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in


GK Power Capsule August 2014 (The Hindu Review


1! RBI has held policy rates at current levels.
However RBIs move to cut SLR by 50 bps to 22
could provide ban!s an additional li"uidity o#
R$$%000 crore. &urrent #iscal year is e'pected to (o
up to 5.5 per cent #rom $.) per cent in last #inancial
year.
i! Ban! Rate * + ,-nchan(ed.
ii. &ash Reserve Ratio * $ ,-nchan(ed.
iii! Statutory Li"uidity Ratio 22 " (#e$reased
0!%"
iv! Repo Rate * / ,-nchan(ed.
v! Reverse Repo Rate * ) ,-nchan(ed.
vi. 0ar(inal Standin( Rate * + ,-nchan(ed.
2! -nion 1overnment appointed chairman o# 2oint
Intelli(ence &ommittee ,2I&. R3 Ravi as 3a(a
interlocutor. He was also appointment as &hie# o#
the 2oint Intelli(ence &ommittee.
&! 4ur!ey5s rulin( party named 6inance 0inister
Ah'et #avutoglu as (ew Pri'e )inister o#
4ur!ey.
4! 4hailand coup leader% 7rmy &hie# 8rayuth &han9
ocha was elected as the 8rime 0inister o# 4hailand.
%! Pro*! +! K! Tho'as was appointed as &hairman o#
Pu,li$ A$$ounts Co''ittee.
-! Ra:ni Ra;dan became the new &hairperson o# the
-nion 8ublic Service &ommission. She replaced
8ro#. < 8 7(rawal.
.! K + Chowdar/ appointed as new &hairman o#
&entral 0oard o* #ire$t Ta1es ,&B<4..
2! Arvind Gupta was appointed as #eput/ (ational
3e$urit/ Adviser!
4! -S actor and sin(er Harry Bela#onte was named #or
honorary 2ean Hersholt Humanitarian =scar
7ward.
10! Renowned a(riculture Scientist 0!3!
3wa'inathan was con#erred with an honorary
de(ree o# the #o$tor o* 3$ien$e ,/ the -niversity
o# 7(riculture in 6aisalabad% 8a!istan.
11! )u5a**ar Ali6 renowned #ilmma!er and poet% was
presented the 22nd Ra7iv Gandhi (ational
3ad,havana award!

12! <elhi -niversity pro#essor <r. Sunil >umar
received 1lobal South 7ward (iven by
International 8olitical Science 7ssociation ,I8S7..
1&! Bharatiya 0ahila Ban! Ltd ba((ed the &ore
Ban!in( System Initiative 7ward #or the year 20?$
4his 1> &apsule has been prepared by &areer 8ower Institute <elhi ,6ormerly >nown as Ban! 8ower.. 4his has been
prepared on the basis o# news and events appeared in 4he Hindu 3ewspaper in the month o# 7u(ust 20?$.

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at the 7sian Ban!in( and 6inance 9 Retail Ban!in(
7wards 20?$.
14! 3hah Ru8h Khan became the 7mbassador o# Turn
0a$8 Cri'e $a'paign o* 9nterpol!
1%! Russia (ranted a three9year residence permit to
@dward Snowden% the 6ormer -S intelli(ence
contractor turned whistleblower.
1-! +inod Ku'ar #uggal resi(ned as 0anipur
1overnor.
1.! 3heila #i8shit submitted her resi(nation as
Kerala Governor to 4he 8resident o# India.
12! 8resident 8ranab 0u!her:ee con#erred the
=utstandin( 8arliamentarian 7wards.
i. B28 leader 7run 2aitley received the award #or
the year 20?0
ii! &on(ress Aeteran >aran Sin(h received the
award #or the year 20??
iii! 2<,-. leader Sharad Badav received the award
#or the year #or 20?2
14! 0aharashtra (overnor > San!aranarayanan
resi(ned.
20! (uri al:)ali8i resi(ned as the Pri'e )inister o*
9ra; and accepted the candidacy o# <r. Haider al9
7badi% who was nominated by the 8resident o# Ira"
6ouad 0asoum to #orm the new (overnment.
21! 0amta Sharma% &hairperson o# the 3ational
&ommission #or Comen ,3&C. demitted o##ice.
22! <eputy 3ational Security 7dviser 3ehchal Sandhu.
2&! Syrian 1olan Hei(hts was in news in the #i#th wee!
o# 7u(ust 20?$ a#ter #orty9three -3 8eace!eepers
#rom 6i:i were held as hosta(e by an armed (roup
o# rebels.
24! Indian 7rmy discovered a tunnel in the 8allanwalla
sector alon( the Line o# &ontrol in 2ammu D
>ashmir.
2%! Bipan &handra% #ormer pro#essor o# history% died.
2-! =scar9winnin( British #ilmma!er and actor Richard
7ttenborou(h died. Richard 7ttenborou(h was
renowned #or his critically9acclaimed biopic on
0ahatma 1andhi.
2.! <R Anantha'urth/% an eminent >annada writer
died.
22! Corld9renowned yo(a (uru 0! K!3 9/engar died.
24! =s$ar:winning actor and comedian Ro,in
>illia's was #ound dead at his home.
&0! Pran Ku'ar 3har'a% the eminent $artoonist
who created the comic boo! character li!e &hacha
&haudhary and Sabu died.
&1! -nion Home 0inister Ra:nath Sin(h launched a
8lan Scheme o# 0ainstreamin( &ivil <e#ence in
<isaster Ris! Reduction at a #unction at Ai(yan
Bhawan in 3ew <elhi.
&2! Survey o# India the o##icial mappin( a(ency o# the
country alle(ed that 1oo(le continued to pollute
the internet with the map results o# Indias
classi#ied areas even a#ter bein( warned a(ainst it.
&&! 4he CH= called #or a ran(e o# tou(h re(ulations
that restricts the use o# e9ci(arettes.
&4! 4he CH= has declared @bola as 1lobal Health
@mer(ency. 4he decision was ta!en a#ter a two9
day emer(ency session held in 1eneva.
&%! 8resident o# Sierra Leone @rnest Bai >oroma
declared a public health emer(ency in Sierra Leone
to curb the deadly @bola outbrea!.
&-! 6ormer &omptroller and 7uditor 1eneral Ainod
Rai authored a ,oo8 titled (ot ?ust an
A$$ountant!
&.! 7 boo! titled 7ssassination o# Ra:iv 1andhiE 7n
Inside 2obF authored by 6ara; 7hmad was
released.
&2! 7 boo! titled Gu7arat@s su$$ess stor/ in >ater
)anage'ent was released. 4his boo! was written
by B28s 3ational &onvener o# Cater 0ana(ement
&ell% 3rira' +edire.
&4! 7 boo! 3tri$tl/ Personal6 )an'ohan and
Gursharan written ,/ #a'an 3ingh was
published. 4he boo! is the untold story o#
0anmohan Sin(h% Indias thirteenth 8rime
0inister% and his wi#e.
40! 3ivara'a8rishnan $o''ittee constituted by the
-nion 1overnment to suggest the pla$e to ,uild
the $apital $it/ o* Andhra Pradesh submitted its
report.
41! 8rime 0inister 3arendra 0odi set up a
Ra'anu7a' $o''ittee to identi*/ o,solete
laws.
42! 4he -nion 1overnment decided to appoint #ormer
RBI (overnor 0i'al ?alan as the head o* the
A1penditure )anage'ent Co''ission. He
would be tas!ed to su((est ways #or mana(in(
public #inances by reducin( #ood% #ertiliser and oil
subsidies to include #iscal de#icit.
4&! Lo! Sabha spea!er 3u'itra )aha7an appointed a
committee under the chairmanship o# #ormer
home secretary RK 3ingh to review Parlia'ent
se$urit/!
44! 4he -nion 0inistry o# Human Resource
<evelopment set up a #our member committee to
review the present status o* <niversities Grants
&ommission. 4he committee will be headed by
#ormer -1& $hair'an Hari Gauta'!


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4%! Indian 7ir 6orce and Russian 6ederation 7ir 6orce
started Indo9Russian 7ir 6orce @'ercise% Avia
9ndra:2014 at 7stra!han re(ion% near the &aspian
Sea in Russia.
4-! Indias #irst indi(enously9built stealth 7nti9
Submarine Car#are 9(3 Ka'orta was
commissioned in Indian 3avy by -nion <e#ence
0inister 7run 2aitley.
4.! S@BI imposed a penalty o# Rs.?G crore on Reliance
Industries Ltd. ,RIL. #or non9disclosure o# a !ey
earnin(s ratio.
42! SBI reported a G.G per cent rise in its net pro#it at
Rs.G%G$+ crore #or the #irst "uarter o# 20?$9?5.
44! 4he -nion Home 0inistry has recommended the
name o# hoc!ey wi;ard )a7or #h/an Chand *or
the highest $ivilian honour o* 0harat Ratna.
%0! Salman Rushdie has received the Hans &hristian
7ndersen Literature 7ward.
%1! B&&I has appointed #ormer 4est all9rounder Ravi
3hastri #ire$tor o* Cri$8et in the 9ndian team
#or the #ive9match =<I series a(ainst @n(land.
%2! T! )! 0hasin% &hairman and 0ana(in( <irector o#
Indian Ban!% has been elected as the Chair'an o*
9ndian 0an8s@ Asso$iation!
%&! 4he 3arendra 0odi (overnment is li!ely to name
Arvind 3u,ra'anian as its Chie* A$ono'i$
Adviser!
%4! 8resident 8ranab 0u!her:ee appointed Kal/an
3ingh6 +a7u,hai Ruda,hai +ala6 Ch! +id/asagar
Rao and )ridula 3inha Governors o* Ra7asthan%
>arnata!a% 0aharashtra and 1oa% respectively.
%%! 4he ?an #han Bo7ana provides *or a *ree 5ero9
balance ban! account with a debit card% Rs 1 la8h
a$$idental insuran$e poli$/ and Rs &06000 *ree
'edi$al insuran$e cover #or those who enroll
be#ore 2anuary 2H 20?5. <ependin( on the
per#ormance o# the accounts in the #irst si'
months% ban!s will later e'tend a Rs 5%000
overdra#t #acility% thereby turnin( the debit card
into a !ind o# credit card. 4he debit card is bein(
issued by Ru8ay o# the 3ational 8ayments
&orporation o# India. 7ccounts will opened with
any one document includin( electricityItelephone
bill% marria(eIbirth certi#icate #or address proo#
and 3R@17 :ob cardI identity card o# accredited
institutions #or identity proo#. Havin( an 7adhaar
cardInumber is not mandatory. 4hese accounts
can be lin!ed to aadhaar numbers later.
%-! 1overnment plans to hi!e its sta!e in I6&I Ltd to 5?
per cent by in#usin( Rs H0 crore in the country5s
oldest #inancial institution. 7t present the sta!e is
nearly $/ per cent.
%.! 1<8 (rew by 5.) per cent in the #irst "uarter o# the
#iscal% mar!in( the #astest (rowth since 0arch
20?2% accordin( to data released by the &S=. 4he
economy (rew at $.H per cent in the #ourth "uarter
o# last #iscal.
%2! Cholesale price inde' ,C8I.9based in#lation
dipped to a #ive9month low o# 5.?+ per cent in 2uly.
%4! State9owned ban!s are li!ely to hit the capital
mar!ets in 3ovember in a bid to meet Basel III
capital ade"uacy norms% #or which the re"uirement
has been estimated at Rs.2.$0 la!h crore over a
#ive9year period.
-0! 3/ndi$ate 0an8 Chair'an:$u':)anaging
#ire$tor (C)# 3!K! ?ain was arrested by the
&entral Bureau o# Investi(ation% alon( with his
brother9in9law and #our others% #or alle(edly
receivin( a bribe o# Rs. 50 la!h.
-1! 7 Bill to #urther empower S@BI to chec! #raudulent
investment schemes was introduced in the Lo!
Sabha.

-2! R09 issued dra*t guidelines *or the
i'ple'entation o* 0harat 0ill Pa/'ent 3/ste'.
4he RBI has invited comments #rom sta!eholders
by September 5. 4he ob:ective o# the BB8S is to
implement an inte(rated bill payment system
across the country and o##er interoperable and
accessible bill payment service to customers
throu(h a networ! o# a(ents% enablin( multiple
payment modes and providin( instant
con#irmation o# payment.
-&! &haired by Reserve Ban! 1overnor Ra(huram 1.
Ra:an the Sub9&ommittee o# the 6inancial Stability
and <evelopment &ouncil ,6S<&. reviewed the
domestic macro economy and potential ris!s
#acin( the #inancial system.
-4! S@BI approved the S@BI ,Real @state Investment
4rusts. Re(ulations% 20?$% and S@BI
,In#rastructure Investment 4rusts. Re(ulations%
20?$. 4he S@BI move will provide a #ramewor! #or
re(istration and re(ulation #or settin( up and
listin( o# Real @state Investment 4rusts ,R@I4s.
and In#rastructure Investment 4rusts ,InvI4s. in
India. =nce re(istered% the R@I4 will raise #unds
throu(h an initial o##er. Subse"uent raisin( o#
#unds would be throu(h #ollow9on o##er% ri(hts
issue and "uali#ied institutional placement. 4he
minimum subscription si;e #or units o# R@I4 will
be Rs. 2 la!h.
-%! )ood/@s said the countrys 1<8 would (row ,/ %
per $ent this year and accelerate #urther in 20?5.


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--! =n a Supreme &ourt directive% S@BI has issued a
public notice as!in( those holdin( bonds issued by
two Sahara 1roup companies to apply #or re#und
by September G0.
-.! RBI as!ed the State (overnments to be vi(ilant
a(ainst unauthorised deposit mobilisation
activities in di##erent parts o# the country.
-2! 4he -nion Rural <evelopment 0inistry has
su((ested doublin( the amount o# #inancial
assistance o##ered to villa(ers to build homes
sayin( the current allocation o* Rs .06000 was
Jinsu##icientJ. 7 paper on 3ational Gra'in Awaas
)ission ,a rechristened version o# 9ndira Awas
Bo7ana prepared by the ministry on housin( said
the amount should be Rs ?.5 la!h.
-4! India has decided to ac"uire -S Boein(5s &hinoo!
and 7pache helicopters% an Indian de#ence ministry
o##icial said% in a deal valued at K2.5 billion. 4he
deal topped the a(enda durin( a visit by -.S.
<e#ence Secretary &huc! Ha(el in 7u(ust.
.0! 4he much9awaited minimum monthly pension o#
Rs 16000 and a higher wage $eiling o* Rs 1%6000
#or social security schemes run by retirement #und
mana(er @86= will be implemented #rom
September ?.
.1! 1ovt li#ted the restriction o# supply o# only one
subsidised coo!in( (as L81 cylinder to a
household in a month% sayin( consumers can avail
their "uota o# ?2 bottles at anytime o# the year.
.2! India has banned Cin'e$$ani$a group o*
$o'panies #rom biddin( in contracts% a de#ence
ministry source said. In 2anuary% India cancelled a
5H09million9euro ,K)5? million. order with
6inmeccanicas unit 7(usta Cestland #or ?2 top9
end helicopters a#ter Italian prosecutors alle(ed
the de#ence (roup had paid bribes to Indian
o##icials to win the contract.
.&! 4he (overnment noti#ied the hi!e in #orei(n
investment limit in de#ence production to $+
#rom 2H approved by the cabinet recently. It said
even beyond the new limit o# $+% #orei(n
investment would be considered on case to case
basis by the &abinet &ommittee on Security.
.4! 4he (overnment will spend Rs 206000 $rore to
provide 'o,ile $onne$tivit/ in %%6000 villages%
which are still untouched by wireless telephony% in
the ne't #ive years.

.%! 1u:arat has (rabbed a lion5s share% $5 percent% o#
the country5s total e'ports that were made #rom
Special @conomic Lones or S@Ls durin( the year
20?G9?$.
.-! 1overnment has started the process #or setting up
*our new ultra 'ega power pro7e$ts in 0ihar6
?har8hand and =disha6 which will to(ether add
?H%000 0C capacity to the country5s power
(eneration. <)PP is a ther'al power pro7e$t o*
at least 46000 )> $apa$it/% with an appro'imate
investment o# Rs 25%000 crore. So #ar% #our -088s
have been awarded. =# this% Sasan ,0adhya
8radesh.% >rishnapatnam ,7ndhra 8radesh. and
4ilaiya ,2har!hand. have been ba((ed by Reliance
8ower. 4ata 8ower is operatin( the 0undra -088
in 1u:arat.
..! 1overnment hi!ed the import duty on both raw
and re#ined sugar to 2% per $ent *ro' the
e1isting 1% per $ent!
.2! <elhi has been ran!ed a dismal 111th out o* 140
world $ities in a latest glo,al livea,ilit/ study%
pointin( to the lac! o# urban plannin( across
India5s polluted and chaotic cities.
.4! Gu7arat *ollowed ,/ )aharashtra and >arnata!a
are the leadin( states attractin( si(ni#icant
investment in 9ndia@s hotels and touris'
industr/.
20! India ran8ed *i*th a'ongst top ten wind power
produ$ers in the world by addin( ?%)00 0C
capacity in 20?G% a report said. JChina was the
leading wind power produ$er by addin( ?H%?00
0C capacity in 20?G% #ollowed by -S7% 1ermany
and Spain%J Renewable 20?$ 1lobal Status Report
said.
21! 4he <e#ence 0inistry has decided a(ainst
blac!listin( British aircra#t en(ine manu#acturer
Rolls9Royce and allowed the armed #orces to do
business related to essential re"uirements with
the #irm% which is #acin( a &BI investi(ation #or
alle(edly payin( commissions and employin(
middlemen in contracts with H7L.
22! In a bid to end the a(itation a(ainst the &ivil
Services 7ptitude 4est ,&S74.% the -nion
(overnment said the @n(lish comprehension s!ills
component o# 8aper II in the &ivil Services
preliminary e'amination should not be included
#or (radation or merit.
2&! Tata:39A Airlines Limited announced that the
much9anticipated brand name o# its new airline
will ,e +istara or li'itless in Sans!rit with
auber(ine and (old its colours.
24! 8rime 0inister 3arendra 0odi waived o## 2ammu
and >ashmirs Rs. H09crore liability towards the
6ood &orporation o# India and announced &entral

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assistance o# Rs. /%000 crore #or #our ma:or road
pro:ects.
2%! 8rime 0inister 3arendra 0odi announced the
settin( up o# a new institution to replace the
Planning Co''ission.
2-! 7sian <evelopment Ban! said it will provide up to
)9+ billion loan to the country over the ne't three
years.
2.! India and Sin(apore decided to scale up ties in !ey
areas o# investment and trade which has witnessed
a hu(e sur(e #rom -S< $.2 billion to about -S<
?+.$ billion in the last one decade. @'ternal 7##airs
0inister Sushma Swara: visited Sin(apore.
22! &hina inau(urated its second railway line in 4ibet%
built at a cost o# -S< 2.?H billion% close to Indian
border in Si!!im% enhancin( mobility o# its military
in the remote and strate(ic Himalayan re(ion.
24! India5s economy is e'pected to record stron(er
(rowth momentum o* %!% per $ent in the $urrent
*is$al6 a$$ording to a <( report!
40! 37S7s 0ars rover% =pportunity% which landed on
the MRed 8lanet in 200$% is now the record holder
o# the o##9@arth rovin( distance a#ter accruin( $0
!ilometres o# drivin(% the 7merican space a(ency
said.
41! 7#ter the Corld 4rade =r(anisation ,C4=. #ailed
to a(ree on a 4rade 6acilitation 7(reement ,467.
or (lobal customs rules #ollowin( Indian
opposition India has re#used to a(ree on a 467
because it wants the C4= to decide
simultaneously on a hi(her limit on stoc!pilin( o#
a(riculture produce to #eed the poor.
42! #oordarshan progra''es will soon be available
across 7sia% @urope% 3orth 7#rica and 7ustralia%
courtesy a memorandum o# understandin( si(ned
by Prasar 0harati with Ger'an pu,li$ servi$e
,road$aster #euts$he >elle!
4&! 4he two9day 12th 0A39C $ountries ,Bra;il% South
7#rica% India and &hina. 0inisterial 0eetin( held
in (ew #elhi!
44! )an7ul 0hargava and Subhash >hot%
mathematicians o# Indian ori(in% are amon( ei(ht
winners o# the 9nternational )athe'ati$al
<nion awards6 announ$ed in 3eoul!