 0.75 per cent of NDTL of the banking system through auctions; and

• continue with daily variable rate repos and reverse repos to smooth liquidity. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 7.75 per cent.


2. Since the third bi-monthly statement of August 2015, global growth has moderated, especially in emerging market economies (EMEs), global trade has deteriorated further and downside risks to growth have increased. In the United States, industrial production slowed as capital spending in the energy sector was cut back and exports contracted, weighed down by the strength of the US dollar. Consumer spending stayed buoyant, however, amidst steadily improving labour market conditions. In the Euro area, a fragile recovery strengthened, supported by domestic consumption, less slack in the labour market and improving financial conditions engendered by ultra-accommodative monetary policy. Economic activity in Japan, however, is faltering under the weight of weak private consumption and exports, with both business and consumer confidence subdued. EMEs are caught in a vortex of slowing global trade volumes, depressed commodity prices, weakening currencies and capital outflows, which is accentuating country-specific domestic 2 constraints. China’s intended rebalancing from investment towards consumption is being hit by the stock market meltdown, slower industrial production and weaker exports. The devaluation of the renminbi on August 11, while mild, has unsettled financial markets across the world. Brazil and Russia are grappling with recession and runaway inflation, while South Africa is facing tightening structural constraints which threaten to tip it into a downturn.

3. Since the Chinese devaluation, equity prices, commodities and currencies have fallen sharply. Capital flight from EMEs into mature bond markets has pushed down developed market yields, and risk spreads across asset classes have widened. Although volatility ebbed in early September and capital flows returned cautiously to some EMEs, sentiment in financial markets remains fragile. The September 17 decision of the Federal Open Market Committee to stay on hold in response to global conditions and weak domestic inflation lifted financial markets briefly, but overall financial conditions are yet to stabilise.

4. In India, a tentative economic recovery is underway, but is still far from robust. In agriculture, sown area has expanded modestly from a year ago, reflecting the timely and robust onset of the monsoon in June, but the southwest monsoon is currently deficient by 14 per cent – with production-weighted rainfall deficiency at 20 per cent. Nevertheless, the first advance estimates indicate that food grain production is expected to be higher than last year, reflecting actions taken to contain the adverse effects of rain deficiency through timely advisories and regular monitoring of seed and fertiliser availability. Allied farm activities, which are more insulated from the monsoon, remain resilient and could partly offset the effects of adverse weather on crop production. Rural demand, however, remains subdued as reflected in still shrinking tractor and two-wheeler sales.

5. Manufacturing has exhibited uneven growth in April-July, with industrial activity slowing sequentially in July, although it has been in expansionary mode for the ninth month in succession. Industries such as apparel, furniture and motor vehicles have experienced acceleration. Furthermore, the resumption of growth in production of consumer durables in recent months, after a protracted period of contraction over the last two years, is indicative of some pick-up in consumption demand, primarily in urban areas. Since our last review, however, external demand conditions have turned weaker, suggesting a more persistent drag from lower exports and cheaper imports due to global overcapacity. This contributes to continuing domestic capacity underutilisation, decelerating new orders and a rising ratio of finished goods inventories to sales.

6. As a result of still tepid aggregate demand, output price growth is weak, but input material costs have fallen further, leading to an increase in margins for most producers. Weak aggregate demand appears to have more than offset the effect of higher margins to hold back new investment intentions. The expansion in capital goods production, therefore, likely relates more to the revival of stalled projects than to a build-up of the green field pipeline. Survey-based business sentiment has been falling in recent quarters. The manufacturing purchasing managers’ index (PMI) nevertheless remained in expansion territory in August, although it slowed from July due to weak domestic and export order books.

7. In the services sector, construction activity is weakening as reflected in low demand for cement and the large inventory of unsold residential houses in some localities. Rising public expenditure on roads, ports and eventually railways could, however, provide some boost to construction going forward. Lead indicators relating 3 to freight and passenger traffic are mixed. In August, the services PMI remained in expansion for the second consecutive month on improving new business, but business expectations remain subdued.

8. Headline consumer price index (CPI) inflation reached its lowest level in August since November 2014. The ebbing of inflation in the year so far is due to a combination of low month-on-month increases in prices and favourable base effects. Overall year-on-year food inflation dropped sharply, led by vegetables and sugar. Cereal inflation moderated steadily during April-August, but price pressures in respect of pulses and onions remained elevated. 

9. CPI inflation excluding food and fuel eased in August for the second consecutive month, primarily due to the decline in petrol and diesel prices pulling down inflation in transportation. Fares other than for air transport have, however, remained inflexible downwards. Inflation in house rentals increased, but was more than offset by some moderation in the heterogeneous category of services, including education, personal care and effects, and health. Inflation expectations of households remained elevated in double digits likely in response to recent month-on-month increases in the prices of vegetables and pulses. Professional forecasters’ inflation expectations eased as credibility built around the January 2016 inflation target. Rural wage growth remains subdued and corporate staff costs decelerated. 

10. Liquidity conditions eased considerably during August to mid-September. In addition to structural factors such as deposit mobilisation in excess of credit flow, lower currency demand and pick-up in spending by the government contributed to the surplus liquidity. In response, the Reserve Bank conducted variable rate reverse repos of overnight and longer tenors ranging from 2 to 20 days. As a result, the average net daily liquidity absorption by the Reserve Bank increased from `120 billion in July to `261 billion in August and further to `544 billion in September (up to September 15). Money market rates generally remained below the repo rate. As quarterly tax collections went out of the system from mid-September, deficit conditions returned and the Reserve Bank engaged in average net injections of the order of `544 billion (September 16 to 27), keeping the call money rate close to the repo rate. Some forms of bank credit such as personal loans grew strongly as did non-bank financing flows through commercial paper, public equity issues and housing finance. 

11. With the weakening of growth prospects in EMEs and world trade volume growth falling below world GDP growth, India’s merchandise exports continued to decline in the first two months of Q2. Imports values also declined, but the sharp fall in international crude oil and gold prices was offset by rising import volumes. Non-oil non-gold imports went back into contraction after recording a marginal pick-up in the previous quarter, although there were higher imports of fertilisers, electronics and pulses. With services exports moderating, the widening of the merchandise trade deficit could lead to a modest increase in the current account deficit (CAD) during Q2. Net capital inflows were buoyed by sustained foreign direct investment and accretion to non-resident deposits, and reduced by portfolio outflows, mainly from equity markets. Foreign exchange reserves rose by US $ 10.4 billion during the first half of 2015-16.

Policy Stance and Rationale 

12. In the bi-monthly policy statement of August, the Reserve Bank indicated that further monetary policy accommodation will be conditioned by the abating of recent inflationary pressures, the full monsoon outturn, possible Federal Reserve actions and greater transmission of its front-loaded past actions. Since then, inflation has dropped to a nine-month low, as projected. Despite the monsoon deficiency and its uneven spatial and temporal distribution, food inflation pressures have been contained by resolute actions by the government to manage supply. The disinflation has been broad-based and inflation excluding food and fuel has also come off its recent peak in June. The Federal Reserve has postponed policy normalisation. Markets have transmitted the Reserve Bank’s past policy actions via commercial paper and corporate bonds, but banks have done so only to a limited extent. The median base lending rates of banks have fallen by only about 30 basis points despite extremely easy liquidity conditions. This is a fraction of the 75 basis points of the policy rate reduction during January-June, even after a passage of eight months since the first rate action by the Reserve Bank. Bank deposit rates have, however, been reduced significantly, suggesting that further transmission is possible. 

13. Looking forward, inflation is likely to go up from September for a few months as favourable base effects reverse. The outlook for food inflation could improve if the increase in sown area translates into higher production. Moderate increases in minimum support prices should keep cereal inflation muted, while subdued international food price inflation should continue to put downward pressure on the prices of sugar and edible oil, and food inflation more generally. It is important that pro-active supply-side management by the government be in place to head off any food price pressures should they materialise, especially in respect of onion and pulses. The pass-through of the recent depreciation of the rupee will have to be carefully monitored, although benign crude prices should have an offsetting effect. Taking all this into consideration, inflation is expected to reach 5.8 per cent in January 2016, a shade lower than the August projection (Chart 1).

14. The modest pick-up in the growth momentum in the first half of 2015-16 benefited from soft commodity prices, disinflation, comfortable liquidity conditions, some de-clogging of stalled projects, and higher capital expenditure by the central government. Underlying economic activity, however, remains weak on account of the sustained decline in exports, rainfall deficiency and weaker than expected momentum in industrial production and investment activity. With global growth and trade slower than initial expectations, a continuing lack of appetite for new investment in the private sector, the constraint imposed by stressed assets on bank lending and waning business confidence, output growth projected for 2015-16 is marked down slightly to 7.4 per cent from 7.6 per cent earlier (Chart 2). Concurrent indicators also suggest that the new GDP series shows higher growth than would the old series, which necessitates recalibrating old measures of potential output and the output gap to the new series.

15. Since our last review, the bulk of our conditions for further accommodation have been met. The January 2016 target of 6 per cent inflation is likely to be achieved. In the monetary policy statement of April 2015, the Reserve Bank said that it would strive to reach the mid-point of the inflation band by the end of fiscal 2017- 18. Therefore, the focus should now shift to bringing inflation to around 5 per cent by the end of fiscal 2016-17. In this context, the weakening of global activity since our last review suggests that commodity prices will remain contained for a while. Still-low industrial capacity utilisation indicates more domestic demand is needed to substitute for weakening global demand in order that the domestic investment cycle picks up. The coming Pay Commission Report could add substantial fiscal stimulus to domestic demand, but the government has reaffirmed its desire to respect its fiscal targets and improve the quality of its spending. Under these circumstances, monetary policy has to be accommodative to the extent possible, given its inflation goals, while recognizing that continuing policy implementation, structural reforms and corporate actions leading to higher productivity will be the primary impetus for sustainable growth. Furthermore, investment is likely to respond more strongly if there is more certainty about the extent of monetary stimulus in the pipeline, even if transmission is slow. Therefore, the Reserve Bank has front-loaded policy action by a reduction in the policy rate by 50 basis points. Given our year-ahead projections of inflation, this ensures one year expected Treasury bill real interest rates of about 1.5-2.0 per cent, which are appropriate for this stage of the recovery.

16. While the Reserve Bank’s stance will continue to be accommodative, the focus of monetary action for the near term will shift to working with the Government to ensure that impediments to banks passing on the bulk of the cumulative 125 basis points cut in the policy rate are removed. The Reserve Bank will continue to be vigilant for signs that monetary policy adjustments are needed to keep the economy on the target disinflationary path. 

17. The fifth bi-monthly monetary policy statement will be announced on December 1, 2015.

Part B: Developmental and Regulatory Policies 

18. This part of the Statement reviews the Reserve Bank’s measures to strengthen the monetary policy framework, make banking structure and practices more efficient, broaden and deepen financial markets, deal with stress in corporate and financial assets, and extend the reach of financial services to all.

I. Monetary Policy Framework 

19. Discussions on monetary policy and its institutional and operating framework are set out in Part A of this Statement and the Monetary Policy Report issued along with this Statement. 

II. Banking Structure 

20. The Reserve Bank has put out for comment draft guidelines for banks on the computation of base rate, based on their marginal cost of funds. Guidelines will be issued by end-November 2015. 

21. In March 2015, the Reserve Bank issued a Discussion Paper titled “Large Exposures Framework and Enhancing Credit Supply through Market Mechanism” for stakeholders’ comments. The Discussion Paper focused on the need to encourage alternative sources of funding to bank credit for the corporate sector to finance growth. This would also de-risk the balance sheets of banks. Specifically, the paper proposed ways to encourage large corporates with borrowings from the banking system above a cut-off level to tap the market for their working capital and term loan needs. Based on suggestions received from stakeholders, the Reserve Bank will issue a draft circular by end-December 2015. 

22. As a part of its supervisory process, the Reserve Bank assesses compliance by banks with extant prudential norms on income recognition, asset classification and provisioning (IRACP). There have been divergences between banks and the supervisor as regards asset classification and provisioning. In order to bring in greater transparency, better discipline with respect to compliance with IRACP norms as well as to involve other stakeholders, the Reserve Bank will mandate disclosures in the notes to accounts to the financial statements of banks where such divergences exceed a specified threshold. Instructions in this regard are being issued separately. 23. The Union Budget for 2014-15 emphasised the urgent need for convergence of the current Indian accounting standards (IND AS) with International Financial Reporting Standards (IFRS). The Reserve Bank has recommended to the Ministry of Corporate Affairs a roadmap for the implementation of IND AS by banks and nonbanking financial companies from 2018-19 onwards. The Reserve Bank constituted a Working Group (Chairman: Shri Sudarshan Sen) for its implementation. The Report of the Working Group will be placed on the Reserve Bank’s website by end-October 2015 for public comments. 

24. At present, the minimum risk weight applicable on individual housing loans is 50 per cent. With a view to improving “affordability of low cost housing” for economically weaker sections and low income groups and giving a fillip to “Housing for All”, while being cognisant of prudential concerns, it is proposed to reduce the risk weights applicable to lower value but well collateralised individual housing loans. Detailed guidelines are being issued separately. 

25. Banks are permitted to hold investments under the HTM category in excess of the limit of 25 per cent of their total investments, provided the excess comprises only SLR securities and the total SLR securities held under the HTM category are not more than 22 per cent of NDTL. The SLR has been reduced to 21.50 per cent of NDTL with effect from February 7, 2015. To align them, it has been decided to bring down the ceiling on SLR securities under HTM from 22 per cent to 21.50 per cent with effect from the fortnight beginning January 9, 2016. Thereafter, both the SLR and the HTM ceiling will be brought down by 0.25 per cent every quarter till March 31, 2017. 

26. The Depositor Education and Awareness Fund Scheme, 2014 has been established by transfer of bank deposits and other credit balances that have remained unclaimed for more than 10 years. It envisages grant of financial assistance to applicants selected on the basis of proposals intended to promote depositors’ interests. In response to the press release issued on January 9, 2015, the Reserve Bank received 90 applications for financial assistance. The names of successful applicants will be announced by October 1, 2015. The window for inviting applications for availing financial assistance from the fund shall be re-opened. 

27. The report of the High Powered Committee (HPC) on UCBs (Chairman: Shri R. Gandhi) to examine and recommend permissible business lines, appropriate size, conversion of UCBs into commercial banks and licensing of new UCBs was placed on the Reserve Bank’s website on August 20, 2015 for comments and suggestions. Based on the feedback received, the recommendations of the Committee will be considered for implementation during the second half of 2015-16. 

28. Cyber security has assumed critical importance across the globe. With the widespread use of new technologies, inter-connectedness and dependency, newer risks, threats and vulnerabilities have emerged. The Reserve Bank is setting up an information technology (IT) subsidiary to assist in monitoring the preparedness of banks and identifying systemic vulnerabilities along with aiding the Reserve Bank in its own cyber initiatives. 

29. The Reserve Bank will update all its master regulations, and streamline the required procedure for compliance with the regulations by January 1, 2016. All master regulations will be fully updated and placed online. The Reserve Bank will also work to improve clarity in regulatory communications. 

III. Financial Markets 

30. With the objective of having a more predictable regime for investment by the foreign portfolio investors (FPI), the medium term framework (MTF) for FPI limits in debt securities, worked out in consultation with the government, is set out below. 

(i) The limits for FPI investment in debt securities will henceforth be announced/ fixed in rupee terms.

(ii) The limits for FPI investment in the central government securities will be increased in phases to 5 per cent of the outstanding stock by March 2018. In aggregate terms, this is expected to open up room for additional investment of `1,200 billion in the limit for central government securities by March 2018 over and above the existing limit of `1,535 billion for all government securities (G-sec). 

(iii) Additionally, there will be a separate limit for investment by FPIs in the State Development Loans (SDLs), to be increased in phases to reach 2 per cent of the outstanding stock by March 2018. This would amount to an additional limit of about `500 billion by March 2018. 

(iv) The increase in limits will be announced every half year in March and September and released every quarter. 

(v) The existing requirement of investments being made in G-sec (including SDLs) with a minimum residual maturity of three years will continue to apply. 

(vi) Limits for the residual period of the current financial year would be increased in two tranches from October 12, 2015 and January 1, 2016. Each tranche would entail an increase in limits as under: 

• Rs 130 billion for central government securities composed of Rs 75 billion for long term investors and Rs 55 billion for others 

• Rs 35 billion for SDL open to all FPI investors. A circular with details of the MTF is being issued separately.

31. In the first bi-monthly monetary policy statement for 2015-16, announced on April 07, 2015, it was proposed to permit Indian corporates that are eligible to raise external commercial borrowings (ECB) to issue rupee bonds in overseas centres with an appropriate regulatory framework. Based on the comments received on the draft framework and in consultation with the Government, it has been decided to permit Indian corporates to issue rupee denominated bonds with a minimum maturity of five years at overseas locations within the ceiling of foreign investment permitted in corporate debt (US$ 51 billion at present). There shall be no restriction on the end use of funds except a small negative list. Detailed instructions are being issued separately. 

32. The Reserve Bank has placed the draft framework on ECB on its website on September 23, 2015 for comments/ feedback. The revised framework suiting the current economic and business environment will replace the extant ECB policy. 

33. Scheduled commercial banks and primary dealers (PDs) are currently permitted to execute the sale leg of short sale transactions in the over the counter (OTC) market in addition to the Negotiated Dealing System–Order Matching (NDSOM) platform. Short sale in the OTC market is, however, not permitted between the primary member (PM) and its gilt account holder (GAH). The Clearing Corporation of India Ltd. (CClL) has introduced a facility in the reported segment of NDS-OM which captures details of transactions involving gilt accounts. Accordingly, it is proposed to permit short sale by a PM to its GAH and also to treat purchase by a PM from its GAH as a cover transaction. Guidelines in this regard will be issued by end-October 2015. 

34. There has been significant improvement in market infrastructure in the interbank repo market in G-sec. This enables Reserve Bank to review restrictions placed on repo transactions, particularly relating to the participation of gilt account holders in the repo market, guided by the recommendations of the Working Group on Enhancing Liquidity in the Government Securities and Interest Rate Derivatives Markets (Chairman: Shri R. Gandhi). New guidelines in this regard will be issued by end- November 2015. 

35. When Issued (WI) trading in G-sec was permitted in 2006 to facilitate the distribution process by stretching the actual distribution period for each issue and allowing the market more time to absorb large issues without disruption. In order to encourage trading in the WI market, it is proposed to:

(i) permit the scheduled commercial banks to take short positions in the WI market for both new and reissued securities, subject to limits and other conditions in place from time to time; and 

(ii) permit regulated entities other than banks and primary dealers (PDs) to take long positions in the WI market. 

Detailed guidelines in this regard will be issued by end-November 2015. 

36. Guidelines on repo in corporate debt were issued in January 2010. In order to further develop the repo market, a broad framework for introduction of electronic dealing platform/s for repo in corporate bonds will be designed in consultation with the Securities and Exchange Board of India (SEBI). 

37. While the currency futures market has grown, participation in this segment has been restricted to a few categories of entities. In order to diversify the participation profile in the currency futures market, stand-alone PDs will be permitted to deal in currency futures contracts traded on the recognised exchanges, subject to adherence to certain risk control measures and without diluting their existing obligations in the Gsec market. Guidelines in this regard will be issued by end-November 2015.

38. At present, exchange traded currency derivatives include futures and options in four currency pairs viz., USD-INR, EUR-INR, GBP-INR and JPY-INR. With a view to enabling direct hedging of exposures in foreign currencies and to permit execution of cross-currency strategies by market participants, exchange traded currency futures and options will be introduced in three cross-currency pairs viz., EUR-USD, GBPUSD and USD-JPY. Necessary guidelines will be issued in consultation with SEBI by end-November 2015. 

39. Establishing underlying exposure through verifiable documentary evidence has been a key regulatory requirement for accessing OTC forex markets. To provide more flexibility to market participants in managing their currency risk in the OTC market and for making hedging easier, it has been decided to increase the limit for resident entities for hedging their foreign exchange exposure in the OTC market from US$ 250,000 to US$ one million without the production of any underlying documents, subject to submission of a simple declaration. It is further proposed to comprehensively review the documentation related requirements in the OTC market. The possibility of participation by financially sophisticated investors up to certain limits in currency markets without underlying exposure will also be examined. Revised draft of the existing framework will be issued for public comments by end December 2015. 

IV. Currency Management 

40. With growing financial inclusion, there are concerted efforts to enhance the use of technology and move towards a “less-cash” society. In order to promote electronic payments and use of cards for transactions, the Reserve Bank will put in the public domain a concept paper for proliferation of card acceptance infrastructure in the country, especially in the tier III to tier VI centres, by end-November 2015. 

41. The Reserve Bank has issued Rs 100, Rs 500 and Rs 1000 denomination banknotes in the Mahatma Gandhi Series–2005 with a new numbering pattern with ascending order of the size of the numbers from left to right. This is being introduced in a phased manner for all denominations of banknotes. 

42. With a view to making identification of banknotes easier for visually challenged persons, the process for introduction of additional identification marks in banknotes in the form of angular bleed lines has been initiated and is being introduced in the denominations of Rs 100, Rs 500 and Rs 1000 as raised lines on both the left and right sides of the obverse of the banknote: 4 lines in ` 100, 5 lines in Rs 500 and 6 lines in Rs 1000. Furthermore, the size of the existing identification mark in these denominations is also being increased by 50 per cent to facilitate better identification. 

G-4 Summit

Bankers Guru
Prime Minister Narendra Modi hosted the G4 summit in New York on September 26, 2015. The meet was attended by German Chancellor Angela Merkel, Japanese PM Shinzo Abe and Brazilian President Dilma Rousseff.

On 26 September 2015, H.E. Mr. Narendra Modi, Prime Minister of India, invited H.E. Ms. Dilma Rousseff, President of Brazil, H.E. Ms. Angela Merkel, Chancellor of Germany and H.E. Mr. Shinzo Abe, Prime Minister of Japan, for a G-4 meeting in New York.

The G-4 leaders stressed that a more representative, legitimate and effective Security Council is needed more than ever to address the global conflicts and crises, which had spiraled in recent years. They shared the view that this can be achieved by reflecting the realities of the international community in the 21st century, where more Member States have the capacity and willingness to take on major responsibilities with regard to maintenance of international peace and security.

In this context, the leaders noted with concern that no substantial progress had been made since the 2005 World Summit where all the Heads of State and Government had unanimously supported the "early reform" of the Security Council as an essential element of the overall effort to reform the United Nations. They strongly emphasized that the process underway in the UN to bring about the reform of the Security Council should be conducted, given its urgency, in a fixed time frame.

The leaders paid tribute to the dynamic leadership of the President of the 69th General Assembly and the efforts of the Chair of the Inter-Governmental Negotiations (IGN) in moving the IGN process towards text-based negotiations. They welcomed the adoption by consensus of the General Assembly Decision 69/560 to use the text presented by the President of the 69th General Assembly in his letter dated 31 July 2015 as the basis for negotiations within the IGN. They also pledged to support and cooperate with the President of the 70th General Assembly.

The leaders also noted with appreciation the efforts of Member States in moving towards text-based negotiations. They welcomed, in particular, the efforts undertaken by the Member States of the African Group, CARICOM and the L.69 Group. They supported Africa's representation in both the permanent and non-permanent membership in the Security Council. They also noted the importance of adequate and continuing representation of small and medium sized Member States, including the Small Island Developing States, in an expanded and reformed Council.

The leaders emphasized that the G-4 countries are legitimate candidates for permanent membership in an expanded and reformed Council and supported each other's candidature. They also reaffirmed their resolve to continue contributing to the fulfillment of the purposes and principles of the UN Charter. They pledged to work together with all Member States and to accelerate outreach towards achieving an early and meaningful reform of the Security Council. They expressed determination to redouble their efforts towards securing concrete outcomes during the 70th session of the General Assembly.

Utkal Grameen Bank Office Assistant Final Result Declared

Bankers Guru
Utkal Grameen Bank has released the list of candidates provisionally for the post of Office Assistant (Multipurpose). The interview held form 07-09-2015 to 14-09-2015. The final document verifications and appointment for the post of Office Assistant will be held on 05.10.2015.
  • List Of provisionally selected Candidates(Click Here)
  • Draft - Offer of Appointment Letter (Click Here)


Bankers Guru

India’s Polar Satellite Launch Vehicle, in its thirty first flight (PSLV-C30), launched 1513 kg Astrosat into a 650 km orbit of 6 deg inclination to the equator. Along with Astrosat, six satellites from international customers viz., 76 kg LAPAN-A2 of Indonesia, 14 kg NLS-14 (Ev9) of Canada and four identical LEMUR satellites of USA together weighing about 28 kg – launched in this PSLV flight.

Photo: V. Ganesan

PSLV-C30 launched from First Launch Pad (FLP) of Satish Dhawan Space Centre (SDSC) SHAR, Sriharikota. PSLV-C30 is the tenth flight of PSLV in its 'XL' Configuration. The earlier nine flights of PSLV-XL were PSLV-C11/Chandrayaan-1, PSLV-C17/GSAT-12, PSLV-C19/RISAT-1, PSLV-C22/IRNSS-1A, PSLV-C25/Mars Orbiter Spacecraft, PSLV-C24/IRNSS-1B and PSLV-C26/IRNSS-1C, PSLV-C27/IRNSS-1D, PSLV-C28/DMC3 missions. The total payload weight of PSLV-C30 is 1631 kg.

International customer satellites of PSLV-C30

LAPAN-A2 is a Microsatellite from National Institute of Aeronautics and Space-LAPAN, Indonesia. LAPAN-A2 is meant for providing maritime surveillance using Automatic Identification System (AIS), supporting Indonesian radio amateur communities for disaster mitigation and carrying out Earth surveillance using video and digital camera.

NLS-14 (Ev9), a Nanosatellite from Space Flight Laboratory, University of Toronto Institute for Advanced Studies (SFL, UTIAS), Canada. It is a maritime monitoring Nanosatellite using the next generation Automatic Identification System (AIS).

Four LEMUR nano satellites from Spire Global, Inc. (San Francisco, CA), USA, are non-visual remote sensing satellites, focusing primarily on global maritime intelligence through vessel tracking via the Automatic Identification System (AIS), and high fidelity weather forecasting using GPS Radio Occultation technology.


ASTROSAT is India’s first dedicated multi wavelength space observatory. This scientific satellite mission endeavours for a more detailed understanding of our universe. One of the unique features of ASTROSAT mission is that it enables the simultaneous multi-wavelength observations of various astronomical objects with a single satellite.

ASTROSAT will observe universe in the optical, Ultraviolet, low and high energy X-ray regions of the electromagnetic spectrum, whereas most other scientific satellites are capable of observing a narrow range of wavelength band. Multi-wavelength observations of ASTROSAT can be further extended with co-ordinated observations using other spacecraft and ground based observations. All major astronomy Institutions and some Universities in India will participate in these observations.

The science data gathered by five payloads of ASTROSAT are telemetered to the ground station at MOX. The data is then processed, archived and distributed by Indian Space Science Data Centre (ISSDC) located at Byalalu, near Bangalore.

The scientific objectives of ASTROSAT mission are:
  • To understand high energy processes in binary star systems containing neutron stars and black holes
  • Estimate magnetic fields of neutron stars
  • Study star birth regions and high energy processes in star systems lying beyond our galaxy
  • Detect new briefly bright X-ray sources in the sky
  • Perform a limited deep field survey of the Universe in the Ultraviolet region

Payloads of ASTROSAT :

Five payloads of ASTROSAT are chosen to facilitate a deeper insight into the various astrophysical processes occurring in the various types of astronomical objects constituting our universe. These payloads rely on the visible, Ultraviolet and X-rays coming from distant celestial sources.

The Ultraviolet Imaging Telescope (UVIT, capable of observing the sky in the Visible, Near Ultraviolet and Far Ultraviolet regions of the electromagnetic spectrum
Large Area X-ray Proportional Counter (LAXPC, is designed for study the variations in the emission of X-rays from sources like X-ray binaries, Active Galactic Nuclei and other cosmic sources.

Soft X-ray Telescope (SXT) is designed for studying how the X-ray spectrum of 0.3-8 keV range coming from distant celestial bodies varies with time.
Cadmium Zinc Telluride Imager (CZTI), functioning in the X-ray region, extends the capability of the satellite to sense X-rays of high energy in 10-100 keV range.
Scanning Sky Monitor(SSM),is intended to scan the sky for long term monitoring of bright X-ray sources in binary stars, and for the detection and location of sources that become bright in X-rays for a short duration of time.

Computer Knowledge For IBPS-PO/CLERK- Exam : 28.09.2015

Bankers Guru

Computer Knowledge For IBPS-PO/CLERK- Examination

1. A reusable set of commands or steps saved by a user is called a_________. 

(1) function 

(2) template 

(3) macro 

(4) relative reference 

(5) Clip Art 

Ans. (3) A reusable set of commands or steps saved by a user is called a macro. 

2. Types of charts that can be created in a MS-Excel include all EXCEPT a ____________ chart. 

(1) pie 

(2) scatter 

(3) block 

(4) bar 

(5) None of these 

Ans. (3) Types of charts that can be created in a MS-Excel include all EXCEPT a block chart. 

3. Pixels are ________. 

(1) dots on the screen arranged in rows. 

(2) dots of ink from an inkjet printer. 

(3) points of light used by a cordless, wireless, optical mouse. 

(4) points on the end of PDA handheld devices 

(5) None of these 

Ans. (1) Pixels are dots on the screen arranged in rows. 

4. The density of pixels on a screen is known as ______. 

(1) screen clarity 

(2) pixility 

(3) pixel depth 

(4) resolution 

(5) Point 

Ans. (4) The density of pixels on a screen is known as resolution. 

5. Previously drawn images that artists can legally use in their own work are known as _____. 

(1) copyart 

(2) clip art 

(3) free art 

(4) shareware 

(5) Image 

Ans. (2) Previously drawn images that artists can legally use in their own work are known as clip art. 

6. CAD software is primarily used in _________. 

(1) desktop publishing 

(2) software development 

(3) engineering 

(4) accounting 

(5) Agriculture 

Ans. (3) CAD software is primarily used in engineering. 

7. CAD stands for ________. 

(1) Computer-Assisted Design 

(2) Computer Application Design 

(3) Computer Application and Design 

(4) Computer-Aided Design 

(5) Computer Advertisement Design 

Ans. (4) CAD stands for Computer-Aided Design. 

8. PowerPoint is an example of _______. 

(1) presentation graphics software 

(2) raster graphics software 

(3) photo management software 

(4) gray-scale graphics software 

(5) Table Graphics 

Ans. (1) PowerPoint is an example of presentation graphics software. 

9. The creation of motion from still pictures is called ______. 

(1) a presentation 

(2) 3-D modeling 

(3) transition 

(4) animation 

(5) Clip Art 

Ans. (4) The creation of motion from still pictures is called animation. 

10. When something is displayed at the same time as it is created, accessed, or imported, it is known as ______. 

(1) digital time 

(2) real time 

(3) online time 

(4) batch time 

(5) On time 

Ans. (2) When something is displayed at the same time as it is created, accessed, or imported, it is known as real time.

Vocabulary - 28.09.2015

Bankers Guru

1. BOMBINATE (VERB): make droning sound

Synonyms: reverberate, hum 

Antonyms: speak 

Example Sentence:

Sometimes, my computer bombinates very late at night, stops for a bit of rest, then resumes its hum at the early hours of the morning.

2. INSULAR (ADJECTIVE): narrow-minded

Synonyms: isolated, confined Antonyms: unprejudiced, unbiased 

Example Sentence:

Even in the era of globalization, it looks like the people of North Korea live an insular 

3. CONDONE (VERB): make allowance for

Synonyms: pardon, overlook Antonyms: deny, prevent

Example Sentence:

The police officer condoned the rude behavior of the taxi drivers, he just ignored them.

4. RUSTIC (ADJECTIVE): country, rural

Synonyms: primitive, pastoral Antonyms: cultured, polished 

Example Sentence:

Life in the summer camp was too rustic; we missed cold drinks, electricity and comfortable sofa.

5. BRACE (NOUN): support

Synonyms: clamp, splint Antonyms: help 

Example Sentence:

Trembling so violently that he had to lean on the balustrade for brace, he told me.

6. CONJURE (VERB): appeal to, implore

Synonyms: importune, ask Antonyms: disgust, give

Example Sentence:

The chef conjured up a fabulous meal with the simple ingredients in our kitchen.

7. DELPHIAN (ADJECTIVE): secret; obscure in meaning 

Synonyms: enigmatic, ambiguous Antonyms: certain, known

Example Sentence:

To prove to others that they knew nothing, is what he himself represents to be his mission from the Delphian oracle.

8. RECIPROCATE (VERB): exchange, alternate; equal 

Synonyms: respond, interchange Antonyms: disagree, refuse

Example Sentence:

The passenger hit the pick-pocket with a stick. He reciprocated by hitting him in the nose. 


Synonyms: unrelated, divergent Antonyms: relevant, appropriate

Example Sentence:

The relationship of India's politicians to their electorate is largely tangential; they rarely meet their people except right before elections.

10. EXCRESCENCE (NOUN): protuberance

Synonyms: knob, outgrowth Antonyms: decrease, shrinkage

Example Sentence:

There is also a ninth tower, which looks like an excrescence, in the rear.

General Awareness Questions : IBPS-PO/CLERK : 27.09.2015

Bankers Guru
1. What is the Currency of Hungary? - Hungarian forint

2. Indian Railways has rechristened ---- as Yoga Express.? - Haridwar Mail

3, The mission mode objective of the Pradhan Mantri Jan Dhan Yojana (PMJDY) consists of providing Basic Banking Accounts with overdraft facility of ----- after six months . - Rs.5000

4. Each year the International Day of Peace is observed around the world on -------. - 21 September. 

5. What is the Capital of Uzbekistan? - Tashkent

6. Mettur Dam is constructed across the ----- in Tamil Nadu. - Kaveri River

7. Under Pradhan Mantri Jeevan Jyoti Bima Yojana, life insurance cover of Rs. two lakhs for death due to any reason is offered to all saving bank account holders in the age group of 18 to 50 years for a premium of ---- per annum per member. - Rs. 330/-

8. Private lender ----- launched an awareness initiative 'Dhanchayat' - an educational film made by the bank to raise awareness on the dangers of borrowing money from the unorganised sector, particularly in rural areas. - HDFC Bank

9. Joshna Chinappa is a ----- player based in India. - squash 

10. The Reserve Bank of India (RBI) has today decided to grant “in-principle” approval to the following 10 applicants to set up small finance banks. The Reserve Bank received ------ applications for small finance banks. - 72

11. The Reserve Bank penalised 16 central cooperative banks with a fine of Rs 5 lakh each for ------ and Anti-Money Laundering guidelines. - non-adherence of the Know Your Customer

12. In the first ever merger of two regulators, over 60-year-old FMC (Forward Markets Commission) will merge on ---- with the younger but much bigger capital markets watchdog SEBI to create a unified regulatory body. - 28 Sep

13. Kisan Vikas Patra is a saving certificate scheme which was first launched in 1988 by India Post. The minimum amount that can be invested is ------. - Rs 1000.

14. The Reserve Bank of India (RBI) has set a minimum paid-up capital of ---- for those who wish to set up payments and small banks. - Rs.100 crore

15. Which train is the first semi high-speed train service between Delhi and Agra which would touch speeds of up to 160 kmph? - Gatimaan Express

16. Who have won the mixed doubles event of the Wimbledon Championship? - Martina Hingis & Leander Paes

17. Bharatiya Mahila Bank (BMB) is an Indian financial services banking company based in -----, India. - New Delhi

18. Who is the author of the book ’30 Women in Power: Their Voices, Their Stories’? - Naina Lal Kidwai

19. In a bid to curb ----, the government has made PAN card mandatory for all transactions above Rs 1 lakh. - black money

20. The government o raised the solar power generation capacity addition target by five times to ----- by 2022, which will entail an investment of around Rs. 6 lakh crore. - 1,00,000 MW

21. Who is the creator of the Rock Garden, died aged 90? - Nek Chand

22. Which country was awarded the rights to host the 2022 Commonwealth Games? - Durban, South Africa 

23. Who is currently the Union Cabinet Minister for Heavy Industries and Public Sector Enterprises? - Anant Gangaram Geete

24. The State Bank of India (SBI) launched a new mobile app called ---- in partnership with Accenture and Mastercard. - Buddy

25. Country's largest private lender ----- has launched a service where customers can make transactions using just their voice, without using other means of authentication like a password. - ICICI Bank

26. According to the nonprofit Institute for Economics and Peace, -----, the thinly populated island in the midst of the North Atlantic has retained its place as the most peaceful country in the world. - Iceland

Most of the above questions are from E-News Portal.

General Awareness Questions : IBPS-RRBs-OFFICE ASSISTANT (Morning Shift - 27.09.2015)

Bankers Guru
1. GIFT is an under-construction central business district between Ahmedabad and Gandhinagar in the Indian state of Gujarat. What is fthe full form of GIFT? - Gujarat International Finance Tec-City

2. What is the capital of Egypt? - Cairo

3. What is the currency of Argentina? - Argentine peso

4. The Reserve Bank of India (RBI) has set a minimum paid-up capital of ---- for those who wish to set up payments and small banks. - Rs.100 crore

5. Who has won the 2015 US Open men's title? - Novak Djokovic

6. Sukanya Samridhi Account can be opened at any time from the birth of a girl child till she attains the age of 10 years with a minimum deposit of ------. - 1000 rupees

7. Which river is the longest river in Asia and the third-longest in the world? - Yangtze River

8. The Brahmaputra is a trans-boundary river and one of the major rivers of Asia. With its origin in the ------- glacier. - Chemayungdung

9. Who is the current Chairman of the International Cricket Council (ICC)? - Narayanaswami Srinivasan

10. Taking to task the companies without a woman director, Sebi announced a minimum ----- fine on them and warned of further action, including against promoters and directors, for non-compliance beyond September. - Rs 50,000

11. Global trade is set to expand by 3.3 per cent this year and 4 per cent next year on account of cut in protectionist measures and improving market access, according to the World Trade Organisation's forecast. For India which is aiming to increase its share in the global trade to ---- from the current 2 per cent by 2020. -3.5 per cent

12. Global Internet giant ----- may join hands with Indian Railways to instal Wi-Fi connections at 400 stations across the country. - Google

13. Meenakshi Amman Temple is a historic Hindu temple located on the southern bank of the Vaigai River in the temple city of Madurai, -----, India. - Tamil Nadu

14. Who launched “Niryat Bandhu@Your Desktop” An Online Certificate Programme in Export Import Business?- Directorate General of Foreign Trade (DGFT)

15. The National Skill Development Corporation has begun implementing ---- Pradhan Mantri Kaushal Vikas Yojna (PMKVY) to provide skills training to 24 lakh people, including youth. - Rs 1,500-crore

16. Who recently set a world record on the International Day of Yoga, June 21, 2015 in Dubai for a 61-minute headstand? - Ivan Stanley

17. Ring of Fire is the English translation of L'anello di fuoco, the 2006 Italian fantasy novel for young people written by -------. Pierdomenico Baccalario

18. Who took over as the new Home Secretary in place of LC Goyal? - Rajiv Mehrishi

19. The government allowed ----- foreign direct investment (FDI) under the automatic route, to set up white label ATM (WLA). - 100% 

20. Who scripted history by becoming Britains longest-reigning monarch after surpassing Queen Victorias rule of over 63 years? - Queen Elizabeth II

21. World Water Day is marked on ------ every year. - 22 March

22. Ashoka last major emperor in the ----- dynasty of India. - Mauryan 

23. A Tale of Two Cities, which is one of two historical novels written by -------. Charles Dickens

24. LIBOR is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. What is the full form of LIBOR? - London Interbank Offered Rate

25. Misar is a town in the municipality of Sabac, -------. - Serbia

26. What is the currency of Cuba? - Cuban peso, Cuban convertible peso

27. What does NPA stand for?  - Non-Performing Asset 

28. Which bank launched a debit card, Secure+, that will allow you to switch on or off your card, the way you can switch your laptop or mobile phone on and off? - Axis Bank 

29. Which bank has launched Chillr, a mobile app that allows users to instantly transfer money to any contact in their phonebook 24 hours a day and seven days a week. - HDFC Bank 

30. In the first full budget of the Narendra Modi government, finance minister Arun Jaitley proposed to abolish the ------. - wealth tax

General Awareness Questions : IBPS - PO/CLERK Exam

Bankers Guru
1. Satish Dhawan Space Centre is a rocket launch center operated by Indian Space Research Organisation. It is located in Sriharikota in ---------. - Andhra Pradesh

2. Teacher's Day in India, yearly celebrated at -------, Radhakrishnan's birthday, in honour of Radhakrishnan's believe that "teachers should be the best minds in the country". - 5 September

3. The ----- is the currency of Tajikistan. - Tajikistani Somoni

4. Bank account holders aged between ----- are eligible to apply for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). - 18 and 50 years

5. Under the Atal Pension Yojana , the subscribers would receive the fixed minimum pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, ------ per month, at the age of 60 years, depending on their contributions, which itself would be based on the age of joining the APY. - Rs. 5000

6. Defence Research and Development Organisation (DRDO) has got its first woman Director General with the appointment of ----- as Director General, Electronics & Communication Systems cluster. - J Manjula

7. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), announced her intention to appoint Maurice Moses "Maury" Obstfeld as Economic Counsellor and Director of the IMF’s Research Department.

8. Insurance Regulatory and Development Authority of India (IRDAI) operates from its headquarters at ----- where it shifted from Delhi in 2001. - Hyderabad, Telangana 

9. Making India Awesome is the book by renowned author ------. - Chetan Bhagat

10. Former Pakistan captain ----- assumed the role of the ICC President of the ICC Annual Conference Week in Barbados . - Zaheer Abbas

11. Aadesh Shrivastava, who was passed away recently. Who was he? - Music composer

12. The Chairperson and members of the NHRC are appointed by the -------. - President of India

13. The 10th World Hindi Conference (WHC) is being organized from 10-12 September 2015 in the city of -----. - Bhopal

14. ----- was an English newspaper published from Kolkata (then Calcutta), India. It was the first major newspaper in India, started in 1780. - Hickey's Bengal Gazette

15. Machu Picchu is an Incan citadel set high in the Andes Mountains in -----, above the Urubamba River valley. - Peru

16. The ------ is considered the oldest in the world. - Amsterdam Stock Exchange

17. Who is the Chairman of the 14th Finance Commission of India since 3 January 2013? - Y. V. Reddy

18. The government has notified the merger of commodities regulator Forward Market Commission with the --------. - Securities and Exchange Board of India

19. Former Delhi High Court Chief ------- has been appointed as the new chairman of the 20th Law Commission of India. - Justice Ajit Prakash Shah

20. The New Development Bank (NDB), set up by five BRICS nations including India, will start lending in local currency by -------. - April 2016

21. Bajrang Kumar is related to which sport? - Wrestling

22. Who has won the 2015 Italian Grand Prix? - Lewis Hamilton

23. The World Photography Day is annually observed on ---- across the world. - Aug 19

24. The Telecom Regulatory Authority of India (TRAI) is the independent regulator of the telecommunications business in ------, India. - New Delhi

25.------- , the embattled chief executive of Volkswagen, has announced that he is to resign following the scandal surrounding the emissions of its diesel cars. - Martin Winterkorn

26. The GPS is a satellite-based navigation system made up of a network of 24 satellites placed into orbit by the U.S. Department of Defense. What is the full form of GPS? - Global Positioning System

27. Which Bank launched India’s first robotic locker facility? - ICICI 

28. ----- was declared as the International Day of Yoga by the United Nations. - June 21

29. A milestone today is that the ---- scheme has been acknowledged by the Guinness Book of World Records for being the largest cash transfer program (households). - “Pahal”

30. Union Finance Minister Arun Jaitley launched two funds by ------, a fund of funds with total corpus of Rs 12,000 crore. - Small Industries Development Bank of India (SIDBI)

31. The Banking Ombudsman is a senior official appointed by the ----- to redress customer complaints against deficiency in certain banking services. - Reserve Bank of India

32. Who was the first Finance Minister of Independent India? - Sir Ramasamy Chetty Kandasamy Shanmukham Chetty

33. Which indian state will soon be the first state to launch a new renewable energy program that will use solar energy to power the agricultural sector. - Gujarat

34. A Reserve Bank of India panel has recommended conversion of ------, which have a revenue of more than Rs 20,000 crores into regular banks. - Urban Cooperative Banks (UCBs)

35. In his second Independence Day address from the ramparts of Red Fort, Prime Minister Narendra Modi coined another new slogan —. - “Start-up India and Stand up India”.

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