Skip to main content

Daily GK Buzz - 26th February 2015

1. Cabinet nod to BRICS bank for contingency fund, dev projects

i. Union Cabinet on Wednesday cleared the creation of the proposed 5-nation BRICS bank that will mobilise resources for infrastructure projects and provide short-term liquidity to emerging economies in case of payment crisis.
ii. The setting up of the New Development Bank (NDB) and BRICS Contingent Reserve Arrangement (CRA) is for mobilising resources for infrastructure projects and providing short-term liquidity support to emerging economies in case of Balance of Payment crisis.


iii. India will hold the Presidency of the USD 100-billion NDB for the first six years. The Bank will be based in Shanghai. 
iv. Heads of the 5-nation BRICS group decided last year to create a development bank as well as a reserve fund to finance infrastructure projects and to head off future economic crises. 

2. Railway Budget 2015

i. Rail Minister Suresh Prabhu announced the 2015 - 16 Railway budget.
ii. He announced seventy seven new railway projects and sanctioned works on 7,000 km of double/third/fourth lines and commission 1200 km in 2015-16 at an investment of Rs 8686 crore. 
iii. Prabhu said that Rs 8.5 lakh crore will be invested in Railways over 5 years. 
iv. Prabhu said this budgetary allotment under capital is 84% higher than 2014-15. 

3. Six Indians among Forbes' 50 'Power Businesswomen 

i. Six Indian women CEOs and Managing Directors, including State Bank of India head Arundhati Bhattacharya and ICICI CEO Chanda Kochchar, have been named by Forbes magazine in its 50 'Power Businesswomen' from Asia.
ii. The Asia's 50 Power Businesswomen list showcases a year of accomplishments by the region's female entrepreneurs and executives.
iii. the Indian executives on the list are Akhila Srinivasan, MD/Non-Executive Director of Shriram Life Insurance/Shriram Capital, Biocon Founder, Chairman and MD Kiran Mazumdar Shaw, Axis Bank CEO and MD Shikha Sharma and Life Insurance Corp. of India MD Usha Sangwan 56 (India). 

4. Overdraft under Jan-Dhan is priority sector lending: RBI

i. RBI said bank overdrafts of up to Rs 5,000 in accounts opened under this financial inclusion mission will be treated as priority sector lending.
ii. Under PMJDY, the overdraft facility is permitted to Aadhaar-enabled accounts after "satisfactory operation" of accounts for six months. 
iii. As on 31st January, more than 12.54 crore accounts were opened under the scheme. 

5. Supreme Court allows 2G spectrum auction from March 4

i. The Supreme Court allowed the 2G spectrum auction scheduled to start from March 4, on the condition that the results will not be finalised without the court’s permission.
ii. The order covers the Telecom Disputes Settlement and Appellate Authority (TDSAT) as well. The Supreme Court will hear all the transferred petitions on March 26.
iii. It was further clarified that the telecom companies participating in the auction will not claim any benefit on the basis of equities and the order will be published on the website to avoid such claims.

6. Cabinet nod for 15000 MW grid-connected solar projects

i. Union Cabinet has approved the implementation of the scheme for setting up of 15,000 Mega Watt Grid-connected Solar Photo Voltaic Power projects under the National Solar Mission. This decision was taken at Union Cabinet meeting chaired by Prime Minister Narendra Modi. The scheme will be implemented through NTPC and NTPC Vidyut Vyapar Nigam Limited.
ii. It will be implemented under the National Solar Mission through state-run National Thermal Power Corporation (NTPC) Limited and its subsidiary NTPC Vidyut Vyapar Nigam (NVVN) Limited.
iii. In case of projects development both private and government companies can take part in it. But they will be allocated projects through international competitive bidding.

7. S&P raises India's GDP forecasts, says it's a bright spot in Asia

i. The ratings agency S&P raised its India GDP growth forecast to 7.9% from 6.2% for the year ending March 2016, citing as well rising investment and low oil prices.
ii. The revisions come after India this month changed the way it measures Asia's third-largest economy.
iii. At the same time, the ratings agency lowered growth forecasts for a slew of Asian countries, including China and Japan.
iv. S&P currently rates India at "BBB-" with a "stable" outlook.

Popular posts from this blog

Spotting Error Quiz IV - With Explanation For SSC Exam 2015

  Hello Readers, As you know that Spotting Error types question is an important part of competitive examinations and seldom any book provide you the detailed solution. So we have decided to provide you the previous year questions of  spotting error along with the Explanation . If you like it let us know, you can also ask for detailed solutions of questions that are bothering you. 1.     I found (a)/ the two first chapters of the book (b)/ particularly interesting. (c)/ No error (d) Answer    (b) Explanation : It should be   ‘the first two chapters’ . 2.     Bacon, the father of the English easy (a) / had a thirst (b) / of knowledge (c) / No error (d) Answer    (a) Explanation : The English means the citizen of England.   Article is not used before language

English Error Spotting - Previous Year Questions of SSC CGL

Competition Zenith brings you a post on Error Spotting to boost your English for competitive exams. We are providing you the specifically chosen questions from previous year papers of SSC CGL with the best possible explanation in simplest of the language. Below are some questions with explanation: Questions 1. Have trust on(a)/God and everything(b) /will be right.(c) /(d) No error 2. The cattles (a) /are grazing (b) /in the fields.(c) /(d) No error 3. He is one of (a)/ the best novelists (b) /that has ever lived. Do you agree? (c)/no error (d) 4. On a rainy day (a) /I enjoy to watch TV (b) / with a hot cup of tea.(c ) /no error(d) 5. No sooner did (a)/I reach (b)/ Patna railway station than the train departed(c)/no error (d) 6. There is no agreement (a) / between you and I (b) /so we are free to go our way(c) /no error (d) 7. A variety of books (a) / is available in the market (b) / to help the students qualify the competitive examinations.(c) /no error 8.

Easy way to understand Direct and Indirect speech rules

Introduction. There two ways to convey a message of a person, or the words spoken by a person to other person. 1.       Direct speech 2.       Indirect speech Suppose your friend whose name is Vipul tells you in College , “I will give you a pen”. You come to home and you want to tell your brother what your friend told you. There are two ways to tell him. Direct speech:   Vipul said, “I will give you a pen”. Indirect Speech:  Vipul said that he would give me a pen. In direct speech   the original words of person are narrated (no change is made) and are enclosed in quotation mark. While in indirect speech some changes are made in original words of the person because these words have been spoken in past so the tense will change accordingly and pronoun may also be changed accordingly. In indirect speech  the statement of the person is not enclosed in quotation marks, the word “ that ” may be used before the statement to show that it is indirect sp