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General Awareness for MBA : 16 December to 22 December

Get to know the most important news and happenings of the week (16 December – 22 December). It will help you in your preparation for General Awareness.

Dec 22, 2014 17:10 IST
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Economy

  1. The Union Finance Ministry on 19 December 2014 approved 8.75 percent interest rate on Provident Fund (PF) deposits for the year 2014-15.
  2. The Insurance Regulatory and Development Authority (IRDA) on 18 December 2014 imposed monetary penalty on Canara HSBC Oriental Bank of Commerce (OBC) Life Insurance Company Ltd and Anand Rathi Insurance Brokers for violating regulatory norms. 
  3. Union Ministry of Coal on 17 December 2014 notified the draft rules for e-auction of 92 cancelled coal mines in first phase. For this, government fixed a floor price of 150 rupees per tonne for sectors like captive power, steel, sponge iron and cement.
  4. The Reserve Bank of India on 17 December 2014 imposed monetary penalty on ICICI bank and Bank of Baroda for violation of its instructions regarding norms on Know Your Customer (KYC) and Anti Money Laundering (AML).
  5. The Cabinet Committee on Economic Affairs (CCEA) on 10 December 2014 approved the implementation of the Tea Development and Promotion Scheme of the Tea Board for the 12th Five Year Plan.

News

  1. India on 22 December 2014 celebrated National Mathematics Day. The day is observed to commemorate the birth anniversary of great Indian Mathematician Srinivasa Ramanujan. 
  2. Actress Billie Whitelaw of England died in London on 21 December 2014. She was 82. She was famous for her roles as Mrs Baylock in horror film The Omen.
  3. Indian-origin Vasan Srinivasan was on 18 December 2014  inducted into an Australian national body Australian Multicultural Council (AMC). He will be serving the council till 16 December 2017.
  4. National Aeronautics and Space Administration (NASA) and an international team of planetary scientists found an evidence in meteorites on Earth that indicates Mars has a distinct reservoir of water or ice near its surface.
  5. GSLV Mark-III-X was in news recently because Indian Space Research Organisation (ISRO) on 18 December 2014 launched it successfully from Satish Dhawan Space Centre at Sriharikota, Andhra Pradesh. 
  6. TVS chairman Venu Srinivasan was made Honorary Citizen of Busan, Korea on 18 December 2014. He was conferred with the citizenship for his efforts to enhance friendship and cooperation between India and Republic of Korea. 
  7. Noted Pakistan-born poetess Imtiaz Dharker was on 17 December 2014 awarded the Queen’s Gold Medal for Poetry 2014 for her latest poetry collection Over the Moon.
  8. Tashi Malik and Nungshi Malik from Dehradun, Uttarakhand on 16 December 2014 became the world’s first twin and sibling to climb the highest peaks of the seven continents. 
  9. Reverend Libby Lane was on 17 December 2014 appointed as the first female bishop of the Church of England. She will become the new Bishop of Stockport, a post that was vacant since May 2014.

Corporate

  1. Restaurant search service of Italy Cibando was acquired by online restaurant search firm Zomato on 19 December 2014. The terms of the deal are not disclosed.
  2. Empays, a provider company of multi-bank payment systems, on 17 December 2014 announced that its Instant Money Transfer (IMT) service has received authorisation from the Reserve Bank of India (RBI).
  3. IT services company HTC Global Services on 19 December 2014 acquired a US based firm CareTech Solutions Inc. Both companies are headquartered in Troy, Michigan.
  4. Jagran Prakashan Limited (JPL) on 16 December 2014 announced to acquire Music Broadcast Private Ltd (MBPL) in all cash deal. MBPL operates the popular Radio City FM station. The amount of the deal was not disclosed.
  5. Microsoft on 16 December 2014 launched the first phase of Skype Translator preview program. With this, Skype moved towards auto-translation.
  6. The historic Geeta Press on 16 December 2014 announced its lockout for an indefinite period after talks between its management and employees over wage issues failed.
  7. Indian-origin Shriti Vadera was on 12 December 2014 appointed as the Chairman of Santander UK, a major British bank. She will be the first woman to head a major British Bank.
  8. HDFC Bank on 16 December 2014 launched mobile banking facility Bank Aap Ki Muththi Mein. An initiative which turns a mobile phone into a bank branch.
  9. Bharti Airtel on 15 December 2014 sold over 1100 telecom towers in Zambia and Rwanda to IHS Holding. The amount was not disclosed by the company.
  10. Hinduja Brothers, Srichand and Gopichand Hinduja, in the second week of December 2014 acquired the iconic old war office building of Winston Churchill. The building will be restored and redeveloped into a five-star hotel and residential apartments.
  11. The Tamil Nadu Handloom Weavers Cooperative Society (Co-optex) on 15 December 2014 launched its online shopping portal offering a range of silk and cotton sarees.
  12. Japanese telecom & internet giant SoftBank Corp on 16 December 2014 announced its third investment of 570 crore rupees in Housing.com.

International

  1. Constitutional court of South Korea on 19 December 2014 ordered the dissolution of leftist Unified Progressive party (UPP) accused of pro-North Korea activities.
  2. Pakistan on 19 December 2014 became Associate Member Sate of CERN (European Organization for Nuclear Research).
  3. The United States and Cuba agreed on 17 December 2014 to restore diplomatic ties between the two countries. The US President Barack Obama and Cuba President Raul Castro announced the restoration of full diplomatic relations between the two countries.
  4. The US President Barack Obama on 18 December 2014 signed Ukraine Freedom Support Bill, 2014 passed by the US Congress. With this, the Bill has now become Ukraine Freedom Support Act, 2014.
  5. Union Home Ministry on 19 December 2014 issued guidelines to step up security in Schools.  The guidelines were issued across the country in the wake of attack on an Army-run school in Peshawar.

National

  1. Union Government introduced the Constitution (122nd Amendment) Bill, 2014 in the Lok Sabha on 19 December 2014. The introduction of this Bill will facilitate the introduction of the Goods and Services Tax (GST) regime in India.
  2. The Lok Sabha on 18 December 2014 passed the Motor Vehicles (Amendment) Bill, 2014 to legalize e-rickshaws by bringing them under the ambit of the Motor Vehicles Act, 1988.
  3. Union Government on 16 December 2014 announced that members of the minority communities from Pakistan, Afghanistan and Bangladesh will be given five years visa as part of government's effort to address their grievances and accord citizenship in future. Earlier, they were granted one-year visa.
  4. Union Government brought 52 new drugs under National Pharmaceutical Pricing Authority (NPPA) control to keep check on prices of essential medicines. The decision was notified by NPPA on 11 December 2014.

Sports

  1. Hariom Singh on 17 December 2014 won Gold medal in the Men’s 50-metre Rifle Prone event at the 58th National Shooting Championships held in Pune. Representing Indian Army Hariom won the Gold with a total of 205 in the finals.
  2. Rory McIlroy of Ireland on 16 December 2014 was named as the 2014 Race to Dubai European Tour Golfer of the Year. He won the award for the second time in three seasons. Earlier he won the award in 2012.
  3. The International Boxing Association (AIBA) on 17 December 2014 banned the Indian boxer Laishram Sarita Devi  for one year for not accepting her bronze medal at Asian Games 2014 medal ceremony.
  4. The Rio 2016 Olympics and Paralympics Games mascot have been named as Vinicius and Tom, respectively. The names were declared on 14 December 2014 after they were chosen by a public vote that was conducted over the past three weeks, since the mascots were unveiled.
  5. Five-time World Chess Champion Viswanathan Anand of India on 15 December 2014 won his maiden London Classic Chess title.
  6. Japanese teens Mima Ito and Miu Hirano became youngest table tennis champions on 13 December 2014 in table tennis World Grand Finals.
  7. Germany on 14 December 2014 won Hockey’s Champions Trophy for the year 2014. In the final match played at the Kalinga Stadium in Bhubaneswar, Odisha, Olympic Champions Germany defeated Pakistan by 2-0 margin.

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