General Awareness for MBA : 24 February - 3 March
Get to know the most important Corporate news and happenings of the week (24 February – 3 March). It will help you in your preparation for General Awareness.
1. Reserve Bank of India (RBI) on 3 March 2014 extended the date for exchange of the pre-2005 banknotes to 1 January 2015. RBI in its latest released has advised the banks to facilitate the exchange of these notes for full value and without causing any inconvenience to the public.
2. The Union Ministry of Commerce and Industry and Uttar Pradesh Government launched the Delhi-Mumbai Industrial Corridor (DMIC) in Lucknow, Uttar Pradesh on 2 March 2014.
3. Union Government of India on 28 February 2014 raised the number of workdays, under MNREGA (Mahatma Gandhi National Rural Employment Guarantee Act 2005) from 100 days to 150 days.
4. Rural development agency National Bank for Agriculture and Rural Development (NABARD) announced to form a new concept called Joint Liability Group (JLG) on 24 February 2014 to provide institutional credit to small farmers like share croppers, oral lessees and agricultural laborers.
Merger & Acquisitions
1. UAE National Energy Company TAQA led consortium, the international energy and water Company of Abu Dhabi decided to acquire two hydroelectric power (HEP) plants for about 1.6 billion dollars on 2 March 2014. TAQA became the largest private operator of hydroelectric plants in India.
2. The largest telecom operator of India Bharti Airtel signed a strategic agreement with Loop Mobile (Mumbai circle) on 18 February 2014.
Worldfloat, a social networking site on 18 February 2014 announced that it had introduced e-commerce feature named Citydeals that would take on the major players like Flipkart, Snapdeal and OLX in discount deals market.
1. Union Ministry of Corporate Affairs notified new Corporate Social Responsibility (CSR) rules for companies on 27 February 2014. The new CSR rules will become effective from 1 April 2014. The new rules give effect to Section 135 and Schedule VII of the Companies Act, 2013, which relate to CSR related spending by companies.
2. The Supreme Court ordered the arrest of the Sahara chief Subrata Roy on 26 February 2014. The court ordered his arrest following his failure to appear before it in a case arising out of non refund of 24000 crore rupees to investors.
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