Know about MUDRA BANK for Competitive Exams

Friends.. As you Prime Minister Narendra Modi on 8 April 2015 launched the Mudra Bank to help small entrepreneurs get loan to start a business. With much hype we read/heard in newspapers and media the word 'Mudra Bank'. But we know still many of you might be wondering what this bank is all about..as we were to be frank :). This post is for those.. Let's look at what this Mudra Bank is?

Facts you should know about MUDRA BANK

1) This Bank is another leap forth to accelerate the ‘Make in India’ process launched by Prime Minister, Narendra Modi on 25 September 2014.

2) What does MUDRA stand for? - Mudra Bank stands for Micro Units Development Refinance Agency (MUDRA). Mudra in Hindi means monetary capital.

3) Mudra is a bank that is set up solely to encourage small entrepreneurs from urban and rural regions. The initiative has been taken with an intention to bring entrepreneurs from across the country into mainland business.

4) How is Mudra Bank set up? - The bank launched by the Prime Minister, Mudra is being set up through a statutory enactment. Mudra Bill will be brought into the Parliament within 6-12 months and it will incorporate the provisions of the Micro Finance Institutions (MFI) Bill. It has been registered as a company and an NBFC under the Reserve bank of India.

5) What is the aim of MUDRA Bank? - Aim is to provide financial assistance to the "unfunded" small entrepreneurs who provide employment to a large number of people.

5) Under which Yojana Mudra Bank is set up? - Pradhan Mantri Micro Units Development Refinance Agency (MUDRA) Yojana

6) Who is the CEO of Mudra Bank? - One of the Chief General Managers of Nabard, Jiji Memon, has been appointed CEO of the institution.

7) Mudra bank aims at catering to the needs of as many as 5. 77 crore small business spread across India.

8) Mudra Bank will be set up with a corpus of Rs.20,000 crore and a credit guarantee fund of  Rs.3,000 crore. It can lend between Rs 50,000 and Rs 10 lakh to small entrepreneurs.

9) As the objective is to encourage small businessmen, the bank will not just provide monetary help but will nurture them through different stages of growth and development of businesses as Sishu, Kishor and Tarun.

10) What is Sishu? - Nascent businesses which are just starting up will be considered as Sishu businesses. Sishus loan cover will be up to  Rs.50, 000.

11) What is Kishor? - As the industries witness their initial profits they are regarded as Kishor industries. In this phase they are eligible for a loan ranging from 50, 000 to  5, 00, 000 lakh.

12) What is Tarun? - This is the final and progressive stage which if achieved by the businesses will be eligible for loan up to 10 lakh.

13) Background of setting up this Bank? - Union Finance Minister Arun Jaitley had proposed the creation of a Micro Units Development Refinance Agency (MUDRA) Bank during the presentation of Union Budget 2015-16 on 28 February 2015.

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General Knowledge for Exams: 10 April 2015

1) The first battle of Panipat took place in the year? - 1526 A.D.

2) According to the Constitution, which Fund will be under the control of the President of India? - Contingency Fund of India

3) Doddabetta Peak is located in the? - Nilgiris 

4) Mother Teresa was awarded the Nobel Peace Prize in? - 1979

5) The objective of Sangam Yojna is? - to ensure welfare of handicapped.

6) The country that shares longest border with India is? - Bangladesh

7) Chemical name of laughing gas is? - Nitrous oxide

8) Kaziranga National Park is situated in? - Assam

9) The site of Harappa is located on the bank of river? - Ravi

10) The Governor-General who abolished the practice of Sati was? - William Bentinck

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Multiple Choice Current Affairs: 10 April 2015

1) Recently, an 18-hour-old baby became India's youngest patient to undergo an open heart surgery. This surgery was performed by Fortis Escorts Heart Institute at?

(A) Delhi

(B) Chennai

(C) Mumbai

(D) Kolkata

2) Genral Muhammadu Buhari was on 31 March 2015 elected as the president of which country?

(A) Brazil

(B) Maldives

(C) Nigeria

(D) Cuba

3) Name the massive air and sea operation launched by India recently to evacuate Indian nationals from Yemen?

(A) Operation Rahat

(B) Operation Meghdoot

(C) Operation Viraat

(D) Operation Megh Rahat

4) Reserve Bank of India has recently approved the merger of ING Vysya bank with?

(A) State Bank of India

(B) Canara Bank

(C) ICICI Bank

(D) Kotak Mahindra Bank

5) Which state recently opened human milk bank named “Jeevan Dhara”?

(A) Haryana

(B) Rajasthan

(C) Kerala

(D) Tamil Nadu

6) Which state assembly on 31 March 2015 passed by a majority vote the controversial Control of Terrorism and Organised Crime Bill?

(A) Madhya Pradesh

(B) Mizoram

(C) Gujarat

(D) Punjab

7) Which country has recently developed an anti-ballistic missile system called “David’s Sling”?

(A) Saudi Arabia

(B) Russia

(C) China

(D) Israel 

8) Farida Khambata was on 1 April 2015 appointed as the first woman independent director of which company, in it's 103-year history?

(A) Reliance Industries Ltd

(B) Aditya Birla Group

(C) Jindal Steel & Power Ltd

(D) Tata Group

9) Who among the following has resigned as the president of the International Cricket Council (ICC) on 1 April 2015?

(A) Mustafa Kamal

(B) Mahbubul Anam

(C) N Sreenivasan

(D) David Richardson

10) Who recently took charge as India’s first cyber security chief under the Prime Minister’s Office (PMO)?

(A) Ram Sewak Sharma

(B) Ramesh Negi

(C) Gulshan Rai

(D) Nasim Zaidi

Answers

1) Ans. (A) Delhi

2) Ans. (C) Nigeria

3) Ans. (A) Operation Rahat

4) Ans. (D) Kotak Mahindra Bank

5) Ans. (B) Rajasthan

6) Ans. (C) Gujarat

7) Ans. (D) Israel

8) Ans. (D) Tata Group

9) Ans. (A) Mustafa Kamal

10) Ans. (C) Gulshan Rai

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Current Affairs Quiz for NICL Assistant Exam 2015

Friends.. Attempt these Current Affairs Questions…

Answer Key and winners published….

Answer Key 
1) "Let Girls Learn" campaign, an initiative to ensure adolescent girls get the education they deserve, was recently launched by which country? - USA

2) Name the Digital India initiative launched by government recently which will enable the citizens of the country to have a direct communication with the governmental bodies via Tweets and SMSes? - Twitter Samvad

3) Who was recently selected for the prestigious Saraswati Samman for the year 2014? - Veerappa Moily

4) New schemes PRASAD and SWADESH DARSHAN were recently launched by the government to promote ____ in the country? - Tourism

5) Name the solar-powered plane which started its historic 35,000-km round-the-world journey from Abu Dhabi on 9 March 2015? - Solar Impulse - 2

6) Which cricket player on 11 March 2015 became the first player to score four successive one-day international centuries, setting a new record, during World Cup 2015? - Kumar Sangakkara

7) Prime Minister Narendra Modi was the chief guest at the 47th National Day celebrations of which country on 12 March 2015? - Mauritius

8) Book entitled “Indian Parliamentary Diplomacy – Speaker’s Perspective” which was released on 19 March 2015 is authored by which former speaker of Lok Sabha? - Meira Kumar

9) Name India's Beyond Visual Range (BVR) air-to-air missile which was on 19 March 2015 successfully test fired from a Sukhoi-30 fighter aircraft? - Astra

10) Who has been recently conferred with Stockholm Water Prize 2015? - Rajendra Singh

Top Scorers of Quiz as per status at 9 PM 

Sl	Enter Your Name	Total Points	Percent
1	Tathagata Maitra	10	100.00%
2	shivmangal	10	100.00%
3	ramakant chaudhary	10	100.00%
4	kanhaiya	10	100.00%
5	Vikrant Dutt	9	90.00%
6	satish	9	90.00%
7	rohit	9	90.00%
8	prakash	9	90.00%
9	Manglesh	9	90.00%
10	KARTHICK I	9	90.00%
11	grv	9	90.00%
12	shravs	8	80.00%
13	Sai Ram	8	80.00%
14	reshmi radhakrishnan	8	80.00%
15	kampasati venkateswarlu	8	80.00%

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8th April 2015 Important Daily Current Affairs

1) India ranked 101st among 133 nations on social progress index:

--> Out of 133 countries rated on indicators of well-being such as health, water and sanitation, personal safety, access to opportunity, tolerance, inclusion, personal freedom and choice India has secured the 101th place.

--> This is lower than India’s rank, of 93, for GDP per capita income.

--> Even Nepal and Bangladesh rank higher than India on the Social Progress Index (SPI) ratings to be released globally on 8 April 2015.

-->  Norway has bagged the first rank; the U.S. is at the 16th place.

2) President appointed Dr Nasim Zaidi as chief election commissioner:

--> President Pranab Mukherjee has appointed the senior-most Election Commissioner, Dr Nasim Zaidi, as the next Chief Election Commissioner (CEC).

--> Zaidi will assume the charge of office of the chief election commissioner with effect from April 19, after the incumbent Harishankar Brahma will retire on April 18.

--> Mr. Zaidi will have a tenure up to July 2017, when he attains the age of 65.

3) Legendary Tamil writer Jayakanthan passed away:

--> Legendary Tamil writer D Jayakanthan, who charted a new course in Tamil literature with his bold and progressive works died.

--> He has written around 40 novels and 200 short stories and used his pen effectively against social injustices and economic inequality.

--> His popular novel, 'Sila Nerangalil Sila Manithargal', which was later made into a film, won him the Sahitya Akademi Award in 1972.

--> He was also a recipient of the Jnanpith Award in 2002.

4) Narendra Modi launched Mudra Bank for small firms with Rs 20,000 crore:

-->  Prime Minister Narendra Modi on 8 April 2015 launched MUDRA Bank which will provide credit of up to Rs 10 lakh to small entrepreneurs and act as a regulator for 'Micro-Finance Institutions' (MFIs).

--> The Pradhan Mantri MUDRA Yojana will be the main support system for the bank and will be the part of Small Industries Development Bank of India (SIDBI).

--> The MUDRA bank was proposed in Budget 2015-16 by Union Government with an initial corpus of 20,000 crore rupees.

--> "The initial products and schemes under this umbrella have already been created and the interventions have been named 'Shishu', 'Kishor' and 'Tarun' to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur," the Ministry said.

--> Shishu would cover loans up to Rs 50,000 while Kishor above Rs 50,000 and up to Rs 5 lakh. Tarun category will cover loans of above Rs 5 lakh and upto Rs 10 lakh.

--> MUDRA is to be set up through a statutory enactment.

--> MUDRA stands for 'Micro Units Development and Refinance Agency'. 

5) Snapdeal acquired FreeCharge:

--> Online marketplace Snapdeal on 8 April 2015 said it has acquired mobile recharge platform Freecharge.

--> The company did not disclose the financial deal, but claimed it as the largest acquisitions in the Indian consumer internet space.

--> Till date, the largest e-commerce deal in the country was acquisition of Myntra by Flipkart for $300 million deal in May 2014.

--> FreeCharge will continue to function as an independent platform and all aspects of FreeCharge’s shopping experience will remain intact.

--> FreeCharge was founded in 2010 by Kunal Shah and Sandeep Tandon.

6) New spider takes Telangana’s name:

--> Telangana now has a spider named after it — Telangana crab spider (Thomisus telanganensis).

--> Two wildlife and taxonomy researchers from the Zoology Department of Osmania University chanced upon a female of the species while they were on an expedition at Nagnur in Karimnagar district.

7) RBI notified hike in FDI cap in insurance sector to 49%:

--> Reserve Bank on 8 April 2015 notified government's decision to raise foreign direct investment (FDI) limit in the insurance sector to 49 percent.

--> "The extant FDI policy for insurance sector has since been reviewed and further liberalised. Accordingly, with immediate effect, FDI in insurance sector shall be permitted up to 49 percent subject to the revised conditions," RBI said in a notification.

8) Wisden honour for Kumar Sangakkara and Meg Lanning:

--> Sri Lanka great Kumar Sangakkara has been named as the Leading Cricketer in the World in the 2015 Wisden Cricketers’ Almanack.

--> Meanwhile Australia’s Meg Lanning has been chosen as the cricket ‘Bible’s’ inaugural Leading Woman Cricketer in the World — the first time the England-based annual has bestowed such an award in 152 editions of continuous publication dating back to 1864.

--> Sangakkara joined India’s Virender Sehwag as the only two players to be named as Wisden’s Leading Cricketer in the World for a second occasion.

--> Wisden’s Five Cricketers of the Year is an award dating back to 1889 and is generally based on a player’s performances in the preceding English season.

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Daily GK Updates- 9 April 2015

1) Which state is called the ‘Cradle of Buddhism’? - Bihar

2) Hussainsagar Lake is located at? - Hyderabad 

3) Which Mughal ruler was known as 'Zinda Pir' (Living Saint)? - Aurangzeb

4) Hygrometer is used to measure? - Humidity of the atmosphere

5) The famous Chilka Lake is situated in? - Odisha

6) The Space Commission was set up in? - June 1972

7) Naini Tal lake is situated in the State of? - Uttarakhand

8) Who is the first Indian to drive a Formula One Car? - Narayan Karthikeyan

9) Which among the following ended the French power in India? - Third Carnatic War

10) Light year is a unit of? - Distance

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Be Dedicated & committed Success will be at your feet - Prasanta Pradhan (INDIAN BANK CLERK)

Warm greeting to all Aspirants I am Prasant from Odisha a silent observer of currentaffairs4examz   from 2013. I am here presenting my success story.

I have completed my B.sc in the year 2008 with lots of struggle as I am from a BPL family I could not afford for higher study I tried for searching a job where as my friends went for MBA/MCA . I moved to our capital in the hope for getting a job. I mugged up almost every day in the advt page of newspapers for a job.

 I then joined in a coaching centre for banking Exams preparations after 15days my friend who was with me and supported at all stages left for higher study. I was totally hopeless and couldn’t decide what to do.

I attained an interview in an MNC and luckily got selected. I was almost mad with happiness at least what I needed I got in right time and most of my friends were also working there. After I joined I felt as I am in heaven looking the Hi fi of the company, but after 6 months my frustrations started with the hectic work culture & odd timing of working hours and night shifts. As a simple graduate there hardly any career growth for me. As I couldn’t leave the job hence decided to try again for bank exams.

I was clueless as from where to start what are the questions asked etc etc. and tried many exams and failed in all. In 2013 I switch over to another MNC and there my life changed completed I felt like someone is guiding my towards my passion I was Accompanied by a friend who cleared most of my doubts in reasoning and math. I regularly visit currentaffairs4examz   site for GK and computer quiz. We both appeared bank exams that year but couldn’t get in to the final. We almost lost our hopes but didn’t lose confidence and decided to give our best this time to get in. With almost 10 hours working in company and then preparing for such a tough competitive exam was really a difficult task for me. But if you are dedicated and committed to get a thing heartly you will surely win it.

On 1^st April when I checked my result I was almost broke out .I thanked GOD for his support and off course currentaffairs4examz   site for the huge contribution behind my success.

Exams I cleared:-

1-     IBPS clerk 2011  (Didn’t get interview call due to low score)

2-     SSC Stenographer 2012 (didn’t know steno)

3-     SSC CGL Tier -1 2013 (not interested due to exam cancel frequently)

4-     IBPS RRB PO 2013 (didn’t get selected due to less score)

5-     OSCB asst. manager 2013 (interview proceeding is on stay)

6-     IBPS RRB Clerk 2014 (waiting for interview , score 170)

7-     IBPS clerk 2014 (Final selection In INDIAN BANK Score 72.4 In general category)

I wish all the aspirants a bright future and THANKS again currentaffairs4examz   for your useful materials and social service.

You can also share your success stories with us at currentaffairs4examz@gmail.com

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Latest Current Affairs Questions- 8 April 2015

1) Name the freedom fighter and educationist who was on 30 March 2015 conferred the highest civilian award of the country Bharat Ratna (posthumously)?

(A) Bal Gangadhar Tilak

(B) Abdul Kalam Azad

(C) Pandit Madan Mohan Malviya

(D) Mandan Mishra

2) Who was recently conferred with Major Dhyan Chand Lifetime Achievement Award?

(A) Varinder Singh

(B) Balbir Singh Senior

(C) Nandy Singh

(D) Charles Cornelius

3) Which state on 30 March 2015 became the first state assembly in the country to launch e-Vidhan Mobile app?

(A) Himachal Pradesh

(B) Gujarat

(C) Kerala

(D) Jammu and Kashmir

4)  Which state government recently banned sale, purchase, storage and manufacturing of all forms of chewable tobacco including guktha and pan masala containing tobacco?

(A) Himachal Pradesh

(B) Kerala

(C) Delhi

(D) Maharashtra

5) Name the Fast Patrol Vessel (FPV) commissioned into Indian Coast Guard’s Eastern Fleet on 29 March 2015 along with two Interceptor Boats named C-430 and C-417?

(A) Kalvari

(B) Amrut

(C) Virat

(D) Anagh

6) President Mukherjee on 30 March 2015 presented the Padma Awards. Who among the following was not a receipient of Padma Vibhushan this year?

(A) L.K. Advani

(B) Jagadguru Swami Rambhadracharya

(C) Parkash Singh Badal

(D) Murali Manohar Joshi

7) Daniel Vettori who recently announced his retirement from International Cricket is the player from which country?

(A) Australia

(B) West Indies

(C) New Zealand

(D) South Africa

8) Which e-commerce company recently acquired majority stake in RupeePower as part of its plans to create a financial services marketplace?

(A) Snapdeal

(B) Flipkart

(C) Paytm

(D) Amazon 

9) What will be the interest rate for Sukanya Samriddhi Account, the special deposit scheme for girl child, for the financial year 2015-16 as announced by union government recently?

(A) 9 %

(B) 9.1 %

(C) 9.2 %

(D) 9.5 %

10) What will be the interest rate for Public Provident Fund for 2015-16 as announced by union government recently?

(A) 9.8 percent

(B) 8.7 percent

(C) 4 percent

(D) 9.2 percent

Answers

1) Ans. (C) Pandit Madan Mohan Malviya

2) Ans. (B) Balbir Singh Senior

3) Ans. (A) Himachal Pradesh

4) Ans. (C) Delhi

5) Ans. (D) Anagh

6) Ans. (D) Murali Manohar Joshi

7) Ans. (C) New Zealand

8) Ans. (A) Snapdeal

9) Ans. (C) 9.2 %

10) Ans. (B) 8.7 percent

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