(SBI PO Sample Material) Reasoning : Sitting Arrangement (MCQs)

Directions (Q. Nos. 1 to 2) Read the information given below and then answer the questions that follow

Eight friends A, B, C, D, E, F, G and H are sitting in a circle facing the centre. B is sitting between G and D. H is third to the left of B and second to the right of A. C is sitting between A and G and B and E are not sitting opposite to each other.

1. Who is third to the left of D?

(1) F (2) E
(3) A (4) G
(5) None of these

(SBI PO Sample Material) Reasoning : Alphabet Test (MCQs)

Directions (Q. No. 1-2): In each of the following Questions, four words are given which of them will come in the second if all of them are arranged alphabetically as in dictionary?

1. (1) Bishop (2) Bifocal
(3) Bicycle (4) Bitter
(5) None of these

2. (1) Parasite (2) Party
(3) Petal (4) Paste
(5) None of these

3. Two letters in the word COUPLE have as many letters between them as in the alphabet. The letter which appears first in the alphabet is the answer. If there is no such pair of letters in the work, then mark your answer as X.

(1) L (2) O
(3) P (4) X
(5) None of these

Directions (Q. Nos. 4 - 5) In each of the following questions, four words are given. Which of them will come in the second place of all of them arranged alphabetically as in a dictionary?

4. (1) Cruise (2) Crupper
(3) Crusade (4) Crumb
(5) None of these

(SBI PO Sample Material) Marketing Knowledge : Marketing : Nature and Scope (MCQs)

1. Online marketing is the function of which of the following:

(1) Purchase Section
(2) Production Department
(3) IT Department
(4) Design Section
(5) A collective function of all staff

2. The key challenge to market-driven strategy is:

(1) Selling maximum products
(2) Employing maximum DSAs
(3) Delivering superior-value to customers
(4) Being rigid to changes
(5) Adopting short-term vision

3. Generation of sales leads can be improved by:

(1) Being very talkative
(2) Increasing personal and professional contacts
(3) Being passing
(4) Engaging recovery agents
(5) Product design

4. Marketing channels mean:

(1) Delivery objects
(2) Sales targets
(3) Delivery outlets
(4) Delivery boys
(5) Sales teams

5. Service marketing is the same as:

Banking and Financial News – 09 May 2014

RBI to Issue Guidelines for On-Tap Banking Licences in FY15: Deputy Governor (NDTV Profit) - Reserve Bank of India (RBI) Deputy Governor R. Gandhi on Thursday said the apex bank is likely to issue guidelines for issuing of "on-tap" bank licences in 2014-15. The comment comes a month after the RBI granted two preliminary licences to set up new banks. Alongside, the RBI is also expected to issue guidelines on differentiated bank licences in the current financial year, Mr Gandhi added.On-tap licensing means that the RBI window for granting banking licences will be open through the year.

Last month, the RBI gave bank licences to IDFC Ltd, and Bandhan Financial Services, opening the door for allowing new banks for the first time since 2004.

India’s April trade deficit narrows to $10.01 billion (The Mint) - India’s merchandise exports bounced back in April after declining for two consecutive months while a drop in imports helped narrow the trade deficit and ease pressure on the external sector and the rupee. During April, merchandise exports grew 5.26% to $25.6 billion, while imports shrank 15% to $35.7 billion, leaving a trade deficit of $10.1 billion. A pick-up in exports and curbs on gold imports helped India to rein in its current account deficit in the second and third quarters of 2013-14. India’s current account deficit narrowed to 0.9% of gross domestic product (GDP) in the quarter ended December, from 1.2% of GDP in the preceding quarter.

A large trade deficit made the Indian economy vulnerable to external sector shocks and saw the Indian currency touching a record low of almost 69 per dollar in August.

Important Financial Terms in the News explained.

Banking and Financial News – 08 May 2014

Reliance Industries, SBI, 52 other Indian firms among world's most powerful public Cos (Financial Express) - Mukesh Ambani-led Reliance Industries leads the pack of 54 Indian companies in The Forbes 'Global 2000' - Forbes' annual list of the world’s 2000 largest and most powerful public companies. Reliance Industries ranked 135 on the list is followed by State Bank of India which is ranked 155. State-controlled Chinese bank ICBC holds onto its number 1 spot

You can get a credit score even if you don’t have any loans (The Mint) - Credit scores were till recently assigned to those people who have taken loans in the past. But now even those who have never taken a loan can get a credit score. This is one of the two changes that have taken place in credit scores based on suggestions by a Reserve Bank of India committee in its report Data Format for Furnishing of Credit Information to Credit Information Companies, which was released on 22 March 2014. The second change has to do with uniform representation of credit scores. It was suggested that all credit information companies (CIC) report credit scores in the range of 300-900, as is the standard practice at Credit Information Bureau (India) Ltd, or Cibil, the country’s largest CIC.

Government to Defend Vodafone Arbitration Notice: Chidambaram (NDTV Profit) - The government will defend a notice for arbitration from Vodafone Group Plc in a more than $2 billion tax dispute, Finance Minister P. Chidambaram said on Thursday. Vodafone had filed for an international arbitration against the Indian government, after the two sides failed to find a solution to the long-running tax dispute through talks. The tax dispute stems from Vodafone's acquisition of Indian mobile assets from Hutchison Whampoa in 2007. In 2012, the Supreme Court ruled that Vodafone was not liable for payment of any tax on the acquisition. The government later that year changed the rules to enable it to tax deals that had already been concluded. Uncertainties over policy in India have unsettled investors, and tax claims on foreign companies have been a major concern. IBM Corp, Royal Dutch Shell Plc and Nokia Oyj are among foreign firms contesting local tax claims.

Important Financial Terms in the News explained.

(SBI PO Sample Material) Data Interpretation : Pie Chart (MCQs)

Directions : Study the following pie-diagrams carefully to answer these questions:

Number of students studying in different faculties in the years 2011 and 2012 from 

State X
Year-2011
Total Students - 35000

1. In which faculty there was decrease in the number of students from 2011 to 2012?

(1) None (2) Arts
(3) Agriculture (4) Pharmacy
(5) Data Inadequate

2. What is the ratio between the number of students studying pharmacy in the years 2011 and 2012 respectively?

(1) 4 : 3 (2) 3 : 2
(3) 2 : 3 (4) 7 : 12
(5) Data Inadequate

3. What was the approximate percentage increase in the number of students of Engineering from the year 2011 to 2012?

(1) 17 (2) 15
(3) 25 (4) 20
(5) Data Inadequate

4. In the year 2011, the number of students studying Arts and Commerce together is what percent of the number of students studying these subjects together in 2012?

(1) 76 (2) 85
(3) 82 (4) 79
(5) Data Inadequate

(SBI PO Sample Material) Reasoning : Logical Venn Diagrams (MCQs)

Directions : In the following diagram, the circle represents College Professors, the triangle stands for Surgical Specialists, and Medical Specialists are represented by the rectangle.

1. College Professors who are also Surgical Specialists are represented by

(1) A (2) B
(3) C (4) D
(5) None of these

Directions (2-3) : Study the diagram given below to answer these questions:

The triangle in the above figure depicts women in villages, the square depicts the unemployed women and the circle depicts the educated women.

2. Educated employed women in villages are represented by

(1) D (2) E
(3) F (4) G
(5) None of these

3. What does letter D represent?

(1) Uneducated women in villages
(2) Unemployed women in villages who are not educated
(3) Educated unemployed women
(4) Educated employed women
(5) None of these

Directions (4-6) : The following questions are based on the diagram given below :

(1) Rectangle represents males
(2) Triangle represents educated
(3) Circle represents urban
(4) Square represents civil servants.
(5) None of these

4. Who among the following is an educated male who is not an urban resident?

(1) 4 (2) 5
(3) 9 (4) 11
(5) None of these

5. Who among the following is neither a civil servant nor educated but is urban and not a male.

(SBI PO Sample Material) Reasoning : Direction Sense Test (MCQs)

1. From his house, Lokesh went 15 kms to the North. Then he turned West and covered 10 kms. Then, he turned South and covered 5 kms. Finally, turning to East, he covered 10 kms. In which direction is he from his house?

(1) East (2) West
(3) North (4) South
(5) None of these

2. A child is looking for his father. He went 90 metres in the East before turning to his right. He went 20 metres before turning to his right again to look for his father at his uncle's place 30 metres from this point. His father was not there. From here he went 100 metres to the North before meeting his father in a street. How far did the son meet his father from the starting point?

(1) 80 metres (2) 100 metres
(3) 140 metres (4) 260 metres
(5) None of these

3. City ‘M’ is situated East of city ‘N’. City ‘O’ is situated South of city ‘N’. City ‘P’ is situated North of City ‘O’. In which direction city ‘N’ is situated with respect of city ‘P’ ?

(1) North (2) South
(3) East (4) West
(5) None of these

4. Nidhi started from point ‘X and preceeded 14 km straight towards West, then she turned twice right and proceeded straight for a distance of 12 km, and then turned right again and proceeded straight for another 20 km. In which direction is Nidhi from his starting point ‘X”?

(1) South-East (2) North
(3) South-West (4) South
(5) None of these

5. After walking 3 km, Om turned left and travelled a distance of 1 km, then turned right and covered a distance of 5 km. In the end he was moving towards the South. From which direction did Om start his journey ?

(1) East (2) West
(3) North (4) South
(5) None of these

Banking and Financial News – 07 May 2014

Pranab Mukherjee to dedicate indigenous payment card RuPay to nation (dna) – Rupay, an indigenous payment card, will be dedicated to the nation on Thursday 8 May. Rupay (coinage of the terms Rupee + Payment), has been developed by National Payments Corporation of India (NPCI), a not-for-profit company envisioned by RBI and created by banking industry. RuPay card, launched on March 26, 2012, have been issued by more than 150 co-operative banks & Regional Rural Banks (RRBs). It is accepted at all ATMs (over 1,60,000), 95% Point-of-sales (POS) terminals and most e-commerce merchants. Kisan Card, a variant, is now issued by all public sector banks.

Paying bills on-time and keeping a track of them may now be easy - RBI had appointed an advisory committee to look into the mechanisms and structure of a nation-wide bill payment service. As per the observations made by the committee, cash and cheque payment modes still dominate the payment systems in India. With an aim of encouraging people for using electronic payment systems and lowering their dependence on cash, the committee recommended that pan-India integrated bill payment system should be developed. The committee further recommended that, a not-for-profit entity, Bharat Bill Payment System (BBPS) and a for-profit entity, Bharat Bill Payment Operating Units (BBPOUs), should be setup. Aforesaid entities would have distinctive roles. While BBPS would have to set standards and would be responsible for brand positioning, BBPOUs would carry out functions such as enlisting billers, providing infrastructure, handling transactions, customer grievances and providing value added services.

RBI tells banks not to levy prepayment charges on floating rate loans (The Mint) - The Reserve Bank of India (RBI) on Wednesday said banks cannot levy charges on individual customers if they choose to close their floating rate loans.

No Minimum balance penalty for dormant bank accounts. (The Hindu) - The Reserve Bank of India (RBI) on Tuesday told banks that they cannot levy penal charges for non-maintenance of minimum in any dormant or inoperative account.

Registration of 5 NBFCs cancelled. (The Hindu) - The Reserve Bank of India (RBI) has cancelled the certificate of Registration of five Non-Banking Financial Companies (NBFCs).

OECD lowers global growth forecast to 3.4%. (The Hindu) – According to the Paris-based Organisation for Economic Co-operation and Development (OECD), the world economy is projected to grow at 3.4% this year, lower than expected.

Kingfisher leads list of top defaulters. (The Hindu) – According to All India Bank Employees’ Association (AIBEA), who released the list of top bank defaulters, Kingfisher Airlines (Rs.2,673 crore) is the biggest defaulter to the Banking system. According to AIBEA, there has been a four-fold increase in bad loans (NPAs) in the past four years to Rs.1,64,000 crore in March 2013.

AirAsia Set for Takeoff in India, Gets Licence to Fly (NDTV Profit) - AirAsia India, the joint venture between Air Asia and Tata Group, is closer to starting its operations in India. The aviation regulator today issued air operator permit to the airline.

FTIL chairman Jignesh Shah arrested in NSEL fraud (The Mint) - The Mumbai police’s Economic Offences Wing (EOW) has arrested Jignesh Shah, chairman and group chief executive of Financial Technologies (India) Ltd, in connection with the Rs.5,574.34 crore fraud at National Spot Exchange Ltd (NSEL). The crisis at NSEL came to light on 31 July 2013, when the exchange suspended trading in all contracts. A spot exchange isn’t supposed to offer Futures Contracts, but NSEL was doing that.

Important Financial Terms in the News explained.

Floating Interest Rate: An interest rate that is allowed to move up and down with a benchmark index or with the market rates or along with an index. This contrasts with a Fixed Interest Rate, in which the interest rate on a loan or debt obligation (Bond) stays constant for the duration of the agreement. A floating interest rate can also be referred to as a variable interest rate because it can vary over the duration of the debt obligation.

Punjab National Bank

Joining Schedule for Specialist Officers under Common Recruitment Process-III of IBPS

(SBI PO Sample Material) Computer Knowledge : Input Devices (MCQs)

1. A floppy can be write-protected by

(1) Breaking the slider
(2) Positioning the slider to cover the hole
(3) Positioning the slider away from the hole
(4) A floppy cannot be write-protected.
(5) None of these

2. In which of the following kinds of disk does the read/write head physically touch the surface?

(1) Hard Disk (2) Compact Disk
(3) Floppy Disk (4) All the above
(5) None of these

3. Ctrl, Shift and Alt are called _______ Keys.

(1) Modifier (2) Function
(3) Alphanumeric  (4) Adjustment
(5) None of these

4. Which of the following will happen when data is entered into a memory location?

(1) It will be added to the content of the location.
(2) It will change the address of the memory location.
(3) It will erase the previous content.
(4) It will not be fruitful if there is already some data at the same location.
(5) None of these

5. To move to the beginning of a line of text, press _______ key?

(1) Home (2) Ctrl
(3) Space (4) Enter
(5) None of these

(General Awareness For Bank's Exams) Awards and Prizes

January, 2014

Bharat Ratna Award

The Government of India on 16 November 2013 decided to confer, the Bharat Ratna, the highestcivilian award on eminent scientist Prof CNR Rao and cricket player Sachin Tendulkar. Sachin Tendulkar is the first sports person to win the Bharat Ratna Award. The Bharat Ratna award so far, given only to eminent personalities from the field of dance, music, art, literature and the social sector. In the year 2011, the Government of India modified the eligibility criteria for Bharat Ratna Award - to enable eminent Sportspersons to receive the Nation’s highest civilian award.About Prof. CNR Rao

About Bharat Ratna award

• Bharat Ratna, the highest civilian Award of the country was instituted in the year 1954.

• It is awarded in recognition of exceptional service/ performance of the highest order in any field of human endeavour.

• The recommendations for Bharat Ratna are made by the Prime Minister himself to the President.

• The number of annual awards is restricted to a maximum of three in a particular year.

• The last recipient of Bharat Ratna award is Pandit Bhimsen Joshi in 2008.

• The first three Indians, who received the Bharat Ratna were Chandrasekhara Venkata Raman, Chakravarti Rajagopalachari and Sarvapali Radhakrishnan in 1954.

• There is no written provision that Bharat Ratna should be awarded to Indian citizens only.

• The award has been conferred to a naturalised Indian citizen Mother Teresa (1980) and to two non-Indians Khan Abdul Ghaffar Khan a n d Nelson Mandela (1990).

• The award does not carry any monetary grant.In terms of Article 18 (1) of the  Constitution, the award cannot be used as a prefix or suffix to the recipient’s name.

LIST OF RECIPIENTS OF BHARAT RATNA

EU’s Sakharov Human Rights Prize 2013

Malala Yousafzai, Pakistani teenage activist on 20 November 2013 received the EU’s Sakharov human rights prize for her brave crusade for the right of the children to education.

The European Parliament President Martin Schulz presented the award to the 16-year-old Malala at a ceremony in Strasbourg, France. Malala Yousafzai dedicated the award to “the unsung heroes of Pakistan” and to human rights campaigners worldwide. Malala was shot in the head in October 2012 for campaigning for better rights for girls in Swat Valley of northwest Pakistan, an erstwhile Taliban stronghold.

About Sakharov Prize

The Sakharov Prize for free speech is awarded by the European Parliament annually in memory of Soviet physicist and dissident Andrei Sakharov. The prize was set up in 1988 to honour individuals or  organisations for their efforts on behalf of human rights and fundamental freedoms.  The 50000-Euro prize isconsidered Europe’s top human rights award. In 2012 the award went to detained Iranians, lawyer Nasrin Sotoudeh and film maker Jafar Panahi, to honour those standing up for a better Iran. with this award Malala joins a distinguished list of winners of the prize that includes South Africa’s Nelson Mandela and Aung San Suu Kyi of Myanmar.

Indira Gandhi Prize for Peace 2013

Dr. Angela Merkel, German Chancellor on 19 November 2013 selected for Indira Gandhi Prize for Peace, Disarmament and Development for the year 2013. The International Jury for the Prize was chaired by the Prime Minister Dr. Manmohan Singh, which made this announcement on 19 November  2013 on the birth anniversary of Indira Gandhi. Dr. Angela Merkel is nominated for her exemplary leadership in Europe and the world
during the financial crises, her commitment to universal peace and disarmament and her leadership role  in strengthening productive and mutually beneficial relations with India and other developing countries.

About Angela Merkel

(General Awareness For Bank's Exams) In The News

January - 2014

Raj Jain: new CEO of Bharti Retail

Former Walmart India president Raj Jain will be heading the retail operations of Bharti Enterprises.

Bharti Retail had roped in Jain as its group advisor after the company split with world’s top retailer Walmart last year, but the company appointed him as the CEO.

Jain will report to Rajan Bharti Mittal, vice-chairman and managing director, Bharti Enterprises.

In fact, Jain will not be the first former Walmart India official to join Bharti Group.

Golf Digest 50 list

World number one Tiger Woods has cracked USD 1.3 billion in career earnings by leading the Golf Digest 50 with USD 83 million in income last year, the magazine reported on its website.

Woods, a 14-time major champion, topped the list for the 11th time in its 11-year history with $83,091,508, including an estimated $71 million off the course and more than $12 million in prize money.

The story says Woods' winnings of more than $155 million reflect less than 12 per cent of his career earnings, with $1.16 billion coming from endorsements since his pro debut in 1996, a figure that continues to increase even in the wake of an infamous sex scandal and ensuing divorce.

Banking and Financial News – 05 May 2014

SKS removes Vikram Akula, others from promoters list (The Mint) - India’s lone listed microlender SKS Microfinance Ltd said that founder Vikram Akula and three other entities are no longer counted among its promoters because they had exited from the company. Akula founded SKS as a non-profit organization in 1997 and converted it into a non-banking financial company in 2005. SKS listed on the stock exchange in August 2010.

RIL moves Delhi HC for quashing of FIR on gas pricing (The Mint) – Terming the first information report (FIR) by the erstwhile Aam Aadmi party (AAP) government on gas pricing as “motivated” and a “political” gimmick, Reliance Industries Ltd (RIL) moved the Delhi high court seeking its quashing on the ground that the issue fell within the domain of the centre and is well beyond the power of the state government. “The very act of registration of an FIR by the state government to inquire into the policy decision taken by the Union government is ultra-vires to the Constitution...and the respective field of their jurisdiction in the matters relating to the legislation and executive are clearly demarcated under the same. It is submitted that it does not permit encroachment by one authority upon the jurisdiction earmarked for another... any attempt by the state to inquire into the affairs of the Union (both on its legality or alleged criminality) is thus against the basic tenets of federal structure of Indian Constitution,” the plea said. The Arvind Kejriwal-led Delhi government had lodged an FIR naming petroleum minister M .Veerappa Moily, Mukesh Ambani and others on gas pricing issue and had alleged that the Congress-led UPA government “favoured” RIL with an eye on 2014 general election and BJP maintained “silence” hoping to gain corporate funding for the polls.

(SBI PO Sample Material) English Language and Comprehension : Parts of Speech / Sentence (MCQs)

1. Receptionists must be able to relay information ______ pass messages accurately.

(1) or (2) and
(3) but (4) because
(5) as

2. Monica is a member of the Historical Society ______ the Literary Society.

(1) as (2) or
(3) and (4) but
(5) with

3. Keep the food covered ______ the flies will contaminate it.

(1) or (2) and
(3) until (4) though
(5) yet

4. Sudipta ______ phoned ______ wrote after she left home.

(1) either, or (2) neither, nor
(3) while, and (4) though, or
(5) although, yet

5. Rajiv welcomed his guests ______ offered them drinks.

(1) and (2) while
(3) until (4) as
(5) when

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(General Awareness For Bank's Exams) Sports

January - 2014

The fastest centurion in ODIs

New Zealand all-rounder Corey Anderson scored the quickest century ever in international cricket on Wednesday, taking just 36 balls against West Indies to break the record long held by Pakistan's Shahid Afridi.

Afridi scored a 37-ball hundred against Sri Lanka in 1996 and had remained the fastest across all formats of the international game since.

Anderson, 23, brought up the mark with his 12th six of the innings after the third one-day international in Queenstown was reduced to a 21-over match due to rain.

Hockey World League tickets

Sale of tickets for the Hero Hockey World League (HWL) final, to be held at the National Stadium here from January 10 to 18, has started.

Tickets, which can be booked online at www.ticketgenie.in, have been priced at Rs. 50 each for general admission and Rs. 1000 for VIP seating.

Fans can also buy tickets from 16 ‘Twenty Four Seven’ retail stores and 14 Mobile Stores across Delhi and the National Capital Region.

India has been grouped with Germany, England and New Zealand in Pool ‘A’. Australia, Netherlands, Belgium and Argentina are placed in Pool ‘B’.

India will open its campaign against England (January 10), followed by New Zealand (January 11) and Germany (January 13).

India to host first Wimbledon tennis event

Former Great Britain No.1 Tim Henman will be in India to spearhead a new initiative aimed at boosting the development of junior tennis in the country. India will host the first Wimbledon tennis event outside the UK as 11-time-Tour winner Henman will be in Delhi and Mumbai later this month to launch ‘The Road to Wimbledon’ with a series of coaching clinics and events offering local children the chance to play at Wimbledon next August. The clinics are part of two Under-14 National singles events in Delhi (RK Khanna Tennis Centre) and Mumbai (MSLTA Tennis Centre). The top sixteen boys and girls from these two events are invited to the Wimbledon Foundation Junior Masters in Delhi in April with the two boys and two girls finalists invited to compete in the UK HSBC National Finals on the grass at Wimbledon.

Henman, who kick-started his career in India in 1994 with three successive tournament wins on the Indian satellite circuit, will be joined by All England Club Head Coach Dan Bloxham, for the activity in Delhi and Mumbai between January 6-14.The Wimbledon Foundation, the community, charitable and development arm of the All England Club and The Championships, Wimbledon, and HSBC have linked with All India Tennis Association (AITA) on this pilot scheme as the first phase of a long term plan to support the development of Indian tennis.

Asia Cup to be hosted by Bangladesh

The Asia Cup 2014 cricket tournament will be held in Bangladesh, despite the prevailing situation of the country.

The Asian Cricket Council sat in a meeting over the uncertainty of the event, scheduled to be hosted by Bangladesh, in view of the political situation.

After the meeting, Bangladesh was given the green signal to host the tournament. The schedule of the cricket tournament will remain unchanged.

Bangladesh Cricket Board President Nazmul Hassan and acting Chief Executive Officer Nizamuddin Chowdhury were present in the meeting.

Chennai Open Title

Stanislas Wawrinka’s has been a well documented struggle with self-confidence. For someone who has fought that as long and as hard as him, it is tough to throw out the demon forever. While the end of 2013 was the first step in banishing that, 2014 will be a year in which he would like to finally believe he is up there.

The quest for the same has started perfectly. A 7-5, 6-2 win over seventh seed Edouard Roger-Vasselin in the final on Sunday gave him his second Aircel Chennai Open title and his fifth overall.

One of Wawrinka’s problems in 2013 was that he found it tough to close out matches. After a nervy first set here it was important for the old ghosts not to return.

Fourth seeds Johan Brunstrom of Sweden and Frederik Nielsen of Denmark clinched the doubles title at the Aircel Chennai Open after defeating the unseeded Croatian pair of Mate Pavic and Marin Draganja 6-2, 4-6, 10-7.

The Scandinavian pair broke twice, in the sixth and the eight games, to take the first set 6-2 only for the Croats to level it at one set apiece by taking the second 6-4.

Brisbane title

Australia's Lleyton Hewitt delighted his home fans when he battled to a typically gutsy 6-1 4-6 6-3 victory over Swiss top seed Roger Federer in the Brisbane International final.

Federer, who led Hewitt 18-8 in meetings between the former world number ones going into the contest, committed 22 unforced errors on his way to being broken three times in the first set after reaching the final without dropping serve once.

The victory secured Hewitt's first ATP title since Halle in 2010 when he also beat Federer in the final, ending a 15-match losing run against his opponent.

The match was Federer's last competitive outing before the Australian Open begins on Jan. 13, where the Swiss will be seeking to add to his record 17 grand slam titles with a fifth Melbourne crown

MS Dhoni : captain in all three formats

Mahendra Singh Dhoni is not averse to the idea of continuing as the skipper of the the Indian cricket team in all the three formats, saying it would be unfair to burden a new player with the mantle of captaincy with just one year left for the World Cup.

Dhoni had, last year, said that he might have to give up a format to lead India's title defence in 2015 but such a decision would be made only at the end of 2013. Dhoni will be 33 by the time the World Cup starts in Australia and New Zealand.

World’s top junior shuttler: Aditya Joshi

Young shuttler Aditya Joshi from Madhya Pradesh has become the first male junior badminton player from India to be ranked top in the world.

Aditya, 17, recently got the number one slot in the January rankings of the World Badminton Federation (WBF).

Aditya was at the 11th position till November, but he managed to jump ahead of all the players by achieving 18,776 points.

(General Awareness For Bank's Exams) Science & Technology

January - 2014

KINECT Developed by Microsoft

US software company Microsoft recently developed a new cost effective sign language translator that converts signs into spoken and written language - and vice versa. In collaboration with researchers in China, Microsoft created the Kinect Sign Language Trans lator, a prototype system that understands the gestures of sign language and converts them to spoken and written languageand vice versa. The translator uses a computer and a
Kinect camera that recognises signing gestures, then gives a spoken and written translation of languages for people who can hear. The system captures a conversation both sides: the deaf person is shown signing, with a
written and spoken translation being rendered in real-time, while the system takes the hearing person’s spoken words and turns them into accurate, understandable signs.

The system takes a person’s spoken words and translate them into accurate signs carried out by an onscreen avatar. The Kinect’s sensors read a user’s body position and movements and, with the help of a computer, translate them into commands. The project was collaboration between the Chinese Academy of Sciences, Beijing Union University, and Microsoft Research Asia.

In Mars Findings Mangalyaan & Maven will Complement Each Other

ISRO and NASA will coordinate functions of their Mars Orbiters-Mangalyaan and MAVEN once both get into orbit of the Mars planet in September 2014. This was announced by ISRO scientists. ISRO scientists also stated that the findings of ISRO’ Mars Orbiter mission and NASA’s Maven would complement each other. NASA’s Mars-bound spacecraft, the Mars Atmosphere and Volatile Evolution (MAVEN) was launched aboard a United Launch Alliance Atlas V 401 rocket from Cape Canaveral in Florida, US on 18 November 2013. MAVEN is the second mission for NASAs Mars Scout Program and is likely to obtain critical measurements of the Martian upper atmosphere to help understand the climate change over the red planet-  Mar’s history. MAVEN carries eight instruments Neutral Gas and Ion Mass Spectrometer, Imaging Ultraviolet Spectrograph, Magnetometer, Solar Wind Electron Analyzer, Supra Thermal And Thermal Ion Composition, Langmuir Probe and Waves antenna, Solar Energetic Particles and Solar Wind Ion Analyzer. After having successfully completed five orbit raising manoeuvres on its Mars Orbiter, ISRO is expected to perform the crucial event of trans Martian injection of the spacecraft in the early hours of 1 December 2013. The spacecraft will reach the red planet’s orbit by 24 September 2014 after an over 10 month voyage. ISRO’s PSLV-C25 successfully injected 1350-kg Mangalyaan Orbiter (Mars craft) into orbit around Earth some 44 minutes after launch at 2.38 PM from Satish Dhawan Space Centre at Sriharikota on 5 November 2013 marking the successful completion of the first stage of the 450 crore Rupees mission.

IICT Received Samples from OPCW The Indian Institute of Chemical  Technology (IICT), Hyderabad, recently received over 50 samples for detection of chemical weapons from the Organisation for Prohibition of Chemical Weapons (OPCW). The samples in the form of soil, water and organic solvents were sent twice a year since 2008 when IICT attained the status of designated laboratory for off-site analysis of weapons. OPCW had been sending to IICT for analysis only blank samples collected from different parts of the world. Six samples which were coded to hide the identity of the substance and the originating country were sent by courier every six months as part of continuous evaluation of the lab. The report of the institute should be cent per cent accurate to be eligible to get three ‘A’ grades in succession and pass the proficiency test every year. The institute has already got the proficiency certificate for this year (2013), but it was yet to enter into a technical agreement with OPCW to get authentic on-site samples. It had the technique to identify chemicals at parts per million (PPM) levels. A dedicated centre for analysis of chemical toxins was set up at the institute to attend to OPCW. The IICT was one of the 21  labs in 17 countries that were designated by OPCW for off-site analysis of chemical weapons. Apart from IICT, the Defence Research and Development Establishment (DRDE), Gwalior, under the Defence Research and Development Organisation (DRDO) is also one of the ‘designated laboratories’ of the OPCW. A ‘designated laboratory’ has to participate every year in the OPCW proficiency test and consistently attain the ‘A’ grade benchmark to  retain its status. From 2008, IICT has retained its status though it has been  associated with OPCW since 1998. The Organi sat ion for the Prohibi t ion of Chemical Weapons (OPCW) on 11 October 2013 won the Nobel Peace Prize for the year 2013 for its extensive efforts to eliminate chemical weapons.

About Indian Institute of Chemical Technology (IICT) Indian Institute of Chemical  Technology, (established in 1989) is a national-level research center located in Hyderabad, India under the Council of Scientific and
Industrial Research (CSIR), Government of India. IICT conducts research in basic and applied chemistry, biochemistry,  bioinformatics, chemical engineering and provides science and technology inputs to the industrial and
economic development of the country.

Biosimilar Trastuzumab got Approval of DCGI

Indian Biotech Company Biocon on 26 November 2013 announced that it had received market authorisation from the Drug Controller General of India (DCGI) for its Breast cancer Drug- biosimilar Tras tuzumab. The biosimilar trastuzumab will be marketed in India under the brand name of CANMAb by the company, and is expected to be available to Indian patients in the fourth quarter of FY14. The drug is jointly developed by Biocon along with US-based pharma company Mylan. Breast cancer is one of the most common types of  cancer in India, with over 100000new patients being diagnosed with this disease every year. The cost of biologics in cancer treatment is high, which makes access unaffordable to a large number of patients. Biosimilar Trastuzumab will offer an alternative affordable option thereby enhancing access to treatment for cancer patients in India and the world over.

Biosimilar Trastuzumab drug is used for the treatment of Her 2+ metastatic breast cancer.The Biosimilar Trastuzumab marketed in the brand name of CANMab. CANMab is the first biological equivalent of Herceptin, a
breast cancer drug manufactured by Swiss company, Roche.

Moily sets up team to reassess hydrocarbon resources

• Moving to re-assess the oil and gas potential of the country, Petroleum and Natural Gas Minister Veerappa Moily on Monday announced setting up of a Multi Organisation Team (MOT) to carry out the re-assessment of hydrocarbon resources in all 26 sedimentary basins.

• The assessment is to be completed within 30 months. The Keshav Dev Malviya Institute of Petroleum Engineering (KDMIPE) of the Oil and Natural Gas Corporation (ONGC) will act as MOT leader with the Director (Exploration) of the ONGC being its chairman, and the Director (Exploration & Development) of Oil India Ltd (OIL) as the co-chairman. A National Level Committee headed by the Petroleum Secretary will monitor and review the progress of work periodically, an official statement said.

• The last such exercise was carried out in 15 sedimentary basins about two decades ago and is overdue for a full-scale revision in view of the vast amount of data collected since then.

• There is also an urgent need for the fresh estimation in the remaining 11 sedimentary basins as well, for which no hydrocarbon resources have been estimated so far.

• During the course of implementation of pre-NELP (New Exploration Licensing Policy) and NELP rounds and other exploration and production activities, substantial geo-scientific data have been acquired and interpreted.

• New oil and gas fields have also been discovered by utilising improved geological understanding and new technology. With the increase in exploration spread and quantum jump in availability of geo-scientific data generated under the NELP, it was felt there is a need to revisit the hydrocarbon resource assessment of India.

(SBI PO Sample Material) Reasoning : Blood Relations (MCQs)

1. Pointing to a woman, Naman said, "She is the daughter of the only child of my grandmother." How is the woman related to Naman?

(1) Sister (2) Niece
(3) Cousin (4) Daughter
(5) None of these

Directions : Read the information given below and answer the questions that follow.

I. A, B, C, D, E and F are six members of a family.
II. One couple has parents and their children in the family.
III. A is the son of C and E is the daughter of A.
IV. D is the daughter of F who is the mother of E.

2. Who are the male members in the family?

(1) A and C (2) C and F
(3) A, B and D (4) A and D
(5) Cannot be determined

Directions : Read the given information and answer the following questions based on it.

A family consists of five members A, B, C, D and E. E has two sons, an unmarried daughter and a daughter­in-law. A is the brother-in-law of above mentioned daughter-in-law. B’s sister is not happy with B’s wife. But A and his father support B’s wife D.

3. Who is the daughter of E ?

(1) A (2) B
(3) C (4) D
(5) Cannot be determined

Directions : Read the following information carefully and answer the questions given below.

I. ‘P + Q means ‘P is the father of Q.
II. ‘P – Q means `P is the wife of Q.
III. ‘P × Q means ‘P is the brother of Q.
IV. ‘P + Q means ‘P is the daughter of Q.

4. If ‘A ÷ C + D + B which of the following statement is true ?

(1) A is the daughter of B
(2) B is the aunt of A
(3) A is the aunt of B
(4) A is the mother of B
(5) Data Inadequate

Directions : Read the following information to answer the given questions.

I. P , Q, R, S, T and V are six family members.
II. There is one Medico, one Advocate, one Engineer, one Teacher, one Student and one House wife.
III. There are two married couples in the family.
IV. U, who is an advocate, is father of P.
V. Q is a teacher and is mother of R.
VI. S is grandmother of R and is a house wife.
VII. T is the father of V and is a Medico.
VIII. R is the brother of P.

5. Which of the following statements is definitely true?

(1) U is the father of Engineer
(2) P is the Engineer
(3) T is the father of teacher
(4) R is the brother of student
(5) Data Inadequate

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(SBI PO Sample Material) Reasoning : Coding - Decoding (MCQs)

1. In a certain code LAWN is written as JCUP. How will SLIT be coded in that code?

(1) QNGV (2) QJGV
(3) QNVG (4) NJGV
(5) None of these

2. ROMAN : QMONA : : ITALIAN ® ?

(1) JUBMJBO (2) HSZKHZM
(3) HATLIBM (4) HATILNA
(5) None of these

Directions: These questions are based on the information given below. In a certain code language

All men are women ® # + = ÷
All females are men ® + ÷ # ¹
No women is a teacher ® > × > = <
No men are females ® ¹ ÷ = ÷ # >
No teacher is bad ® D < > ×

Then, find the codes for the words given in each question below?

3. What is the code for ‘teacher’ in the above language ?

(1) × or £ (2) ³
(3) × (4) £
(5) None of these

4. In a certain language, PEN is written as QDM, then how BOOK will be written in that code ?

(1) CMJN (2) CNNJ
(3) CNLS (4) NMJP
(5) None of these

Directions: The following questions are based on a code-language in which TEMPORARY’ is written as ‘EPRSAYOUM’ and `EXCUSE’ as PGNVXP’

5. How is ASSURE written in the code ?

(1) OXXPYUP (2) OPPVYP
(3) OXXVYP (4) OPPVXP
(5) None of these

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Banking and Financial News – 02 May 2014

A single platform to pay all your bills (The Mint) - Last week, an RBI-appointed panel recommended setting up a centralized bill payment system that would enable any bill payment centre to accept payments for all kinds of bills. The idea is to bring together expertise of all stakeholders—billing companies, aggregators, banks and non-banks—and build a single payment point. Besides bill payments, these touch points can also allow payments towards insurance premium, taxes, school fees, and more.

RBI is looking to build an entity similar to the National Payments Corporation of India (NPCI), which ensures standardized payment solutions.

Govt. cuts import tariff value on gold, silver ((The Mint) - The import tariff value on gold and silver slashed to $422 per 10 grams and $632 per kg respectively, taking weak global cues. Due to government curbs, the country’s total gold and silver imports dropped 40% to $33.46 billion in 2013-14, as against $55.79 billion in the previous year.

Institute of Banking Personnel Selection

Common Written Examination (CWE)

List of Candidates Provisionally Allotted Based on Rank Under IBPS (CWE-PO/ MT-III) 2014

Click Here To View Candidates List

Courtesy : IBPS

Union Bank of India

List of Candidates Provisionally Selected for Probationary Officer in JMG Scale-I  under (CWE-III) 2014

The following candidates are provisionally allotted to UNION BANK OF INDIA by the IBPS for the post of Probationary Officers in JMGS-I under CWE-III. The provisional offers of appointment are being sent to the correspondence address of the candidates provided by them in their On-line application forms submitted to the IBPS.

These candidates are required to report on or before 06.05.2014 for completion of pre recruitment formalities at the venue mentioned in their provisional offers of appointment with the Photographs (as uploaded on the IBPS Online Application), Permanent Address Proof and Original Pan Card. Please note that they are also required to bring all the Original Certificates/ Documents and the latest Caste Certificate in the prescribed and notified formats (formats are available on Bank’s website). Upon successful completion of recruitment formalities and being found medically fit in the pre-recruitment medical examination, they will be required to undergo mandatory induction training for a period of 3 weeks. The details of this induction training will be communicated in due course.

If any candidate fails to report on or before 06.05.2014 at his/ her respective reporting office or fails to attend the induction training on the prescribed date, it will be deemed that he/ she is not interested in taking up the Offer of appointment and it will automatically stand cancelled.

IBPS Clerk - III Interview Experience by Ajinkya Jain

Name : Ajinkya Jain

IBPS SCORE- 89

Interview Venue - bank of Maharashtra Bandra (E) Mumbai

Interview Time - 8.30 a.m.

document verification started by 9.00 am.i am 7th in my panel.so my turn came at 10.15 a.m.

interview done in marathi...

i have entered in the hall there are 4 members in interview panel...all wish me good morning..i also wish them..

M1- about family background?

Me - Replied

M2 - hobbies?

Me - replied

M1- what is balance sheet?what is ratio analysis?

M2- what is direct tax and indirect tax?

F1- how many types of accounts?

what is diff between saving and current a/c?

what is diff between cheque and demand draft?

M3- who is RBI governor? what is IMF?

what is RTGS AND NEFT? maximum and minimum limit?

M1- how can u open your account?documents required?

M3- what is IFSC?

thank you. you may go now.

thats it.i think i have done well..just hope for the best.......

i wnt to tell that you must know your subjects basic knowledge and basic concepts.......just stay calm..and relax..they r also vey co operative.

PLSE SHARE THIS MY EXPERIENCE WITH STUDENTS....publish it on your site...thank you...ALL THE BEST.....................

(General Awareness For Bank's Exams) Economy

India & The World

January, 2014

INDIA AND RUSSIA

India and Russia on 18 November 2013 agreed to expand the range of strategic partnership in a significant manner in Moscow. The two countries will also hold a Joint Air Force Level exercise for the first time in 2014. The decision was taken during the 13th Meeting of the India– Russia Inter-Governmental Commission on Military Technical Cooperation (IRITC-MTC) and it was co chaired by AK Antony, the Defence Minister of India and His counterpart of Russia, Sergey Shoigu. This decision was taken by the two countries within two days after commissioning of INS Vikramadatya into Indian Navy.

The Agreements

• The two countries agreed to hold a joint Air Force level exercise for the first time, which will happen in 2014 with a joint Navy Exercise in the Peter the Great Bay in the Sea of Japan. Recently, the armies of the two countries held an Exercise Indra in Rajasthan with a focus on anti-terrorism.

• Agreement was reached between the two ministers on further cooperation at all levels, especially in view of the regional and global challenges and to fight the menace of terrorism jointly. Both sides reviewed the situation in West Asia, especially in Syria and the evolving paradigm in Afghanistan.

• The two sides also agreed on to expand the cooperation not only in product design and development but also to involve various echelons of the Defence establishments in strategizing policies and cooperation in the fast changing global security scenario.The Indian delegation in Russia also laid a wreath at the World War-II memorial at Poklonnaya Gora (Bow- Down Hill) of the Victory Park. A ceremonial guard of honour was also presented. Shoigu has also assured to India that the Indian pilots will be trained by the Naval Aviation Specialists to take offs and landing on the INS Vikramaditya, which may be held in Goa.

INDIA AND MALAYSIA

Indian Bank

State-Wise list of Candidates Provisionally Allotted by IBPS under : (CWE-Clerk –III)  2014-15

The induction training for Clerical Candidates is tentatively scheduled in two batches viz.

Batch 1 : (from May 12th 2014 to May 24th 2014)

Batch 2 : (from May 26th 2014 to June 7th 2014).

After receipt of Appointment Order, Candidates are advised to contact respective Zonal Offices.

Essay Course for Bank Exams

How to choose an Essay Topic in Exam

While facing the Essay paper, one of the deciding factors, that determine your marks is the choice of the essay topic. Generally, the question paper presents the candidate four choices, that touch different fields.

Now, what generally happens in the exam hall is that- we start writing in excitement on the first topic that hits our mind. However, this should be avoided. Generally, our mind gets excited to see anything that we might have read lately. Thus, it inclines our attention towards that topic. However, it is not necessary that our initial interest in a topic is a hint towards our expertise on it.Thus, we highly recommend that you should analyze each and every topic carefully, and give a thought about your level of competency for each topic.

(General Awareness For Bank's Exams) Economy

January -2014

FDI in high-speed trains, other projects  

• The government is likely to allow Foreign Direct Investment in high-speed trains and other projects including development of rail lines between project sites and existing network.

• Besides, proposing 100 per cent FDI through automatic route in the cash-starved railway sector, the Department of Industrial Policy and Promotion (DIPP) has also proposed to de-licence and de-reserve few areas of the sector.

• However, FDI will not be allowed in train operations and safety. At present, there is a complete ban on any kind of foreign direct investment (FDI) in the railways sector except mass rapid transport systems.

• According to the proposal, foreign investment would also be allowed in suburban corridor, high speed train systems and dedicated freight line projects implemented in PPP mode.

• It has also suggested widening the definition of ‘infrastructure’ by including railway line and railway sidings.

• As per the proposal, foreign companies would be allowed to pick up 100 per cent stake in the special purpose vehicle (SPV) that will construct and maintain rail lines connecting ports, mines and industrial hubs with the existing rail network.

• First-to-last mile connectivity would mean smooth movement of raw materials from mines to ports.

• The move will help in attracting more and more FDI besides development of infrastructure for industrial purposes.

• Indian Railways has been facing a cash problem. Industrial development and exports have been suffering on account of poor infrastructure which hampers output and raises the cost of production.

• Welcoming the development, experts said the government should come out with clear rules for Public-Private-Partnership (PPP) projects.

Sebi’s focus areas for 2014 

• Looking to safeguard the interest of small investors and overall market place, Sebi has identified a greater oversight mechanism on insider trading and a stronger risk management framework as among key focus areas for 2014.

• Sebi is currently in the process of overhauling its nearly two decade old insider trading norms, pursuant to which those indulging in unlawful insider trading activities would be dealt with severely.

• Many new categories of persons, including public servants, regulatory officials, judiciary and government officials dealing with unpublished price-sensitive information are being brought under the purview of insider trading.

• At the same time, new norms would also seek to clearly differentiate between 'innocent mistakes' and genuine transactions of company executives from the unlawful and serious trading offences.

• Often, comparisons have been made between regulatory action against insider trading in India and the US, where some high-profile cases including that of former banker Rajat Gupta has come to light in recent months.

India's average economic growth 7.7 % 

• A report card titled '10 Years of Progress and Growth' highlighting achievements of the government led by Prime Minister Manmohan Singh said that average GDP growth rate during the period of UPA government (2004-05 to 2013-14) has been 7.7 per cent despite two global slowdown in this period.

• India's average economic growth rose to 7.7 per cent in the 10-year regime of the UPA government as compared to 6.2 per cent recorded in the previous decade, report says.

• Agriculture growth rate has been rising consistently and the sector expanded by 2.5 per cent and 3.7 per cent during the 10th and 11th Five Year Plans, respectively, and expected to touch 4 per cent in the ongoing 12th Plan period.

• It further said the country's GDP at the current price has increased almost three times to Rs 100.28 lakh crore during the last nine years from Rs 32.42 lakh crore in 2004-05.

• Similarly, per capita income has risen almost three-fold during the period. The per capita income has gone up to Rs 68,747 in 2012 from Rs 24,143 in 2004, the report card said.

• Referring to large projects, it said the UPA government has expedited and cleared as many 293 projects involving investment of Rs 5.7 lakh crore in 2013.

• It said that in the last two years, 80,000 micro enterprises have been supported by Prime Minister's Employment Generation Programme, creating job opportunities for 9.23 lakh people.

Vodafone to buy Tata Tele Services  

• Vodafone is in early talks with the Tata Group to buy its controlling stake in Tata Tele Services to create India's largest telco by subscribers.

• The right of first refusal (RoFR) to the Tatas' 59.45% stake in Tata Tele Services rests with its Japanese partner NTT Do-CoMo, which owns a little over onefourth of the telecom company.

• But if the Japanese company refuses to buy out the Tatas, the Indian partner has the right to exercise its 'drag along' rights and force NTT DoCoMo to sell its shares to the buyer of its choice, said two persons familiar with the development.

• If the transaction happens, the Vodafone-Tata Tele Services combine, as per November 2013 figures, will become the country's No. 1 player in terms of subscribers with 248 million customers, overtaking Airtel's 196 million users.

Norms relaxed for participation of NBFCs in Insurance JVs

Reserve Bank of India (RBI) on 28 November 2013 relaxed norms for participation of Non-Banking Finance Companies (NBFCs) in the insurance joint ventures by allowing them to hold more than 50 percent in such companies. The notification of Reserve Bank of India has stated that - it has been decided that in cases where IRDA issues calls for capital infusion into the Insurance joint venture company, the RBI may, on a case to case basis, consider need based relaxation of the 50 percent group limit. The relaxation will be subject to compliance by the NBFC with all regulatory conditions. In the operation of Insurance Company, the IRDA often requires an insurance company to expand its capital taking into account the stipulations of the Insurance Act and the solvency requirements of the insurance company. The restriction of a group limit of the NBFC to 50 percent of the equity of the insurance joint venture company prescribed in the above mentioned circular may act as a constraint for the insurance company in meeting the requirement of IRDA.

RMS for Trade Facilitation in Export Sector Introduced

Union Finance Minister P.Chidambaram was on 13 November 2013 inaugurated the IT based Risk Management System (RMS) for the Customs clearance of export goods at New Delhi. Government has introduced RMS to enhance trade facilitation in export sector and to check smuggling of drugs, weapons and other illegal substances harmful to the country. RMS will also enable the Excise and Customs Department to enhance the level of facilitation and speed up the process of cargo clearance. The single window system of RMS will contribute to reduce in dwell time, by achieving the desired objective of reducing the transaction cost in order to make the business internationally competitive. The launch of RMS in exports covers 11 Customs stations at Bangalore, Chennai, Delhi, Hyderabad, Mumbai, Pune and Tutocorin. It would be extended to all EDI Customs stations by year end. Benefits are expected to accrue to the trade in terms of faster clearances and reduced transaction costs thereby enhancing the global competitiveness of our export goods.

Medium Manufacturing Enterprises to be included under Priority Sector

The Reserve Bank of India (RBI) on 26 November 2013 allowed banks to treat loans given to medium manufacturing enterprises after 13 November 2013 as priority sector advance. RBI stated that the step has been taken to provide enhanced liquidity support to the medium and small enterprises. The RBI also allowed incremental bank loans to medium services enterprises extended after 13 November 2013 to up to 100 million rupees and raised the loan limit given to micro and small service enterprises to 100 million rupees from 50 million rupees that will be treated as priority sector advance. This facility will remain open till 31 March 2014. Under priority sector advance, most banks have to lend 40 percent of their loans to agriculture, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sectors.

NIC got approval of 75 % Innovation Fund Corpus

The National Innovation Council (NInC) on 20 November 2013 got approval of 75 percent of the 500 crore rupees initial corpus of the upcoming India Innovation Fund (IIIF), which is an Indian model of innovation. IIIF will have contributions from Ministry of Finance, public sector banks (PSBs) and multilateral agencies and is being mobilized by NInC. The main objective of IIIF is to finance Enterprises focusing on the bottom of the pyramid that is, firms delivering goods and services to the poorest of the country. Multilateral agency, PSBs and financial institutions already gave commitment of 375 crore rupees and additional commitments to council, which mentioned in NInC annual “Report of the People 2013”. The launch date not yet decided though it is in its final stage of launching the fund. Minimum 50 percent of advances from the fund would be to micro, small and medium enterprises (MSMEs) in the first close. The fund will not invest more than 15 percent of the corpus in any single company to ensure spread of investment. The fund intends to partner with public R&D programmes and laboratories to support the commercialization and deployment of socially relevant technologies and solutions.

The fund would be registered with Securities and Exchange of India (SEBI). A pipeline of the potential investment prospects has been identified. A specialised core teamis also expected to be in place before the first closure. It is expected that the fund would be operational by the beginning of 2014. The fund may increase eventual size of 5000 crore rupees in the long term.

About National Innovation Council (NInC)

The National Innovation Council (NInC) was set up by the Prime Minister under chairmanship of Sam Pitroda, an adviser to PM on public information infrastructure and innovations (PIII). NInC will provide mutually reinforcing policies, recommendations and methodologies to implement and boost innovation performance in the country. The task of the National Innovation Council include formulating Roadmap for innovation for 2010-2020 and creating framework for evolving an Indian model of innovation, with focus on inclusive growth, encouraging central and state governments , universities and R&D institutions to innovate and to encourage the multi displinary and globally competitive approaches for innovations and others. The Council will also promote the setting up of State and Sector Innovation Councils to help implement strategies for innovation in Stated and Specified sectors.

Provision for Higher Sugar Export announced

The Union Government of India on 15 November 2013 announced the provision of higher sugar export with domestic production becoming surplus.

The condition of export of sugar has been relaxed by doubling the limit of the overseas shipment that sellers can register. The export of sugar has been doubled to 50000 tonnes from 25000 tonnes per application for registration was announced by the Directorate General of Foreign Trade. The sugar production of India is projected at 25 million tonnes in 2013-14, which is two million tonnes more than the domestic demand.

Third-party payment for Export and Import Transactions allowed

The Reserve Bank of India (RBI) on 8 November 2013 has allowed third party payment for the export and import transactions. The procedure relating to payments for exports or imports was liberalized taking into account the evolving international trade procedure. Banks are allowed to receive the payments for export of goods/software from the third party. The order of RBI also permits the banks to make payments to the third party for imports of goods. The third party refers to an entity other than the buyer or the seller. The procedure was liberalised taking into account the evolving international trade practices. However , banks would have to follow certain conditions in case of export transaction:

• Firm irrevocable order backed by a tripartite agreement should be in place

• Third party payment should come from a Financial Action Task Force (FATF) compliant country and through the banking channel only

• The exporter should declare the third party remittance in the Export Declaration Form;

• It would be responsibility of the Exporter to realize and repatriate the export proceeds from such third party named in the EDF

• Reporting of outstandings, if any, in the XOS would continue to be shown against the name of the exporter. However, instead of the name of the overseas buyer from where the proceeds have to be realised, the name of the declared third party should appear in the XOS

• In case of shipments being made to a country in Group II of Restricted Cover Countries, (e.g. Sudan, Somalia, etc.), payments for the same may be received from an Open Cover Country

The banks have been allowed to make payments for import transactions to a third party for import of goods , subject to conditions as under:

• Firm irrevocable purchase order / tripartite agreement should be in place

• Third party payment should be made to a Financial Action Task Force (FATF) compliant country and through the banking channel only

• The Invoice should contain a narration that the related payment has to be made to the (named) third party

• Bill of Entry should mention the name of the shipper as also the narration that the related payment has to be made to the (named) third party

• Importer should comply with the related extant instructions relating to imports including those on advance payment being made for import of goods

• The amount of an import transaction eligible for third party payment should not exceed USD 100,000. This limit will be revised as and when considered expedient

FCNR deposit rates of Indian Bank 

• Indian Bank has revised interest rates on FCNR (B) term deposits with effect from January 1.

• For FCNR (B) deposits, in dollar, the revised interest rate has been fixed at 2.58 per cent for deposits of one year and above but less than two years (2.58 per cent existing); 2.50 per cent for two years and above but less than 3 years (2.39 per cent); 3.87 per cent for three years and above but less than 4 years (3.66 per cent); 4.33 per cent for four years and above but less than 5 years (4.06 per cent) and 4.80 per cent for deposits of five years only (4.51 per cent)

Largest corporate learning centre 

• Tata Consultancy Services (TCS), country's largest software services firm, will set up the world's largest corporate learning and development centre in Thiruvananthapuram with a total capacity to train 50,000 professionals every year.

• Prime Minister Manmohan Singh laid the foundation stone for the facility.

• The learning facility will be built over area of 6.1 million square feet and will have the capacity to train 15,000 professionals at one time and 50,000 professionals annually, TCS said in a statement.

• Located on a 97-acre property in the Technopark area of the city, the campus will also have residential accommodation for professionals and faculty at the centre.

• The TCS Learning Campus will be the new benchmark for corporate learning worldwide and this iconic facility will produce world class professionals to meet the future needs of the IT industry.

• The project will provide direct employment to over 2,000 skilled and unskilled local people for a period of 4 years.

FDI in e-commerce  

• Expediting its efforts to further relax foreign direct investment (FDI) policy regime, the government has circulated discussion paper on FDI in e-commerce among stakeholders, aiming to usher in the reform before the Lok Sabha elections.

• While debating as to whether FDI in e-commerce should be allowed at all, the discussion paper has sought views on the FDI cap in the sector and listed out the merits and demerits of the move.

• Presenting both 51 per cent or 100 per cent cap scenario on the FDI in the sector, the paper has raised sticky questions including whether the "existing retail stores get displaced due to e-commerce".

• At present, 100 per cent FDI is allowed in business-to-business e-commerce, while business-to-consumer is prohibited.

• The government allowed 51 per cent FDI in the multi-brand retail trading (MBRT) in September 2012, with riders including mandatory investment of a minimum 50 per cent towards back-end infrastructure and compulsory 30 per cent sourcing from SMEs.

• Another important issue raised in the paper is geographical restriction for e-commerce, as applicable in the FDI policy for MBRT. According to the policy for MBRT, states have been empowered to take decision on notification of towns and cities with population of more than 10 lakh as per 2011 census.

• At present, 12 states including Andhra Pradesh, Assam, Delhi, Haryana, J&K, Maharashtra, Manipur, Rajasthan, and Uttarakhand allow FDI in multi-brand retail stores.

Usage of Bitcoin

• The Reserve Bank of India (RBI) has cautioned users, holders and traders of virtual currencies (VC) like Bitcoin, Litecoin, BBQcoin and Dogecoin and is examining the legal and regulatory framework of VCs. In a press release, RBI stated that Bitcoin and other VCs are exposed to potential financial, operational, legal, customer protection and securityrelated risks.

• According to RBI , the creation, trading or usage of VC including Bitcoin, as a medium for payment, are not authorised by any central bank or monetary authority. No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities.

• Bitcoin was created to solve the mathematical solution to double-counting but it grew into an alternate currency system altogether; its value has skyrocketed as more and more people, investors and enthusiasts jumped onto the bandwagon and started transacting in the virtual currency.

RBI panel  

• A committee on comprehensive financial services for small businesses and low-income households, set up by the Reserve Bank of India (RBI), has suggested that each low-income household and small business should be provided with convenient access to formally regulated lenders who have the ability to assess and meet their credit needs and offer a full-range of suitable credit products at an affordable price.

• The committee, headed by Nachiket Mor, Central Board Member of the RBI, submitted its report and has set January 1, 2016, as the deadline for achieving this.

• By that date, each district and every significant sector (and sub-sector) of the economy would have a credit to GDP ratio of at least 10 per cent. This ratio would increase every year by 10 per cent.

• The committee was hopeful that by January 1, 2016, each district would have a total deposits and investments to GDP ratio of at least 15 per cent.

• On priority sector, the committee recommended adjusted priority sector lending target of 50 per cent against the current requirement of 40 per cent with sectoral and regional weightage based on the level of difficulty in lending. It also recommended risks and liquidity transfers through markets. ``In view of the fact that banks may choose to focus their priority sector strategies on different customer segments and asset classes,’’ the committee recommended the regulator to provide specific guidance on differential provisioning norms at the level of each asset class.

ONGC Videsh-Oil India’s Videocon stake 

• ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) have completed the acquisition of Videocon Group's 10 per cent stake in a giant Mozambique gas field for USD 2.475 billion.

• OVL, the overseas arm of state-run explorer Oil & Natural Gas Corp, and OIL agreed in June last year to jointly buy Videocon's 10 per cent interest in the Rovuma Area 1 for USD 2.475 billion.

• Additionally, OVL bought US energy major Anadarko Petroleum's 10 per cent stake in the same block for USD 2.64 billion.

• Payments to Videocon to close the deal were made yesterday, the companies said in separate, almost identical statements. OVL will pay Anadarko before February-end.

• OVL raised about USD 1.5 billion in one-year bridge loans from foreign lenders, while OIL borrowed USD 900 million to fund their respective share of payments to Videocon.

• The 10 per cent stake will be split in a 60:40 ratio between OVL and OIL. The two firms had signed definitive agreements with Videocon Mauritius Energy on June 25 to acquire the stake in the gas field.

• The partners in Area 1 include Anadarko, the operator of the project, ENH (the national oil company of Mozambique), Mitsui, BPRL (a unit of Bharat Petroleum Corp Ltd) and Thailand's PTT Exploration and Production.

Fed tapering  

• World stock markets were muted amid concern an improved U.S. economy might prompt the Federal Reserve to reduce its stimulus faster than previously expected.

• Crude rose as expectations of greater heating oil demand in chilly North America offset signs of weak gasoline demand.

• A survey that showed U.S. employment increased in December prompted concern the Fed might accelerate the process of winding down bond buying that has supported stock prices. The Fed has been buying $85 billion of bonds a month in a strategy dubbed quantitative easing, or QE, but said in December it will trim that by $10 billion to $75 billion beginning this month.

• In Europe, France’s CAC 40 gained 0.1 to 4,264.02 while Germany’s DAX dropped 0.1 per cent to 9,491.49. Britain’s FTSE 100 was steady at 6,720.99.

• Tokyo’s Nikkei 225 shed 1.5 per cent to 15,880.3 and China’s benchmark Shanghai Composite Index fell 0.8 per cent to 2,027.62. Hong Kong’s Hang Seng dropped 0.9 per cent to 22,787.33.

• Elsewhere in Asia, Taiwan’s Taiex was down 0.5 per cent and Seoul’s Kospi fell 0.7 per cent. Sydney’s S&P/ASX 200 added 0.2 per cent to 5,324.40.

• In the United States, payroll processor ADP said companies added 238,000 jobs in the U.S. in December, up slightly from 229,000 in the previous month. November’s figures were also revised higher.

100% FDI limit in pharma 

• The government decided to retain 100% foreign direct investments (FDI) for existing pharmaceutical companies setting aside the speculation that the limit, if not curbed could eventually encourage a hike in cost of medicines.

• FDI in the pharmaceutical sector jumped by 86.5% to $1.08 billion during April-October period of the current fiscal amid concerns over continuous mergers and acquisitions of domestic drug makers by multinationals.

• In the past one year, a number of multinational companies have tried to acquire Indian pharmaceutical companies leading to fears that these companies will stop producing essential and generic drugs in the country that will result in increase in the cost of medicines.

• India had allowed 100% FDI in the pharma sector through the automatic approval route in 2002.

• In its proposal, the Department of Industrial Policy and Promotion (DIPP) had said that the acquisition of Indian pharma companies will severely impact availability and affordability of generic medicines in the country and recommended a reduction in the FDI cap to 49% from 100% in rare or critical pharma verticals. In September 2013, the government cleared the US based Mylan’s FDI proposal.

Global food prices drop 

• Global food prices fell 1.6 per cent in 2013 as large supplies pushed down international prices of commodities such as oils, sugar and cereals, according to United Nations food agency FAO.

• "Over the full 2013 year, the Index averaged 209.9 points, down 1.6 per cent, from 2012, but still the third highest annual value on record." as per the Food and Agriculture Organisation (FAO) price index.

• The FAO price index measures monthly price changes for a basket of cereals, oilseeds, dairy products, meat and sugar.

India slips in business optimism 

• India has slipped to eighth rank from the top spot in terms of business optimism, with 69% of the corporates having a positive outlook on the economy and growth of operations in 2014, says a survey.

• India has ranked eighth in the list which was topped by United Arab Emirates and Philippines, where 90% of businesses said they are optimistic about growth and the economy, followed by Peru at 84%, according to Grant Thornton's International Business Report (IBR).

• IBR is a survey of both listed and privately held businesses. The data was drawn from interviews with 3,500 senior executives across industry sectors and was conducted between November and December 2013.

• With strong sentiment for change in the recent state elections and decisive actions by the RBI/government in last few months, it's easy to see how medium to large businesses in India are more optimistic about the outlook for the economy in the coming months, Chandiok added.

• Moreover, the appointment of Raghuram Rajan as the governor of Reserve Bank of India seems to have steadied the economy and provided the much-needed confidence to Indian businesses, the report said.

• According to the report, 90% of Indian businesses believe their revenues would rise in 2014 while 76% are most optimistic for increasing profitability this year. Around 35% of businesses are also hoping to witness a jump in exports.

• Research and Development (R&D) initiatives are also likely to get a boost this year with 46% businesses betting big on R&D. About 65% businesses foresee a rise in employment in 2014.

RBI buying dollars in spot market & selling it in forward market to stabilise rupee 

• The Reserve Bank of India, under Governor Raghuram Rajan, seems to have changed its strategy when it comes to defending the fragile rupee and managing liquidity.

• The central bank, which earlier used to sell dollars in the local markets, is now increasingly buying the US currency in the spot market and selling it in the forward market. The revised strategy seems to be having a bearing on the non-deliverable forwards, or NDF, market.

• The move, experts say, is aimed at not only stabilising the local currency but also managing liquidity, as there was a surge in inflows after banks were allowed to swap Foreign Currency (Non-Resident) Accounts (Banks), or FCNR (B), proceeds for a premium.

Sebi tightens norms  

• Tightening norms for issue of participatory notes (P-Notes) by overseas investors, Sebi has barred "unregulated" foreign funds from dealing in offshore derivative instruments even if their investment managers are appropriately regulated by their concerned regulators.

• The guidelines, which are part of the newly notified Foreign Portfolio Investor (FPI) Regulations, have come into force with immediate effect. They provide for stricter oversight of P-Notes, the preferred route for overseas high net worth individuals (HNIs) and hedge funds for investing in the Indian market.

• Earlier, according to the draft regulations by the Securities and Exchange Board of India, it had been proposed that only 'Category-III,' or high-risk foreign investors, would be barred from issuing P-Notes.

• However, the gazette notification that brought the FPI guidelines into force also prohibits certain entities under 'Category-II,' or medium-risk investors, from issuing P-Notes.

• P-Notes, or offshore derivative instruments, are mostly used by overseas HNIs, hedge funds and other foreign institutions to invest in Indian markets through registered foreign institutional investors (FIIs), while saving on time and costs associated with direct registrations.

• The new FPI regime has classified foreign investors into three groups based on their risk profile and would eventually replace existing categories such as FIIs, their sub-accounts and qualified foreign investors.

• Category-I FPIs, entities with the lowest risk, would include foreign governments and government-related foreign investors.

• Category-II FPIs would include appropriately regulated broad-based funds, university funds, university-related endowments and pension funds, among others.

• Category-III FPIs would include all others not eligible under the first two categories.

All-time high food grain production expected this year 

• Agriculture Minister Sharad Pawar said that the country's foodgrain production this year is likely to surpass the previous record of 259.29 million tonnes achieved in the 2011-12 crop year.

• The data regarding sowing of rabi (winter) crops like wheat is very encouraging according to reports.

• The country had a record foodgrain production of 259.29 million tonnes in 2011-12 crop year (July-June). However, the output fell marginally to 255.36 million tonnes in the next year due to drought in some parts.

• This year, good monsoon has improved sowing of both kharif (summer) and rabi (winter) crops, thereby boosting prospects of record foodgrains production.

E-auctioning of iron ore 

• The Goa government has set in motion the process to e-auction around 15 million metric tonne of iron ore currently stacked at jetties, leases, stock-yards and beneficiation plants across the state’s mining belt.

• Director of Mines and Geology Prasanna Acharya has issued the notification for e-auctioning, which is scheduled to take place next month.

• The Supreme Court while hearing a petition in the Goa illegal mining case had allowed online auctioning of the ore, and money collected from the process would be deposited in a separate account till the case is disposed of.

• The Department issued the notice inviting applications from prospective bidders to participate in e-auctioning of extracted ore in Goa.

• As per the estimates by state government, approximately 15 million metric tonne of ore is lying unused at jetties, leases, stockyards and beneficiation plants.

• As per the notification, the companies participating in the auctioning process get themselves registered with the Indian Bureau of Mines (IBM).

India's growth will be over 6% in 2014-15: World Bank 

• The World Bank has projected India's economy will grow over 6 per cent in 2014-15 and 7.1 per cent by 2016-17 as global demand recovers and domestic investment increases.

• In China, growth is estimated to stay flat in 2014 at 7.7 per cent, slowing to 7.5 per cent for the next two years, reflecting deleveraging and less reliance on policy-induced investment.

• Global GDP growth may firm up to 3.2 per cent this year from 2.4 per cent in 2013, stabilising at 3.4 per cent and 3.5 per cent in 2015 and 2016, respectively, the World Bank said in its Global Economic Prospects (GEP) report released

Incentives for raw sugar production 

• India will consider providing incentives for production of raw sugar up to 4 million tonnes for exports in the next cabinet meeting, Food Minister K V Thomas said, as part of efforts by the world's second-biggest producer to stop adding to massive mounds of the refined grade which are piling up because of low prices.

• A group ministers under the chairmanship of Farm Minister Sharad Pawar revived the proposal to be placed before the cabinet, but haven't decided about the quantum of incentives yet.

• Indian mills traditionally produce white sugar but a global glut has made exports difficult. A rise in sugar refining capacity in Asia and Africa has now given an opportunity to export raws. Exports of raws from India, the world's biggest consumer of sugar, will eat into the share of top suppliers Brazil and Thailand. Extra supplies could also put further pressure on benchmark prices in New York, which are hovering around a 3-1/2-year low in an oversupplied world market.

Punjab National Bank

Interview Schedule For Manager Financial Analyst (Written Test Held On 23.03.2014)

Venue of Interview:

Punjab National Bank, Central Staff College, 8 Underhill Road, Civil Lines, New Delhi, Contact-011-23920314-318

Reporting Time: 1.00 PM

Note: Interview call letter can be downloaded from Bank's Website.

(General Awareness For Bank's Exams) International Events

January, 2014

Iran and P5+1 Group of Nations clinched Nuclear Deal

Iran and P5+1 group of Nations reached a breakthrough deal on 24 November 2013 to curb Iran’s nuclear programme in exchange for limited sanctions relief. An agreement to this effect was signed at UN Headquarters in Geneva on 24 November 2013 between the Chief negotiator for the six nations, Catherine Marie Ashton and Iranian Foreign Minister Mohammad Jawad Zarief. The interim deal for six months is intended to give time and space to the international community to work towards a comprehensive agreement. After four days of negotiations, representatives o f P5+1 group of nations - the US, the UK, Russia, China, France and Germany - reached an agreement with Iran. The deal is intended as the first step in a six month process aimed at a permanent resolution to the decade-old global impasse over Iran’s nuclear programme, and heading off the
threat of a new war in West Asia. The Geneva deal also makes the way for releasing over 4 billion Dollars in Iranian oil sales revenue from frozen accounts, and suspends restrictionson the country’s trade in gold, petrochemicals, and car and plane parts.

In return, Iran undertakes to restrict its nuclear activities. Over the next six months Iran has agreed to:

1. Stop enriching uranium above 5 per cent, reactor-grade, and dilute its stock of 20 per centenriched uranium or convert it to oxide, which makes it harder to enrich further.

2. Not to increase its stockpile of low-enrichment uranium.

3. Freeze its enrichment capacity by not installing any more centrifuges, leaving more than half of its existing 16000 centrifuges inoperable.

4. Not to fuel or to commission the heavy-water reactor it is building in Arak or build a reprocessing plant that could produce plutonium from the spent fuel.

5. Iran will give greater access to inspectors including daily access at the Natanz and Fordo nuclear sites.In return, there will be no new nuclear-related sanctions for six months if Iran sticks by the accord.

Evidence of Slowdown in China’s Economy

• China’s economy showed clear signs of a slowdown in December, with business surveys across both manufacturing and services sectors weakening together for the first time in months.
• Four purchasing managers’ indexes—two compiled by the government and two by HSBC Holdings PLC—all dropped last month, the first time that has happened since April. The HSBC Services PMI,, fell to 50.9 for December, compared with 52.5 the month before. A figure above 50 indicates expansion, while below that level indicates contraction.
• HSBC’s privately collected manufacturing and services PMIs compete for the attention of markets with the government’s official measures. The PMIs are based on responses from thousands of companies about changes in business conditions. Taken together, the indexes suggest a softening of China’s economy.
• China looks set for gross domestic product growth of about 7.6% in the final quarter of 2013, down from 7.8% in the third, economists say. That slowdown partly reflects tightening credit conditions as China’s central bank tries to bring a rapidly growing debt pile under control.
• The seven-day repo rate, a benchmark of banks’ funding costs, reached 8.9% in December, its highest level in six months. With banks struggling to find liquidity, they are reluctant to extend credit to customers.
• All four PMIs remained in narrowly positive territory for December, indicating that expansion continues, albeit at a slow pace. But that masks difficulties for individual companies in some sectors. Conditions are worsening for small and medium-size businesses, according to the official manufacturing PMI. The subindex for large companies, which has performed best in recent months, also fell in December, though it remains above the 50 mark that separates growth from contraction.
• The data show manufacturers cut back stocks of both raw materials and finished goods, suggesting they are expecting weaker sales ahead.

Geneva II Syria Peace Conference

General on 25 November 2013 announced the Geneva-II peace conference is to be held on 22 January 2014. The international conference is aimed at a democratic political transition in Syria, which will bring the Government and the opposition to a negotiating table for the first time, since the conflict that started in March 2011. The decision was taken at a meeting of the UN special envoy on Syria, Lakhdar Brahimi with the Russian Deputy Foreign Minister, Mikhail Bogdanov and Gennady Gatilov along with the US under Secretary for political Affairs, Wendy Sherman in Geneva on 25 November 2013. The Geneva-II conference was termed as the mission of hope by Ban Ki Moon in which, the fighting has killed more than 100000 and driven almost nine million from their homes, left countless missing and detained and terrible violations of human rights. The goal of Geneva II would be to achieve a political solution to the conflict through a comprehensive agreement between the Government and the opposition for the full implementation of the Geneva communiqué, adopted after the first international meeting on the issue on 30 June 2012. The communiqué, which has been endorsed by the UN Security Council, lays out key steps in a process to end the violence. Among these, the establishment - based on mutual consent - of a transitional governing body with full executive powers, including over military and security entities.

Nepal Constituent Assembly elections

Nepali Congress (NC) emerged as single largest Party in the second Constituent Assembly elections which are held on 19 November 2013. The Communist Party of Nepal (Unified Marxist-Leninist) stood a close second position and the UCPN (Maoist) party is in a distant third position. Elections to the Constituent Assembly were held under two categories — first-past-the post and proportional representation. A total of 240 seats were allocated in the first category and 365 seats in the proportional representation category. The remaining 26 seats in the 601-member will be nominated by the Cabinet later. A total of 301 seats are needed for majority and to form a government. Nepali Congress Party wins 105 of the 240 directly elected seats followed by Communist Party of Nepal (United Marxist-Leninist) with 91 and the United Communist Party of Nepal (Maoist) with 26. The NC has also emerged a clear front-runner in both the electoral formats. It won 105 seats under the direct election of candidates and has so far bagged 26 per cent under the PR system. The CPN (UML) is a close second with 91 seats and 25 per cent, respectively. The largest party in the last assembly- the UCPN (Maoist) is in a distant third position. The previous assembly - elected in 2008 after the abolition of the monarchy - was won by the former rebels. But the Constituent Assembly (CA) was bitterly divided and failed to write a new constitution.

Shinawatra declared Emergency Law for Bangkok

Thailand Prime Minister Yingluck Shinawatra on 25 November 2013 declared a special emergency law for Bangkok after riot police and anti-government protesters scuffled in the capital city. The decision came after hundreds of anti-government protesters stormed into the finance ministry compound and later forced their way into the foreign ministry building. Anti-government protesters want Prime Minister to step down amid claims that her government was remote-controlled by her older brother Thaksin Shinawatra , who was forced to quit as prime minister in 2006. He has since lived in exile toavoid jail on a corruption conviction. The current political crisis is the most serious confrontation in Thailand since the 2010 bloody protests in which over 90 people were killed.

US exempted India and China from Iranian Sanctions

United States of America on 29 November 2013 exempted some countries, including India and China, from the tough Iranian sanctions for reducing their dependence on Iranian oil. Secretary of State, John Kerry announced in a statement in Washington that other countries which have significantly reduced the purchases of Iranian crude oil are the Republic of Korea, Turkey, and Taiwan and these have qualified for an exception to sanctions under the National Defence Authorisation Act. This move came after the decision made by US President Barack Obama that there is sufficient supply of non- Iranian oil for countries to continue to reduce import of oil from Iran. This is the fourth time that these countries have qualified for an NDAA exception as a result of their continued significant reductions in the volume of crude oil purchases from Iran or their end to such
purchases.

Abdulla Yameen sworn in as the President of Maldives

Abdulla Yameen has been sworn in as the 6th President of the Maldives on 17 November 2013. The Chief Justice of Maldives, Ahmad Faiz at a special session of the Parliament in Male administered the oath of office to Abdulla Yameen. Mohammad Jameel was sworn in as vice-President. Yameen (54) a candidate of Progressive Party of Maldives (PPM) secured 51.39 percent of votes, whereas the opposition leader and the former
President Mohamed Nasheed received 48.61. Election Commission of Maldives, declared the results of the election on 16 November 2013 in which it declared Yameen, the half-brother of former autocratic ruler Maumoon Abdul Gayoom as the President elect. Abdulla Yameen’s sworn in has ended the two years of political turmoil that was threatened to isolatethe country internationally. The Maldives was witnessing the political
turmoil, since Nasheed resigned under pressure in February 2012because of a controversial transfer of power.

China Set up Air Defence Zone over East China Sea

China on 23 November 2013 announced that it was set up an Air Defence Identification Zone over an area in the East China Sea. The Zone includes Senkaku islands that are controlled by Japan but claimed by China. In this regard, the Chinese Defense Ministry issued a map of an East China Sea Air Defense Identification Zone including a chain of disputed islands. The zone came into effect from 10:00 local time from 23 November 2013. China also issued a set of rules for the zone, saying all aircraft must notify Chinese authorities and are subject to emergency military measures if they do not identify themselves or