RBI/Banking/Business News

January 29: RBI signs an information sharing agreement with Brazils Central Bank

January 28: RBI Asks Banks to Ease Norms for Individual Borrowers

January 28: DBS Bank launches Tab banking

January 26: SBIs loan agreement with European Investment Bank (UIB)

January 26: Grocery Stores, Mobiles Seen Crucial For Next Banking Revolution

January 25: New direction of RBI for External Commercial Borrowings (ECB) Policy

January 25: HDFC Bank launches 11 toll-free numbers to cater to 32 nations

January 23: RBI Asks Banks to Display Loan Interest Rates on Websites

January 22: CII and Alibaba signed agreement to provide international platform to Indian SMEs

January 22: Reserve Bank of India has allowed travelers from India and Nepal or Bhutan to carry currency

notes of Rs 500 and Rs 1000

January 22: Apple Inc acquired British startup firm Semetric Limited

January 21: 11.5 crore bank accounts have been opened under the 'Pradhan Mantri Jan Dhan Yojana'

financial inclusion scheme,

January 20: State Bank of India (SBI) was ranked 51 in most valuable banks in 2014 with a market

capitalization of 36.40 Billion U.S. dollars....

January 19: Kotak Mahindra Bank on Monday announced the launch of Jifi Saver, a social savings bank

account which can be seamlessly managed via Twitter and Facebook.

January 19: Life Insurance Corporation of India (LIC) has increased its stake in public sector lender Central

Bank of India to 15 per cent.

January 19: ICICI Bank, country's largest private sector lender, now allows its customers to transfer money

via social networking site Twitter

January 16: RBI cuts repo rate by 25 bps after 20 months.

January 13: Zomato acquired US based food portal Urbanspoon

January 12: SEBI planned easier norms for domestic mutual fund managers

January 12: Reserve Bank and the European Central Bank (ECB) have signed a memorandum of

understanding for cooperation in the area of central banking.

January 12: Mahila Bank will have 80 branches pan-India by March

January 8: ICICI Bank launches contactless credit and debit cards

January 6: PNB revises interest rate on FDs by up to 0.5%

January 2: ICICI launches 'digital village' project; adopts Gujarat village

National

January 29: Union Government launched Website, Logo, Vision, Mission of NHIDCL

January 29: Union Cabinet approved MoU on Tourism between India and Oman

January 23: Sukanya Samridhi Yojana will enable parents to open bank accounts of girls who are under 10

years of age.

January 28: Maharashtra government has announced that, September 17 (on Vishwakarma Jayanti) will

be observed as Industries Day in each district.

January 22: The Union Ministry of Urban Development on 21 January 2015 launched the HRIDAY

campaign that seeks to preserve and rejuvenate the rich cultural heritage of the country.

January 20: Union Government prohibited imports of all kind of mobile handsets with fake or duplicate

Unique Identity Numbers. The move will help the security agencies to track callers using different SIM

cards.

January 17: Union Ministry of Social Justice and Empowerment on 16 January 2015 launched two schemes

Venture Capital Fund for Scheduled Castes and Green Business scheme.

January 17: Union government reconstituted pollution control board working group to simplify

procedures to get consent certificates and categorization of industries.

January 14: Union government reconstituted pollution control board working group to simplify

procedures to get consent certificates and categorization of industries.

January 14: As part of it, 8 Block Offices & 52 Gram Panchayats of the Idukki district were connected on

Optical Fiber and one Gram Panchayat, namely Edamalakudy, was connected through VSAT (Very Small

Aperture Terminal).

January 14: The Union Ministry of Health proposed the Cigarettes and Other Tobacco Products

(Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and

Distribution) (Amendment) Bill 2015.

January 13: Union Railway minister Suresh Prabhu inaugurated Indias first compressed natural gas (CNG)-

powered train.

January 9: Indian Government on 8 January 2015 decided to provide 69 million rupees to Nepal as

assistance to launch the Iodine Deficiency Disorder Control Programme (IDDCP)

January 8: Union Government launched National Toll Free Helpline to assist the drug dependent persons

January 6: The Union Petroleum Ministry launched the sale of subsidized 5 kg cooking gas cylinders to

benefit Below Poverty Line (BPL) families, students and migrant labourers.

January 5: Prime Minister (PM) Narendra Modi on 5 January 2015 launched a National Programme for

LED-based Home and Street Lighting in New Delhi to reduce energy consumption.

January 2: To replace the 65 year old Planning Commission, the Union Government has set up the

National Institution for Transforming India (NITI) Aayog.

January 2: The President signed 121 constitutional Amendment Bill that approves to set up National

Judicial Appointments Commission.

Indian Economy

January 30: Union Government divested 10 percent stake in Coal India Limited

January 29: CCEA (The Cabinet Committee on Economic Affairs) approved HDFC Banks proposal to raise

foreign holding limit to 74 per cent.

January 28: RBI inked MoU on Supervisory Cooperation and Exchange of Supervisory Information with

Banco Central do Brasil (BCB).

January 24: The directions have been issued under sections 10(4) and 11(1) of the Foreign Exchange

Management Act, 1999. Changes are effected during the tenure of the ECB.

January 22: Shanta Kumar Committee on 21 January 2015 submitted its report on restructuring of Food

Corporation of India (FCI) to the Prime Minister Narendra Modi.

January 20: In response to Make in India initiative of Prime Minister, ONGC and Pan-IIT signed

MoC to enhance exploration and exploitation of hydrocarbons and alternate sources of energy.

January 20: UNESCAP released WESP 2015 report and projected that regional growth will pick up in 2015-

16, as average GDP growth will accelerate from 5.0 percent in 2014 to 5.3 percent in 2015 and 5.7 percent

in 2016.

January 17: CCEA chaired by Prime Minister Narendra Modi on 16 January 2015 approved revision in

buffer norms of food grains in the Central Pool.

January 16: The wholesale price index based inflation raised marginally to 0.11 percent in December 2014

from zero percent in November 2014.

January 16: Final guidelines that allow banks to act as insurance brokers were issued by Reserve Bank of

India on 15 January 2015.

January 15: The Joint Venture agreement is aimed at setting up new Ammonia and Urea plants at the

existing site of Ramagundam Fertilizer plant in District Karimnagar in Telangana.

January 15: RBI cut its main lending rate (repo rate) by 0.25 per cent with immediate effect in its sixth Bi-

Monthly Monetary Policy that was announced on 15 January 2015.

January 14: Tech Mahindra on ten Jan 2015 signed definitive agreement to acquire the Swiss firm SOFGEN

Holdings Ltd

January 13: The proposed norms aimed to make it easier for domestic mutual funds to manage offshore

pooled assets.

January 12: Andhra Pradesh governments formed the Fourth State Finance Commission under the

chairmanship of M L Kantha Rao, the Prof. of Economics and Dean S K University.

January 10: Kotak Mahindra Bank secured its shareholders approval for amalgamation with ING Vysya

Bank. It was declared by the Kotak Mahindra Bank on eight January 2015

January 9: Vistara airlines, a joint venture of Tata-SIA, started its flight operation in India on nine Jan 2015.

January 3: RBI amended KYC norms for NBFCs, as they were facing practical difficulties and constraints in

getting KYC documents at frequent intervals.

International/World

January 30: The World Bank has released report scaling the Heights: Social inclusion and sustainable development on Himachal Pradesh.

January 29: US technology giant Apple, has reported the biggest quarterly profit of 18 billion US dollar.

January 27: Joint Strategic Vision aimed to promote peace, prosperity and stability in Asia-Pacific and

Indian Ocean region.

January 26: Alexis Tsipras became the first prime minister in Greek history to be sworn in without the

traditional oath on a Bible and blessing of basil and water from the Greek Archbishop.

January 24: Yingluck is the first Prime Minister to be impeached by parliament in Thailands history. The

impeachment was a result of an allegation for failing to stop corruption in rice-pledging scheme.

January 23: Dubais Maze Tower was listed in the Guinness World Record for being the worlds largest

vertical maze. The maze tower was built by Al Rostamani Group of Dubai.

January 20: EU foreign policy Chief Federica Mogherini decided to appeal in a meeting with other foreign

ministers from the 28 EU-member states.

January 20: National Small Industries Corporation Limited on 19 January 2015 signed a Memorandum of

Understanding of Cooperation with the Black Business Council of South Africa.

January 20: Haitian President Michel Martelly on 18 January 2015 announced the formation of new

government that will be led by newly elected Prime Minister Evans Paul.

January 19: Parliament of Europe adopted a resolution calling on India to allow the return of two Italian

marines Massimiliano Latorre and Salvatore Girone.

January 17: The measures include better threat information sharing and the creation of a new joint cyber

task force which will have a physical presence in both the countries.

January 17: Japan committed 2620 crore rupees development loan assistance to India for PPP

infrastructure financing project of IIFCL.

January 16: China will launch the construction of at least five new nuclear reactors with a total capacity of

more than 5 Gigawatts.

January 16: Chinese drug regulator China Food and Drug Administration (CFDA) on 15 January 2015

approved a new vaccine S-IPV to treat the Poliomyelitis.

January 15: Union Government has identified five areas for rejuvenating the holy city under the Kyoto-

Varanasi partnership deal that was entered between India and Japan in August 2014.

January 14: The Cabinet of Japan headed by Prime Minister Shinzo Abe approved its largest ever defence

budget for 2015 on 14 January 2015.

January 14: India China trade deficit increased to 37.8 billion US dollars in 2014 despite the increase in

bilateral trade by 7.9 percent.

January 13: Australia on 12 January 2015 launched Online Visa Pilot Programme to make it easier for

Indian business and tourism visitors to apply online visa for travelling Australia.

January 12: Kolinda belongs to the conservative Croatian Democratic Union (HDZ) party and is a former

Assistant Secretary General at NATO and former Croatian ambassador to the United States.

January 12: US House of Representatives passed a legislation that approves construction of a

controversial Keystone XL oil pipeline with 266-153 votes.

January 12: US Attorney General Eric Holder announced that an Anti-terror Summit will be held in

Washington. The summit will be held on 18 February 2015.

January 9: Mithripala Sirisena won presidential elections 2015 of Sri Lanka that was announced by the

Election Department.

January 9: Egypt will hold parliamentary elections in two phases that was announced by the Egypt

election commission.

January 9: Prime Minister Narendra Modi agreed to provide 60 million dollars Line of Credit to Guyana for

its road infrastructure projects and passenger ferry service.

January 8: The airline was lauded for amassing an extraordinary record of firsts in safety history and

operations over its 94-year history.

January 8: China included potatoes as staple diet after rice, wheat and corn

January 8: Pak-India Dosti bus service was restricted up to Wagah Border that was announced by the

Pakistan Tourism Development Corporation.

January 7: Russian President issued decree to enable foreign soldiers to serve in Russian Military

January 5: Israel stopped transfer of about 500 million shekels of taxes for the month of December 2014

that was collected on behalf of the Palestinians to the Palestinian Authority Government.

January 5: China on 4 January 2015 launched website www.weain.mil.cn to guarantee transparency in

arms procurement.

Appointments/Resignation

January 29: Divya Prakash Sinha was appointed as Secretary (Security) in the Union Cabinet Secretariat.

His appointment was approved by Appointments Committee of the Cabinet (ACC).

January 29: Eminent singer, composer, lyricist and actor Shekhar Sen has been appointed as the chairman

of the Sangeet Natak Akademi (SNA).

January 29: Union Government has appointed Subrahmanyam Jaishankar as the new Secretary of Ministry

of External Affairs (i.e. Foreign Secretary).

January 28: Rajasthan Governor Kalyan Singh has sworn in as the 26th Governor of Himachal Pradesh.

January 28: Union Government appointed an IPS officer of 1981 batch from Andhra Pradesh K Durga

Prasad as the Special Director General of the CRPF on 27 January 2015.

January 26: Indian sociologist Saraswathy Menon in UNs peace-building panel

January 20: Taranjeet Singh appointed as Head of Sales of Twitter for India operation.

January 17: Nepali Congress leader Deep Kumar Upadhyay was on sixteen January 2015 appointed as

Nepal's ambassador to India.

January 16: Anupam Shrivastava is the new CMD of BSNL

January 13: Alur Seelin Kiran Kumar appointed as Chairman of ISRO

January 10: K K Paul became new Governor of Uttarakhand

January 6: Arvind Panagariya appointed as the Vice-Chairman NITI Aayog

January 4: A.K. Mittal : New Chairman of Railway Board

Awards/Honours

January 30: University of Hyderabad wins visitors award for Best University

January 29: Poet Arundhathi Subramaniam won the inaugural Khushwant Singh Memorial Prize for Poetry

for her work When God is a Traveller at Jaipur Literature Festival.

January 27: Major Mukund Varadarajan and Naik Neeraj Kumar Singh were on 26 January 2015

posthumously awarded with the highest peacetime military honour the Ashok Chakra by President Pranab

Mukherjee.

January 27: The President of India Pranab Mukherjee approved the conferment of Padma Awards 2015 on

104 persons from the fields of art, social work, public affairs, science, trade, medicine, literature, etc.

January 27: Paulina Vega of Colombia crowned as Miss Universe 2014. She was crowned by the 2013

pageant winner Venezuelan Gabriela Isler.

January 24: Prime Minister presented National Bravery Awards 2014 to 24 awardees

January 17: Hindustan Aeronautics Limited (HAL) Chairman R.K. Tyagi was on 16 January 2015 conferred

with the JGBS-Top Rankers' Excellence Award for CEO of the year 2014.

January 17: 2015 Screen Awards were announced in Mumbai. Shahid won the Best Actor (male) trophy

for Haider and Priyanka won Best Actor (female) for Mary Kom.

January 15: Eminent Sanskrit scholar Prabhu Nath Dwivedi was on 14 January 2015 named as the winner

of the Sahitya Akademi Award 2014 for Sanskrit language

January 13: The Mars Orbiter Mission (MOM) Team of Indian Space Research Organization (ISRO) on 12

January 2015 won the 2015 Space Pioneer Award in the Science and Engineering category.

January 13: RBI Governor Raghuram Rajan received the Governor of the Year for 2015.

January 12: 72nd Golden Globe Awards were presented by the Hollywood Foreign Press Association in

Beverly Hills, California, US.

January 12: The director of Satish Dhawan Space Centre (SDSC), Sriharikota Range (SHAR) MYS Prasad was

on 10 January 2015 selected for the Vikram Sarabhai memorial award 2015.

January 10: Vice President of India Mohammad Hamid Ansari on 9 January 2015 presented the Pravasi

Bharatiya Samman Awards 2015 to sixteen personalities.

January 10: Chinese nuclear physicist Yu Min was on 9 January 2015 presented with the State Preeminent

Science and Technology Award 2014 by Chinese President Xi Jinping.

January 2: Indian-origin Nilesh Jayantilal Samani awarded knighthood as part of Queens New Year

Honours.

Sport News

January 29: India to host ICC Twenty20 World Cup in 2016

January 29: Sean Abbott of Australia named as the Bradman Young Cricketer of the Year 2015

January 28: Saina Nehwal won womens single of Syed Modi Grand Prix Gold Badminton Tournament

2015

January 27: Argentine playmaker Juan Roman Riquelme retired from Football

January 20: 4th Gun for Glory (GFG) Shooting Championship :Ayonika Paul and Annu Raj Singh won gold

medal

January 20: ONGC won 10th Savio Cup All India Basketball tournament

January 19: Jimjang Deru created national record in weightlifting in 56-kg category January 19: Pankaj Advani won National Billiards title for seventh time

January 19: South Africa's AB de Villiers hit fastest century in ODIs

January 18: Petra Kvitova won womens single title of Sydney International tennis tournament

January 17: Mark Knowles and Ellen Hoog were named as the International Hockey Federation (FIH)

Player of the Year 2014 in men and women category, respectively.

January 17: Stephen Constantine appointed as head coach of India's men football team

January 17: Andrey Baryshpolets won the 13th Parsvanth International Grandmasters Chess Tournament

January 17: All India Football Federation (AIFF) appointed Englishman Stephen Constantine was as the

head coach of Indian mens football team.

January 15: Australian cricketer Brett Lee on 14 January 2015 announced his retirement from all forms of

cricket after a 20-year career

January 15: Bhakti set world record by swimming 1.4 miles in 52 minutes in the Antarctic Ocean

January 13: Misbah-ul-Haq will take retirement from ODIs after Cricket World Cup 2015

January 13: Brisbane International tennis title: Roger Federer became winner

January 13: Cristiano Ronaldo won the 2014 FIFA Ballon d'Or Award

January 12: Australia won 4-match Border-Gavaskar Test series, 2-0

January 8: India to host World Bridge Championships 2015

January 7: Russian Popov Ivan won 7th Chennai International Open Grandmaster Chess title

January 7: Ishpreet Singh Chadha won National Sub-Junior Snooker title 2015

January 7: Indian weightlifters bagged a total of 14 medals including 6 Gold Medals in the 17th Asian

Youth (boys & girls), 22nd Junior Women and 29th Junior Men Asian Weightlifting Championships 2015 at

Doha, Qatar.

January 6: BCCI announced 15-man Indian cricket team for World Cup 2015

January 6: S Shrikrishna won the National Sub-Junior Billiards title 2015

January 5: Andy Murray won ATP World Tennis Championship in Abu Dhabi

January 5: Ministry of Youth Affairs and Sports on 2nd Jan 2015 declared Boxing India as the governing

body to represent boxing in India

January 7: Binny and Akshar Patel included in Indias squad for the 2015 World Cup

January 3: Sri Lanka batsman Kumar Sangakkara became fastest to score 12000 Test runs

Eulogies

January 30: Gorkha National Liberation Front (GNLF) founder Subhash Ghisingh has passed away in New

Delhi. He was 78.

January 29 : Kelvin David George Nagle, winner of British Open in 1960 died on 29 January 2015 in Sydney

at the age of 94

January 28: Veteran Malayalam actor Mala Aravindan passed away.

January 28: Justice R.K. Patra probing Odisha chit fund scam died.

January 28: Hockey Olympian Jaswant Singh Rajput passed away.

January 27: Legendary cartoonist R K Laxman to be cremated in pune.

January 24: Ernie Banks, Hall of Famer known as "Mr Cub," died at 83.

January 23: Popular Telugu comedian MS Narayana died.

January 23: Saudi Arabia King Abdullah bin Abdulaziz died

January 22: Russian tennis player Violetta Degtiareva died of heart failure at 23.

January 22: Russian tennis player Violetta Degtiareva died of heart failure at 23.

January 19: Eminent political scientist Rajni Kothari passed away.

January 13: Odia actor Hara Patnaik died.

January 12: Veteran Telugu filmmaker V B Rajendra Prasad passed away.

January 9: Actor Rod Tyler, the star of "The Birds" and "The Time Machine" died at 84, just days ahead of

his 85th birthday.

January 8: Freedom fighter Perin Chandra died.

January 5: Telugu writer Ganesh Patro died.

January 4: Gujarati actor Upendra Trivedi passed away, PM Modi condoles death.

January 4: Veteran Chinese sports administrator He Zhenliang died.

Miscellaneous

January 29: Union Cabinet reconstituted Empowered Committee on setting up of Semiconductor Wafer

FAB projects

January 24: Goa to host Indo-Russian Musical Festival ZimaFest

January 21: Doctors successfully performed the first organ transplant on a newborn baby in Britain

January 21: Hindi Novel Farishta authored by Kapil Isapuri

January 15: Scientists from Northeastern University in Boston, Massachusetts discovered a new antibiotic

named Teixobactin capable of fighting infections that kill hundreds of thousands of people each year.

January 16: Indian-Americans Jonodev Osceola Chaudhuri and Deven J Parekh nominated to key posts in

US.

January 17: Book on Sonia Gandhi titled The Red Sari written by Javier Moro released in India

January 17: Flash floods in Malawi; hundreds killed.

January 9: All-women contingent of Indian defence to march past for the first time on 2015 Republic Day

parade.

January 9: Commemorative Postage Stamps released to mark 100 Years of Mahatma Gandhis Return to

India.

January 9: The Lunchbox nominated for BAFTA 2015 under Non-English Best Film Category

January 9: PM Narendra Modi inaugurated Dandi Kutir museum

January 9: Kailash Satayarthi dedicated his Nobel Peace Prize to the Nation.

January 9: The Indian Parliament A Critical Appraisal written by Sudha Pai and Avinash Kumar released

January 8: Hike Messenger acquired Zip phone to launch free voice calling

January 7: Prime Minister released commemorative coin to mark 175th birth anniversary of Jamsetji Tata.

January 7: Facebook Inc acquired voice recognition startup company Wit.ai

January 5: Scientists at University of Southampton has planned to grow first life on Mars under project

Lettuce on Mars.

January 3: Bharat Forge acquired France-based Company Mecanique Generale Langroise

Recurring Terms

1. ICG Rajratan: The Inshore Patrol Vehicles

Indian Coast Guard (ICG) Rajratan, the fifth ship in the series of eight Inshore Patrol Vessels (IPVs) ordered after the

26/11 attack, was in news in the first week of January 2015.

The ship was deployed in 48-hour search operation at and around the site where the Pakistani terror boat sank

after its crew set it ablaze on 1 January 2015.

However, the ship could neither gather the debris of the fishing boat nor traced any survivors of bodies of the

boats suspected terrorist crew.

The only evidence of the incident that occurred now lies in the footage shot by sailors onboard ICGS Rajratan.

Specifications of ICG Rajratan

The ship has been indigenously built by Garden Reach Shipbuilders and Engineers, Kolkata.

The ship is 50-meter long and can achieve a maximum speed of 34 knots

It has an endurance of 1500 nautical miles at an economical speed of 16 knots

It is equipped with state-of-the-art weaponry and advanced communication and navigational equipments.

It provides an ideal platform for undertaking multifarious close-coast missions such as surveillance, interdiction,

search and rescue and medical evacuation.

It is fitted with Integrated Bridge Management System (IMBS), Integrated Machinery Control System (IMCS) and

an integrated gun mount with indigenous Fire Control system (FCS).

It is based in Porbandar and is commanded by Commandant (JG) C S Joshi and has a complement of five Officers

and 30 other ranks

2. Charlie Hebdo: a French satirical weekly magazine

Charlie Hebdo: A French satirical weekly magazine featuring cartoons, reports and jokes

Charlie Hebdo, a French satirical weekly magazine, featuring cartoons, reports, polemics, and jokes was in news in

first week of January 2015.

It was in news after masked gunmen on 7 January 2015 attacked its Paris office killing at least 12 people. The killed

ones included five of Charlie Hebdo's cartoonists, including the editor Charbonnier.

The magazine has been under threat since 2006, the year when it published cartoons on Prophet Mohammad

under title Muhammad overwhelmed by fundamentalists (Mahomet dbord par les intgristes). Earlier, it was

firebombed in 2011.

History of Charlie Hebdo

Charlie Hebdo first appeared in 1970 as a successor to the Hara-Kiri magazine, which was banned for mocking

the death of former French President Charles de Gaulle.

Hara-Kiri magazine was launched as a monthly magazine in 1960 by Georges Professeur Choron Bernier and

Franois Cavanna

In February 1969, Hara-Kiri launched its weekly issue named Hara-Kiri Hebdo focusing current affairs. It was later

in May 1969 renamed as LHebdo Hara-Kiri

In 1970, the Hara-Kiri magazine was renamed as Charlie Hebdo deriving its name from a monthly comics

magazine called Charlie which had been started by Bernier and Delfeil de Ton in 1969

In 1981 publication ceased, but the magazine was resurrected in 1992

The magazine's current editor is Grard Biard who took over the role after Charbonnier, who had been editor

since 2009, was killed on 7 January 2015

3. AMCA: Advanced Medium Combat Aircraft

AMCA was in news in the first week of January 2015. It was revealed by the sources from Defence Ministry that the

preliminary design stage of the futuristic fighter aircraft is over and the development work on the project is

expected to start in 2015.

The main purpose of the AMCA is to replace the aging SEPECAT Jaguar & Dassault Mirage 2000.

Features of fifth generation fighter aircraft AMCA

Single seat, twin engine with a diamond-shaped planform and an internal weapons bay

High maneuverability which tends to include short-field capabilities

Advanced avionics

Networked data fusion from sensors and avionics

Multirole capabilities

Complement HAL Tejas, the Sukhoi/HAL FGFA, the Sukhoi Su-30MKI and the Dassault Rafale

AMCA would be powered by K 9 or K 10 Engine with Super cruise capability without after burner.

Genesis of AMCA

The seed for developing the indigenous fifth generation fighter aircraft (FGFA) was sowed in 2008 but its finalised

form was unveiled during Aero India 2013.

The aircraft will be developed by Hindustan Aeronautics Limited (HAL) in collaboration with Indian Air Force (IAF),

Defence Research and Development Organisation (DRDO) and Aeronautical Development Agency (ADA).

The amount required for the initial design and development phase is 4000 crore rupees and the initial design of

AMCA is expected to be ready by 2018. The first flight of the AMCA though will only be possible by 2025.

Abbreviation

AD - Authorized Dealer

ADB- Asian Development Bank

ADR- American Depository Receipt

AIRCSC- All India Rural Credit Survey Committee

ARIMA - Auto Regressive Integrated Moving Average

ASSOCHAM - Associated Chambers of Commerce and Industry of India

ECS - Electronic Clearing Scheme

EDMU - External Debt Management Unit

EEFC - Exchange Earners Foreign Currency

EFR- Exchange Fluctuation Reserve

EXIM Bank- Export Import Bank of India

FCA- Foreign Currency Assets

FCCB - Foreign Currency Convertible Bond

FCNR (B) - Foreign Currency Non-resident (Banks)

FCNRA- Foreign Currency Non-resident Account

FCNRD- Foreign Currency Non-Repatriable Deposit

FDI - Foreign Direct Investment

FEMA- Foreign Exchange Management Act

FICCI- Federation of Indian Chambers of Commerce and Industry

FIMMDA- Fixed Income Money Market and Derivatives Association of India

FISIM- Financial Intermediation Services Indirectly Measured

FLAS- Foreign Liabilities and Assets Survey

UCN- Uniform Code Number

VC- Venture Capital

WGMS- Working Group on Money Supply: Analytics and Methodology of Compilation

WSS - Weekly Statistical Supplement

YTM - Yield to Maturity

Important Days

January: 31 Street Childrens Day

January: 30 (Martyr's day) Mahatma Gandhi's Martyrdom Day; Sarvodaya Day, World Leprosy Eradication

Day -Anti Leprosy Day.

January: 26 Republic Day India , International Customs Day

January: 25 National tourism day/ Voters Day.

January: 24 National Girl Child Day is observed on 24 January 2015 across the nation.

January: 18 National Immunization Day for the year 2015 was observed across India.

January: 15 India on 15 January 2015 observed the 67th Army Day.

January: 12 National Youth Day (Birthday of Vivekananda) observed across India on 12

January: 10 World Hindi Day , World Laughter Day

January: 9 Pravasi Bharatiya Divas (English: Non-resident Indian Day), is celebrated in India.

Special feature of the month

1. Padma Awards 2015

The President of India Pranab Mukherjee on 26 January 2015 approved the conferment of Padma Awards 2015 on 104 persons from the fields of activities including art, social work, public affairs, science, trade, medicine, literature and education, sports, civil service, etc.

The 2015 list of Padma Awardees comprises of 9 Padma Vibhushan, 20 Padma Bhushan and 75 Padma Shri Awardees. Out of these 104 awardees, 17 of the awardees are women.

Major Mukund Varadarajan, Naik Neeraj Kumar Singh posthumously awarded with Ashok Chakra. The awards will be given in March/April 2015 at a ceremonial function in Rashtrapati Bhavan in New Delhi.

Padma Vibhushan

S. No.

Name of the Awardee

Discipline State/Domicile

1 Lal Krishna Advani Public Affairs

Gujarat

2 Amitabh Bachchan

Art Maharashtra

3 Prakash Singh Badal

Public Affairs

Punjab

4 Dr. D Veerendra Heggade

Social Work Karnataka

5 Mohammad Yusuf Khan alias Dilip Kumar

Art Maharashtra

6 Jagadguru Ramanandacharya Swami Rambhadracharya

Others Uttar Pradesh

7 Malur Ramaswamy Srinivasan

Science and Engineering

Tamil Nadu

8 Kottayan K. Venugopal

Public Affairs

Delhi

9 Karim Al Hussaini Aga Khan (Foreigner)

Trade and Industry

France/UK

Padma Bhushan

S. No. Name of the Awardees Discipline State/Domicile

1 Shri Jahnu Barua Art Assam

2 Dr. Vijay Bhatkar Science and Engineering Maharashtra

3 Swapan Dasgupta Literature and Education Delhi

4 Swami Satyamitranand Giri Others Uttar Pradesh

5 N. Gopalaswami Civil Service Tamil Nadu

6 Dr. Subhash C. Kashyap Public Affairs Delhi

7 Dr. (Pandit) Gokulotsavji Maharaj Art Madhya Pradesh

8 Dr. Ambrish Mithal Medicine Delhi

9 Sudha Ragunathan Art Tamil Nadu

10 Harish Salve Public Affairs Delhi

11 Dr. Ashok Seth Medicine Delhi

12 Rajat Sharma Literature and Education Delhi

13 Satpal Sports Delhi

14 Shivakumara Swami Others Karnataka

15 Dr. Kharag Singh Valdiya Science and Engineering Karnataka

16 Professor Manjul Bhargava (NRI/PIO)

Science and Engineering USA

17 David Frawley (Vamadeva) (Foreigner)

Others USA

18 Bill Gates (Foreigner) Social Work USA

19 Melinda Gates (Foreigner) Social Work USA

20 Saichiro Misumi (Foreigner) Others Japan

Padma Shri

S. No. Names of the Awardees Discipline State/Domicile

1 Dr. Manjula Anagani Medicine Telangana

2 S. Arunan Science and Engineering Karnataka

3 Kanyakumari Avasarala Art Tamil Nadu

4 Dr. Bettina Sharada Baumer Literature and Education Jammu and Kashmir

5 Naresh Bedi Art Delhi

6 Ashok Bhagat Social Work Jharkhand

7 Sanjay Leela Bhansali Art Maharashtra

8 Dr. Lakshmi Nandan Bora Literature and Education Assam

9 Dr. Gyan Chaturvedi Literature and Education Madhya Pradesh

10 Professor Yogesh Kumar Chawla Medicine Chandigarh

11 Jayakumari Chikkala Medicine Delhi

12 Bibek Debroy Literature and Education Delhi

13 Dr. Sarungbam Bimola Kumari Devi Medicine Manipur

14 Dr. Ashok Gulati Public Affairs Delhi

15 Dr. Randeep Guleria Medicine Delhi

16 Dr. K. P. Haridas Medicine Kerala

17 Rahul Jain Art Delhi

18 Ravindra Jain Art Maharashtra

19 Dr. Sunil Jogi Literature and Education Delhi

20 Prasoon Joshi Art Maharashtra

21 Dr. Prafulla Kar Art Odisha

22 Saba Anjum Sports Chhattisgarh

23 Ushakiran Khan Literature and Education Bihar

24 Dr. Rajesh Kotecha Medicine Rajasthan

25 Professor Alka Kriplani Medicine Delhi

26 Dr. Harsh Kumar Medicine Delhi

27 Narayana Purushothama Mallaya Literature and Education Kerala

28 Lambert Mascarenhas Literature and Education Goa

29 Dr. Janak Palta McGilligan Social Work Madhya Pradesh

30 Veerendra Raj Mehta Social Work Delhi

31 Tarak Mehta Art Gujarat

32 Neil Herbert Nongkynrih Art Meghalaya

33 Chewang Norphel Others Jammu and Kashmir

34 T. V. Mohandas Pai Trade and Industry Karnataka

35 Dr.Tejas Patel Medicine Gujarat

36 Jadav Molai Peyang Others Assam

37 Bimla Poddar Other Uttar Pradesh

38 Dr. N. Prabhakar Science and Engineering Delhi

39 Dr. Prahalada Science and Engineering Maharashtra

40 Dr. Narendra Prasad Medicine Bihar

41 Ram Bahadur Rai Literature and Education Delhi

42 Mithali Raj Sports Telangana

43 P. V. Rajaraman Civil Service Tamil Nadu

44 J. S. Rajput Literature and Education Uttar Pradesh

45 Kota Srinivasa Rao Art Andhra Pradesh

46 Bimal Roy Literature and Education West Bengal

47 Shekhar Sen Art Maharashtra

48 Gunvant Shah Literature and Education Gujarat

49 Brahmdev Sharma (Bhaiji) Literature and Education Delhi

50 Manu Sharma Literature and Education Uttar Pradesh

51 Yog Raj Sharma Medicine Delhi

52 Vasant Shastri Science and Engineering Karnataka

53 S. K. Shivkumar Science and Engineering Karnataka

54 P. V. Sindhu Sports Telangana

55 Sardara Singh Sports Haryana

56 Arunima Sinha Sports Uttar Pradesh

57 Mahesh Raj Soni Art Rajasthan

58 Dr.Nikhil Tandon Medicine Delhi

59 H. Thegtse Rinpoche Social Work Arunachal Pradesh

60 Dr.Hargovind Laxmishanker Trivedi Medicine Gujarat

61 Huang Baosheng (Foreigner) Others China

62 Professor Jacques Blamont (Foreigner)

Science and Engineering France

63 Late Syedna Mohammad Burhanuddin (Posthumous)

Others Maharashtra

64 Jean-Claude Carriere (Foreigner) Literature and Education France

65 Dr. Nandrajan Raj Chetty (NRI/PIO)

Trade and Industry USA

66 George L. Hart (Foreigner) Others USA

67 Jagat Guru Amrta Suryananda Maha Raja(NRI/PIO)

Others Portugal

68 Late Meetha Lal Mehta (Posthumous) Social Work Rajasthan

69 Tripti Mukherjee (NRI/PIO) Art USA

70 Dr. Dattatreyudu Nori (NRI/PIO) Medicine USA

71 Dr. Raghu Rama Pillarisetti (NRI/PIO) Medicine USA

72 Dr. Saumitra Rawat (NRI/PIO) Medicine UK

73 Annette Schmiedchen (Foreigner) Literature and Education Germany

74 Late Pran Kumar Sharma (Posthumous) Art Delhi

75 Late R. Vasudevan (Posthumous) Civil Service Tamil Nadu

Padma Awards

Padma Awards are one of the highest civilian Awards of the country that are conferred in three categories Padma Vibhushan, Padma Bhushan and Padma Shri.

The awards are announced on the occasion of Republic Day every year. The Awards are given in various fields of activities including art, social work, public affairs, science, trade, medicine, literature and education, sports, civil service, etc. Padma Vibhushan is awarded for exceptional and distinguished service; Padma Bhushan is awarded for distinguished service of high order and Padma Shri is awarded for distinguished service in any field.

2. About Ashok Chakra

The Ashok Chakra is an Indian military decoration awarded for bravery, courageous action or self-sacrifice away from the battlefield. It is the peace time equivalent of the Param Vir Chakra and is awarded for the most

conspicuous bravery or some daring or pre-eminent bravery or self-sacrifice other than in the face of the enemy.

The decoration could also be awarded either to military or civilian personnel and may be awarded posthumously.

The medal is circular gold gilt, 1-3/8 inches in diameter. In the centre, the chakra (wheel) of Ashoka, encircled by a

lotus wreath and with an ornate edge. Suspended by a straight bar suspender. The medal is named on the edge.

Ashok Chakra has been awarded to the following:

MAJOR MOHIT SHARMA (POSTHUMOUS)

HAVILDAR RAJESH KUMAR (POSTHUMOUS)

MAJOR D. SREERAM KUMAR

Ashok Chakra Awardee (26th January 2015): Naik Neeraj Kumar Singh, raj Rif / 57 RR (POSTHUMOUS)

Indian Army Winners of Gallantry Awards fifteen August 2014: Maj Mukund Varadarajan

(POSTHUMOUS), 22 Rajput, 44 RR

Ashok Chakra Awardees (26th January 2014): Sub-Inspector K Prasad babu (POSTHUMOUS)

Ashok Chakra Awardees (26th January 2012): Lieutenant Navdeep Singh (POSTHUMOUS)

Ashok Chakra Awardees (26th January 2011): Major Laishram Jyotin Singh

3. NITI (National institution for transforming India) Aayog

The Government of India has replaced planning commission with a new body known as NITI Aayog ( i.e. National

institution for transforming India). A govt Resolution issued on 01-January-2015 gave details of the new body. The

institutional framework of govt. has developed and matured over the years. This has allowed the development of

domain expertise which allows us the chance to increase the specificity of functions given to institutions. Specific

to the planning process, theres a desire to separate as well as energize the distinct process of governance from

the strategy of governance.

In the context of governance structures, the changed requirements of our country, point to the need for

establishing an institution that serves as a think tank of the govt. a directional and policy generator. The

proposed institution must provide governments at the central and state levels with relevant strategic and technical

recommendation across the spectrum of key elements of policy. This includes matters of national and

international import on the economic front, dissemination of best practices from in the country as well as from

other nations, the infusion of new policy ideas and specific issue-based support. The institution has to be able to

respond to the changing and more integrated world that India is part of.

An important evolutionary modification from the past will be replacing a centre-to-state one-way flow of policy by

a genuine and continued partnership with the states. The institution must have the mandatory resources,

knowledge, skills and, ability to act with speed to provide the strategic policy vision for the govt. as well as contend

with contingent issues.

Perhaps most significantly, the institution must adhere to the tenet that whereas incorporating positive influences

from the world, no single model can be transplanted from outside into the Indian scenario. We need to find our

own strategy for growth. The new institution has to zero in on what will work in and for India. It will be a

Bharatiya approach to development.

Objectives of NITI Aayog

The institution to give life to these aspirations is the NITI Aayog (National institution for remodeling India). This is

being proposed after extensive consultation across the spectrum of stakeholders including inter alia state

governments, domain experts and relevant institutions. The NITI Aayog will work towards the following objectives:

To evolve a shared vision of national development priorities, sectors and techniques with the active

involvement of States in the light of national objectives. The vision of the NITI Aayog will then provide a

framework national agenda for the Prime Minister and the Chief Ministers to provide impetus to.

To foster cooperative federalism through structured support initiatives and mechanisms with the States

on a continuous basis, recognizing that strong States create a powerful nation.

To develop mechanisms to formulate credible plans at the village level and aggregate these progressively

at higher levels of government.

To ensure, on areas that are specifically referred to it, that the interests of national security are

incorporated in economic strategy and policy.

To pay special attention to the sections of our society that will be at risk of not benefitting adequately

from economic progress.

To design strategic and long run policy and programme frameworks and initiatives, and monitor their

progress and their efficacy. The lessons learnt through monitoring and feedback will be used for making

innovative improvements, including necessary mid-course corrections.

To provide recommendation and encourage partnerships between key stakeholders and national and

international like-minded think Tanks, as well as educational and policy research institutions.

To create a knowledge, innovation and entrepreneurial support system through a collaborative

community of national and international experts, practitioners and other partners.

To offer a platform for resolution of inter-sectoral and inter-departmental issues in order to accelerate

the implementation of the development agenda.

To maintain a state-of-the-art Resource Centre, be a repository of research on good governance and best

practices in sustainable and equitable development as well as help their dissemination to stake-holders.

To actively monitor and evaluate the implementation of programmes and initiatives, including the

identification of the needed resources so as to strengthen the probability of success and scope of delivery.

To focus on technology upgradation and capability building for implementation of programmes and

initiatives.

To undertake other activities as may be necessary in order to further the execution of the national

development agenda, and the objectives mentioned above.

The NITI Aayog will comprise the following:

Prime Minister of India as the chairman

Governing Council comprising the Chief Ministers of all the States and Lt. Governors of Union Territories

Regional Councils will be formed to address specific problems and contingencies impacting more than one

state or a region. These will be formed for a specified tenure. The Regional Councils will be convened by

the Prime Minister and will comprise of the Chief Ministers of States and Lt. Governors of Union

Territories within the region. These will be chaired by the chairman of the NITI Aayog or his nominee.

Experts, specialists and practitioners with relevant domain knowledge as special invitees nominated by

the Prime Minister

The full-time organizational framework will comprise of, in addition to the Prime Minister as the

Chairperson:

Vice-Chairperson: To be appointed by the Prime Minister

Members: full-time

Part-time members: maximum of two from leading universities research organizations and other relevant

establishments in an ex-officio capability. Part time members will be on a rotational basis.

Ex Officio members: maximum of four members of the Union Council of Ministers to be nominated by the

Prime Minister.

Chief executive officer : To be appointed by the Prime Minister for a fixed tenure, in the rank of Secretary

to the govt. of India.

Secretariat as deemed necessary.

4. National Heritage Development and Augmentation Yojana (HRIDAY)

The Union Ministry of Urban Development on 21 January 2015 launched the National Heritage Development and Augmentation Yojana (HRIDAY) that seeks to preserve and rejuvenate the rich cultural heritage of the country.

Highlights of HRIDAY

HRIDAY seeks to promote an integrated, inclusive and sustainable development of heritage sites, focusing on maintenance of monuments and on advancement of the entire ecosystem.

In the initial phase of HRIDAY, 12 heritage cities have been identified which will be rejuvenated and developed. Union Government will provide 500 crore rupees to these 12 cities. These 12 cities are Varanasi (Uttar Prdesh), Amritsar (Punjab), Warangal (Telangana), Ajmer Ajmer (Rajasthan), Gaya (Bihar), Mathura (Uttar Pradesh, Kanchipuram (Tamil Nadu), Vellankini (Tamil Nadu), Amaravati (Andhra Pradesh), Badami (Karnataka), Dwaraka (Gujarat) and Puri (Orissa).

The scheme will be completely funded by union Government to create infrastructure and provide facilities around the heritage sites to attract more tourists.

5. Republic Day

US President Barack Obama has become the first American President to be Chief Guest on Republic Day

celebrations.

He is also the first American President to visit India twice (earlier he had visited India in November 2010).

Key highlights of 66th Republic Day celebrations

In this Parade, US President witnessed Indias military might and cultural diversity. This years parade was more

based on cultural diversity rather than showing on military might.

For the parade, Barack Obama arrived in his own vehicle named Cadillac one (The Beast) and not with President

Pranab Mukherjee. Thus, breaking the traditional practice, as the Chief Guest usually comes to the venue with the

President, the Head of the State.

Several States displayed tableaux depicting their local flavor and traditions.

While, some Union government departments displayed tableaux related to government initiatives like

Make in India and save the girl child.

For first time in history, all women contingents of the three services Army, Navy and Air Force marched in

the parade.

Some of Indias latest military arsenal was displayed in this years parade. However, Nuclear-capable Agni

missiles- a highlight for the past several years was not displayed this year.

6. Sukanya Samridhi Yojana

Prime Minister Narendra Modi on 22 January 2015 launched a small deposit scheme Sukanya Samridhi Yojana for girl child under the Beti Bachao Beti Padhao (BBBP) campaign.

The scheme will ensure equitable share to a girl child in resources and savings of a family in which she is generally discriminated against a male child. Sukanya Samridhi Yojana will enable parents to open bank accounts of girls who are under 10 years of age. About the Sukanya Samridhi Account

Sukanya Samridhi Account will fetch an interest rate of 9.1 percent and provide income tax rebate. 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. A maximum of 1.5 lakh rupees can be deposited during the financial year. The account can be opened in any post office or authorised branches of commercial banks. The account will remain operative for 21 years from the date of opening of the account or marriage of the girl child after attaining 18 years of age. To meet the requirement of higher education expenses, partial withdrawal of 50 percent of the balance amount will be allowed after the girl child has attended 18 years of age.