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Goods and Services Tax Bill, 2014 introduced in Lok Sabha

It is also called Constitution (122nd Amendment) Bill


It seeks to introduce Goods and Services Tax (GST) regime

Inserts article Articles 246A, 269A and 279A in the Constitution

Provides for Union Finance Minister headed GST Council

Sets in a uniform and integrated indirect tax regime in India

14th Finance Commission submitted its report to President

It covers the period between 1 April 2015 and 31 March 2020


The Commission headed by former RBI Governor Y V Reddy

Provides for devolution of tax receipts from the Centre to the States

Article 280 of Constitution provides for appointment of Finance Commission

First and 13th Finance Commission Kelkar resp.

was headed





& Dr Vijay

Union government decriminalized Attempt to Suicide


For this purpose Section 309 of Indian Penal Code removed


20 th Law Commission headed by Justice A P Shah recommended in its 210 Report

210th Report on Humanization and Decriminalization of Attempt to Suicide

France was the first country to decriminalize this offence

Lok Sabha passed the Repealing and Amending (Second) Bill, 2014

Introduced as a periodic measure for updating the list of laws in force


Seeks to repeal 90 laws and pass amendment to two laws

Proposes to amend the two laws to rectify typographical errors

The laws are Railways (Amendment) Act, 2008 and the Indian Maritime University Act, 2008

Karnataka Mobile One App launched for m-governance

Launched by President Pranab Mukherjee in Bengaluru


First such app in India to usher in an era of mobile governance

Developed under the ICARE program of Karnataka government

Expected to provide more than 4000 services to citizens

Social Justice Bench constituted on social issue


Constituted by Supreme Court on 3 December 2014


Started operation on 12 December 2014

The brainchild of Chief Justice of India H L Dattu

Two-judge bench to be headed by Justice Madan B Lokur

The other member is Justice U U Lalit

627 names of Indians holding black money abroad submitted to SC


Includes details of treaties India signed with France and other nations

Half of the 627 names are Non-Resident Indians (NRIs)

Most of them have accounts with HSBC Bank, Geneva

SIT headed by Justice M B Shah is probing black money case

Union government unveiled new counter-Naxal doctrine


Proposes four-pronged approach to deal with Naxals











Perception Management Focus on security interventions in worst LWE-affected areas In moderately-affected areas, security and development initiatives will be focus In less affected areas, development interventions will take precedence

Swachh Bharat Mission launched

Launched on occasion of 145th birth anniversary of Mahatma Gandhi

Aims at making India clean by 2019

The year 2019 will be 150th anniversary of Mahatma Gandhi

Nine people nominated to inspire people to join the Mission

SC quashed allocation of 214 coal blocks

Quashed by SC bench headed by Justice R M Lodha

Allocations were arbitrary and illegal

4 out of 218 coal blocks not cancelled

Includes one of NTPC and SAIL each and two of Sasan UMPP owned by Anil Ambani

Pradhan Mantri Jan Dhan Yojana (PMJDY) launched

It was launched on 28 August 2014

Aims to open 15 crore bank accounts by 15 August 2015

It is a mega financial inclusion plan

Each person covered to be provided bank accounts and RuPay debit cards

Also provision for inbuilt insurance cover of 1 lakh rupees

India: first Country to Ratify the Marrakesh Treaty

India ratified the treaty on 30 June 2014

Will facilitate access to published works for blind and visually impaired persons

The treaty was signed in Marrakesh, Morocco on 28 June 2013

It has been signed by 64 countries

SC ruled Shariat Courts are illegal

No legal status has been granted to the Sharia Courts

Its fatwas/decrees are illegal if it violates fundamental rights

The decision was delivered by SC bench headed by Justice C K Prasad

The judgement given on a petition filed by Vishwa Lochan Madan in 2005

India became permanent signatory to Washington Accord

India signed the Accord on 13 June 2014


Joined a select group of 17 countries who joined the Accord

Global employment opportunities for India’s technical and engineering

graduates to increase











international boundaries


Sumitra Mahajan elected as Speaker of 16th Lok Sabha


She replaced Meira Kumar


Became the second women presiding officer of the Lok Sabha

She was elected to 9th Lok Sabha in 1989 for the first time

2014 elections was her eighth continuous term as Member of Parliament

Telangana became the 29th state of India


It achieved statehood on 2 June 2014


Ten districts of the then Andhra Pradesh became part of Telangana

Chandrasekhar Rao sworn-in as the first Chief Minister

ESL Narasimhan is the Governor of Telangana

Hyderabad is the joint capital of Telangana and Andhra Pradesh

Narendra Modi sworn-in as 15th Prime Minister of India


He was sworn-in on 26 May 2014


He took oath with 45 Council of Minister including 23 Cabinet Ministers

First Prime Minister of India born in independent India

For the first time 25% of the Cabinet post allocated to women

Swearing-in ceremony attended by heads of seven SAARC countries

16th Lok Sabha Elections 2014 The election results for 543 constituencies declared on 16 May 2014

Bharatiya Janata Party emerged victorious with 282 seats

Congress led incumbent government just secured 44 seats

BJP won the majority for the first time since independence

The elections were conducted in nine phases from 7 April 12 May 2014 Karnataka: first state in India to launch Health Adalat

The Health Adalat was launched in Gulbarga, Karnataka.

Aims to ensure that all health facilities extended by the government reached all sections of society.

During Health Adalat the department will interact with public representatives.

Debroy Panel on restructuring Railway Board

The Panel would submit its report till the end of 2015

The seven-member panel will be headed by economist Bibek Debroy

Mandated to estimate the financial needs of railways and ensure policies to raise resources

Restructuring of railway board announced in Union Budget 2014-15

Film Liar's Dice: India's official entry for Oscar Awards 2015

The movie has been directed by Geethu Mohandas

It is nominated for the Best Foreign Language Film category

12-member jury headed by eminent filmmaker T Hariharan nominated it

Leading casts are Geetanjali Thapa and Nawazuddin Siddiqui

The 87th Oscar Awards will be held in the US on 22 February 2015

C Rangarajan Committee on Poverty

Total number of poor in India at 363 million or 29.6 percent of the population

The daily per capita expenditure pegged at 32 rupees for the rural poor

The daily per capita expenditure pegged at 47 rupees for the urban poor

Poverty line is pegged 972 rupees per month for rural India

Poverty line pegged at 1407 rupees per month for urban India

Largest Solar Power Plant of India launched

130-MW Welspun Solar Plant launched at Bhagwanpur in Neemuch, MP

It is also the Asia's Largest Solar Power Plant.

It was constructed at a cost of 1100 crore rupees.

The Project will raise Indian solar capacity by 7 percent.


US President signed Ukraine Freedom Support Bill, 2014

The Act authorizes administration to impose sanctions on Russia

The sanctions to be imposed if needs arises

Sanctions were imposed on Russia over Ukraine crisis

Authorizes 350 million US dollars in lethal and non-lethal military aid Ukraine

Japanese Prime Minister Shinzo Abe re-elected

He was re-elected for another four year term

Japan's ruling coalition won a two thirds majority in the Snap elections

Elections were held for the Lower House of the National Diet.

The elections saw the voter turnout at 52.7 percent, the lowest since World War-II

Nobel Prize presented

Peace Prize winners Kailash Satyarthi & Malala Yousufzai

Physiology Prize winners John O'Keefe, May-Britt Moser and Edvard I. Moser

Literature Nobel Prize winner French author Patrick Modiano

Physics Nobel Prize winner Isamu Akasaki, Hiroshi Amano and Shuji Nakamura

Chemistry Nobel Prize Eric Betzig from Janelia Research Campus, Stefan Hell, Gottingen

Economic Nobel Prize given to Jean Tirole

First World Soil Day observed on 5 December 2014

The Day was observed by the UNFAO

UNFAO and GSP declared the year 2015 as UN International Year of Soils

Events held to raise idea that soil is a critical component of natural system

The day coincides with birthday of Thailand’s King Bhumibol Adulyadej

Corruption Perceptions Index 2014 released

This was the 20th edition

Measures perceived levels of public sector corruption in 175 countries

India with a score of 38 was ranked 85 th

The index was topped by Denmark with a score of 92.

Index is prepared by Transparency International

Time Magazine released list of 25 Best Inventions 2014

Mangalyaan named among the best inventions of 2014

Magazine describes it as a technological feat

It is described as Supersmart Spacecraft- Mangalyaan

The list also includes two inventions of Indians namely Blue Room and tablet toy, Osmo

The G20 Summit 2014 concluded The Summit saw release of Brisbane Action Plan

Action Plan comprises of 800+ reforms to boost global growth

Sets an ambitious goal to lift G20 growth by 2.1 percent by 2018

Seeks to reduce the gender gap in labour force participation rates by 25 percent by 2025

25th anniversary of Fall of Berlin Wall celebrated

The fall of the Berlin Wall happened on 9 November 1989

It was the most significant event in recent German history

The Berlin Wall was built in 1961 by East Germany

It was built to stop people fleeing from East Germany to the West

The Wall stretched for 155 kilometers of which only 3 kilometer remains now

Forbes list of World's Most Powerful People 2014 released

The list gives the annual ranking of the World’s 72 Most Powerful People

The list was topped by Russian President Vladimir Putin.

Indian Prime Minister Narendra Modi was ranked 15th

Mukesh Ambani is ranked 36th on the list

India re-elected to UNHRC

It was re-elected for the period 2015-2017

India received the highest 162 votes in the Asia Pacific group

India’s first term as member due to end on 31 December 2014

14 other member states also elected to UNHRC for a three-year term

The UNHRC promotes and protects human rights

India-Vietnam signed 7 pacts

Pacts signed to strengthen Strategic Partnership


Signed during President Pranab Mukherjee visit to Vietnam

President gifted sapling of the holy Bodhi Tree to Vietnam

Diplomatic relations between the two countries established in 1972

The strategic relationship between the two countries established in 2007


Inaugural Tang Prizes 2014 presented in Taipei


The Tang Prize is treated as Asia's version of the Nobels


Winners of the inaugural Tang Prizes are



Sustainable Development - Gro Harlem Brundtland former Premier of Norway


Sinology Chinese American, Historian Yu Ying-shih



Biopharmaceutical Science - James P Allison of US and Tasuku Honjo of Japan


The Rule of Law - Albie Sachs, former justice of the Constitutional Court of South Africa

Unity Deal signed in Afghanistan


Unity deal signed between Abdullah Abdullah and Ghani Adhmadzai











Afghanistan The stalemate was due to allegations that elections were rigged

The deal calls of creation of post of CEO who will be the acting Prime Minister


Ebola Virus Disease outbreak


More than 7000 patients died due to the Ebola Virus in West Africa.


Ebola Virus disease first surface in Guinea in March 2014

Nigeria, Sierra Leone, Guinea and Liberia are the countries affected

Ebola disease was first detected in Congo basin of Zaire

Fields Medal 2014

The Fields Medal Awards held in Seoul, South Korea.

The award recognized contributions of four medalists.

Artur Avila, Manjul

Bhargava, Martin Haire, Maryam Mirzakhani are the

recipients The Fields Medal was first awarded in 1936.

First winner were Finnish mathematician Lars Ahlfors and American mathematician Jesse Douglas.

Prayuth Chan-ocha elected Prime Minister of Thailand He is the 29 th Prime Minister of Thailand

He was elected with a vote of 191-6 votes in National Legislative Assembly (NLA)

He is a former Army Chief of Thailand

He seized the power in June 2014

6th BRICS Summit: Fortaleza Declaration

Held in Fortaleza, Brazil on 15 July and 16 July 2014.

Theme of the Summit was Inclusive Growth: Sustainable Solutions.

The participating countries Brazil, Russia, India, China and South Africa

The BRICS Network University will be established

BRICS Development Bank to be established

UNSC adopted resolution to probe into MH-17 plane crash

Resolution adopted by 15-member UNSC unanimously.

It demands free access to the crash site of Malaysian plane MH17.

It insisted on dignified and respectful treatment of bodies of the victims.

Science & Technology

Scientific breakthrough of the year 2014: Rosetta space mission

Rosetta is the European space mission

First spacecraft to land on a comet

The comet is named 67P/Churyumov-Gerasimenko

It landed on 12 November 2014, 10 years after the launch

ISRO successfully launched GSLV Mark-III-X from Sriharikota

This was the experimental launch of the rocket

Weighing 630 tonnes, it is India’s heaviest rocket

It carried Crew module Atmospheric Reentry Experiment (CARE)

The full fledged launch of the rocket will take place in two years.

India joined Thirty Meter Telescope Project

India jointed the project as Full Member

India to deliver 100 smaller, hexagonal mirrors

The project in India coordinated by Dept of Science & Technology and DAE

The telescope will be the largest in the world.

It is being built atop Mauna Kea Mountain in Hawaii.

World’s first womb-transplant baby born The baby boy was born to a Swedish woman

It was born at the University of Gothenburg's hospital

The woman was born without a womb, although the ovaries were intact

The replacement womb came from a 61-year-old woman

She was suffering from a genetic condition called Rokitansky syndrome

New compound BQU57 developed

It will block protein Ral aiding cancer growth

Developed at University of Colorado Cancer Center

The study of the compound published in journal Nature

The lead author of the study is Dan Theodorescu

ISRO launched Mangalyaan to Mars orbit


India inserted the spacecraft in Mars orbit in first attempt

ISRO became the fourth space agency in the world to send a mission to Mars successfully

Mangalyaan costs 74 million US dollars, the most cost-effective in world

It will be finding the presence of methane on the Mars

INS Kolkata dedicated to nation


INS Kolkata commissioned at the Naval Dockyard in Mumbai

It is the country’s largest indigenously built warship

Equipped against enemy submarines, surface warships, anti-ship missiles and fighter aircraft

It is commissioned without its main air defence weapon

The warship has been constructed by Mazagon Dockyards Limited

New biochip to detect blood sugar via saliva


The advancement will help diabetics to not to undergo blood test

It is made from a one-inch-square piece of quartz coated with a thin layer of silver




series of specific chemical

reactions combined with plasmonic



The device is sensitive enough concentrations

to detect minutest differences in glucose

Lima Call for Climate Action

Issued at the conclusion of the 20th session of the Conference of the Parties (CoP)

The President of 20th CoP was Manuel Pulgar-Vidal

Intended Nationally Determined Contributions to form foundation for climate

action post 2020 Seeks to put world on track to New Universal Climate Agreement

21st COP will be held in Paris, France

The US and China agreed to cut greenhouse gas emissions

US will reduce carbon emissions by 26 to 28 percent by 2025, compared with

2005 levels China did not set a specific target, but said emissions would peak by 2030

The two countries agreed to reduce the possibility of military accidents in the air and sea

The two countries together produce about 45% of the world's carbon dioxide

India State of Forest Report 2013

It was released by Union Ministry of Environment & Forest

The India State of Forest Report 2013 was the 13th report in the series

States with maximum increase in forest cover are West Bengal, Odisha and

Kerala States with largest forest cover are MP & Arunachal Pradesh

Mizoram has the highest forests cover in terms of percentage of forest

Bor Wildlife Sanctuary of Maharashtra

It is India’s 47th Tiger Reserve


Union Environment Ministry notified Sanctuary as Tiger Reserve


Bor sanctuary is in Wardha district of Maharashtra


It will be an important corridor between Tadoba Andhari and Pench Tiger Reserves

Tiger Reserves in Maharashtra: Melghat, Pench, Tadoba, Nagzira and Sahyadri


Miss South Africa Rolene Strauss crowned Miss World 2014


Outgoing Miss World, Megan Young of the Philippines presented the sash


Miss Hungary, Edina Kulcsar, was the first runner-up

Miss United States, Elizabeth Safrit, was the second runner-up

India's Koyal Rana bagged the sub-title of Best Designer of the world

This was the 64th Miss World Competition

Justice Vaidyanathapura Rama Krishna Iyer died at 100


He died on 4 December 2014 due to renal and cardiac failure.


He was former Supreme Court Judge and an MLA from Kerala.

He became the judge of the Supreme Court in 1973

He retired at the age of 65 in 1980.

There are 105 published books by V. R. Krishna Iyer.

Australian opener Philip Hughes died


Died after a bouncer ball of Sean Abbott hit back of his head

The accident happened at Sheffield Game at Sydney Cricket Ground, Australia

He was a left-handed opening batsman

He had played 26 Tests and 25 ODIs for Australia


cricketers Raman

Lamba and








Chief Guest of Republic Day 2015: US President Barack Obama

He will be the first US President to attend the Republic Day Parade of India.

Obama will participate in the Republic Day celebrations of India on 26 January


Obama will be the first US President to travel to India twice.

Legendary Kathak danseuse Sitara Devi died

Dance based on themes, poetry and choreography of her father

She was born as Dhannolakshmi in the Brahmin family

Rabindranath Tagore described her as Nritya Samragini

She is known as a pioneering force in bringing the genre to Bollywood

Neha Gupta won International Children’s Peace Prize 2014

Awarded for her work to help orphans in India

Her organisation Empower Orphans has helped 25000 vulnerable children

She became the first ever American to be awarded with the prize

In 2013, the award was conferred on Malala Yousufzai

Hindi poet Kedarnath Singh received 49th Jnanpith Award

Conferred for his outstanding contribution towards Indian literature

10th Hindi writer to receive the country’s highest literary award

Known for his work Abhi Bilkul Abhi and Yahan Se Dekho

First recipient G Sankara Kurup for Odakkuzhal (Flute) in Malyalam language

Sanjaya Rajaram received World Food Prize 2014

Awarded for his research that led to increase in wheat production

He is credited with developing the Veery lines of wheat in the 1980s

He helped secure 1.3 percent rise in global wheat production per annum.

He is senior scientific advisor at the International Center for Agricultural Research in the Dry Areas

Arvind Subramanian appointed Chief Economic Advisor

Appointed Chief Economic Advisor (CEA) for a period of three years

Third economist of international rapport to be appointed as CEA

Expert of the Indian and Chinese economy

Raghuram Rajan, the RBI Governor, was previous CEA

Justice H L Dattu sworn-in as 42nd Chief Justice of India

Oath of office administered by President Pranab Mukherjee.

Succeeded Chief Justice RM Lodha

Lodha demitted office on 27 September 2014

Dattu will retire from his office on 2 December 2015.

He joined Supreme Court of India as a Judge on 17 December 2008.

Lalitha Kumaramangalam appointed Chairperson of National Commission for Women

Eighth chairperson of National Commission for Women

She was the National Spokesperson National Executive of BJP

National Commission for Women was set up as a statutory body in January


It was set up under the National Commission for Women Act, 1990

Narula Brothers won 7 crore rupees in Season 8 of KBC

The two brothers, Achin and Sarthak Narula emerged victorious in Season 8 of

KBC The tagline for the season 8 is Yahan Sirf Paise Nahi, Dil Bhi Jeete Jate Hain

The show was first telecast on Star Plus in 2000

It is based on the UK game show Who Wants to Be a Millionaire?

Govind Mishra received Saraswati Samman 2013

He received it for novel Dhool Paudhon Par

His novel was published in 2008

The novel illustrates the struggle of modern Indian women

He is the second Hindi author to be conferred with award

Harivansh Rai Bachchan was the first Hindi author to receive the award

Pran, the Creator of Chacha Chowdhury died at 75

He created or sketched Chacha Chaudhary for the Hindi magazine Lotpot in


His Chacha Chaudhary strips found a permanent place in International

Museum of Cartoon Art, USA. His name was included in People of the Year 1995 by Limca Book of Records.

Lt General Dalbir Singh Suhag took over as Chief of Army Staff

He succeeded General Bikram Singh to become the 28th Army Chief

He will serve as Army chief for 29 months till 31 December 2016

He is the 2 nd Gorkha Rifles officer to become Army chief

First was Field Marshal Sam Manekshaw

Veteran actress Zohra Sehgal died at 102

She was called as the grand old lady of Bollywood

She was the recipient of Padma Vibhshan, Padma Bhushan, Padma Shri

Sehgal’s daughter Kiran in 2012 wrote her biography named Zohra Segal:

Fatty Zohra last appeared in Sanjay Leela Bhasali's film Saawariya in 2007

Chandi Prasad Bhatt won the Gandhi Peace prize 2013

He is a Gandhian, an environmentalist and a social activist.

In 1964, he founded Dasholi Gram Swarajya Sangh (DGSS) in Gopeswar.

He was awarded with the Ramon Magsaysay Award for Community Leadership in 1982.

In 2005, he was awarded with Padma Bhushan.



Germany won men's Hockey Champions Trophy 2014


Germany defeated Pakistan by 2-0 margin to win the trophy


This was 10th Champions Trophy crown for Germany.

It had last won the tournament in 2007

For bronze medal, World champion Australia defeated India 2-1

UAE captain Khurram Khan: the oldest player to score an ODI century

He scored the winning century against Afghanistan in Dubai

He achieved the feat at an age of 43 years and 162 days

He broke the record of Sanath Jayasuriya

Sanath Jayasuriya had scored 109 against India in 2009 at the age of 39

Indian cricketer Rohit Sharma scored the highest ODI score ever of 264

The score of 264 runs is also the second-highest List A score

With this he became the only cricketer to score two Double ODI centuries

He achieved this distinction during the 4th ODI between India and Sri Lanka


broke the record

of highest ODI score


219 runs

made by


Sehwag Sachin Tendulkar was the first cricketer to score double century in ODIs

Virat Kohli became fastest cricketer to reach 6000 ODI runs

He achieved the distinction after his 53-run knock in the third ODI between India and Sri Lanka

He took 144 match and 136 innings to make 6000 runs


He is the eighth Indian to have scored 6000 or more runs and 47th overall


He overtook legendary West Indian Vivian Richards' record

Richards reached the matches

milestone in


by playing

141 innings



MC Mary Kom bagged her first Asian Games Gold Medal


She defeated Zhaina Shekerbekova of Kazakhstan


She won in women’s flyweight category (48-51kg)

First Indian woman boxer to clinch a gold medal at the Asian Games

She is nicknamed as Magnificent Mary

Chennai Super Kings won 2014 Champions League Twenty20 title

It defeated Kolkata Knight Riders by 8 wickets

The match was played at the M Chinnaswamy Stadium in Bengaluru.

Chennai Super Kings won the trophy for the second time.

Earlier they won the CLT20 in South Africa in 2011.

Hockey Player Manpreet Singh named Junior Men Player of the Year by AHF

The announcement was made at Asian Hockey Federation Congress


The congress was held at Kuala Lumpur, Malaysia.

Indian midfielder Manpreet Singh has played 103 international matches.

He is the captain of the India Junior Hockey team.

He made his international debut in 2011.

Marin Cilic of Croatia won Men's Singles title of US Tennis Open

Cilic defeated 10th seed Kei Nishikori of Japan

The Women’s singles was won by Serena Williams of US

The Men’s Doubles title was won by Mike and Bob Bryan of US

Sania Mirza of India and Bruno Soares of Brazil won the Mixed Doubles title

Ekaterina Makarova and Elena Vesnina of Russia won the US Open women's doubles title

2014 Glasgow Commonwealth Games concluded

The Medal tally was topped by England

India stood at the fifth position in the rankings.

India won 64 medals (15 Gold, 30 silver and 19 Bronze)

This was third highest medal haul after 2010 Delhi CWG and 2002 Manchester CWG

The 21st Commonwealth Games will be held in Gold Coast in Australia

Kush Kumar first Indian player to reach semis of World Junior Squash Championship

The World Junior Squash championship held at Windhoek in Namibia.

He defeated England's George Parker in straight games in quarterfinal.

Kush Kumar is a professional squash player from Chennai, Tamil Nadu.

Presently, his ranking is 220 in the world.

Himachal Pradesh to host First Para-gliding World Cup 2015 in India

This will be the first para-gliding World Cup to be hosted in India.

To be organised under Para-gliding World Cup Association, France.

It will be hosted in Kangra district of Himachal Pradesh from 24 October 2015

Himachal Pradesh had hosted the Para-gliding pre-World Cup in 2013

Germany won the 2014 FIFA Football World Cup

Germany beat Argentina 1-0 in the final


Final was played at the Maracana in Rio de Janeiro, Brazil

Mario Gotze scored the lone goal of final during the extra-time


It lifted the trophy for 4 th time in FIFA world Cup history and first since 1990

Germany became 1 st European South America




World Cup

played in



Sim Bhullar became first Indian-origin basketball player to join NBA

He signed a summer contract with the Sacramento Kings.


Sacramento Kings is a professional basketball team in the US.

Sim Bhullar is originally from Canada and his parents are from Punjab.

Novak Djokovic of Serbia won the Men’s Wimbledon Tennis Open 2014


He defeated Roger Federer of Switzerland


This is the second Wimbledon title for Djokovic

Djokovic won the seventh career Grand Slam

Djokovic won his first Wimbledon title in 2011

Economy & Corporate

Advisory Group on Integrated Development of Power


The Group was headed by Suresh Prabhu

It has suggested opening up of the coal sector

Called for improvement in Coal India Ltd and its subsidiaries

Expedite reforms in the distribution sector with targeted actions


SBI Mutual Fund launched Shariah Equity Fund

The fund is aimed at attracting investments from Muslim populations of India.

The fund approved by the All India Muslim Personal Law Board

SBI MF fourth fund house in India to have an Islamic equity fund.

India second country outside the Islamic world where a state-owned bank is

offering such fund The UK is the first country who issued sovereign Islamic bonds in June 2014

Kotak Mahindra Bank first bank in India to fully own insurance business

RBI gave permission to the bank for setting up Kotak General Insurance

Kotak General Insurance will be the 29th non-life insurance company in the country

The CEO of the company will be Mahesh Balasubramanian

The bank already promotes life insurance with Old Mutual of South Africa

SEBI de-recognised Delhi Stock Exchange (DSE)

De-recognised on account of serious irregularities in demutualisation process

SEBI demutualisation rules requires every stock exchange to sell brokers' 51% equity

DSE was incorporated in 1947

It is an amalgamation of Delhi Stock and Share Brokers' Association Ltd and the Delhi Stocks and Shares Exchange Ltd

Shell India won 18000-crore rupees tax dispute case

It won the tax case against Income Tax department

The decision given by Bombay High Court

Decision based on legal principle laid down in the Vodafone case

It ruled that transfer pricing does not arise in case of transfer of shares

The case pertains to alleged under pricing of shares issued by Shell India

Alibaba made the record of earning 9.3 billion US dollars on a single day

Alibaba shipped 278 million

orders out

of which


percent were mobile

devices It achieved the staggering figure on Singles Day shopping event


The event celebrates the bachelorhood of Young single Chinese

Alibaba is a Chinese e-commerce giant founded by Jack Ma

SoftBank of Japan to invest 10 billion dollars in India


Will invest in India's IT and communications sector in coming years


Announced to invest 627 million US dollars in Snapdeal












Technologies Chairman and CEO of the SoftBank is Masayoshi Son


Union government de-regulated diesel and hiked natural gas rates


The price of diesel to be market-linked


The retail rates will reflect price changes in the global market.

The government will no longer provide subsidy on diesel.

This is the first reduction in diesel rates since 2009.

Google closed Orkut


Orkut is a social network site


Google announced to shut down Orkut in June 2014.

Old users of Orkut can take back up of pictures till September 2006.

Orkut was started in 2004 and named after its creator, Orkut Buyukkokten.


Google has moved to a new platform the Google Plus.

Union government decided to wind up HMT Watches

The unit has been incurring losses since 2000


HMT Watches is a wholly owned subsidiary of Hindustan Machines Tools (HMT) limited

HMT Limited was set up at Bangalore in 1961 in collaboration with Japan’s

Citizen Watch In 2000, HMT Watch Business group was restructured as HMT Watches Ltd.

RBI fixed the upper age limit at 70 years for M.D. and CEO in private sector banks

The decision was taken to comply with the Section 196(3) of the Companies Act, 2013

Individual bank’s boards free to prescribe a lower retirement age for whole

time Directors Earlier, no maximum age was specified and decisions were taken case by case

Union Government granted Navratna Status to CONCOR







Public Sector Enterprise (CPSE) to


Navratna Status. The status was accorded by the Department of Public Enterprises.

CONCOR current Chairman and Managing Director (CMD) is Anil Kumar Gupta.

It deals in Export-Import and domestic trade and commerce policy of India.

Expenditure Management Commission constituted


The Commission will be headed by Bimal Jalan

He is a former RBI Governor

Commission will suggest the way for managing public finances by reducing subsidies.

ICICI Bank became the first bank in India to launch EMI facility on Debit Card

This was so far available only for credit cardholders.


enable customers to convert their high value transactions into easy



Facility available to debit cardholders with minimum fixed deposit of 10000 rupees

C S Verma elected as First President of Indian Steel Association

C S Verma is currently working as the head of Steel Authority of India Limited

DIPP notified Press Note 8 allowing 100% FDI in Rail infrastructure

The Indian Steel Association was formally launched on 26 August 2014

Aims to work towards transforming the Indian steel industry as a global leader

Membership of ISA open to any steel producer with a yearly capacity of at

least 2 million tones

FDI in rail infrastructure will be through automatic route

FDI will not be allowed in train operations and safety

Proposals involving FDI beyond 49 percent in sensitive areas to be placed before the Cabinet Committee on Security

Definitions of infrastructure and common facilities have also been widened

Union Finance Minister, Arun Jaitley presented Union Budget 2014-15

This was the first budget of newly appointed government led by Narendra Modi

It focussed on providing good infrastructure like public transport, solid waste disposal

Emphasized on skill development and entrepreneurship in the budget

Announced that the FDI cap in Defence sector would be raised to 49 percent