General Awareness for MBA : 15 July – 21 July

Get to know the most important news and happenings of the week (15 July – 21 July). It will help you in your preparation for General Awareness.

Updated: Jul 21, 2014 15:15 IST


  1. Central Board of Direct Tax (CBDT) on 17 July 2014 constituted a six-member empowered committee to reduce litigation at the dispute resolution forums in the Income Tax Department. The Committee will also suggest steps to reduce legal cases and has been asked to submit its report within two months.
  2. Reserve Bank of India (RBI) on 15 July 2014 announced to ease the infrastructure financing norms in order to encourage infrastructure development and affordable housing.
  3. The Securities and Exchange Board of India (SEBI) on 15 July 2014 barred founder of Satyam Computers, B Ramalinga Raju and four other top executives from accessing the capital markets for 14 years.
  4. The Reserve Bank of India (RBI) on 17 July 2014 issued draft guidelines for licensing of payments banks and small banks. Both these banks will be created with a common objective of furthering financial inclusion by adding value through adapting technological solutions to lowers costs.


  1. Business 20 (B20) Australia Summit was held in Sydney, Australia on 18 July 2014. At the Summit, the business leaders of G20 countries issued a blueprint for G20 leaders to boost economic and job growth and make global economy more resilient to deal with future shocks.
  2. The Global Innovation Index 2014 (GII) was released at the B20 Australia Summit held in Sydney on 18 July 2014. The 2014 Index was released by the Australia’s industry minister Ian Macfarlane. GII 2014 in its 9th edition covers 143 countries around the world and uses 81 indicators across a range of theme.
  3. Malaysia Airlines Boeing 777 plane, MH-17, was shot down over war-torn eastern Ukraine near the Russian border on 17 July 2014. The Plane was shot down at an altitude of 10000 meters (33000 feet).
  4. 7th India-Brazil-South Africa (IBSA) summit will be held in New Delhi, India in 2015. This was announced after Prime Minister Narendra Modi met South African President Jacob Juma on the sidelines of 6th BRICS Summit in Fortaleza, Brazil on 16 July 2014.
  5. Om Prakash Kohli on 16 July 2014 took oath of office as Governor of Gujarat. He succeeded Kamla Beniwal who was transferred to Mizoram by the President of India
  6. Environmentalist and social activist Chandi Prasad Bhatt on 15 July 2014 was awarded with the prestigious Gandhi Peace prize for 2013.


  1. B Ashok on 16 July 2014 took charge as Chairman of Indian Oil Corporation (IOC), the India’s largest oil firm.


  1. 7th BRICS Summit will be held in Russian city of Ufa in 2015. The announcement was made in Fortaleza Declaration on 16 July 2014 on the sidelines of 6th BRICS Summit in Fortaleza, Brazil.
  2. Bolivia on 18 July 2014 passed a law to legalise child labour for kids from age 10. The bill was approved by Bolivian Congress in June 2014. The bill was signed into law by the Vice President of Bolivia.
  3. 6th BRICS Summit was held in Fortaleza, Brazil on 15 July and 16 July 2014. The theme of the Summit was Inclusive Growth: Sustainable Solutions.
  4. India and Brazil on 16 July 2014 signed three agreements during the sixth BRICS Summit in Fortaleza, Brazil. The agreement was signed by Prime Minister of India Narendra Modi and Brazilian President Dilma Rousseff at the Brazilian President official residence the Itamaraty Palace.
  5. Bashar al-Assad was sworn in as Syria’s President in Damascus for a seven-year term on 16 July 2014. With this he became the President for the third consecutive term. He was re-elected after a presidential election that was held in June 2014. 


  1. Germany was ranked number One in the latest release of the FIFA's world rankings released on 17 July 2014. Germany improved its position by one places as it was ranked number two behind Spain until now.
  2. Philipp Lahm, the captain of Germany’s football team announced his retirement from international game on 18 July 2014. He announced his retirement just five days after Germany led by him won its fourth football World Cup beating Argentina
  3. The 127th edition of the Durand Cup Football Tournament will be held in Goa from 28th October 2014 to 9th November 2014. This was revealed by a Defence press release from Mumbai on 15 July 2014.
  4. Mahela Jayawardene, the former skipper of Sri Lankan cricket team, announced his retirement from Test cricket on 14 July 2014. He will retire from Test Cricket after the home series against Pakistan in August 2014
  5. Sim Bhullar became the first basketball player of Indian origin to join the National Basketball Association (NBA). He signed a summer contract in second week of July 2014 with the Sacramento Kings, a professional basketball team in the US.

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