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General Awareness for MBA : 2 September to 8 September

Get to know the most important news and happenings of the week (2 September – 8 September). It will help you in your preparation for General Awareness.

Sep 10, 2014 12:30 IST
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Economy

  1. Union Government on 4 September 2014 approved 7 percent hike in Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners. The notification of DA and DR will be effective from 1 July 2014. 
  2. India slipped to 71st position out of 144 countries by losing 11 places in the global competitiveness list of Geneva-based World Economic Forum (WEF) that came on 3 September 2014. 
  3. Reserve Bank of India on 1 September 2014 released the data on Balance of Trade and Balance of Payments. According to the Balance of Trade data, Current Account Deficit (CAD) of India narrowed down sharply to 1.7 percent of Gross Domestic Product (GDP) in the Quarter 1 (Q1) of the fiscal year 2014-15 as compared to 4.8 percent in the Q1 of 2013-14. Q1 refers to the period April–June.
  4. The Reserve Bank of India (RBI) on 1 September 2014 issued guidelines on implementation of Basel III Capital Regulations. The issued guidelines are to facilitate raising of non-equity regulatory capital instruments by banks under Basel III framework.
  5. Union Government on 1 September 2014 relaxed the import norms of Onion by allowing fumigation in India. The fumigation has been allowed up to 30 November 2014. The norms were relaxed in light of public concern over high prices of onion in the market.
  6. The Reserve Bank of India (RBI) on 1 September 2014 asked banks to set a timeline to process loans. The direction was issued to expedite credit decision. However, RBI didn’t set any particular time frame for it. 

News

  1. Ravindra Nath on 4 September 2014 assumed the charge of Chairman and Managing director (CMD) of National Small Industries Corporation Limited (NSIC).     
  2. Trade Unionist Bala Thampoe died on 1 September 2014 in Sri Lanka. He was 92. He played a major role in Sri Lanka’s labour movement for nearly seven decades.
  3. President Pranab Mukherjee on 8 September 2014 presented the Saakshar Bharat Awards 2014 at International Literacy Day Celebrations. The function was organized by Union Ministry of Human Resource Development at Vigyan Bhavan, New Delhi.
  4. Dr. Kamal Bawa, an Indian Scientist, on 8 September 2014 won the MIDORI Prize in Biodiversity 2014. Bawa was honoured for his research that included climate change in the Himalayas. 
  5. Court, an Indian movie written and directed by Indian writer Chaitanya Tamhane, on 7 September 2014 won the Lion of the Future – Luigi De Laurentiis award for a Debut Feature at the 71st Venice Film Festival. The film that is a multilingual courtroom drama, won the award for its striking narrative style. 

Corporate

  1. Bharti Airtel on 8 September 2014 announced an agreement with Eaton Towers to divest 3500 towers in 6 African nations. Under the agreement, Bharti Airtel signed a 10-year contract to sell and lease back these towers to Eaton. 
  2. Indian pharmaceutical major Cipla on 8 September 2014 announced a commercial collaboration with UK-based S&D Pharma to distribute its products in the Czech Republic and Slovakia.
  3. The Swedish company Electrolux agreed to buy a home-appliances unit of General Electric Company of Louisville for 3.3 billion US dollars in cash. The agreement was done on 8 September 2014. This acquisition would enable Electrolux to compete with Whirlpool in US Market. 
  4. Snapdeal on 4 September 2014 signed 50:50 Joint venture with Den Networks. The deal was aimed to extend its reach to television home shopping audiences.
  5. Bharti Airtel, the largest mobile operator in India, on 2 September 2014 launched Wynk Music app for Android and iOS. The app is a carrier agnostic music streaming mobile application. 
  6. V Nagarajan on 4 September 2014 took over as Director (Commercial) of Indraprastha Gas Ltd. (IGL). 
  7. GMR Infrastructure on 2 September 2014 signed Memorandum of Understanding (MOU) with Japan Bank for International Cooperation (JBIC) for infrastructure sector.

International

  1. South Africa on 3 September 2014 denied visa to Dalai Lama for Nobel Summit. He was scheduled to attend the 14th world summit of Nobel peace laureates in Cape Town in October 2014. 
  2. World Literacy Day was observed across the world on 8 September 2014. The theme of International Literacy Day 2014 is Literacy and Sustainable Development. The aim is to highlight the importance of literacy to individual, communities and societies.
  3. China on 5 September 2014 awarded China Book Award to JNU professor Priyadarsi Mukherji.
  4. Prime Minister of Australia, Tony Abbott visited India from 4 to 5 September 2014. Prime Minister Modi and Prime Minister Abbott held talks on bilateral, regional and multilateral issues. During the visit of Prime Minister of Australia to India, four Memoranda of Understanding (MoUs) were signed. 
  5. North Atlantic Treaty Organisation (NATO) Summit 2014 was held in Wales, UK from 4 to 5 September 2014. This was the first summit held in the United Kingdom since Margaret Thatcher welcomed NATO leaders to London in 1990.
  6. India-Japan Annual Summit 2014 was held at Tokyo, Japan on 1 September 2014. The Summit was held during the Prime Minister Narendra Modi five-day visit to Japan from 30 August - 3 September 2014.

National

  1. Union Finance Minister Arun Jaitley on 3 September 2014 constituted H R Khan panel to assess the amount of unclaimed deposits in the PPF accounts and Post Office saving schemes. H R Khan is the Deputy Governor of RBI.
  2. President Pranab Mukherjee on 3 September 2014 cleared the appointment of Justice Handyala Lakshminarayanaswamy Dattu as the 42nd Chief Justice of India. 
  3. Chandrakala Padia was on 4 September 2014 appointed as first women chairperson of Indian Institute of Advanced Study (IIAS).
  4. The Union Minister of Human Resource Development Smriti Irani on 6 September 2014 inaugurated KRITI Exhibition 2014. The exhibition was open for public from 6 September to 8 September 2014 at Dilli Haat in New Delhi.
  5. Union Government on 8 September 2014 extended the deadline for Central Government employees to file the details of their assets and liabilities till 31 December 2014. The previous date for filing the details was 15 September 2014.
  6. A Memorandum of Understanding (MoU) was signed between the National WAQF Development Corporation (NAWADCO) and the National Building Construction Corporation (NBCC) on 8 September 2014 for developing the WAQF properties.
  7. The Supreme Court on 5 September 2014 ordered to release undertrial prisoners who have completed half their maximum term without the completion of trial.

Sports

  1. Croatia’s Marin Cilic on 8 September 2014 won the Men’s Singles title of the US Open of Tennis. To win his first Grand Slam title, the 14th seed Cilic defeated 10th seeded Kei Nishikori of Japan in straight sets, 6-3, 6-3, 6-3. 
  2. Harika Dronavalli on 6 September 2014 won bronze at the women Grand Prix chess at the Asian Games. 
  3. World number one Serena Williams on 7 September 2014 won her third consecutive Tennis US Open trophy. 
  4. India’s Sania Mirza and her Brazilian teammate Bruno Soares on 5 September 2014 won the Mixed Doubles trophy of the US Open Tennis. In the title clash, the top seeded, Indo-Brazilian pair defeated the American-Mexican team of Abigail Spears and Santiago Gonzalez, 6-1, 2-6, 11-9.
  5. Indian Army's Lt Colonel Sudhakar Jayant on 5 September 2014 won the gold medal for the third time at the IWF World Masters Weightlifting Championships in Copenhagen, Denmark. 
  6. Midfielder Ritu Rani was selected to lead Indian women's hockey team in Asian Games 2014. It was announced by a panel comprising B P Govinda, Harbinder Singh and Surinder Kaur along with Director High Performance Roelant Oltmans and chief coach Neil Hawgood on 3 September 2014.

 

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