1GENERAL AWARENESS WITH SPECIAL REFERENCE TO BANKING

INDUSTRY

GROSS DOMESTIC PRODUCT (GDP)-GDP REFERS TO THE MARKET VALUE OF ALL FINAL GOODS & SERVICES PRODUCED WITHIN A COUNTRY IN A GIVEN PERIOD.IT IS OFTEN CONSIDERED AS THE COUNTRY’S STANDARD OF LIVING.

INCOME TAX-IT IS A DIRECT TAX PAID TO THE CENTRAL GOVERNMENT ON PERSONAL INCOME BY AN INDIVIDUAL OR A COMPANY WITHIN A GIVEN FINANCIAL YEAR.

SERVICE TAX-IT IS AN INDIRECT TAX LEVIED ON SERVICES RENDERED BY A PERSON AND THE RESPONSIBILITY OF PAYMENT OF THE TAX IS CAST ON THE SERVICE PROVIDER.WAS INTRODUCED IN INDIA BY THE FINANCE ACT, 1994.

VALUE ADDED TAX-IT IS AN INDIRECT TAX ON THE CONSUMPTION OF THE GOODS,PAID BY THE ORIGINAL UPON THE CHANGE IN GOODS OR UPON THE TRANSFER OF THE GOODS TO ITS ULTIMATE CONSUMER.IT IS BASED ON THE VALUE OF THE GOODS, ADDED BY THE TRANSFEROR AND NOT JUST A PROFIT.

WEALTH TAX-IT IS A DIRECT TAX LEVIED ON THE BENEFITS DERIVED FROM PROPERTY OWNERSHIP.THE TAX IS TO BE PAID YEAR AFTER YEAR ON THE SAME PROPERTY ON ITS MARKET VALUE, WHEATHER OR NOT SUCH PROPERTY YEILD ANY INCOME.

NUMBERS OF CURRENCIES ARE USED IN THE REAL EFFECTIVE EXCHANGE RATE-36.

DURING 2ND FIVE YEAR PLAN THE KHADI AND VILLAGE INDUSTRIES COMMISSION WERE ESTABLISHED.

IN 1991 INDUSTRIAL LICENSING WAS ABOLISHED IN INDIA. LERMS WAS LAUNCHED IN INDIA IN THE YEAR-1992. LERMS-LIBERIZED EXCHANGE RATE MANAGEMENT SYSTEM. THE TERM ‘RESERVE REPLACEMENT RATIO’ IS MOST COMMONLY

USED IN-OIL & GAS INDUSTRY. ‘THE DOING BUSINESS REPORT’ IS PREPARED BY THE WORLD

BANK EVERY YEAR. MANY A TIMES WE READ A TERM IN FINANCIAL NEWSPAPERS GDR,

THE FULL FORM OF IT IS-GLOBAL DEPOSITORY RECEIPTS. THE ORGANIZATION KNOWWN AS MARKET REGULATORY IN INDIA

IS-SEBI. SEBI-SECURITIES AND EXCHANGE BOARD OF INDIA. SEBI WAS ESTABLISHED IN 1992 BY SEBI ACT. U.K SINHA IS THE CHAIRMAN OF SEBI.

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2 INDIA IS SAUGHT ASSISTANCE WORTH USD 1 BILLION FROM

WORLD BANK FOR ENSURING 24/7 WATER SUPPLY IN ABOUT 10 CITIES.

WORLD BANK APPROVES US $ 150 MILLION FOR INDIA’S NeGP. NeGP-NATIONAL e-GOVERNANCE PLAN. WORLD BANK APPROVES US$ 1 BILLION TO CLEAN GANGA. CENTRAL BANK OF INDIA LAUNCHED ‘DOOR STEP BANKING

SERVICE IN INDIA. IMF-INTERNATIONAL MONEYTARY FUND. IMF’S HEAD QUARTER IS SITUATED IN WASHINGTON DC. IMF EXPECTS THE GDP GROWTH AT 8.8%. THE CRISIL’S REVISED FORECAST FOR INDIA’S GDP IN 2011-2012 IS-

8.6%. SURGING GLOBAL OIL PRICES AND RBI’S TIGHT MONETARY

POLICY PROMTED THE ADB TO LOWER ITS GROWTH FORECAST FOR THE INDIAN ECONOMY TO 8.2%.

CREDIT RATING AGENCY FITCH DOWNGRADED INDIAN ECONOMY’S GROWTH PROJECTION TO 8.3% FOR 2011-12.

GROWTH IN INDIA IS EXPECTED TO BE MODERATE BUT REMAIN ABOVE TREND, WITH GDP GROWTH PROJECTED 8.25% IN 2011 & 7.75% IN 2012, IMF FORECAST.

ECONOMY EXPECTED TO GROW AT 8.6% IN 2010-11 AND 9.0% IN 2011-12.

AGRICULTURE EXPECTED TO GROW AT 5.4% IN 2010-11 AND 3.0% IN 2011-12.

INDUSTRY EXPECTED TO GROW AT 8.1% IN 2010-11 AND 9.2% IN 2011-12.

SERVICES EXPECTED TO GROW AT 9.65 IN 2010-11 AND 10.3% IN 2011-12.

900 BRANCHES HAVE TO BE OPENED BY BANK OF BARODA BY THE END OF FISCAL YEAR 2011-2012.

THE INCREASE HAS BEEN REGISTERED BY RAILWAY REVENUE EARNING DURING APRIL 2010-JANUARY 2011 IS-7.77%.

COMMODITYWISE RAILWAY FREIGHT REVENUE EARNING DURING APRIL 2010-JANUARY 2011 IS-6.88%.

SUDHIR CHANDRA IS THE NEW CHAIRMAN OF THE APEX DIRECT TAX BOARD.

CBDT-CENTRAL BOARD OF DIRECT TAXES. DTAA-DOUBLE TAXATION AVOIDANCE AGREEMENT. INDIA SIGNED A DTAA WITH GERMANY, ETHIOPIA, MOZAMBIQUE,

COLOMBIA, SINGAPORE.

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3 INDIA & MALAYSIA SIGNS MOU IN THE FIELD OF HIGHWAY

MANAGEMENT & DEVELOPMENT. MOU ON MUTUAL UNDERSTANDING AND COOPERATION IN THE

FIELD OF ELECTIONS BETWEEN THE ELECTION COMMISSION OF INDIA AND THE CENTRAL ELECTION COMMISSION OF THE RUSSIAN FEDERATION.

INDIA & RUSSIA HAD SIGNED AN AGREEMENT TO SHARE HIGH PRECISION SIGNALS FROM THE GLONASS FOR DEFENCE AS WELL AS CIVILIAN USE.

INDIA & RUSSIA HAD AGREED TO CONSIDER PUTTING IN PLACE A CECA IN ORDER TO PUSH THE BILATERAL TRADE TO $20 BILLION BY 2015.

GLONASS-GLOBAL NAVIGATION SATELITE SYSTEM. CECA-COMPREHENSIVE ECONOMIC COOPERATION AGREEMENT. INDIA OVERTAKES CHINA AS MOST ATTRACTIVE MARKET FOR

JAPANES FIRMS. BRIC COUNTRIES ARE EXPECTED TO CONTRIBUTE ONE THIRD OF

THE WORLD’S GDP INCREMENT IN 2015, BY WHICH THEIR TOTAL ECONOMY WILL SURPASS AMERICA ACCORDING TO CHINESE THINK TANK.

DRIVEN BY PRODUCTIVITY ENHANCEMENT & INFRASTRUCTURE DEVELOPMENT, INDIA IS EXPECTED TO OUTPACE ASIAN DRAGON CHINA AND BECOME THE FASTEST GROWING ECONOMY BY 2015, ACCORDING TO ICICI BANK REPORT.

ACCORDING TO THE INTERNATIONAL MONETARY FUND’S PREDICTION, CHINA’S ECONOMY WILL EXCEED THE US’S IN 2016.

GLOBAL BAMKING GIANT STANDERD CHARTERED TODAY SAID INDIA COULD IMERGE AS THE WORLD,S 3RD LARGEST ECONOMY BY 2030.

INDIA TO BE AMONG TOP LIFE INSURANCE MARKETS BY 2020. INDIA RECEIVES FOREIGN TOURISTS IN 2010 WITH A GROWTH

RATE OF 24.2%. FTA - FOREIGN TOURIST ARRIVAL. AGRICULLTURE & ALLIED SECTORS RECORD 4.4% GROWTH RATE

IN 2ND QUARTER JULY-SEPTEMBER 2010. A MINISTRY OF FINANCE, GOVERNMENT OF INDIA RECOGNIZED

AADHAAR NUMBER ISSUED BY UIDAI AS AN ‘OFFICIALLY VALID DOCUMENT’ TO SATISFY THE KYC NORMS FOR OPENING BANK ACCOUNTS.

UIDAI – UNIQUE IDENTIFICATION AUTHORITY OF INDIA. KYC – KNOW YOUR CUSTOMER.

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4 DOP-DEPARTMENT OF POST SIGNED A STATEMENT OF INTENT

WITH UIDAI IS TO FORGE STRATEGIC ALLIANCE TO CREATE VALUE FOR BOTH DOP & UIDAI & FOR THE RESIDENTS OF INDIA.

CHAIRMAN OF UIDAI IS NANDAN NILEKANI. THE DOP WILL SOON LAUNCH A PRE-PAID SMART CARD THAT CAN

BE USED AS A DEBIT CARD. IDBI BANK ALONG WITH THE TECHNOLOGY PARTNER ORACLE

WINS ASIAN BANKER TECHNOLOGY IMPLEMENTATION AWARD 2011.

UNION BANK HAS BEEN AWARDED ‘CERTIFICATE OF RECOGNITION’ FOR EXCELLENCE IN CORPORATE GOVERNANCE AT THE 10TH ICSI NATIONAL AWARD 2010.

ICSI-INSTITUTE OF COMPANY SECRETARIES OF INDIA. ICSI A PREMIER PROFESSIONAL BODY & UNITED STOCK

EXCHANGE OF INDIA (USE) HAVE SIGNED AN MOU FOR EXCHANGE OF INFORMATION, CONSULTATION & COOPERATION.

USE IS THE INDIA’S NEWEST STOCK EXCHANGE. NATIONAL STOCK EXCHANGE IS THE 9TH LARGEST STOCK

EXCHANGE IN THE WORLD. THE WORLD BANK APPROVED A USD 1.5 BILLION CREDIT & LOAN

FOR PMGSY AIMED TOWARDS IMPROVING RURAL ACCESSIBILITY OF ROADS.

PMGSY – PRADHAN MANTRI GRAM SADAK YOJANA. THE KARUR VYSYA BANK ADJUDGED AS ‘BEST SMALL BANK’ BY

BUSINESS WORLD, IN ASSOCIATION WITH PWC. SBI PLANS TO OPEN 30 NEW OVERSEAS OFFICES IN 2011. ICAI – ISTITUTE OF CHARTERED ACCOUNTANTS OF INDIA AWADED

17 COMPANIES FOR EXCELLENCE IN FINANCIAL REPORTING FOR THE YEAR 2009-2010.

IN THE CATEGORY OF BANKING SECTOR, GOLD – HDFC BANK, SILVER - ICICI BANK.

IN THE CATEGORY OF INSUREANCE SECTOR, GOLD – SBI LIFE, SILVER – BIRLA SUN LIFE.

ICICI BANK TIES UP WITH NIIT FOR MBA COURSES. ICICI BANK IS THE INDIA’S LARGEST PRIVATE SECTOR BANK. ICICI BANK & INDIAN ARMY SIGNS A MOU FOR BANKING SERVICES

& PRODUCTS TO THE ARMY PERSONNEL. SOFTWARE GIANT APPLE HAS EMERGED AS THE WORLD’S MOST

VALUABLE BRAND SURPASSING GOOGLE, WHILE ICICI BANK IS THE ONLY INDIAN COMPANY TO FEATURE IN THE LIST OF TOP 100 GLOBAL BRANDS, RANKED AT THE 53RD POSITION.

RBI IN INDIA PERFORMS THE DUTIES OF CENTRAL BANK.

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5 RBI ALLOWS 7 MORE BANK TO IMPORT GOLD & SILVER. MANY REGIONAL RURAL BANKS ARE GIVEN LICENCE TO OPEN

BRANCHES IN SMALL CITIES & TOWNS, THESE LICENCE ARE GIVEN BY RBI.

THE GOVERNOR OF RBI IS D. SUBBARAO. RBI WAS NATIONALIZED IN 1949. RBI WILL CIRCULATE COINS OF Rs5 ON MOTHER TERESA ON HER

BIRTH CENTENARY. RBI HAS LAUNCHED Rs 150 COIN ON THE OCCASION OF 150TH

ANNIVERSARY YEAR OF TAGORE. RBI WILL HAVE SUB-OFFICES IN ALL THE CAPITAL STATES OF

NORTH EAST, STARTING WITH AGARTALA. ASIAN FINANCIAL CRISIS OF 1997 STARTED FROM THAILAND. ALLAHABAD BANK IS THE INDIA’S OLDEST JOINT STOCK BANK. IN 1959 NATIONLIZATION OF SBI SUBSIDIARIES TOOK PLACE. UNDER THE PROGRAM MGNREGA MINISTRY OF RURAL

DEVELOPMENT HAS INCREASED 17-30%WAGES, WHICH WILL BE EFFECTIVE FROM 01.01.2011.

MGNREGA- SONIA GANDHI, CHAIRPERSON OF UPA HAS LAUNCHED A SPECIAL

CAMPAIGN SWABHIMAAN FOR FINANCIAL INCLUSION TO BRING BANKING TO THE MASSES ON FEBRUARY 10, 2011.

TO COVER 73000 UNBANKED RURAL HABITATIONS WITH OVER 2000 POPULATIONS.

OPENING 5 CRORE NEW BANK ACCOUNTS. PROVIDING BRANCHLESS BANKING THROUGH TECHNOLOGY. ENSURING SAFE AND SECURE BANKING. BANKING AT THE DOOR STEP THROUGH BUSINESS

CORRESPONDENTS (BANK SAATHI). J&K BANK LAUNCH ‘APPLE ADVANCE SCHEME’ TO ENSURE

TIMELY & ADEQUATE CREDIT TO APPLE GROWERS. IOB-INDIAN OVERSEAS BANK IS PLANNING TO INCREASE ITS

BRANCHES TO 3000 & ACHIEVE SAME NUMBER OF ATMs ACROSS THE COUNTRY BY THE NEXT FISCAL YEAR.

ADB-ASIAN DEVELOPMENT BANK. THE HEADQUQRTERS OF ADB IS AT MANILA. ELECTRICITY IN RURAL AREAS COVERING 12000 HOUSEHOLDS IN

REMOTE VILLAGES WILL BE LIGHTED UNDER A US$ 120 MILLION ADB LOAN.

ADB WILL PROVIDE US$ 250 LOAN FOR INFRASTRUCTURE FINANCING PROJECT IN INDIA.

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6 ADB WILL PROVIDE US$ 150 IN CREDIT TO UP INDIA’S SOLAR

POWER USE. ASIA TO ACCOUNT FOR OVER 50% OF GLOBAL GDP BY 2050 SAYS

ADB. THE INDIAN CCONOMY GREW AT 8% DURING THE FINANCIAL

YEAR ENDED MARCH 2010, HIGHER THAN 7.4% ESTIMATED EARLIER, DRIVEN BY MANUFACTURING & SERVICES SECTOR.

PER CAPITA INCOME OF INDIANS GREW BY 14.5% TO Rs 46492 IN 2009-2010 FROM Rs 40605 IN THE PREVIOUS PERIOD.

PER CAPITA INCOME OF INDIANS GREW BY 17.9% TO Rs 54835 IN 2010-2011 FROM Rs 46492 IN THE PREVIOUS PERIOD.

PER CAPITA INCOME MEANS EARNINGS OF EACH INDIAN IF THE NATIONAL INCOME IS EVENLY DIVIDED AMONG COUNTRY’S POPULATION.

LATEST JAPANESE GOVERNMENT ESTIMATES SHOW THAT CHINA HAS OVERTAKEN JAPAN AS THE WORLD’S 2ND LARGEST ECONOMY.

WORLD’S 10 LARGEST ECONOMY-US, CHINA, JAPAN, GERMANY, FRANCE, UK, ITALY, BRAZIL, CANADA, RUSSIA.

THE GOVERNMENT WILL INFUSE 150 BILLION RUPEES INTO THE SBI THROUGH ITS RIGHT ISSUE.

SBI HAS ALSO ASKED FOR CAPITAL INFUSION OF 250 BILLION RUPEES FOR NEXT 2 FISCAL YEARS FROM THE GOVERNMENT.

SBI IS THE LARGEST LENDER BANK. PRATIP CHOUDHARY HAS BEEN APPOINTED AS THE NEW

CHAIRMAN OF SBI. SBI ANNOUNCED THE WITHDRAWAL OF SPECIAL HOME LOAN

SCHEMES OR TEASER RATES WITH EFFECT FROM 1ST MAY, 2011. SBI INDICATED MERGING EITHER STATE BANK OF PATIALA OR

STATE BANK OF HYDERABAD WITHITSELF BY EARLY NEXT FISCAL AS PART OF THE ONGOING CONSOLIDATION PROCESS.

SUSHMA NATH IS THE INDIA’S 1ST WOMAN FINANCE SECRETARY. THE VALIDITY PERIOD OF KISHAN CREDIT CARD IS 3 YEARS. A BUDGETARY PROVISION OF Rs 253.06 CRORE HAS BEEN MADE

FOR RESEARCH $ DEVELOPMENT IN NEW & RENEWABLE ENERGY FOR THE 1ST 4 YEARS OF THE 11TH 5 YEAR PLAN OF THE MNRE.

MNRE-MINISTRY OF NEW & RENEWABLE ENERGY. GOVERNMENT APPROVES 6% HIKE IN DEARNESS ALLOWANCE

BENEFITING CENTRAL GOVERNMENT EMPLOYEES & PENSIONERS. AT KANDALA, ASIA’S 1ST EPZ WAS SET UP IN 1965. EPZ-EXPORT PROCESSING ZONE. ANAND SHARMA, UNION MINISTER OF COMERCE & INDUSTRY

RELEASED THE DRAFT STATEGY PAPER FOR DOUBLING EXPORTS.

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7 INDIA’S EXPORT WILL TOUCH US $ 450 BILLION BY 2014 & EXPORTS

DURING 2010-11 WILL REACH US $ 225 BILLION. EEPC SET A TARGET OF TRIPLING ENGINEERING EXPORTS OF US $

12O BILLION BY 2015. EEPC-ENGINEERING EXPORT PROMOTION COUNCIL. FTPB-FOREIGN TRADE PROMOTION BOARD. FIPB-FOREIGN INVESTMENT PROMOTION BOARD. EXPORT GROWS 32.5% AT US $ 20.6 BILLION IN JANUARY 2011. FIMI-FEDRATION OF INDIAN MINERAL INDUSTRY. INDIA HAS EMERGED AS THE TOP 10 MANUFACTURERS OF THE

WORLD, PRIMARILY HELPED BY STRONG ECONOMIC GROWTH, ACCORDING TO AN UN AGENCY NAMED UNIDO.

UNIDO-UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANISATION.

NSIC SIGNED MOU WITH BANK OF INDIA FOR EASY AND HASSEL FREE CREDIT.

NSIC-NATIONAL SMALL INDUSTRIES COOPERATION. THE TOTAL NO. OF BRANCHES OF 32 FOREIGN BANKS OPERATING

IN INDIA AS ON MARCH 2010 STOOD AT 306, WHICH IS A SMALL RISE OF 4.4%.

GOVERNMENT APPROVES 9.5% INTEREST ON PF DEPOSITS FOR 2010-11.

EPFO-EMPLOYEES PROVIDENT FUND ORGANISATION. IAMAI SAYS INDIA E-COMMERCE MARKET TO CROSS 46000 CRORE

WITH THE GROWTH RATE OF 47% IN THE 2011 CALENDER YEAR. IAMAI-INTERNET AND MOBILE ASSOCIATION OF INDIA. THE REPO RATE (SHORT TERM LENDING RATE) INCREASED UNDER

THE LAF BY 25 BASIS POINTS FROM 7.25% TO 7.50%.(MID QUARTER REVIEW OF MONETARY POLICY JUNE 2011)

THE REVERSE REPO RATE (SHORT TERM BORROWING RATE) INCREASED UNDER THE LAF BY 25 BASIS POINTS FROM 6.25% TO 6.50%.(MID QUARTER REVIEW OF MONETARY POLICY JUNE 2011)

THE REPO RATE (SHORT TERM LENDING RATE) INCREASED UNDER THE LAF BY 50 BASIS POINTS FROM 7.50% TO 8.00%%.(1ST QUARTER REVIEW OF MONETARY POLICY 2011)

THE REVERSE REPO RATE (SHORT TERM BORROWING RATE) INCREASED UNDER THE LAF BY 50 BASIS POINTS FROM 6.50% TO 7.00%.(1ST QUARTER REVIEW OF MONETARY POLICY 2011)

LAF-LIQUIDITY ADJUSTMENT FACILITY. REVERSE RAPO RATE TO BE FIXED 100 BPS LOWER THAN THE REPO

RATE.

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8 MARGINAL STANDING FACILITY (MSF) RATE TO BE FIXED 100 BPS

UPPER THAN THE REPO RATE. RESERVE RATIOS:-CRR (CASH RESERVE RATIO)-6.0%,

SLR (STATUTORY LIQUIDITY RATIO)-24.0%. BANK RATE AT PRESENT IS 6%. AS PER RBI NEW MONETARY POLICY 2011-12 INTEREST RATES ON

SAVINGS BANK DEPOSIT HIKED TO 4% FROM 3.5%. CMIE-CENTRE FOR MONITORING INDIAN ECONOMY. B. MUTHURAMAN IS THE NEW PRESIDENT OF FICCI. GARSH C. MARIWALA IS THE NEW PRESIDENT OF FICCI. RAJIV KUMAR IS THE NEW SECRETARY GENERAL OF FICCI. FICCI- FRP-FAIR AND REMUNERATIVE PRICE. 500 CRORE HAS BEEN ALLOCATED TO THE NATIONAL SKILL

DEVELOPMENT FUND IN THE UNION BUDGET 2011-12. SUKHI GRIHA SCHEME HAS BEEN LAUNCHED UNDER RAIL BUDGET

2011-12 ON PILOT BASIS TO PROVIDE 10000 DWELLING UNITS TO POOR PEOPLE WHO LIVE NEAR RAILWAY TRACK.

ACCORDING TO UNION BUDGET 2011-12, 500 CRORE HAS BEEN ALLOCATED FOR RECAPITALIZATION OF RRBs.

RRB-RURAL DEVELOPMENT BANK. HDFC IS THE ONLY INDIAN COMPANY FIGURING IN A NEW YORK

CITY THINK TANK’S 5TH ANNUAL LIST OF WORLD’S MOST ETHICAL COMPANIES.

THE NATIONAL FLOOR LEVEL MINIMUM WAGE HAS BEEN REVISED FROM Rs 100 TO Rs 115 PER DAY WITH EFFECT FROM 1ST APRIL, 2011.

7 POST OF INDIRECT TAX OMBUDSMAN HAS BEEN APPROVED TO BE CREATED BY UNION CABINET.

ISRO BUILT INDIA’S FASTEST COMPUTER SAGA-220. ASHA-ACCREDITED SOCIAL HEALTH ACTIVIST. HUPA-HOUSING AND URBAN PROVERTY ALLEVIATION. NOBEL LAUREATE MUHAMMAD YUNUS HAS RESIGNED AS THE MD

OF GRMEEN BANK, AFTER BANGLADESH SUPREME COURT DISMISSED HIS APPEAL TO REMAIN AS HEAD OF THE PIONEERING MICRO-LENDING AGENCY HE FOUNDED NEARLY 3 DECADES AGO.

NABARD WAS ESTABLISHED IN 6TH 5 YEAR PLAN. THE DIRECT TAX CODE BILL, 2010 WAS INTRODUCED IN

PERLIAMENT IN AUGUST, 2010. THE NEW CHAIRMAN OF NASSCOM IS RAJENDRA S. PARWAR. MINIMUM SUPPORT PRICE IS RECOMMENDED BY CACP. THE BASE FOR CALCULATION OF INFLATION UNDER WHOLESALE

PRICE INDEX IS 100.

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9 IIP-INDEX OF INDUSTRIAL PRODUCTION. IRR-INTERNAL RATE OF RETURN. MFI-MICRO FINANCE INSTITUTION. THE PRESENT BANK NOTES WITH YHE NEW RUPEE SYMBOL

APPROVED BY UNICODE STANDARD AUTHORITY FOR ISO 4217 WILL BE IN CIRCULATION SHORTLY.

AUSTRALIA & NEW ZEALAND BANKING GROUP Ltd (ANZ) OPENED ITS 1ST BRANCH OPERATION IN MUMBAI.

NATIONAL INCOME IS THE NNP AT MARKET PRICE. THE BASE YEAR FOR ASSESSMENT AT FACTOR COST IS 2004-2005. SUNIL MITRA IS THE FINANCE SECRETARY OF INDIA. THE 1ST EVER POST INDEPENDENCE SOCIO-ECONOMIC & CASTE

CENSUS 2011 BEGAN FROM SANKHOLA VILLEGE, TRIPURA. IT IS A DOOR TO DOOR CENSUS IN THE ENTIRE COUNTRY TO

IDENTIFY THE HOUSEHOLD LIVING BELOW THE PROVERTY LINE. GOVERNMENT ALLOWS DUTY FREE IMPORT OF VEGETABLES,

FRUITS FROM DHAKA. LIC & AXIS BANK HAVE SIGNED AN AGREEMENT TO OFFER CREDIT

CARD SERVICES TO THE CUSTOMERS & EMPLOYEES OF LIC. SALARIED TAXPAYERS WITHTOTAL INCOME UPTO Rs 5 LAKH

EXEMPTED FROM FILLING INCOME TAX RETURN FOR ASSESSMENT YEAR 2011-12.

GROSS DIRECT TAX COLLECTIONS DURING THE 1ST QUARTER OF CURRENT FISCAL (APRIL-JUNE 2011) UP BY 23.91%.

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