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General Awareness for MBA: 29 April - 5 May

May 5, 2014 15:25 IST

    Economy
    1. The deadline for switching to new format bank cheques under the Cheque Truncation System (CTS) ended on 30 April 2014. The Reserve Bank of India (RBI) started the process of migration to CTS cheques in New Delhi and Chennai from 24 September 2011.
    2. The 28-member European Union (EU) on 28 April 2014 imposed a temporary ban on import of Alphonso mangoes and four vegetables from India. The ban will come into effect from 1 May 2014.

    News
    1. Chief Executive Officer (CEO) of Ford Motor Co Alan Mulally announced to retire on 1 July 2014. The announcement came on 1 May 2014. Current Chief Operating Officer of Ford motor Co Mark Fields will take over the charge as CEO from 1 July 2014.
    2. Four Indians won the Harvard Business School New Venture Competition (NVC) awards worth over 300000 dollars for new and innovative business and social impact start-ups. It was announced on 1 May 2014 by the Harvard Business School (HBS).
    3. State-run aerospace firm Hindustan Aeronautics Limited (HAL) on 1 May 2014 handed over a Dornier light-weight aircraft to the Defence Research and Development Organization (DRDO). The aircraft named as Nabhrathna signifying a jewel in the sky.

    Corporate
    1. Ranbaxy recalled 29790 packs of an allergy relief drug manufactured by Ohm Labs plant of Ranbaxy in New Jersey in the US, due to defective packaging. Ranbaxy’s decision was confirmed by the United States Food and Drug Administration (USFDA) on 2 May 2014 that the company started recalling the drugs in February 2014.
    2. Air India announced on 1 May 2014 to join largest global airlines network Star Alliance in July 2014. Air India became the first airline from India to be part of a global chain of carriers.
    3. The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on 29 April 2014 allowed intra circle 3G roaming for service providers.  
    4. Facebook on 24 April 2014 launched FB Newswire, acts as a repository of verified, real-time content for use of journalists and news publications. It is designed to help journalists share and embed newsworthy Facebook content that is made public by its members of Facebook.
    5. Steel Authority of India Ltd (SAIL) on 29 April 2014 won contracts to supply over 1.17 lakh tonnes of rails for two global tenders floated by Rail Vikas Nigam Limited (RVNL). The contracts have been given for major upcoming passenger rail line projects in the country.

    International
    1. The United States on 2 May 2014 announced 1.2 million US dollar aid package for Ukrainian Journalists.
    US Agency for International Development (USAID) will fund the aid. The aid aimed to protect vulnerable journalists and domestic governance in Ukraine.
    2. Namibian government on 30 April 2014 purchased 3400 India-made Electronic Voting Machines (EVMs) for use in the countries Presidential Election, scheduled in November 2014. With this Namibia became the first African country that will use such machines in any of its Polls.
    3. Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) was launched in the UAE in the fourth week of April 2014. A leading Indian financial and health care service player has tied up with the UAE Exchange to offer Mahatma Gandhi Pravasi Suraksha Yojana Scheme in the Gulf country.
    4. Slovakia and Ukraine signed a Framework Interconnection Agreement on gas supply on 28 April 2014. The deal signed in Bratislava, allows supply of gas from Central Europe to Ukraine via Slovakia.

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