January-4

                                       

1.Justice Lodha panel submits report to SC for reforms in BCCI

• Justice R M Lodha panel, had recommended suspension of Chennai Super Kings and Rajasthan Royals due to their involvement 
• in illegal betting and spot-fixing, submitted its report by advocate Gopal Shankar Narayan to the Supreme Court registry.
•  It will be considered by the bench headed by Chief Justice T S Thakur.

2.“Jeevan Labh” initiated by LIC

Life Insurance Corporation of India (LIC) introduced a limited premium paying, non-linked with-profits Endowment Assurance plan “Jeevan Labh”.
What is Jeevan Labh plan?
Jeevan Labh is a limited premium paying endowment plan which means premium paying shall be less than the policy tenure
and policyholder’s nominee will receive the maturity benefit together with any other benefits at the end of the policy
term or on the death of the policy holder, whichever is earlier.

3.RBI imposes Rs 1 cr fine on State Bank of Travancore

RBI has imposed a penalty of Rs 1 crore on an SBI associate bank i.e. State Bank of Travancore violating some of its
instructions including report of data to Central Repository of Information on Large Credits (CRILC) which was set up by to
 collect, store, and disseminate data on all borrowers’ credit exposures.
?Banks are required to report all information including classification of an account as Special Mention Accounts( SMA),
on all borrowers having aggregate fund-based and non-fund-based exposure of Rs.5 crore and more than that.

Effect of penalty: Shares of State Bank of Travancore have fallen by 1.5% to quote at Rs.402 on the BSE after the RBI
slapped a penalty of Rs.1 crore on the bank for violation of some of its instructions.

Points to remember: State Bank of India
-Slogan: The Banker to Every Indian
-Headquarters: Mumbai
-Chairperson: Smt. Arundhati Bhattacharya

4.Padma Shri awardee VVS Laxman’s 281 awarded the Best Test Innings

Vangipurapu Venkata Sai Laxman’s (41) masterly innings of 281 against Australia at the Eden Gardens in Kolkata on 14 March
2001 has been voted the greatest Test performance of the last 50 years by a 25-member panel of cricketers, writers,
broadcasters, historians and statisticians assembled by the January issue of ESPN’s digital magazine the Cricket Monthly.

January-3

1. PM Modi inaugurated Indian Science Congress in Mysuru

• Prime Minister Narendra Modi inaugurated the 103rd Indian Science Congress in Mysore, Karnataka. 
• The event is being held at the University of Mysore from January 3 to 7.

2. “Two Indian Capitals” in World’s top-30 “Super Cities”

• According to the study conducted by international real estate consultancy JLL, two Indian capitals have made it to a top-30 list of the World’s most powerful, productive and connected cities.
• India’s national capital Delhi ranked at 24th.
• India’s financial capital Mumbai is placed at 22nd.
• The list is topped by Tokyo which is followed by New York, London and Paris in the top four “super cities”.

3. NPCI Awards conferred upon Corporation Bank

• Corporation Bank has bagged three awards at the “National Payments Excellence Awards 2015” event recently. The function was organised by National Payments Corporation of India (NPCI).

• The award was presented by R Gandhi, Deputy Governor of Reserve Bank of India. Corporation Bank received the winner award jointly with Indian Bank for “Cheque Truncation System” under the mid-sized category. The bank also received two runner-up awards for National Financial Switch for its performance in acquirer transactions and Immediate Payment Service (IMPS).

4. Flipkart wins ‘Website of the Year India 2015

• Flipkart has been named the overall winner of the ‘Website of the Year India 2015’ in an online poll which was conducted by marketing analytics company MetrixLab.
• The winner was decided among over 185,000 votes on parameters of the “content, navigation, designs and recommendation intention”. The polling took place among 252 websites for 21 categories.
• Indian Railway Catering and Tourism Corporation (IRCTC) has won the Most Popular Website of the Year India 2015 Award for a second time in a row in the leisure and travel category.

5. BSE launches web-based RTA portals for filing of disclosures

Bombay Stock Exchange Ltd launched a web-based portal for registrars and share transfer agents (RTAs) to enable depositories as well as file disclosures.

• The move follows the Securities and Exchange Board of India’s (SEBI) decision to initiate a system involving stock exchanges, depositories and RTAs for generating system-based disclosures required under takeover regulations and insider trading norms.
• The disclosures are related to acquisition and disposal of shares by promoters and promoter group and pledge of equity shares by them.

6. 2015 SAFF football championship clinched by India

• The 2015 South Asian Football Federation (SAFF) championship has been clinched by India for the record seventh time. 
• The 2015 SAFF Championship was the 11th edition of men’s football championship of South Asia organized by SAFF.

January-2

1. DAVA project bags 2015 eASIA award for trade facilitation

•  The Drug Authentication and Verification Application (DAVA) project of The Department of Commerce has won the 2015 eASIA Award under Trade Facilitation category. The award was announced by Asia Pacific Council for Trade Facilitation (APCTF) and Tehran based (Iran) Electronic Business.

• The eASIA award is administered by AFACT which aims to development and promotion of trade facilitation, electronic business policies and activities in the Asia Pacific region.

• DAVA project was launched by Union Government in June 2015. It seeks to create an integrated platform for implementation of the Track and Trace system for exporters and domestic markets of Drugs and Pharmaceuticals. The project aims to cover all the drugs manufactured in India and contribute considerably in enhancing the brand image of our pharmaceutical exporters.

• It will also provide simpler platform for the regulatory agencies and consumer for establishing drug authentication. Under this project, the DAVA application has been incorporated with value-added features like availability of stocks for a drug in an area/retailers/ wholesalers at a point of time.

• Using it drugs can easily be identified and recalled due to traceability of stocks which in turn helps in prevention of  black marketing which especially arises during epidemics

2. Government constitute Kamlesh Chandra Committee to study wage structure of Gramin Dak Sevaks

•  The Union Government has constituted a committee to examine the wage structure, service conditions of the Gramin Dak Sevaks (GDS) in the Department of Posts (DoP). It is one member committee comprising of Kamlesh Chandra, Retired Member of Postal Services Board.

•  The Committee will be assisted by Senior Administrative Grade Officer T.Q. Mohammad who will act as Secretary to the GDS Committee. The Committee will go into the service conditions of GDS and suggest changes as considered necessary. Examine the present system of Branch Post Offices, engagement conditions and existing structure of wage and enrolments paid to the GDS and recommend necessary changes.

• Review the existing Services Discharge Benefits Scheme and also other social security benefits for the GDS and suggest necessary changes. Review the existing facilities as well as welfare measures provided to the GDS and suggest necessary changes.Examine and suggest any changes in the method of minimum qualification for engagement as GDS. Conduct and disciplinary rules of GDS, particularly keeping in view the proposed induction of technology in the Rural Post Offices.

3. Telangana become first state to accept e-motor insurance policies

•  Electronic motor insurance policies are legally accepted by the police and transport authorities in Telangana from today, making it the first state in the country to do so. The e-Vahan Bima, an electronic motor insurance policy issued in digital form with Quick Response (QR) code, has been formally launched here by the Minister for IT, K T Ramarao.
•  As these policies can be stored and accessed on smart phones, the process of verification will become easier for commuters as well as police. There are 84 lakh vehicles in the state and 50 per cent of them do not have insurance.

• Driving a vehicle without a motor third party insurance is an offence under Motor Vehicle Act 1988 as it pays for legal liability in case of any injury or damage to any third party life or property caused by the use of vehicle in a public place.

•  "The launch of e-Vahan Bima and digital acceptance will help the poor accident victims in the state and also ensure better compliance,’’ Ramarao said after formally launch of the initiative here on Saturday.

• Going forward, registration certificates of vehicles and driving licences should be verified electronically, he added.The initiative was a joint effort by the Insurance Regulatory and Development Authority (IRDA) of India, Department of Information Technology, police and transport departments of the state.

4. Film-maker Shyam Benegal to head panel on Censor Board revamp

• To put an end to recent controversies surrounding the Censor Board, the Centre has set up a Committee headed by noted film-maker Shyam Benegal to work out a revamp plan and submit its report within two months.

• Noting that film certification has to ensure that in doing so (giving certification), “artistic creativity and freedom do not get stifled/curtailed and the people tasked with the work of certification understand these nuances,” the committee is expected to provide a “holistic framework and enable those tasked with the work of certification of films to discharge their responsibilities keeping in view this framework,” a statement from Information & Broadcasting Ministry said.

• The other members of the Committee are Hindi film director Rakeysh Omprakash Mehra, adman Piyush Pandey, film critic Bhawana Somaaya, Nina Lath Gupta of National Film Development Corporation and Joint Secretary (Films).

•  Among other things, the committee would be expected to take note of the “best practices in various parts of the world, especially where the film industry is given sufficient and adequate space for creative and aesthetic expression.”

•  It has been tasked with recommending broad guidelines/procedures under the provisions of the Cinematograph Act/Rules for the benefit of the chairperson and other members of the Screening Committee.

• The committee will also look into the staffing pattern of Central Board of Film Certification, known as the Censor Board, and recommend a framework to provide efficient/transparent user-friendly services.

5.Eight states to implement DBT in kerosene from April 1

•  Eight states have agreed to implement direct benefit of transfer in kerosene in 26 districts, the Ministry of Petroleum and Natural Gas said on Friday. The scheme will be implemented from April 1, 2016 and till then state governments will be consulted in the run up to the scheme.

• The scheme will be implemented in three districts of Chhattisgarh, two in Haryana, three in Himachal Pradesh, six in Jharkhand, four in Madhya Pradesh, two in Maharashtra, three in Punjab and three in Rajasthan.
• In these districts, the consumer will pay the un-subsidised price of kerosene at the time of purchase and subsequently the subsidy amount will be directly transferred to the bank account of the beneficiary, an official statement said.

•  Calculations of the savings will be based on the net savings in kerosene consumption at the state level from the baseline which would be 90 per cent of the 2015-16 allocation. The implementing states will be advised to take all necessary steps to ensure that eligible and genuine beneficiaries particularly in rural areas are able to access the full entitlement of kerosene.

•  Kerosene subsidy outgo for the financial year 2014-15 was ? 24,799 crore. The government expects DBT in kerosene to ensure that genuine beneficiaries get the subsidy benefit while preventing illegal diversion.

January-1

1. Ambitious odd-even scheme of Delhi government started off in New Delhi

• The ambitious odd-even scheme of Delhi government, a first such intervention in the country to combat spiralling air pollution, got off to a decent start on new year  with volume of cars on the city roads coming down significantly amid deployment of thousands of policemen and and moderately augmented public transport.

• As the clock struck eight, the vehicular restriction policy came into effect with thousands of volunteers carrying roses also taking to the streets to assist traffic police in enforcing the pilot plan that will stay in force till January 

• Under the scheme, cars bearing odd-numbered registration plates shall ply on city roads while those with even number plates, if taken out, will attract a penalty of Rs 2,000 under relevant sections of the Motor Vehicles Act. It will be vice-versa on Saturday. Also, 25 categories of people are being given exemptions including the VIPs.

2. Union government and the World Bank signed a $50-million credit agreement

• i. The Union government and the World Bank signed a $50-million credit agreement for a project aimed at helping young people from minority communities complete their education and improve their employment opportunities named Nai Manzil Scheme.

• The Nai Manzil Scheme is designed as an integrated education and training programme that provides youth from minority communities skills needed for different tasks in a rapidly changing world. 

•  The agreement was signed by Mr. Kumar and Michael Haney, the World Bank’s Operations Adviser in India.

3. LRSAM test-fired from INS Kolkata

• Long Range Surface-to-Air Missile (LRSAM), the missile co-developed by India and Israel, was successfully test-fired on the Western Sea Board. The missile was fired from INS Kolkata and it successfully intercepted an aerial target at extended ranges.

• The test-fire was jointly carried out by the Indian Navy, Defence Research and Development Organisation (DRDO) and Israel Aerospace Industries.

• This was the first test for LRSAM or BARAK 8 missile in India. Earlier, on 11 November 2015, it was successfully test-fired from a range in Israel.

•  The missile was developed by the DRDL, Hyderabad in collaboration with Israel Aerospace Industries. It has been manufactured by M/s Bharat Dynamics Limited, India.

4. D.K.Hota to be the new CMD of defence PSU BEML Ltd

• The Public Enterprises Selection Board has recommended D.K.Hota to be the new CMD of defence PSU BEML Ltd. He is currently Director (HR) of the Bengaluru-based BEML. He has been on deputation at BEML from oil marketing major HPCL for the past two years.

5. Harpal Singh Kumar received Knighthood from Queen Elizabeth II 

• An Indian-origin cancer research expert Harpal Singh Kumar received a Knighthood from Queen Elizabeth II for his influential work on prevention and treatment of cancer. His name appeared in the annual New Year’s Honours list that includes several other Indian-origin individuals.

• Samir Desai, founder-CEO of Funding Circle, received a Commander of the Most Excellent Order of the British Empire(CBE) for his work in the field of financial inclusion. Chairman of Sun Mark Ltd, Raminder Singh Ranger, was awarded a CBE for services to business and community cohesion.

• Among the Officer of the Most Excellent Order of the British Empire (OBE) list were Kala Patel, managing director of Kiddycare Ltd Nurseries, for services to childcare  business and Daljit Lally, deputy chief executive of Northumberland Country Council, for services to integrated care.

6. Indian Test captain Virat Kohli named ‘BCCI Cricketer of the Year’

• Indian Test captain Virat Kohli was named ‘Cricketer of the Year’, while Mithali Raj was picked for the M.A. Chidambaram Trophy for the best women’s cricketer.

• Under Kohli, the Indian team ended a 22-year wait for a series win on Sri Lankan soil before battering world No.1 South Africa to give them their first overseas loss in nine years. Mithali, on the other hand, became the first Indian woman and second overall to complete 5,000 runs in ODI format this year.iii. In other awards, former wicketkeeper Syed Kirmani will be presented the Col. C.K. Nayudu Lifetime Achievement Award. Karnataka all-rounder Robin Uthappa has been picked for the Madhavrao Scindia Award for being the highest run-scorer in Ranji Trophy.

7. Magnus Carlsen won the Qatar Masters Open chess tournament 

• World champion Magnus Carlsen of Norway won the Qatar Masters Open chess tournament, billed as the strongest Open in history. The top seed had finished with seven  points, the same as Yu Yangyi of China, seeded 11th. He drew his 10th and final round encounter with former World champion  Vladimir Kramnik of Russia, while Yu defeated Wesley So of the United States.

• Surya Shekhar Ganguly was the best-placed Indian, at 10th.