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1. RBI/GDP/Banking News –

SC directed CBI to probe RBI and SEBI in multi-crore chit-fund scam


  • The Supreme Court of India on 13 February 2015 directed CBI to probe the role of Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) in the multi-crore chit-fund scam. It has directed the CBI to investigate their role for effecting a mechanism.
  • The Supreme Court bench of Justice TS Thakur and Justice Adarsh Kumar Goel in its order said that these regulatory bodies cannot turn a blind eye to the multi-crore chit-fund scam spread across several states. The bench observed that it needs to be investigated and there is nothing which remains outside the scope of the investigation.
  • The bench in its ordered referred 9 May 2014 order in which it directed the investigating agency to probe the duping of over 10000 crore rupees through several ponzi schemes in West Bengal, Odisha and Assam.


RBI decided to bring back one rupee notes


  • The Reserve Bank of India on 13 February 2015 announced that soon the currency notes of one rupees denomination will be in circulation. The notes will be printed by the Government of India.
  • RBI in its release informed that these currency notes are legal tender as provided in The Coinage Act 2011. It said that the existing currency notes in this denomination in circulation will also continue to be legal tender.
  • Hidden Word Bharat (भारत) vertically arranged on right hand side will be present.


SBI starts tech learning centres to help customers use alternate banking channels


  • To get customers to use alternate banking channels such as ATMs, Internet and mobile banking, State Bank of India has started technology learning centres at 385 regional business offices across the country.
  • India’s largest bank is conducting free interactive learning sessions for customers on the third Friday of every month at these offices.
  • Bank officials take customers through all the new products and handhold them on all the machines so that they can actually do transactions. So far the bank has covered about 30,000 customers through TLCs, she added.
  • The interactive learning session take customers through the how’s and why’s of the bank’s alternate banking channels, including Net banking, mobile banking, green channel, ATMs, Cash Deposit Machines, plastic banking (cards), pass book digital printing, and more.
  • Elaborating on these technology initiatives, the SBI chief said, it has started a quick – missed call – banking service.


Government to infuse ` 870 crore in Punjab National Bank


  • State-owned Punjab National Bank(PNB) today said government will infuse ` 870 crore into the lender by way of equity capital for the current fiscal.
  • The bank will seek approval of the shareholders on March 19 for the same, PNB said in a filing to the BSE.
  • The bank would issue over 4.42 crore shares at a price of ` 196.80 apiece to the government, raising ` 870 crore in the form of equity capital.


2. Business News –

Infosys announced to acquire automation technology firm Panaya Inc for 1200 crore rupees


  • Software services exporter Infosys Limited on 16 February 2015 announced to acquire US-based automation technology firm Panaya Inc. for 1200 crore rupees in cash. Panaya was originally founded in 2005 in Israel.
  • The deal is a part of Infosys Renew and New strategy to enhance the competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence.


Muthoot Group tied-up with WWF for its Friends for Life project


  • Kerala-based business conglomerate Muthoot Group on 14 February 2015 tied-up with World Wide Fund (WWF) for Nature-India for its Friends for Life project.
  • This project was launched in Kochi as part of the Muthoot’s Haathi Mera Saathi Corporate Social Responsibility (CSR) initiative.


BCCI, IPL get ` 425 cr notice for alleged forex violations


  • The Enforcement Directorate has slapped ` 425 crore show cause notice against BCCI, IPL, their officials and private multimedia firms for alleged contravention of forex laws in awarding a cricketing media rights contract in 2009.
  • The notices have been issued to close to ten individuals and entities which include former Board of Control for Cricket in India (BCCI) boss N Srinivasan, the then IPL Chairman Lalit Modi, Chief Operating Officer (COO) Sunder Raman, and the officials of World Sports Group (WSG) and Multi Screen Media (MSM) for allegedly and fraudulently “manipulating” the contract and hence making illegal payments.
  • The development comes at a time when the latest edition of Indian Premier League (IPL) players auction is underway in Bangalore today.

China launches $40 bn Silk Road fund


  • China today officially launched its ambitious USD 40 billion Silk Road infrastructure fund which will be managed by three of its major financial institutions.
  • The Silk Road Fund designed to finance China-proposed “Belt and Road” initiatives has began operation, the country’s central bank, People’s Bank of China said.
  • The Silk Road Fund Co Ltd was established in December last year in Beijing, after President Xi Jinping announced the creation of the USD 40 billion fund in November.


3. India –

Parle Products launched nationwide Litter Free Campaign


  • Parle Products on 12 February 2015 launched its nationwide Litter Free Campaign to urge consumers to show garbage its place.
  • Parle Products has launched the first phase of the Litter Free campaign. The campaign aimed at setting the course for community and raise awareness with its positive messaging, across the country through a series of Television Commercials.
  • The commercials are set in a series of everyday scenarios that viewers can identify with and encourage them to Show Garbage Its Place.


BrahMos missile successfully test-fired from INS Kolkata


  • India on 14 February 2015 successfully test-fired a BrahMos supersonic cruise missile from Indian Navy's latest destroyer INS Kolkata.
  • The launch off the Goa coast was flawless as the missile met all its designed parameters.
  • BrahMos is a missile with a range of 290 kilometers and can carry a conventional warhead of up to 300 kilograms. It has a top speed of Mach 2.8, which is three times faster than the US subsonic Tomahawk cruise missile. This speed makes BrahMos one of the fastest cruise missiles in the world. It can be launched from submarines, ships, aircraft and land.


Vanaj 2015, the first National Tribal Festival


  • Vanaj 2015 is a weeklong National Tribal Festival. It was in news as it was inaugurated by the Union Minister of Tribal Affairs Jual Oram on 13 February 2015 at the the Indira Gandhi National Center for Arts (IGNCA), New Delhi.
  • The weeklong festival will showcase the culture of the tribal people from across the country and will see several events and activities like screening of documentary films like Lodha – A Sylvan Community and Prakriti Ki Santan – Mising Tribe.
  • It will also showcase case the rich diversity of Tribal culture, art, painting, music, dance, tribal medicine, tribal food, and a special attraction- tribal cuisine.


Third National Lok Adalat disposed 56000 cases, disbursed 265 crore rupees for final settlement


  • The third National Lok Adalat on 14 February 2015 disposed of 56000 cases in a single day. It also disbursed of 265 crore rupees as claims towards final settlement in bank recovery and cheques bounce cases.
  • The third National Lok Adalat sought the cases that were pending in the Supreme Court, high courts, districts courts and taluka-level courts except in Assam and Uttar Pradesh. Several banks, financial institutions and others participated in it.
  • It was organised under the patronage of Chief Justice of India (CJI) HL Dattu and the leadership of Supreme Court Judge Justice TS Thakur.



4. Appointments –


Arvind Kejriwal sworn-in as Chief Minister of Delhi


  • Arvind Kejriwal on 14 February 2015 was sworn-in as Chief Minister of Delhi.
  • The oath of office and secrecy was administered by Lieutenant Governor Najeeb Jung at Ramlila Ground, Delhi.
  • Other than Arvind Kejriwal, six other party members Manish Sisodia, Satyendra Jain, Jitendra Tomar, Gopal Rai, Sandeep Kumar and Asim Ahmed Khan were administered oath as Cabinet Ministers.


Balasubramaniam Venkataramani appointed as MD & CEO of Multi Commodity Exchange


  • Balasubramaniam Venkataramani was on 13 February 2015 appointed as Managing Director (MD) and Chief Executive Officer (CEO) of Multi Commodity Exchange (MCX) Limited. He succeeded Manoj Vaish.
  • Prior to this appointment, Venkataramani was Chief Business Officer of Bombay Stock Exchange (BSE).
  • The post of MD & CEO of MCX was lying vacant since May 2014 when the then MD & CEO Manoj Vaish resigned. Since then, Joint Managing Director of MCX PK Singhal was looking after the day-to-day operations of the exchange.



Deloitte appoints India-born Punit Renjen as global CEO


  • India-born Punit Renjen was appointed the next CEO of U.S.-based accounting giant Deloitte’s global operations, becoming the first Indian-origin person to head a ‘Big-Four’ audit firm.
  • Mr. Renjen joins a growing list of persons of Indian origin like Indira Nooyi, Satya Nadela and Anshu Jain, who have made to the top posts at multi-billion dollar global corporations such as PepsiCo, Microsoft and Deutsche Bank, respectively.
  • Deloitte, which is present across 150 countries, including India, and employs over two lakh people, is one of the four largest audit firms in the world, and competes with PwC, KPMG and EY.


5. Awards & Honors –


Dr. Tessy Thomas, Geeta Varadan jointly named for Nayudamma Award 2014


  • Women scientists Dr. Tessy Thomas and Geeta Varadan on 15 February 2015 were jointly named for Dr. Y Nayudamma Memorial Award 2014. They have been chosen for the award for their outstanding performance in the field of science and technology.
  • Ramon Magsaysay award recipient Prof. Shanta Sinha will present the award to Dr. Tessy Thomas and Geeta Varadan at a special function to be held at Tenali in Guntur district of Andhra Pradesh on 1 March 2015.
  • This is the first time in the history of the trust that two eminent women scientists are being concurrently honoured.


Indian-origin scientist Professor Srikanth Jagabathula received CAREER Award


  • Indian-origin scientist Professor Srikanth Jagabathula on 11 February 2015 received Faculty Early Career Development Award (CAREER) given by the National Science Foundation (NSF) of the United States (US). Professor Srikanth Jagabathula is from the New York University Stern School of Business.
  • He received the award for developing data-driven modelling and learning techniques to improve the accuracy of operational decision making.


Nagesh Kukunoor’s film Dhanak won two awards at 65th Berlin International Film Festival


  • Film Dhanak directed by Nagesh Kukunoor on 14 February 2015 won two awards at the 65th Berlin International Film Festival. The 65th annual Berlin International Film Festival was held from 5 February 2015 to 15 February 2015.


The awards won by the film are:

  • Special Mention for the Best Feature Film by the Children's Jury for Generation Kplus
  • The Grand Prix of the Generation Kplus International Jury for the Best Feature-length film for which the film received 7500 euro as prize money


Chhattisgarh Government awarded for Renewable Power Development in the State


  • Chhattisgarh Government was on 15 February 2015 awarded by Prime Minister Narendra Modi for being one of the best-performing states in the Renewable Energy Sector in India.
  • The Principal Secretary of Chhattisgarh Energy Department, Aman Singh was presented with the award during the first Renewable Energy Global Investors Meet (RE-Invest) 2015 that was held in New Delhi.


6. Visits –

President of Singapore Tony Tan Keng Yam visited India

  • President of Singapore Dr. Tony Tan Keng Yam was on a State visit of India between 8 and 11 February 2015. He visited India at the invitation of the President Pranab Mukherjee.
  • His visit highlighted the celebrations on the occasion of the 50th anniversary of establishment of diplomatic relations between India and Singapore.

Maldivian Foreign Minister Dunya Maumoon visited India


  • Maldivian Foreign Minister Dunya Maumoon on 15 February 2015 met External Affairs Minister Sushma Swaraj in New Delhi.
  • Maumoon was in India to boost ties between the two countries.
  • During the meet, the two leaders reviewed the developmental projects in Maldives and also the possible agenda for visit of Prime Minister Narendra Modi to Maldives.


7. Sports –

Virat Kohli became first Indian cricketer to score century against Pakistan in World Cup


  • Virat Kohli on 15 February 2015 became the first Indian cricketer to score a century against Pakistan in the ICC World Cup.
  • India scored 300 for seven after electing to bat first in the 2015 World Cup opener defeated Pakistan by 76 runs.
  • The highest score by an Indian batsman before this match was Sachin Tendulkar’s 98 in Centurion, South Africa in 2003.


Yuvraj bags whopping ` 16 crore in IPL 8 Auctions


  • After tucking into its available purse of ` 39.75 crore, Delhi Daredevils picked Yuvraj Singh at a huge ` 16 crore in the IPL player auction that got underway at the ITC Gardenia here on Monday.

The list of players sold at the IPL auction at noon:


  • The teams: Chennai Super Kings: Michael Hussey (Aus), ` 1.50 crore; Rahul Sharma, 30 lakh; Kyle Abbott (SA), 30 lakh.
  • Delhi Daredevils: Yuvraj Singh, 16 crore; Angelo Mathews (SL), 7.50 crore; Amit Mishra, 3.50 crore; Gurinder Sandhu (Aus), 1.70 crore; Jaydev Unadkat, 1.10 crore.
  • Kolkata Knight Riders: James Neesham (NZ), 50 lakh; Brad Hogg (Aus), 50 lakh.
  • Kings XI Punjab: Murali Vijay, 3 crore.
  • Mumbai Indians: Aaron Finch (Aus), 3.20 crore; Pragyan Ojha, 50 lakh; Mitchell McClenaghan (NZ), 30 lakh.
  • Rajasthan Royals: Christopher Morris (SA), 1.40 crore.
  • Royal Challengers Bangalore: Dinesh Karthik, 10.50 crore; Darren Sammy (WI), 2.80 crore; David Wiese (SA), 2.80 crore; Sean Abbott (Aus), 1 crore; Adam Milne (NZ), 70 lakh; S. Badrinath, 30 lakh.
  • Sunrisers Hyderabad: Trent Boult (NZ), 3.80 crore; Praveen Kumar, 2.20 crore; Kevin Pietersen (Eng), 2 crore; Eoin Morgan (Eng), 1.50 crore; Ravi Bopara (Eng), 1 crore; Kane Williamson (NZ), 60 lakh; Laxmi Ratan Shukla, 30 lakh.


Usain Bolt to retire after 2017 World Championships in London


  • Jamaican sprinter Usain Bolt on 14 February 2015 announced that he will retire from athletics after the 2017 World Championships in London.
  • The 28-year-old six-time Olympic gold medalist also said that he will focus on the 100metres in 2017.
  • He has won Six Olympic Gold medals from 2008-2012 Olympics.


8. Schemes –

Union Government approved revised Guidelines for Pradhan Mantri Gram Sadak Yojana


  • Union Government on 12 February 2015 approved revised Guidelines for Pradhan Mantri Gram Sadak Yojana (PMGSY).
  • The guidelines were revised to accord priority in the selection of roads for new connectivity as well as upgradation, leading to the eligible habitations in the Gram Panchayats identified by the Members of Parliament (MP) under Saansad Adarsh Gram Yojana (SAGY).


9. Obituaries –

Former Maharashtra Home Minister RR Patil passes away


  • Senior NCP leader R R Patil, who was Maharashtra’s Home Minister during the 26/11 terror attacks, died here today from cancer at the age of 57.
  • Patil breathed his last at Lilavati Hospital where he was on life support, hospital sources said.
  • The NCP leader, a six-term MLA from Tasgaon in Sangli district, is survived by his mother, wife, and two daughters.