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1. RBI has held policy rates at current levels. However RBIs move to cut SLR by
50 bps to 22% could provide banks an additional liquidity of RS 44,000 crore.
Current fiscal year is expected to go up to 5.5 per cent from 4.7 per cent in last
financial year.
i. Bank Rate 9 % (Unchanged)

ii. Cash Reserve Ratio 4 %

iii. Statutory Liquidity Ratio 22 % (Decreased 0.5%)

v. Reverse Repo Rate 7 % (Unchanged)
% (Unchanged)

iv. Repo Rate 8 %

vi. Marginal Standing Rate 9

2. Union Government appointed chairman of Joint Intelligence Committee (JIC)

RN Ravi as Naga interlocutor. He was also appointment as Chief of the Joint
Intelligence Committee.
3. Turkey's ruling party named Finance Minister Ahmet Davutoglu as New
Prime Minister of Turkey.
4. Thailand coup leader, Army Chief Prayuth Chanocha was elected as the Prime
Minister of Thailand.
5. Prof. V. K. Thomas was appointed as Chairman of Public Accounts
6. Rajni Razdan became the new Chairperson of the Union Public Service
Commission. She replaced Prof. D P Agrawal.
7. K V Chowdary appointed as new Chairman of Central Board of Direct
Taxes (CBDT).
8. Arvind Gupta was appointed as Deputy National Security Adviser.
9. US actor and singer Harry Belafonte was named for honorary Jean Hersholt
Humanitarian Oscar Award.
10. Renowned agriculture Scientist M.S. Swaminathan was conferred with an
degree of the Doctor of Science by the University of Agriculture in Faisalabad,
11. Muzaffar Ali, renowned filmmaker and poet, was presented the 22nd Rajiv
Gandhi National Sadbhavana award.
12. Delhi University professor Dr. Sunil Kumar received Global South Award
given by International Political Science Association (IPSA).
13. Bharatiya Mahila Bank Ltd bagged the Core Banking System Initiative Award
for the year 2014 at the Asian Banking and Finance - Retail Banking Awards
14. Shah Rukh Khan became the Ambassador of Turn Back Crime campaign
of Interpol.
15. Russia granted a three-year residence permit to Edward Snowden, the
Former US intelligence contractor turned whistleblower.

16. Vinod Kumar Duggal resigned as Manipur Governor.

17. Sheila Dikshit submitted her resignation as Kerala Governor to The
President of India.
18. President Pranab Mukherjee conferred the Outstanding Parliamentarian
i. BJP leader Arun Jaitley received the award for the year 2010
ii. Congress Veteran Karan Singh received the award for the year 2011
iii. JD(U) leader Sharad Yadav received the award for the year for 2012
19. Maharashtra governor K Sankaranarayanan resigned.
20. Nuri al-Maliki resigned as the Prime Minister of Iraq and accepted the
candidacy of Dr. Haider al- Abadi, who was nominated by the President of Iraq
Fouad Masoum to form the new government.
21. Mamta Sharma, Chairperson of the National Commission for Women (NCW)
demitted office.
22. Deputy National Security Adviser Nehchal Sandhu.
23. Syrian Golan Heights was in news in the fifth week of August 2014 after
forty-three UN Peacekeepers from Fiji were held as hostage by an armed group of
24. Indian Army discovered a tunnel in the Pallanwalla sector along the Line of
Control in Jammu & Kashmir.
25. Bipan Chandra, former professor of history, died.
26. Oscar-winning British filmmaker and actor Richard Attenborough died.
Richard Attenborough was renowned for his critically-acclaimed biopic on
Mahatma Gandhi.
27. UR Ananthamurthy, an eminent Kannada writer died.
28. World-renowned yoga guru B. K.S Iyengar died.
29. Oscar-winning actor and comedian Robin Williams was found dead at his
30. Pran Kumar Sharma, the eminent cartoonist who created the comic book
character like Chacha
Chaudhary and Sabu died.
31. Union Home Minister Rajnath Singh launched a Plan Scheme of
Mainstreaming Civil Defence in Disaster Risk Reduction at a function at Vigyan
Bhawan in New Delhi.
32. Survey of India the official mapping agency of the country alleged that
Google continued to pollute
the internet with the map results of Indias classified areas even after being
warned against it.
33. The WHO called for a range of tough regulations that restricts the use of ecigarettes.
34. The WHO has declared Ebola as Global Health Emergency. The decision was
taken after a twoday emergency session held in Geneva.
35. President of Sierra Leone Ernest Bai Koroma declared a public health
emergency in Sierra Leone to curb the deadly Ebola outbreak.
36. Former Comptroller and Auditor General Vinod Rai authored a book titled
Not Just an Accountant.
37. A book titled Assassination of Rajiv Gandhi: An Inside Job? authored by Faraz
Ahmad was released.

38. A book titled Gujarats success story in Water Management was

released. This book was written by BJPs National Convener of Water
Management Cell, Sriram Vedire.
39. A book Strictly Personal, Manmohan and Gursharan written by
Daman Singh was published. The book is the untold story of Manmohan Singh,
Indias thirteenth Prime Minister, and his wife.
40. Sivaramakrishnan committee constituted by the Union Government to
suggest the place to build
the capital city of Andhra Pradesh submitted its report.
41. Prime Minister Narendra Modi set up a Ramanujam committee to identify
obsolete laws.
42. The Union Government decided to appoint former RBI governor Bimal Jalan
as the head of the
Expenditure Management Commission. He would be tasked to suggest ways
for managing public finances by reducing food, fertiliser and oil subsidies to
include fiscal deficit.
43. Lok Sabha speaker Sumitra Mahajan appointed a committee under the
chairmanship of former home secretary RK Singh to review Parliament
44. The Union Ministry of Human Resource Development set up a four member
committee to review the present status of Universities Grants Commission.
The committee will be headed by former UGC chairman Hari Gautam.
45. Indian Air Force and Russian Federation Air Force started Indo-Russian Air
Force Exercise, Avia Indra-2014 at Astrakhan region, near the Caspian Sea in
46. Indias first indigenously-built stealth Anti- Submarine Warfare INS Kamorta
was commissioned in Indian Navy by Union Defence Minister Arun Jaitley.
47. SEBI imposed a penalty of Rs.13 crore on Reliance Industries Ltd. (RIL) for
non-disclosure of a key earnings ratio.
48. SBI reported a 3.3 per cent rise in its net profit at Rs.3,349 crore for the first
quarter of 2014-15.
49. The Union Home Ministry has recommended the name of hockey wizard
Major Dhyan Chand for the highest civilian honour of Bharat Ratna.
50. Salman Rushdie has received the Hans Christian Andersen Literature Award.
51. BCCI has appointed former Test all-rounder Ravi Shastri Director of
Cricket in the Indian team
for the five-match ODI series against England.
52. T. M. Bhasin, Chairman and Managing Director of Indian Bank, has been
elected as the Chairman of Indian Banks Association.
53. The Narendra Modi government is likely to name Arvind Subramanian as
its Chief Economic Adviser.
54. President Pranab Mukherjee appointed Kalyan Singh, Vajubhai
Rudabhai Vala, Ch. Vidyasagar Rao and Mridula Sinha Governors of
Rajasthan, Karnataka, Maharashtra and Goa, respectively.
55. The Jan Dhan Yojana provides for a free zerobalance bank account with
a debit card, Rs 1 lakh
accidental insurance policy and Rs 30,000 free medical insurance cover
for those who enroll before January 26 2015. Depending on the performance of

the accounts in the first six months, banks will later extend a Rs 5,000 overdraft
facility, thereby turning the debit card into a kind of credit card. The debit card is
being issued by RuPay of the National Payments Corporation of India. Accounts
will opened with any one document including electricity/telephone bill,
marriage/birth certificate for address proof and NREGA job card/ identity card of
accredited institutions for identity proof. Having an Aadhaar card/number is not
mandatory. These accounts
can be linked to aadhaar numbers later.
56. Government plans to hike its stake in IFCI Ltd to 51 per cent by infusing Rs
60 crore in the country's oldest financial institution. At present the stake is
nearly 48 per cent.
57. GDP grew by 5.7 per cent in the first quarter of the fiscal, marking the
fastest growth since March 2012, according to data released by the CSO. The
economy grew at 4.6 per cent in the fourth quarter of last fiscal.
58. Wholesale price index (WPI)-based inflation dipped to a five-month low of
5.19 per cent in July.
59. State-owned banks are likely to hit the capital markets in November in a bid
to meet Basel III capital adequacy norms, for which the requirement has been
estimated at Rs.2.40 lakh crore over a five-year period.
60. Syndicate Bank Chairman-cum-Managing Director (CMD) S.K. Jain
was arrested by the Central Bureau of Investigation, along with his brother-inlaw and four others, for allegedly receiving a bribe of Rs. 50 lakh.
61. A Bill to further empower SEBI to check fraudulent investment schemes was
introduced in the Lok Sabha.
62. RBI issued draft guidelines for the implementation of Bharat Bill
Payment System.
The RBI has invited comments from stakeholders by September 5. The objective
of the BBPS is to implement an integrated bill payment system across the
country and offer interoperable and accessible bill payment service to customers
through a network of agents, enabling multiple payment modes and providing
instant confirmation of payment.
63. Chaired by Reserve Bank Governor Raghuram G. Rajan the Sub-Committee
of the Financial Stability and Development Council (FSDC) reviewed the domestic
macro economy and potential risks facing the financial system.
64. SEBI approved the SEBI (Real Estate Investment Trusts) Regulations, 2014,
and SEBI (Infrastructure Investment Trusts) Regulations, 2014. The SEBI move
will provide a framework for registration and regulation for setting up and listing
of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts
(InvITs) in India. Once registered, the REIT will raise funds through an initial offer.
Subsequent raising of funds would be through follow-on offer, rights issue and
qualified institutional placement. The minimum subscription size for units of REIT
will be Rs. 2 lakh.
65. Moodys said the countrys GDP would grow by 5 per cent this year and
accelerate further in 2015.
66. On a Supreme Court directive, SEBI has issued a public notice asking those
holding bonds issued by two Sahara Group companies to apply for refund by
September 30.

67. RBI asked the State governments to be vigilant against unauthorised deposit
mobilization activities in different parts of the country.
68. The Union Rural Development Ministry has suggested doubling the amount
of financial assistance offered to villagers to build homes saying the current
allocation of Rs 70,000 was "insufficient". A paper on National Gramin Awaas
Mission (a rechristened version of Indira Awas Yojana) prepared by the
ministry on housing said the amount should be Rs 1.5 lakh.
69. India has decided to acquire US Boeing's Chinook and Apache helicopters,
an Indian defence ministry official said, in a deal valued at $2.5 billion. The deal
topped the agenda during a visit by U.S. Defence Secretary Chuck Hagel in
70. The much-awaited minimum monthly pension of Rs 1,000 and a higher
wage ceiling of Rs 15,000
for social security schemes run by retirement fund manager EPFO will be
implemented from September 1.
71. Govt lifted the restriction of supply of only one subsidised cooking gas LPG
cylinder to a household in a month, saying consumers can avail their quota of 12
bottles at anytime of the year.
72. India has banned Finmeccanica group of companies from bidding in
contracts, a defence ministry source said. In January, India cancelled a 560million-euro ($751 million) order with Finmeccanicas unit Agusta Westland for 12
topend helicopters after Italian prosecutors alleged the defence group had paid
bribes to Indian
officials to win the contract.
73. The government notified the hike in foreign investment limit in defence
production to 49% from 26% approved by the cabinet recently. It said even
beyond the new limit of 49%, foreign investment would be considered on case to
case basis by the Cabinet Committee on Security.
74. The government will spend Rs 20,000 crore to provide mobile
connectivity in 55,000 villages, which are still untouched by wireless
telephony, in the next five years.
75. Gujarat has grabbed a lion's share, 45 percent, of the country's total exports
that were made from Special Economic Zones or SEZs during the year 2013-14.
76. Government has started the process for setting up four new ultra mega
power projects in Bihar, Jharkhand and Odisha, which will together add
16,000 MW capacity to the country's power generation. UMPP is a thermal
power project of at least 4,000 MW capacity, with an approximate
investment of Rs 25,000 crore. So far, four UMPPs have been awarded. Of this,
Sasan (Madhya Pradesh), Krishnapatnam (Andhra Pradesh) and Tilaiya
(Jharkhand) have been bagged by Reliance Power. Tata Power is operating the
Mundra UMPP in Gujarat.
77. Government hiked the import duty on both raw and refined sugar to 25 per
cent from the existing 15 per cent.
78. Delhi has been ranked a dismal 111th out of 140 world cities in a latest
global liveability study,
pointing to the lack of urban planning across India's polluted and chaotic cities.
79. Gujarat followed by Maharashtra and Karnataka are the leading states
attracting significant investment in Indias hotels and tourism industry.

80. India ranked fifth amongst top ten wind power producers in the world
by adding 1,700 MW capacity in 2013, a report said. "China was the leading
wind power producer by adding 16,100 MW capacity in 2013, followed by
USA, Germany and Spain," Renewable 2014 Global Status Report said.
81. The Defence Ministry has decided against blacklisting British aircraft engine
manufacturer Rolls-Royce and allowed the armed forces to do business related to
essential requirements with the firm, which is facing a CBI investigation for
allegedly paying commissions and employing middlemen in contracts with HAL.
82. In a bid to end the agitation against the Civil Services Aptitude Test (CSAT),
the Union government said the English comprehension skills component of Paper
II in the Civil Services preliminary examination should not be included for
gradation or merit.
83. Tata-SIA Airlines Limited announced that the much-anticipated brand
name of its new airline will be Vistara or limitless in Sanskrit with aubergine
and gold its colours.
84. Prime Minister Narendra Modi waived off Jammu and Kashmirs Rs. 60-crore
liability towards the Food Corporation of India and announced Central assistance
of Rs. 8,000 crore for four major road projects.
85. Prime Minister Narendra Modi announced the setting up of a new institution
to replace the Planning Commission.
86. Asian Development Bank said it will provide up to 7-9 billion loan to the
country over the next three years.
87. India and Singapore decided to scale up ties in key areas of investment and
trade which has witnessed a huge surge from USD 4.2 billion to about USD 19.4
billion in the last one decade. External Affairs Minister Sushma Swaraj visited
88. China inaugurated its second railway line in Tibet, built at a cost of USD 2.16
billion, close to Indian border in Sikkim, enhancing mobility of its military in the
remote and strategic Himalayan region.
89. India's economy is expected to record stronger growth momentum of 5.5
per cent in the current
fiscal, according to a UN report.
90. NASAs Mars rover, Opportunity, which landed on the Red Planet in 2004, is
now the record holder of the off-Earth roving distance after accruing 40
kilometres of driving, the American space agency said.
91. After the World Trade Organisation (WTO) failed to agree on a Trade
Facilitation Agreement (TFA) or global customs rules following Indian opposition
India has refused to agree on a TFA because it wants the WTO to decide
simultaneously on a higher limit on stockpiling of agriculture produce to feed the
92. Doordarshan programmes will soon be available across Asia, Europe,
North Africa and Australia, courtesy a memorandum of understanding signed by
Prasar Bharati with German public service broadcaster Deutsche Welle.
93. The two-day 18th BASIC countries (Brazil, South Africa, India and China)
Ministerial Meeting held in New Delhi.
94. Manjul Bhargava and Subhash Khot, mathematicians of Indian origin, are
among eight winners of the International Mathematical Union awards,
announced in Seoul.