1.India and Nepal signed a revised Double Taxation Avoidance Agreement (DTAA), which will facilitate exchange of banking and tax information and sharing it with law enforcement agencies.
2.The government had set up committee headed by Planning Commission member (Energy) B.K. Chaturvedi to suggest measures to increase coal production and increase its availability to meet the growing needs of the power sector. Prime Minister Manmohan Singh will consider the Chaturvedi Committee report that has suggested exempting imported coal from the 5 per cent customs and 5 per cent countervailing duty (CVD).
3.The 12th five year Plan (2012-17) aims to substantially boost R&D investments to two per cent of the country's GDP with half the contribution coming from the corporate sector.
4.Struggling to meet the 11th Plan revised target of 62,000 MW of capacity addition from 78,000 MW, due to shortage of coal, non-availability of gas, high cost of imported coal, the United Progressive Alliance-II government is preparing to unleash a second set of power sector reforms, including open access to consumers to choose their electricity supplier and restructuring of power utilities of seven major States — including Uttar Pradesh and Tamil Nadu.
5.Andhra Pradesh Chief Minister N. Kiran Kumar Reddy announced full waiver of interest on bank linkage loans up to Rs. 5 lakh from January 1, for women members of self-help groups who repay the loan on time.
6.European Commission said the India-EU free trade agreement (FTA) was likely to be finalised by the first quarter of 2012.
7.The Central Government sought Parliament's approval for Rs.30,000-crore fuel subsidy payout to state-run oil marketing companies (OMCs) during the first-half of the current fiscal.
8.The Reserve Bank of India deregulated the interest rate on savings accounts in urban co-operative banks (UCBs)
9.Union Cabinet gave its approval for 51 per cent foreign direct investment (FDI) in multi-brand retail and 100 per cent FDI in single-brand retail. The proposal for 51 per cent FDI in retail has come with certain riders, including approval to be taken from the Foreign Investment Promotion Board (FIPB), a minimum investment of $100 million by the foreign investor, putting 50 per cent of the total FDI in back-end infrastructure and procurement of 30 per cent of the products from small scale industries. The retail chains will be allowed only in cities with a population of more than 10 lakh as per the 2011 census. There are 51 cities with a population of more than one million, based on the 2011 census.
10.The government notified the increase in interest rates on PPF to from 8 to 8.6 per cent, and also raised the ceiling on annual contributions to the fund from Rs. 70,000 to Rs. 1 lakh. Interest rates on savings accounts held in post offices will go up from 3.5 to 4 per cent. The sale of Kisan Vikas Patras (KVP) will be discontinued from November 30. There was an apprehension about KVP, which was kind of a bearer instrument, that it was used for money laundering. The maturity period of monthly investment schemes (MIS) and national savings certificates (NSC) would be reduced from six to five years. MIS will earn an interest of 8.2 per cent. Every Rs. 100 invested in NSCs will fetch Rs. 150.90 at the end of five years.
11.India inked an agreement with the Eurasian Group (EAG), a group that enforces anti-money-laundering standards in the region. The EAG is a FATF- (Financial Action Task Force) styled regional body with nine members, including India, Russia and China, and 29 observers, of which 12 are countries and 17 are international organisations. India was accorded membership in the EAG in December last year.
12.The Union Cabinet approved the Companies Bill, 2011, a move that will help improve efficiency and increase accountability of the corporate sector. It will also make mandatory for companies to earmark 2 per cent of their average profit of the preceding three years for corporate social responsibility (CSR) activities.
13.State Bank of India (SBI) has decided to abolish pre-payment charges on home loans
1.The Food security Bill that proposes to cover 75 per cent population in rural areas and 50 per cent in urban areas for providing food grain on subsidised price (rice - 3 Rs/Kg, wheat - 2 Rs/Kg, Millet - 1 Rs/Kg) will be implemented from next fiscal year.
2.A Sister-State agreement between Maryland (USA), and Andhra Pradesh was signed by Chief Minister N. Kiran Kumar Reddy and Maryland Governor Martin Joseph O' Malley.
3.Calcutta Stock Exchange (CSE) launched operations on the National Stock Exchange (NSE) platform, becoming the only stock exchange in India to offer facility to trade on three trading platforms — Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and CSE — with a single membership.
4.Delayed forest clearance for captive mines could adversely impact development and financing of a large number of power projects, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said India risks missing the 1,00,000-MW capacity addition target for the 12th Plan.
5.Angry over the North Atlantic Treaty Organisation (NATO) attack on its border post near Afghanistan, Pakistan decided to boycott next week's Bonn Conference to decide on the future of Afghanistan.
6.Conference on global warming will begin in Durban (South Africa). The outcome of the U.N. climate conference will be decided by the interplay of forces between the Basic (Brazil, South Africa, India and China) group formed two years ago, the EU, and the umbrella group of developed countries, led by the U.S. and comprising Russia, Japan, Canada and Australia.
7.Economic growth slipped to a disappointing 6.9 per cent in the second quarter of this fiscal year (2011-12), the lowest in the last nine quarters. This prompted the government to lower its full-year growth projection to 7.3 per cent against 8.5 last fiscal. The latest projection by Mr. Mukherjee to 7.3 per cent is significantly lower than his Budget estimate of 9 per cent growth. The RBI has already lowered its growth projection for the current fiscal to 7.6 per cent from an estimated 8 per cent.
8.The Defence Research and Development Organisation (DRDO) developed Agni-I to bridge the gap between Prithvi, which has a range of 250 km, and Agni-II, which can strike targets 2,500 km away. Defence specialists say Agni-I, with a range of 700 km, is Pakistan-specific, capable of covering the entire western range.
9.Aamir Khan was appointed UNICEF Ambassador for promoting child rights and nutrition.
10. Following its ground-shaking downgrade of the United States' sovereign debt rating from AAA to AA+ on August 5, top credit rating agency Standard & Poor's downgraded several major U.S. and European banks this week and concurrently upgraded several Chinese financial institutions.
11.Major central banks around the globe took coordinated action to ease the strains on the world's financial system, saying they would make it easier for banks to get dollars if they need them. The European Central Bank, the U.S. Federal Reserve, the Bank of England and the central banks of Canada, Japan and Switzerland are all taking part. The central banks agreed to reduce the cost of temporary dollar loans they offer to banks called liquidity swaps by a half percentage point.
12.The Strategic Forces Command (SFC) of the armed forces successfully test-fired an Agni-I missile from the Wheeler Island, off the Odisha coast, to test its readiness to launch ballistic missiles carrying nuclear warheads. The Agni-I, developed by the Defence Research and Development Organisation (DRDO), is already in the Army's arsenal. The missile, with a range of 700 km, is Pakistan-specific would fill the gap between Prithvi-II, which has a range of 250 km and the Agni-II, which can take out places 2,500 km away. The Agni-V has a range of 5,000 km.
13.A year down the line public sector bank ATMs may start accepting cash directly through cash acceptors, have solar powered back-up, and 24x7 surveillance. These are some of the recommendations of a committee on ATMs headed by Dr Ashok Jhunjhunwala.
14.Insurance Regulatory and Development Authority (IRDA) came out with guidelines allowing life insurance companies, which have been in business for over ten years, to raise funds from the public through initial public offerings (IPOs).
15.The much-delayed guidelines on credit default swaps (CDS)-derivative instruments that allow lenders to pass on the credit risk to others-became effective from December 1. CDS are contracts where an investor in bonds or a lender (the user or protection buyer) gets a cover against default from another party (the protection provider).
16. During the first four years of the 11th Five-Year Plan period (2007-08 to 2010-11), the average annual growth rate of foodgrains production in the country has been 2.90 per cent. Production of food grains increased from 234.47 million tonnes in 2008-09 to 241.56 million tonnes in 2010-11.
17.India to see highest foreign remittances in 2011 (USD 58 billion): World Bank
18.After hovering above the 9 per cent mark for most of 2011, the United States' unemployment rate finally dropped to 8.6 per cent for November.
19.The current volatility in the stock market and withdrawal of FIIs has a direct correlation with the euro zone crisis. It will have some impact, particularly on FII flows. Mr. Mukherjee said Up to now, the indication is that FDI inflow is much better compared to last year, but FII outflow is an area of concern
20.The Reserve Bank said it will shortly issue Rs 1,000 and Rs 10 notes incorporating therupee symbol, which was approved last year.
21.The United Nations has warned that the world is at the cusp of another recession, pointing to the slowdown in economic growth in all countries including the growth engines- India and China. In a report 'World Economic Situation and Prospects 2012',UN has downgraded its global economic growth forecast by one percentage point for 2012 to 2.6% and 3.2% for 2013.
Union Bank of India -- Good people to bank with
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Syndicate Bank -- Your Faithful And Friendly Financial Partner
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Bank of India -- Relationships beyond Banking
Oriental Bank of Commerce -- where every individual is committed
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Max New York Life Insurance -- Your Partner for Life; "Karo Zyaada Ka Iraada"
Central Bank of India -- Build A Better Life Around Us
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ICICI Bank -- "Hum Hai na..."
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3.It is a nationwide plan to provide good all-weather road connectivity to unconnected villages of more than 500 persons in the rural areas (250 persons in the hilly and desert areas).
3.Under the programme, 90% grant is provided by Govt. of India and 10% as loan by Rural Electrification Corporation (REC) to the State Governments.
4.All the BPL families are eligible for free connections under the scheme.
·Indira Awaas Yojana(IAY):
1.Launched during 1985-86 as a sub-scheme and delinked from the Jawahar rojgar yojana (JRY) and has been made an independent scheme with effect from January 1, 1996.
2.Under Ministry of Rural Development
3.To provide grant for construction of houses to members of Scheduled Castes / Scheduled Tribes.
4.Funding is shared between the Centre & State in the ratio of 75:25.
·Bharat Nirman:
1.Launched in 2005 for Investing 1, 74, 000 crore in next four year for building rural infrastructure.
2.Phase I - 2005-09 and Phase II - 2009-12.
3.Under Ministry of Rural Development
4.Bharat Nirman comprises of six components:
a)Water Supply-- Cover approximately 55 thousand uncovered habitations and provide safe drinking water to approximately 2.16 lakh villages affected by poor water quality
b)Housing-- Provide additional 1.2 crore houses at the rate of 24 lakh houses each year to be built by funds allocated to the homeless through Panchayats
c)Telecommunication and Information Technology -- Increase rural tele-density to 40% and provide broadband connectivity and Bharat Nirman Seva Kendras to all 2.5 lakh Panchayats
d)Roads-- Provide road connections to remaining 23,000 villages approximately with population of 1000 or 500 in case of hilly or tribal areas
e)Electrification-- Provide electricity to remaining 40,000 villages approximately and connections to about 1.75 crore poor households
f)Irrigation -- 6.5 million hectares brought under assured irrigation till 2009. Remaining 3.5 lakh hectares to be completed by 2012
Pradhan Mantri Gram Sadak Yojana (PMGSY), Rajiv Gandhi Vidyutikaran Yojana(RGVY) & Indira Awas Yojana (IWY) come under Bharat Nirman.
·Pradhan Mantri Adarsh Gram Yojana(PMAGY):
1.Launched in the Union Budget 2009-10 by the Union Government for developing those 44,000 villages which have ST population more than 50%. But on a trial basis it is started in only 1,000 villages.
2.If the pilot scheme is successful the scheme will be expanded to remaining villages.
·National Rural Health Mission (NRHM):
1.Launched in 2005 till 2012.
2.Under ministry of health and family welfare.
3.The NRHM covers the entire country, with special focus on 18 States.
·Accredited Social Health Activist (ASHA):
1.‘ASHA’ or Accredited Social Health Activist is a trained female person appointed on 1000 population to provide basic health facilities under National Rural Health Activist.
2.ASHA must primarily be a 8th class pass woman resident of the village – married/ widowed/ divorced, preferably in the age group of 25 to 45 years.
·National Rural Employment Guarantee Act (NREGA):
1.Act came in 2005 and was launched on February 2, 2006 from Anantapur in Andhra Pradesh.
2.Under Ministry of rural development
3.The scheme provides a legal guarantee for 100 days of employment in every financial year to adult members of any rural household willing to do public work-related unskilled manual work at the statutory minimum wage of Rs.100 per (Budget – 2009-10).
4.Around one-third work force must be women.
5.It has been renamed as Mahatma Gandhi Rural Employment Guarantee Act (MGNREGA) on 2nd October, 2009.
6.From 1 January 2011 Wages has been linked with Consumer Price Index – Agriculture Labour (CPI-AL).
·Sarva Siksha Abhiyan(SSA):
1.Launched in 2001.
2.Under Ministry of Human Resource Development.
3.For providing 8th class education to all student who comes in 6 to 14 age group by 2010.
·Rashtriya Madhyamik Shiksha Abhiyan(RMSA):
1.Under Ministry of Human Resource Development (MHRD)
2.Announced in 2007 and it is proposed to implement during 11th Five Year plan. In Jan 2009 CCEA (Cabinet Committee on Economic Affairs) approved the implementation
3.Rs.20, 120 crore has been allocated for the Scheme during the 11th Five Year Plan.
4.The goal of RMSA is to make secondary education to all young students in the age group 15-16 years (classes IX and X). The major target of the scheme is (a) Universal access of Secondary level education to all students in the age group 15-16 years by 2015 by providing a secondary school within 5 kilometers of any habitation and a higher secondary school within 7 kilometer of any habitation and (b) Universal retention by 2020.
·Swarna Jayanti Gram Swarozgar Yojana (SGSY):
1.Launched as an integrated programme for self-employment of the rural poor with effect from 1 April 1999.
2.Under Ministry of Rural Development.
3.IRDP, TRYSEM, DWCRA, SITRA and GKY are merged in SGSY.
4.Implemented with help of Self- Help Group (SHG). A SHG may generally consist of 10-20 persons.
5.It is financed on 75:25 cost-sharing basis between the Centre and the states
6.In Union Budget 2009-10, The Swarna Jayanti Gram Swarozgar Yojana (SGSY) restructured as National Rural Livelihood Mission to make it universal in application, focused in approach and time bound for poverty eradication by 2014-15.
·Rashtriya Swasthya Bima Yojana (RSBY):
1.Launched in 2007.
2.Under Ministry of Labour and Employment.
3.Objective is to provide insurance cover to BPL households of unorganized sector from major health shocks that involve hospitalization.
4.In the Union Budget 2009-10, It is proposed that All BPL families to be covered under this scheme.
·Rajiv Awas Yojana:
1.It is a new scheme announced in the Union Budget 2009-10 for making slum-free India in five years.
2.Under Ministry of Housing & Urban Poverty Alleviation.
3.Rajiv Awas Yojana comes under JNNURM on the lines of Indira Awas Yojana for rural poor.
·Jawaharlal Nehru National Urban Renewal Mission(JNNUM):
1.Launched on 2005
2.Under Ministry of Urban Development.
3.For development of 63 identified cities.
4.National Steering Group chaired by urban development minister
5.It comprises two Sub-Missions:
a)Urban Infrastructure and Governance (UIG)
b)Basic Services to the Urban Poor Urban (BSUP)
·Swarna Jayanti Shahari Rozgar Yojana (SJSRY):
1.Launched in 1997.
2.Under Ministry of Urban Affairs and Employment.
3.It is a unified Centrally Sponsored Scheme specially for Urban Poor after merging Nehru Rojgar Yojana (NRY), Prime Minister's Integrated Urban Poverty Eradication Programme (PMIUPEP) and Urban Basic Services for the Poor (UBSP).
4.Funding pattern of Centre and State in 75:25 Basis.
·Rashtriya Krishi Vikas Yojana:
1.Under Ministry of Agriculture
2.Launched by Govt. of India during 2007-08 to incentives states to draw up plans for their agriculture sector.
3.The fund has been provided to the State as 100% Grant.
4.The RKVY aims at achieving 4% annual growth in the agriculture sector during the XI Plan period.
·National Social Assistance Programme:
1.The programme was launched with effect from 15th August 1985.
2.Centrally Sponsored Programme under which 100 percent Central assistance is made available to the State/UT.
3.Under Ministry of Rural Development but now NSAP is transferred to the State Plan along with the Annapurna Scheme from 2002-03.
4.Under this programme three sub-schemes are under implementation. They are.
a)National Old Age Pension scheme (NOAP)
b)National Family Benefit Scheme (NEBS)
c)National Maternity Benefit Scheme (NMBS)
·National Old Age pension (NOAP):
1.Old person above 65 Years. Physically Handicapped persons and Leprosy destitute (Irrespective of Age) who comes under Below Poverty line.
2.The National Old Age Pension Scheme has been renamed as Indira Gandhi National Old Age Pension Scheme (IGNOPS) and formally launched on 19th November, 2007.
3.The central contribution of pension under the Indira Gandhi National Old Age Pension Scheme (IGNOAPS) is Rs. 200/- per month per beneficiary and the State Governments may contribute over and above to this amount. At present old age beneficiaries are getting anywhere between Rs. 200/- to Rs. 1000/- depending on the State Contribution.
·National Family Benefit Scheme (NFBS)
1.Under this scheme, in the death of primary breadwinner (Age 18-65 years), the head of household is untitled to get the benefit of Rs.10000/- in case normal deaths.
·Annapurna Scheme
1.Launched on1st April, 2000.
2.For providing food security to those Senior Citizens (above 65 years) who though eligible have remained uncovered under the National Old Age Pension Scheme (NOAPS).
3.Under the Annapurna Scheme, 10 Kg. of food grains per month are to be provided 'free of cost' to the Beneficiary.
4.From 2002-03, it has been transferred to State Plan along with the National Social Assistance Programme comprising the National Old Age Pension Scheme and the National Family Benefit Scheme.
·National Maternity Benefit Scheme (NMBS):-
1.Under the scheme, lump sum cash assistance of Rs. 500/- per pregnancy was provided as a maternity benefit to women (Minimum age 19 years) of BPL households up to 2 live births.
2.Two new schemes have been introduced in the Interim Budget 2009-10:
a.'Indira Gandhi National Widow Pension Scheme' to provide pension of Rs.200 to widows between age groups of 40-64 years and
b.'Indira Gandhi National Disability Pension Scheme' to provide pension for severely disabled persons.
·Aam Admi Bima Yojna (AABY):
1.Launched in 2nd October 2007.
2.It is an Insurance Scheme which covers the death and permanent disability for the benefit of rural landless households between the age group of 18 to 59 years.
3.Implemented through the LIC of India and inter alias.
·Antyodaya Anna yojana
1.25th December,2000
2.BPL families in Rural Area and urban area
3.Food grains 25 Kg per family per month @ Rs.2/- per Kg for wheat and Rs. 3/- per Kg for rice. This quantity has been enhanced from 25 kg to 35 kg from 1 April 2002.
4.Under the expanded Antyodaya Anna Yojna, exclusive AAY cards are also issued to the Senior Citizens who have no regular means of subsistence or societal support, widows and families headed by widows, terminally ill and physically handicapped even if they are not in possession of any APL or BPL card.
·Sampoorna Grameen Rozgar Yojana
1.Launched in 2001 by merging the on-going schemes of EAS and the JGSY
2.Objective of providing additional wage employment and food security, alongside creation of durable community assets in rural areas.
3.The programme is self-targeting in nature with special emphasis on women, scheduled castes and scheduled tribes.
·Training of Rural Youth for Self-Employment (TRYSEM)
1.Initiated in 1979.
2.It is a component of IRDP, aims to providing basic technical and entrepreneurial skills to the rural poor in the age group of 18 to 35 years to enable them to take up income generating activities.
3.The scheme had been merged into Swarnajayanti Gram Swarojgar Yojana (SGSY) in 1999.
·Integrated Rural Development Programme (IRDP)
1.Launched in 1978 and extended throughout India by 1980
2.It is a self-employment program intended to raise the income-generation capacity of target groups among the poor in rural areas. Assistance is provided in the form of subsidy and bank credit.
3.Scheme is merged with another Scheme named swarnjayanti gram swarozgar yojana (SGSY) since 01.04.1999.
2.Centrally sponsored scheme aimed at reducing maternal and infant mortality rates and increasing institutional deliveries in below poverty line (BPL) families above 19 years of age and up to two live births.
1.Provision for the payment of Rs. 500 per pregnancy to women belonging to poor households for pre-natal and post-natal maternity care upto first two live births.
·Mahila Samridhi Yojna
1.Started on 2 October 1993.
2.Under this plan, the rural women of 18 years of above age can open their saving account in the rural post office of their own area with a minimum Rs. 4 or its multiplier
·National Food Security Mission (NFSM)
1.Lunched in 2007.
2.Centrally sponsored scheme
3.Objectives of this scheme is to increase production of wheat, rice and pulses through area expansion and productivity enhancement.
·Saakshar Bharat
1.Launched on 8 September 2009
2.It aims to recast India's National Literacy Mission to focus on literacy of women, which is expected to increase the literate population by 70 million adults, including 60 million women.
·National Livelihood Mission
1.Started in 2009-10
2.To make the Swarnajayanti Gram Swarozgar Yojna more effective government has decided to restructure the scheme under a new name National Livelihood Mission.
3.To provide self-employment in the rural areas by bringing each household below the poverty line under the net of self-help group (SHG).
·Rajiv Gandhi Grameen Vidyutikaran Yojana(RGGVY)
1.Launched in 2005
2.Objective of providing access to electricity to all households and improving rural electricity infrastructure in entire country.
·Rajiv Gandhi National Drinking Water Mission
1.Launched in 1986. It was also called the National Drinking Water Mission (NDWM). The NDWM was renamed Rajiv Gandhi National Drinking Water mission (RGNDWM) in 1991.
2.The main aim of the scheme is to provide drinking water to the non covered/ partially covered habitations
·Integrated Child Development Services (ICDS) Scheme
1.Launched on 2nd October 1975
2.To improve the nutritional and health status of children in the age-group 0-6 years.
