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RBI / BANKING/ BUSINESS NEWS THIS MONTH

30 March: ICICI, HDFC Bank Cut Bulk Deposit Rates, Fixed deposit rate of
maturity between 121-150 days has been revised downward to 8 per cent from
8.25 per cent earlier.
30 March : RBI Gives Lenders More Flexibility to Cover Bad Loans. Lenders can
now divert as provision against bad loans a bigger share of the capital cushion
required to be set aside to guard themselves against an economic downturn.
30 March: RBI relaxes bad loans provisioning rules for banks
28 March: NBFCs' Prudential Norms Revised, Ratings Made Mandatory
28 March: I Moves To Cut Bank Exposure To Corporate Loans. Under the
proposal, banks would only be allowed to lend up to 25 per cent of their core
capital
27 March: The Securities and Exchange Board of India (Sebi) on Friday issued
detailed and relaxed set of guidelines for establishing international financial
services centres.
26 March: Australia's IAG to Up Stake in Insurance Venture with SBI
26 March: RBI bars Lucknow-based Pioneer Urban Cooperative Bank from doing
business
23 March: Don't Outsource Loan Processing Tasks: RBI to Bankers
23 March: Bank of Baroda Cuts Deposit Rate for a Select Maturity by 0.1%
24 March: PNB raises Rs 1,800 crore from bonds to fund infra projects
23 March: RBI to Issue Strategic Debt Restructuring Norms for Bad Loans
24 March: Japan Tops in Technology Transfer Pacts: RBI
20 March: Axis Bank cuts deposit rates by up to 0.25%
16 March: The Reserve Bank of India (RBI) on Monday asked non-bank financial
companies (NBFCs) to appoint a senior person for ensuring compliance with the
obligations under the prevention of money laundering regulations.
15 March: European Investment Bank to Set Up Office in India.
15 March: UK-based re-insurer Llyod's has initiated talks with the Insurance
Regulatory and Development Authority (IRDA) for starting operations in India
and opening offices here.
11 March: Indian Banks Late in Passing on Lending Rate Cuts: IMF

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NATION THIS MONTH


31 March: Union Ministry of Home Affairs proposed initiatives for women
security under Nirbhaya Fund.
31 March: Union Cabinet gave its approval for the Approach and Key
Components of e-Kranti.
30 March: Department of Agriculture and Cooperation approved the creation of
Price Stabilisation Fund Scheme.
30 March: Union Cabinet gave approval for the concept and institutional
framework of Sagarmala Project.
27 March: Supreme Court stayed AFT's decision to quash Army's 2009
Promotion Policy.
27 March: Union Ministry of Coal launched Electronic Coal Projects Monitoring
Portal (e-CPMP).
26 March: PRAGATI is a multi-purpose and multi-modal platform aimed at
addressing grievances of common man. It aims at simultaneously monitor and
review Union Government programmes and projects as well as projects flagged
by State Governments.
25 March: Union Ministry of Food Processing Industries sanctioned 17 Mega
Food Parks.
25 March: Twitter Samvad launched for direct communication between
Government and Citizens.
24 March: Union Ministry of Health and Welfare launched Media Campaign for
Mission Indradhanush.
24 March: Union Cabinet approved the Appropriation Acts (Repeal) Bill, 2015
24 March: Supreme Court declared Section 66A of Information Technology Act,
2000 as unconstitutional.
21 March: National Action Plan for Skill Training of Persons with Disabilities
launched in New Delhi.
21 March: Union Cabinet approved Pradhan Mantri Kaushal Vikas Yojana
(PMKVY) to impart skill training to youth.
21 March: Union Cabinet approved 33% women reservation in police forces of
all Union Territories.
20 March: Union Ministry of Environment to launch National Air Quality Index in
April 2015
20 March: Hyderabad International Airport handled record 10 million
passengers in 2014-15
19 March: Lok Sabha passed the Warehousing Corporations (Amendment) Bill,
2015
19 March: Lok Sabha passed Repealing and Amending Bill, 2014
18 March:
Rajya Sabha passed Insurance Laws (Amendment) Bill, 2015 by voice vote.
18 March: Union Cabinet approved the Undisclosed Foreign Income and Assets
(Imposition of Tax) Bill, 2015

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17 March: Supreme Court quashed the Union Governments decision to include


Jats in the Central OBC list.
17 March: Supreme Court cautioned government officials not to insist on
Aadhaar.
16 March: Development officers working in LIC are not workmen under
Industrial Disputes Act, 1947: SC
13 March: Union Ministry of Chemicals & Fertilizers launched Pharma Jan
Samadhan scheme.
13 March: High Courts cannot entertain plea against Armed Forces Tribunal:
Supreme Court
12 March: Indian Railways signed MoU with LIC for implementing Railway
projects.
11 March: Union Ministry of Corporate Affairs released the data of top ten
Corporate of 2014.
11 March: Land Acquisition (amendment) Bill, 2015 passed in Lok Sabha.
11March: Attorney General is a public authority under the RTI Act, 2005: High
Court of Delhi.
10 March: Prime Minister launched Indias first indigenously developed
rotavirus vaccine Rotavac.
10 March: Union Government released Digital Gender Atlas for Advancing Girls
Education.
7 March: NRDC, CCRAS signed Memorandum of Agreement to commercialize
ayurvedic medicines. The MoA provides Intellectual Property Rights services to
CCRAS in India and abroad.
7 March: Rajya Sabha passed Citizenship (Amendment) Bill, 2015
5 March: Lok Sabha passed Coal Mines (Special Provisions) Bill, 2015
5 March: Lok Sabha passed Insurance Laws (Amendment) Bill, 2015
4 March: Union Ministry of Shipping, Road Transport & Highways launched a
website Shipping Samvad.
4 March: Lok Sabha passed Motor Vehicles (Amendment) Bill, 2015
3 March: ECI launched National Electoral Roll Purification and Authentication
Programme.
3 March: Union Railways Ministry launched Customer Complaint Web Portal and
Mobile Application.
3 March: Lok Sabha passed Citizenship (Amendment) Bill, 2015
2 March: Defence Acquisition Council approved buying of 38 Pilatus trainer
aircraft for Indian Air Force.

INDIAN ECONOMY THIS MONTH


27 March: RBI signed Currency Swap Agreement with Central Bank of Sri Lanka.
24 March: Indian Railways launched RuPay pre-paid debit cards

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23 March: SEBI Board approved SEBI (International Financial Services Centres)


Guidelines, 2015
23 March: SEBI Board approved SEBI (Issue and Listing of Debt Securities by
Municipality) Regulations, 2015
7 March: RBI eased the norms for Housing Loans
5 March: CCEA gave nod to extend PDS Kerosene, Domestic LPG Subsidy Scheme
4 March: RBI reduced Repo rate by 25 basis points to 7.5 percent
4 March: Union Government and RBI signed an agreement on Monetary Policy
Framework
3 March: Core sector growth of India declined to 13-month low in January 2015.
3 March: Union Budget 2015-16: Vision 2022.

GLOBE-TROT THIS MONTH


31 March: China and Sri Lanka inked five agreements during visit of Maithripala
Sirisena to China
28 March: Fortune released the list of 2015 roster of the Worlds 50 Greatest
Leaders. The list included Prime Minister of India at 5th rank and Nobel Prize
winner Kailas Satyarthi at the 28th rank.
27 March: ADB released Asian Development Outlook 2015
27 March: India and ADB signed 300 million US dollar loan agreement to
improve connectivity in NE Region
26 March: Saudi Arabia launched military operation against Houthi rebels in
Yemen
26 March: India and Qatar inked six agreements to increase commercial and
economic exchanges
25 March: 18th Round of Talks between India and China on the Boundary
Question held in New Delhi.
25 March: US agreed to keep 9800 troops in Afghanistan through the end of 2015
25 March: Benjamin Nethanyahu of Likud Party won the Israel Elections 2015
20 March: NYU announced Prison Education Programme to Educate US
Prisoners
20 March: CII signed agreement with NUS to improve Indias rating on ease of
doing business
17 March: SIPRI released Trends in International Arms Transfers 2014 report
13 March: Times Higher Education released The World Reputation Rankings
2015
13 March: British Irish Visa Scheme came into force in India
12 March: India and Mauritius inked five MoUs to give impetus to bilateral
relations
12 March: India and Seychelles signed four agreements to boost security
cooperation

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7 March: Sri Lanka temporarily suspended Colombo Port City Project of China.
The project was inaugurated in September 2014 by Chinese President Xi Jinping.
7 March: India and Spain signed an agreement on Mutual Protection of Classified
Information.
7 March: Kathmandu-Varanasi-Kathmandu bus service flagged off.
4 March: Istanbul Civil Court of Peace fined Turkish President for calling
Monument to Humanity a Monstrosity.
3 March: Royal Mint unveiled new Coinage Portrait of the Queen Elizabeth II.
3 March: Forbes magazine released Global Billionaires 2015 annual list and Bill
Gates topped.
3 March: Egyptian court declared Hamas as terrorist group.
2 March: China launched Silk Road Infrastructure project in Northwest Province
of Gansu. This project will facilitate exchange of trade and tourism between
China and central Asian Countries.

APPOINTMENTS/ RESIGNATIONS THIS MONTH


27 March: Vikas Swarup appointed as MEA spokesman.Swarup will replace
incumbent Syed Akbaruddin and will take the charge on 18 April 2015, a day
after the return of Prime Minister Narendra Modi from his tour to France,
Germany and Canada.
26 March: KM Mani appointed as chairman of the Empowered Committee of
State FMS on GST
20 March: Sir Venkatraman Ramakrishnan named as President of Britains Royal
Society.
20 March: Indian Railways roped in Ratan Tata to lead Kaya Kalp council.
19 March: Air Marshal Sohail Aman appointed as Chief of Pakistan Air Force.
18 March: Union Government appointed VK Mathur, Girija Shankar as Chairmen
of Allahabad, Chennai bench of DRAT.
12 March: N Sakthan elected as Speaker of Kerala Assembly.
12 March: Union Government appointed Nine Executive Directors in Public
Sector Banks.
11 March: US President Barack Obama nominated David Hale as Ambassador to
Pakistan.
7 March: Indian-American Sunil Sabharwal re-nominated as Alternate Executive
Director at IMF by the US.
3 March: IAS officer Kewal K Sharma appointed as Delhi Chief Secretary.
3 March: Baldev Sharma appointed as chairman of National Book Trust.
2 March: Kannan Ramesh appointed as Judicial Commissioner to Supreme Court
Bench of Singapore
18 March: Anil Kakodkar resigned from the post of Chairman of Board of
Governors of IIT Bombay

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AWARDS/HONOURS/WORLD TITLES/NEW DISCOVERIES THIS MONTH

30 March: Balbir Singh Senior conferred with Major Dhyan Chand


Lifetime Achievement Award of Hockey India.
30 March: Madan Mohan Malaviya posthumously awarded Bharat
Ratna.
30 March: Aditi Arya won the fbb Femina Miss India 2015 title.
28 March: President presented Bharat Ratna award to Atal Bihari
Vajpayee.
28 March: ISRO won Gandhi Peace Prize 2014.
27 March: Nobel Laureate John Nash won Abel Prize 2015 for work on
partial differential equations.
27 March: CNN IBN announced Indian of the Year Award 2014, Prime
Minister Narendra Modi won the Indian of the Year Award 2014 while
Union Finance Minister Arun Jaitley won the award in Politics category
and N Chandrasekaran, CEO, Tata Consultancy Services, won the award
in Businness category.
26 March: Dalal Street Investment Journal (DSIJ) presented the awards
to fifteen PSUs under various catergories in recognition of
performance excellence and their contribution to the economy.
26 March: Renowned Hindi poet Gopaldas Neeraj won the Rashtriya
Kavi Pradeep Samman for the year 2012-13
26 March: Usha International Limited won the Gold award at 6th
Flame Awards 2015.
26 March: Union Government felicitated the winners of the third Web
Ratna Awards.
25 March: Indian-American author Akhil Sharma won The Folio Prize
2015 for novel Family Life.
25 March: Artist Bharti Kher conferred with the Knight of the Order of
Arts and Letters of France.
25 March: Amitav Ghosh among the 10 finalists shortlisted for 2015
Man Booker International Prize.
24 March: 62nd National Film Awards announce d.

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24 March: Madhav Gadgil and Dr. Jane Lubchenco won Tyler Prize for
Environmental Achievement 2015.
24March: Presidents award for Sanskrit, Pali/Prakrit, Arabic and
Persian language conferred.
24 March: Shashi Kapoor selected for the Dadasaheb Pha lke Award
2014.
23 March: Rajendra Singh, the Water Man of India, named as the 2015
Stockholm Water Prize Laureate.
21 March: Lata Mangeshkar won the Laadli Voice of the Century award.
13 March: Indian-origin Ganasen Reddy awarded with KwaZulu -Natal
2015 National Teachers Awards.
10 March: Veerappa Moily selected for Saraswati Samman 2014.
9 March: President presented Stree Shakti Puraskars and Nari Shakti
Puruskars for the year 2014.
4 March: Three South Asian women selected for International W omen
of Courage Award.
4 March: Rani Mukerji awarded by National Institute of Gender Justice
for representing the cause of women.
4

March:

Indian-American

physician

Rahul

Jindal

selected

for

Fulbright Nehru Distinguished Chair.


3 March: Namibian President Hifikepunye Pohamba won 2014 Mo
Ibrahim Prize for African Leadership.

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SPORTS NEWS THIS MONTH


31 March: Daniel Vettori retired from all forms of International Cricket.
30 March: Hockey India conferred inaugural Hockey India Annual Awards.
30March: Michael Clarke retired from ODI cricket.
30 March: Australia defeated New Zealand to win ICC Cricket World Cup 2015.
30 March: Saina, Srikant won India Open Super Series Badminton Women's &
Men's Singles titles.
23March: Sania Mirza and Martina Hingis won the women doubles title of BNP
Paribas Tennis Open.
23 March: Novak Djokovic won Indian Wells Open Tennis Men's Singles title.
21 March: Martin Guptill scored the highest-ever score of 237 in Cricket World
Cup history.
21 March: Pakistani cricketers Misbah-ul-Haq, Shaid Afridi retired from ODI
cricket.
20 March: Mahendra Singh Dhoni became first Indian Captain to register 100
ODI wins.
20 March: Ramachandran appointed as vice-chair of International Relations
Commission of ANOC.
19 March: Sri Lankan duo Mahela Jayawardene, Kumar Sangakkara retired from
ODI cricket.
18 March: Lewis Hamilton of Britain won Australian Grand Prix of Formula One.
16 March: Services won the 69th edition of Santosh Trophy of Football.
16 March: Kidambi Srikanth won the Swiss Open Grand Prix Gold title of
Badminton.
13 March: Karnataka clinched eighth Ranji title of cricket.
11 March: Kumar Sangakkara created history by scoring four successive
centuries in a Cricket World Cup.
11 March: United Arab Emirates won the bid to host AFC Asian Cup 2019.
9 March: Sri Lankan cricketer Kumar Sangakkara announced retirement from
Test cricket.
5 March: Australia created the record for highest ever score of 417 in Cricket
World Cup.
3 March: Mary Kom to quit boxing after 2016 Rio Olympics.
3 March: Roger Federer won the Dubai Duty Free Tennis Championships. Roger
Federer defeated Novak Djokovic 6-3, 7-5 to win the Dubai Championship title of
Tennis. This was 7th title in Dubai for Federer.
2 March: Rafael Nadal of Spain won the Argentina Tennis Open.
2 March: Jagmohan Dalmiya unanimously elected as President of BCCI.
EULOGIES THIS MONTH
23 March: Lee Kuan Yew, the founding father of Singapore died.
20 March: Marathi Folk legend Shahir Krishnarao Sable died.

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20 March: Former Australian Prime Minister Malcolm Fraser died.


13 March: Pioneer of Israeli Cinema Lia van Leer died.
14 March: Veteran Gandhian Narayanbhai Desai died.
12 March: Veteran fantasy author Sir Terence David John Pratchett passed away.
11 March: Veteran sports journalist K Baskaran died.
9 March: Industrialist Deepak Khaitan died.
10 March: Former Lok Sabha member Sadashivrao Dadoba Mandlik died.
7 March: Kerala Assembly speaker G Karthikeyan passed away.
6 March: Former Bihar Chief Minister Ramsundar Das died.
3 March: Ornithologist KS Lavkumar Khachar died at 84.
MISCELLANEOUS NEWS THIS MONTH
31 March: Port Blair Magnetic Observatory inaugurated to monitor seismic
activities. It is a part of network of observatories called as Multi-Parametric
Geophysical Observatories (MPGO), established by the Indian Institute of
Geomagnetism (IIG).
30 March: ISRO successfully launched IRNSS 1-D Navigational Satellite. The
satellite is the fourth of the seven satellites constituting the Indian Regional
Navigational Satellite System (IRNSS).
26 March:

NASA's Curiosity rover discovered biologically useful Nitrogen on

Mars.
26 March: Cabinet Committee on Economic Affairs (CCEA) approved the
National Super Computing Mission.
25 March:

Scientists at ANU found the worlds largest asteroid impact zone in

Warburton basin, Australia.

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19 March: Air-to-Air missile Astra successfully test fired from ITR Chandipur in
Odisha
10 March: Solar powered plane Solar Impulse-2 took off to round-the-world
odyssey from Abu Dhabi

RECURRING TERMS IN NEWSPAPER THIS MONTH

(1) Securities and Exchange Board of India (SEBI) approved new bonds called
Muni Bond- The SEBI on 22 March approved a
new set of norms for listing and trading of
municipal bonds on stock exchanges. Municipal
bonds, also to be known as Muni Bonds,
would allow authorities to raise funds including
for setting up of smart cities, by raising funds
from the public and from the institutional
investors. The municipal authorities, desiring of
issuing these bonds, would need to have a
strong financial track record and such bonds
would be listed on the stock exchanges.
To deepen markets and help raise funds for business and infrastructure projects, Sebi
today announced a slew of measures including for listing of municipal bonds and for
setting up of a global financial hub within India on the lines of Singapore and Dubai.
These bonds products are very popular among investors in many developed nations,
especially the United States, where they have attracted investments totalling over $500
billion and are among preferred avenues for household savings.
Besides, Sebi also announced a roadmap for the new fiscal, beginning next month, with
regard to new norms to help young entrepreneurs raise funds through listing of startups and crowd-sourcing, while it would streamline and strengthen its enforcement
process for better efficiency.
(2) Jan Dhan Yojana, Aadhar, Mobile numbers (JAM): Govt's tool to promote welfare
A day after Economic Survey talked of JAM trinity Jan Dhan Yojana, Aadhar, Mobile
numbers the BJP government on Saturday announced that it would work towards
creating a universal social security scheme for the poor through a slew of medical and
accident insurance schemes and a Senior Citizen Welfare Fund. The JAM trinity is to be
used to to expand welfare policies.
Finance minister Arun Jaitley said a large proportion of Indias population is without
insurance of any kind health, accidental or life.

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Worryingly, as our young population ages, it is also going to be pension-less.


Encouraged by the success of the Pradhan Mantri Jan Dhan Yojana, I propose to work
towards creating a universal social security system for all Indians, especially the poor
and the under-privileged, he said. The soon-to-be-launched Pradhan Mantri Suraksha
Bima Yojna will cover accidental death risk of Rs 2 lakh for a premium of just Rs 12 per
year. Similarly, the government will also launch the Atal Pension Yojana, which will
provide a defined pension.
To encourage people to join this scheme, the government will contribute 50 per cent of
the beneficiaries premium limited to Rs 1,000 each year, for five years, in the new
accounts opened before 31 December 2015, he said.
The third social security scheme that I wish to announce is the Pradhan Mantri Jeevan
Jyoti Bima Yojana which covers both natural and accidental death risk of Rs 2 lakh. The
premium will be Rs 330 per year, he said.
Noting that there are unclaimed deposits of about Rs 3,000 crore in the PPF, and
approximately Rs 6,000 crore in the EPF corpus, he said he proposes the creation of a
Senior Citizen Welfare Fund for appropriation of these amounts to a corpus.
(3) Indian Railways' Kaya Kalp council Under Chairmanship of Ratan Tata
Union Ministry of Railways has constituted Kaya kulp Council, an innovation council
for Indian Railways. Kayakalp literally means transformation. The council was
constituted by Union Minister of Railways Suresh Prabhu in order to fulfill the promise
made in the Railway Budget Speech.The council also seeks to re-engineer business and
introduce a spirit of innovation in Indian Railways. The council will act as a standing
body and will interact with all stakeholders and other interested parties.
Objective of the Council- To recommend innovative methods and processes for the
improvement, betterment and transformation of the Indian Railways.
Members- the Council initially will have following members,
Shiv Gopal Mishra, General Secretary of All Indian Railwaymens Federation
(AIRF).
M. Raghavaiah, General Secretary of National Federation of Indian Railway men
(NFIR).
While the other members of the Council will be announced in due course.
The Railway Ministery also constituted another committee, under former DIPP
secretary Ajay Shankar, to revamp ministry's PPP (publicprivate partnership) cell to get
private investment. The PPP Cell is critical for the growth of Indian railways since
getting funds for new projects has become a challenge.

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(4) Twitter Samvad launched for direct communication between Government and
Citizens
Union Government on 24 March 2015 launched new platform named Twitter Samwad
that facilitates direct communication between leaders, government agencies and
citizens. This platform was launched in association with social networking service
Twitter.
Through this, the government bodies can have a direct communication with citizens on
a daily basis via Tweets and SMS on their mobile devices
The service was launched by Prime Minister Narendra Modi during his meet with
Twitter Chief Executive Dick Costolo in New Delhi. The service is aimed to boost the
nation's e-governance plans.
As of now, 16 government offices, including the Prime Minister's Office, Ministry of
railways, the Bengaluru Police and the Chief Ministers of Andhra Pradesh, Gujarat, Uttar
Pradesh and West Bengal are participating in Twitter Samvad, which is powered by
Bengaluru-based Zip Dial, which was recently acquired by Twitter.
(5) Parliament passed Constitution (Scheduled Castes) Orders Amendment Bill,
2015
The Parliament has passed Constitution (Scheduled Castes) Orders Amendment Bill,
2015.This bill was first passed in Rajya Sabha on February 24, 2015 and later in Lok
Sabha on March 17, 2015. It was unanimously passed by a voice vote in both the houses.
The amendment bill seeks to ammend the list of Scheduled Castes in three statesHaryana, Karnataka, Odisha and one Union Territory- Dadra and Nagar Haveli.
Suggested Amendments- The Bill amends the Constitution (Scheduled Castes) Order,
1950 and the Constitution (Dadra and Nagar Haveli) Scheduled Castes Order, 1962.
The Bill proposes to add the following communities to the list of Scheduled Castes:
Haryana: Kabirpanthi, Julaha.
Karnataka: Bhovi, od, odde, Vaddar, Waddar.
Odisha: Dhoba, Dhobi, Dom, Dombo, Duria Dom, Katia, Kela, Nalua Kela, Khadala and
Turi.
Dadra and Nagar Haveli: Chamar.
The bill was introduced in Parliament as per the provisions of Article 341 of the
Constitution.
Article 341 empowers Parliament to include or exclude castes from the list of Scheduled
Castes in the notification. It also empowers the President to specify castes which will be
deemed as Scheduled Castes through a notification.

ABBREVIATIONS THIS MONTH


NABARD- National Bank for Agricultural & Rural Development
RTGS- Real Time Gross Settlement
NEFT- National Electronic Fund Transfer

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NAV- Net Asset Value


NPA- Non Performing Asset
ASBA- Account Supported by Blocked Amount
BIFR- Board for Industrial and Financial Reconstruction
CAMELS- Capital Adequacy, Asset Quality, Management, Earnings, Liquidity,
Systems & Controls
BCSBI- Banking Codes & Standard Board of India
BIS Bank for International Settlement
BCBS Basel Committee on Banking Supervision
BOP- Balance of Payment
BOT- Balance of Trade
BPLR Benchmark Prime Lending Rate
CCIL Clearing Corporation of India Ltd.
CIBIL- Credit Information Bureau of India Ltd.
CRISIL- Credit Rating Information Services of India Ltd.
CBLO- Collateralised Borrowing & Lending Obligation
CPI- Consumer Price Inde
ADR American Depository Receipts
GDR Global Depository Receipts
ALM- Asset Liability Management
ARC Asset Reconstruction Companies
FINO- Financial Inclusion Network Operation
CTT- Commodities Transaction Tax
CRM- Customer Relationship Management
KYC-Know Your Customer
R-Statutory Liquidity Ratio
CRR-Cash Reserve Ratio
MSF-Marginal Standing Facility
REPO-Repurchase Option
NBFC-Non Banking Finance Companies
OSMOS- Off-Site Monitoring & Surveillance
IFSC- Indian Financial System Code
BSE-Bombay Stock Exchange
NSE-National Stock Exchange
SWIFT- Society for Worldwide Interbank Financial Telecommunication
FSLRC Financial Sector Legislative Reforms Commission
LAF Liquidity Adjustment Facility
DRT Debt Recovery Tribunals

IMPORTANT DAYS THIS MONTH


March 3
March 4
March 8

National Defence Day


National Security Day
International Women's Day

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March 9
March 12
March 15
March 16
March 21
March 22
March 23
March 24

CISF Raising Day


Mauritius Day; Central Industrial Security Force Day
World Consumer Day, World Disabled Day
National Vaccination Day
World Forestry Day
World Day of Water
World Meterological Day
World TB Day

SPECIAL FEATURES OF THE MONTH


(1) PM launches PRAGATI: a multi-purpose, multi-modal platform for Pro-Active
Governance And Timely Implementation
Prime Minister of India, Shri Narendra Modi launched today his ambitious multipurpose and multi-modal platform PRAGATI (Pro-Active Governance And Timely
Implementation). PRAGATI is a unique integrating and interactive platform. The
platform is aimed at addressing common mans grievances, and simultaneously
monitoring and reviewing important programmes and projects of the Government of
India as well as projects flagged by State Governments.
Speaking on the occasion, the Prime Minister said the whole world is now observing
India keenly. It is imperative that governance in India becomes more efficient and
responsive. He said the PRAGATI platform was a step in this direction.
The PRAGATI platform uniquely bundles three latest technologies: Digital data
management, video-conferencing and geo-spatial technology. It also offers a unique
combination in the direction of cooperative federalism since it brings on one stage the
Secretaries of Government of India and the Chief Secretaries of the States. With this, the
Prime Minister is able to discuss the issues with the concerned Central and State
officials with full information and latest visuals of the ground level situation. Such an
effort has never been made in India. It is also an innovative project in e-governance and
good governance.
Immediately after assuming office, the Prime Minister had shown his keenness to design
a credible mechanism for redressal of Public Grievances. He was equally keen to see that
programmes and projects launched by the Central and State Government(s) are
monitored properly for timely implementation and desired outcome. With that spirit
and for holistic development of the country, it was also felt necessary to facilitate from
the Union Government level the projects of the States. Accordingly, with the three
objectives of: Grievance Redressal, Programme Implementation and Project Monitoring,
an IT-based redressal and monitoring system has been designed. It will combine Data
Management and Analysis, Geo-spatial Applications as well as Video-conferencing. The
application will be accessible to the Secretaries of the Government of India and the State
Chief Secretaries.
Key features of the PRAGATI application are as follows:

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1. It is a three-tier system (PMO, Union Government Secretaries, and Chief Secretaries of


the States);
2. Prime Minister will hold a monthly programme where he will interact with the
Government of India Secretaries, and Chief Secretaries through Video-conferencing
enabled by data and geo-informatics visuals;
3. The first such programme was launched on 25th March, 2015 (Wednesday) at 3.30
PM;
4. Now onwards, it will be held once in every month on Fourth Wednesday at 3.30 PMto be known as PRAGATI Day.
5. Issues to be flagged before the PM are picked up from the available database
regarding Public Grievances, on-going Programmes and pending Projects;
6. The system will ride on, strengthen and re-engineer the data bases of the CPGRAMS
for grievances, Project Monitoring Group (PMG) and the Ministry of Statistics and
Programme Implementation. PRAGATI provides an interface and platform for all these
three aspects.
7. It will also take into consideration various correspondences to PMs office by the
common people or from high dignitaries of States and/or developers of public projects;
8. The issues flagged are uploaded seven days prior to the PRAGATI day (i.e. on third
Wednesday of every month).
9. These issues can be viewed by the Union Government Secretaries and Chief
Secretaries after entering into the application;
10. User ID and Password for each of the Union Government Secretaries and Chief
Secretaries have been created and made available;
11. Union Government Secretaries and Chief Secretaries will be able to see the issues
pertaining to their Department /State;
12. Union Government Secretaries and Chief Secretaries have to put their comments
and updates about the flagged issues within three days (i.e. by next Monday);
13. One day Tuesday is available to the PMO team to review the data entered by the
Union Government Secretaries and Chief Secretaries;
14. The design is such, that when PM reviews the issue he should have on his screen the
issue as well as the latest updates and visuals regarding the same;
The system has been designed in-house by the PMO team with the help of National
Informatics Center (NIC). As the name suggests, it is aimed at starting a culture of ProActive Governance and Timely Implementation. It is also a robust system for bringing etransparency and e-accountability with real-time presence and exchange among the key
stakeholders.
(2) ISRO to Launch Fourth Navigational Satellite IRNSS-1D by March-End
SRIHARIKOTA, ANDHRA PRADESH: India today successfully launched a navigation
satellite using the Polar Satellite Launch Vehicle or PSLV from Sriharikota. With this
launch, the Indian Space Research Organization or ISRO says it can start operations of
India's own version of the Global Positioning System or GPS, useful in everyday life for

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navigation. This Indian technology is most needed by India's armed forces for precision
guidance.
India's PSLV lifted off at 5.19 pm from Sriharikota; within 20 minutes India joined a
select club of six that have the indigenous capability of generating their satellite-based
navigation signals.
"India today successfully placed its navigation satellite in orbit - a big achievement for
the country," said Dr Kiran Kumar, Chairman, ISRO.
This navigation system has an accuracy of less than 20 meters, which is comparable to
the best in the world.
" Today, most Smart phones are equipped to help in navigation but most people do not
know that the signals on these handsets are generated using satellites controlled by
America, useful for civilian applications. But, in times of war and hostility India could
not have relied on foreign vendors. As a consequence, the country developed a regional
navigation satellite system which will totally be in India's control helping the country's
strategic forces in precision guidance of ammunition and missiles.
With today's successful launch, the Indian space agency says very soon India's own
'GPS' system will become operational, a useful addition for the common man, but most
needed by the Indian armed forces as it will give them the much needed strategic depth.
(3) The 2015 Cricket World Cup was the 11th Cricket World Cup, jointly hosted by
Australia and New Zealand from 14 February to 29 March 2015.
This was the second time when the tournament was held in Australia and New Zealand,
with the first being the 1992 Cricket World Cup which was won by Pakistan.
Sachin Tendulkar was named asthe 2015 Cricket World Cup Ambassador bythe ICC for
the second time, after 2011 Cricket World Cup where he was the ambassador.
Important Stats:
Australia won the Cricket World Cup for the fifth time.
Man of the Series: Mitchell Starc
Man of the Match: James Faulkner
Most Runs: Martin Guptill
Most Wickets: Mitchell Starc & Trent Boult
Kumar Dharmasena of Sri Lanka was the umpire in World Cup Final. He is the
only player to play in a World Cup Final(1996) and umpire in one(2015).
Teams Played in 2015 ICC Cricket World Cup
1. India (Defending Champion)
2. Australia (Hosting nation)
3. Pakistan
4. South Africa
5. New Zealand (Hosting Nation)

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6. West Indies
7. Sri Lanka (Runners up of 2011)
8. Bangladesh
9. Zimbabwe
10. United Arab Emirates
11. Scotland
12. England
13. Ireland
14. Afghanistan(First in World Cups)
15. S.Ravi of India was in the ICC Cricket World Cup 2015 Umpire panel.
Indian Highlights at the World Cup 2015
India defeated Pakistan for the 6th Time in A Row in World Cups.
For the first time India defeated South Africa in a World Cup match.
MS Dhoni's 100th ODI win as India captain came against Bangladesh. The first
non-Australian captain to won 100 ODI matches, and first Indian captain to
achieve the mark. He is also the third captain to won 100 matches, after two
Australians, Ricky Ponting, and Allan Border.
A record seventh consecutive match in which India bowled the opposition out.
During India vs Banlgadesh the umpires received widespread criticism after
some controversial decision-making in that match. International Cricket Council
President Mustafa Kamal said that Bangladesh would appeal against the
decisions of the umpires in ICC's board meeting.
India lost to Australia as a result Australia never lost a World Cup Semi Final. As
a result of this match, no Asian team qualified for World Cup final, for thefirst
time since 1987.

Key Highlights from World Cup Matches:


Kumar Sungakkara (SL) became the second highest run scorer in ODIs.
The match between Australia vs England ended when James Anderson was run
out straight after James Taylor was given out lbw. As Taylor's decision was
reviewed and overturned, the ICC later admitted that the ball should have been
declared dead (according to Article 3.6a of Appendix 6 of the Decision Review
System Playing Conditions), and so Anderson was incorrectly given out.
Four players were dismissed for golden ducks during Scotland's innings against
New Zealand, the first such instance in World Cups.
Shakib Al Hasan became the first Bangladeshi cricketer to achieve 4000 ODI
runs.
Brendon McCullum (NZ) scored the fastest fifty in World Cup history (18 balls),
the third-fastest overall and the fastest ODI fifty by a New Zealander.
Kumar Sungakkara became the fourth cricketer to play 400 ODI matches.

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Dilshan's score of 161 not out was the highest individual score in an ODI without
hitting a six.
The Chappell-Hadlee Trophy, the trophy which is usually the prize in any standalone ODI series between Australia and New Zealand.
Lahiru Thirimanne became the youngest Sri Lankan player to score a century at
a World Cup.
Joe Root became the youngest English player to score a century at a World Cup.
Australia's score of 417/6 against debutant Afghanistan is the highest in World
Cup history. Dawlat Zadran (Afg) became the third bowler in World Cup matches
to concede 100 runs or more in an innings. Australia's victory margin of 275 runs
is the highest in World Cup history.
Kyle Coetzer scored Scotland's first ever World Cup century and the highestscore
by an associate nation player in World Cups.
In Australia vs Sri Lanka, Glenn Maxwell scored his first century in an ODI, the
second fastest in World Cups, and the fastest by an Australian in a World Cup (51
balls). Tillakaratne Dilshan hit six fours off an over, bowled by Mitchell Johnson,
the first time this has happened in World Cup history.
Kumar Sungakkara became the second player to score 14,000 ODI runs, and
scored a record third consecutive World Cup century.
Mahmudullah Riyad became the first Bangladesh player to score two consecutive
World Cup centuries.
Chris Gayle became the first batsman to score a Double Century in a World Cup
match and the first ever non-Indian batsman to score an ODI Double Century.
Gayle's Double Century was also the fastest Double Century in ODI cricket.
Gayle's 16 sixes in his innings equalled the ODI record jointly held by Rohit
Sharma and AB de Villiers.
The first time Pakistan defeated South Africa in a World Cup match.
Jean Paul Duminy (SA) became the first South African to take a World Cup hattrick.
AB de Villiers now holds the records for the most sixes in one World Cup
tournament (20) and the most sixes in all World Cup matches (36).
Martin Guptill became the first player to score two consecutive centuries forNew
Zealand in a World Cup.
The highest successful run-chase in a World Cup knockout match came forNew
Zealand against South Africa in the Semi Finals.
The first time New Zealand qualified for a World Cup final.

(4) Asian Infrastructure Investment Bank


3 European Powers Say They Will Join China-Led AIIB
Germany, France and Italy has announced that they would follow Britain and join the
Chinese-led Asian Infrastructure Investment Bank. With joining of these countries, the
total number of the bank's member states including India has gone up to 30.

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The AIIB is one of a number of new institutions launched by China, apparently in


frustration at the failure of the existing international order to accommodate its speedy
rise. In recent past efforts to reform the International Monetary Fund (IMF) are stalled
in the American Congress. America retains its traditional grip on the management of the
World Bank. The Asian Development Bank remains based in Manila but directed by a
succession
of
Japanese
bureaucrats.
China
has
proposed not just
the AIIB, but also a
New Development
Bank
launched
with its BRICS
partnersBrazil,
Russia, India and
South Africaand
a
Silk
Road
development fund
to
boost
connectivity with
its Central Asian
neighbours.
All
respond to the
need for massive
investment
in
infrastructure to
support
development.

(5) Actor Shashi Kapoor to get Dada Saheb Phalke Award


Veteran actor and film producer Shashi
Kapoor has been named for the
prestigious Dada Saheb Phalke Award
2014. He is the 46th film personality to
receive this honour.The actor who
turned 77 on the 18th of this month is
known for his performances in films
like Jab Jab Phool Khile, Deewar and
Kabhi Kabhie. He stepped into the
world of acting at the age of four, when

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he used to perform in plays directed by his father Prithviraj Kapoor.


Shashi Kapoor has got the National Award for best actor for the film New Delhi Times in
1986, National Film Award Special Jury Award / Special Mention (Feature Film) for
Muhafiz (1993) and the National Film Award for Best Feature Film in Hindi (as
Producer) for Junoon in 1979.

It is Indias highest award in cinema.It was established in 1969 to commemorate the


birth centenary year of father of Indian cinema Dadasaheb Phalke.The award is
conferred annually by the Union Government to person for his lifetime contribution to
Indian cinema. The Award comprises a Swarna Kamal (Golden Lotus) medallion, a cash
prize of 10 lakh rupees and a shawl.
(6) 62nd National Film Awards 2015:
The 62nd National Film Awards were announced in New Delhi today. The National Film
Awards is the most significant film award ceremonies in India. The Directorate of Film
Festivals set up by Ministry of Information and Broadcasting, Govt. of India organizes
national and international film festivals in India and also presents the National Film
Awards.
The awards areBest Feature Film: Court (Marathi, Hindi, Gujarati & English)
Best Popular Film for Providing Wholesome Entertainment:
Mary Kom
Indira Gandhi Award for Best Debut Film of a Director:
Asha for Jaoar
Majhe
Special Jury Award:
Khwada (Marathi)
Best Direction:
Srijit Mukherji for Chotushkone (Bengali)
Best Actress:
Kangana Ranaut for Queen
Best Actor:
Vijay for Nanu Avanalla Avalu (Kannada)
Best Supporting Actor:
Bobby Simhaa for Jigarthanda (Tamil)
Best Supporting Actress:
Baljinder Kaur for Pagdi The Honour
(Haryanavi)
Best Child Actor:
Kaakkaa Muttai (Tamil)

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