lic aao capsule

67 Pages·2016·2.8 MB·English

LIC AAO CAPSULE -2016

Presents

Dear BA"ians,

LIC AAO CAPSULE
We bring to you most eagerly awaited to give a kick start to your preparation. We know most of you feel
energised the moment the capsule comes into your access, so here it is.

This capsule is a compilation of last 2 months worth of GK and Current Affairs i.e December and January and along with GK the till
the 10th of February covered in an exhaustive manner.

Since this is an insurance related Exam, we do not ant you to leave any stone unturned, so have covered the Insurance portion
aswell

A separate Banking related Capsule will be up this week only to add to this Blast of Knowledge.
The remaining days of February will be covered in our other weekly Tonic and Hindu review initiatives

So brace yourself to update your self and become Exam ready soon!.

Good luck!

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LIC AAO CAPSULE -2016
INSURANCE SECTOR IN NEWS
S. No News
1. LIC offered a ‘New Year gift’ to the public in the form of a limited-premium, non-linked and with-profit endowment
assurance plan ‘Jeevan Labh’. The highlight of the plan is that premium is payable for a limited period while risk is
covered for the whole policy term. The plan is available from ages 8 to 59 years with a choice of policy term of 16, 21
and 25 years and premium-paying terms of 10,15 and 16 years. The maximum age at maturity is 75 years.
Minimum basic sum assured is ₹2 lakh with maximum basic sum assured having no limit.
2. LICs New Plan Jeevan Pragati
This is a non-linked, with-profits Endowment Assurance plan. The main feature of this Jeevan Pragathi plan is the ‘sum
assured on death’ (part of death benefit) automatically increases after every five years during the term of the policy.
Key Features & Eligibility Conditions of LIC Jeevan Pragati Plan
Minimum Basic Sum Assured (payable on maturity) : Rs. 1,50,000/-
Maximum Basic Sum Assured : No Limit (Maturity Sum Assured shall be in multiple of Rs. 10,000/- only)
Minimum Policy Term : 12 years
Maximum Policy Term : 20 years
Minimum Age at entry for Life Assured : 12 years (completed)
Maximum Entry Age : 45 years (nearer birthday)
Maximum Age at Maturity for Life Assured : 65 years
Minimum Accident Benefit Sum Assured is Rs 10,000
Maximum Accident Benefit Sum Assured is an amount equal to the Basic Sum Assured subject to the maximum of Rs 1 cr.
Minimum entry age for the rider is 18 years.
3. LICs JEEVAN SHIKHAR Plan
LIC’s Jeevan Shikhar is a participating, non-linked, saving cum protection single premium plan wherein the risk cover is
ten times of Tabular Single Premium.The proposer will have an option to choose the Maturity Sum Assured. The premium
payable shall depend on the chosen amount of Maturity Sum Assured and age at entry of the life assured. The plan will be
open for sale for a maximum period of 120 days from the date of launch.
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
Minimum Entry Age : 6 years (completed)
Maximum Entry Age : 45 years (nearer birthday)
Sum Assured on Death : 10 times of tabular single premium
Minimum Maturity Sum Assured : Rs. 100,000/-
Maximum Maturity Sum Assured : No Limit (Maturity Sum Assured shall be in multiple of Rs. 20,000/- only.)
Policy Term : 15 years
Premium payment mode : Single premium only
Date of commencement of risk: In case the age at entry of the Life assured is less than 8 years, the risk under this plan will
commence from one day before the policy anniversary coinciding with or immediately following the age of 8 years.
For those aged 8 years or more at entry, risk will commence immediately from the date of acceptance of risk.
4. Insurance sector is likely to attract FDI of over Rs 12,000 crore in 2016 as more than a dozen foreign companies plan to
raise their stake in private sector insurance joint venture this year, industry body Assocham said. The investment push
has come as a result of liberalisation of foreign investment ceiling from 26 per cent to 49 per cent last year through the
passage of Insurance Laws (Amendment) Bill.
5. Private sector India First Life Insurance, a joint venture between Bank of Baroda, Andhra Bank and Legal and General of
the UK, entered into pension sector with launch of a 9 percent guaranteed retirement plan. IndiaFirst Guaranteed
Retirement Plan is a non-linked, participating, endowment, deferred pension plan. This plan is for customers who are
conscious to plan for their retirement and want to remain financially young, IndiaFirst Life Insurance Managing Director
and CEO R M Vishakha (cid:13)said.
6. Standalone health insurance company Apollo Munich announced its partnership with Axis Bank for offering bank
customers customised insurance policies.
7. Dena Bank said that it has tied up with SBI Life Insurance Company to provide Group Life Insurance coverage to its
housing loan borrowers under the 'Dena Grihaswami Suraksha Yojana'. Under the Memorandum of Understanding (MoU),
insurance cover will be given to all housing loan borrowers at a very low premium, Dena Bank said.
8. French insurer AXA has raised its holdings in Indian insurance joint ventures with Bharti Enterprises to 49 per cent.
9. AIA group said it will raise stake in the life insurance venture with Tata group to 49 per cent from the existing 26 per cent.
AIA will increase shareholding in Tata AIA Life Insurance Company, a joint venture company formed by Tata Sons and
AIA, from the current level of 26 per cent to 49 per cent through the purchase of a 23 per cent stake in the company.
10. The Insurance Regulatory and Development Authority of India (Irdai) said the existing micro insurance products will
continue to be on offer till March 31, 2016.
11. German reinsurer Munich Re would buy an additional 23.27 per cent stake in Apollo Munich Health Insurance Co from its
joint venture partner Apollo Hospitals Group India for Rs 164 crore ($24.18 million). The deal increases Munich Re's
holding in Apollo Munich to nearly 48.75 per cent, with 51.1 per cent held by Apollo Hospitals, (cid:13)and the rest by employees.
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LIC AAO CAPSULE -2016
12. Mahindra Insurance Brokers Ltd. (MIBL) has been appraised and rated at Maturity Level 3 of the People Capability
Maturity Model (People-CMM), thus becoming the first insurance broking company globally to achieve this international
benchmark. MIBL joins the league of top companies practising People-CMM such as Accenture, (cid:13)Computer Sciences
Corporation, Wipro, CMC, Mahindra Mahindra Financial Services Ltd., Tata Consultancy Services, LT Infotech, etc.
13. Government has extended RuPay card usage condition to 90 days for a claim under an in-built accident insurance cover in
case of RuPay Classic cardholders with effect from November 25, 2015. Under Pradhan Mantri Jan Dhan Yojana (PMJDY),
RuPay Debit Card, with an in-built accident insurance cover of Rs 1 lakh, is provided to (cid:13)account holders. About 16.54
crore RuPay cards have been issued so far under PMJDY.

INDIAN ECONOMY NEWS
S. No News
1. The deposits in accounts opened under the government’s flagship financial inclusion programme under Pradhan Mantri
Jan Dhan Yojana (PMJDY) have crossed the Rs. 30,000 crore mark. According to the recent updates on Jan. 20, 20.38 crore
bank accounts were opened under the PMJDY. These bank accounts had deposits of Rs. 30,638.29 crore (about $4.5
billion).
2. The World Bank will be the anchor investor in the new Railway Development Fund, which would be used to fund the
modernisation of Indian Railways, according to the Railway Minister Suresh Prabhu.
3. Pension fund regulatory body PFRDA has started using PAN instead of Aadhaar for validation of new customers who can
now be registered online under the National Pension System (NPS) scheme.
4. The World Bank approved a 1.5 billion US dollar loan for the ambitious Clean India Campaign (Swachh Bharat Mission).
The loan was granted to support the government in its efforts to ensure all citizens in rural areas have access to improved
sanitation and end the practice of open defecation by 2019.
5. International Monetary Fund (IMF) included China's Yuan into its elite reserve currency basket. Yuan's entry into the
basket takes effect from 1 October 2016.
6. Chief Economic Advisor Dr Arvind Subramanian led Committee has recommended standard rate for Goods and Services
Tax (GST) at 17 to 18 per cent. He also recommended the Revenue-neutral rate of 15 to 15.5 per cent.
7. Singapore replaced Mauritius as top source of Foreign Direct Investment (FDI) into India during April-September of
2015-16 financial year.
8. Prime Minister Narendra Modi released two commemorative coins of 125 rupees and 10 rupees, as part of the 125th birth
anniversary year celebrations of Dr. Babasaheb Bhim Rao Ambedkar.
9. Cabinet approved Rs 8,000- crore funds that will stand guarantee for loans to new ventures and also announced ‘Stand up
India’ scheme for credit facilities to SC, ST and women entrepreneurs at lower rates. While the Rs 3,000 crore MUDRA
Credit Guarantee Fund (CGF) will act as hedge against default of Rs 50,000 to Rs 10 lakh loan extended to small
entrepreneurs, the Rs 5,000 crore Stand Up India CGF will stand guarantee for Rs 10 lakh to Rs 1 crore loans to be
provided to least 2.5 lakh SC/ST and women.
10. India Post, which was among the eleven applicants to have received approval from RBI for payment banks in August, will
start its service by March 2017.
11. According to a report, India’s current account deficit may narrow to 0.5 per cent of GDP in 2016 from 0.7 per cent in 2015
owing to lower commodity prices, particularly oil.
12. The Central Board of Direct Taxes clarified that quoting of PAN will be required for transactions of an amount exceeding
Rs. 2 lakh regardless of the mode of payment.
13. The country’s foreign exchange reserves were at $350.4 billion as on January 1, 2016.

RBI IN NEWS
1. RBI received complaints about notes of Rs 1,000 denomination without the security thread being in circulation and has asked
banks not to issue them in case these are found. These notes were printed by Currency Note Press, Nashik, on the paper
(without security thread) supplied by Security Paper Mill (Hoshangabad).
2. RBI has asked the lenders to open more brick and mortar branches in villages with no banking facilities and with a population
of more than 5,000. It has asked banks to submit a roadmap on how many branches they will be opening by 31 March 2017.
3. The Reserve Bank of India (RBI) created a dedicated helpline (Email) for start-ups in India in order to offer assistance on
Forex matters to them for undertaking cross-border transactions within the ambit of the regulatory framework.
4. The Reserve Bank of India extended the deadline for exchanging pre-2005 currency notes of various denominations by
another six months to 30 June 2016.
5. India’s central bank The Reserve Bank of India has invited applications for “Payment System Innovation Awards” to encourage
innovative solutions in the field of Payment and Settlement System.
6. The Reserve Bank of India (RBI) released the final guidelines on computing interest rates on advances based on the Marginal
Cost of Funds Methodology. The guidelines will come into effect from 1 April 2016. All rupee loans sanctioned and credit limits
renewed with effect from 1 April 2016 will be priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR)
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LIC AAO CAPSULE -2016
which will be the internal benchmark for such purposes.
7. The Supreme Court held that the Reserve Bank of India (RBI) is liable to disclose information about the banks and financial
institutions for their action against the loan defaulters including industrialists under the Right to Information (RTI) Act, 2005.
8. The Reserve Bank of India has cancelled the certificate of registration of 56 non-banking finance companies (NBFCs),
including ABNL, Future Ventures India and Bajaj Finserve.
9. The Reserve Bank of India (RBI) announced the revised Priority Sector Lending (PSL) norms for Regional Rural Banks (RRBs).
In this, the PSL target was increased to 75 percent of total outstanding from the existing 60 percent. The revised target will be
effective from 1 January 2016.
10. The Reserve Bank has signed an agreement with the UK’s Prudential Regulation Authority and Financial Conduct Authority for
supervisory cooperation and exchange of information.

BANKS IN NEWS
SBI
1. It launched its wealth management offering and inaugurated 'SBI InCube' is the branch for start-ups that would offer
a dedicated branch for start-ups. advisory services to the budding entrepreneurs under one
The wealth management service is named as 'Exclusif' is roof.
targeted at the fast-growing affluent segment in the country.
2. State Bank of Travancore (SBT) has teamed up with the Kerala State Electricity Board (KSEB) to provide customers of the
state utility online facility for remittance of electricity charges.
3. The ‘MUDRA' loan for women entrepreneurs or Boutique Loans are being provided at a concessional rate of interest.
Finance for Women Entrepreneurs is a special loan scheme Loans up to Rs. 10 lakh will be provided under the scheme
under Prime Minister MUDRA Yojana – has been launched by without any collateral security. A maximum loan amount of
SBI for catering to the financial needs of women Rs. 50 lakh can be availed under the scheme.
entrepreneurs.
4. State Bank of India (SBI) to raise up to Rs 15,000 crore from 5. SBI said that it has secured a $500 million loan from
various means, including public offer and overseas issuance Korean EXIM Bank to help fund companies from the East
of shares, in the next 14 months i.e. by March 2017. The fund Asian nation setting up units in India.
raised will help the bank to meet global risk norms, Basel III,
which will kick in from March 2019.
6. SBI is planning to monetise non-core assets and list some of 7. SBI has raised Rs4,000 crore by issuing tier-II bonds on
its subsidiaries to meet capital needs as well as global risk private placement basis under the Basel-III norms.
norms, Basel III, which will start from March 2019.

ICICI Bank
1. The private sector lender, ICICI Bank which has entered into a tie-up with IRCTC, said the ‘novelty’ of this facility is that
customers of any bank can use this service. This is the first time any bank is offering railway tickets for sale from its
website, that too for customers of all banks.
2. ICICI Bank will partner FINO PayTech to foray into the The ICICI Group, with about 16 per cent stake in FINO
payments bank space. Paytech, a business correspondent, is the largest domestic
shareholder.

BANKS IN NEWS
S.No Name of Bank News/Schemes Other Points
1. Dharwad HQ Set up a separate cell for monitoring progress Chairman: Ashok Reddy
Karnataka Vikas under all the government-sponsored
Grameen Bank (KVGB) schemes.
2. Iran’s leading banks will open branches in India to energise commercial ties between New Delhi and Tehran.
3. Andhra Bank Launched Immediate Payment Service (IMPS) The service makes payments possible within
across all its branches in association with the fraction of seconds with all the standards and
National Payments Corporation of India integrity maintained for security.
(NPCI).
4.. Axis Bank Launched a 'display variant' debit card which The card has an embedded EMV chip, a
does away with the hassles of generating one display screen and a touch-sensitive button
time password (OTP) over SMS while which helps generating the OTP on the card
transacting. itself.
5. Tata Sons Ltd and Industrial and Commercial Bank of China Ltd (ICBC) have formed a long-term partnership, under
which ICBC will become a strategic banking partner to the Tata group.
6. Quickrupee, a portal to help SMEs get bank loans founded by Jyotsna and HD Sheriff. It has tied up with 16 bankers (mostly
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LIC AAO CAPSULE -2016
private banks and NBFCs) and will sign more banks in the coming time.
7. The Department of Posts (DoP) plans to open 1,000 ATMs and bring all 25,000 departmental post offices under core
banking system by March this year.
8. The National Payments Corporation of India (NPCI) has collaborated with CSC e-Governance Services India to launch
Aadhaar Enabled Payment System (AePS) at locations where CSC eGov has been acting as Business Correspondent of
banks. This system facilitates disbursement of government entitlements like NREGA, social security pension, Handicapped
Old Age Pension etc of any Central or State Government bodies, using Aadhaar and authentication thereof as supported by
UIDAI
9. The government said the Credit Guarantee Fund for loans disbursed under the Pradhan Mantri Micro Units Development
Refinance Agency (MUDRA) Yojana would be able to guarantee loans of over Rs.one lakh crore as it gave its approval to
convert MUDRA into a bank. The government expects the fund to be able to guarantee loans worth more than Rs.one lakh
crore over the next three years of micro and small units

NEW APPOINTMENTS(INDIA)
S. No Newly Appointed Post
1. Mamta Binani President of the Institute of Company Secretaries of India (ICSI).
2. Amitabh Bachchan & Priyanka Chopra Apointed as 'Incredible India' brand ambassadors.
3. Noted environmentalist Ravi Chellam Executive Director of Greenpeace India. Note: He succeeds Samit Aich.
4. Atulesh Jindal Chairman of Central Board of Direct Taxes (CBDT). Jindal will succeed A K Jain.
5. Amit Shah President of BJP Party.
6. Alice Vaidyan Chairman and Managing Director of General Insurance Corporation of India
7. Gurdeep Singh Chairman and Managing Director (CMD) of NTPC Ltd
8. Justice Sanjay Mishra Lokayukta of Uttar Pradesh.
9. KK Jalan Secretary, Ministry of Micro, Small and Medium Enterprises (MSME)
10. Shobhana K Pattanayak Secretary, Department of Agriculture, Cooperation and Farmers Welfare
11. Avinash K Srivastava Secretary, Ministry of Food Processing Industries
12. Vinod Agrawal Secretary, Department of Empowerment of Persons with Disabilities, Ministry of
Social Justice and Empowerment
13. Shyam S Agarwal Secretary, Ministry of Tribal Affairs
14. JS Deepak Telecom Secretary
15. Muktesh Kumar Pardeshi India’s Ambassador to Mexico.
16. Kamlesh Kumar Pandey Chief Commissioner for Persons with Disabilities (CCPD)
17. Datta Padsalgikar Commissioner of Police of Mumbai
18. Ashish Saraf VP - Industry Development, Strategic Partnerships and Offsets in Airbus Group.
19. Binny Bansal Chief Executive Officer (CEO), Flipkart
20. R Shivakumar Chairman of Assocham Karnataka Regional Council
21. Dinesh Sharma 12-member board of directors in Asian Infrastructure Investment Bank (AIIB)
22. Rostow Ravanan CEO and Managing Director,Mindtree
23. Guenter Butschek Chief Executive Officer and Managing Director, Tata Motors' Group.
24. D.K.Hota CMD of Defence PSU BEML Ltd
25. Shekhar Saran Chairman-cum-Managing Director of Central Mine Planning & Design Institute
Ltd.
26. Abidali Neemuchwala CEO, Wipro
27. Atul Sobti Chairman and Managing Director (CMD),Bharat Heavy Electricals Limited (BHEL)
28. Akshay Kothari Country Manager for India, LinkedIn. Note: Kothari replaces Nishant Rao
29. Sailesh Registrar General and Census Commissioner.
30. Amitabh Kant Chief Executive Officer (CEO) of NITI Aayog.
31. Devender Kumar Sikri Chairman of fair-trade regulator Competition Commission of India (CCI)
32. Kunal Shah Chairman, Industry body Internet and Mobile Association of India (IAMAI)
33. AB Khare Chairman and Managing Director ,Madras Fertilzers
34. Dr Achyuta Samanta General President of the 105th Indian Science Congress Association (ISCA)
35. Satyanarayan Gangaram Pitroda Technology Advisor to the Odisha Government
36. Pavan Kapoor India's ambassador to Israel
37. Bhanumurthy B M Chief Operating Officer (COO) and President, Wipro
38. Dr Urjit R Patel Deputy Governor of Reserve Bank of India (RBI), for a second three-year term.
39. Pawan Kumar Agarwal Chief Executive Officer (CEO) of Food Safety and Standards Authority of India
(FSSAI).
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LIC AAO CAPSULE -2016
40. Gautam H Bambawale High Commissioner of India to the Islamic Republic of Pakistan
41. Farhan Akhtar Amway India’s Brand Ambassador to promote Nutrilite range of the products
42. Karan Adani CEO of Adani Ports and SEZ (APSEZ)
43. Dr Gyanendra D Bandgaiyan Director General of the National Centre for Good Governance
44. Jeff Williams Chief Operating Officer (COO) of Apple Inc
45. R.K. Mathur Chief Information Commissioner (CIC)
46. Reva Khetrapal Delhi's new Lokayukta
47. Lalit Modi President of the Rajasthan Cricket Association (RCA)
48. Ahmad Javed Ambassador to Saudi Arabia
49. Prakash Kumar Singh Chairman, SAIL
50. Kapil Chopra Chairman of World Travel & Tourism Council
51. Udai Kumar MD & CEO, Metropolitan Stock Exchange (formerly MCX Stock Exchange)
52. Sanjeev Sharma Managing Director,ABB India Ltd
53. Justice Tirath Singh (TS) Thakur 43rd Chief Justice of India (CJI)
54. Indian-American Dr Vijay M Rao Chairperson, Radiological Society of North America (RSNA) Board of Directors
55. Vijay Kumar Chaudhary Speaker of the Bihar Legislative Assembly.
56. Kaher Kazem General Motors(India) President and Managing Director of India operations,
57. Sachin Tendulkar Brand Ambassador for the disease awareness campaign 'Changing Diabetes'
58. Pavan Kapoor India’ ambassador Israel, where he will succeed Jaideep Sarkar.
59. Lieutenant General Suresh Sharma 24th Director General Border Roads (DGBR)
60. RK Singh Bhadauria Deputy Chief of the Air Staff

NEW APPOINTMENTS (WORLD)
S. No Newly Appointed Post
1. Pavel Filip Prime Minister, Moldova
2. Marcelo Rebelo de Sousa President of Portugal
3. Leslie Berland Chief Marketing Officer (CMO) of Twitter In
4. Tsai Ing-wen Taiwan President
5. Tamal Chaudhuri General Manager, for HaloSource Inc.’s India operations
6. Mary Barra Chairman of General Motors (GM) Board of Directors
7. Filippo Grandi UN High Commissioner for Refugees
8. Sanjay Pradhan Head, The Open Government Partnership (OGP)
9. Pravin Gordhan South Africa’s Finance Minister
10. Sir Venkatraman Ramakrishnan Presidency of the Royal Society in London.
11. Paul Kagame Rwanda President
12. James Michel Seychelles President
13. Louise Richardson First woman vice-chancellor in the 900-year history of the University of Oxford.
14. Paul Kaba Thieba Prime Minister of Burkina Faso
15. Giorgi Kvirikashvili Prime Minister of Georgia

NATION IN NEWS (INDIA)
S. No News
1. PM Narendra Modi along with the President of France François Hollande laid the foundation stone of the International Solar
Alliance (ISA) headquarters in National Institute of Solar Energy (NISE) in Gwalpahari, Gurgaon.
2. India has overtaken Thailand as the world’s largest rice exporter in the year 2015 by shipping (exporting) 10.23 million
tonnes of rice.
3. Union Railway Minister Suresh Prabhakar Prabhu inaugurated implementation of E-enabled Track Management System
(TMS) and Mobile Application of TMS on Indian Railway at Rail Bhawan in New Delhi. These initiatives will bring efficiency
and effectiveness in management practices.
4. Union Ministry of New and Renewable Energy has announced that India’s grid-connected solar power generation capacity
has crossed the 5,000 Mega Watt (MW) mark. ii. Presently, Government has set an ambitious plan to achieve 175 Giga Watt
(GW) of power generation capacity from renewable sources by 2022. It includes 100 GW from solar and 60 GW from wind.
5. The World Bank has decided to extend an assistance of 20 million US dollar to help reconstruct the Indira Gandhi Zoological
Park (IGZP), which got devastated during cyclone Hudhud in October 2014, in Visakhapatnam.
6. India-Nepal Bus Service resumed after a gap of 27 years. The service was suspended 27 years ago in the wake of the Indo-
Nepal Trade and Transit Treaty. The service runs between Kanchanpur in Nepal, which is close to Banbasa border in
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LIC AAO CAPSULE -2016
Champavat district of Uttarakhand, and Anand Vihar ISBT in Delhi.
7. Sterlite Grid set a new benchmark by commissioning the Transmission Project to Rajasthan Atomic Power Project (RAPP)
ahead of schedule under the Tariff Based Competitive Bidding (TBCB) incentive regime. RAPP is the first power
transmission line to be been commissioned ahead of schedule since the implementation of TBCB scheme.
8. In order to avoid duplication of work and to improve efficiency, the government merged the Ministry of Overseas Indian
Affairs (MOIA) with the Ministry of External Affairs.
9. As a major initiative towards fast track implementation of Namami Gange Programme the first company of Ganga Task force
Battalion was deployed at Garhmukteshwar.
10. The Union Government allowed the conduct of the traditional bull-taming sports, Jallikattu, in Tamil Nadu. The ban on the
sports was lifted few days before the traditional harvest festival will begin in Tamil Nadu.
11. The Ministry of Petroleum and Natural Gas has launched an online initiative to seek suggestions from LPG consumers across
the country, which will help in providing efficient and friendly service. Two online discussion forums : Citizen-Friendly
Services and Increasing LPG Coverage in the Country were launched and are available on myGov.in and mylpg.in
12. President Pranab Mukherjee promulgated the Enemy Property (Amendment and Validation) Ordinance, 2016 to make
amendments to the Enemy Property Act, 1968. These amendments will help is dealing with the loopholes of the Enemy
Property Act, 1968 and ensure that the enemy properties that have been vested in the Custodian remain so and they do not
revert back to the enemy subject or enemy firm.
13. The Union Minister of Human Resource Development Zubin Irani launched the 6th All India Survey on Higher Education
(AISHE) in New Delhi. The survey covers all the Higher Education (HE) institutions of the country including Universities,
Colleges and Stand-Alone institutions from 2010-11 to 2014-15. The major findings of the AISHE 2014-15 included increase
in overall enrolment from 27.5 million in 2010-11 to 33.3 million in 2014-15.
14. Rajya Sabha passed the Juvenile Justice (Care and Protection of Children) Bill, 2015. The Bill permits juveniles between the
ages of 16-18 years to be tried as adults for heinous offences. Also, any 16-18 year old, who commits a lesser (serious)
offence, may be tried as an adult only if he is apprehended after the age of 21 years.
15. Cabinet Committee on Economic Affairs (CCEA) gave its approval for implementation of an umbrella scheme for integrated
development and management of fisheries. The scheme will be implemented at an outlay of 3000 crore rupees, for a period
of five years.
16. Union Government has announced to link LPG subsidy to income of consumers in order to ensure that the subsidy benefits
go to the targeted group. Henceforth, the LPG subsidy will not be available to LPG consumers if the consumer or his/her
spouse has taxable income of more than ten lakh rupees.
17. Union Ministry of Women and Child Development (WCD) has introduced e-office, an initiative which will help provide
efficient services to the people by digitizing more than 12,000 files. It was formally launched by WCD Minister Maneka
Sanjay Gandhi in New Delhi on the lines with the spirit of Good Governance initiative of Union Government.
18. The Cabinet approved the formation of joint venture companies with various state governments to mobilise resources for
undertaking rail infrastructure projects. The initial paid-up capital of the Ministry of Railways will be limited to Rs. 50 crore
for each state. The joint venture companies would be formed with equity participation from the Ministry of Railways and
the state governments concerned. Each joint venture will have an initial paid-up capital of Rs. 100 crore.
19. As per new Forest report India’s forest cover increased by 5,081 sq. km between 2013 and 2015. The forest cover is
7,01,673 sq. km, which is 21.34% of the geographical area of the country. Natural forests contribute around 95 per cent of
the total forest cover of the country.
20. India and United Kingdom launched a joint initiative 2016: UK-INDIA Year of Education and Research in New Delhi.
21. India and France launched the International Solar Alliance in Paris. The alliance was launched jointly by PM Narendra Modi
and French President Francois Hollande during the United Nations climate change conference (COP21).
22. The Union Cabinet approved setting up of six new Indian Institutes of Technology (IITs) in Andhra Pradesh, Chhatisgarh,
Goa, Jammu, Kerala and Karnataka.
23. India launched the Indian Long Term Ecological Observatories (I-LTEO) programme to scientifically monitor eight different
biomes (natural landscapes) across the country. The initiative was launched on the sidelines of the Conference of Parties-21
(COP-21) of UNFCCC in Paris.
24. Gurib-Fakim, the first woman President of Mauritius, who is a distinguished scientist, was on a three-day visit to India.
25. India 2nd Largest Fruit Producer In World After China.
26. India and Syria held wide-ranging talks, focusing largely on the situation in the war-torn country and the UN-backed peace
process aimed at ending the strife that has claimed lives of over 2.5 lakh people in the last five years. Syrian deputy prime
minister Walid al-Muallem, during the talks with external affairs minister Sushma Swaraj, appreciated India for its support
to the people of Syria and its position in finding a solution to the civil war.

INTERNATIONAL NEWS
S. No Country/Continent in Related to
News
1. Somalia Agreed on Election Model outlined by the Mogadishu Declaration. The declaration calls for the
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LIC AAO CAPSULE -2016
electoral process in Somalia to establish a new, bicameral Federal Parliament in 2016, based on
inclusivity and representation.
2. Yale School of Indra Nooyi becomes ‘most generous graduate’ of Yale School of Management as she gifted an
Management undisclosed amount to her alma mater, becoming the school’s biggest alumni donor.
3. Liberia Becomes Ebola epidemic free according to World Health Organisation (WHO).
4. China China-backed Asian Infrastructure Investment Bank (AIIB), in which India and 56 countries
have joined as founding members, was formally opened by Chinese President Xi Jinping.
5. France French President Francois Hollande has declared “a state of economic emergency” and says it’s
time to redefine France’s economic and social model.
6. Sri Lanks Sri Lankan parliament began a process to formulate a new constitution with Prime Minister
Ranil Wickremesinghe presenting a resolution to set up Constitutional Assembly of all members
for the purpose.
7. Nepal Elected to the UNICEF executive board, representing the group of Asia-Pacific countries for the
term 2016-2018.
8. Iraq Miss Iraq beauty pageant held for the first time since 1972. Note: Shaymaa Qasim Abdelrahman
was crowned Miss Iraq.
9. Nepal Government of Nepal has decided to amend the Constitution to address two key demands of
agitating Madhesis regarding proportional representation and constituency delimitation.
10. Philippines The first Asian country to approve the sale of the world's first-ever dengue vaccine, Dengvaxia.
11. Zimbabwe Zimbabwe's Finance Minister Patrick Chinamasa announced that the country has planned to
adopt the Chinese Yuan as legal tender.
12. Japan Prime Minister Shinzo Abe’s cabinet approved 5.05 trillion yen ($41.8 billion) in defence
spending for the next fiscal year starting in April, with the focus on strengthening protection of a
string of southern islands that stretch from Japan’s mainland to waters near Taiwan.
13. Bangladesh Bangladesh's state-run Atomic Energy Commission signed a deal with Russia to set up two
nuclear power plants, each with 1,200 MW capacity, an investment totalling $12.65 billion.
14. Pakistan The World Bank approved an additional financial assistance to Pakistan of $35 million to
support improved management, planning and development of water resources in the Indus
River Basin in Pakistan.
15. China China’s National People's Congress Standing Committee, country’s top law making body gave its
approval to amending One Couple, One Child Policy. The amended policy will lift the restrictions
on couples from having only one child.
16. Republic of Guinea The World Health Organization (WHO) declared the end of Ebola virus transmission in the
Republic of Guinea.
17. University of South The University of South Florida (USF) announced a postgraduate fellowship in the name of
Florida (USF) former president Dr. APJ Abdul Kalam to support accomplished and talented Indian students
looking to study abroad.
18. Saudi Arabia Launched Islamic Military Coalition, a new military alliance of 34 nations mainly Muslim nations
to fight terrorism.
19. Iran International Atomic Energy Agency (IAEA) has ended its 12-year investigation into concerns
that Iran might be developing nuclear weapons. IAEA Board of Governors passed a resolution
ending its long-running inquiry against Iran but allowing inspectors to continue to police the
country’s nuclear programme.
20. Saudi Arabia Saudi Arabian voters voted to elect women in at least 18 municipal council seats. This was a
historic local elections in Saudi Arabia in which women were allowed to vote and run for office
for the first time.
21. Turkmenistan Construction work on the TAPI (Turkmenistan-Afghanistan-Pakistan-India) Gas Pipeline project
started in Turkmenistan.
22. Myanmar Launched its first UNSECO Biosphere Reserve Inle Lake in Shan state. The Inle Lake was
designated as UNESCO Biosphere reserve in Paris in June 2015.
23. Luxembourg Became the 10th country to ratify the Articles of Agreement (AoA) that will lay the legal
framework for the China-initiated Asian Infrastructure Investment Bank (AIIB).
24. New Zealand Formally become a member of the Asian Infrastructure Investment Bank (AIIB)
25. Brazil Economy contracted by 1.7 percent during July-September 2015 compared to April-June period
in 2015. It was Brazil's third consecutive quarter of contraction starting from January 2015 and
thus, making it the country's longest recession since the 1930s.
26. Gambia Gambia’s President has declared the country an Islamic republic, saying he decided this because
Islam is the religion of the majority of its citizens.
27. China Granted a license for production of first manned two seater electric aircraft RX1E known as
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LIC AAO CAPSULE -2016
RX1E by the Civil Aviation Administration of China.
It has been designed by Shenyang Aerospace University and Liaoning General Aviation Academy
in northeastern Liaoning province.
28. Australia Federal Parliament has passed Australian Citizenship Amendment (Allegiance to Australia) Bill,
2015 to strip citizenship of convicted persons on terrorism charges.
29. Pakistan & Sri Lanka Pakistani Prime Minister Nawaz sharif was on a three-day state visit to Sri Lanka in January
2016. In Colombo he met Sri Lankan president Maithripala Sirisena and his Sri Lankan
counterpart Ranil Wickremesinghe and discussed bilateral issues. Pakistan sealed a landmark
deal to sell JF-17 Thunder fighter jets to Sri Lanka as the two countries signed eight agreements
to boost cooperation in areas like trade promotion, and science and technology besides
combating money laundering and terror financing.
30. China The top organ of China’s Parliament, National People’s Congress Standing Committee adopted
the country first counter-terrorism law
31. Beijing Issued its first-ever red alert on air pollution ordering schools to close due to hazardous air
quality. Red alert is the highest possible state of caution.
32. China China’s country code domain ‘.cn’ has become the worlds most commonly used in the internet
with 16.36 million users, surpassing Germany’s ‘.de’ domain.
33. Spain Ruling conservative People’s Party (PP) of Spain led Prime Minister Mariano Rajoy won the
2015 general election of the country.

OBITUARIES (NATIONAL/INTERNATIONAL)
S. No Person Died Profession/Famous In?
1. Aroon Tikekar Senior journalist and scholar
2. Mrinalini Sarabhai Eminent danseuse & wife of the late Dr Vikram Sarabhai, father of
India’s space programme.
3. Ettore Scola Italian director
4. Nirmala Gajwani Former Deputy Speaker of Gujarat Assembly and Social Activist
5. Pandit Shankar Ghosh Eminent Tabla player
6. Kalpana National award-winning actress
7. Marvin Minsky The pioneer of artificial intelligence
8. Abe Vigoda Actor known for his work in The Godfather
9. General Kotikalapudi Venkata Krishna Rao Former Army Chief
10. Rajesh Vivek Upadhyay Bollywood actor
11. Alan Rickman Actor
12. Ventrapragada Rama Rao Veteran BJP leader and former Sikkim Governor
13. Lakshman Rao Mohite alias Geethapriya Renowned film-maker
14. Yasutaro Koide The world’s oldest man at the age of 112
15. Glenn Frey Afounding member and guitarist of the Eagles
16. Sarosh Homi Kapadia Ex-Chief Justice of India
17. Mufti Mohammad Sayeed Jammu and Kashmir Ex-Chief Minister
18. Labhshankar Thakar Noted Gujarati writer and poet
19. Ravindra Kalia Noted Hindi writer and journalist
20. David Bowie British singer
21. Maria Teresa de Filippis First woman to compete in a world championship F1 Grand Prix
22. Sadhana Yesteryear Hindi film actress
23. V S Malimath Former Chief Justice of Karnataka and Kerala High Courts Justice
24. Haskell Wexler Oscar-winning cinematographer
25. George Clayton Johnson Popular science-fiction writer
26. Ian Fraser Lemmy Kilmister Founding member and singer in the British band Motorhead
27. Subir Sen Veteran singer
28. General Om Prakash Malhotra. Former Punjab Governor and ex-Chief of Army
29. Peter Dickinson British Novelist
30. Chatla Sriramulu Noted writer and theatre artiste
31. Sharad Anantrao Joshi Renowned Agro-Economist and Veteran Leader of farmers
32. Ustad Sabri Khan Renowned sarangi player
33. Eldar Ryazanov Russian film Director
34. MAM Ramaswamy Industrialist, Founder of Chettinad Group, Former parliamentarian
9 www.bankersadda.com | www.sscadda.com | www.careerpower.in | www.careeradda.co.in
LIC AAO CAPSULE -2016
35. Anil Ganguly Noted filmmaker
36. Haskell Wexler Influential Oscar-winning cinematrographer
37.

AWARDS
S. No Awards Winner
1. Technical Achievement Award from Oscar for his contribution Rahul Thakkar
to cinema
2. World's best hotel at the Travellers' Choice award Umaid Bhawan Palace in Jodhpur, Rajasthan
3. National Award for e-Governance 2015-16 for its Universal The Employees’ Provident Fund Organisation
Account Number programme
4. Padma Vibhushan Awards Actor Rajinikanth, Media baron Ramoji Rao, former J&K
Governor Jagmohan and spiritual guru Sri Sri Ravi
Shankar
5. Yash Chopra Memorial Award Veteran Bollywood actress Rekha
6. Honoured with the highest civilian honour, the Order of Sajeev Koshy
Australia.
7. Honoured with the Order of Australia Chennupati Jagadish and Jay Chandra
8. 8th Human Rights Award by Amnesty International Germany. Henri Tiphagne
9. Allan Border Medal for 2016 Australian batsman David Warner
10. 2016 William E. Colby Award. Nisid Hajari for his book, Midnight’s Furies: The Deadly
Legacy of India’s Partition
11. Prince Mahidol Award 2015 Professor Morton Mower and Sir Michael Marmot
12. K Veeramani Award for Social Justice 2015 Bihar Chief Minister Nitish Kumar
13. V Shantaram Lifetime Achievement Award Veteran wildlife filmmaker Naresh Bedi
14. 2015 Harikrishna Devsare Baalsahitya Award Balkrishna Garg
15. Ballon d'Or award for world's best player for fifth time Lionel Messi
16. Neerja Bhanot Award Subhashini Vasanth
17. Lorenzo Natali Media Prize for 2015 in Asia and the Pacific Delhi-based writer Ankita Anand
mateur category
18. Prof MV Pylee Award for the Distinguished Academician of Dr Jancy James, the first woman Vice Chancellor of
India. Kerala
19. Received a Knighthood from Queen Elizabeth II Harpal Singh Kumar, Indian-origin cancer research
expert
20. 2015 eASIA Award under Trade Facilitation category Drug Authentication and Verification Application
(DAVA) project of The Department of Commerce
21. 2015 Sangita Kalanidhi Award south Indian classical vocalists Sanjay Subrahmanyam
22. Britain's Costa Book Awards 2015 British writer Kate Atkinson
23. The Banker magazine's Global and Asia-Pacific Central Bank Reserve Bank of India (RBI) Governor Raghuram Rajan
Governor of the Year 2015
24. Prime Minister’s Trophy for being the ‘Best Performing Tata Steel
Integrated Steel Plant’ in the country for the performance year
2013 – 2014.
25. Miss Universe 2015 Miss Philippines Pia Alonzo Wurtzbach
26. Miss World 2015 Miss Spain Mireia Lalaguna Royo
27. National Medal of Science 2015 of United States (US) Indian American professor Rakesh K Jain
28. 2015 Col. CK Nayudu Lifetime Achievement Award Sayeed Kirmani
29. 'Export Quality Excellence' award for the 11th time in a row. Pump manufacturing major CRI Pumps
30. Globe Soccer Awards 2015 conferred •Best Media Attraction in Football - F.C. Barcelona
The Globe Soccer on 27 December 2015 presented the sixth •Best Coach of the Year - Marc Wilmots
edition of Globe Soccer Awards 2015 to the winners at a •Best Agent of the Year - Jorge Mendes
ceremony held in Dubai, UAE. •Best Referee of the Year - Ravshan Irmatov
•Best Player of the Year - Lionel Messi •Best Academy of the Year – Benfica
•Best President of the Year - Josep Maria Bartomeu  Best Club of the Year - F.C. Barcelona
31. 51st Jnanpith award Eminent Gujarati litterateur Raghuveer Chaudhary
32. Garwood Award for ‘Outstanding Global Leader in Open President of India, Shri Pranab Mukherjee
Innovation’ from UC Berkeley-Haas School of Business
33. 2016 Genesis Prize Laureate for his accomplishments as a Renowned Israeli-US violinist Itzhak Perlman
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