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October 23, 2016

GA for IBPS : October 2016 Weekly Current Affairs Round up - 1st Week

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Hi Gr8Ambitionz readers, I am Shravan. Undoubtedly gr8 is providing excellent current affairs on daily basis. But I feel it would be more helpful for all IBPS PO and Clerical aspirants, if they provide the current affairs round up on weekly basis (by simply rounding off all the daily current affairs). As an initiative for this, I am sharing the Weekly Current Affairs of October 1st week taken from News Papers. If you like it, I will try to share more current affairs. Happy Reading :)

Important Current Affairs of October 2016 1st Week 

International Current Affairs of October 1st Week

Myanmar scraps stringent emergency law
  • Myanmar abolished a law that was used by the former junta government to stifle dissent and crush political opponents. A joint session of parliament approved a bill to scrap the Emergency Provisions Act that was introduced after Myanmar won independence from Britain. The law had laid out a,jail term of up to seven years for anyone engaged in any activity that was considered an offence against the state. It included spreading false news or committing treason ranging from sabotage of the railways to damaging telephone lines. The act also gave authorities powers to detain people without charge and allowed courts to convict anyone even if the case lacked sufficient evidence.

October 2016 : Expected Current Affairs Quiz - Set 17

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Name the first Indian city to be officially declared as one of the venues for hosting the 2017 FIFA U-17 World Cup ?

India's first indigenously-made nuclear submarine has been recently commissioned into Indian Navy's service. Name it ?

Mumbai has been ranked 39th in the 2016 Global Power City Index report, which was released by the Mori Memorial Foundation’s Institute for Urban Strategies. Which city topped the list ?

Which country has recently hosted the Junior South American Cricket Championship's 2016 edition, which saw participant teams from Chile, Argentina, and Peru ?


English Word Power Quiz for Competitive Exams - Set 42

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  1. A philologist studies 
    1. Ancient cultures
    2. Philosophy
    3. Languages
    4. Art
    5. Architecture
  2. To be tailor's dummy is to be
    1. A tailor's favourite
    2. Overdressed
    3. A fool
    4. Cunning
    5. Miserly

October 22, 2016

Banking Awareness 2016 in Simple Language - Lesson 12

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Dear Gr8 Ambitionists, in our yesterday's Banking Awareness 2016 Lesson 11, we have learnt about Types of Loans in India. In today's lesson, we shall learn about the Priority Sector Lending . Happy Reading :) 

Banking Awareness 2016 : Priority Sector Lending

Priority Sector Lending
  • Priority Sector refers to those sectors of the economy which may not get timely and adequate credit in the absence of this special dispensation. Priority sector was first properly defined in 1972, after the National Credit Council emphasized that there should be a larger involvement of the commercial banks in the priority sector.
  • The sector was then defined by Dr. K S Krishnaswamy Committee.

What is Priority Sector Lending ?

Priority Sector Lending is an important role given by the Reserve Bank of India (RBI) to the banks for providing a specified portion of the bank lending to few specific sectors like agriculture, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections.

22nd October 2016 Events - Important Current Affairs

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Dear Gr8 Ambitionists, here are today's (22nd October 2016) Important Current Affairs updates. Happy Reading :)

22nd October 2016 Current Affairs

International Affairs
  • South Africa today announced that it will quit the International Criminal Court, becoming the second country ever to leave the war crimes tribunal. 
    • ICC's rulings are inconsistent with domestic laws which give sitting leaders immunity, it claimed. 
    • This comes after South Africa ignored an ICC order last year to arrest visiting Sudanese president Omar al-Bashir, who is accused of genocide.
    • Note : Burundi is set to become the first nation to withdraw from the International Criminal Court in
  • Oxford University Press has announced the launch of the Hindi online dictionary, as part of the Oxford Global Languages programme
    • Important Note : Hindi is the ninth language to become a part of the initiative, which aims to build online dictionaries for 100 world languages. 

Current RBI Policy Rates and Reserve Ratios 2016

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Latest RBI Policy Rates (Repo, Reverse Repo, MSF, Bank Rate) & Reserve Ratios (CRR, SLR) 2016

The Reserve Bank of India has on 4th October 2016 has slashed Repo rate by a quarter of a percent (0.25%). This makes loans cheaper and provides greater liquidity in the market. Now banks can borrow from RBI at 6.25%.

RBI's policy announcements hold significance for many reasons.
  • A new procedure to decide policy rates has also been adopted. An act was passed in the parliament which called for keeping the retail price inflation between 2-6 percent. 
  • A committee has been formed comprising of representatives from both RBI and centre which now makes the call on key policy rates of the central bank. 
  • It was for the first time that a six member committee took the decision to reduce the repo rate and this decision was a unanimous one. 
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