Banking Awareness 2nd February 2017 | Financial Affairs 2nd February 2017.

1. Govt proposes Payments Regulatory Board in RBI

• Necessary amendments are proposed in the Finance Bill 2017 to create a Payments Regulatory Board in the RBI by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems.
• “To begin with, it is proposed to create a Payments Regulatory Board in the RBI by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems,” Jaitely said.

2. Oil and gas: scraping the barrel for sops

• A positive has been the reduction in customs duty on liquefied natural gas (LNG) from 5 per cent to 2.5 per cent.
• The announcement of setting up two more strategic crude oil reserves, in addition to the three reserves set up now, will add to the country’s energy security in the long run.

3. Arun Jaitley attempts a clean-up job in Budget 2017

• Jaitley chose to deviate from the exact path of fiscal consolidation slightly, budgeting a fiscal deficit of 3.2% of gross domestic product in 2017-18 instead of the previously projected 3%.
• However, he did still shrink the deficit, and promised to hit the 3% target in 2018-19.

4. ‘Uttam’ Budget bears PM’s seal

Among the announcements made by Prime Minister Narendra Modi in his December 31 address to the nation was an appeal to political parties to be “mindful of the voice of the people” when it came to corruption in political funding.

5. Railways taken by surprise over listing of its 3 PSUs

• The government on 1 Feb 17 announced the listing of three of its PSUs IRCON, Indian Railway Finance Corporation, and Indian Railway Catering and Tourism Corporation.
• While the government has been seeking in-principle approval from the Railways to list these companies, the ministry was not too keen, and the government’s seriousness or urgency was never conveyed before 1 Feb 17.

6. All cesses, barring petroleum, to be merged in GST: Hasmukh Adhia

• It was decided that even though all other cesses would be subsumed in the GST, the Centre would continue to levy clean environment cess on coal, peat and lignite
• “After the advent of GST, all cesses, other than on petroleum, will merge in GST,” Adhia said on Twitter on 1 Feb 2017.

The post Banking Awareness 2nd February 2017 | Financial Affairs 2nd February 2017. appeared first on Exambin | Social Competitive Learning.

General Awareness 2nd February 2017 | Current Affairs 2nd February 2017.

1. What Modinomics means: Government less a spender, more an enabler

• Between 2007-08 and 2011-12, when the then UPA regime went on a spending binge in the name of countering the 2008 global economic crisis, the fiscal deficit soared four-fold from Rs.126,912 cr to Rs.515,990 cr.
• That has changed little since the present government’s taking office: The deficit in 2016-17 is pegged at Rs.534,274 cr (revised estimates) and budgeted at Rs.546,532 cr  for 2017-18.

2. UNICEF launches 3.3 bln USD to aid millions of children

Media reports that the new administration of President Donald Trump is seeking to cut at least 40 per cent of voluntary contributions to international organisations have set off alarm bells at the United Nations.

3. Alok Verma takes over as CBI chief

• Former Delhi Police Commissioner Alok Kumar Verma on 1 Feb 17 took over as Director of the Central Bureau of Investigation.
• The 1984 batch IPS officer has served the Delhi Police in various capacities. He was the Director-General of Prisons, the Director-General of Police in Mizoram and Puducherry.

4. HC reserves verdict on Zakir’s NGO plea

Justice Sanjeev Sachdeva reserved the verdict after hearing the Centre which said its decision to ban the Islamic Research Foundation was taken with due application of mind as there were apprehensions that the youths were being radicalised and joining terror outfits with many being in queue to join the ISIS.

5. Hydrogel robots that can catch fish

• MIT engineers have designed transparent, gel-based robots that move when water is pumped in and out of them.
•  The bots can perform a number of tasks, including kicking a ball underwater and grabbing and releasing a live fish. In the future, they can be used to evade underwater detection.

6. ‘Lost continent’ lies under the Indian Ocean

• On the continents, you find rocks that are over four billion years old, but you find nothing like that in the  Indian oceans, as this is where new rocks are formed,” said Mr Ashwal
• However, by studying the rocks on the island, we have found zircons that are as old as three billion years”.

The post General Awareness 2nd February 2017 | Current Affairs 2nd February 2017. appeared first on Exambin | Social Competitive Learning.

Banking Awareness 2nd February 2017 | Financial Affairs 2nd February 2017.

1. Govt proposes Payments Regulatory Board in RBI

• Necessary amendments are proposed in the Finance Bill 2017 to create a Payments Regulatory Board in the RBI by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems.
• “To begin with, it is proposed to create a Payments Regulatory Board in the RBI by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems,” Jaitely said.

2. Oil and gas: scraping the barrel for sops

• A positive has been the reduction in customs duty on liquefied natural gas (LNG) from 5 per cent to 2.5 per cent.
• The announcement of setting up two more strategic crude oil reserves, in addition to the three reserves set up now, will add to the country’s energy security in the long run.

3. Arun Jaitley attempts a clean-up job in Budget 2017

• Jaitley chose to deviate from the exact path of fiscal consolidation slightly, budgeting a fiscal deficit of 3.2% of gross domestic product in 2017-18 instead of the previously projected 3%.
• However, he did still shrink the deficit, and promised to hit the 3% target in 2018-19.

4. ‘Uttam’ Budget bears PM’s seal

Among the announcements made by Prime Minister Narendra Modi in his December 31 address to the nation was an appeal to political parties to be “mindful of the voice of the people” when it came to corruption in political funding.

5. Railways taken by surprise over listing of its 3 PSUs

• The government on 1 Feb 17 announced the listing of three of its PSUs IRCON, Indian Railway Finance Corporation, and Indian Railway Catering and Tourism Corporation.
• While the government has been seeking in-principle approval from the Railways to list these companies, the ministry was not too keen, and the government’s seriousness or urgency was never conveyed before 1 Feb 17.

6. All cesses, barring petroleum, to be merged in GST: Hasmukh Adhia

• It was decided that even though all other cesses would be subsumed in the GST, the Centre would continue to levy clean environment cess on coal, peat and lignite
• “After the advent of GST, all cesses, other than on petroleum, will merge in GST,” Adhia said on Twitter on 1 Feb 2017.

The post Banking Awareness 2nd February 2017 | Financial Affairs 2nd February 2017. appeared first on Exambin | Social Competitive Learning.

General Awareness 2nd February 2017 | Current Affairs 2nd February 2017.

1. What Modinomics means: Government less a spender, more an enabler

• Between 2007-08 and 2011-12, when the then UPA regime went on a spending binge in the name of countering the 2008 global economic crisis, the fiscal deficit soared four-fold from Rs.126,912 cr to Rs.515,990 cr.
• That has changed little since the present government’s taking office: The deficit in 2016-17 is pegged at Rs.534,274 cr (revised estimates) and budgeted at Rs.546,532 cr  for 2017-18.

2. UNICEF launches 3.3 bln USD to aid millions of children

Media reports that the new administration of President Donald Trump is seeking to cut at least 40 per cent of voluntary contributions to international organisations have set off alarm bells at the United Nations.

3. Alok Verma takes over as CBI chief

• Former Delhi Police Commissioner Alok Kumar Verma on 1 Feb 17 took over as Director of the Central Bureau of Investigation.
• The 1984 batch IPS officer has served the Delhi Police in various capacities. He was the Director-General of Prisons, the Director-General of Police in Mizoram and Puducherry.

4. HC reserves verdict on Zakir’s NGO plea

Justice Sanjeev Sachdeva reserved the verdict after hearing the Centre which said its decision to ban the Islamic Research Foundation was taken with due application of mind as there were apprehensions that the youths were being radicalised and joining terror outfits with many being in queue to join the ISIS.

5. Hydrogel robots that can catch fish

• MIT engineers have designed transparent, gel-based robots that move when water is pumped in and out of them.
•  The bots can perform a number of tasks, including kicking a ball underwater and grabbing and releasing a live fish. In the future, they can be used to evade underwater detection.

6. ‘Lost continent’ lies under the Indian Ocean

• On the continents, you find rocks that are over four billion years old, but you find nothing like that in the  Indian oceans, as this is where new rocks are formed,” said Mr Ashwal
• However, by studying the rocks on the island, we have found zircons that are as old as three billion years”.

The post General Awareness 2nd February 2017 | Current Affairs 2nd February 2017. appeared first on Exambin | Social Competitive Learning.

Banking Awareness 2nd February 2017 | Financial Affairs 2nd February 2017.

1. Govt proposes Payments Regulatory Board in RBI

• Necessary amendments are proposed in the Finance Bill 2017 to create a Payments Regulatory Board in the RBI by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems.
• “To begin with, it is proposed to create a Payments Regulatory Board in the RBI by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems,” Jaitely said.

2. Oil and gas: scraping the barrel for sops

• A positive has been the reduction in customs duty on liquefied natural gas (LNG) from 5 per cent to 2.5 per cent.
• The announcement of setting up two more strategic crude oil reserves, in addition to the three reserves set up now, will add to the country’s energy security in the long run.

3. Arun Jaitley attempts a clean-up job in Budget 2017

• Jaitley chose to deviate from the exact path of fiscal consolidation slightly, budgeting a fiscal deficit of 3.2% of gross domestic product in 2017-18 instead of the previously projected 3%.
• However, he did still shrink the deficit, and promised to hit the 3% target in 2018-19.

4. ‘Uttam’ Budget bears PM’s seal

Among the announcements made by Prime Minister Narendra Modi in his December 31 address to the nation was an appeal to political parties to be “mindful of the voice of the people” when it came to corruption in political funding.

5. Railways taken by surprise over listing of its 3 PSUs

• The government on 1 Feb 17 announced the listing of three of its PSUs IRCON, Indian Railway Finance Corporation, and Indian Railway Catering and Tourism Corporation.
• While the government has been seeking in-principle approval from the Railways to list these companies, the ministry was not too keen, and the government’s seriousness or urgency was never conveyed before 1 Feb 17.

6. All cesses, barring petroleum, to be merged in GST: Hasmukh Adhia

• It was decided that even though all other cesses would be subsumed in the GST, the Centre would continue to levy clean environment cess on coal, peat and lignite
• “After the advent of GST, all cesses, other than on petroleum, will merge in GST,” Adhia said on Twitter on 1 Feb 2017.

The post Banking Awareness 2nd February 2017 | Financial Affairs 2nd February 2017. appeared first on Exambin | Social Competitive Learning.

General Awareness 2nd February 2017 | Current Affairs 2nd February 2017.

1. What Modinomics means: Government less a spender, more an enabler

• Between 2007-08 and 2011-12, when the then UPA regime went on a spending binge in the name of countering the 2008 global economic crisis, the fiscal deficit soared four-fold from Rs.126,912 cr to Rs.515,990 cr.
• That has changed little since the present government’s taking office: The deficit in 2016-17 is pegged at Rs.534,274 cr (revised estimates) and budgeted at Rs.546,532 cr  for 2017-18.

2. UNICEF launches 3.3 bln USD to aid millions of children

Media reports that the new administration of President Donald Trump is seeking to cut at least 40 per cent of voluntary contributions to international organisations have set off alarm bells at the United Nations.

3. Alok Verma takes over as CBI chief

• Former Delhi Police Commissioner Alok Kumar Verma on 1 Feb 17 took over as Director of the Central Bureau of Investigation.
• The 1984 batch IPS officer has served the Delhi Police in various capacities. He was the Director-General of Prisons, the Director-General of Police in Mizoram and Puducherry.

4. HC reserves verdict on Zakir’s NGO plea

Justice Sanjeev Sachdeva reserved the verdict after hearing the Centre which said its decision to ban the Islamic Research Foundation was taken with due application of mind as there were apprehensions that the youths were being radicalised and joining terror outfits with many being in queue to join the ISIS.

5. Hydrogel robots that can catch fish

• MIT engineers have designed transparent, gel-based robots that move when water is pumped in and out of them.
•  The bots can perform a number of tasks, including kicking a ball underwater and grabbing and releasing a live fish. In the future, they can be used to evade underwater detection.

6. ‘Lost continent’ lies under the Indian Ocean

• On the continents, you find rocks that are over four billion years old, but you find nothing like that in the  Indian oceans, as this is where new rocks are formed,” said Mr Ashwal
• However, by studying the rocks on the island, we have found zircons that are as old as three billion years”.

The post General Awareness 2nd February 2017 | Current Affairs 2nd February 2017. appeared first on Exambin | Social Competitive Learning.