Thursday 23 January 2014

23 January 2014 – Current Affairs

by Ravindra Agnihotri
RBI-Currency-Notes-Notification-2005
1) The Reserve Bank of India (RBI), on 22 January 2014, warned that it would withdraw from circulation all old banknotes and announced 31 March 2014 as the deadline for exchanging these notes. Notes issued before which year will be withdrawn by the RBI? – 2005 (According to an RBI advisory, anybody who had such currency notes would have to approach a bank in order to exchange them before 1 April 2014. The RBI would start withdrawing the notes after 31 March 2014. This step will apparently hit currency hoarders and counterfeiters. However, the currency notes issued before 2005 would remain legal tender. But from 1 July 2014 those wanting to exchange more than 10 pieces of 500 and 1000 rupee notes in a bank where they do not have an account will have to provide proof of residence and identity)
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2) Who will be the Chief Guest at the Republic Day Celebrations 2014 to be celebrated on 26 January 2014? - Shinzo Abe, Prime Minister of Japan (Japanese Prime Minister Shinzo Abe will pay an official visit to New Delhi from January 25-27 and will be the chief guest at this year’s Republic Day celebrations)
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3) Who was the head of RBI’s committee on strengthening monetary policy framework, which in its recommendations has suggested that the target for inflation should be set at 4% with a band of +/- 2% around it? – Urjit Patel, Deputy Governor of the RBI (This inflation target is in view of vulnerability of the Indian economy to supply/external shocks and the relatively large weight of food in Consumer Price Index (CPI))
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4) Who was selected to head the National Dairy Development Board (NDDB), who will become the first ever person from the Indian Administrative Service (IAS) to hold the position of NDDB Chairman? – T. Nanda Kumar (Nanda Kumar, currently Member of the National Disaster Management Authority (NDMA), is slated to take over from 1 March 2014. He will replace Amrita Patel who has been holding the post since 1998. Both Patel and her illustrious predecessor Verghese Kurien, who was chairman from 1965 to 1998, had dairy professional backgrounds. NDDB’s heydays were in 1970-95, when it implemented the Operation Flood programme that made India self-sufficient in milk production and end reliance on imports of milk powder and butter oil)
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5) Legendary Telugu actor Akkineni Nageswara Rao (lovingly called ANR) passed away at a private hospital in Hyderabad on 22 January 2014 at the age of 91 years. Father of Telugu superstar Nagarjuna, he founded which famous studios in Hyderabad, which helped in establishing Telugu film industry in this city? – Annapurna Studios (He always wished to stay in Andhra Pradesh as this is where his audience was. With the support of the government, he bought land and developed Annapurna Studio primarily to encourage the migration of the Telugu film industry from Chennai. ANR was awarded Dada Saheb Phalke Award in 1991 and Padma Vibhushan in 2011, which is second highest civilian award of the country)
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6) Which bank came to highlight recently for declaring an interim dividend of 9000%, which is said to be the highest in India’s banking industry? - Tamilnad Mercantile Bank – TMB (Tuticorin-based TMB took a decision to this effect at a meeting held on 18 January 2014. This dividend stands at Rs. 900 per share of Rs 10 each, for the fiscal ending March 2014. This is the second year in a row that the bank has declared such a high dividend. The bank’s board had approved a dividend of Rs 750 per share for 2008-09 and Rs 1,000 per share the following year)
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