Capital and Currency

HUNGARY

Capital : Budapest

Currency : Hungarian Forint

President : Janos Ader

Prime Minister : Viktor Orban

Language : Hungarian

Daily GK - 6/2/15

1) Award to TMB

• TMB MD and CEO Upandra Kamath received FE India's best private sector bank award 2012-2013 for old private sector banks from Mos for Finance Shri. Jayanth Sinha.

2) New Home secretary takes charge

• New Home secretary - L.C.Goyal

3) Sirisena on a visit to India 

• Ministry of External Affairs said Sri Lankan President Maithripa Sirisena will reach India on a 4 day visit starting February 15 expected to boost ties 

4) Srinjoy Quits

• Rajaya Shaba MP of Trinamool Congress Quits.
• He was acquiesced in Multi-Crore Sarada Chit Fund scam.

5) Sustainable Development summit 2015

• Held in New Delhi
• Railway minister Suresh Prabhu, Mos for environment Prakesh Javedekar with R20 region of climate action Arnold Schwarzenegger were important personals of the summit.

6) HAL to make for IAF

• Hindustan Aeronautics Ltd signed Rs 1090 Crore contract.
• it is going to supply 14 Dornier-228 Aircraft to IAF.

7) EY Entrepreneur Award 2014

• Dr.Cyrus S. Poonawalla, CMD of Serum Institute of India named as the EY Entrepreneur Award 2014.   

8) Pragyan Ohja Cleared to bowl in Country cricket.

• Ojha suspected for illegal action has been cleared to bowl in Ranji Trophy.

Country Capital Currency

SERBIA

Capital : Belgrade

Currency : Serbian Dinar

President : Aleksander Vucic

Prime Minister : Tomislav Nikolic

Language : Serbian

RBI & Monetary Policy

      Monetary policy refers to the use of instruments under the control of the Central bank there fore RBI to regulate the availability, cost and use of money and credit
     
Objective:

• Maintain price stability
• Ensuring adequate flow of credit  to the productive sector of the economy to support economic growth
• Financial stability

There are mainly two types of instruments used in formation and implementation of monetary policy

1. Direct Instrument
2. Indirect Instrument

Direct Instruments:

Cash Reserve Ratio (CRR):

           The share of net demand and time liabilities that banks has to maintain with the RBI in the form of cash.

• Presently at 4%

Statutory Liquidity Ratio (SLR):

           The  share of net demand and time liabilities that banks must maintain in safe and liquid assets, such as Government Securities, Gold and Cash.

• Presently at 21.5%

Indirect Instruments : 

Liquidity Adjustment Facility (LAF) : 

             Consists of daily infusion or absorption of liquidity on a repurchase basis, through Repo (Liquidity Injection) and Reverse Repo (Liquidity Absorption) operation auction operations, using government securities as collateral. 

Repo Rate : 

          The rate at which RBI lends money to banks for Short Term.

• Presently at 7.75%

Reverse Repo : 

           The rate at which Banks lend money to RBI.

• Presently at 6.75%

Open Market Operation (OMO) : 

             Process of buying and selling of government securities in Open Market. it is a tool to determine the level of liquidity over the medium term.

Market Stabilization Scheme (MSS) : 

             It is process by which RBI and Central Government mutually understanding to issue bonds for stability in market through debt instruments via T-Bill, Gilt edge securities etc.

Bank Rate : 

           The rate at which RBI Lends money to Banks for Long Term

• Presently at 8.85%

Daily GK 5/2/2015

1) Anil Goswami dismissed as Home secretary.

• Union Home secretary Anil Goswami was given dismissal order overnight
• He was dismissed for alleged in trying to stop the arrest of Sarada scam accused formed minister Matang Sinh.
• decision taken after the meeting of PM Narandra Modi and Home minister Rajnath singh.

2) Award to port

•  V.O.Chidambaranar port trust, Tuticorin has bagged the Gold Award for 2014 for outstanding achievement in Environmental Management.

3) World Cancer Day Observed around the world on 4th February.

• Theme : Not Beyond As

4) CBI Joint Directors Transferred 

• Prabodh Kumar Transferred to Banking Service and Fraud Unit
• R.P.Agrawal to Investigation of several Anti-corruption cases
• Anurag Garg was given 2G Spectrum Investigation
• Ashok Tiwari transferred to Probing the conspiracy angle of assassination of Former PM Rajiv Gandhi

5) Taiwan Flight into Keelung river 

• TransAsia ATR 72-600 crashed into Keelung river at New Taipei City
• 25 People Killed in the crash out of 58 passengers.

Capital & Currency of Taiwan

6) Sri lanka celebrates 67th Independence Day on 4th February.

Capital & Currency of Sri Lanka

7) JK Group Chairman Gaur Hari Singhania passed away

8) Reliance Industries Ltd raised $750 Million via Overseas Bonds

9) Bank of Maharashtra Launches MahaMobile

• BOM launches its Mobile banking Application MahaMobile.

10) Exim Bank raised in overseas bond market

• Exim Bank had raised $500 million by selling unsecured notes to Overseas Investors.