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General Awareness for MBA : 19 May to 22 May

May 25, 2015 13:12 IST

    Economy

    1. Union Ministry of Food Processing Industries on 18 May 2015 sanctioned proposals for setting up 30 new cold storage chains in the country.
    2. The Union Ministry of Finance on 19 May 2015 released the draft outline of Gold Monetization Scheme (GMS). The Ministry prepared the draft after due deliberations and consultations with various stakeholders which includes banks, refineries, hallmarking centers, jewelers’ associations, Reserve Bank of India (RBI) and various government departments. 
    3. The Security and Exchange Board of India (SEBI) on 20 March 2015 notified the SEBI (Mutual Funds) Regulations, 2015. The notified  regulations dropped the 20-25 rule requiring a minimum of 20 investors and a cap of 25 percent investment by an individual investor in a particular scheme, for certain foreign entities.
    4. The Union Cabinet on 21 May 2015 gave its approval for setting up of a new Ammonia-Urea Complex at Namrup in Assam. The complex will be set up on Public-Private Partnership (PPP) mode by a joint venture (JV).

    News

    1. John Forbes Nash Jr., the Princeton University mathematician, died along with his wife in a car crash on 23 May 2015. He was 86. His taxi crashed on the New Jersey Turnpike in Monroe Township when the driver lost control.
    2. AIADMK General Secretary J Jayalalithaa was on 23 May 2015 sworn-in as the Chief Minister of Tamil Nadu for fifth time. Along with her, 28 others were sworn in as ministers in her Cabinet.
    3. The Appointments Committee of the Cabinet (ACC) on 22 May 2015 gave its nod for appointing G Mohan Kumar as the Secretary of the Ministry of Defence (MoD).
    4. President of the United States (US) Barack Obama on 20 May 2015 entered Guinness Book of World Record for reaching a million followers in a span of mere 5 hours after going live.
    5. Mirage 2000 fighter jet of Indian air force (IAF) on 21 May 2015 landed successfully on Yamuna Expressway as part of developing road runaway for emergency landing.
    6. Mirage 2000 fighter jet of Indian air force (IAF) on 21 May 2015 landed successfully on Yamuna Expressway as part of developing road runaway for emergency landing.
    7. Authorities of the Gangotri National Park in Uttarakhand on 21 May 2015 opened the Nelong Valley for tourists for the first time since its closure in 1962.
    8. Department of Science and Technology on 21 May 2015 said that India reached sixth position in terms of scientific publications. Earlier, India stood at the tenth position in terms of publishing scientific research papers in different journals.
    9. Veteran jazz musician Bob Belden passed away on 20 May 2015 after suffering a heart attack. He was 58. Belden was a jazz saxophonist, composer, arranger and producer who was among the first American musicians to perform in Iran since its 1979 revolution in 2015 when he toured there.

    Corporate

    1. A Vellayan was on 22 May 2015 stepped aside from the chairmanship of the Murugappa Group Corporate Board. He also relinquished the post of Chairman in the Coromandel International Ltd. and the EID Parry India Ltd.
    2. China-based Huawei Technologies Co. Ltd on 20 May 2015 launched LiteOS operating sytem meant for Internet of Things (IoT) based devices.
    3. Steel Authority of India Limited (SAIL) and ArcelorMittal on 22 May 2015 signed a Memorandum of Understanding (MoU) to set up an automotive steel manufacturing facility under a Joint Venture (JV) arrangement in India.
    4. Chief Minister of West Bengal Mamata Banerjee inaugurated the new headquarter of Coal India Ltd at New Town Rajarhat in West Bengal on 15 May 2015.
    5. Uttar Pradesh Food Safety and Drug Administration (UP FDA) on 20 May 2015 asked Nestle India to withdraw a batch of snack Maggi noodles from the market. UP FDA ordered the removal of the batch of popular snack after it found that the product contained high level of lead in it.
    6. HDFC Bank in partnership with Apollo Hospitals on 18 May 2015 launchedHDFC Bank Apollo Medical Benefits Card, a co-branded medical benefits card which allows corporates to disburse medical allowances to their employees and has insurance cover for accidents.
    7. GMR Infrastructure Ltd on 18 May 2015 signed a Memorandum of understanding (MoU) with Guizhou International Investment Corporation (GIIC) for developing Kakinada Special Economic Zone (KSEZ) in Andhra Pradesh.
    8. Infosys on 18 May 2015 announced to become carbon neutral by 2018. For this it earmarked an amount of 400 crore rupees. The company announced to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepens its commitment to sustainability.
    9. Infosys became the first Indian Company to Join RE100 Renewable Energy Campaign.  The Climate Group on 18 May 2015 announced it.
    10. Apple Inc on 18 May 2015 acquired Coherent Navigation to improve Apple Mapping capabilities. Coherent Navigations is a company focused on hyper-accurate GPS. Coherent Navigation's High Integrity GPS system is supposedly so granular that it can provide accurate location information to within a few centimeters.
    11. Reliance Jio Infocomm, a telecom subsidiary of Reliance Industries Limited (RIL), on 18 May 2015 signed a pact with Chinese telecom equipment manufacturer firm Huawei for sourcing various 4th Generation (4G) devices.
    12. Prime Minister of India Narendra Modi on 16 May 2015 inaugurated the first branch of ICICI Bank in China at Shanghai. The branch was inaugurated in presence of Chanda Kochhar, MD & CEO, ICICI Bank, Senior Chinese and Indian government officials.

    National

    1. Union finance Ministry on 20 May 2015 constituted Shah Committee to look into the issue of Minimum Alternate Tax (MAT) on Foreign Institutional Investors (FIIs).
    2. The India Meteorological Department (IMD) under the Union Ministry of Earth Sciences on 18 May 2015 signed Memorandum of Understanding (MoU) with Power System Operation Corporation Ltd (POSOCO) for optimum use of weather information/forecast in the power sector.
    3. Union Government on 18 May 2015 launched official website of National Institution for Transforming India (NITI) Aayog. The website is launched by Dr Arvind Panagariya, Vice Chairman, NITI Aayog. The website can be accessed on http://www.Niti.Gov.In.
    4. The Bangalore International Airport Limited (BIAL) on 15 May 2015 signed a seven-year multi-million dollar contract with the global aviation IT firm SITA.

    International

    1. 9th Session of the India-South Africa Joint Ministerial Commission (JMC) was held in Durban on 19 May 2015. The session was co-chaired by Minister for External Affairs and Overseas Indian Affairs Sushma Swaraj and Foreign Minister of South Africa Maite Nkoana-Mashabane.
    2. Six of the world’s biggest banks were on 20 May 2015 fined 5.7 billion US dollars on Foreign Exchange Benchmark Rates manipulation charges by various authorities in the USA and the UK’s Financial Conduct Authority.
    3. The European Union (EU) on 18 May 2015 approved a plan that empowers naval force to combat smugglers operating from Libya and tackle illegal migration in its territory. 
    4. The President of United States (US) Barack Obama on 18 May 2015 banned giving certain kinds of military-style equipment to local police forces. He also called for a broader shift in law enforcement practices across the country.

    Sports

    1. Mumbai Indians (MI) on 24 May 2015 won the eighth edition of the Indian Premier League (IPL). In the final clash played at Eden Gardens in Kolkata, Mumbai Indians defeated Chennai Super Kings (CSK) by 41-runs.
    2. Badminton World Federation (BWF) on 21 May 2015 released the latest single’s rankings. The ranking was topped by Ace shuttler Saina Nehwal. She was followed by Li Xuerui of China.
    3. The British sports business magazine SportsPro on 20 May 2015 released the World’s 50 Most Marketable 2015 report. According to SportsPro's listing of the top 50 most marketable athletes in the world for 2015, Eugenie Bouchard, Tennis player from Canada, topped the list.
    4. Joe Root and Charlotte Edwards on 18 May 2015 were named as England men’s and women’s cricketers of the year 2014-15 respectively.

     

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