& ...An 18-year-old golfer Aditi Ashok slipped away from being in top-10 at the end of second round...

WWW.CAREERPOWER.IN & WWW.BANKERSADDA.COM

C O M P E T I T I O N P O W E R – O C T O B E R - 2 0 1 6

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From the Editor’s Desk Dear Readers, Bankers Adda in collaboration with Career Power brings to you Competition Power (October Edition). The reason why this collaboration is so important and a landmark event as both BA and Career Power has had a long and extremely successful association with students appearing for competitive exams.

This magazine includes various initiatives that cover various aspects of Banking and SSC exams in an exhaustive manner. Keeping in mind the upcoming exams, we have covered Current Affairs for not only the month of August but also for the month of July under the name “Current Affairs Zinger”. To make learning easy for the students we have also introduced another initiative by the name "NEWS MAKER OF THE MONTH" which covers all the important people, appointments, awards, etc that have made news.

Having covered the GK and CA portion in an exhaustive manner, we have also given equal importance and focus to all the other aspects of the exams, be it Covering each aspect of the various subjects (like reasoning, english, quant, computers) right from building the student's concepts to helping him practice a few topics.or be it Interview Preparation or Guidance and boosting the confidence of students. We Have It All Covered!!!

Along with this we have also included Mock Papers on IBPS PO Mains Practice Set, SBI PO Mains Memory Based Mock, IBPS PO Prelims Practice Set, IBPS PO Prelims Practice Set and SSC CGL 2016 Practice Set following the respective exam pattern for practice for our readers, so that they can increase their speed and accuracy. This edition of Magazine also includes a new series named “Twisted Ones”which will have questions with higher difficulty level.

Basically this magazine is a one stop place for all those preparing for government sector competitive exams. Within few months of its launch, it has become quite popular among the students, who love to refer to it for their exams.

We believe that each and every student has the hidden potential to reach the unattainable heights, and it is our responsibility to provide them with a platform that hones their skills enabling them to overcome each and every challenge that comes their way while appearing for these exams.

Having said this I would like to give special thanks to the specialized mentors of Bankers Adda and Career Power team for providing us with the needed support and making this magazine a success.

Good Luck And God Bless Team Competition Power !!

WHAT’S THERE?

Motivational Artilces | 4, 51

Success Story | 9

Handy Notes & Quizzes :

- Time & Work | 45

- Statement and Assumptions | 47

- Present Continuous Tense | 49

- Earth's Atmosphere Layers | 50

GK Hindu Review : August | 52

GA Trickky Notes: G-7 Countries | 60

Current Affairs Zinger : July | 61

Twisted Ones | 70-75

NEWSMAKERS OF THE MONTH | 3-8

CURRENT AFFAIRS | 10-44

India In News | State In News | News From The Banking Sector News

Related To Indian Economy | Business News | Agreement | Mou Signed

| Committees In News |

Ranks And Reports | Pm Visits | New Appointments | Obituaries |

Awards | Defence | Sports News & more

MOCK PAPERS | 76-135 SSC CGL-2016 Practice Set: 76 | IBPS PO Prelims Practice Set: 85

IBPS PO Mains: 96 | SBI PO Mains Memory Based : 118

Volume No. -1 October 2016 Issue - 12

Chief Editor: Gopal Anand

Team: Prashant, Saurabh, Meena, Aniket, Neeraj, Veer, Vandana, Ashish, Swati & Team

Relationship Officer: Rajat Mehra Contact No: 8750044896

Published and Printed by Anil Nagar

On behalf of Metis Eduventures Pvt. Ltd.

Printed at All Time Offset Printer,

F-406, Sector-63, NOIDA (U.P.)

Published at 705-706, 7th

Floor, Roots Tower,

Laxmi Nagar District Centre, Delhi-92

Email: [email protected]

Website: www.bankersadda.com &

www.careerpower.in



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Motivational : From "Tripura" To "Rio"

An Indian girl performing the Death Vault was not only

surprising for Indians but also raised the expectation of

medal in Rio Olympics. After having failed to secure a medal,

she won billions heart. Not only Indians but everyone, who

have seen her performing, praised her.

By qualifying in Olympics 2016 Dipa Karmakar proved that

one can achieve anything - possible or impossible - if one has

clarity in his/her vision and has complete devotion towards

his/her dreams.

The 22 year old girl - Dipa inked her name with golden ink in

India's history by becoming the first Indian woman gymnast

to qualify for the Rio Olympics till date. Becoming the first

Indian female gymnast to qualify for the quadrennial event is

not an achievement to be taken lightly and when you

perform against all odds, the success tastes much sweeter.

The one word that symbolises Dipa Karmakar is 'Pliable'!

Born in Tripura in 1993, Karmakar found her entry into

gymnastics fraught with difficulties. She was born with flat

feet, considered extremely disadvantageous for a budding

gymnast, and she was trying to excel in a sport which many

Indians had not even heard of.

Many times it became difficult to continue for her dreams,

but, Karmakar never let her difficulties get to her. Gradually,

started setting new records – first at the national level in

2011, then a bronze at the Commonwealth Games in 2014

and a fourth-place finish at the Asian Games in 2015.

With a fifth place finish at the World Championships in 2015,

Karmakar had already become the torchbearer of Indian

gymnastics. But despite her incredible success, realising the

dream – the Olympics – seemed out of reach. But she is a

winner, not looser. You should also ruminate about what do

you want to become? Which choice do you have to choose?

Ironically, Karmakar is one of the few women in the world

who have successfully performed a Produnova vault,

considered one of the toughest vaults in the gymnastics

world. However, despite her mastery over that particular

move, her performances in the other categories had kept her

outside a podium finish at the World Championships, keeping

her out of the Olympics. But Dipa worked hard, appeared in

the test and subsequently got selected in the final list!

At the 79th position among individual qualifiers was the

name of Dipa Karmakar. And with that, the diminutive 22-

year old from Tripura had boldly gone where few had

treaded – the

first Indian

woman gymnast

to qualify for an

Olympics, and

the first gymnast

from India since

an all-male six-

member team

participated in the quadrennial extravaganza in 1964. And

hence she put a full stop to the 52 years long journey of India

in Gymnastics at Olympics!

Selection of Dipa Karmakar is a reminder that India can

produce champions in each and every field! Yes! We can do

what we think of!

So what are you waiting for? Just go on! Be the Dipa

Karmakar of your field!

"Its never too late. If you have not started yet, start now!"



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NEWS MAKERS OF THE MONTH – AUGUST 2016

Rio Olympics 2016 concluded

President of the International Olympic Committee

(IOC), Thomas Bach declared the official closing of the Rio

2016 Olympics

saying 'the

marvellous Games

in the marvellous

city ends' and next

Olympics is to be

hosted by Tokyo,

Japan. For India, the first female wrestling medalist, Sakshi

Malik carried the Flag into the stadium, USA ended on

top position and India at 67 positions in the medal tally.

Opening ceremony flag-bearer - Abhinav Bindra.

Closing ceremony flag-bearer - Sakshi malik

Medal Tally of Rio Olympic 2016

Rank Country Gold Silver Bronze Total

1. USA 46 37 38 121

2. GBR 27 23 17 67

3. CHN 26 18 26 70

4. RUS 19 18 19 56

5. GER 17 10 15 42

67. IND 0 1 1 2

Highlights:

1. Gymnast Dipa Karmakar narrowly missed the bronze by

finishing fourth in the women's vault.

2. An 18-year-old golfer Aditi Ashok slipped away from

being in top-10 at the end of second round to finish 41st

with an overall score of seven-over 291.

3. wrestler Narsingh Yadav was slapped with a four-year

ban by the Court of Arbitration of Sports which

overturned the clean chit given by the NADA.

4. India's Seema Punia failed to qualify for the final in the

women's discus throw on Day of the Rio.

5. Deepika Kumari failed to live up to the hype and made

some costly blunders as the much-fancied women's team

made a quarterfinal exit losing to Russia in a shoot-off.

6. Gagan Narang, who competed in three events of 50m

rifle 3P, 50m rifle prone and 10m air rifle, but the London

Olympics bronze medalli st failed to make an impression

in any of them. The likes of Heena Sidhu, Ayonika Paul,

and Apurvi Chandela also failed to live up to the hype

losing in the elimination stage.

7. Yogeshwar Dutt lost to Ganzorig Mandakhnaran of

Mongolia in the men's 65kg freestyle wrestling and lost

0-3 in the qualification round.

8. P V Sindhu has won a silver medal in women's singles

badminton event at Rio Olympics, 2016.

9. wrestler Sakshi Malik has won a bronze in 58 kg

category.

10. Usain Bolt has won 3 gold medal.

11. Michael Phelps has won 4 golds and 2 silver medals.

12. Vinesh Phogat lost to China's Sun Yanan in wrestling

women's freestyle 48 kg quarterfinal.

13. Indian's Badminton player, Kidambi Srikanth lost to Lin

Dan of China 2-1 in the quarter-finals of the men's singles

event

14. India also had participation in swimming, judo, rowing,

table tennis and weightlifting where their performance

was buried by the top competition.

Urjit Patel Appointed as the new

RBI Governor

RBI has announced, Urjit Patel as the governor of

the Reserve Bank of

India. Presently, he is

one of the four deputy

governors at the RBI. He

became the deputy

governor in 2013 to

replace Subir

Gokarn. After that in 2016, he was reappointed for

another three years.

He has run the central bank's monetary policy department

since 2013 and has worked closely with the Raghuram

Rajan during his stint at the central bank.

Let’s have a look at the Profile of the new Governor of RBI:

He is a PhD (economics) from Yale University

(1990) and MPhil from Oxford (1986).

Prior to his appointment as the deputy governor at the RBI,

he was:



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1. Advisor (energy & infrastructure), The Boston Consulting

Group.

2. Non-resident Senior Fellow, The Brookings Institution

since 2009.

3. Was with the International Monetary Fund (IMF), where

he worked on the US, India, Bahamas and Myanmar

desks.

4. Was on deputation from the IMF to the RBI.

5. Also served the government in various positions during

the NDA-I regime.

6. Served as a consultant to the ministry of finance,

department of economic affairs, New Delhi.

Apart from these, his other assignments include, President

(Business Development), Reliance Industries; executive

director and member of the management committee, IDFC;

member of the Integrated Energy Policy Committee of the

Government of India; and member of the Board, Gujarat

State Petroleum Corporation Ltd, the RBI site said.

Between 2000 and 2004, Patel has worked closely with

several Central and state government high-level committees

such as, Task Force on Direct Taxes, Union Ministry of

Finance; Advisory Committee (on Research Projects and

Market Studies), Competition Commission of India;

secretariat for

the Prime Minister’s

Task Force on

Infrastructure; Group

of Ministers

on Telecom Matters;

Committee on Civil Aviation Reforms; Ministry of Power’s

Expert Group on State Electricity Boards and High Level

Expert Group for Reviewing the Civil & Defence Services

Pension System, Government of India.

Patel has authored technical publications, papers and

comments in the areas of Indian macroeconomics, public

finance, infrastructure, financial inter-mediation,

international trade and the economics of climate change.

Inflation Fighter

During his tenure at the RBI, Patel was seen as a close

lieutenant to Rajan. He headed a committee that introduced

landmark changes in the monetary policy formulation of the

central bank.

The changes he helped drive are considered to be among the

most significant monetary policy reforms since India opened

up its economy in 1991.

Lok Sabha unanimously passes GST

Bill

The Lok Sabha has unanimously passed the 122nd

Constitutional

Amendment

Bill as amended

by the Rajya

Sabha with all

443 members

voting in favour

and this will

now be sent to

state assemblies for approval after the President approves it.

The Bill was passed by Lok Sabha and transmitted to Rajya

Sabha for concurrence. Rajya Sabha passed the Bill with

amendments at its sitting held on the August 3, 2016 and

returned it to Lok Sabha.

Let discuss this in Brief:

What is Goods and Services Tax (GST)?

a) As the name suggests, it is a tax levied when a consumer

buys a good or service. It is meant to be a single,

comprehensive tax that will subsume all the other smaller

indirect taxes on consumption like service tax, excise duty

etc.

b) It will be a comprehensive nationwide indirect tax on the

manufacture, sale, and consumption of goods and services.

The aim is to have one indirect tax for the whole nation,

which will make India a unified common market.

What all will it subsume?

At the central level, the following taxes will be subsumed:

Central Excise Duty, Additional Excise Duty, Service Tax,

Countervailing Duty (Additional Customs Duty), and Special

Additional Duty of Customs.

At the State level, the following taxes will be subsumed: State

Value Added Tax/Sales Tax, Entertainment Tax, Central Sales

Tax, Octroi and Entry tax, Purchase Tax, Luxury tax, and Taxes

on the lottery betting and gambling.

How will GST be beneficial?

The benefits of GST can be summarized as under:

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• For business and industry

1. Easy compliance

2. Uniformity of tax rates and structures

3. Removal of cascading

4. Improved competitiveness

5. Gain to manufacturers and exporters

• For Central and State Governments

1. Simple and easy to administer

2. Better controls on leakage

3. Higher revenue efficiency

• For the consumer

1. Single and transparent tax proportionate to the value of

goods and services

2. Relief in overall tax burden

By when will it be implemented?

Assuming the Constitution Amendment Bill does pass in the

Monsoon Session, GST will still not be in force before April 1,

2017.

How would GST be administered in India?

There will be two components of GST – Central GST (CGST)

and State GST (SGST). Both Centre and States will

simultaneously levy GST across the value chain. The tax will

be levied on every supply of goods and services.

Bezwada Wilson and T.M. Krishna win Ramon

Magsaysay Award

Classical singer Thodur Madabusi Krishna and National

Convenor of Safai Karmachari Andolan Bezwada Wilson

featured in this

year's list of

winners of the

coveted Ramon

Magsaysay

Award 2016.

Apart from the

two Indians, four

others have been selected for the award—Conchita Carpio-

Morales of the Philippines, Dompet Dhuafa of Indonesia,

Japan Overseas Cooperation Volunteers and ‘Vientiane

Rescue’ of Laos.

ilson recruited volunteers and or ed ith alit activists to

or ani e a people s movement called Safai Karmachari

Andolan (SKA) that has filed cases and liberated hundreds of

thousands from manually removin human e crement from

dry latrines. he Safai aramchari ndolan that ilson

founded in 994 has ro n into a net or of 7

members in 5 districts across the country.

The Ramon Magsaysay Award, established in 957 in

commemoration of the third hilippine president is

considered sia s e uivalent of the obel ri e and one of

sia s highest honours.

Indian Carnatic musician Thodur Madabusi Krishna who is

advocatin art s po er to heal the nation’s deep social

divisions and the Japan Overseas Cooperation Volunteers

group that sends young adults abroad to volunteer in other

communities.

Guidelines released for ‘on tap’

licensing of Universal Banks in the

Private Sector

The norms for 'on-tap'' licensing of Universal Banks in the

Private Sector has been released by the Reserve Bank of

India. RBI also stated that the validity of the in-principle

approval issued by the RBI will be 18 months from the date of

granting in-principle approval.

Key Aspects of the Guidelines

i. Resident individuals and professionals having 10 years of

experience in banking and finance at a senior level are

also eligible to promote universal banks,

ii. Large industrial houses are excluded as eligible entities

but are permitted to

invest in the banks

up to 10 %

iii. Non-Operative

Financial Holding

Company (NOFHC)

has been made non-

mandatory in case of

promoters being

individuals or

standalone

promoting/converting entities who/which do not have

other group entities,

iv. Not less than 51 % of the total paid-up equity capital of



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the NOFHC shall be owned by the promoter/promoter

group, instead being wholly owned by the promoter

group,

v. Existing specialised activities have been permitted to be

continued from a separate entity proposed to be held

under the NOFHC subject to prior approval from the

Reserve Bank and subject to it being ensured that similar

activities are not conducted through the bank as well,

vi. The initial minimum paid-up voting equity capital for a

bank shall be 500 crore rupees. Thereafter, the bank shall

have a minimum net worth of 500 crore rupees at all

times,

vii. The bank shall get its shares listed on the stock

exchanges within six years of the commencement of

business by the bank,

viii. Foreign shareholding in the bank would be as per the

existing foreign direct investment policy subject to the

minimum promoter shareholding requirement. At

present, the aggregate foreign investment limit is 74 per

cent,

ix. The bank shall open at least 25 per cent of its branches in

unbanked rural centres and should comply with the

priority sector lending targets and sub-targets as

applicable to the existing domestic scheduled

commercial banks.

National Sports Awards 2016

The sports ministry has announced the National Sports, the

Rio Olympics medallists shuttler P.V. Sindhu and wrestler

Sakshi Malik will receive the prestigious Rajiv Gandhi Khel

Ratna award along with gymnast Dipa Karmakar and shooter

Jitu Rai. National Sports Awards are given every year to

recognize and reward excellence in sports. A large number of

nominations were received for these awards this year, which

were considered by the Selection Committees consisting of

former Olympians, Arjuna Awardees, Dronacharya Awardees,

Dhyan Chand Awardees. Based on the recommendations of

the Committee and after due scrutiny, the Government has

decided to confer awards upon the following

sportspersons/ coaches/ organizations:

1. Rajiv Gandhi Khel Ratna Award:

Name of the awardee Discipline

1. Ms. P.V. Sindhu Badminton

2. Ms. Dipa Karmakar Gymnastics

3. Shri Jitu Rai Shooting

4 Ms. Sakshi Malik Wrestling

2. Dronacharya Awards 2016


1. Shri Nagapuri Ramesh Athletics

2. Shri Sagar Mal Dhayal Boxing

3. Shri Raj Kumar Sharma Cricket

4. Shri Bishweshwar Nandi Gymnastics

5. Shri S. Pradeep Kumar Swimming (Lifetime)

6. Shri Mahabir Singh Wrestling (Lifetime)

3. Arjuna Awards 2016


1. Shri Rajat Chauhan Archery

2. Ms. Lalita Babar Athletics

3. Shri Sourav Kothari Billiards & Snooker

4. Shri Shiva Thapa Boxing

5. Shri Ajinkya Rahane Cricket

6. Shri Subrata Paul Football

7. Ms. Rani Hockey

8. Shri Raghunath V.R. Hockey

9. Shri Gurpreet Singh Shooting

10. Ms. Apurvi Chandela Shooting

11. Shri Soumyajit Ghosh Table Tennis

12. Ms. Vinesh Wrestling

13. Shri Amit Kumar Wrestling

14. Shri Sandeep Singh Mann Para-Athletics

15. Shri Virender Singh Wrestling (Deaf)

4. Dhyan Chand Award 2015 Name of the awardee Discipline

1. Ms. Satti Geetha Athletics

2. Shri Sylvanus Dung Hockey

3. Shri Rajendra Pralhad Shelke Rowing

5. Maulana Abul Kalam Azad (MAKA) Trophy 201516 -

Punjabi University, Patiala

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Success Story : "तिनके तिनके बटोर कर, मैंने कारवााँ बना तिया"

Name : Chand Soni

Age : 25

Qualification B Tech

Place : Meerut

Designation-PO in Oriental Bank Of Commerce.

Dear friends,

I belong to a small place Hastinapur which has very limited

facilities. After

completion of

my B-Tech in

2011 I did private

job and struggle

starts from there.

I worked for 13-14

hrs a day and got

very low amount

in salary. I used to

do hard work but

never got satisfaction in pvt sector.

After continuous struggle of 3 years, at last I decided to quit and

go for a PSU. Hence I attempted IBPS and RRB exams in 2014

and couldn't pass even cut offs. Finally, I resigned from my job

(tough decision) and started preparation for Bank jobs

from March 2015.

I left study in 2011 so it was bit difficult to concentrate again on

study but I went through with full energy and dedication. I am

good in mathematics and reasoning but English was not my cup

of tea. So I gave more time to English, read articles and solved

practice sets. For current affairs I regularly followed

bankersadda. I attempted daily quiz and read daily updates.

I gave so many exams but I couldn't clear, but I never thought

that I failed but I had a feeling that I learnt something new (self

belief) and always followed never say die approach. I attempted

a number of speed tests and it helped me a lot.

Exams and their result:

2014:

IBPS PO- couldn't clear cutoffs

RRB PO- couldn't clear cutoffs

2015:

SBI PO- couldn't clear even preliminary exam

LIC ADO- written clear but out from interview

RBI Assistant-150 marks

RRB PO- 120 marks but couldn't make in final list(missed by .75

marks)

RRB Clerk- 119 marks but again out in interview.

IBPS PO- 90 marks and 70 in interview (selected in Oriental Bank

Of Commerce)

IBPS Clerk- 155 marks(selected in PNB)

So finally I tasted the success and I am really very satisfy with

myself!

So guys please have patience, give your best, never lose hope,

do smart work with full dedication and apply yourself.

Sometimes u win, Sometimes u learn.

"बीच रास्ि े स े िौटन े का कोई फायदा नहीं क्योंकक िौटन े पर आपको

उिनी ही दरूी िय करनी पड़ेगी तजिनी दरूी िय करन ेपर आप िक्ष्य िक

पहाँच सकि ेह|ै"

A special thanks to Bankersadda and career power.

All the very best friends!

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CURRENT AFFAIRS : AUGUST 2016

INDIA IN NEWS

India pledges Rs 39.97 million for upgrading school in Nepal India has pledged financial assistance worth 39.97 million Nepali

Rupees for the construction of a new building & a hostel facility

at a Sanskrit school in eastern Nepal.

Govt slaps $380 mn additional fine on RIL The Government has slapped an additional penalty of $380

million (around Rs. 2,500 crore) on Reliance Industries & its

partners for producing less than targeted natural gas from

eastern offshore KG-D6 fields.

Piyush Goyal Launches Portal For E-Auction Of Power Transmission Projects Union power minister Piyush Goyal has launched the process of

the tariff-based reverse auction in the transmission sector,

simultaneously inaugurating a portal for electronic bidding for

transmission projects. He launched “ aran ” mobile pp “e-

rans” & “ EE ” ( iscovery of Efficient Electricity rice) e-

bidding web portals.

IIT-Kanpur Adopts Villages Under Namami Gange IIT-Kanpur has adopted 5 villages under the Namami Gange programme & will use its expertise to restrict the flow of sewage into the river. The five villages adopted by the institute are Ramel Nagar, Khoyra Katree, Pratapur, Hari Hindpur, & Katri Ladhva Khera.

Sachin Tendulkar adopts village in Osmanabad under SAGY Former Cricketer & Rajya Sabha MP Sachin Tendulkar has

selected Donja village in Osmanabad district of Maharashtra for

development under the Sansad Adarsh Gram Yojna (SAGY).

Country’s first bio-CNG plant to be inaugurated in Pune India’s first bio-CNG plant to be inaugurated in Pune.

Commissioned by city-based Primove Engineering Private

Limited, this plant will use agricultural residue to generate CNG

which can be used in automobiles as fuel.

Modi announces 20% hike in freedom fighters' pension PM Narendra Modi has announced 20% hike in pension of

freedom fighters. Those who are receiving Rs.25,000 will now

get Rs.30,000, PM Modi said in his address to nation from Red

Fort on 70th Independence Day.

Government notifies revised tax treaty with Mauritius The Government of India has notified the revised tax treaty with

Mauritius under which India will impose capital gains tax on

investments routed through the Mauritius from April 1 next year

in a bid to curb tax evasion.

IMD to soon decide on forecasting model

The Union Ministry of Earth Sciences (MoES) announced that

India Meteorological Department (IMD) will use supercomputer

to forecast India’s annual summer monsoon. he forecast made

by a supercomputer will be based on a dynamical monsoon

model. It will be operational from 2017.

India, U.S. Discover Major Natural Gas Reserve in Indian Ocean A joint expedition by India & the U.S. discovered a major deposit

of natural gas in the Indian Ocean, offering the potential to

si nificantly e pand ener y production in a re ion that’s

currently a big importer.

Nadda inaugurates AMRIT outlet at Safdarjung hospital Union Health Minister J.P. Nadda has inaugurated an AMRIT pharmacy at the city-based Safdarjung hospital. The new AMRIT (Affordable Medicines & Reliable Implants for Treatment) Pharmacy will sell drugs at highly discounted rates.

Indian Railways announces ‘Antyodaya Express’ for unreserved passengers The Railway Minister announced the Antyodaya Express, a long-

distance, fully unreserved, superfast train service, & also to add

two to four Deen Dayalu coaches in some long distance trains

for unreserved travel to enhance the carrying capacity for the

general public.

SC lifts ban on big diesel cars & SUVs; levies 1% environment cess The Supreme Court has allowed the sale of diesel cars & SUVs with engine capacity of 2,000cc or more in Delhi & the NCR on payment of 1% ex-showroom cost as environment levy.

India's first touch-and-feel garden for visually impaired A first-of-its-kind touch & feel garden for the visually impaired

people in the country was inaugurated near Calicut University

campus by Kerala Assembly Speaker P Sreeramakrishnan. The

garden has nearly 70 aromatic, medicinal & herbal plants.

RS appoints 10 MPs to joint panel on Citizenship (Amendment) Bill Rajya Sabha has named 10 of its members to the Joint Committee of Parliament on the Citizenship (Amendment) Bill, 2016. A resolution moved by Minister of State for Home Affairs Hansraj Gangaram Ahir, on behalf of Home Minister Rajnath



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Singh. The draft bill seeks to help migrants of reportedly all denominations – except Muslims – from the neighboring countries of Afghanistan, Pakistan, & Bangladesh in getting Indian citizenships after a stay of six years.

Rs. 1491 crores sanctioned by Govt for building houses in Karnataka, Haryana for urban poor Ministry of Housing & Urban Poverty Alleviation has approved

construction of 37,013 cr. houses for urban poor in the States of

Karnataka & Haryana with an investment of Rs.1,491 cr. An

inter-ministerial Central Sanctioning & Monitoring Committee

chaired by Dr.Nandita Mukherjee, Secretary(HUPA) has

approved this.

Govt spent over Rs 6,500 crore on Swachh Bharat in 2015-16 The government has spent over Rs 6,500 crore to fulfil PM

Narendra Modi's flagship Swachh Bharat Mission - Gramin &

government had allocated Rs 6,525 crore for the scheme. The

government aims to achieve 'Swachh Bharat' by October 2,

2019.

Cabinet approves Agreement between the India & Croatia on Economic Cooperation The Union Cabinet chaired by the PM Shri Narendra Modi has

given its approval for signing & ratification of an Agreement

between India & Croatia on Economic Cooperation.

CCTNS to be operationalised by March 31 next year: Govt The ambitious Crime & Criminal Tracking Networks & System

(CCTNS) project will be operationalised by 31st of March next

year. The project aims to connect all police stations in the

country with the objective of tracking crime & criminals related

data on real time.

Maneka Gandhi kicks off campaign to mark 11 August as Daughters' Day The Ministry of Women & Child Development has launched a

social media campaign to mark the Daughters Day to be

celebrated on 11th August 2016 by tweeting a picture with her

daughter-in-law & grand-daughter.

PM Modi, Russian Prez Vladimir Putin to jointly dedicate Kudankulam Nuclear Plant Unit-I The first unit of Kudankulam Nuclear Power Plant will be jointly dedicated to the nation by Tamil Nadu CM Jayalalithaa, PM Narendra Modi & Russian President Vladimir Putin through video conferencing.

Rs. 100 crores allotted in 16 states & 1 union territory for FMD control programme In order to prevent economic losses due to Foot & Mouth

isease a location specific pro ramme called ‘Foot & Mouth

Disease Control Programme (FMD-C )’ is under implementation

since 10th plan period. Gradually FMD-CP was expanded during

11th & 12th Plan Period. Thus, as of now, it covers 351 Districts

in 13 States & 6 Union Territories.

Country gets its first tiger repository he ildlife Institute of India ( II) ill house the India’s first

repository on tigers, under its new Tiger Cell. The new Tiger Cell

will assist in population assessment of tigers, law enforcement,

wildlife forensics, infrastructural development & mitigation,

smart patrolling & advisory role in policy formulation. It will be

funded by the National Tiger Conservation Authority (NTCA).

Modi Launches PMO App At MyGov Anniversary Event PM Narendra Modi has launched the new PMO app at a function

organised by MyGov in New Delhi. The app would correspond to

the website of the PM’s Office ( MO).

Naidu launches Swachh Survekshan for 500 cities Union Urban Development Minister Venkaiah Naidu has

launched Swachh Survekshan-2017 for 500 cities in the country

with an idea to make competitive environment to make the

cities clean.

Government has proposed setting up of 4 major ports The Minister of State for Shipping Pon Radhakrishnan has stated

that the Government has proposed four new major ports to be

set up. These ports will be set up at Enayam in Tamil Nadu, Sagar

in West Bengal, Dugarajpatnam in Andhra Pradesh & Vadhawan

in Maharashtra. & for setting up of Enayam Port in Tamil Nadu,

Cabinet has also approved.

CCEA approves new formula to pay production subsidy to sugar mills The Cabinet Committee on Economic Affairs (CCEA) has

approved a new formula to calculate production subsidy to

sugar mills for the ongoing 2015-16 season after taking into

account lower sugar production & exports.

Six New IITS Get Parliament Nod The Parliament has approved the establishment of six new IITs

across the country by passing the Institutes of Technology

(Amendment) Bill, 2016 in the Rajya Sabha. IITs will also be

started in Palakkad (Kerala), Goa, Dharward (Karnataka), Bhilai

(Chhattisgarh), Jammu & Tirupati (Andhra Pradesh).

‘Twitter Sewa’ launched to address comman man’s concerns Hon’ble Minister of Communications Sh. Manoj Sinha has launched “ itter Se a” for addressin the complaints &



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concerns of common man & other stake-holders in the telecom & postal sectors.

Central body approves Rs 400 crore for Ganga rejuvenation projects A high-level panel of the National Ganga River Basin Authority

(NGRBA) has approved various projects worth approximately Rs

400 crore for development of ghats (river fronts) & crematoria

at different places along the river Ganga from Uttarakhand to

West Bengal under the Namami Gange programme.

Javadekar inaugurates IIT Goa temporary campus Prakash Javdekar, Union Minister of Human Resource

Development inaugurated Indian Institute of Technology (IIT) in

Goa & he also laid the foundation stone for IIT Goa students'

hostel. It will function from temporary campus at Goa

Engineering College, Farmagudi.

IRCTC to launch travel insurance facility at Re 1 The Indian Railway Catering & Tourism Corporation (IRCTC) is set to launch the facility of travel insurance for passengers who book tickets on its website. The service, scheduled to come into effect from September, can be availed at a premium of Re 1. According to IRCTC, the scheme offers passengers or their families compensation of up to Rs 10 lakh in the event of death or permanent total disability, Rs 7.5 lakh for permanent partial disability, up to Rs 2 lakh for hospitalisation expenses.

Suresh Prabhu flags off Agartala-Delhi train 'Tripura Sundari Express' Union Railways Minister Suresh Prabhu flagged off between

Agartala-Delhi train 'Tripura Sundari Express' in the presence

Bangladesh Railways Minister Md. Mazibul Hoque.

Centre to organise ‘Make in India’ conference in Bhubaneswar Centre has decided to organise a Make in India conference in

Bhubaneswar in December this year. The conference would be

organised by the Department of Industrial Policy & Promotion

(DIPP) under the Ministry of Commerce & Industry to attract

investment in the state as well as the country.

Centre sanctions nearly Rs. 620 crore to UP as drought assistance Centre has sanctioned nearly Rs. 620 crore to Uttar Pradesh as

assistance for the recent drought situation in the state. It also

approved almost 80 crores for Rajasthan which was affected by

hailstorm & 15 crores to Manipur affected by earthquake.

Parliament passes bill for afforestation fund Rajya Sabha has passed the ‘Compensatory fforestation Fund Bill’ hich see s to unloc more than Rs. 4 crore earmarked for afforestation works. The passing of the

Compensatory Afforestation Fund Management & Planning Authority (CAMPA) Bill will lead to setting the process to unlock Rs. 42,000 crore to be utilised by the States for afforestation.

Government forms 'Disha' for timely implementation of Central Schemes The Centre has announced the formation of District

Development Coordination & Monitoring Committee (DDCMC)

in place of the District Vigilance & Monitoring Committee

(DVMC) & to be named Disha for effective implementation of

Central government schemes.

Union Cabinet Approvals a) The Union Cabinet, chaired by PM Narendra Modi has decided to rescind the earlier decision of the Government to set up the Concurrent Evaluation Office (CEO) for managing Concurrent Evaluation Network (CENET) in Ministry of Rural Development. b) The Union Cabinet has approved the amendment in relevant clauses of the Central Agricultural University Act (CAU), 1992 to include State of Nagaland under the jurisdiction of CAU, Imphal. c) The Union Cabinet has also approved abolition of existing

“Guidelines for establishin Joint Venture Companies by efence

ublic SectorUnderta in s ( SUs)”.

Centre Approves Rs. 1601 Crore For Skill Development Programme The Union Government has approved nearly 1600 crore rupees for Jammu & Kashmir under skill development initiative 'Himayat'. Under it, youths from both rural & urban areas of J&K would be imparted with training in various job-intensive vocational courses over the next three years. Himayat is a placement linked skill development initiative for training & placement of 1 lakh youths from J&K in next 5 years.

7th Pay Commission to be implemented from August The Centre has published the implementation notification of the

7th Pay Commission, stating that central government employees

will get the revised pay from August. As the Commission had

recommended a 23.55 percent overall hike in salaries,

allowances & pension involving an additional burden of Rs 1.02

lakh crore, or nearly 0.7 percent of GDP.

Solar power tree developed for generation of electricity The Ministry of Science & Technology has come up with a 'Solar

Power Tree', an innovative way to generate electricity using

solar power in a limited space. Developed by the Central

Mechanical Engineering Research Institute (CMERI), Durgapur, a

laboratory of the Council for Scientific & Industrial Research.

Railway starts CCTV surveillance under Nirbhaya fund Close Circuit Television Cameras (CCTV), also known as video

surveillance were provided at 344 railway stations over Indian



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Railways. Railways have further planned to install Video

Surveillance System (VSS) at 1000 stations under Nirbhaya Fund.

Total estimated cost of VSS chargeable to Nirbhaya Fund stands

at Rs. 500 crore.

Government forms committee to prepare ‘Draft Ganga Act’ Ministry of Water Resources, River Development & Ganga

Rejuvenation constituted a committee to prepare Draft Ganga

Act. The Committee has been asked to prepare a Draft Act on

Ganga ensuring wholesomeness of the River. Justice Girdhar

Malviya (Retd.) is the Chairman of the committee.

PM Modi to lay foundation stone of AIIMS in Gorakhpur, UP PM Narendra Modi will lay the foundation stone of All India

Institute Of Medical Sciences (AIIMS) & revival of fertilizer

factory which was closed for the last three decades in Gorakhpur

district of Uttar Pradesh today.

ECI Launches“National Electoral Roll Purification” The Election Commission of India announced the launch of

National Electoral Roll Purification (NERP) 2016 programme

across the country.The programme was launched to improve

health of Electoral Rolls (ERs) & to optimize the Polling Station

(PS) location & area across the country.The motto of ECI for the

year 2016 is No voter to be left behind.

Cabinet approves construction of New Dry Dock of Cochin Shipyard Limited CCEA gave its approval for construction of a new dry dock within

the existing premises of Cochin Shipyard Limited (CSL) at an

estimated cost of Rs.1799 crore to augment the shipbuilding /

repair capacity of the country.

Govt approves projects of Rs. 275 cr to develop Krishna & Heritage circuit To boost tourism across the nation, the Ministry of Tourism has

approved project worth Rs. 275 Crore for development of

Krishna & Heritage circuit of State of Haryana, Rajasthan &

Gujarat under the Swadesh Darshan Scheme.

STATES IN NEWS

Andhra Pradesh police launches pilot project on DNA profiling Andhra Pradesh Police has launched DNA Index System (DIS),

the first-of-its-kind initiative that allows generation of DNA

profiles from live samples like saliva & blood stains.

Kerala Cabinet approves new debt relief scheme Kerala has approved a new debt relief scheme for low income &

poor people who face the threat of revenue recovery

proceedings after they fail to repay loans taken from various

financial institutions under the government.

Kerala allots Rs 10,000 cr for government schools Kerala Finance Minister Thomas Issac has earmarked Rs 10,000

crore ($1.5 billion) for state-run & aided schools for the five-year

term of the Communist Party of India-Marxist (CPI-M) led Left

Democratic Front government.

Tata Power Solar commissions 100 mw project in Andhra Tata Power Solar has commissioned a 100 mw solar project for NTPC in Anantapur, Andhra Pradesh, the biggest solar project commissioned using domestically manufactured solar cells & modules.

Odisha govt makes Aadhaar Card mandatory for paddy procurement The Odisha government has decided to make Aadhaar card mandatory for procurement of paddy in the state.This apart, the government has also decided to link Aadhaar numbers of beneficiaries for availing ration under NFSA & work under MGNREGA.

CM Nitish Kumar to launch student credit card scheme on October 2 Bihar CM Nitish Kumar announced a bunch of development projects & schemes re ardin the “seven resolves” adopted by his government for the next five years. Nitish Kumar announced the launch of Student Credit Card scheme from October 2 & this scheme promises Rs. four lakh interest-free loan to students for pursuing higher education.

Assam Assembly passed the Assam Amusements & Betting Tax (Amendment) Bill, 2016. Assam Assembly has passed the Assam Amusements & Betting

Tax (Amendment) Bill, 2016, reducing the service charge of

cinema tickets with an aim to give a fillip to the local film

industry. As per this bill, the government proposed to make

service charge Rs 8 per ticket for the halls without air

conditioning system & Rs 12 for the halls with air conditioning

system with back-up generator.

Badal inaugurates first 'Sewa Kendra' in Punjab Punjab CM ar ash Sin h Badal has inau urated city’s first Se a

Kendra at Ladhewali where people will be able to avail all the

services under one roof.

First phase of Muskan-II brings 1051 kids home The Operation Muskan 2 started by Odisha Crime Branch successfully rescued 1,051 missing children from various places across the state, in its first phase. The main objective is to Rescue & Rehabilitation of the missing children & integrating the



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activities with Child protection activities in the state.

IRCTC signs MoU with Manipur govt to provide hospitality & tourism services IRCTC & the Manipur government have signed a MoU, which seeks to provide improved hospitality & tourism services to their customers by making 'joint use of their capabilities & facilities'.

First Solar commissions 130 MW of solar power plants in AP, Telangana The local subsidiary of the Nasdaq-listed First Solar, First Solar Power India, has announced the commercial operation of 80 MW & 50 MW solar power plants in Andhra Pradesh & Telangana. The projects are part of the 260 MW project portfolio owned by First Solar in India.

Jayalalithaa announces Rs 4126 crore worth schemes in energy sector Tamil Nadu (TN) CM J Jayalalithaa has announced Rs 4126 crore worth schemes in the energy sector, including setting up of a 2x1500 MVA sub-station in Virudhunagar to transmit power generated from a 1600 mw power plant coming up in Ramanathapuram.

Himachal Pradesh to plant one crore saplings to increase green cover Himachal Pradesh government has set a target of planting over

one crore saplings this year to increase the depleting green

cover in the state. The state has set a target of planting one

crore saplings on 15,000 hectares of forest land by spending Rs

150 crore.

Union Minister Prakash Javadekar inaugurates Chhattisgarh’s first IIT Union HRD Minister Prakash Javadekar has inaugurated the

Indian Institute of Technology (IIT) - Raipur on the Government

Engineering College campus & interacted with children from the

Maoist-affected areas of Chhattisgarh.

Railways, Chhattisgarh govt. ink agreement for formation of JV The Ministry of Railways has signed an agreement with the Chhattisgarh government for formation of a joint venture (JV) company for focused resource mobilisation, implementation & monitoring of critical rail projects. The agreement was signed in the presence of Railway Minister Suresh Prabhu & CM Raman Singh.

Maharashtra Govt. to provide as many as 1,200 wi-fi hotspots in Mumbai CM of Maharastra Government Mr. Devendra Fadnavis has stated that Maharashtra government will provide as many as 1,200 wi-fi hotspots in the megapolis as a part of transforming Mumbai into a Smart City.

Javadekar to inaugurate transit campus of IIT in Jammu Union Minister for Human Resource & Development Prakash

Javadekar will inaugurate the transit campus of Indian Institute

of Technology (IIT) at village Jagti, Tehsil Nagrota in Jammu.

Odisha opens 100 new multi-purpose calamity shelter units CM Naveen Patnaik has dedicated 100 multi-purpose shelter

houses to the people of Odisha for use during floods & cyclones

with an aim to ensure zero casualties during calamities. These

100 multi-purpose calamity shelter units have been inaugurated

by the CM across 17 districts.

Telangana, AP set to launch an awareness campaign against ISIS Telangana & Andhra Pradesh state minorities commission is all

set to release an awareness campaign against ISIS by getting on

board Imams of a large number of mosques across the two

states to thwart the attempts of the terror group to lure youths.

West Bengal to Change Name to Banga or Bangla, Mamata Govt Gives Nod The Mamata Banerjee cabinet today gave a nod to change West

Bengal's name to 'Bengal' in English & State will be named either

'Banga' or 'Bangla' in Bengali.

Odisha government to recruit transgenders as jail warders The Odisha government has decided to recruit members of

transgender community persons as warders in jails of the State

as per the directive of the Supreme Court. The home

department has issued instructions to the Odisha Sub-ordinate

Staff Selection Commission (OSSC) to include the gender

category.

Resolution for renaming of Madras High Court passed The Tamil Nadu Assembly has passed a unanimous resolution

that the Madras High Court be renamed as Tamil Nadu High

Court & not as High Court of Chennai as proposed by the Centre,

with CM J Jayalalithaa knocking on the Modi government's doors

with the proposal.

WB tourism department launches app West Bengal Tourism Department has launched a mobile app

based on the theme of "Experience Bengal" aiming to attract the

travelers across the world. Alongside information on places of

tourist interest, the app would be loaded with other facilities like

maps & directions.

Gujarat govt selects Infibeam for e-com training programme he Gujarat overnment’s Centre for Entrepreneurship

Development (CED) has selected the Ahmedabad-based e-



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commerce company Infibeam as knowledge partner for its e-

commerce training & development programme,aimed at

grooming budding entrepreneurs & individuals to set up their

businesses.

BHEL commissions 40 mw hydropower units in West Bengal Bharat Heavy Electricals Limited (BHEL) successfully commissioned the third unit of the 4x40 MW Teesta Low Dam Hydro Electric Project (HEP) Stage-IV in West Bengal. A run-of-the-river greenfield project located in Darjeeling district of West Bengal(WB), Teesta HEP is being set up by National Hydroelectric Power Corporation (NHPC), on the River Teesta.

Cabinet approves setting up of new AIIMS in Bhatinda The Cabinet approved the establishment of a new AIIMS at Bhatinda in Punjab under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY). The institution shall have a hospital with a capacity of 750 beds which will include emergency/trauma Beds & AYUSH Beds, private beds & ICU Speciality & Super Speciality beds.

Kerala Government forms advisory body The Kerala State Government has constituted a State Technical

Advisory Group on Immunisation (STAGI) for advising it on

policies & practices to be adopted & implementation of the

National Immunisation Programme. The advisory group will have

the Director of Health Service as the chairman & the Director of

Medical Education as co-chairman.

Rs 60 lakh bonanza for 6 Rio qualifiers from Odisha CM Naveen Patnaik has announced Rs 60 lakh cash special incentive for six sportswomen of the state, who have qualified for the Rio Olympics. The six sportspersons—sprinters Dutee Chand & Srabani Nanda & four hockey players Deep Grace Ekka, Namita Toppo, Lilima Minz & Sunita Lakra—would receive Rs 10 lakh each.

Manipur becomes fourteenth State to join ‘UDAY’ Manipur has joined the Ujwal DISCOM (distribution company)

Assurance Yojana (UDAY) scheme meant for revival of debt-

stressed power distribution utilities & will get benefits of around

Rs 263 crore. Manipur is the 14th state to join the UDAY.

Odisha approves 3 investment projects worth Rs 874 cr. The Odisha government has approved 3 projects involving

investment of nearly 870 crore rupees. The decision was taken

at the state level single window clearance authority meeting.

Karnataka opens dedicated start-up cell The Government of Karnataka has set-up a dedicated start-up cell for speeding up the implementation of the initiatives under its start-up policy & its IT minister Priyank Kharge. This is the first

time in India that a government has come up with a dedicated Start-up Cell guided by the Start-up Policy. Rajasthan planned to double farmers’ income in six years In an attempt to double the income of farmers by 2022, the Rajasthan government plans to bring in latest technological innovation & introduce best farming practices by inviting experts to Global Rajasthan Agritech Meet (GRAM) in Jaipur from November 9 to 11.

Maharashtra CM launches pilot project of e-complaint system Maharashtra CM Devendra Fadnavis has launched a pilot project

of e-complaint system on an experimental basis in Pune. With

the help of this system, citizens can now register a police

complaint online at any city police station from anywhere.

First green rail corridor opens in Tamil Nadu Railway Minister Suresh Prabhu has inaugurated 114-km long Rameswaram-Manmadurai route in Tamil Nadu as the country's first green rail corridor with zero toilet discharge section.

Kerala Government launches first ever Water Metro project in the country Kerala Government has launched Kochi Water Metro project, the first ever Water Metro project of the country. It was launched by Kerala CM Pinarayi Vijayan at Kochi, Kerala. The project aims to provide water connectivity to people living between islands in the Kochi agglomeration area & the city.

Foundation stone laid for MSME technology center in Visakhapatnam Andhra Pradesh CM N Chandrababu Naidu, along with Union Ministers Kalraj Mishra & Venkaiah Naidu have laid the foundation stone for a Ministry of Micro, Small & Medium Enterprises technology centre under Technology Centre Systems Programme (TCSP) at Pudi in Visakhapatnam district.Its main focus is to support industries, particularly MSMEs. The programme is funded by the World Bank & the government of India.

Uttarakhand govt finalises site for installation of Thiruvalluvar’s statue Uttarakhand government has decided to install the statue of

Tamil saint-poet hiruvalluvar in the la ns of Harid ar’s Mela

Bhawan on the bank of the Ganga.

Judicial panel to set Puri temple in order The Odisha Government has constituted a one-man judicial

commission to suggest reforms in its management.The

commission will be headed by retired judge of Orissa High Court

Justice BP Das.

Madras Crocodile Bank Trust open The Madras Crocodile Bank Trust & Centre for Herpetology



15

opened its doors for the public. Started in 1976, the crocodile bank has grown from a place that had only a trickle of visitors, to one of the main attractions of tourists who come to Chennai.

BANKS IN NEWS

Federal Bank to use Chillr app Federal Bank has partnered with Chillr, a mobile banking

application that connects directly to a person’s ban account &

enables instant money transfers, bill payments, phone recharge

& e-commerce payments in a very secure environment.

ICICI Bank unveils new ‘smart keys’ mobile app ICICI Bank has launched a payment service using a smartphone eyboard named ‘iMobile Smart eys’. With this, Users will be able to make quick & secure payments on any mobile application, including chat, messenger, email, games or search browser, without having to exit their current application on their smartphone.

Doha Bank opens first branch in Kerala Doha Bank QSC, one of the prominent banks in Qatar, is formally

inaugurating its 1st branch in Kerala. It will be formally

inaugurated by the State CM Pinarayi Vijayan. Doha Bank is one

of the largest commercial banks in the State of Qatar.

Federal Bank starts distributing MMTC gold coins Federal Bank has become the first private sector bank to start

distributing gold coins made by government-controlled Metals &

Minerals Trading Corporation of India (MMTCI). The Indian gold

coins are of 24 karat purity, 999 fineness & has the National

Emblem of Ashok Chakra engraved on one side & the face of

Mahatma Gandhi as in currency notes on the other.

SBI approves merger with associates The board of country's largest lender, State Bank of India (SBI)

has approved share swap ratio to merge 5 associate banks &

Bharatiya Mahila Bank (BMB) with itself. In the swap ratio an

acquiring company will offer its own shares in exchange for the

target company's shares during a merger or acquisition.

South Indian Bank, SBI Card to launch co-branded credit card Kochi Based leading private sector Lender South Indian Bank, leading private sector bank, & SBI Card, one of India's leading Credit Card issuers, announced the launch of co-branded credit cards for the customers of South Indian Bank.

RBI imposes penalty on four cooperative banks The Reserve Bank of India (RBI) has imposed penalties of up to Rs 5 lakh on 4 cooperative banks for violation of various norms. The central bank has imposed a monetary penalty of Rs 5 lakh

on The Co-operative City Bank, Guwahati, Rs 2 lakh penalty on Indapur Urban Co-operative Bank, in Pune, Rs 1 lakh penalty on Shri Dadasaheb Gajmal Co-operative Bank & The Model Cooperative Urban Bank, Hyderabad, Telangana.

UBI launches USSD based mobile app for basic banking needs with NPCI NPCI ties up with Union Bank of India to launch an USSD based

*99#mobile application for their customers. This application can

be used even without any internet connection as it does not

require any data.

S&P BSE Liquid Rate Index launched Asia Index, a joint venture (JV) between S&P Dow Jones Indices

& BSE has launched a new index to measure the performance of

Collateralized Borrowing & Lending Obligation (CBLO) rate - one

of most liquid rates in the country.

E-verifying without net banking: More banks to follow PNB,UBI After Punjab National Bank & United Bank of India, more banks

are likely to soon start a facility wherein an account holder can

verify his income tax return on e-filing site even without having

netbanking. Electronic Verification Code (EVC) can be generated

by pre-validating the bank account on the e-filing portal of the

Income Tax Department.

Syndicate Bank launches Project Ananya aimed at digital banking Syndicate Bank has launched a program called "Project Ananya"

that focuses on improved customer service & offering latest in

digital banking services. The bank plans to transform 10 % of its

branches to the new format in the next 6-12 months. The first

Ananya branch was opened by MD & CEO Arun Srivastava.

SBI, Korea Development Bank join hands for biz opportunities The Country's largest public sector lender State bank of India &

Korea Development Bank have signed an MoU to enhance

business synergies. The agreement outlines the plan to enhance

cooperation in areas including corporate finance, project finance

& asset finance.

Flipkart now on Kotak Mahindra Bank's mobile banking app Kotak Mahindra Bank (KMB) has announced the availability of

Flip art’s mobile site in its mobile ban in app to ives the

customer a secure in-app shopping environment.

HDFC board gives green signal to HDFC Life-Max merger The HDFC board has approved the merger of Max Life & Max

Financial Services with its insurance arm HDFC Standard Life

Insurance. The total premium of the merged entity of HDFC Life-

Max is expected to be Rs.26,000 crore. It will create the biggest



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public sector life insurer.

RBI imposes penalty on two cooperative banks of Chhattisgarh Reserve Bank has imposed the penalty of 5 Lakhs on two cooperative banks of Chhattisgarh Zila Sahakari Kendriya Bank Maryadit, Raipur, & Raipur Urban Mercantile Cooperative Bank Limited under the Banking Regulation Act, 1949. Corporation Bank launches group credit life insurance scheme Corporation Ban has launched ‘ roup credit life insurance

scheme’ of LIC of India in Man aluru. It has been launched by

the Jai Kumar Garg, MD & CEO of Corporation Bank. The scheme

is available to customers in the age group of 18-60 years who

have taken term loan from the bank.

RBI constitutes a Committee on Household Finance RBI has set up a committee to look at the various facets of

household finance in India & to benchmar India’s position vis-à-

vis both the peer countries & advanced countries. The

Committee will be chaired by Dr. Tarun Ramadorai.

RBI launches new website ’Sachet’ RBI Governor Raghuram Rajan has launched ’Sachet- .sachet.rbi.or .in’ a eb portal to curb ille al collection of deposits. This will allow members of public to obtain information regarding entities that are allowed to accept deposits, lodge complaints & also share information regarding illegal acceptance of deposits by unscrupulous entities.

SBI launches cheaper home loan schemes for beneficiaries under 7th Pay Commission State Bank of India (SBI) has launched 2 new schemes of loans

for the employees of central as well as state government, public

sector undertaking employees & Defence personnel. According

to new schemes borrowers will enjoy cheaper interest rates &

government employees with installment tenure extending up to

75 years of a e. he ban has introduced ‘ rivile e Home Loan’

for government employees & ‘Shaurya Home Loan’ for efence

Personnel with pensionable service. The interest rates will be

0.05 % less than current interest rates on home loans.

ICICI Bank reduces MCLR by 0.05% ICICI Bank announced a 0.05% reduction in its marginal cost of

funds based lending rate (MCLR). The overnight MCLR will be

8.90% under the revised rate structure. The one-year MCLR, to

which the home loans are linked, has moved down to 9.10%.

ICICI Bank ties up with Apollo India to form ARC ICICI Bank has inked an MoU with Apollo India Credit Opportunity Management LLC & AION Capital Management to set up an asset reconstruction company. The MoU is subject to regulatory approvals, acquisition of debt exposures from lenders

& equity stakes in companies.

Supporting Sri Lanka's Economic Reforms with $100 Million The World Bank Board has approved a $100 million credit from

the International Development Association (IDA)to support the

Government of Sri Lanka's economic reform program.

Exim Bank raises USD 1 billion from overseas bonds EXIM Bank announced raising of USD 1 billion (about Rs 6,700

crore) by selling bonds to overseas investors. This was the

largest issuance ever for Exim Bank & also the largest single

tranche issuance out of India in 2016.

OKI installs more than 600 recycling ATMs for State Bank of India Japanese payments company OKI has installed 600 automatic teller machines with cash recycling abilities for country's largest lender State Bank of India across the country. The payments company OKI has manufacturing of ATM business in India which works with recyclable cash & has both cash acceptance mechanism along with cash dispensing in their teller machines.

SBI Launches Debit Card-Less Instant Money Transfer Facility State Bank of India has launched a payment system at its ATMs

which will allow the account holders to transfer the money by

using the mobile phone number as an identifier. This payment

facility system works on instant money transfer (IMT) platform.

It will enable a payment of up to Rs 10,000 from any SBI bank

account.

RBI imposes Rs. 27 crore penalty on 13 banks The Reserve Bank of India (RBI) has imposed 27 crore rupees

penalty on 13 public & private sector banks for violations of

Foreign Exchange Management (FEMA) Act (Anti-money

laundering) & lapses in Know your customer (KYC) rules. The

banks include Bank of Baroda for Rs 5 crore, Punjab National

Bank, & Syndicate Bank have been fined Rs 3 crore each.

ICICI, Axis bank join Swift's global payments initiative ICICI Bank & Axis Bank are the first Indian banks to sign up for

S ift’s lobal payments innovation initiative. he initiative

already has over 70 other leading banks globally which aims to

“enhance” cross-border payments.

ICICI Bank organises Coin Exchange Mela during the 'Ratha Yatra' festival in Puri ICICI Bank Ltd has organised a coin exchange mela during the

'Rath Yatra' festival at the RBI financial literacy camp in

Bholanath Vidyapith. The mela took place under the guidance of

the Reserve Bank of India. S. P. Mohanty, General Manager,

Issue Department of RBI, inaugurated the event.



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Karnataka Bank’s solar initiative for rural students arnata a Ban Ltd has initiated a pro ramme named ‘solar li ht scholarship’ to provide solar li hts in the non-electrified houses of students in rural areas. Till now, 100 houses of the students from remote rural areas of Udupi district have been provided solar lights under this programme. NDB announces loans worth 900 million dollars The New Development Bank announced its first round of loans

worth about 900 million dollars. The Bank held its first general

meeting in Shanghai. Brazil, Russia, India, China & South Africa

established the institution last year.

Govt allocates Rs 22,915 cr capital to 13 PSU banks for FY17 The Narendra Modi government has allocated Rs 22,915 crore capital to meet the capitalization needs of 13 Public Sector Banks (PSBs) in the current fiscal. This is in line with its Indradhanush initiative, aimed at restoring banking sector health.The maximum capital infusion will be for State Bank of India (SBI) at Rs 7,575 crore & the least for Allahabad Bank at Rs 44 crore.

ECONOMY NEWS

Jharkhand becomes third state to pass the Constitutional Amendment bill on GST Jharkhand has passed the Constitutional Amendment Bill on

Goods & Services Tax (GST) passed by both Houses of Parliament

recently. Now Jharkhand became the third state to ratify the bill.

Cabinet raises FDI limit threefold to 15% in stock exchanges The Union Cabinet has approved raising of the foreign

shareholding limit to 15 per cent from the existing five per cent

in Indian stock exchanges.

India receives $5.34 billion FDI in April-May India received $ 5.34 billion foreign direct investment in the first

two months of current financial year. During April-May India

attracted $ 4.76 billion FDI under automatic route.

No Rail Budget from next fiscal The 92-year-old practice of presenting a separate Rail Budget is

set to come to an end from the next fiscal, with the Finance

Ministry accepting Rail ay Minister Suresh rabhu’s proposal to

merge it with the General Budget.

Assam becomes the first state to ratify GST Assam has become the first state to ratify the Goods & Services

Tax (GST) constitution amendment Bill. At least 50 % of the

states have to pass what is technically the Constitution (One

Hundred & Twenty-Second Amendment) Bill, 2014, for the next

steps of legislative action to follow, to ultimately introduce pan-

India Goods & Services Tax regime.

NABARD sanctions Rs 26.06 crore to Punjab National Bank for Agriculture & Rural Development sanctioned

Rs 26.06 crore to the Punjab government. The fund has been

sanctioned for tackling waterlogging by constructing lift schemes

in low-lying areas, village ponds & other allied works.

RBI transfers Rs 65,876 crore surplus to government The Reserve Bank will transfer to the central government its surplus profit of Rs 65,876 crore which is marginally lower than the amount given last year. The approval to transfer the surplus was taken at the 559th meeting of the Central Board of the RBI, chaired by Governor Raghuram Rajan.

IRDAI Slaps Rs 35 Lakh Fine On Bharti AXA General Insurance Insurance watchdog, IRDAI has imposed Rs 35 lakh fine on Bharti AXA General Insurance Co Ltd for violation of various norms including outsourcing activities & corporate governance guidelines. The fine is based on violation related with an inspection finding during December 2012 to March 2013.

Gold bond scheme sees record Rs. 919cr in 4th tranche The government's collections under the Sovereign Gold Bond

scheme realised through the fourth tranche reached around Rs.

919 crore, the highest achieved yet. With issue price fixed at Rs.

3,119 per gram, the amount was mobilised through over 1.95

lakh applications representing around 2.95 tonnes of gold.

SEBI's first phase of new enterprise portal goes live Markets regulator Securities & Exchange Board of India (SEBI)

has initiated the first phase of its new enterprise portal to

facilitate accurate & timely circulation of information to internal

& external stakeholders. The portal, developed by IT firm Tech

Mahindra.

BUSINESS NEWS

AskMe shuts down The consumer internet search platform AskMe has shut down its

operations, laying off remaining of its staff. The company

probably took the decision because of the severe cash crunch.

Unilever acquires Blueair Unilever, the parent company of Hindustan Unilever (HUL), has

acquired Swedish firm Blueair, a leading player in mobile air

purification technology. With this deal, Unilever is making its

foray in air purification.



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BHEL bags Rs 169 crore order for solar photovoltaic power plant BHEL has secured an order to set up solar photovoltaic (SPV)

plants, estimated to cost Rs 169 crore. The engineering,

procurement & construction (EPC) order has been placed by

West Bengal State Electricity Distribution Corporation Ltd.

L&T bags contract to convert Nagpur into integrated smart city Larsen & Toubro (L&T) has been identified as Implementation Partner to convert Nagpur, the Orange City, into the country's first large-scale integrated Smart City as per a Letter of Intent that was handed over in the auspicious presence of the Hon'ble CM of Maharashtra, Devendra Fadnavis.

Tata AutoComp to acquire TitanX Tata AutoComp Systems, the Tata Group-owned auto-

component conglomerate, will acquire TitanX, a leading global

engine cooling supplier. It is currently owned by EQT

Opportunity & Fourier transform.

Times Internet partners HDFC Bank to launch co-branded Debit Card Times Internet in partnership with HDFC Bank, announced the

launch of a co-branded card called the Times Points Debit Card.

This is the second co-branded card launched by Times Internet

with HDFC Bank.

Microsoft acquires gaming startup Beam Microsoft has acquired Beam, an interactive live streaming

startup that lets viewers watch & play along with game

streamers in real time.

Manipal Technologies acquires CrossFraud detection solution from Bengaluru Company Manipal Technologies Ltd (MTL), which is a secure print solutions organization has acquired CrossFraud - an advanced fraud detection & anti-money laundering solution from Bengaluru-based Saraansh Software Solutions Pvt. Ltd.

Gamesa bags contract for KCT Renewable's 40 MW wind energy project Wind turbine maker Gamesa has bagged an order from KCT

Renewable Energy Pvt Ltd for a 40 MW wind power project

located at Molagavalli site in Andhra Pradesh (AP).

Hindustan Copper Limited inaugurates country's first facility to produce nickel Hindustan Copper Limited (HCL) has inaugurated the country's

first facility to produce nickel, a metal for which the country is

completely dependent on imports. The new facility - Nickel,

Copper & Acid Recovery Plant is located at the company's Indian

Copper Complex (ICC) at Ghatshila in Jharkhand.

Aditya Birla Nuvo & Grasim to merge, creating Rs. 60,000-crore behemoth The Aditya Birla Group has announced a plan to merge Aditya Birla Nuvo Ltd (ABNL) with Grasim Industries to create an entity with combined revenue of Rs. 60,000 crore.

Apple buys Turi machine-learning startup for a reported $200m Apple announced the purchase of US based machine-learning

startup Turi for $200m to boost artificial intelligence. The new

purchase will help Apple to strengthen its platform that

facilitates data scientists & application developers to create

intelligent applications.

IKEA lays the foundation for its first store in India at Hyderabad Ikea, a global leader in retail furniture, has laid the foundation

for its first store in India in Hyderabad. The store is expected to

open somewhere in July–August next year.

Monster gets eaten up for $429Mn by Randstad Holding Dutch based human resources services provider Randstad has

acquired US-based job portal Monster Worldwide Inc for $429

million in all cash deal.

Intel buys AI startup Nervana Systems run by Indian-origin entrepreneur Intel has acquired California-based deep learning startup

Nervana Systems, allowing the the chip maker to foray into the

world of Artificial Intelligence (AI). This will help develop Intel's

artificial intelligence portfolio & enhance the deep learning

performance of Intel Xeon & Intel Xeon Phi processors.

Tata Chemicals sells urea business to Yara for Rs 2670 Crore Tata Chemicals has stated that it has sold its urea business to

Yara Fertiliser for Rs 2670 crore as a part of value unlocking by

the company.

Teva acquires US-based drug distributor Anda for $ 500 mn Israel’s eva harmaceutical Industries Ltd has a reed to purchase ller an’s nda Inc the fourth lar est distributor of generic pharmaceuticals in the US, for $ 500 million.

Vodafone renews multi-million dollar IT deal with IBM India’s second lar est mobile operator Vodafone has rene ed

its multi-million dollar agreement for IT infrastructure with tech

giant IBM for another five years.

Reliance General enters 'bancassurance' deal with co-operative bank Non-life insurer Reliance General Insurance Company Ltd. has



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announced a bancassurance tie-up with Shamrao Vithal Co-

operative Bank (SVCB). According to Reliance General, it will

distribute its insurance products to the customers of SVCB

having a network of 194 branches.

Zydus acquires derma brand Melgain from Issar Pharma Ahmedabad-headquartered Zydus Group has acquired Melgain

brand from Hyderabad based Issar Pharma for an undisclosed

sum that would marketed in India by Liva Healthcare. Zydus is

currently the leader in the skin de-pigmentation segment & the

acquisition of Melgain marks its foray into the re-pigmentation.

PM to lay foundation stone of NTPC plant in Telangana PM Narendra Modi will lay the foundation stone of NTPC's 1,600

MW Telangana Super Thermal Power Project (Phase I) in

Ramagundam city of the state. As for India's 29th state, NTPC is

all set to establish the project in two phases -- 1600 MW

(2x800MW) in Phase I & 2400 MW (3x800 MW) in Phase II.

IBM, Apple open first global development hub in India IBM, Apple launches a new global development hub at Manyata

Tech Park, Bengaluru. It is one among centres of the network in

Cupertino, Atlanta, Toronto & Chicago. The hub mainly aims to

help the clients in India complete digital mobility process much

sooner on pple’s iOS platform.

First Tech Meet of Hydrocarbon Vision 2030 The first technology two-day meet under the Hydrocarbon

Vision 2030 for Northeast India has begun in Guwahati &

deliberate various issues regarding implementation of the

document which envisages an investment of Rs 1,30,000 crore.

Siemens receives Rs 217 cr order for power project in Bangladesh German Engineering major Siemens Ltd. has received an order

worth approximately Rs 217 crore for Power Grid Company of

Bangladesh Limited (PGCB) project from its parent company

Siemens AG, Germany, to supply 400 kV/230 kV switch yard

equipment, reactors, power transformers, fire fighting systems,

air-conditioning systems, auxiliary power system, building

management systems, illumination systems, AC control &

protections, engineering for civil & plant for 500 MW high

voltage direct current (HVDC) station.

Dr Reddy's completes acquisition of Teva's US portfolio of 8 products Dr. Reddy's announced that it has successfully completed the

acquisition of eight Abbreviated New Drug Applications (ANDAs)

in the US from Teva Pharmaceuticals Industries & an affiliate of

Allergan Plc.

Infosys invests $4 million in Israeli firm Cloudyn Infosys Limited is an Indian multinational corporation has

announced investing $4 million (Rs.27 crore) in Cloudyn,an

Israeli corporation, providing software as a service (Saas)

solutions for the management & optimization of hybrid, multi-

cloud deployments.

BHEL commissions 500 Mw Marwa Thermal Power station in Chhattisgarh State-run Bharat Heavy Electricals Ltd (BHEL) has commissioned

the second 500 Mw (megawatt) thermal unit at Marwa Thermal

Power Station in Janjgir-Champa district of Chhattisgarh.

AXA, Alibaba, Ant Financial have tied up in global strategic partnership AXA, Alibaba, & Ant Financial Services have stated that they

have agreed to engage in a global strategic partnership to

explore opportunities to distribute AXA's insurance products &

services through Alibaba's global e-commerce ecosystem.

Government launches credit rating scheme for MSMEs The Ministry of Micro, Small & Medium Enterprises has launched a performance & credit rating scheme to assess the capabilities & creditworthiness of industries in the sector. The 'Performance & Credit Rating Scheme' will provide "trusted" third party opinion to create awareness about the strengths & weaknesses of enterprises' existing operations.

Freecharge inks partnership with PayUbiz India's digital payments platform Freecharge has partnered with

the leading payment gateway solution provider, PayUbiz, to

further strengthen its merchant base & help consumers move

from cash to digital payments.

IRCTC's app ties-up with Mobikwik for e-cash payments MobiKwik & IRCTC have announced an exclusive partnership,

wherein MobiKwik will power e-cash payments on IRCTC's e-

catering app, Food on Track. The app allows passengers to book

& get food from their preferred restaurants, delivered right at

their train coaches.

Oracle to Buy NetSuite for $9.3 Billion Business software maker Oracle has announced that it has

entered into a definitive agreement to acquire NetSuite, the

very first cloud company. The transaction is valued at $9.3

billion. The deal would help Oracle gain market share in the fast-

growing cloud computing business.

A10 Networks acquires cloud firm Appcito US-based A10 Networks, an application networking & security



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company has announced the acquisition of Appcito -- a provider

of Software-As-A-Service (SaaS)-based, multi-cloud Application

Delivery Controllers (ADC) solutions.

India approves $318 million loan for Sri Lanka Railways India has approved a $318 million loan for Sri Lanka Railways to

upgrade its communications system & rolling stock in the Tamil-

dominated north.

India signs $1 billion deal with US for procuring four Poseidon-8I aircraft India has signed a 1 billion dollar deal with US defence &

aerospace major Boeing for procuring four long-range maritime

surveillance & anti-submarine warfare aircraft, Poseidon-8I.

Chinese tech giant LeEco to acquire Vizio for $2 billion Chinese electronics firm LeEco to buying American TV

manufacturer Vizio for $2 billion. Under the deal, Vizio will be

operated as an independent subsidiary.

SBI to use IOC kisan seva centres to serve farmers State bank of India (SBI) has engaged Indian Oil Corporation's

Kisan Seva Kendras as banking correspondents to extend

banking facilities to farmers across the country.

Hinduja National Power commissions 1,040 MW thermal power project in Visakhapatnam Part of the Hinduja Group, Hinduja National Power Corporation

Limited (HNPCL) has commissioned its 1,040 MW coal fired

thermal power project on the coast of Bay of Bengal at

Palavalasa village in the Visakhapatnam district of Andhra

Pradesh.

Flipkart's Myntra acquires Jabong Online fashion marketplace Myntra has announced that it has

acquired its rival Jabong from Global Fashion Group to create

India’s bi est fashion shoppin destination. he ac uisition of

Jabong further strengthens Myntra.

Verizon set to announce USD 5 bn deal to buy Yahoo American broadband telecommunication company, Verizon

Communications Inc announced an agreement to buy Yahoo Inc

for about 5 billion

Seven Indian firms in Fortune 500 list Seven Indian companies have made it to the latest Fortune 500 list of the world's biggest corporations in terms of revenue. The list is topped by the retail giant Walmart with revenue of $482,130 million, followed by State Grid (revenue of $329,601 million) & China National Petroleum ($299,271 million) at the second & third place respectively. While among Indian firms,

Indian Oil Corporation ranked highest at 161st place with revenue of $54.7 billion & jewelry major Rajesh Exports has made its debut at the 423rd position. Among the seven Indian companies, four are from the public sector while Reliance Industries (215th) is the top-ranked among private sector firms, followed by Tata Motors (226) & Rajesh Exports. Among state-run majors, Indian Oil is followed by banking behemoth SBI (232), Bharat Petroleum (358) & Hindustan Petroleum (367).

IRCTC, SBI sign MoU on promotion of rail ticketing activities IRCTC & State Bank of India (SBI) have signed a MoU to hammer

out a detailed plan for promotion of rail ticketing activities,

including internet ticketing & unreserved ticketing system.

Mydala partners Viacom 18 for 'Star Trek Beyond Mydala.com has joined forces with Viacom 18 as the media

partner for 'Star Trek Beyond', the third installment of the iconic

Star Trek Reboot Series.

HDFC ERGO enters into bancassurance tie-up with SVC Bank HDFC ERGO General Insurance Company & Shamrao Vithal Co-

operative (SVC) Bank have announced their bancassurance

agency partnership to provide a range of non-life insurance

offerings to the customers of the bank.

Startup India States Conference to be held The Department of Industrial Policy & Promotion (DIPP) is

organizing a day-long conference on Startup India in New Delhi

with an aim to give impetus to start up India initiative.

Paytm ties up with grocery retailer Heritage Fresh Mobile payment & commerce platform Paytm has entered into a

strategic alliance with H

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