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Union Cabinet approved Policy for Marginal Fields of ONGC and OIL

Published on: 02-SEP-2015
Important for Exam: 2 people agreed

Marginal Fields are those discoveries that could not be monetized for many years due to various reasons such as isolated locations, small size of reserves, high development costs, etc.

RBI proposed marginal cost of funds methodology to calculate Base Rate

Published on: 02-SEP-2015
Important for Exam: 0 people agreed

The new methodology is aimed at bringing uniformity among BRs of banks so that they will be more sensitive to any changes in policy rates of the RBI.

FIIs/FPIs exempted from MAT purview for the period prior to 1 April 2015

Published on: 02-SEP-2015
Important for Exam: 2 people agreed

The Union Government introduced this tax in 1997 in order to make the companies pay minimum amount as tax irrespective of tax exemptions that they are availed of under various tax saving provisions.

Union Government released 2000 crore rupees to EPS-95 as contribution for 2015-16

Published on: 02-SEP-2015
Important for Exam: 2 people agreed

Further, a sum of 250 crore rupees was contributed as grant-in-aid for providing minimum pension of 1000 rupees to the pensioners of EPS-95.

RBI declared SBI and ICICI Bank as Domestic Systemically Important Banks

Published on: 01-SEP-2015
Important for Exam: 11 people agreed

These banks have been put under associated bucket structure as required under the D-SIB Framework and each bucket corresponds to the higher loss absorbency requirements that they would be required to hold from January 2016.

CSO released estimates of GDP for April-June quarter of 2015-16

Published on: 01-SEP-2015
Important for Exam: 9 people agreed

As per the estimates, India remained the fastest growing major economy of the world for a second straight quarter.

USITC extended anti-dumping duty on Indian preserved mushrooms for 5 years

Published on: 31-AUG-2015
Important for Exam: 4 people agreed

The extension was done as part of extension of anti-dumping duty orders on preserved mushrooms (mushrooms prepared or preserved by cleaning, blanching, slicing and cutting) from Chile, China, India, and Indonesia.

NITI Aayog launched second version of India Energy Security Scenarios 2047

Published on: 28-AUG-2015
Important for Exam: 8 people agreed

The open source web based tool aims to explore a range of potential future energy scenarios for India, for diverse energy demand and supply sectors leading up to 2047.

Union Cabinet cleared 4 months extension for 7th Pay Commission

Published on: 27-AUG-2015
Important for Exam: 6 people agreed

The Sixth Pay Commission was implemented with effect from 1 January 2006, the fifth from 1 January 1996 and the fourth from 1st January 1986.

Bandhan Financial Services started operations as Scheduled Commercial Bank

Published on: 24-AUG-2015
Important for Exam: 35 people agreed

Bandhan was a Kolkata based Micro Financial Institution.

R Gandhi panel recommended conversion of UCBs into Regular Banks

Published on: 21-AUG-2015
Important for Exam: 19 people agreed

The High Powered Committee on Urban Co-operative Banks (UCBs) under the chairmanship of RBI Deputy Governor R Gandhi was constituted on 30 January 2015.

Prasar Bharti, Digital Television Russia inked MoU

Published on: 20-AUG-2015
Important for Exam: 13 people agreed

The MoU is aimed at co-producing TV programmes, repackaging and dubbing popular programmes from the both countries.

RBI granted 'in-principle' approval to 11 Payment Banks applicants

Published on: 20-AUG-2015
Important for Exam: 29 people agreed

RBI's in-principle nod will be valid for a period of 18 months, during which time the applicants have to comply with the requirements under the Guidelines and fulfill the other conditions as may be stipulated by the Reserve bank.

Union Government advanced Budget 2016-17 preparations by over 2 months

Published on: 18-AUG-2015
Important for Exam: 4 people agreed

The Ministry said that in consonance with the objective of the government to have wider consultations with various stakeholders as well as to provide more time for planners, it has been decided to start the Budget exercise by middle of August 2015.

Union Government appointed two private sector professionals to head BoB, Canara Bank

Published on: 17-AUG-2015
Important for Exam: 23 people agreed

This is the first time that private sector professionals were appointed to head the Public Sector Banks (PSBs). Earlier, the heads of PSBs were selected from among the state-run banks or government officers.

RBI notified Interest Subvention Scheme 2015-16 of Union Government for banks

Published on: 14-AUG-2015
Important for Exam: 27 people agreed

The central bank in its notification said that interest subvention of 2 percent per annum will be made available to public and private sector banks provided they lend short term credit at the ground level at 7 percent per annum to farmers.

India & World Bank signed agreement of US$ 308.40 Million for NCRMP-II

Published on: 12-AUG-2015
Important for Exam: 23 people agreed

The project aims at to reduce vulnerability to cyclone & other hydro-meteorological hazards of coastal communities in Goa, Gujarat, Karnataka, Kerala, Maharashtra and West Bengal.

Union Ministry for Minority Affairs launched Nai Manzil Scheme in Patna

Published on: 11-AUG-2015
Important for Exam: 20 people agreed

The scheme will address educational and livelihood needs of minority communities in general and muslims in particular as it lags behind other minority communities in terms of educational attainments.

BHEL commissioned 500 MW Thermal Unit at Vindhyachal STPS

Published on: 10-AUG-2015
Important for Exam: 20 people agreed

With the commissioning of this unit, BHEL has now commissioned seven sets of 500 MW each aggregating to 3500 MW, the highest by BHEL in a power project.

BHEL commissioned 500 MW unit of Vindhyachal Super Thermal Power Station

Published on: 08-AUG-2015
Important for Exam: 12 people agreed

With this unit, BHEL has now commissioned seven sets of 500 MW each aggregating to 3500 MW at Vindhyachal power station, which is the highest by BHEL in a power project.

RBI relaxed Branch Authorisation Policy to allow banks to merge or close branches in urban areas

Published on: 07-AUG-2015
Important for Exam: 15 people agreed

The banks should ensure that they continue to fulfill the role entrusted to these branches under the government sponsored programmes and Direct Benefit Transfer Schemes.

CBDT signed two unilateral Advance Pricing Agreements to usher in tax certainty

Published on: 06-AUG-2015
Important for Exam: 12 people agreed

With this, the CBDT has so far signed 14 APAs of which 13 are unilateral APAs and one is a bilateral APA.

BSNL’s proposal to hive its towers into a new company got approval from Union Cabinet

Published on: 06-AUG-2015
Important for Exam: 9 people agreed

The decision will help BSNL to realign its structure in the highly competitive telecom sector. It will also help the public sector company to unlock its tower assets and improve its financial position.

FICCI, ILO signed MoU to establish National Coordination Centre for SCORE Training Services

Published on: 06-AUG-2015
Important for Exam: 9 people agreed

The objective of the MoU is to draw a framework for coordination and cooperation between the ILO and AIOE/FICCI that will result in phase-wise capacity building of the ‘Centre’ in the national coordination of SCORE training services in India.

Union Cabinet approved direct release of wages into bank accounts of MNREGA workers

Published on: 06-AUG-2015
Important for Exam: 10 people agreed

The decision is aimed at further streamlining the flow of funds and to empower state governments to deliver entitlements as per the objectives of the Act.

India to produce at least dozen billionaires among start-ups by 2020: ASSOCHAM

Published on: 03-AUG-2015
Important for Exam: 7 people agreed

The paper said that India will be among the top among the Asian start-ups along with the Chinese and the South East countries.

RBI decided to issue 10 rupees coins to commemorate International Day of Yoga

Published on: 31-JUL-2015
Important for Exam: 71 people agreed

The reverse of the coin bears the logo of "International Day of Yoga", with inscription "सामंजस्य एवं शान्ति के लिए योग" in Devnagri Script and "YOGA FOR HARMONY AND PEACE" around the logo and design.

Union Cabinet approved setting up of National Investment and Infrastructure Fund

Published on: 30-JUL-2015
Important for Exam: 17 people agreed

The fund will have an initial corpus of 20000 crore rupees which can be leveraged by infrastructure companies and was proposed by the Union Finance Minister Arun Jaitley in his Budget 2015-16

BEE signed agreement with RECPDCL for Partial Risk Guarantee Fund for Energy Efficiency

Published on: 23-JUL-2015
Important for Exam: 8 people agreed

PRGFEE, an innovative financing mechanism under Framework for Energy Efficient Economic Development (FEEED), is one of initiatives under National Mission for Enhanced Energy Efficiency.

Union Government extended Interest Subvention Scheme to banks

Published on: 22-JUL-2015
Important for Exam: 33 people agreed

Cabinet also approved a Central Agricultural University at Samastipur and revival of Banana Research Centre at Goraul in Vaishali, Bihar.

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