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RRB OFFICER & ASSISTANT
GENERAL KNOWLEDGE NOTES.........................................................................................................................
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Countries, their capitals and currencies (Imp Marked As *)
Country Name Capital Currency
Afghanistan Kabul Afghani*
Albania Tirane Lek
Algeria Algiers Dinar*
Andorra Andorra la Vella Euro
Angola Luanda New Kwanza
Antigua and Barbuda Saint John's East Caribbean dollar
Argentina Buenos Aires Peso*
Armenia Yerevan Dram
Australia Canberra Australian dollar*
Austria Vienna Euro (formerly schilling)
Azerbaijan Baku Manat
The Bahamas Nassau Bahamian dollar*
Bahrain Manama Bahrain dinar
Bangladesh Dhaka Taka*
Barbados Bridgetown Barbados dollar
Belarus Minsk Belorussian ruble
Belgium Brussels Euro (formerly Belgian franc)*
Belize Belmopan Belize dollar
Benin Porto-Novo CFA Franc
Bhutan Thimphu Ngultrum*
Bolivia
La Paz
(administrative);
Sucre (judicial)
Boliviano
Bosnia and Herzegovina Sarajevo Marka
Botswana Gaborone Pula
Brazil Brasilia Real
Brunei
Bandar Seri
Begawan
Brunei dollar
Bulgaria Sofia Lev
Burkina Faso Ouagadougou CFA Franc
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Burundi Bujumbura Burundi franc
Cambodia Phnom Penh Riel
Cameroon Yaounde CFA Franc
Canada Ottawa Canadian dollar*
Cape Verde Praia Cape Verdean escudo
Central African Republic Bangui CFA Franc
Chad N'Djamena CFA Franc
Chile Santiago Chilean Peso
China Beijing Yuan/Renminbi*
Colombia Bogota Colombian Peso
Comoros Moroni Franc
Congo, Republic of the Brazzaville CFA Franc
Congo, Democratic Republic of the Kinshasa Congolese franc
Costa Rica San Jose Coln
Cote d'Ivoire
Yamoussoukro
(official);
Abidjan (de
facto)
CFA Franc
Croatia Zagreb Kuna
Cuba Havana Cuban Peso
Cyprus Nicosia Cyprus pound*
Czech Republic Prague Koruna
Denmark Copenhagen Krone
Djibouti Djibouti Djibouti franc
Dominica Roseau East Caribbean dollar
Dominican Republic Santo Domingo Dominican Peso
East Timor (Timor-Leste) Dili U.S. dollar
Ecuador Quito U.S. dollar
Egypt Cairo Egyptian pound*
El Salvador San Salvador Coln; U.S. dollar
Equatorial Guinea Malabo CFA Franc
Eritrea Asmara Nakfa
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Estonia Tallinn Kroon*
Ethiopia Addis Ababa Birr
Fiji Suva Fiji dollar
Finland Helsinki Euro (formerly markka)
France Paris Euro (formerly French franc)*
Gabon Libreville CFA Franc
The Gambia Banjul Dalasi
Georgia Tbilisi Lari
Germany Berlin Euro (formerly Deutsche mark)*
Ghana Accra Cedi
Greece Athens Euro (formerly drachma)
Grenada Saint George's East Caribbean dollar
Guatemala Guatemala City Quetzal
Guinea Conakry Guinean franc
Guinea-Bissau Bissau CFA Franc
Guyana Georgetown Guyanese dollar*
Haiti Port-au-Prince Gourde
Honduras Tegucigalpa Lempira
Hungary Budapest Forint
Iceland Reykjavik Icelandic krna
India New Delhi Rupee
Indonesia Jakarta Rupiah*
Iran Tehran Rial*
Iraq Baghdad Iraqi Dinar*
Ireland Dublin Euro (formerly Irish pound [punt])*
Israel Jerusalem Shekel*
Italy Rome Euro (formerly lira)
Jamaica Kingston Jamaican dollar
Japan Tokyo Yen
Jordan Amman Jordanian dinar
Kazakhstan Astana Tenge*
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Kenya Nairobi Kenya shilling*
Kiribati Tarawa Atoll Australian dollar
Korea, North Pyongyang Won
Korea, South Seoul Won
Kosovo Pristina Euro (German Mark prior to 2002)
Kuwait Kuwait City Kuwaiti dinar*
Kyrgyzstan Bishkek Som
Laos Vientiane New Kip
Latvia Riga Lats*
Lebanon Beirut Lebanese pound
Lesotho Maseru Maluti
Liberia Monrovia Liberian dollar
Libya Tripoli Libyan dinar*
Liechtenstein Vaduz Swiss franc
Lithuania Vilnius Litas
Luxembourg Luxembourg Euro (formerly Luxembourg franc)
Macedonia Skopje Denar*
Madagascar Antananarivo Malagasy franc
Malawi Lilongwe Kwacha
Malaysia Kuala Lumpur Ringgit*
Maldives Male Rufiya
Mali Bamako CFA Franc
Malta Valletta Maltese lira
Marshall Islands Majuro U.S. Dollar
Mauritania Nouakchott Ouguiya
Mauritius Port Louis Mauritian rupee
Mexico Mexico City Mexican peso*
Micronesia, Federated States of Palikir U.S. Dollar
Moldova Chisinau Leu
Monaco Monaco Euro
Mongolia Ulaanbaatar Tugrik
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Montenegro Podgorica Euro
Morocco Rabat Dirham
Mozambique Maputo Metical
Myanmar (Burma)
Rangoon
(Yangon);
Naypyidaw or
Nay Pyi Taw
(administrative)
Kyat
Namibia Windhoek Namibian dollar
Nauru
no official
capital;
government
offices in Yaren
District
Australian dollar
Nepal Kathmandu Nepalese rupee
Netherlands
Amsterdam; The
Hague (seat of
government)
Euro (formerly guilder)
New Zealand Wellington New Zealand dollar*
Nicaragua Managua Gold cordoba
Niger Niamey CFA Franc
Nigeria Abuja Naira
Norway Oslo Norwegian krone
Oman Muscat Omani rial
Pakistan Islamabad Pakistani rupee*
Palau Melekeok U.S. dollar
Panama Panama City balboa; U.S. dollar
Papua New Guinea Port Moresby Kina
Paraguay Asuncion Guaran
Peru Lima Nuevo sol (1991)
Philippines Manila Peso*
Poland Warsaw Zloty
Portugal Lisbon Euro (formerly escudo)
Qatar Doha Qatari riyal
Romania Bucharest Leu*
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Russia Moscow Ruble*
Rwanda Kigali Rwanda franc
Saint Kitts and Nevis Basseterre East Caribbean dollar
Saint Lucia Castries East Caribbean dollar
Saint Vincent and the Grenadines Kingstown East Caribbean dollar
Samoa Apia Tala
San Marino San Marino Euro
Sao Tome and Principe Sao Tome Dobra
Saudi Arabia Riyadh Riyal
Senegal Dakar CFA Franc
Serbia Belgrade
Yugoslav new dinar. In Kosovo
both the euro and the Yugoslav
dinar are legal
Seychelles Victoria Seychelles rupee
Sierra Leone Freetown Leone
Singapore Singapore Singapore dollar*
Slovakia Bratislava Koruna
Slovenia Ljubljana Slovenian tolar; euro (as of 1/1/07)
Solomon Islands Honiara Solomon Islands dollar
Somalia Mogadishu Somali shilling
South Africa
Pretoria
(administrative);
Cape Town
(legislative);
Bloemfontein
(judiciary)
Rand*
South Sudan Juba Sudanese Pound*
Spain Madrid Euro (formerly peseta)
Sri Lanka
Colombo; Sri
Jayewardenepura
Kotte
(legislative)
Sri Lanka rupee*
Sudan Khartoum Dinar*
Suriname Paramaribo Surinamese dollar
Swaziland Mbabane Lilangeni
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Sweden Stockholm Krona
Switzerland Bern Swiss franc*
Syria Damascus Syrian pound*
Taiwan Taipei Taiwan dollar
Tajikistan Dushanbe somoni
Tanzania
Dar es Salaam;
Dodoma
(legislative)
Tanzanian shilling
Thailand Bangkok baht
Togo Lome CFA Franc*
Tonga Nuku'alofa Pa'anga
Trinidad and Tobago Port-of-Spain Trinidad and Tobago dollar
Tunisia Tunis Tunisian dinar
Turkey Ankara Turkish lira (YTL)
Turkmenistan Ashgabat Manat
Tuvalu
Vaiaku village,
Funafuti
province
Australian dollar
Uganda Kampala Ugandan new shilling*
Ukraine Kyiv Hryvna
United Arab Emirates Abu Dhabi U.A.E. dirham
United Kingdom London Pound sterling*
United States of America Washington D.C. Dollar*
Uruguay Montevideo Uruguay peso
Uzbekistan Tashkent Uzbekistani sum
Vanuatu Port-Vila Vatu
Vatican City (Holy See) Vatican City Euro*
Venezuela Caracas Bolivar
Vietnam Hanoi Dong*
Yemen Sanaa Rial
Zambia Lusaka Kwacha*
Zimbabwe Harare Zimbabwean dollar*
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Awards In India
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Awards are a sign of pride and glory in anybodys life. Presenting an
award is the means to honor the talents, achievements, performance and
work for a lifetime of a person. Different awards have their own specific
fields of existence and each one of them adds there are numerous award
ceremonies that occur in India. The different kinds of awards are Music
Awards, Sports Awards, Literary Awards, Television Awards, Gallantry
Awards, Arts Awards and many more. The Indian celebrities like the
sportsmen, artists, actors and technicians are awarded in the different
fields on the basis of their abilities and passion. The Vir Chakra, Aram Vir
Chakra and Mahvir Chakra are presented to persons full of courage and
bravery. These are gallantry awards. Whereas the Kalidas Samman,
Ananda Purashkar, The Hindu Literary Prize,Rabindra Puraskar and
Vayalar Award celebrate the spirit of literature and literary valor in India
and various states of India. The awards that celebrated the talent of the
Bollywood film industry are Movie Awards, Apsara Film & Television
Producers Guild Awards, BIG Star Entertainment Awards, Dadasaheb
Phalke Award; Filmfare Awards etc are the different kinds of film awards
in India.
Awards From the Film Industry
Awards like Movie Awards, Filmfare Awards, and The Asianet Film Awards
etc celebrate the success of the films, actors, directors, writers and all the
other persons involved in making a feature film. The categories awarded
consists of Best Film, Best Male Debut, Best Supporting Actor, Best
Director, Best Comedian, Best Villain and many other
categories.Dadasaheb Phalke Award is the most notable award in films
given once a year by the Indian Government for involvement during ones
life to Indian films.Dadasaheb Phalke,the father of Indian cinema in 1969
founded this award.
Movie Awards
The most awaited annual film award named Bollywood Movie Awards was
held between of the year 1999 and 2007 in New York, United States, and
rest of the most loveable island across the world. The ceremony was held
for celebrating films from the Bollywood industry location; Mumbai, India.
Sports Awards
MAKA Award,Dronacharya Award,Dhyan Chand Award,Rajiv Gandhi Khel
Ratna Award are the list of the sports awards in India.
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Civilian Awards
Civilian Awards are a souvenir of honor which is awarded to the common
people for showing acts of bravery. Bharat Ratna, Padma Vubhushan,
Padma Bhushan and Padma Shri are the various civilian awards.
Gallantry Awards
The Gallantry Awards are those kinds of awards which are presented for
courage, valor and dignity. Its presented for bravery and audacity. There
are different types of gallantry awards like Param Vir Chakra, Vir Chakra
and Mahavir Chakra.
Music Awards
There was no trend for music awards as such for the past few years. But
after the Mirchi Music awards held in 2008 music is gaining a prominence
in the Bollywood Film Industry. The nominees for these awards are music
director, lyricists, male/female vocalists, song of the year and album of
the year.
Literary Awards
The Literary Awards are those awards which are given in the diverse fields
of literature.
Ananda Purashkar, The Hindu Literary Prize,The Rabindra Puraskar and
Vayalar Awards are the awards presented for excellence in literature.
International Organisations and their Headquarters
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Organisation Headquarters
UNO New York
UNICEF New York
UNESCO Paris
UNIDO Vienna
WHO Geneva
UNFPA New York
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Organisation Headquarters
ILO Geneva
IMF Washington DC
WTO Geneva
International Court Of Justice The Hague
International Atomic Energy Agency Vienna
World Bank Washington D.C.
International Committee of the Red Cross Geneva
International Maritime Organisation London
Universal Postal Union Berne
Food and Agricultural Organisation Rome
World Meteorological Organisation Geneva
SAARC Kathmandu
Amnesty International London
Transparency International Berlin
World Intellectual Property Organization Geneva
International Renewable Energy Agency Abu Dhabi (UAE) (Interim HQs)
Commonwealth of Nations London
International Standards Organisation Geneva
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IMPORTANT ORAGANIZATION & SUMMITS IN YEAR 2012:-
1.NUCLEAR SECURITY SUMMIT:-
2ND(2012)-SEOUL(SOUTH KOREA)
3RD(2014)-NEITHERLAND
2.BRICS(BRAZIL,RUSSIA,INDIA,CHINA,SA) SUMMIT:-
4TH(2012)-NEW DELHI
5TH (2013)-SOUTH AFRICA(SA)
3.G8 SUMMIT:-
38TH(2012)-DAVID CAMP,USA;
39TH SUMMIT(2013)-UK
4.G20 SUMMIT:-
7TH(2012)-LOS KABOS,MEXICO
8TH SUMMIT(2013)-ST.PETERSBERG,RUSSIA.
5.NAM(NON-ALIGNED MOVEMENT) SUMMIT:-
16TH(2012)-TEHRAN,IRAN
17TH(2015)-VENEZUELA,120 COUNTRY PARTICIPATE
6.SCO(SANGHAI COOPERATION ORGANISATION)SUMMIT:-
12 TH SUMMIT(2012)-BEIJING,ATTENDED BY S.M.KRISHNA
13TH(2013)-KYRGYZSTAN.
7.NATO SUMMIT:-CHIKAGO.
8.20 ASEAN MEETING 2012-PHNOM PENH,CAMBODIA
9.10TH BASIC SUMMIT:-NEW DELHI
10.EARTH SUMMIT:-RIO DE JANEIRO
11.WORLD ECONOMIC FORUM-DAVOS,SWITZERLAND.
12.9TH WORLD HINDI CONFERENCE-JOHANNESBERG.
TOTAL MEMBERS OF FAMOUS ORGANISATION:-
1.UNO(UNITED NATIONAL ORGINASATION):-193.
2.WTO(WORLD TRADE ORGANISATION):-157
3.WORLD BANK & IMF-188
4.EUROPEAN UNION-27.
List of Recently Appointed Person in 2013
Xi Jinping - President of China
Li Keqiang Prime Minister China
Shinzo Abe prime minister Japan
NicosAnastasiades President Cyprus
Park Guen_ hye president South Korea
Uhuru Kenyatta president Kenya
John Kerry - 68th Secretary of State of the US
Mohan Pieris - 44th Chief Justice of Sri Lanka
VedPrakash - UGC chairman
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Obama - US President (Second Term)
Suchitra Ella - Founding Chairwoman of CIIs women wing
Mo Yan (writer) and Jackie Chan (Actor) - New Members of Chinese Parliament
Subra Suresh - President of Carnegie Mellon University
Ratan Tata Member of National Academy of Engineering
Rajiv Shah Head of United States Agency for International Development (USAID).
Anil Dev Singh - New chief of IOA election panel
Scott Flemming - Indias basketball coach
Tony Hall - Director general of BBC
Ranjit Sinha - CBI Director
Barbosa - First non-white President of Brazils Supreme Court
Alok Joshi - New RAW chief
Rajeev Shahare - New High Commissioner to Maldives
Ajit Saran - Member Secretary of National Commission for Women
Virbhadra Singh - Himachal Pradeshs Chief Minister
Narendra Modi- Gujarat CM (4th time)
Cyrus Mistry - Tata Group Chairman
Asif Ibrahim - Chief of the Intelligence Bureau
Urjit Patel - RBI deputy governor
YV Reddy - Head of 14th Finance Commission
Ami Bera and TulsiGabbard - new members of the US House of Representatives
Srinivasan - Federal Judge (Re elected)
Justice D K - Law Commission chief
Vivek Rae MSME (Ministry of Micro, Small and Medium Enterprises) Secretary
Anil Kumble - Chairman of ICC Cricket Committee
Jaspal Rana - Junior pistol chief coach
Neiphiu Rio - Chief Minister of Nagaland (3rd Term)
Mukul Manda Sangma - Chief Minister of Meghalaya (2nd Term)
Ashwani Kumar - Governor of Nagaland
Bobby Ghosh - Editor of Time International (first non American)
Khil Raj Regmi - New Prime Minister of Nepal
D K Jain - Chairman of 20th Law Commission of India
Ashok Tomar- Indias ambassador to Brazil
Rakesh Mohan - Executive director of IMF board
VK Malhotra - Archery Association President (re-elected)
S. Ramakrishnan - Director of Vikram Sarabhai Space Centre (VSSC)
Luiz Felipe Scolari - Brazil Football team coach
Mohan - Vice president of IBSF (re-elected)
SachinDevPavithran (Visually Challenged) - Architectural and Transportation Barriers
ComplianceBoardmember
Ajit Pawar- Maharashtra Deputy CM
Chautala- IOA President
Parthasarathy Shome - Adviser to Finance Minister
ZiauddinYousufzai (Malalas Father) - UN Education Adviser, Education attache at the
Pakistan consulate in Birmingham, England
Vijay Kumar - Senior Security Adviser in Home Ministry
VinodRai - Chair of UN Auditors Panel (Re-elected)
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NainaLalKidwai - First Woman President of FICCI
Rita Singh - Federation of Indian Associations President
John Brennan - CIA director
HalimahYacob - First woman Speaker of Singapore
Kulwant Singh Gill - New Commandant of NDA
R.K. Dubey - Canara Banks new CMD
Rajkumar Goyal- Central Bank of India new Executive Director Resources Department
Jack Lew - New Treasury Secretary of US
Lord DolarPopat - Minister in the UK cabinet (First Gujarati in UK cabinet)
Subhash Joshi - BSF Chief
John Kerry - Americas Foreign Minister
Smita Singh - Member of Global Development Council
Maharatna CPSEs
1. Bharat Heavy Electricals Limited
2. Coal India Limited
3. GAIL (India) Limited
4. Indian Oil Corporation Limited
5. NTPC Limited
6. Oil & Natural Gas Corporation Limited
7. Steel Authority of India Limited
Navratna CPSEs
1. Bharat Electronics Limited
2. Bharat Petroleum Corporation Limited
3. Hindustan Aeronautics Limited
4. Hindustan Petroleum Corporation Limited
5. Mahanagar Telephone Nigam Limited
6. National Aluminium Company Limited
7. NMDC Limited
8. Neyveli Lignite Corporation Limited
9. Oil India Limited
10.Power Finance Corporation Limited
11.Power Grid Corporation of India Limited
12.Rashtriya Ispat Nigam Limited
13.Rural Electrification Corporation Limited
14.Shipping Corporation of India Limited
Miniratna Category - I CPSEs
1. Airports Authority of India
2. Antrix Corporation Limited
3. Balmer Lawrie & Co. Limited
4. Bharat Dynamics Limited
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BANKING AWARENESS
A Quick Guidance of Banking Awareness/and Important Info
1. Bank Rate
Bank rate also referred to as the discount rate, is the rate of interest which a central bank
charges on the loans and advances that it extends to commercial banks and other financial
intermediaries. Changes in the bank rate are often used by central banks to control the
money supply.
2. Repo Rate
Repo rate is the rate at which our banks borrow rupees from RBI. Whenever the banks have
any shortage of funds they can borrow it from RBI. A reduction in the repo rate will help
banks to get money at a cheaper rate. When the repo rate increases, borrowing from RBI
becomes more expensive.
3. Reverse Repo Rate
This is exact opposite of Repo rate. Reverse Repo rate is the rate at which Reserve Bank of
India (RBI) borrows money from banks. RBI uses this tool when it feels there is too much
money floating in the banking system. Banks are always happy to lend money to RBI since
their money is in safe hands with a good interest. An increase in Reverse repo rate can
cause the banks to transfer more funds to RBI due to these attractive interest rates.
4. CRR Rate
Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with
RBI. If RBI Decides to Increase the percent of this, the available amount with the
banks comes down. RBI is using this method (increase of CRR rate), to drain out the
5. SLR Rate
SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain
in the form of cash, or gold or govt. approved securities (Bonds) before providing
credit to its customers. SLR rate is determined and maintained by the RBI (Reserve
Bank of India) in order to control the expansion of bank credit. SLR is determined as
the percentage of total demand and percentage of time liabilities. Time Liabilities are
the liabilities a commercial bank liable to pay to the customers on their anytime
demand. SLR is used to control inflation and propel growth. Through SLR rate
tuning the money supply in the system can be controlled efficiently.
6. Inflation
Inflation is as an increase in the price of bunch of Goods and services that projects the
Indian economy. An increase in inflation figures occurs when there is an increase in
the average level of prices in Goods and services. Inflation happens when there are
fewer Goods and more buyers; this will result in increase in the price of Goods, since
there is more demand and less supply of the goods.
7. Deflation
Deflation is the continuous decrease in prices of goods and services. Deflation occurs
when the inflation rate becomes negative (below zero) and stays there for a longer
period.
8. PLR(Prime Interest Rate)
The Prime Interest Rate is the interest rate charged by banks to their most
creditworthy customers (usually the most prominent and stable business customers).
The rate is almost always the same amongst major banks. Adjustments to the prime
rate are made by banks at the same time; although, the prime rate does not adjust on
any regular basis. The Prime Rate is usually adjusted at the same time and in
correlation to the adjustments of the Fed Funds Rate. Some banks use the name
"Reference Rate" or "Base Lending Rate" to refer to their Prime Lending Rate.
9. Deposit Rate
Interest Rates paid by a depository institution on the cash on deposit.
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10. FII (Foreign Institutional Investor)
Foreign Institutional Investor used to denote an investor, mostly in the form of an
institution. An institution established outside India, which proposes to invest in
Indian market, in other words buying Indian stocks. FII's generally buy in large
volumes which has an impact on the stock markets. Institutional Investors includes
pension funds, mutual funds, Insurance Companies, Banks, etc.
11. FDI (Foreign Direct Investment)
FDI (Foreign Direct Investment) occurs with the purchase of the physical assets or a
significant amount of ownership (stock) of a company in another country in order to
gain a measure of management control (Or) A foreign company having a stake in an
Indian Company.
12. IPO (Public Offering)
IPO is Initial Public Offering. This is the first offering of shares to the general public
from a company wishes to list on the stock exchanges.
13. Fiscal Deficit
It is the difference between the governments total receipts (excluding borrowings)
and total expenditure.
14. Revenue deficit
It defines that, where the net amount received (by taxes & other forms) fails to meet
the predicted net amount to be received by the government.
15. GDP (Gross Domestic Product)
The Gross Domestic Product or GDP is a measure of all of the services and goods
produced in a country over a specific period; classically a year.
16. GNP (Gross National Product)
Gross National Product is measured as GDP plus income of residents from
investments made abroad minus income earned by foreigners in domestic market.
17. National Income
National Income is the money value of all goods and services produced in a country
during the year.
18. Per Capita Income
The national income of a country, or region, divided by its population. Per capita
income is often used to measure a country's standard of living.
19. Vote on Account
A vote-on account is basically a statement, where the government presents an
estimate of a sum required to meet the expenditure that it incurs during the first
three to four months of an election financial year until a new government is in place,
to keep the machinery running.
20. Difference between Vote on Account and Interim Budget
Vote-on-account deals only with the expenditure side of the government's budget, an
interim Budget is a complete set of accounts, including both expenditure and
receipts.
21. SDR (Special Drawing Rights)
The SDR (Special Drawing Rights) is an artificial currency created by the IMF in
1969. SDRs are allocated to member countries and can be fully converted into
international currencies so they serve as a supplement to the official foreign reserves
of member countries. Its value is based on a basket of key international currencies
(U.S. dollar, euro, yen and pound sterling).
22. SEZ (Special Economic Zone)
SEZ means Special Economic Zone is the one of the part of governments policies in
India. A special Economic zone is a geographical region that economic laws which
are more liberal than the usual economic laws in the country. The basic motto behind
this is to increase foreign investment, development of infrastructure, job
opportunities and increase the income level of the people.
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23. Corporate governance
The way in which a company is governed and how it deals with the various interests
of its customers, shareholders, employees and society at large. Corporate governance
is the set of processes, customs, policies, laws, and institutions affecting the way a
corporation (or company) is directed, administered or controlled. Is defined as the
general set of customs, regulations, habits, and laws that determine to what end a
firm should be run.
24. RBI Functions
The Reserve Bank of India is the central bank of India, was established on April 1,
1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The
Reserve Bank of India was set up on the recommendations of the Hilton Young
Commission. The commission submitted its report in the year 1926, though the bank
was not set up for nine years. To regulate the issue of Bank Notes and keeping of
reserves with a view to securing monetary stability in India and generally to operate
the currency and credit system of the country to its advantage." Banker to the
Government: performs merchant banking function for the central and the state
governments; also acts as their banker. Banker to banks: maintains banking accounts
of all scheduled banks.
25. Monetary policy
A Monetary policy is the process by which the government, central bank, of a country
controls. (i) The supply of money (ii) Availability of money (iii) Cost of money or rate
of interest In order to attain a set of objectives oriented towards the growth and
stability of the economy.
26. Fiscal Policy
Fiscal policy is the use of government spending and revenue collection to influence
the economy. These policies affect tax rates, interest rates and government spending,
in an effort to control the economy. Fiscal policy is an additional method to
determine public revenue and public expenditure.
27. Core Banking Solutions
Core banking is a general term used to describe the services provided by a group of
networked bank branches. Bank customers may access their funds and other simple
transactions from any of the member branch offices. It will cut down time, working
simultaneously on different issues and increasing efficiency. The platform where
communication technology and information technology are merged to suit core
needs of banking is known as Core Banking Solutions.
28. Bank, its Features and Types
A bank is financial organizations where people deposit their money to keep it safe.
Banks play an important role in the financial system and the economy. As a key
component of the financial system, banks allocate funds from savers to borrowers in
an efficient manner. Regional Rural Banks were established with an objective to
ensure sufficient institutional credit for agriculture and other rural sectors. The
RRBs mobilize financial resources from rural / semi-urban areas and grant loans and
advances mostly to small and marginal farmers, agricultural laborers and rural
artisans. (i) The area of operation of RRBs is limited to the area as notified by GoI
covering one or more districts in the State. (ii) Banking services for individual
customers is known as retail banking. (iii) A bank that deals mostly in but
international finance, long-term loans for companies and underwriting. Merchant
banks do not provide regular banking services to the general public. (iv) Online
banking (or Internet banking) allows customers to conduct financial transactions on
a secure website operated by their retail or virtual bank. (v) Mobile Banking is a
service that allows you to do banking transactions on your mobile phone without
making a call, using the SMS facility. Is a term used for performing balance checks,
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account transactions, payments etc. via a mobile device such as a mobile phone. (vi)
Traditional banking is the normal bank accounts we have. Like, put your money in
the bank and they act as a security and you will get only the normal interests
(decided by RBI in our case, FED bank in US). (vii) Investment banking is entirely
different. Here, people who are having so much money (money in excess which will
yield only less interest if in Banks) will invest their money and get higher returns. For
example, if I have more money instead of taking the pain of investing in share
market, buying properties etc. I will give to investment banks and they will do the
money management and give me higher returns when compared to traditional
banks.
29. E-Governance
E-Governance is the public sectors use of information and communication
technologies with the aim of improving information and service delivery,
encouraging citizen participation in the decision-making process and making
government more accountable, transparent and effective.
30. Right to information Act
The Right to Information act is a law enacted by the Parliament of India giving
citizens of India access to records of the Central Government and State
Governments. The Act applies to all States and Union Territories of India, except the
State of Jammu and Kashmir - which is covered under a State-level law. This law was
passed by Parliament on 15 June 2005 and came fully into force on 13 October 2005.
31. Credit Rating Agencies in India
The credit rating agencies in India mainly include ICRA and CRISIL.ICRA was
formerly referred to the Investment Information and Credit Rating Agency of India
Limited. Their main function is to grade the different sector and companies in terms
of performance and offer solutions for up gradation. The credit rating agencies in
India mainly include ICRA and CRISIL(Credit Rating Information Services of India
Limited).
32. Cheque
Cheque is a negotiable instrument instructing a Bank to pay a specific amount from a
specified account held in the maker/depositor's name with that Bank. A bill of
exchange drawn on a specified banker and payable on demand. Written order
directing a bank to pay money.
33. Demand Draft
A demand draft is an instrument used for effecting transfer of money. It is a
Negotiable Instrument. Cheque and Demand-Draft both are used for Transfer of
money. You can 100% trust a DD. It is a banker's check. A check may be dishonored
for lack of funds a DD cannot. Cheque is written by an individual and Demand draft
is issued by a bank. People believe banks more than individuals.
34. NBFC (Non-Banking Financial Company)
A non-banking financial company (NBFC) is a company registered under the
Companies Act, 1956 and is engaged in the business of loans and advances,
acquisition of shares/stock/bonds/debentures/securities issued by government, but
does not include any institution whose principal business is that of agriculture
activity, industrial activity, sale/purchase/construction of immovable property.
NBFCs are doing functions akin to that of banks; however there are a few differences:
(i) A NBFC cannot accept demand deposits (demand deposits are funds deposited at
a depository institution that are payable on demand -- immediately or within a very
short period -- like your current or savings accounts. (ii) It is not a part of the
payment and settlement system and as such cannot issue cheques to its customers.
(iii) Deposit insurance facility of DICGC is not available for NBFC depositors unlike
in case of banks.
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35. NASSCOM (National Association of Software and Services Companies)
The National Association of Software and Services Companies (NASSCOM), the
Indian chamber of commerce is a consortium that serves as an interface to the
Indian software industry and Indian BPO industry. Maintaining close interaction
with the Government of India in formulating National IT policies with specific focus
on IT software and services maintaining a state of the art information database of IT
software and services related activities for use of both the software developers as well
as interested companies overseas.
Mr. R Chandrasekhar President Krishnakumar Natarajan Chairman
36. ASSOCHAM ( Associated Chambers of Commerce and Industry of India)
India's premier apex chamber covers a membership of over 2 lakh companies and
professionals across the country. It was established in 1920 by promoter chambers,
representing all regions of India. As an apex industry body, ASSOCHAM represents
the interests of industry and trade, interfaces with Government on policy issues and
interacts with counterpart international organizations to promote bilateral economic
issues.
President Rana Kapoor
37. NABARD
NABARD was established by an act of Parliament on 12 July 1982 to implement the
National Bank for agriculture and Rural Development Act 1981. It replaced the
Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of
Reserve Bank of India, and Agricultural Refinance and Development Corporation
(ARDC). It is one of the premiere agencies to provide credit in rural areas. NABARD
is set up as an apex Development Bank with a mandate for facilitating credit flow for
promotion and development of agriculture, small-scale industries, cottage and
village industries, handicrafts and other rural crafts.
38. SIDBI (Small Industries Development Bank of India)
The Small Industries Development Bank of India is a state-run bank aimed to aid
the growth and development of micro, small and medium scale industries in India.
Set up in 1990 through an act of parliament, it was incorporated initially as a wholly
owned subsidiary of Industrial Development Bank of India.
39. Sensex and Nifty Sensex
Sensex and Nifty Sensex is the short term for the words "Sensitive Index" and is
associated with the Bombay (Mumbai) Stock Exchange (BSE).
The SENSEX was first formed on 1-1-1986 and used the market capitalization of
the 30 most traded stocks of BSE. Whereas NSE has 50 most traded stocks of
NSE. SENSEX IS THE INDEX OF BSE.
AND NIFTY IS THE INDEX OF NSE. BOTH WILL SHOW DAILY TRADING
MARKS. Sensex and Nifty both are an "index. An index is basically an indicator it
indicates whether most of the stocks have gone up or most of the stocks have gone
down.
40. SEBI (Securities and Exchange Board of India)
SEBI (Securities and Exchange Board of India) is the regulator for the Securities
Market in India. Originally set up by the Government of India in 1988, it acquired
statutory form in 1992 with SEBI Act 1992 being passed by the Indian Parliament.
Chaired by U.K. Sinha.
41. Mutual funds
Mutual funds are investment companies that pool money from investors at large and
offer to sell and buy back its shares on a continuous basis and use the capital thus
raised to invest in securities of different companies. The mutual fund will have a fund
manager that trades the pooled money on a regular basis. The net proceeds or losses
are then typically distributed to the investors annually.
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42. Asset Management Companies
A company that invests its clients' pooled fund into securities that match its declared
financial objectives. Asset management companies provide investors with more
diversification and investing options than they would have by themselves. Mutual
funds, hedge funds and pension plans are all run by asset management companies.
These companies earn income by charging service fees to their clients.
43. Non-Performing Assets
Non-performing assets, also called non-performing loans, are loans, made by a bank
or finance company, on which repayments or interest payments are not being made
on time. A debt obligation where the borrower has not paid any previously agreed
upon interest and principal repayments to the designated lender for an extended
period of time. The nonperforming asset is therefore not yielding any income to the
lender in the form of principal and interest payments.
44. Recession
A true economic recession can only be confirmed if GDP (Gross Domestic Product)
growth is negative for a period of two or more consecutive quarters.
45. Foreign Exchange Reserves
Foreign exchange reserves (also called Forex reserves) in a strict sense are only the
foreign currency deposits and bonds held by central banks and monetary authorities.
However, the term in popular usage commonly includes foreign exchange and gold,
SDRs and IMF reserve positions.
46. IMF( International Monetary Fund)
IMF is an international organization that oversees the global financial system by
following the macroeconomic policies of its member countries; in particular those
with an impact on exchange rates and the balance of payments. It is an organization
formed to stabilize international exchange rates and facilitate development.
What May Come In RRB'S (Points To Be Remember)(Imps)
--------------------------------------------------------------------------
*Current RBI Rates
a. CRR 4%
b. SLR 23%
c. Repo Rate 7.25%
d. Reverse Repo 6.25%
e. MSF 10.25%
f. Bank Rate 10.25%
*Fiscal deficit: a) Fiscal deficit seen at 5.2 % of GDP in 2012/13. b) Fiscal deficit
seen at 4.8 % of GDP in 2013/14. c) Fiscal deficit to 3 % by 2016/17 Revenue
Deficit: a) Revenue Deficit seen at 3.9 % 2012-13. b) Revenue Deficit seen at 3.3 %
2013-14. c) Revenue deficit to 1.9% by 2016-17.
Taxes: Service tax (12%), Custom duty (10%) & Excise duty (12%) remains
unchanged.
*HIGHLIGHTS OF RAIL BUDGET 2013-2014 1. 67 new express and 26 passenger
trains to be launched. 2. Educational tourist train "Azadi Express" proposed. 3.
Indian Railway Financial Management Institute to be set up at Secunderabad. 4.
Target of investment of 1 lakh crore through PPP mode in 12th FYP. 5. For the first
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time, Arunachal Pradesh brought under Rail Network. 6. Complementary passes for
Rajiv Gandhi Khel Ratna and Olympic awardees. 7. Dronacharya awardees to get
Shatabdi and Rajdhani passes.
*Main Points of Food Security Bill 2013: a) The food security bill approved is directed
towards giving the right to food to around 67 per cent of India's 120-crore
population (including 75% rural and 50% urban). b) While families in the poorest of
the poor will continue to get 35 kg of grains per month. c) Rice will be made
available at 3 Rupees per Kg.
d) Wheat will cost 2 rupees a kg and cereal will be sold for 1 Rupees per kg.
*Revolutions in the field of agriculture in India:
Black Revolution - Petroleum Production
Blue Revolution - Fish Production
Brown Revolution - Leather/non-conventional(India)/Cocoa production
Golden Fiber Revolution - J ute Production
Golden Revolution - Fruits/Overall Horticulture development/Honey Production
Green Revolution - Food grains
Grey Revolution - Fertilizer
Pink Revolution - Onion production/Pharmaceutical (India)/Prawn production
Red Revolution - Meat & Tomato Productio
Round Revolution - Potato
Silver Fiber Revolution - Cotton
Silver Revolution - Egg/Poultry Productio
White Revolution (In India: Operation Flood) - Milk/Dairy production
Yellow Revolution - Oil Seeds production
Evergreen Revolution - Overall development of Agriculture .
*IIFA 2013: a) Vidya Balan got the Best Actress Award at for Kahaani. b) Ranbir
Kapoor was named Best Actor for Barfi
c) The best debut actors are Yami Gautam and Ayushmann Khurrana.
d) 'English Vinglish' helmer Gauri Shinde bagged the best debut director award.
e) Former couple Ranbir and Deepika Padukone won best J odi award.
f) Gangs of Wasseypur won two awards, one for Best Action (Shyam Kaushal) and
the other for Best Dialogue (Zeishan Quadri, Akhilesh, Sachin Ladia and Anurag
Kashyap) was shared with J uhi Chaturvedi for Vicky Donor.
g) The award for Best Editing was won by Kahaani (Namrata Rao) and Best
Choreography went to Ganesh Acharya for Agneepath.
h) Ek Tha Tiger won the award for Best Special Effects (Pankaj Khanopur, Sherry
Bharda and Vishal Anand).
*NABARD is an apex institution, accredited with all matters concerningpolicy,
planning and operations in the field of credit for agriculture and other economic
activities in rural areas in India. The project contains informationabout the
agricultural finance operations of NABARD.
NABARD for the smooth running of the organization has developed man
ycommittees and departments of inspection, which enables for the efficientand
effective running of the organization.NABARD plays various roles and functions in
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various fields related toagricultural and rural promotion and development.Credit
financing one of the major functions of NABARD is further subdivided into different
types of refinance facilities, lower interest rates,production credit, investment credit,
and farm sector schemes.The second major function is promotional under which
NABARD has com eup with the Kisan Credit Card and other promotional schemes
which is of great convenience to farmers and banks. They have also developed
aresearch and development fund with the objective of acquiring new insights into
the problem of agriculture and rural development.
*Regional Rural Banks (RRBs) had been established to take the banking services to
the doorsteps of rural masses especially in remote rural areas with no access to
banking services. These banks were originally intended to provide institutional credit
to those weaker sections of the society at concessional rate of interest, who depend
on private money-lenders. The banks were also intended to mobilise and channelise
rural savings for supporting productive activities in the rural areas. However, with
effect from 22 March 1997, the RRBs were allowed to lend outside the target group
by classifying their advances into Priority Sector and others. Similarly the interest
rates on term deposits offered by RRBs have also been freed. Subsequently, it has
been decided to permit RRBs at their discretion to offer differential rate of interest
on their term deposits of maturity subject to certain conditions. The credit
outstanding of all the 196 RRBs stood at Rs. 32,870 crore as at the end of March
2005 and Rs. 62,143 crore was mobilized as deposits by RRBs till that date.
*The Reserve Bank of India (RBI) was established under the Reserve Bank of India
Act, 1934 on 1 April 1935 and nationalised on 1 J anuary 1949. The Bank acts as
banker to the Central Government, state governments, commercial banks, state co-
operative banks and some of the financial institutions. It formulates and administers
monetary policy with a view to ensuring stability in prices while promoting higher
production in the real sector through proper deployment of credit. RBI plays an
important role in maintaining the stability of exchange value of the rupee and acts as
an agent of the Government in respect of Indias membership of International
Monetary Fund. The Reserve Bank also performs a variety of developmental and
promotional functions. These apart, the Reserve Bank also handles the borrowing
programme of the Government of India.
The Reserve Bank is the sole authority for issue of currency in India other than one
rupee coins and subsidiary coins and notes.
As the agent of the Central Government, the Reserve Bank undertakes distribution of
one-rupees notes and coins, as well as small coins issued by the Government.
Composition of Banking System- Commercial Banking system in India consisted of
218 scheduled commercial books (including foreign banks) as on 31 March 2006. Of
the scheduled commercial banks, 116 are in public sector of which 133 are regional
rural banks (RRBs) and these account for about 75.2 percent of the deposits of all
scheduled commercial banks. The regional rural banks were specially set up to
increase the flow of credit to small borrowers in the rural areas. The remaining 28
banks in the public sector (i.e.), 19 nationalized banks, 8 Banks in SBI group and
IDBI Ltd. are commercial banks and transact all types of commercial banking
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business.
Amongst the public sector banks, as on 31 March 2006, the nationalized banks
(including IDBI Ltd.) group is the biggest unit with 33,868 offices, deposits
aggregating Rs. 10,13,664 crore and advances of Rs. 7,21,066 crore. The State Bank
of India group (SBI and its seven associates) with 13,820 offices, deposits
aggregating Rs. 4,90,375 crore and advances Rs. 3,50,961 crore is the second
largest unit.
*he Department of Revenue exercises control in respect of revenue matters relating
to direct and indirect Union taxes through two statutory boards, namely, Central
Board of Direct Taxes and the Central Board of Excise and Customs. This
Department is also entrusted with the administration and enforcement of controls
and regulatory measures provided in the enactments concerning Central sales tax,
stamp duties, gold control, foreign exchange and other relevant fiscal statutes.
Control over production and disposal of opium and its products is also vested with
this Department.
DIRECT TAXES
The Income Tax Department administers a number of Direct Tax Acts, namely, the
Income Tax Act, 1961, the Wealth Tax Act, 1957, the Gift Tax Act, 1958, Interest
Tax Act, 1974 and the Expenditure Tax Act, 1987.
INDIRECT TAXES
Customs and Union Excise duties are two major sources of indirect taxes. The
revenue from customs duty was Rs. 104119 crore during 2007-08. The revenue from
customs duty was Rs. 86327 crore during 2006-07. The revenue from Union Excise
duty (excluding cases adminstered by other departments) was Rs. 117613 crore
during 2006-07 and Rs. 123611 crore during 2007-08. Service Tax contributed Rs.
51301 during 2007-08 . Revenue from Service tax was Rs. 37598 crore during 2006-
07.
VALUE ADDED TAX
Introduction of State level VAT is the most significant tax reforms measure at state
level. The state level VAT being implemented presently is to replace the existing
state tax system of the states. The decision to implement state level VAT was taken
in the meeting of the Empowered Committee (EC) of state finance minister held on
18 J une 2004, where a broad consensus arrive at amongst the states to introduce
VAT from 1 April 2005. Accordingly VAT has been introduced by 23 States/Uts. Later
on in 2006 BJ P ruled states also implemented VAT. Now, it has been implemented in
Uttar Pradesh.
*There are 23 stock exchanges in the country, 20 of them being regional ones with
allocated areas. Three others set up in the reforms era, viz., National Stock
Exchange (NSE), the Over the Counter Exchange of India Limited (OTCEI) and the
Inter Connected Stock Exchange of India Limited (ISE) have mandate to have
nationwide trading.
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