India, Nepal sign three agreements including improvement of road network

Mentor 4 CA

India, Nepal sign three agreements including improvement of road network

India and Nepal today agreed to push for speedy and successful implementation of ongoing hydropower projects and development and operationalization of transmission lines.

In a press statement after holding delegation level talks with the visiting Nepal Prime Minister Pushpa Kamal Dahal Prachanda in New Delhi, Prime Minister Narendra Modi said, he and Mr Prachanda have agreed to focus on close monitoring and time bound completion of all development projects.

He said, peace, stability and economic prosperity of Nepal is shared objective of the countries. Mr Modi said, India will continue cooperation between defence and security agencies of the two countries to guard open borders that provide oppurtunities for people to people contact.

He said, the two leaders have agreed to show case shared Buddhist heritage and focus on the development of Ayurveda and other traditional systems of medicine.

Prime Minister Modi said, trade, connectivity, development projects and mutual investement are key pillars of India's partnership with Nepal.

He said, India's initiatives for open sky cross border power trade and transit routes would directly benefit Nepal and help strengthen bilateral economic partnership.

Mr Modi expressed confidence that the Nepal under the leadership of Mr Prachanda will successfully implement the constitution through inclusive dialogue.

The Nepalese Prime Minister in his statement said, his government is deeply committed to friendly relations with its neighbours and soon after assuming the office sent special envoy to India to achieve this objective.

He said, Indo-Nepal parternship is crucial to unlock huge potential of bilateral relationship. The visiting dignitary said , India and Nepal are friends and are bound to remain friends because of close links.

The two countries signed MoU for project management consultancy services for upgradation and improvement of road infrastructure in Terai area of Nepal.

India also gave 750 million dollar line of credit for post earthquake reconstruction of the Himalayan nation.

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Indian football team jumps four places in latest FIFA rankings

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Indian football team jumps four places in latest FIFA rankings

The Indian football team has jumped four places in the latest FIFA rankings released today.

India are now placed at the148th spot, on the back of an impressive 4-1 win over higher-ranked Puerto Rico last week in an international friendly in Mumbai.

India thus returned to top-150 for the first time since April 2015, when they were ranked 147th. Puerto Rico are now ranked 138th.

India are now 26th among Asian Football Confederation countries, with Iran at the top at 37th, followed by Australia at 45th and Korea Republic at 47th.

Argentina continue to top the overall list, followed by Belgium, Germany, Colombia and Brazil.

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Davis Cup: India's Ramkumar Ramanathan to take on Rafael Nadal

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Davis Cup: India's Ramkumar Ramanathan to take on Rafael Nadal

In Davis Cup World Group Play-off, India will take on Spain. In the best of five tie, India's Ramkumar Ramanathan will be taking on 14-time Grand Slam Champion Rafael Nadal in the opening singles match on day one in New Delhi today.

The second singles of the tie will be between Saketh Myneni and world number 13 David Ferrer.

On the second day, experienced Leander Paes will pair up with Saketh to face French Open champions Feliciano Lopez and Marc Lopez.

In the reverse singles on Sunday, it will be Saketh's turn to clash with Nadal, while Ramanathan will lock horns with Ferrer.

The winners of the Tie will advane to the World Group. India had beaten Korea 4-1 in their Asia/Oceania Group I second round tie.

India and Spain have locked horns thrice so far in Davis Cup with the European nation leading the head-to-head record 2-1.

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World Bank chief Jim Yong Kim heads for 2nd 5-year term

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World Bank chief Jim Yong Kim heads for 2nd 5-year term

World Bank President Jim Yong Kim effectively won a second five year term after nominations to lead the global development bank closed on Wednesday with no other candidates proposed.

The World Bank executive board said in a statement that, following official procedures, it would formally meet with Kim as a candidate with the expectation of completing the selection process by the 2016 Annual Meetings, which take place on 7th to 9th of October.

Kim, a Korean-American medical doctor who has focused the World Bank on programs to reduce extreme poverty, earned solid backing for a second term from the United States, France, Germany, China, and other major shareholders of the bank.

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Odisha govt appoints Tuhin Kanta Pandey as new finance secretary

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Odisha govt appoints Tuhin Kanta Pandey as new finance secretary

The Odisha government has appointed 1987-batch IAS officer Tuhin Kanta Pandey as new finance secretary of the state.

He replaced R Balakrishnan, who is currently serving as development commissioner along with finance.

A government communiqué said yesterday that the SC/ST development secretary Surendra Kumar has been given additional charge of information and public relation while women and child development secretary Vishal Dev would also look after the sports and youth affairs department.

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Centre bans sharing of individual's Aadhaar details publicly

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Centre bans sharing of individual's Aadhaar details publicly

Agencies in possession of Aadhaar number of an individual will not be allowed to publish or post the information publicly.

Agencies will have to ensure security and confidentiality of the 12-digit resident identification number under the Aadhaar Act.

Speaking to AIR, Unique Identification Authority of India CEO Ajay Bhushan Pandey said the move is to restrict sharing and circulation of Aadhaar numbers to ensure the information is not misused.

AIR correspondent reports, as per the rules, the core biometric information, collected by the Authority, cannot be shared with anyone for any reason. Any violation of the Aadhaar Act will constitute an offence and is punishable under the Act.

The agencies that collect the Aadhaar number will also have to specify whether submission of the number or proof of Aadhaar is mandatory or voluntary.

The regulations also provide for obtaining consent of the Aadhaar number holder for collection, storage and use of the same for specified purposes.

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MOU signed between the GOI and AFDB for hosting the Bank’s Annual Meetings at Ahmedabad

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MOU signed between the GOI and AFDB for hosting the Bank’s Annual Meetings at Ahmedabad

India will be hosting the next Annual Meetings of the African Development Bank (AfDB) Group at Mahatma Gandhi Convention Centre, Ahmedabad from May 22 to May 26, 2017. 

This will be a mega international event to be attended by more than 5000 delegates from 80 member countries of the African Development Bank including the Governors, Alternate Governors, Executive Directors, policy makers and businesses.

A high level preparatory mission of AFDB, led by Ms NNENNA NWABUFO, Chairperson and Permanent Committee for Annual Meetings arrived in India on 6th September to visit and assess infrastructure and other facilities available at Ahmedabad and New Delhi.

The Secretary General of AfDB, Mr Vincent O. Nmehielle accompanied the delegation. The delegation met senior officers at Ahmedabad and at Dept of Economic Affairs, Ministry of Finance, New Delhi.

A MoU was signed between GOI and AFDB today regarding the holding of the Annual Meetings.  The MoU outlines the roles of Govt of India and AFDB.

The signatories to the MoU were Ms. Bandana Preyashi, Deputy Secretary (ADB-II/AfDB), Department of Economic Affairs(DEA), Ministry of Finance on behalf of the Government of of India and Mr Vincent O. Nmehielle, Secretary General of AfDB on behalf of the African Development Bank Group (AfDB).

The African Development Bank (AfDB) was established in 1963 with a view to promote the Economic Development and social progress of its regional members. India became member of the African Development Bank (AfDB) in 1983.  The Union Finance Minister and Secretary, Department of Economic Affairs (DEA), Ministry of Finance are the Governor and Alternate Governor of the Bank respectively.

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International Ozone Day 2016 is observed on 16th September

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International Ozone Day 2016 is observed on 16th September

The International Day for the Preservation of the Ozone Layer was proclaimed as 16 September in 1994 by the UN General Assembly. The day was selected to commemorate the signing of the Montreal Protocol on substances that deplete the ozone layer.

The theme for the 2016 International Day for the Preservation of the Ozone Layer to be marked on 16 September is: Ozone and climate: Restored by a world united

The theme is complemented by the tagline: Working towards reducing global-warming HFCs under the Montreal Protocol

The theme for this year's International Ozone Day recognizes the collective efforts of the parties to the Vienna Convention and the Montreal Protocol towards the restoration of the ozone layer over the past three decades and the global commitment to combat climate change.

As a result of concerted international efforts, the ozone layer is healing itself and is expected to recover by the middle of this century. In addition, the Montreal Protocol has significantly contributed to the mitigation of climate change by averting the emission of more than 135 billion tonnes of carbon dioxide equivalent into the atmosphere by simply phasing out ozone-depleting substances.

Additionally, as mandated by the "Dubai Pathway on Hydrofluorocarbons (HFCs)" adopted in 2015, parties are working within the Montreal Protocol to an HFC amendment in 2016 by first resolving challenges by generating solutions in the contact group on HFCs. According to scientific information, reducing HFCs under the Montreal Protocol can avoid 0.5°C of global warming by the end of the century, while continuing to protect the ozone layer.

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Current Affairs of the Day: 15th September 2016

Mentor 4 CA

Dear Readers,

Welcome to Mentor for Current Affairs. Here I am posting full day Current Affairs in Single Post which helps you to access all the points without missing any point.

1. New Governor for Arunachal Pradesh: V Shanmuganathan

2. Nawazuddin Siddiqui appointed brand ambassador of “Samajwadi Kisan Bma Yojana”

3. International Democracy Day being observed: 15th September

4. Aleksander Ceferin elected UEFA president, succeeds Michel Platini

5. Indian cyclists bag 6 medals on opening day of Track Asia Cup 2016

6. Prime Minister Shri N Modi greets engineers on occasion of Engineers Day

7. India Blue won Duleep trophy title in style

8. Graeme Hick signs deal to become Australia's batting coach

9. United States sign 38 billion dollars deal with Israel

10. Gionee signs (MoU) with Haryana for setting up mobiles manufacturing unit

11. India offers additional developmental assistance of one billion dollars to Afghanistan

12. Nepal Prime Minister to arrive in New Delhi on four-day visit

13. Ramesh Raskar honoured with innovation award for mentoring young people in technology

14. Madhya Pradesh government to release White Paper on malnutrition

15. Government reiterates, Jan Dhan Yojana continues to be robust scheme

16. Axis Bank ties up with Banaras Hindu University (BHU) to offer specialised banking courses

17. Vice-President to leave for Venezuela to participate in 17th NAM Summit

18. RCom - Aircel merger a strong challenger to Idea Cellular

19. Indian-American Abraham Verghese selected for National Humanities Medal 2015

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Banking Awareness Quiz for Bank Exams Set - 1

Mentor 4 CA

Dear Readers,

Welcome to Mentor for Current Affairs. Here I am presenting Banking Awareness quiz for upcoming bank exams like IBPS/BOB. Aspirants preparing for those exams can make use of these questions. Please do like my Facebook Page. Thank you.

1. The term “BANK” defined in the section 5(b) of _____________?

A. Reserve Bank of India Act, 1934

B. State Bank of India Act, 1955

C. Negotiable Instruments Act, 1881

D. Banking Regulation Act, 1949

E. Regional Rural Banks Act, 1975

2. When a Bank is financing an “International Business”, it in fact, is involved in which of the following?

A. Retail Banking

B. Unit Banking

C. Trade Finance

D. Project Finance

E. Micro Finance

3. Who among the following is the head of the US Central Banking Authority “Federal Reserve” [FED]?

A. William Yellen

B. Janet Yellen

C. Rose Yellen

D. Anna Yellen

E. Elizabeth Yellen

4. ₹ 1, 00,000 per Depositor across all banks is the maximum Deposit amount insured by Deposit Insurance & Credit Guarantee Corporation [DICGC] with effect from ____________onwards.

A. 1st May 1998

B. 1st April 2003

C. 1st May 1993

D. 1st April 2001

E. 1st May 1995

5. The “Retail Loans” given by commercial banks are generally for a duration of ___________

A. less than 1 year only

B. less than 3-5 years only

C. less than 5-7 years only

D. less than 10 years only

E. more than 10 years

6. We frequently read about “FEMA” in News Papers. What does the Letter “M” denotes in the Abbreviation “FEMA”?

A. Money

B. Marginal

C. Modified

D. Mutual

E. Management

7. “NIFTY” is National Stock Exchange of India’s benchmark stock market index for Indian Stock Market. How many companies that form part of NIFTY index?

A. 20

B. 30

C. 40

D. 50

E. 100

8. Which of the following rate is replaced the “Benchmark Prime Lending Rate” (BPLR)?

A. Bank Rate

B. Repo Rate

C. Base Rate

D. Savings Rate

E. MSF Rate

9. ____________ is a program of the government to cover the maximum population with bank accounts.

A. Financial Awareness

B. Financial Integrity

C. Financial Inclusion

D. Financial Exclusion

E. Financial Freedom

10. Which of the following is the abbreviation of “BCSBI”?

A. Banking Codes & Services Board of India

B. Banking Codes & Systems Board of India

C. Banking Codes & Standards Board of India

D. Banking Codes & Solutions Board of India

E. Banking Codes & Support Board of India

Answers:

1)d   2)c   3)b   4)c   5)c   6)e (Foreign Exchange Management Act)  7)d   8)c   9)c   10)c

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Static Awareness Quiz for Bank Exams - Set 1

Mentor 4 CA

Dear Readers,

Welcome to Mentor for Current Affairs. Here I am presenting Static Awareness quiz for upcoming bank exams like IBPS/BOB. Aspirants preparing for those exams can make use of these questions. Please do like my Facebook Page. Thank you.

1. What is the capital of “Kyrgyzstan”?

A) Ashgabat

B) Urumqi

C) Astana

D) Bishkek

E) Banjul

2. “Swami and Friends” book authored by ___________

A) K S Meghadutta

B) R K Narayan

C) Aravind Kour

D) Akhilesh Yadav

E) V.V. Giri

3. “National Journalism Day” is observed on __________

A) 17th January

B) 17th March

C) 17th May

D) 17th October

E) 17th November

4. According to CENSUS 2011, which of the following state having “Highest Sex Ratio” in India?

A) Madhya Pradesh

B) Gujarat

C) Kerala

D) Maharashtra

E) Punjab

5. “National Voter’s Day” is observed on __________

A) January 23rd

B) January 14th

C) January 25th

D) January 09th

E) January 28th

6. Book “The God of the Small Things” authored by ____________

A) Anita Nair

B) Shobhaa De

C) Kiran Desai

D) Arundhati Roy

E) Jhumpa Lahiri

7. Which of the following is the capital of “Denmark”?

A) Helsinki

B) Amsterdam

C) Copenhagen

D) Lisbon

E) Warsaw

8. “Kalinadi Hydroelectric Power Station” located at which of the following state?

A) Tamil Nadu

B) Karnataka

C) Andhra Pradesh

D) Telangana

E) Odisha

9. When is “World Population Day” observed?

A) 1st July

B) 26th July

C) 11th July

D) 18th July

E) 28th July

10. When is the currency of “Egypt”?

A) Pound

B) Dollar

C) Riyal

D) Dinar

E) Lira

Answers:

1)d   2)b   3)e   4)c   5)c   6)d   7)c   8)b   9)c   10)a

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Indian-American Abraham Verghese selected for National Humanities Medal 2015

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Indian-American Abraham Verghese selected for National Humanities Medal 2015

Indian-American physician-author, Abraham Verghese (61) has been selected for the prestigious 2015 National Humanities Medal.

President Barack Obama will bestow the honour upon Verghese along with 11 others recipient’s at a ceremony to be held in Washington on 21st September 2016.

He has been selected for the prestigious award for reminding us that the patient is the centre of the medical enterprise.

About Abraham Verghese:

He was born in Ethiopia to parents from Kerala who had worked as teachers. Currently, Abraham Verghese is a professor of medicine at the Stanford School of Medicine.

His work has emphasised empathy in medicine. He has authored several acclaimed books, including “My Own Country” and “Cutting for Stone”.

About National Humanities Medal:

National Humanities Medal bestowed upon individuals or groups whose work has deepened the nation’s understanding of human experience, broadened citizens’ engagement with history, languages, philosophy, literature and other humanities subjects. It was inaugurated in 1997.

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RCom - Aircel merger a strong challenger to Idea Cellular

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RCom - Aircel merger a strong challenger to Idea Cellular

Reliance Communications and Aircel's parent Malaysia's Maxis will own half each of the merged entity.

Anil Ambani led Reliance Communications (RCom) signed definitive agreements with Maxis Communications Berhad (MCB) for the merger of wireless businesses of Aircel Limited with itself, making it the largest-ever consolidation in the Indian telecom sector.

The RCOM-Aircel combination will create a strong operator clearly ranked amongst India’s top 4 telcos by customer base and revenues, also ranking amongst the top 3 operators by revenues in 12 important circles, said a company statement adding that the merged company will have the second-largest spectrum holding amongst all operators, aggregating 448 MHz across the 850, 900, 1800 and 2100 MHz bands.

Mr. Ambani expects this combination to create substantial long term value for shareholders of both, RCOM and MCB, given the benefits of the wide-ranging spectrum portfolio and significant revenue and cost synergies.

According to MCB, this deal further reinforces MCB’s commitment to India as MCB has invested in excess of Rs 35,000 crore ($ 5.2 billion) into Aircel, making this one of the largest foreign investments in the Indian telecom sector.

The merged entity will be one of India’s largest private sector companies, with an asset base of over Rs. 65,000 crore ($9.7 billion) and net worth of Rs. 35,000 crore ($5.2 billion).

The combined entity will enjoy substantial benefits of scale driving significant revenue growth, and capex and opex synergies with an NPV of Rs. 20,000 crore ($3 billion).

RCom and MCB will each hold a 50% stake in the merged entity, with equal representation on the Board of Directors and all Committees. The Company will be managed by an independent professional team under the supervision of the Board.

Rcom’s overall debt will reduce by Rs 20,000 crore ($3 billion) or over 40% of its total debt, and Aircel’s debt will reduce by Rs. 4,000 crore ($600 million), upon completion of the transaction in 2017.

On consummation of the merger, RCom and MCB are committed to additional equity infusion into merged company to further strengthen the balance sheet, fund future growth plans, and enhance financial flexibility, said the company statement adding that both parties are already in talks with leading international investors in this regard.

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Financial Awareness Quiz for bank exams Set - 1

Mentor 4 CA

Dear Readers,

Welcome to Mentor for Current Affairs. Here I am presenting Financial Awareness quiz for upcoming bank exams like IBPS/BOB. Aspirants preparing for those exams can make use of these questions. Please do like my Facebook Page. Thank you.

1. Which of the following carries out “Open Market Operations” (OMO)?

A) Ministry of Finance

B) Fixed Income Money Market Derivatives Association of India (FIMMDAI)

C) National Bank for Agriculture & Rural Development (NABARD)

D) Securities and Exchange Board of India (SEBI)

E) Reserve Bank of India (RBI)

2. The current “Banking Ombudsman Scheme” became operative from ____________

A) 1998

B) 2002

C) 2004

D) 2006

E) 2010

3. Which of the following statement (s) is/are CORRECT in context of “BSBDA- Small Account”?

A) Total credits in BSBDA-Small accounts should not exceed ₹ 1 lakh in a year.

B) Maximum balance in the BSBDA –Small account should not exceed ₹ 50,000 at any time.

C) The total of debits by way of cash withdrawals and transfers will not exceed ₹ 10,000 in a month.

D) Remittances from abroad cannot be credited to BSBDA - Small Accounts without completing normal KYC formalities.

E) All are correct

4. The savings bank account holders can transact a minimum of _______transactions (including both financial and non-financial transactions) free of charge in a month at other bank ATMs in other than 6 metros locations, viz. Mumbai, Delhi, Chennai, Kolkata, Bengaluru, & Hyderabad.

A) 3

B) 5

C) 6

D) 8

E) 10

5. As per RBI guidelines, which of the following category is NOT fall under Priority Sector?

A) Social Infrastructure

B) Export Credit

C) Education

D) Housing

E) Manufacturing sector

6. In the terms of economics, the recession occurring two times with a small gap in between is known as

A) Double Deflation

B) Deflation

C) Deep Recession

D) Double Dip Recession

E) Recession

7. Many Regional Rural Banks are given licence to open branches in small cities and towns. These licences were given by_________

A) Cabinet Committee on Economic Affairs (CCEA)

B) Reserve Bank of India (RBI)

C) National Bank for Agriculture & Rural Development (NABARD)

D) Indian Bankers Association (IBA)

E) Banking Codes & Standards Board of India (BCSBI)

8. Which of the following organization is created especially for providing credit to “SME” in India?

A) NABARD

B) SIDBI

C) IFCI

D) SBI

E) IDBI

9. What is “Forex”?

A) It is buying of foreign currency

B) It is selling of foreign currency

C) It is buying of one currency and selling of another currency

D) It is buying & selling of Gold in Commodity Market

E) It is buying & selling of shares in stock exchanges

10. “IRDA Act” was enacted in which year?

A) 1993

B) 1996

C) 1999

D) 2001

E) 2003

Answers:

1)e   2)d   3)e   4)b   5)e   6)d   7)b   8)b   9)c   10)c

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Vice-President to leave for Venezuela to participate in 17th NAM Summit

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Vice-President to leave for Venezuela to participate in 17th NAM Summit

Vice-President Mohammad Hamid Ansari will leave for Venezuela this afternoon to participate in the 17th Summit of the Non Aligned Movement or NAM.

The Summit is being held at Margarita Island in Venezuela on 17th and 18th of this month. The summit will be preceded by deliberations at the Ministerial and Senior Official levels.

17th NAM Summit is expected to bring together leaders from the 120 developing countries that are members of this Movement.

The NAM Summits are among the largest gathering of countries, after the United Nations.

India is one of the founding members of the Non Aligned Movement which came into being 55 years ago when leaders of 25 developing countries, including the then Prime Minister Jawahar Lal Nehru met at the 1961 Belgrade Conference.

The last NAM Summit was hosted by Iran in 2012.

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