General Affairs
Which public-sector bank on 12 February 2016 announced net loss of Rs. 3,342 crore for quarter ended December 2015, which is the largest quarterly loss by a bank in the history of Indian banking industry?
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Bank of Baroda (BOB)
Bank of Baroda (BOB) posted a quarterly net loss of Rs. 3,342 crore for the third quarter of 2015-16 (Sep-Dec), as compared to a profit of Rs. 333 crore in the same period of last year.
– This was the largest loss by a bank in the Indian banking history. The loss was primarily driven by a 463% increase in provisions towards bad loans which rose from Rs. 1,149 crore in the previous quarter to Rs. 6,474 crore.
– It is worth mentioning that the RBI had asked PSU banks to treat some troubled accounts as official bad loans and make adequate provisions.
– Among the worst performers, IDBI Bank made a loss of Rs. 2,184 crore, IOB Rs. 1,425 crore and Bank of India Rs. 1,505 crore.
Bank of Baroda (BOB)
Bank of Baroda (BOB) posted a quarterly net loss of Rs. 3,342 crore for the third quarter of 2015-16 (Sep-Dec), as compared to a profit of Rs. 333 crore in the same period of last year.
– This was the largest loss by a bank in the Indian banking history. The loss was primarily driven by a 463% increase in provisions towards bad loans which rose from Rs. 1,149 crore in the previous quarter to Rs. 6,474 crore.
– It is worth mentioning that the RBI had asked PSU banks to treat some troubled accounts as official bad loans and make adequate provisions.
– Among the worst performers, IDBI Bank made a loss of Rs. 2,184 crore, IOB Rs. 1,425 crore and Bank of India Rs. 1,505 crore.
ONV Kurup, who passed away on 13 February 2016, was a celebrated poet and lyricist associated with which language?
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Malayalam
Ottaplakkal Neelakandan Velu Kurup (ONV Kurup) was one of the most celebrated and respected poet of Malayalam language. His influential presence existed for nearly seven decades in Kerala’s cultural landscape.
– As a poet and public figure, he was associated with the political and cultural Left all through his life. He also contested unsuccessfully as the Left Front candidate from the Thiruvananthapuram Lok Sabha seat in 1989.
– He received numerous awards for his poetry, including the Sahitya Akademi prize (1975) and the Jnanpith Award (2007), and a dozen Kerala state film awards for lyrics. He also received the Padma Shri (1998) and Padma Vibhushan (2011), the fourth and second highest civilian honours from the Government of India.
– He passed away on 13 February in Thiruvananthapuram at the age of 84.
Malayalam
Ottaplakkal Neelakandan Velu Kurup (ONV Kurup) was one of the most celebrated and respected poet of Malayalam language. His influential presence existed for nearly seven decades in Kerala’s cultural landscape.
– As a poet and public figure, he was associated with the political and cultural Left all through his life. He also contested unsuccessfully as the Left Front candidate from the Thiruvananthapuram Lok Sabha seat in 1989.
– He received numerous awards for his poetry, including the Sahitya Akademi prize (1975) and the Jnanpith Award (2007), and a dozen Kerala state film awards for lyrics. He also received the Padma Shri (1998) and Padma Vibhushan (2011), the fourth and second highest civilian honours from the Government of India.
– He passed away on 13 February in Thiruvananthapuram at the age of 84.
What is the name of the President of the Jawaharlal Nehru University Student’s Union (JNUSU) who was arrested on charges of sedition on 12 February 2016 resulting in a huge showdown between the Union Govt. and the Opposition?
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Kanhaiya Kumar
Kanhaiya Kumar, the president of Jawaharlal Nehru University Student’s Union (JNUSU) was arrested by the police on 12 February 2016. He was arrested on charges of sedition one day after a controversial event organized on the campus against the hanging of Afzal Guru.
– The arrest of Kanhaiya Kumar upped the Opposition ante over the BJP-led National Democratic Alliance (NDA) with a huge opposition show-down held on 13 February.
– The Opposition claimed that the government was suppressing the voices of the people. This showdown was attended by senior opposition leaders including Congress vice president Rahul Gandhi.
Kanhaiya Kumar
Kanhaiya Kumar, the president of Jawaharlal Nehru University Student’s Union (JNUSU) was arrested by the police on 12 February 2016. He was arrested on charges of sedition one day after a controversial event organized on the campus against the hanging of Afzal Guru.
– The arrest of Kanhaiya Kumar upped the Opposition ante over the BJP-led National Democratic Alliance (NDA) with a huge opposition show-down held on 13 February.
– The Opposition claimed that the government was suppressing the voices of the people. This showdown was attended by senior opposition leaders including Congress vice president Rahul Gandhi.
An Associate Justice of the US Supreme Court died on 13 February 2016. What was the name of this judge who served in the US Supreme Court for almost 30 years and whose death set up a major political showdown between President Barack Obama and the Republican-controlled Senate?
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Justice Antonin Scalia
78-year old Justice Antonin Scalia passed away at the Cibolo Creek Ranch resort in West Texas on 13 February 2016. He served on the nation’s highest court for nearly 30 years. He was appointed to the Court by President Ronald Reagan in 1986.
– Scalia had a “larger-than-life presence” in the US judiciary and was known for his strident conservative views and theatrical flair in the courtroom. But his death setup a big showdown between President Obama and the Republican-controlled Senate, over who will replace him just months before a presidential election.
– Justice Scalia was the longest-serving judge in the Court. It is worth mentioning that once appointed, the judges in the US Supreme Court have life tenure unless they resign, retire, take senior status, or are removed after impeachment (though no justice has ever been removed).
– Scalia was one of the eight associate justices in the US Supreme Court apart from Chief Justice John Roberts.
Justice Antonin Scalia
78-year old Justice Antonin Scalia passed away at the Cibolo Creek Ranch resort in West Texas on 13 February 2016. He served on the nation’s highest court for nearly 30 years. He was appointed to the Court by President Ronald Reagan in 1986.
– Scalia had a “larger-than-life presence” in the US judiciary and was known for his strident conservative views and theatrical flair in the courtroom. But his death setup a big showdown between President Obama and the Republican-controlled Senate, over who will replace him just months before a presidential election.
– Justice Scalia was the longest-serving judge in the Court. It is worth mentioning that once appointed, the judges in the US Supreme Court have life tenure unless they resign, retire, take senior status, or are removed after impeachment (though no justice has ever been removed).
– Scalia was one of the eight associate justices in the US Supreme Court apart from Chief Justice John Roberts.
Which team won the ICC Under-19 World Cup 2016 by defeating India in the finals on 14 February 2016?
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West Indies
West Indies shocked favourites India in the finals of 2016 ICC Under-19 World Cup that was played between the two countries on 14 February 2016 at Dhaka (Bangladesh).
– Batting first, the Indian team was bowled-out for a paltry 145 runs off 45.1 overs. West Indies successfully chased the winning target in 49.3 overs for the loss of 5 wickets. It is worth mentioning that India was the only undefeated team in the tournament.
– This was the maiden ICC U-19 World Cup title for West Indies.
– The ICC Under-19 Cricket World Cup is an international cricket tournament contested by national under-19 teams. First contested in 1988, as the Youth World Cup, it was not staged again until 1998. Since then, the World Cup has been held as a biennial event, organised by the International Cricket Council (ICC). India and Australia have been the most successful teams in this tournament, having won the tournament thrice each. Pakistan has won the tournament twice, while South Africa, England and now the West Indies have won it once.
West Indies
West Indies shocked favourites India in the finals of 2016 ICC Under-19 World Cup that was played between the two countries on 14 February 2016 at Dhaka (Bangladesh).
– Batting first, the Indian team was bowled-out for a paltry 145 runs off 45.1 overs. West Indies successfully chased the winning target in 49.3 overs for the loss of 5 wickets. It is worth mentioning that India was the only undefeated team in the tournament.
– This was the maiden ICC U-19 World Cup title for West Indies.
– The ICC Under-19 Cricket World Cup is an international cricket tournament contested by national under-19 teams. First contested in 1988, as the Youth World Cup, it was not staged again until 1998. Since then, the World Cup has been held as a biennial event, organised by the International Cricket Council (ICC). India and Australia have been the most successful teams in this tournament, having won the tournament thrice each. Pakistan has won the tournament twice, while South Africa, England and now the West Indies have won it once.
Business Affairs
Govt prods steelmakers to use local coal to cut $4-bn import bill
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The government is asking the country's big steelmakers to consider converting local medium-quality coal into premium coking coal to slash an annual import bill of more than $4 billion for buying that grade from countries such as Australia and South Africa.
Resurgent local output of power-generating thermal coal has been one of Prime Minister Narendra Modi's successes, and the latest project could help India to partly make up for a shortage of coking reserves that forces companies like JSW Steel and Jindal Steel to import heavily.
Coal Secretary Anil Swarup - who has held talks with companies including Tata Steel and SAIL - said the government could ask state-run Coal India to sign long-term contracts with steel companies to supply medium-grade coking coal that currently goes into power plants.
The plan would require investment of a few hundred million dollars for specialised washeries and other equipment to improve the coal quality, but that could lead to savings of billions of dollars in imports, according to Swarup.
"We have raised the quantity of coal produced, the aim is now to improve the quality," Swarup told Reuters. "We are trying to formulate a policy."
This could aid in meeting Modi's goal of making the country self-sufficient in as many raw materials as possible, while at the same time exporting more value-added products like steel to boost local manufacturing and create jobs.
India, the world's third-largest steel producer and once an exporter to neighbouring countries, turned a net importer of the alloy in the past two years after China started to aggressively sell its excess steel across the world.
India is also the world's third-biggest importer of coal, and the surge in local output, mainly of thermal coal, is hurting suppliers of that grade in Indonesia. If India starts to boost coking coal output as well, there could also be a few losers in Australia and South Africa.
But India will be able to substitute only 5-10 percent of the total coking coal imports to begin with, according to Dipesh Dipu, a natural resources expert at Jenissi Management Consultants that advises companies like Jindal Steel.
That could mean annual savings of around $500 million based on India's imports of about 44 million tonnes of coking coal last fiscal year. The country's total annual coking coal need is about 90 million tonnes.
India is in talks with companies in Poland and Australia for technical help in upgrading its coking coal quality.
It is also trying to douse underground mine fires that have burned for a century in Jharia, in Jharkhand, to better tap the only source of top quality coking coal in the country.
Turnaround
Country's total coal imports have fallen for the last seven months, a big change for a country that has struggled to feed its expanding power plants despite having the world's fifth-biggest reserves of more than 300 billion tonnes of the fuel, almost 90 per cent of that in thermal grades.
Faster environmental clearances and acquisition of land to expand mines have led to the turnaround, although Swarup acknowledged that India will not be able to produce all of its own coking coal.
"Indian coals can be beneficiated to substitute some amount of imported coals," Tata Steel head spokesman Chanakya Chaudhary said.
Still, the country expects its private steel companies and state-controlled SAIL to nearly triple production capacity to 300 million tonnes by 2025, which will further raise demand for coking coal.
"These steps may affect prices a bit but would not have a major impact on imports," said Waseem Ahmad, head of New Delhi-based Sarah Sourcing, which trades in coal from Indonesia, Australia and South Africa.
"India has a bulk requirement and its steel industry will expand."
The government is asking the country's big steelmakers to consider converting local medium-quality coal into premium coking coal to slash an annual import bill of more than $4 billion for buying that grade from countries such as Australia and South Africa.
Resurgent local output of power-generating thermal coal has been one of Prime Minister Narendra Modi's successes, and the latest project could help India to partly make up for a shortage of coking reserves that forces companies like JSW Steel and Jindal Steel to import heavily.
Coal Secretary Anil Swarup - who has held talks with companies including Tata Steel and SAIL - said the government could ask state-run Coal India to sign long-term contracts with steel companies to supply medium-grade coking coal that currently goes into power plants.
The plan would require investment of a few hundred million dollars for specialised washeries and other equipment to improve the coal quality, but that could lead to savings of billions of dollars in imports, according to Swarup.
"We have raised the quantity of coal produced, the aim is now to improve the quality," Swarup told Reuters. "We are trying to formulate a policy."
This could aid in meeting Modi's goal of making the country self-sufficient in as many raw materials as possible, while at the same time exporting more value-added products like steel to boost local manufacturing and create jobs.
India, the world's third-largest steel producer and once an exporter to neighbouring countries, turned a net importer of the alloy in the past two years after China started to aggressively sell its excess steel across the world.
India is also the world's third-biggest importer of coal, and the surge in local output, mainly of thermal coal, is hurting suppliers of that grade in Indonesia. If India starts to boost coking coal output as well, there could also be a few losers in Australia and South Africa.
But India will be able to substitute only 5-10 percent of the total coking coal imports to begin with, according to Dipesh Dipu, a natural resources expert at Jenissi Management Consultants that advises companies like Jindal Steel.
That could mean annual savings of around $500 million based on India's imports of about 44 million tonnes of coking coal last fiscal year. The country's total annual coking coal need is about 90 million tonnes.
India is in talks with companies in Poland and Australia for technical help in upgrading its coking coal quality.
It is also trying to douse underground mine fires that have burned for a century in Jharia, in Jharkhand, to better tap the only source of top quality coking coal in the country.
Turnaround
Country's total coal imports have fallen for the last seven months, a big change for a country that has struggled to feed its expanding power plants despite having the world's fifth-biggest reserves of more than 300 billion tonnes of the fuel, almost 90 per cent of that in thermal grades.
Faster environmental clearances and acquisition of land to expand mines have led to the turnaround, although Swarup acknowledged that India will not be able to produce all of its own coking coal.
"Indian coals can be beneficiated to substitute some amount of imported coals," Tata Steel head spokesman Chanakya Chaudhary said.
Still, the country expects its private steel companies and state-controlled SAIL to nearly triple production capacity to 300 million tonnes by 2025, which will further raise demand for coking coal.
"These steps may affect prices a bit but would not have a major impact on imports," said Waseem Ahmad, head of New Delhi-based Sarah Sourcing, which trades in coal from Indonesia, Australia and South Africa.
"India has a bulk requirement and its steel industry will expand."
Power Grid, Adani, Essel submit bids for Warangal transmission project
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State-run Power Grid, Sterlite, Adani and Essel have submitted their financial bids for the Rs 6,000-crore Warangal transmission project.
Reliance Power Transmission, which had qualified the technical round, did not submitted its financial bid.
Power Grid Corp (PGCIL), Sterlite, Adani and Essel have submitted the financial bids to participate in the auction for Warangal transmission project.
The last data for submission of bids was February 9, a source said.
The bids can be opened anytime next week by Power Finance Corporation's arm PFC Consulting, which is handling the auction process, the source added.
The last data for submitting the bids were extended from January 29 to February 9. According to the previous schedule, the financial bids for the project were to be opened on February 5.
Based on the lowest annual tariff, successful bidder was to be announced after a week on February 12.
The source said: Now the financial bids are submitted. It is expected that project may be awarded by the month end. The source also said the cost of project has been revised downwards from Rs 9,000 crore to Rs 6,000 crore recently.
To develop the country's power transmission capacity, the government is in the process of auctioning projects worth Rs 1 lakh crore in the current fiscal. These are auctioned through the tariff-based competitive bidding (TBCB) process.
Under this arrangement, the developer quoting the lowest annual tariff is awarded the project. The Warangal project is one such case and the largest so far this fiscal in terms of value (cost).
The project involves setting up of 765/400 kv sub-stations at Warangal in Andhra Pradesh and includes a series of 765 kv double-circuit lines including Warora (Pool) to Warangal (New), Warangal (New) to Hyderabad, Hyderabad-Kurnool, and Warangal (New) to Chilakaluripeta. There are two 400-kv double-circuit lines, which will also be part of the project. The main aim is to augment power supply to the southern grid.
State-run Power Grid, Sterlite, Adani and Essel have submitted their financial bids for the Rs 6,000-crore Warangal transmission project.
Reliance Power Transmission, which had qualified the technical round, did not submitted its financial bid.
Power Grid Corp (PGCIL), Sterlite, Adani and Essel have submitted the financial bids to participate in the auction for Warangal transmission project.
The last data for submission of bids was February 9, a source said.
The bids can be opened anytime next week by Power Finance Corporation's arm PFC Consulting, which is handling the auction process, the source added.
The last data for submitting the bids were extended from January 29 to February 9. According to the previous schedule, the financial bids for the project were to be opened on February 5.
Based on the lowest annual tariff, successful bidder was to be announced after a week on February 12.
The source said: Now the financial bids are submitted. It is expected that project may be awarded by the month end. The source also said the cost of project has been revised downwards from Rs 9,000 crore to Rs 6,000 crore recently.
To develop the country's power transmission capacity, the government is in the process of auctioning projects worth Rs 1 lakh crore in the current fiscal. These are auctioned through the tariff-based competitive bidding (TBCB) process.
Under this arrangement, the developer quoting the lowest annual tariff is awarded the project. The Warangal project is one such case and the largest so far this fiscal in terms of value (cost).
The project involves setting up of 765/400 kv sub-stations at Warangal in Andhra Pradesh and includes a series of 765 kv double-circuit lines including Warora (Pool) to Warangal (New), Warangal (New) to Hyderabad, Hyderabad-Kurnool, and Warangal (New) to Chilakaluripeta. There are two 400-kv double-circuit lines, which will also be part of the project. The main aim is to augment power supply to the southern grid.
Bad loans pull down Canara Bank net profit by 87% in Q3
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State-run Canara Bank on Friday reported a 87 per cent drop in net profit at Rs 84.9 crore for the third quarter of 2015-16 on account of rise in bad loans.
The Bangalore-based lender had posted a net profit of Rs 655.9 crore for the October-December quarter of 2014-15 fiscal. The bank's total income also fell to Rs 12,050.6 crore for the quarter under review from Rs 12,227.86 crore in the year-ago period, Canara Bank said in a regulatory filing to exchanges.
The gross NPAs as a percentage of total advances rose to 5.84 per cent from 3.35 per cent in the same quarter a year ago.
Its net NPAs rose to 3.90 per cent from 2.42 per cent at the end of December 2014. Gross NPAs in absolute terms rose significantly to Rs 19,813.44 crore as compared to Rs 10,573.57 crore at the end of December 2014.
However, total provisions, excluding for income tax, made during the third quarter were Rs 1,428.85 crore as against Rs 841.33 crore in the year-ago period.
Operating profit declined to Rs 1,552.44 crore as against Rs 1,797.30 crore in the corresponding period. During the first three quarters of 2015-16, Canara Bank posted 47.7 per cent decline in profit at Rs 1,092.67 crore as compared to Rs 2,089.67 crore in the year-ago period. The bank's total income for the nine month period in the current fiscal stood at Rs 36781.22 crore as compared to Rs 35,871.08 crore in the same period of previous financial year.
State-run Canara Bank on Friday reported a 87 per cent drop in net profit at Rs 84.9 crore for the third quarter of 2015-16 on account of rise in bad loans.
The Bangalore-based lender had posted a net profit of Rs 655.9 crore for the October-December quarter of 2014-15 fiscal. The bank's total income also fell to Rs 12,050.6 crore for the quarter under review from Rs 12,227.86 crore in the year-ago period, Canara Bank said in a regulatory filing to exchanges.
The gross NPAs as a percentage of total advances rose to 5.84 per cent from 3.35 per cent in the same quarter a year ago.
Its net NPAs rose to 3.90 per cent from 2.42 per cent at the end of December 2014. Gross NPAs in absolute terms rose significantly to Rs 19,813.44 crore as compared to Rs 10,573.57 crore at the end of December 2014.
However, total provisions, excluding for income tax, made during the third quarter were Rs 1,428.85 crore as against Rs 841.33 crore in the year-ago period.
Operating profit declined to Rs 1,552.44 crore as against Rs 1,797.30 crore in the corresponding period. During the first three quarters of 2015-16, Canara Bank posted 47.7 per cent decline in profit at Rs 1,092.67 crore as compared to Rs 2,089.67 crore in the year-ago period. The bank's total income for the nine month period in the current fiscal stood at Rs 36781.22 crore as compared to Rs 35,871.08 crore in the same period of previous financial year.
Govt to soon introduce Business Identification Number for firms
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To improve ease of doing business, the government will soon introduce Business Identification Number (BIN) for companies, doing away with multiple registration numbers a single entity needs to obtain for various regulatory purposes.
The BIN would act as an identification number for different regulatory purposes and do away with the need for procuring separate registration numbers such as Company Identification Number and Labour Identification Number.
Normally, a company is required to obtain 18 different registration numbers.
As per the proposal, the permanent account number (PAN) may become the BIN for companies, an official said.
The Department of Industrial Policy and Promotion is discussing the matter with the Ministry of Corporate Affairs.
"The DIPP is expected to come out with the BIN in the next 2-3 months. It will help in reducing the time of registration processes of the companies," the official said adding the firms will have to apply for the BIN on the e-Biz portal.
The portal provides one-stop clearance platform for investment proposals.
India has been ranked at 130th for 2016 among 189 countries in the World Bank report on ease of doing business, improving four places from last year's ranking. The government is aiming to bring India into the top 50 ranks.
Several initiatives have been taken up by the government for improving ease of doing business in India through simplification and rationalisation of the existing rules and introduction of information technology to make governance more efficient and effective.
To improve ease of doing business, the government will soon introduce Business Identification Number (BIN) for companies, doing away with multiple registration numbers a single entity needs to obtain for various regulatory purposes.
The BIN would act as an identification number for different regulatory purposes and do away with the need for procuring separate registration numbers such as Company Identification Number and Labour Identification Number.
Normally, a company is required to obtain 18 different registration numbers.
As per the proposal, the permanent account number (PAN) may become the BIN for companies, an official said.
The Department of Industrial Policy and Promotion is discussing the matter with the Ministry of Corporate Affairs.
"The DIPP is expected to come out with the BIN in the next 2-3 months. It will help in reducing the time of registration processes of the companies," the official said adding the firms will have to apply for the BIN on the e-Biz portal.
The portal provides one-stop clearance platform for investment proposals.
India has been ranked at 130th for 2016 among 189 countries in the World Bank report on ease of doing business, improving four places from last year's ranking. The government is aiming to bring India into the top 50 ranks.
Several initiatives have been taken up by the government for improving ease of doing business in India through simplification and rationalisation of the existing rules and introduction of information technology to make governance more efficient and effective.
SBI-led consortium to sell Kingfisher House on March 17
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The SBI-led bank consortium has decided to auction Kingfisher House in Mumbai on March 17 in a bid to recover a part of Rs 6,963 crore debt due from the now grounded Kingfisher Airlines.
The e-auction will be done under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
SBICAP Trustee Company Ltd, which took possession of the property last year, will do e-auction of the 2,401.70 square meter property on March 17.
The Trustee Company has kept reserve price of Rs 150 crore and the bid increment amount is Rs 5 lakh, a public notice said.
The earnest money deposit for this auction has been fixed at Rs 15 lakh.
As per the notice, the borrower is Kingfisher Airlines and guarantors are United Breweries (Holdings) Ltd and Vijay Mallya.
It can be recalled that Kingfisher Airlines, started by liquor baron Mallya in May 2005 with much fanfare, went on to become the second largest in its heydays even though it never made a single penny in profit.
As cashflow issues mounted on the airline, it has remained grounded since October 2012, and the airline lost its flying licence two months later.
The SBI-led lenders consortium had taken over the Kingfisher House near city airport in February 2015 worth around Rs 150 crore, after winning the case in the local court.
They have also taken over the Kingfisher Villa in Goa, worth around Rs 90 crore.
So far, the lenders have recovered around Rs 1,600 crore from their original exposure of Rs 6,900 crore by selling pledged shares and other monetisable collaterals.
The banks have moved the Debt Recovery Tribunal, Bengaluru and the Karnataka High Court and the company said it is contesting their claims.
Banks are now charging 15.5 per cent compounded interest on this principal amount, which have not been serviced since January, 2013.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
Other banks that have exposure to the airline include Punjab National Bank and IDBI Bank (Rs 800 crore each), Bank of India (Rs 650 crore), Bank of Baroda (Rs 550 crore), Central Bank of India (Rs 410 crore).
UCO Bank has to recover Rs 320 crore, Corporation Bank (Rs 310 crore), State Bank of Mysore, (Rs 150 crore), Indian Overseas Bank (Rs 140 crore), Federal Bank (Rs 90 crore), Punjab & Sind Bank (Rs 60 crore) and Axis Bank (Rs 50 crore).
The SBI-led bank consortium has decided to auction Kingfisher House in Mumbai on March 17 in a bid to recover a part of Rs 6,963 crore debt due from the now grounded Kingfisher Airlines.
The e-auction will be done under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
SBICAP Trustee Company Ltd, which took possession of the property last year, will do e-auction of the 2,401.70 square meter property on March 17.
The Trustee Company has kept reserve price of Rs 150 crore and the bid increment amount is Rs 5 lakh, a public notice said.
The earnest money deposit for this auction has been fixed at Rs 15 lakh.
As per the notice, the borrower is Kingfisher Airlines and guarantors are United Breweries (Holdings) Ltd and Vijay Mallya.
It can be recalled that Kingfisher Airlines, started by liquor baron Mallya in May 2005 with much fanfare, went on to become the second largest in its heydays even though it never made a single penny in profit.
As cashflow issues mounted on the airline, it has remained grounded since October 2012, and the airline lost its flying licence two months later.
The SBI-led lenders consortium had taken over the Kingfisher House near city airport in February 2015 worth around Rs 150 crore, after winning the case in the local court.
They have also taken over the Kingfisher Villa in Goa, worth around Rs 90 crore.
So far, the lenders have recovered around Rs 1,600 crore from their original exposure of Rs 6,900 crore by selling pledged shares and other monetisable collaterals.
The banks have moved the Debt Recovery Tribunal, Bengaluru and the Karnataka High Court and the company said it is contesting their claims.
Banks are now charging 15.5 per cent compounded interest on this principal amount, which have not been serviced since January, 2013.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
Other banks that have exposure to the airline include Punjab National Bank and IDBI Bank (Rs 800 crore each), Bank of India (Rs 650 crore), Bank of Baroda (Rs 550 crore), Central Bank of India (Rs 410 crore).
UCO Bank has to recover Rs 320 crore, Corporation Bank (Rs 310 crore), State Bank of Mysore, (Rs 150 crore), Indian Overseas Bank (Rs 140 crore), Federal Bank (Rs 90 crore), Punjab & Sind Bank (Rs 60 crore) and Axis Bank (Rs 50 crore).
General Awareness
LIC AAO EXAM GENERAL KNOWLEDGE AND CURRENT AFFAIRS SOLVED PAPER
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1. The United Nations University established in 1973 is the academic and research arm of the United Nations. It is headquartered in–
(a) New York, USA (b) Washington DC, USA
(c) Tokyo, Japan (d) Geneva, Switzerland
(e) Manila, Philippines (Ans : c)
2. Shri Narendra Singh Tomar, the Union Minister for Mines and Steel is a Member of Parliament from the Indian State of–
(a) Bihar (b) Maharashtra (c) Rajasthan
(d) Madhya Pradesh (e) Chattisgarh (Ans : d)
3. PM Shri Narendra Modi has recently dedicated to the nation two units, each of 600 MW of the Shree Singaji Thermal Power Plant in–
(a) Ujjain District (b) Khandwa District (c) Ratlam District
(d) Bhopal District (e) Indore District (Ans : b)
4. The committee recently set up by the Central Government to interact with industry on tax laws to give recommendations to CBDT and CBEC for issuance of clarifications when necessary, is headed by–
(a) Arvind Goswami (b) Arvind Subramaniam (c) Arvind Mayaram
(d) Vijay Kelkar (e) Ashok Lahiri (Ans : e)
5. According to the Public Enterprises Survey recently tabled in Parliament, the most profitable Public Sector Enterprise during 2013-2014 was–
(a) BSNL (b) ONGC (c) NTPC (d) NMDC (e) NPCL (Ans : b)
6. In terms of the Motor Vehicle Agreement signed between the two countries during the recent 18th SAARC Summit at Nepal, a direct bus service has recently been launched in March 2015 between Varanasi and–
(a) Lahore, Pakistan (b) Kathmandu, Nepal (c) Thimphu, Bhutan
(d) Kabul, Afghanistan (e) Dhaka, Bangladesh (Ans : b)
7. The 'Armed Forces Flag Day' is observed every year on the–
(a) 26th October (b) 21st November (c) 18th December
(d) 7th December (e) 21st September (Ans : d)
8. 'Vishu' is the New Year day and a Hindu festival celebrated in the Indian State of–
(a) Karnataka (b) Goa (c) Telangana (d) Odisha (e) Kerala (Ans : e)
9. Sushil Kumar is associated with the sports of–
(a) Tennis (b) Basketball (c) Football (d) Wrestling (e) Golf (Ans : d)
10. The 'Shwedagon Pagoda' also known as 'Great Dagon Pagoda' and the 'Golden Pagoda' is situated in–
(a) Mumbai, India (b) Tokyo, Japan (c) Yangon, Myanmar
(d) Kyoto, Japan (e) Thimphu, Bhutan (Ans : c)
11. The capital of the Myanmar is–
(a) Thimphu (b) Putrajaya (c) Langkawi (d) Naypyidaw (e) Punakha (Ans : d)
12. The World's largest and tallest Indian National flag was recently unfurled in–
(a) Faridabad (b) Gurgaon (c) Kamal (d) Ghaziabad (e) Panipat (Ans : a)
13. As per 2011 census, the total number of children in the age-group 0-6 years was–
(a) 185. 8 million (b) 198. 8 million (c) 221. 8 million
(d) 189. 8 million (e) 158. 8 million (Ans : e)
14. 'G. Karthikeyan', who recently passed away at Bengaluru was the speaker of the Legislative Assembly of–
(a) Karnataka (b) Kerala (c) Telangana (d) Tamil Nadu (e) Andhra Pradesh (Ans : b)
15. In the budget for 2015-2016, the Finance Minister Shri Arun Jaitley has proposed to set up a centre for film production, animation and gaming in the State of–
(a) Haryana (b) Meghalaya (c) Andhra Pradesh
(d) Jammu and Kashmir (e) Arunachal Pradesh (Ans : e)
16. The film 'Ida' named as the 'Best Foreign Language Film' at the 87th Academy Awards 2015 is–
(a) a Polish drama film (b) a French family drama film
(c) an American comedy film (d) a Russian short story film
(e) a British documentary film (Ans : a)
17. Sun Pharmaceutical Industries, India's largest drug maker, has recently announced that it would acquire the oplates business of British drug maker Glaxo Smith Kline(GSK) in–
(a) Europe (b) USA (c) New Zealand (d) Asia (e) Australia (Ans : e)
18. The first woman to be appointed as a Director on the board of Reliance industries- the nation's largest private sector company is–
(a) Tina Anil Ambani (b) Meera Sanyal (c) Nita Mukesh Ambani
(d) Usha Thorat (e) Kokilaben Ambani (Ans : c)
19. The Lok Sabha recently passed the Insurance Laws (Amendment) Bill, 2015, that proposes to raise the foreign investment cap in the insurance sector from 26 percent to–
(a) 69 percent (b) 51 percent (c) 59 percent (d) 55 percent (e) 49 percent (Ans : e)
20. Who amongst the following has recently been elected as the new President of BCCI ?
(a) N. Srinivasan (b) Rajiv Shukla (c) Sanjay Patel
(d) Jagmohan Dalmiya (e) Anurag Thakur (Ans : d)
21. 880 MW Kaiga Atomic Power Plant is situated near the river Kali in the Indian State of–
(a) Tamil Nadu (b) Kerala (c) Andhra Pradesh (d) Karnataka (e) Maharashtra (Ans : d)
22. The currency of the 'Republic of South Africa' is–
(a) Rand (b) Rial (e) Ruble (d) Riyal (e) Rial (Ans : a)
23. 'Fugdi' is a traditional folk dance popular in the Indian State of–
(a) Goa (b) Bihar (c) Odisha (d) Chattisgarh (e) Gujarat (Ans : a)
24. The 'CNSA' is the national space agency of–
(a) Soviet Union (b) Republic of Singapore (c) Russian Federation
(d) People's Republic of China (e) United States of America (Ans : d)
25. In the recent Union Budget 2015, the Union Minister of Finance has proposed to support the 'Paramparagat Krishi Vikas Yojana' which aims to boost–
(a) Floriculture Production (b) Drip Irrigation (c) Watershed Development
(d) Minor Irrigation (e) Organic Farming (Ans : c)
26. The RBI has recently allowed Indians to carry high value denomination notes while travelling to Nepal and Bhutan within a limit of–
(a) Rs. 20,000/- (b) Rs. 30,000/- (c) Rs. 35,000/-
(d) Rs. 25,000/- (e) Rs. 40,000/- (Ans : d)
27. Reliance infrastructure with its wholly-owned subsidiary Reliance Defence Systems Private Ltd. has. recently announced the acquisition of Pipavav Defence Company Limited based in–
(a) Tamil Nadu (b) Maharashtra (c) Goa (d) Kerala (e) Gujarat (Ans : b)
28. Tile abbreviation 'CSR' stands for–
(a) Collective Social Responsibility (b) Collective Shared Responsibility
(c) Corporate Social Responsibility (d) Corporate Shared Responsibility
(e) Commercial Shared Responsibility (Ans : c)
29. For highlighting women's safety, the National Insurance of gender justice has recently honoured film actress–
(a) Rani Mukherji (b) Vidya Balan (c) Jaya Bachchan
(d) Priyanka Chopra (e) Hema Malini (Ans : a)
30. The global meet on countering Violent Extremism was recently held in–
(a) London, UK (b) New York, USA (c) Washington, USA
(d) Ottawa, Canada (e) Paris, France (Ans : c)
- 1. The United Nations University established in 1973 is the academic and research arm of the United Nations. It is headquartered in–
(a) New York, USA (b) Washington DC, USA
(c) Tokyo, Japan (d) Geneva, Switzerland
(e) Manila, Philippines (Ans : c)
2. Shri Narendra Singh Tomar, the Union Minister for Mines and Steel is a Member of Parliament from the Indian State of–
(a) Bihar (b) Maharashtra (c) Rajasthan
(d) Madhya Pradesh (e) Chattisgarh (Ans : d)
3. PM Shri Narendra Modi has recently dedicated to the nation two units, each of 600 MW of the Shree Singaji Thermal Power Plant in–
(a) Ujjain District (b) Khandwa District (c) Ratlam District
(d) Bhopal District (e) Indore District (Ans : b)
4. The committee recently set up by the Central Government to interact with industry on tax laws to give recommendations to CBDT and CBEC for issuance of clarifications when necessary, is headed by–
(a) Arvind Goswami (b) Arvind Subramaniam (c) Arvind Mayaram
(d) Vijay Kelkar (e) Ashok Lahiri (Ans : e)
5. According to the Public Enterprises Survey recently tabled in Parliament, the most profitable Public Sector Enterprise during 2013-2014 was–
(a) BSNL (b) ONGC (c) NTPC (d) NMDC (e) NPCL (Ans : b)
6. In terms of the Motor Vehicle Agreement signed between the two countries during the recent 18th SAARC Summit at Nepal, a direct bus service has recently been launched in March 2015 between Varanasi and–
(a) Lahore, Pakistan (b) Kathmandu, Nepal (c) Thimphu, Bhutan
(d) Kabul, Afghanistan (e) Dhaka, Bangladesh (Ans : b)
7. The 'Armed Forces Flag Day' is observed every year on the–
(a) 26th October (b) 21st November (c) 18th December
(d) 7th December (e) 21st September (Ans : d)
8. 'Vishu' is the New Year day and a Hindu festival celebrated in the Indian State of–
(a) Karnataka (b) Goa (c) Telangana (d) Odisha (e) Kerala (Ans : e)
9. Sushil Kumar is associated with the sports of–
(a) Tennis (b) Basketball (c) Football (d) Wrestling (e) Golf (Ans : d)
10. The 'Shwedagon Pagoda' also known as 'Great Dagon Pagoda' and the 'Golden Pagoda' is situated in–
(a) Mumbai, India (b) Tokyo, Japan (c) Yangon, Myanmar
(d) Kyoto, Japan (e) Thimphu, Bhutan (Ans : c)
11. The capital of the Myanmar is–
(a) Thimphu (b) Putrajaya (c) Langkawi (d) Naypyidaw (e) Punakha (Ans : d)
12. The World's largest and tallest Indian National flag was recently unfurled in–
(a) Faridabad (b) Gurgaon (c) Kamal (d) Ghaziabad (e) Panipat (Ans : a)
13. As per 2011 census, the total number of children in the age-group 0-6 years was–
(a) 185. 8 million (b) 198. 8 million (c) 221. 8 million
(d) 189. 8 million (e) 158. 8 million (Ans : e)
14. 'G. Karthikeyan', who recently passed away at Bengaluru was the speaker of the Legislative Assembly of–
(a) Karnataka (b) Kerala (c) Telangana (d) Tamil Nadu (e) Andhra Pradesh (Ans : b)
15. In the budget for 2015-2016, the Finance Minister Shri Arun Jaitley has proposed to set up a centre for film production, animation and gaming in the State of–
(a) Haryana (b) Meghalaya (c) Andhra Pradesh
(d) Jammu and Kashmir (e) Arunachal Pradesh (Ans : e)
16. The film 'Ida' named as the 'Best Foreign Language Film' at the 87th Academy Awards 2015 is–
(a) a Polish drama film (b) a French family drama film
(c) an American comedy film (d) a Russian short story film
(e) a British documentary film (Ans : a)
17. Sun Pharmaceutical Industries, India's largest drug maker, has recently announced that it would acquire the oplates business of British drug maker Glaxo Smith Kline(GSK) in–
(a) Europe (b) USA (c) New Zealand (d) Asia (e) Australia (Ans : e)
18. The first woman to be appointed as a Director on the board of Reliance industries- the nation's largest private sector company is–
(a) Tina Anil Ambani (b) Meera Sanyal (c) Nita Mukesh Ambani
(d) Usha Thorat (e) Kokilaben Ambani (Ans : c)
19. The Lok Sabha recently passed the Insurance Laws (Amendment) Bill, 2015, that proposes to raise the foreign investment cap in the insurance sector from 26 percent to–
(a) 69 percent (b) 51 percent (c) 59 percent (d) 55 percent (e) 49 percent (Ans : e)
20. Who amongst the following has recently been elected as the new President of BCCI ?
(a) N. Srinivasan (b) Rajiv Shukla (c) Sanjay Patel
(d) Jagmohan Dalmiya (e) Anurag Thakur (Ans : d)
21. 880 MW Kaiga Atomic Power Plant is situated near the river Kali in the Indian State of–
(a) Tamil Nadu (b) Kerala (c) Andhra Pradesh (d) Karnataka (e) Maharashtra (Ans : d)
22. The currency of the 'Republic of South Africa' is–
(a) Rand (b) Rial (e) Ruble (d) Riyal (e) Rial (Ans : a)
23. 'Fugdi' is a traditional folk dance popular in the Indian State of–
(a) Goa (b) Bihar (c) Odisha (d) Chattisgarh (e) Gujarat (Ans : a)
24. The 'CNSA' is the national space agency of–
(a) Soviet Union (b) Republic of Singapore (c) Russian Federation
(d) People's Republic of China (e) United States of America (Ans : d)
25. In the recent Union Budget 2015, the Union Minister of Finance has proposed to support the 'Paramparagat Krishi Vikas Yojana' which aims to boost–
(a) Floriculture Production (b) Drip Irrigation (c) Watershed Development
(d) Minor Irrigation (e) Organic Farming (Ans : c)
26. The RBI has recently allowed Indians to carry high value denomination notes while travelling to Nepal and Bhutan within a limit of–
(a) Rs. 20,000/- (b) Rs. 30,000/- (c) Rs. 35,000/-
(d) Rs. 25,000/- (e) Rs. 40,000/- (Ans : d)
27. Reliance infrastructure with its wholly-owned subsidiary Reliance Defence Systems Private Ltd. has. recently announced the acquisition of Pipavav Defence Company Limited based in–
(a) Tamil Nadu (b) Maharashtra (c) Goa (d) Kerala (e) Gujarat (Ans : b)
28. Tile abbreviation 'CSR' stands for–
(a) Collective Social Responsibility (b) Collective Shared Responsibility
(c) Corporate Social Responsibility (d) Corporate Shared Responsibility
(e) Commercial Shared Responsibility (Ans : c)
29. For highlighting women's safety, the National Insurance of gender justice has recently honoured film actress–
(a) Rani Mukherji (b) Vidya Balan (c) Jaya Bachchan
(d) Priyanka Chopra (e) Hema Malini (Ans : a)
30. The global meet on countering Violent Extremism was recently held in–
(a) London, UK (b) New York, USA (c) Washington, USA
(d) Ottawa, Canada (e) Paris, France (Ans : c)
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