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General Awareness for MBA: 6th August to 12th August

Aug 12, 2016 14:28 IST

    General awareness is a very important aspect for MBA aspirants. This article is aimed at enhancing your awareness about the current news and happenings that occurred globally in this week (6th August to 12th August). It will help you in your preparation for the competitive exams such as MAT, CMAT, NMAT, SNAP, IIFT, IRMA, FMS, XAT etc.

    ECONOMY

    1. National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 26.06 crore to the Punjab government. The project aims to reclaim 5,913 hectares of land in 87 villages of Muktsar and Fazilka districts. The fund has been sanctioned to tackle water logging thereby constructing lift schemes in low-lying areas, village ponds and other allied works.

    After the implementation of the project, farmers will be in the position to cultivate crops in the previously waterlogged areas after a long gap.

    2. Reserve Bank of India (RBI) has published the 3rd Bi-monthly Monetary Policy Statement, 2016-17. Raghuram Rajan the governor of announced the policy.

    Highlights of RBI's third bi-monthly monetary policy statement:

    Policy Instrument

    Rate

    Repo Rate

    6.50%- Unchanged

    Reverse Repo Rate

    6.00%- Unchanged

    Bank Rate

    7.00%

    Cash Reserve Ratio (CRR)

    4%- Unchanged

    Savings Deposit Rate

    4.00%

    Marginal Standing Facility Rate (MSF)

    7.00%- Unchanged

    Term Deposit Rate

    > 1 Year 7.00% - 7.50%

    NATIONAL

    1. Krishna Pushkar festival has begun in Telangana and Andhra Pradesh . It is a 12 day long festival and was inaugurated by the Telangana Chief Minister Chandrasekhara Rao.

    Source: statictemplates.sciensdemos.in

    The festival arrives once in every 12 years. Telangana government has made elaborate arrangements and over three crore people are expected to turn up for a holy dip at various places in Mahabubnagar and Nalgonda districts on the banks of the sacred river, Gondimalla Pushkar Ghat.

    2. Pradhan Mantri Fasal Bima Yojana will be implemented by Bihar Government on experimental basis. Approximately 50 lakh farmers, who had already taken the loan from banks, would benefit from the new scheme. This scheme is aimed at replacing the existing National Crop Insurance scheme. The last date for implementation of the scheme is August 15.

    Features of PMFBY

    Source: www.narendramodi.in

    3.  Maternity Benefit Act, 1961 has been amended by the Union Cabinet by introducing Maternity Benefit (Amendment) Bill 2016. The amendment in the act aims to raise maternity leave for women from 12 weeks to 26 weeks.

    The bill also provides 12 weeks leave for commissioning and adopting mothers and makes it mandatory to provide crèche facility for establishment where the number of workers is 50 and above

    Key Features of the Maternity Benefit (Amendment) Bill 2016:

    INTERNATIONAL

    1. China has launched a new high-resolution Synthetic Aperture Radar (SAR) imaging satellite Gaofen-3 from the Taiyuan Satellite Launch Centre in northern Shanxi Province. It is the 233rd flight mission by a Long March carrier rocket.

    Source: spacenews.com

    The Satellite will provide accurate pictures of earth by capturing detailed scenarios of its specific areas. Gaofen-3 is also China’s first low orbit remote sensing satellite that has a lifespan of 8 years.

    2. On September 26, External Affairs Minister Sushma Swaraj will address the 71st session of the United Nations General Assembly (UNGA) in New York, USA.

    Source: twitter.com

    The General Debate will open on September 20 and will extend till September 26. Brazil’s president will open the General Debate followed by the US President. The 71st session of the General Assembly will open on September 13.

    3. Kerala Tourism will ferry the message of 'A Faraway Land Four Hours Away' - with eye-catching visuals featuring hill stations, backwaters, waterfalls and also Ayurvedic therapies through the streets of Dubai through a promotional campaign in Dubai targeting Arab travelers.

    Source: tripsdmc.blogspot.com

    The campaign, inspired by the previous highly successful branding efforts on London taxis and the Mumbai metro, will run till August 15. The government has also given the administrative sanction for a budget of Rs. 60 lakh for Kerala Tourism’s marketing strategy.

    SPORTS

    1. on 7 August 2016, Dipa Karmakar, the Indian Gymnast created history by becoming the first Indian gymnast to enter the Olympic final at the Rio Olympic Centre. Competing in the third sub-division, Dipa had an average score of 51.665.

    Source: olympic-rio-16.com

    She scored 14.850 by performing her much-vaunted ‘Produnova’ vault cleanly on the vault, 11.666 on the uneven bars, 12.866 in balance beam and 12.033 in floor exercises. 

    2. On 11 August 2016, Michael Phelps won his fourth consecutive 200m individual medley Olympic title. This achievement rendered him became the first swimmer ever to win four consecutive golds in the same event.

    Source: edition.cnn.com

    It is for the first time that a swimmer earned at least three gold medals in four different Olympic Games. He has become the first swimmer to win the same individual event four times, surpassing the previous record of three held by Dawn Fraser and Krisztina Egerszegi.

    3. On 9 August 2016, Judoka Rafaela Silva won the women’s 57kh judo gold at Rio Olympics. She has won the first gold for the host country Brazil at the Olympic Games Rio 2016.

    Source: www.washingtonpost.com

    Silva’s grew up in host city Rio de Janeiro and finally became an Olympic champion despite the tough conditions of her native City of God favela.

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