James Murdoch quits News International

The News of the World phone-hacking scandal on Wednesday claimed its biggest scalp yet when James Murdoch, Rupert Murdoch’s heir apparent, dramatically resigned as executive chairman of News International, publisher of The Times, The Sunday Times and The Sun, amid fresh allegations that he attempted to cover-up the scandal.
More  details...

Liverpool won the Carling Cup defeating Cardiff City in the final

Are you a Chelsea fan???? Want to know about Chelsea gossips? Click here...

Rs. 1,224 crore to up godown capacity

The Union Government has formed a comprehensive project to increase the storage capacity
of warehouse in Kerala State during the 12th Five Year Plan as part of the food security policy
of the UPA Government. Minister of State for Food and Consumer Affairs K.V. Thomas said
the Food Corporation of India (FCI) and Central Warehousing Corporation (CWC) would
set up warehouses with a storage capacity of 14.5 lakh tonnes of food grain at a cost of Rs.
1,224.9 crore within five years

Italian Foreign Minister Mr. Guilio Terzi di Sant’ Agata’s India visit

India has invited the Italian industry to be a partner in the proposed National Manufacturing
and Investment Zones (NMIZ). Commerce, Industry and Textiles Minister, Mr. Anand
Sharma, who held the meeting with the visiting Italian Foreign Minister said the Joint
Working Group (JWG) should prepare their recommendation for the India-Italy Joint
Economic Commission (JEC) meeting in June.

International Labour Ministers meet from tomorrow

A three day conference of Labour Ministers from 32 countries on innovations in public
employment programme and sustainable inclusive growth will be held in New Delhi from
March 1. The three day conference is organized by Labour Ministry and International Labour
Organisation. It will use the MGNREGA as a case study for public policy.

Terms of the day

GBS – Gross Budgetary Support
UNFCCC – United Nations Framework Convention on Climate Change
GAC – Governmental Advisory Committee
CECA – Comprehensive Economic Cooperation Agreement
CAD – Current Account Deficit

Government approves 5% stake sale in ONGC, may fetch Rs 12,000 crore

A group of ministers on Tuesday approved the sale of 5% equity in state-owned Oil and Natural Gas Corporation (ONGC) through the auction method to institutional investors, a move which is expected to help raise more than Rs 12,000 crore for the cash-strapped government.The government in the Budget for 2011-12 had envisaged to raiseRs40,000 crore through PSU disinvestment, but in about 11 months it could mop up only Rs1,145 crore from stake sale in the Power Finance Corporation (PFC).

SBI - IBPS - Model question paper Clerk PO(Banking Industry and Finance Only ) - 1 (Sample question paper)

SBI - IBPS - Model question paper Clerk PO(Banking Industry and Finance Only ) - 1 (Sample question paper) :

This will be useful in SBI, IBPS clerical and probationary officer(PO) exams...
Practice these papers and do well in the exams... Good luck... Enjoy the exam...



1. Bank for Interntional settlements is situated at

1. Basel, Switzerland
2. New York, U.S.A
3. Luxemburg
4. London, England
5. Paris, France

2. 'Swabhiman' is a campaign launched for

1. Deposit mobilisation
2. Special loans for jawans
3. Financial inclusion
4. Enlarging tax net
5. None of these

3. During the 2011-12 annual budget, the finance minister has targeted covering 73000 new areas with population of _____ and above under banking services by March 2012.

1. 1000
2. 2000
3. 5000
4. 10000
5. 25000

4. The initial minimum capital required to set up new banks has been fixed at Rs. _____ crore.

1. 100
2. 200
3. 500
4. 1000
5. 5000

5. RBI has issued guidelines for issuance of fresh licence to banks. As per them, new banks can be set up only through a wholly owned Non-Operative Holding Company (NOHC). The NOHC will have to hold a minimum _______% of the paid up capital for five years.

1. 25
2. 40
3. 50
4. 100
5. 74

6. New entities that seek fresh banking licence have to open at least _____% of their branches in unbanked rural centers. (Populations up to 9999 as per 2001 census).

1. 10
2. 25
3. 40
4. 50
5. 75

7. Foreign investment (FDI + FII + NRI) for new banks has been capped at ______% for initial five years.

1. 25
2. 49
3. 51
4. 74
5. 76

8. In existing banks foreign share holding is permitted up to ____%.

1. 100
2. 74
3. 51
4. 49
5. 40

9. SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act enables financial institutions to

1. Recover bad loans
2. Improve financial inclusions
3. Assess market risks better
4. Open new branches and outlets
5. None of these

10. Ranjana Sadashiv Sonwane was the first person to get Aadhar Number in India. She is a tribal woman from Tembhali village in Nandurbar in

1. Madhya Pradesh
2. Assam
3. Rajasthan 
4. Bihar
5. Maharashtra

11. Aadhar is a ______digit unique number provided by Unique Identification Authority of India (UIDAI).

1. 10
2. 12
3. 14
4. 15
5. 20

12. UIDAI stores in a centralised database the folowing information of citizens except

1. Basic demographics
2. Photographs
3. Ten finger prints
4. Iris
5. DNA details

13. Who is the President of World Bank ?

1. Robert B Zoellick
2. Edward R Cook
3. King Keizer Mavric
4. Rupert Murdoch
5. Ms. Christine Lagarde

14. Who is the MD of IMF ?

1. Robert B Zoellick
2. Edward R Cook
3. King Keizer Mavric
4. Rupert Murdoch
5. Ms. Christine Lagarde

15. Who is the Deputy Chairman of Planning Commission ? 

1. Dr. Manmohan Singh
2. Pranab Mukerjee
3. Dr. Subbarao
4. Montek Singh Ahluwalia
5. None of these

16. The 12th Five Year Plan would begin in the year____.

1. 2011
2. 2012
3. 2013
4. 2014
5. 2015

17. Who owns State Bank of India now ?

1. It is wholly owned by Government of India
2. It is wholly owned by RBI
3. It is jointly owned by RBI and Government of India
4. Majority shares are with Government of India while the balance is owned by private people
5. None of these

18. Who is considered the 'Lender of Last Resort' in India ?

1. RBI
2. Government of India
3. Planning Commission   
4. Development Banks
5. None of these

19. Maximum amount per transaction using NEFT is limited to______.

1. Rs. 50000
2. Rs. 100000
3. Rs. 200000
4. Rs. 500000
5. No such limit

20. What is the minimum service charge per transaction for NEFT/RTGS ?

1. Rs. 6
2. Rs. 8
3. Rs. 10
4. Rs. 25
5. None of these

21. Banks allow 'no frill account' now. What is their peculiarity ?

1. Low minimum balance to be kept
2. No minimum balance requirements
3. No interest will be given to such accounts
4. KYC norms are not mandatory
5. None of these

22. Renminby is the official currency of______

1. Hong Kong
2. China
3. Thailand
4. Laos
5. Singapore

23. Which is the biggest financial institution in India ?

1. SBI
2. ICICI
3. LIC
4. GIC
5. UTI

24. India's first rural bank ATM card was issued by National Payments Corporation of India for the Kashi Gomti Samyut Gramin Bank. This card is named ________

1. Rupay Grmin Card
2. Kisan Card
3. Samyut Card
4. Kashi Gramin Card
5. None of these

25. The above mentioned card was launched in association with_____

1. SBI
2. Union Bank of India
3. Canara Bank
4. Bank of India
5. None of these

26. Which of the following is NOT a pubic sector bank functioning in India now ?

1. Andhra Bank
2. Bank of Maharashtra
3. United Bank of India
4. New Bank of India
5. Allahabad Bank

27. From which state was the Janani-Shishu Suraksha Karyakram (JSSK) of the Ministry of Health and Family Welfare launched recently ?

1. Kerala
2. Maharashtra
3. Haryana
4. Rajasthan
5. None of these

28. SCORES is a complains redressal system launched by ________

1. SEBI
2. IBA
3. CBDT
4. CCI
5. None of these

29. Direct Tax collections account for what share of GDP in India ?

1. 9.26 %
2. 7.62 %
3. 5.66 %
4. 4.72 %
5. None of these

30. The National Broadband Plan is aimed at rolling out broadband infrastructure to every village with more than _____ people.

1. 500
2. 1000
3. 1500
4. 2000
5. None of these

31. Which of the following have been disallowed from opening branches abroad by the RBI ?

1. Private sector banks
2. Pension funds
3. Cooperative banks
4. NBFCs
5. None of these

32. What is India's per capita income at current prices in 2010-11 ?

1. Rs. 41532
2. Rs. 45278
3. Rs. 49294
4. Rs. 54835
5. None 

33. What is the share of micro small and medium enterprises (MSMEs) in India's industrial production ?

1. 8.72 %
2. 16.18 %
3. 24.67 %
4. 44.86 %
5. None of these 

34. Goa became the first state in the country to launch cashless health insurance scheme "______ Arogya Bhima Yojana" for its entire population in September 2011.

1. Shatabdi
2. Rashtriya 
3. Nehru
4. Swarnajayanti
5. Sampoorna

35. Which of the following is a  private sector bank ?

1. Oriental Bank of Commerce
2. Karur Vysya Bank
3. Indian Bank 
4. Corporation Bank
5. All the above

36. With which of the following has India Post tied up to provide money transfer service to enable those working abroad to remit money to their dependents in India not having bank accounts.

1. Money Gram
2. Western Union 
3. Paypal
4. Master Card
5. Visa

37. What is the full form of DGFT ?

1. Development and Grouping of Foreign Trade
2. Demand and Grouping of Foreign Trade
3. Director General of Foreign Trade
4. All the above are correct under different contexts
5. None of these

38. The RBI capped bank investments in to liquid schemes to what per cent of the bank's net worth ?

1. 15 %
2. 10 %
3. 12 %
4. 13.2 %
5. None of these

39. Which of the following bodies in April 2011 modified the norms for appointment of its internal auditor ?

1. SEBI
2. PFRDA
3. IRDA
4. India Inc
5. None of these

40. NASSCOM Chairman ?

1. Rajendra Singh Pawar
2. Harsh Manglik
3. N. Chandrashekaran 
4. Ganesh Natarajan
5. None of these

View answer

SBI - IBPS - Model question paper Clerk PO(Banking Industry and Finance Only ) - 1 (Sample question paper) - Answers

SBI - IBPS - Model question paper Clerk PO(Banking Industry and Finance Only ) - 1 (Sample question paper) with ANSWER KEY:

This will be useful in SBI, IBPS clerical and probationary officer(PO) exams...
Practice these papers and do well in the exams... Good luck... Enjoy the exam...

1. Bank for Interntional settlements is situated at

1. Basel, Switzerland

2. 'Swabhiman' is a campaign launched fo

     3. Financial Inclusion

3. During the 2011-12 annual budget, the finance minister has targeted covering 73000 new areas with population of _____ and above under banking services by March 2012.

     2. 2000

4. The initial minimum capital required to set up new banks has been fixed at Rs. _____ crore.

     3. 500

5. RBI has issued guidelines for issuance of fresh licence to banks. As per them, new banks can be set up only through a wholly owned Non-Operative Holding Company (NOHC). The NOHC will have to hold a minimum _______% of the paid up capital for five years.

      2. 40

6. New entities that seek fresh banking licence have to open at least _____% of their branches in unbanked rural centers. (Populations up to 9999 as per 2001 census).

       2. 25

7. Foreign investment (FDI + FII + NRI) for new banks has been capped at ______% for initial five years.

       2. 49

8. In existing banks foreign share holding is permitted up to ____%.

      

       2. 74

9. SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act enables financial institutions to

1. Recover bad loans

10. Ranjana Sadashiv Sonwane was the first person to get Aadhar Number in India. She is a tribal woman from Tembhali village in Nandurbar in

      5. Maharashtra

11. Aadhar is a ______digit unique number provided by Unique Identification Authority of India (UIDAI)

       2. 12

12. UIDAI stores in a centralised database the folowing information of citizens except

       5. DNA Details

13. Who is the President of World Bank ?

1. Robert B Zoellick

14. Who is the MD of IMF ?

     5. Ms. Christine Lagarde

15. Who is the Deputy Chairman of Planning Commission ? 

     4.  Montek Singh Ahluwalia
16. The 12th Five Year Plan would begin in the year____.

     2.  2012

17. Who owns State Bank of India now ?

     4.  Majority shares are with Government of India while the balance is owned by private people

18. Who is considered the 'Lender of Last Resort' in India ?

1. RBI

19. Maximum amount per transaction using NEFT is limited to______.

     3.  Rs. 200000

20. What is the minimum service charge per transaction for NEFT/RTGS ?

1. Rs. 6

21. Banks allow 'no frill account' now. What is their peculiarity ?

     2.  No minimum balance requirements

22. Renminby is the official currency of______

     2.  China

23. Which is the biggest financial institution in India ?

     3.  LIC

24. India's first rural bank ATM card was issued by National Payments Corporation of India for the Kashi Gomti Samyut Gramin Bank. This card is named ________

1. Rupay Grmin Card

25. The above mentioned card was launched in association with_____

     2.   Union Bank of India

26. Which of the following is NOT a pubic sector bank functioning in India now ?

     4.   New Bank of India

27. From which state was the Janani-Shishu Suraksha Karyakram (JSSK) of the Ministry of Health and Family Welfare launched recently ?

     3.   Haryana

28. SCORES is a complains redressal system launched by ________

1. SEBI

29. Direct Tax collections account for what share of GDP in India ?

     3.   5.66 %

30. The National Broadband Plan is aimed at rolling out broadband infrastructure to every village with more than _____ people.

1. 500

31. Which of the following have been disallowed from opening branches abroad by the RBI ?

     4.   NBFCs

32. What is India's per capita income at current prices in 2010-11 ?

     4.   Rs. 54835

33. What is the share of micro small and medium enterprises (MSMEs) in India's industrial production ?

     4.   44.86 %

34. Goa became the first state in the country to launch cashless health insurance scheme "______ Arogya Bhima Yojana" for its entire population in September 2011.

     4.   Swarnajayanti

35. Which of the following is a  private sector bank ?

     2.   Karur Vysya Bank

36. With which of the following has India Post tied up to provide money transfer service to enable those working abroad to remit money to their dependents in India not having bank accounts.

1. Money Gram

37. What is the full form of DGFT ?

     3.  Director General of Foreign Trade

38. The RBI capped bank investments in to liquid schemes to what per cent of the bank's net worth ?

     2.  10 %

39. Which of the following bodies in April 2011 modified the norms for appointment of its internal auditor ?

1. SEBI

40. NASSCOM Chairman ?

1. Rajendra Singh Pawar

85th Annual Academy Awards (Oscar Awards)

• Best Picture: The Artist
• Best Director: Michel Hazanavicius - The Artist
• Best Actor: Jean Dujardin - The Artist
• Best Actress: Meryl Streep - The Iron Lady
• Best Supporting Actor: Christopher Plummer - Beginners
• Best Supporting Actress: Octavia Spencer - The Help
• Best Writing - Original Screenplay: Midnight in Paris - Woody Allen
• Best Writing - Adapted Screenplay: The Descendants - Alexander Payne, Nat Faxon, and Jim Rash
• Best Animated Feature: Rango
• Best Foreign Language Film: A Separation
• Best Documentary - Feature: Undefeated
• Best Documentary - Short Subject: Saving Face
• Best Live Action Short Film: The Shore
• Best Animated Short Film: The Fantastic Flying Books of Mr. Morris Lessmore
• Best Original Score: The Artist- Ludovic Bource
• Best Original Song: The Muppets - Man or Muppet by Bret McKenzie
• Best Sound Editing: Hugo - Philip Stockton and Eugene Gearty
• Best Sound Mixing: Hugo - Tom Fleischman and John Midgley
• Best Art Direction: Hugo - Dante Ferretti and Francesca Lo Schiavo
• Best Cinematography: Hugo - Robert Richardson
• Best Makeup: The Iron Lady - Mark Coulier and J. Roy Helland
• Best Costume Design: The Artist
• Best Film Editing: The Girl with the Dragon Tattoo - Angus Wall and Kirk Baxter
• Best Visual Effects: Hugo - Rob Legato, Joss Williams, Ben Grossmann and Alex Henning

Terms of the day

NCDEX – National Commodity and Derivatives Exchange
IRNSS – Indian Regional Navigational Satellite System
 The Indian Regional Navigational Satellite System (IRNSS) is an autonomous regional satellite navigation system being developed by the Indian Space Research Organisation which would be under total control of Indian government. The requirement of such a navigation system is driven by the fact that access to Global Navigation Satellite Systems, GPS, is not guaranteed in hostile situations. IRNSS is expected to be functional by 2014.
GLONASS - GLObal NAvigation Satellite System, is a radio-based satellite navigation system operated for the Russian government by the Russian Aerospace Defence Forces. It both complements and provides an alternative to the United States' Global Positioning System (GPS) and is currently the only alternative navigational system in operation with global coverage and of the same precision.
CoS - Committee of Secretaries
IFAD – International Fund for Agricultural Development
KYC – Know Your Customer
JNNURM – Jawaharlal Nehru National Urban Renewal Mission
CERN – European Organization for Nuclear Research (Lab located at Geneva)
FSI – Forest Survey of India
DAE – Department of Atomic Energy
NPCIL – Nuclear Power Corporation of India Limited
AERB – Atomic Energy Regulatory Board
MCX – Multi Commodity Exchange
MCX is the first exchange in the country to come out with an IPO (Initial Public Offering).

Over 2000 weather stations to come up in Maharashtra

The Maharashtra Government is planning to set up 2025 automatic weather stations across the state so that farmers can benefit from the information to decide on the cropping pattern and take preventive steps to protect the standing crops in case of adverse weather. The Rs. 1000 crore will get a viability gap funding from the centre.

Today's Who's Who

Director General of Civil Aviation – EK Bharath Bhushan

German Chancellor – Angela Merkel

French President – Nicolas Sarkozy

Attorney-General of India – Goolam Essaji Vahanvati

Solicitor-General of India – Rohinton Nariman

CBSE Chairman – Mr. Satish Kumar Goel

Rural Development Minister – Jairam Ramesh

FEC President -  Mr. Ken Matsuzawa

Coal India Ltd CMD – Ms Zohra Chatterjee

Fitch downgrades Greece

Fitch rating agency dual-headquartered in New York and London says it has downgraded Greece further into junk status, from 'CCC' to 'C'.

Terms of the day

AMC – Asset Management Company

IMD – India Meteorological Department

GMT – Greenwich Mean Time

LME – London Metal Exchange (world’s largest metal trading exchange)

NAV – Net Asset Value

CARE – Credit  Analysis and Research

ASCI – Advertising Standard Council of India

CBEC – Central Board of Excise and Customes.

GST – Goods Service Tax

FEC – (International) Friendship Exchange Council

Miscellaneous

Indirect tax collection target for 2011-12 – Rs. 3.93 lakh crore.

India’s per capita income - $1200

RBI to buy G-Secs (Government securities) worth Rs. 12000 crore through OMO (Open Market Operations) to ease the current liquidity crisis.

National Australia Bank opens first branch in India, in Mumbai.

Economic Advisory Council pegs 2012-13 growth rate at 7.5 to 8

The mining sector’s contribution to the country’s GDP is 1.2 % for the last several years.

Hero MotoCorp ties up with Eirk Buell Racing (US based) 

India committed to forging deeper relations with Japan

India is committed to forging deeper relations with Japan as part of its ‘Look East’ policy, which aims at closer integration with the East Asian region, the Minister of State for Planning, Science & Technology and Earth Science, Mr. Ashwani Kumar said during a meeting with a high level Japanese delegation at New Delhi.

Airlines allowed to directly import ATF

The Director General of Foreign Trade allowed individual domestic airlines to directly import aviation turbine fuel (ATF) by issuing a formal notification to this effect.

New MNREGA version aims to boost productivity

An operational guideline suggested for a radically improved version for MNREGA (Mahathma Gandhi Natonal Rural Employment Guarantee Act) call for “urgent measures” to convert the rural job scheme into a productivity-enhancing instrument, particularly in the agriculture sector. The Rural Development Minister, Mr. Jairam Ramesh who unveiled the new guideline prepared by a committee headed by the Planning Commission Member, Mr. Mihir Shah. The revised guideline for MNREGA 2.0 suggests the strengthening of the synergy between the job scheme and rural livelihoods especially agriculture and allied sectors, and respond to demands of the States for greater location flexibility in permissible works.

BSE launched BSE Green Index

The 20 share index is dominated by health care, finance sectors. It is expected to increase emission sensitive investing. This index is called BSE GREENEX.

Bring excise, service tax back to pre-crisis level: PM’s advisory panel

The prime Minister’s Economic Advisory Council (PMEAC) has advocated increasing excise duty and service tax to the pre-crisis level, even as it pitched for tougher action on subsidies. Expressing concern over the high fiscal deficit, which is expected to overshoot the target of 4.6 % of GDP this fiscal. Releasing the review of the economy for 2011-12, Dr. C. Rangarajan, Chairman, PMEAC, said: “The rate hike need not necessarily be done in one go, it could be done in phases”. 

19 % import duty likely on power equipment for mega projects

Power generation equipment for projects above 1000 MW may attract import duty at the rate of 19%. The Cabinet Committee on Economic Affairs (CCEA) is expected to take a call on the issue in next two weeks. If the proposal is approved, it will give domestic equipment manufacturers such as BHEL, L&T and Bharat Forge a major boost. At present, power generation equipment for projects below 1000 MW bears a duty of 5% while there is almost nil duty for equipments for projects above 1000 MW.

EPFO may fix minimum pension at Rs. 1000 per month

Retirement fund body EPFO (Employees’ Provident Fund of India) may take a final decision on fixing the minimum pension for its subscribers at Rs. 1000 per month, at a meeting of the Central Board of Trustees (CBT) scheduled on Feb. 22.

Golden Jubilee convocation of the IARI

The annual farm growth rate was expected to be 3.5 % in the 12^th plan period ending this year. Prime Minister who was awarded a honorary doctorate by the Indian Agricultural Research Institute(IARI) said 3.5 % per annum growth rate is commendable. But we must improve upon it to reach 4 % or even higher in the 12^th plan. For this our Government is committed to raising Research and Development spending as a whole to at least 2% of the GDP by the end of the 12^th plan from the current level of about 1%.

Financial Inclusion

Under the financial inclusion programme, PSBs are required to extend banking facilities to all habitations with a population of 2000 persons by end-March 2012. In all, about 73000 villages had been identified for coverage under this programme.

Capital support assured for public sector banks

The finance Minister MR. Pranab Mukherjee said that the Government is ready to infuse more capital in public sector banks (PSBs) to help them employ with the Basel III capital regulations, while envisage more stringent norms for capital adequacy. The Basel III capital regulations are to be implemented from January 1, 2013 and will be fully phased in by January 1, 2019.

Terms of the day

CII: Confederation of Indian Industry
PMEAC: Prime Minister's Economic Advisory Council
CVC: Central Vigilance Commission
NCTC: National Counter Terrorism Centre
DTC: Direct Taxes Code
IOC: International Olympic Council
CSO: Central Statistics Office
CPI: Consumer Price Index
IRDA: Insurance Regulatory and Development Authority
SAT – Securities Appellate Tribunal

IFRS – International Financial Reporting Standards

RCI – Research Centre Imarat ( a key laboratory of DRDO)

IARI – Indian Agricultural Research Institute

Today's who's who

Union Law Minister: Salman Khurshid
Union Telecom and HRD minister: Kapil Sipal
Union Railways minister: Dinesh Trivedi
Union Home minister: P Chidambaram
Odisha Chief Minister: Naveen Patnaik
IRDA Chairman: J Hari Narayan
Information Commissioner – Sushma Singh

National Security Advisor – Shiv Shankar Menon

RCI(Research Centre Imarat) Director – S.K Chaudhuri

No I-T returns for salary up to 5L

Salaried Employees earning up to Rs 5 lakh a year will not be required to file income tax returns from this year, the finance ministry has said.

Eurozone Seals 2nd Greek Bailout Worth €130 Billion

Euro zone finance ministers approved on Tuesday a second bailout for debt-laden Greece that will resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.

Coach factory at Palakkad

The Union Cabinet on Thursday approved the setting up of a new rail coach manufacturing unit at Palakkad in Kerala to manufacture 400 coaches annually at an estimated cost of Rs. 550 crore.

Pakistan may be allowed to invest in India

The Commerce Ministry has proposed to the Finance ministry to exempt Pakistan from the Foreign Exchange Management Act (FEMA) regulations. Once the go-ahead comes, foreign direct investment from Pakistan will be possible through the Foreign Investment Promotion Board (FIPB).

Terms of the day

NII- Net Interest Income

NPA- Non Performing Assets

BIFR- Board of Industrial and Financial Reconstruction

ICOR- Incremental Capital Output Ratio

CCEA- Cabinet Committee on Economic Affairs

LTI- Long Term Incentives

ICAI- Institute of Cost Accounts of India

CIBIL- Credit Information Bureau of India Limited

CPCB- Central Pollution Control Board

PPP- Public Private Partnership

Nasscom Global Leadership Awards

                               The National Association of Software and Services Companies (NASSCOM)

Nasscom Global Business Leader- Kumar Mangalam Birla, Chairman, Aditya Birla Group

Business Transformation Leader- Paul Coby, IT Director, John Lewis

Global CTO- Padmasree Warrior, Cisco

Innovative Leader Award- Darcy Antonellis, Warner Bros

Today's highlights

Delhi airport is global No 2 in number of passengers handled

The Indira Gandhi International Airport in Delhi has moved to the second spot in the global ranking of airports handling 25-40 million passengers annually. Incheon airport in Seoul, South Korea continues to hold the number one position. This was revealed in the 2011 survey done by the Airport Council International (ACI). ACI has 580 members operating 1650 airports in 179 countries.

Rate rise cycle at its peak: RBI

RBI Deputy Governor Dr Subir Gokarn said, inflation falling to a 26 month low of 6.55 % is in line with its expectations and strengthens the belief that the policy rate cycle is at its peak.


India has moved the World Trade Organisation’s (WTO) Dispute Settlement Body against Turkey over the latter’s safeguard measures on cotton yarn imports.

GoAir  inks $7.2 billion engine deal with Pratt & Whitney.

Apex bank of Sri Lanka- Central Bank of Sri Lanka

Some important recent happenings

Moody’s cuts ratings of six European countries


Britain, Austria and France could lose their AAA ratings, as rating agency Moody’s placed the countries on negative watch, while lowering the ratings of six other Euro Zone nations. Italy, Malta, Portugal, Slovakia, Slovenia all had their ratings cut by one notch, with a negative outlook, while that of Spain was cut by two notches to A3, with a negative outlook.

Dollar sales by RBI touch new high in December

The Reserve Bank of India sold $7.8 billion in the spot market in December 2011 to prop up the sliding rupee. Data from the RBI’s February bulletin show that this is the highest amount it has sold in three years.

SBI sets sights on absorbing State Bank of Mysore

After taking over two associated banks- State Bank of Saurashtra in2008 and State Bank of Indore in 2010, SBI has set its sights on assimilating the nearly century old State Bank of Mysore this year.

Air India loses sole right to fly overseas

Air India will effectively cease to be India’s ‘national carrier’, with the Government decision to do away with the state-owned airline’s right to fly abroad. This means private airlines such as Jet, Indigo, Kingfisher and SpiceJet will now face no problem in getting permission to fly abroad.

China’s largest mobile solutions and ad networks company Madhouse has entered the Indian market with the WPP group as strategic partner and investor in the company.