Latest Current Affairs

Wimbledon 2011 Men--Winner Djokovic Runner up Nadal
IGMS - Integrated Grievance Management System
SAARC Chief - Fathimath Bhiyana Saeed

Disinvestment in Public Sector is called Privatisation
NDT - Net Direct Tax
Civil Aviation Secretary - Nasim Zaidi
Environment Day june 5

New Central Vigilance Commissioner - Pradeep Kumar
Abrar Hussain - Olympic boxer died recently

IMPS - Interbank Mobile Payment Service
FIEO(Federation Indian Export Organisation) chairman - Ramu S Deora
11 th EU Summit – Brussels

Wimbledon 2011
Winner : Kvitova
Runner up : Maria Sharapova
Global Vision 2010 award : Ratan tata
Kyoto Protocol will expire in 2014

Revenue Secretary - R S Gujral
International Criminal Court - The Hague
PAC - Public Accounts Committee

Christine Lagarde is new IMF chief ( French Finance Minister) she will be d first women to lead IMF succeeding Dominique strauss- kahn

UDRS - Umpire Decision Review System
Foreign secretary - Rajan Mathai
New Zealand PM - John Key

Union home secretary - Raj Kumar Singh
FCRA - Forward contract Regulation Act

Categories of Core sector

- Electricity - Weightage - 10.2%(Highest) - Crude Oil,- Petroleum Refinery,- Coal,- Cement,- Finished Steel

Prithvi - Short Range Ballistic Missile (SRBM)

Golden Peacock Environment Management award - Nokia
Highest HIV prevalence found in india - Manipur
Shivraj Patil Committee for 2g spectrum

CII Director General - Chandrajit Benarjee
Flood Inflation - 9.01%
 Al Qaida Chief - Al Jawahari

Currency
Kuwait – Dinar   Iran – Rial,South Africa – Rand,Manymar – Kyat,UAE – Dirham,Bangladesh - Taka
Swedan – Kronar,Nepal – Rupee

NIC(National Innovation Council) Head - Sam Pitroda
PURA - Providing Urban Amenties in Rural Areas

bsnl CHIEF -- RAKESH SHARMA
Air Chief Marshal - P V Naik 
Chairman & Managing Director, MTNL - Kuldip Singh

India sign "labour mobility partnership" mou with- denmark
DTAA - double taxation avoidance agreement
Inflation surges to 9.06% in May

NRI day - jan 9
World economic forum - davos
Act to deal with bad debt or unrecovered loan - SARFAESI act

Doordarshan director - Sailaja Suman
PETA award - Pamela Anderson
IBN Indian life time award - MS Swaminathan

Patratu Thermal Power Station - Jharkhand
CCEA - Cabinet Committee On Economic Affairs
Largest Producer Of Tea – China

Half A Life Book - V S Naipaul
BRICS next summit - Delhi
Montek Singh Ahluwalia - deputy chairman of Planning Commission

Central Bank Of USA - Federal Reserve
 City bank CEO - Vikram Pandit
LIC distributes AADHAR cards
SME-Small Medium Enterprises

Paul Umrigar Award - Sachin
Allen Boarder Medal - Shane Watson

WHO head - Margaret Chan
first Indian Wonan to get the Sena Gallantary Medal - Mitali Madhumita

 NLC got Navaratna Status
 MTNL chairman - Kuldip Singh
 Chief Economic Advisor - Koushik Basu

Infosys Chairman - K V Kamat
Pm of Syria - Adel Safar
Asian Billiards Title - Alok Kumar

Pipavav port – Gujarat

Chairman of PMEAC - C.Rangarajan
ADB conference - Hanoi
next national games – kerala

Posco project - Odisha
Nasscom chariman - Rajendra S. Pawar
Man Booker prize -Philip Roth

Chief Information Commissioner
satynanda mishra
first islamic bank of India – kerala

1 st bio culture park - orissa
kalinga award given by UNESCO

Finance Secretary - Sunil Mitra
CBDT chairman - Prakash Chandra

58th National Film Awards
Best film: 'Adaminte Makan Abu' (Malayalam)
Best Director and Screenplay : Vetrimaran, 'Aadukalam' (Tamil)

Best Actor: Dhanush (Aadukalam - Tamil) and Salim Kumar (Adaminte Makan Abu - Malaylam)
Best Music: Vishal Bhardwaj (Ishqiya)

Best Actress: Mitalee Jagtaap (Baboo Band Baaja - Marathi) and Saranya (Thenmerku Paruvakatru - Tamil)
Best Wholesome Entertainer: 'Dabangg'

Sebi chariman - Uk Sinha
 Belarus president - Lukashenko
 Brazil president - Dilma Rouseff
 ULIP - unit linked insurance plan

 A bend in river - V.S.Naipal
 Govt bank - IDBI
 Micro finance related to – NABARD

All England Badminton championship winner is Lee Chong Wie 
runner up Lindan

Argentina currency PESO
India is the largest producer of tea
Nepal pm JhalaNATH khanal

Mozambique Prime Minister Aires Bonifacio Baptista Ali visited India
Dec 11 UNICEF Day 
Oct 14 World Standards Day

Bharatanatyam exponent Leela Samson appointed as censor board chief 
Lalit Bhasin has been appointed Chairperson of the Film Certification Appell

Himanshu Kapania ,New CEO of Idea cellular
India 3rd largest mobile telecom firm sees its Portfolio of 7500 Towers as potencial value unlocking

Sep 16 World Ozone Day
Oct 8 Indian Air force Day
Dec 4 Navy Day
Dec 24 National Consumer Day
April 23 World Books Day
Jan 10 World Hindi Day

foreign secratary of Pakistan
Salman Bashir 
resident of Uganda
Youveri Museveni
Taramati won Gold at Golf Championship

National civil Service day
April 1
Duleep Trophy won by
South Zone
No 1 Golfer in Europe
Martin Kaymer
T. T. Ashok to head CII Southern Regi

ABB wins $900-m order from PGCIL
Google launches online magazine, Think Quarterly
LS passes bill to provide IIT status to 8 institutes, BHU

India 16th most risky place to invest
India's largest public offering of 15200 cr is by COAL INDIA.
ppp--public private partnership

Mahindra Satyam gets a multi-million dollar contract from Aspire Zone,Qatar
Mukesh Ambani has joined as Director in Bank of America Board

Casey Stoner wins Qatar MotoGP
Djokovic wins Indian Wells title
Sania-Vesnina pair won doubles title in Indian Wells
Alok Tomar , senior Journa

QIB-qualified institutional buyer
ongc finds shale gas in Bengal
Feb 24 Central Excise Day 
Jul 11 World Population Day

CRR maximum and minimum limit is - 50 % and 3 %
Highest HIV prevalence found in Manipur 
Director CBI - A.P Singh

International year of forest -2011
Sikkim has been the first nirmal State achived full sanitation coverage
BPO: Business Process Outsourcing

first fully literate dist. outside kerala is Burdwan in wB
Andhra ranks 1 st in egg prod
Entry load is related to Mutual Fund

Minimum wages rate is higher in Delhi (Rs. 203/day) and minimum at Andra (Rs. 68.96/day)
3-G action fetched Rs. 3350.113 Cr/Mhz

Coal india Ltd planned to buy 'The Kraal' - house of Gandhi at johnnesberg
india Ranks second in Manufacturing competitive index

fuel tanker 'INS Deepak 'joined navy.
s.ramadorai appointed pm's advises on skill development
UP assembly passes janhit guarantee bill

china becomes world leader in wind power capacity
department of posts ties up with uidai
india's longest bridge completed in kerala

"hunger free India" written by m.s swaminathan
former kerla chief minister passed away - k karunakaran

"growth and finance" is written by c. rangrajan
bric- now brics .south Africa is member.
russia is the largest defence trade partner of India

KUNO PALPUR WILDLIFE SANCTUARY IN MADHYA PRADESH IDENTIFIED AS HOME FOR GIR LIONS

Foreign Contribution (Regulation) Act (FCRA) starts in 1976.
Bangalore will host World Sanskrit Book Fair-2011 in jan i.e first time in 300 years

The Central government has decided to set up a wagon manufacturing factory at Kazipet (W.B.)
MBT--Main Battle Tank
LCA--Light Combat Aircraft

Bobby Jindal, Indian-origin Governor of Louisiana, is the most popular serving governor in the United States, according to an opinion poll

MNREGA wage is now linked with--Inflation
Basel 2 norms--Risk Management
MUFTI MOHAMMAD SAIM-p

SEBI can penalise what type of company in INDIA?
Investment Companies
author of the book Goodbye Shahzadi
Shyam Bhatia
Tiger Woods golf

patratu thermal—Jharkhand

BHUTIA.related to – FOOTBALL

parupalli kashyap-badminton

N. KARTIKEYAN--F-1

Malaysian Deputy Prime Minister Muhyiddin Yassin is on a five-day official visit to India from March 8 to12
join your friends

France is the first country to support NLC (anti-gaddafi group)

China looking to abolish one-child policy
ORISSA FOR 50% QUOTA FOR WOMAN
chairman of NABARD --Rakesh Singh
Vice President of FICCI - R V Kanori & Ms. Naina Lal Kidwai

former Nepal Prime Minister and founding member of the Nepali Congress, Krishna Prasad Bhattarai passed away
LIDA--Leader in the Digital Age

Foreign Minister of Thailand Kasit Piromya Visited Ind
Currency of Oman is Rial
PSLV-C16 launched on Apr 10 
Thailand pm Abhisit Vejjajiva

Over 14 crore eligible for voting in upcoming poll
Nirmal Chandra Jha assumes charge as CIL Chairman
MAT was introduced in 1987

Sports Minister Ajay Maken unveiled a programme named 'Operation Excellence London 2012' to prepare Indian athletes for next year's Olympic Games

Vikram Seth : A Suitable Boy, The Golden Gate
Salman Rushdie: Midnight's Children

"Wind Power India 2011" from April 7 to 9 at the Chennai Trade Centre
US Freezes Libya Assets Worth $30 B
CEO of Citigroup -Vikram Pandit

India-ASEAN Business Fair" began in DELHI
shakira awarded artist of the year by harvard university
35 th national games held in kerala

Some Questions

Karan Thapar gets Asian Television Award.

Gautam Ghosh film “Moner Manush” bagged Golden Peacock Award.

Tata Steel bags MAKE (Most Admired Knowledge Enterprise) 2010 Award.

Golden Globe Award 2011 – The Social Network

Director CBI – A.P Singh

New Aviation Secretary – Nasim Zaidi

Chief Election Commissioner – SY Quaraishi

Director General of Civil Aviation – Bharat Bhusan

Head of RAW (Research and Analysis Wing) – SK Tripathi

New Chief Information Commissioner - Satyanand Misra

Howard Jacobson Won 2010 Man Booker prize for fiction “ Finkler Question”

Nitish Kumar chosen the CNN IBN Indian of the year 2010

MS Swaminathan received CNN IBN India if the year 2010 lifetime award

Surjit Patar received Saraswati Samman 2009 for his collection “Lafza da dargah”

CWG highest gold medal won by – Australia

BEFTA award is given for – Cinema

Dadasaheb Phalke 2009 Award – D. Ramanaidu

Times Magazine Person of the year 2010 – Mark Zukerberg

Rajiv Ghandhi Khel Ratan Award 2010 – Sania Nehwal

Indian production of the tea in the world stand – First

Highest HIV prevalence found in Manipur

Khadi and Village Commison – 2nd Plan

NABARD – 6th Plan

Headquarter of RBI – Mumbai

Saikai Datta of the outlook has been given the best RTI journalist Award for using the Right to Information Act to expose a Rs.2500 crore scam in the export of rice

Former judge of Supreme Court Justice Balkrishna Eradi died.

CRR maximum and minimum limit is - 50 % and 3 %

National Rural Development Institute is situated at – Hyderabad

GDP of India in second quarter – 8.9

Animal declared as National Heritage Animal by GOI – Elephant

Ban on Chinese milk product extended. It contains melamine, a deadly chemical substance for human body.

President of Brazil Lula da Silva honored with Indra Gandhi Prize for peace disarmament and development for 2010

The world tallest building in present is Burj Khalifa

ICC Cricketer of the year 2010 – Sachin Tendulkar
Maulana wahiduddin Khan gets Rajiv Gandhi National Sadbahana Award.

Indian University gets identity symbol – D.Udai Kumar selected from 3,000 entries. Ra in devnagri and R in roman.

Deputy chairman Planning Commission – Montek Singh Ahluwalia

Renowned socialist thinker and activist Surendra Mohan passed away in new delhi on 17thdec 10

Jananpith Award to Malayalam writer ONV Kurup for the year 2007 and Urdu witer Akhlaq Khan shahryar for the year 2008.

Russia has been awarded the host ship of 2018 World Cup Football while the Gulf Country Qatar has been declared the host of 2022 World Cup.

Former Test captain Anil Kumble elected as the President of the Karnataka State Cricket Association

India and Bangladesh finalize deals on the sharing of Teesta and Feni River water.

Ashok Chakra (Highest peace time gallantry award) conferred on Major Laishram Jyotin Singh

US backed $ 10 billion for gas pipeline from TAPI (Turkmensitan – Afghanistan – Pakistan – India) – A silk Route

Miss Earth 2010 – Nicole Faria

Miss World 2010 – Alexandria Mills

Miss Universe 2010 – Mexico Jimena

Susilo Bambang Yudhoyono is the chief guest of India’s 62nd Republic day. He is President of Indonesia

The most corrupt country according to the ranking of global corruption index, a Transparency International report - Somalia

Pandora Bits

• Book letters to my daughter-Barack Obama
• Tembhli(Maharashtra)-AAdhar started from here
• Saraswati samman –Sujit Pattar
• Dada sahib phalke award-D.Ramanaidu
• Book masque of Africa-V.S. Naipaul
• Global competitiveness rank india-51,Switzerland no. 1
• Swawlamban scheme-100 rs/month pension for unorganized sector
• Rwanda president-Paul Kagame
• Jharkhand cm-Arjun Munda
• Kerala CM-V.Achutanand
• Chief vigilance commissioner-P.J. Thomas
• Nepal president-Shusila koirala
• Miss universe-mexico’s Navarette
• December 1-AAIDS day
• Germany,India elected for UN security council,india after 1992
• India-scotland-signed educational MOUs
• India-S.korea-social security agreement
• 17^th asean summit-hanoi(Vietnam)
• CSC-convention on supplimentry compensation
• 5^th east asia summit-hanoi
• National green tribunal head-lokeshwar dutt
• Miss world-alexandria mills of usa
• Man booker prize-Howard Jacobson for Frinkler question
• Noble prize for literature-Vargas lallosa(feast of goat)
• Noble prize medicine-Robert Edward
• Indradhanush-india and uk airforce joint exercise
• Book conversation with myself-nelson Mandela
• ICC awards-sachin player of the year,sehwag test player of the year,ab devilliers one day player of the year
• Lal bahadur shastri award-aruna roy
• India –malaysia did road pact
• Highest suicide rate –Sikkim
• Lok pal bill passed-3 members
• Cambridge university is the best
• Wheat price set at 1120/quintal
• Rescue operation in chile
• CWG best athelete-tracia smith
• US huge arms deal with Saudi Arabia
• Elephant-heritage animal
• Global hunger index india at 67^th
• K.VIJAY KUMAR-CRPF head
• Gender gap rank india-112^th
• Sikh of the year-chandhiok
• Hu jintao is most powerful person of the world
• Andhra CM-kiran kumar reddy
• Hindu best fiction award-manu joseph
• Sable scheme(rajiv Gandhi)for 11-18 year old girls
• NATO in afganistan only till-2014
• Indira Gandhi is 9^th most powerful in the list of most powerful
• South asian winter games-dehradun
• Yeonpeong island-north and south korea fight
• Indira Gandhi peace prize-lula disilva
• Repo,reverse repo rates-6.50 and 5.50
• SLR 24%
• Human development report india at 119
• Dilma rouseff-brazil president
• San su kyi belongs to Myanmar
• Mike russel wins world billiards tittle
• 25 january is voters day(important)
• 15 january-army day
• 30 jan-martyrs day
• 5^th G-2o summit in seol
• Book decision points-george bush
• 11^th india –EU summit in Brussels
• Conference on climate change-cancun
• Athlete of the year-david rudhisha and blanka vlasic
• Highest HIV cases in Manipur
• Golden peacock award-movie moner manush
• WWW meet-hyderabad
• Football world cups-2014,2018,2022-brazil,Russia,quatar
• Davis cup winner-serbia
• Tamilnadu and railways volleyball champions in men and women category
• Hero Honda golf championship-rikard karlberg
• TAPI pipeline-turkmenistan,afganistan,india,Pakistan
• Miss earth-nicole faria of india
• National chess champion-parimarjan nebi
• Common wealth india-38g,27s,36 bronze medals,3^rd position
• ASIAD india-14g,17s,33b,6^th position
• PNB-2/3 stake in ISC dana bank kazakstan
• Durand cup winner-chirag united
• March 3-defence day,march 8 is women’s day,15^th is consumer rights day
• RAW chief-s.k. tripathy
• Book a journey-tony blair
• First DSC prize-H.M. Naqvi
• Central bank completed 100 years,sponsor bancon meet in Mumbai
• Tunisia president-ben ali
• Egypt president-hosni Mubarak
• Chief information commissioner-satyanand mishra
• National science congress-kattan kulathar in Chennai
• Filmfare awards-dabang best film,shahrukh and kajol best actor actress for my name is khan,unit roy and kareena best supporting actor and actress,manna day gets lifetime achievement
• Best footballers-lionel messi and marta(women)
• BRIC new member is south Africa
• IMPS-international mobile payment service
• Rajasthan wins ranji trophy after beatinf baroda
• Pt bheemsen joshi belongs to classical music
• Australlian open
• Kim clijsters beat li na
• Dajkovic beat andy murray
• Bryan brothers beat bhupati and paes
• Japan win asia cup football
• Chief guest of republic day was susilo bambang president indonasia
• Sri Krishna committee related to telangna issue
• CNN-IBN person of the year-nitish kumar CM bihar
• TIME magazine person of the year-Mark zukerberg(facebook)

Banking & Finance Terminology

Absolute Advantage:
Country 'A' has an absolute advantage over country 'B' if the output per unit of input of A is higher than that of B.

Accelerator Principle:
Accelerator Principle of a company is the growth in ouput of the company that would induce a continuation in net investment.

Ad Valorem Tax:
It is a tax based on the value of the property.

Aggregate Demand:
It is the total of all the demand in a country. It can also be expressed as
Total Exports of a country - Total imports of the country.

Aggregate Supply:
Total value of good and services produced in an economy + {Imports-Exports}

Asset:
Any item of monetary value like bank accounts, real estate property, stocks,..etc

Barter System:
Trade which doesnt involve the exchange of money

Balance sheet:

Statement of the financial position of a company on a particular date, showing the nature and amount of a company’s assets and liabilities on a particular date, usually the end of the accounting year. The assets include fixed assets, investment, current assets (which include Inventories, sundry debtors, cash and bank balances) and loans and advances. The liabilities include shareholders’ fund (equity capital plus reserves). Loan funds (secured and unsecured loans) and current liabilities and provisions. The assets and liabilities must balance.

Bretton-Woods:
It is a monetary system that existed from the year 1946-1973. In this monetary system the value of dollar was calculated using gold reserves and every other country held it's currency at an exchange rate with US dollars.

Budget Deficit:
Budget Deficit = Goverment Expenditure- Goverment Revenues.

Call Money Market:
It is the market in which the Dealers and brokers locate and borrow money to satisfy their investment needs.

Capital Gains Tax:
Tax paid for the profit made through the sale of an asset.

Cash Reserve Ratio{CRR}:
It is determined by the RBI and is the minimum reserves each bank must hold to customer deposits and notes..
Both CRR and Statutory Liquidity Ratio{SLR} are used to combat inflation. Higher CRR and SLR decrease the money supply thereby combating inflation.

Centrally planned economy:
An economic system where the production & pricing of goods and services are determined by the goverment

Classical Economics:
The theory emphasizes the fact that free market can regulate themselves. This theory was framed by Adam Smith, David Ricardo, Thomas Malthus and John Stuart Mill

Closed economy:
The economy is closed and doesnt have any contact with the rest of the world

Consumer Price Index:
It is the measure of the average price of consumer goods and services purchased by households. It is measured with 1982 as it's base year.


Countervailing Duties:
These are the duties that are imposed by a country on Foreign producers in order to neutralize the negative effects of other duties.

CRISIL or Credit Rating Information Services of India Limited:

Jointly sponsored by the UTI and the Industrial Credit and Investment Corporation of India (ICICI), CRISIL has been functioning since January 1988. It rates the safety and timely payment of interest on debt securities like debentures and fixed deposits of public and private sector companies. The rating, subjected to periodic review, is given in alphabetical symbols preceded by d for Debentures and F for Fixed Safety, an adequate safety, B inadequate safety, C high risk, D default.

Currency Appreciation:
Increase in the value of a currency over the other. It takes place when the market exchange rates change.

Current Account Deficit:
Current account deficit= Export-Import

Current GDP:
Current GDP is GDP expressed in the current prices of the period being measured

Customs Duty:
Duty levied on imports.

Deflation:
An economy is said to be in deflation when there is a fall in the prices of the commodities.

Direct Tax:
These are the taxes that are levied on us directly. Taxes on Corporate Income, Capital Gains tax, Personal Income tax and Fringe benefit tax fall under this category.

Dividends:
It is the portion of the profits made by a company that is paid to the share holders.

Exchange rate:
Also called as Foreign Exchange Rates or FOREX of a country specifies how much the country's currency is worth in terms of the other currency.

Fiscal Deficit:
Fiscal Deficit= Goverment Expenditure in the current fiscal year- Goverment Revenues in the fiscal year.

Fiscal Policy:
It is the use of goverment revenue to influence the country's economic situation.

Foreign Exchange:

The process of trading one currency for another. This takes place on the international exchange markets where trading sets the exchange rates of currencies. Foreign currency is required by individuals, business and governments to finance the purchase of goods and services and to make loans to other countries.

Foreign Direct Investment:
It is the investment made by a company in one country on building a factory in another country.

Foreign Institutional Investor:
Investor from a foreign country.

Free Trade:
In this type of trade there is no tariffs to the imported or exported goods between two countries.

Fringe Benefit:
These are the benefits that are offered to employees in addition to their salaries like lunch coupons, cars, free petrol etc.

GATT:
The General Agreement on Tariffs and Trade{GATT} was created in 1947 as a replacement to International Trade Organization (ITO). GATT was replaced by World Trade Organization in the year 1995.

GDP {Gross Domestic Product}:

Expenditure method:
GDP = consumption + gross investment + government spending + (exports - imports)
Note: GNP is similar to GDP except for the fact that GNP takes the country’s localities into account

Income method:
The formula for GDP measured using the income approach, called GDP(I), is:
GDP = Compensation of employees + Gross operating surplus + Gross mixed income + Taxes less subsidies on production and imports

GDP per capita:
GDP per capita is the contribution of every citizen of the country to the total GDP

Giffen goods:
These are the goods which people consume more as prices increase thereby violation law of demand. {Usually people purchase less as the prices increase}

Golden Handshake:

Compensation paid to an executive of a company on his displacement and especially on his retirement.

Government Securities {G-Secs}
These are issued by the RBI on behalf of the market borrowing programme. It includes State Government Securities, Central Government Securities and Treasury Bills.

Human development Index
Measurement based on GDP per capita, life expectancy and education

Inflation:
An economy is said to be in inflation when there is a rise in the price of the commodities.

Indirect Tax:
These are the taxes that we don't pay directly. It includes Excise Duty, Customs Duty, Service tax and Securities Transaction Tax.

Insurance Regulatory & Development Authority (IRDA):
It is based in Hyderabad and the Mission of IRDA as stated in the act is "to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto."

Insurance Regulatory and Development Authority Act in 1999
This act allowed private companies into the insurance sector. It also increased the cap on FDI in insurance sector to 26 percent.

International Labour Organization{ILO}
Was established in 1919 and is a specialized UN agency that deals with labour issues.

Internation Monetary Fund:
It is an organization of 186 countries that aims at stabilizing foreign exchange rates and assisting the reconstruction of the international payment system. It was established in 1944.

International Poverty Line:
It is the minimum money expressed in dollars that an individual needs to achieve an adequate standard of living. For some years this Internation Poverty Line has been roughly around one dollar a day.

Macro-economics:
As the word suggests, it deals with the economic behaviour and performance of an entire country.


Microcredit
It is the provision of credit, parsimony, and other financial services and products of very small amount to the poor in semi-urban, rural and urban areas. It is to enable them to raise their income levels and improve their living standards.

Micro-economics:
This deals with studying how firms and households make decisions to allocate resources in markets. Market analysis is the main concept of Microeconomics.

Monetary Policy:
The policy through which the RBI controls the supply, availability and cost of money {Interset rate} in order to attain economic goals.

Net Domestic Product:
NDP= GDP-depreciation of capital goods in that country.
All are measured using Purchasing Power Parity

Nominal GDP:
Nominal GDP growth is GDP growth in nominal prices (unadjusted for price changes).

Parallel economy:
Alternative term for black economy, shadow economy and underground economy.

Politically Exposed Persons PEPs
Politically Exposed Persons are individuals who are or have been entrusted with prominent public functions in a foreign country.

Purchasing power parity:
Using market exchange values to equalize their purchasing power.

Quasi Money:
Also called as Near Money. These are the assets that can be easily converted to money without no loss in value.

Real GDP:
Real GDP growth is GDP growth adjusted for price changes(using ppp).

Repo rate:
The rates at which banks borrow money from RBI.

Reverse repo rate:
The rates at which RBI borrows money from the Banks.

Securities:
It is an instrument that has a financial value. It can be classified as debt securites{Bank notes(currency), bonds} and equity securities{Stocks}.

Statutory Liquidity Ratio
It is determined by the RBI and is the minimum amount that a bank must hold in the form of gold, cash and government securities.

Subsidy:
It is the payment given to the producers and distributors in a particular sector to prevent the downfall of that sector. For example goverment providers subsidies to small scale industry owners in order to prevent the downfall of small scale industries in the country.

The Wealth of Nations:
It is the famous book written by Adam Smith {Renowned economist}

Treasury Bills:
These are short term borrowing instruments that are issued by RBI. They are issued at discount to face value and on attaining maturity the maturity value is paid to the holder. The minimum amount in treasury bills is 25,000 Rs and thereafter they are available in multiples of 25,000.

Wholesale price Index:
Wholesale price Index is used to measure the inflation in our country and is the price of a basket of wholesale goods with it's base year as 1993-94.

World Bank:
It is an international financial institution that was established in the year 1945. It provides loans to poor countries in order to reduce poverty.

World Trade Organization:
Was established in the year 1995 in order to supervise international capital trade. 

Yield:

The actual rate of return received or obtainable from an investment, generally as the annual income calculated as a percentage of the purchase price of the investment. The rate of return for a capital investment project which equates the net capital expenditure with the discounted value of futures net cash inflows. The output of a process.

Books & Authors

            Indian Authors & Books

Famous Indian Authors and Books
S.No.	Name of Author	Books/Novels	Award/Achievements
1.	Aravind Adiga	The White Tiger Between the Assassinations	Won Man Booker Prize 2008 for the Novel “The White Tiger”
2.	Arundhati Roy	The God of Small Things Listening To Grass Hoppers: Field Notes on Democracy	Won the Booker Prize in 1997 for her first novel “The God of Small Things”. Awarded Sydney Peace Prize in 2004
3.	Anita Desai	Village by the Sea The Peacock Voices of the City Fire on the Mountain Clear Light of Day In Custody Fasting Feasting	Awarded the Winifred Holtby Memorial Prize for “Fire on the Mountain”.  The “Village by the Sea” won the Guardian Children’s Fiction Award.
4.	Bankim Chandra Chatterjee	Anand Math Brishbikkha Kapalkundala Nandini Mrinalini Vishbriksha Chandrasekhar Rajani Rajsimha Devi Chaudhurani	Author of Vande Mataram, the national song of India.  Anand Math contained the song “Bande Mataram”, which was later adopted as National Song.
5.	Jhumpa Lahiri	The Namesake Interpreter Of Maladies Unaccustomed Earth	Winner of 2000 Pulitzer Prize for fiction for her book “Interpreter Of Maladies”. In February 2010, she was appointed a member of the President’s Committee on the Arts and Humanities,appointed by U.S. President Barack Obama
6.	Khushwant Singh	We, Indians Train to Pakistan Women and Men in My Life Bride for the Sahib and Other Stories Love, Truth and A Little Malice	Rajya Sabha member from 1980 to 1986  Padma Bhushan award in the year 1974 Padma Vibhushan in the year 2007
7.	Kiran Desai	The Inheritance of Loss Hullabaloo in the Guava Orchard The Loneliness of Sonia and Sunny	Won 2006 Man Booker Prize and 2006 National Book Critics Circle Fiction Award for “The Inheritance of Loss”
8.	Mulk Raj Anand	Bubble Coolie Prince Utouchable The Village Lost Child Morning Face Seven Summers Across the Black Waters The Sword and the Sickle The Private Life of an Indian Bridge’s Book of Beauty Confessions of a Lover	International Peace Prize from World Peace Council  Sahitya Akademi award Mulk Raj Anand was hailed as India’s Charles Dickens for first novel, “Untouchable”, (1935).
9.	R.K. Narayan	Malgudi Days The Guide The Dark Room The Bachelor of Arts The English Teacher The Financial Expert The Man-Eater of Malgudi The Vendor of Sweets The Grandmother’s Tale	Sahitya Akademi Award for The Guide in 1958  Padma Bhushan in 1964 Nominated to the Rajya Sabha in 1989
10.	Rabindranath Tagore  (well known as “Gurudev”)	Lipika Chitra Chandalika Court Dancer Crescent Moon Gitanjali Kabi Kahini Post Office	First Asian who won Nobel Prize for his collection of poems, Gitanjali, in 1913  Composer of India’ s national anthem “Jana Gana Mana” Composer of Bangladesh’s national anthem “Amar Shonar Bangla”
11.	Salman Rushdie	Shame East West Jaguar Smile Moor’s Last Sigh The Satanic Verses Midnight’s  Children Shalimar The Clown	Awarded the ‘Booker of Bookers’ prize in 1993 for his novel “Midnight’s Children”
12.	Shobha De  (often known as India’s Jackie Collins)	Sisters Spouse Snapshots Sultry Days Starry Nights Surviving Men Small betrayals Second Thoughts Socialite Evenings Selective Memory	working as a columnist and writes for a fortnight magazine “The Week”
13.	Premchand / Munshi Premchand  (Real Name: Dhanpat Rai Srivastava)	Idgah Kafan Gaban Godaan Nirmala Poos Ki Raat Udhar Ki Ghadi Soz-e-Watan Shatranj Ke Khiladi Bade Ghar Ki Beti Panch Parameshvar Namak Ka Daroga	Great contribution in highlighting the realistic issues of the day-communalism, corruption, zamindari, debt, poverty, colonialism etc.
14.	V.S. Naipaul  (Sir Vidiadhar Surajprasad Naipaul)	Beyond Belief Guerrillas Half a Life A Bend In the River Magic Seeds An Area Of Darkness A Way In the World A House For Mr Biswas Among the Believers The Mystic Masseur The Mimic Men The Loss Of El Dorado In a Free State The Middle Passage Finding the Center India – a Million Mutinies Now India – a Wounded Civilization	Won Nobel Prize in Literature in 2001  Won the Booker Prize in 1971 for the book “In a Free State”  and became the first person of Indian origin do so
15.	Vikram Seth	The Golden Gate A Suitable Boy Arion and The Dolphin An Equal Music From Heaven Lake: Travels Through Sinkiang and Tibet Two Lives	Won Thomas Cook Travel Book Award for “From Heaven Lake: Travels Through Sinkiang and Tibet”  Won the WH Smith Literary Award and the Commonwealth Writers Prize for his novel, A Suitable Boy.

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