Details for upcoming exams - IMF,World Bank, CBI,IB,ED, RAW ,WTO,UNO,RBI ,Finance Commission, Planning Commission, NITI AYOG, Election Commission, National Parties, Supreme Court ,UPSC etc with recent updates
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1.Present Managing Director of IMF(International Monetary Fund) is Bulgarian Economist Kristalina Georgieva. IMF was established in 1944 under Bretton Woods Conference. It's headquarter is in Washington DC. It helps member countries in managing balance of payment crisis. The three main functions of IMF is Surveillance, financial support in meeting balance of payment crisis and providing technical assistance to member countries.IMF provides advice in Policy formulation, capacity building and concessional financial support through the Poverty Reduction and Growth Trust (PRGT) which is currently interest free to developing countries.
1.Present Managing Director of IMF(International Monetary Fund) is Bulgarian Economist Kristalina Georgieva. IMF was established in 1944 under Bretton Woods Conference. It's headquarter is in Washington DC. It helps member countries in managing balance of payment crisis. The three main functions of IMF is Surveillance, financial support in meeting balance of payment crisis and providing technical assistance to member countries.IMF provides advice in Policy formulation, capacity building and concessional financial support through the Poverty Reduction and Growth Trust (PRGT) which is currently interest free to developing countries.
2. First Deputy Managing Director of IMF is Indian American Gita Gopinath.
3. Previous World Bank President was David Malpass,an American Economist. Now the president of World Bank is Ajay Banga , Indian American and former CEO of Master Card . World Bank was established in 1944 under Bretton Woods Conference. It's headquarter is in Washington DC. It's main function is to provide loans for reconstruction and development to it's member countries. World Bank consists of 5 constituents : (a) IBRD- International Bank for Reconstruction and Development (b) IDA - International Development Association (c) IFC - International Financial Corporation (d) MIGA - Multilateral Investment Guarantee Agency (e) ICSID -International centre for settlement of Investment Disputes
4. Intelligence Agencies of India which remains in news for mainly political reasons in India and abroad :
(a) CBI stands for central bureau investigation - The CBI is headed by a Director an IPS officer with a rank of Director General of Police. The present director of CBI is Praveen Sood. CBI is neither a statutory nor a constitutional body and derives it's power from Delhi Special Police Establishment Act ,1946 as amended through The Lokpal and Lokayuktas Act ,2013.
(b)ED stands for Enforcement Directorate - ED Director Sanjay Kumar Mishra tenure has ended and Rahul Navin has been appointed in - charge chief. ED is economic and law enforcement agency and part of Department of Revenue, Ministry of Finance, Government of India.
(c) IB stands for Intelligence Bureau - The present director of IB is Tapan Deka . IB is top domestic intelligence agency which gathers intelligence in country and abroad for internal security.
(d) RAW stands for Research and Analysis Wing - The current chief of RAW is Ravi Sinha. The headquarter of RAW is in Delhi. RAW chief is Secretary Research in Cabinet Secretariat under Prime Minister of India.
5. Ngozi okonjo Iweala is present Director General of WTO . He is Nigerian American Economist,first woman and first African to head WTO(World Trade organization). WTO was established on First January 1995 after Uruguay round of GATT (General Agreement on Trade and Tariffs) negotiations. It's headquarter is in Geneva, Switzerland. It's first Director General was Peter Sutherland. The main function of WTO is to promote free and smooth multilateral trade among member countries.
6. The present UNO(United Nations Organization) secretary general is Portuguese leader Antonio Guterres. UNO was established on 24th October 1945 to prevent any future wars. It's headquarter is in New York,USA. The first Secretary General of UNO was Trygve Lie from Norway. There are 193 members in UNO . It has 6 organs - General Assembly, Secretariat, Security Council, Economic and Social Council, Trusteeship council, International court of Justice. The most powerful organ is Security Council which has 5 permanent veto wielding members and 10 temporary members elected every 2 years.
Important agencies associated with UNO are
(a) UNESCO - United Nations Educational Scientific and Cultural Organization - It's headquarter is in Paris,France
(b) UNICEF - United Nations Children's Fund - It's headquarter is in New York, USA
(c) WHO - World Health organization - It's headquarter is in Geneva, Switzerland
(d) ILO - International Labour Organization - It's headquarter is in Geneva, Switzerland
(e) FAO - Food and Agriculture Organization - It's headquarter is in Rome,Italy
(f) UNDP - United Nations Development programme - It's headquarter is in New York, USA
(g) UNEP - United Nations Environment programme - It's headquarter is in Nairobi,Kenya
(h) World Bank - It's headquarter is in Washington DC, USA
(I) IMF - International Monetary Fund - It's headquarter is in Washington DC, USA
(j)ITU - International Telecommunication Union - It's headquarter is in Geneva, Switzerland
(k) ICAO - International Civil Aviation Organization - It's headquarter is in Montreal, Canada.
7. Attorney General of India is appointed by the president under Art 76 . He is the first Law Officer. He has the right of audience in any court within the territory of India. He is the sole authority having right to participate in any debate or discussion on the floor of both houses of Parliament without being it's member but he can't vote on them in parliament. He gives advice to president in legal matters. The first Attorney General was MC Setalvad. The first woman to become Attorney General in India was Cornelia Sorabji.The present Attorney General is R Venkataramani (16th).
8. The present CAG(Comptroller and Auditor General) is Girish Chandra Murmu (14th). First CAG of India was V Narhari Rao . CAG is appointed by president of India under Art 148 . He audits the accounts of Union,State and those Companies and Corporations which are substantially financed by Union or State Governments. CAG remains on his post for age of 65 years or 6 years of tenure which reaches earliest. He can be removed by the president when such resolution is passed by both houses of parliament by not less than majority of the strength of respective houses and two third of the members present and voting in the respective houses.
9. Finance Commission is constituted by the president under Art 280 every 5 years . Finance Commission was established in 1951. The period of first Finance Commission was 1952-1957. The chairman of First Finance Commission was KC Niyogi. The chairman of 15th Finance Commission (2021-2022 to 2025-2026) is NK Singh(Nand Kishor Singh) . The main Function of Finance Commission is to recommend principles of distribution of taxes,aids,grants from Union to State Governments .
10. Planning Commission was established on 15 March 1950. It was extra constitutional authority established by executive resolution. The Prime minister is ex-officio chairman of Planning Commission. The first chairman of Planning Commission was Jawahar Lal Nehru.The first Deputy chairman of Planning Commission was Guljari Lal Nanda. The period of first five year plan was 1951-1956. The first five year plan was based on Harod Domer model and it's priority was Agriculture growth. India was influenced to adopt planned economic development by Lenin's 4 year plans in Soviet Union. National Planning Committee was established under the chairmanship of Jawaharlal Nehru in 1938 in Haripur Annual Session of Indian National Congress presided by Subhash Chandra Bose in pre Independence period. Planning Commission was abolished on 25th May 2014 and was replaced by NITI AYOG on First January 2015.Last Deputy chairman of Planning Commission was Montek Singh Ahluwalia and last chairman of Planning Commission was Narendra Modi. The main function of planning Commission was to formulate 5 year plans , define the stages of implementation, identifying the priorities, monitoring, co-ordinating and controlling the process of planning. NDC was established in 1952 on the recommendation of Planning Commission. NDC (National Development Council) is also an extra constitutional authority established by executive resolution. The prime minister is ex-officio chairman of NDC too. The chief ministers, Lt. Governors of Union Territories are also members of NDC. NDC finally decides the size,priority of 5 year plans and finally approves them . NDC was established to ensure States participation in Planning process. After the coming of Narendra Modi Govt in 2014 it was proposed to abolish NDC but no such resolution has been brought. But as composition and functions of Governing body of NITI AYOG is nearly the same as NDC it has become nonexistant and it has been assigned no work since coming of Modi Govt.
11. NITI AYOG (National Institution for Transforming India) was established on First January 2015 by an executive resolution replacing Planning Commission which was earlier abolished on 25 May 2014 .PM is the ex-officio chairman of NITI AYOG. The first and present chairman of NITI AYOG is Narendra Modi.The first Vice chairman of NITI AYOG is Arvind Panagariya. The present Vice chairman of NITI AYOG is Suman Bery. NITI AYOG is an extra constitutional authority. It has been established to ensure Socio economic development of the country through Cooperative Federalism and fair competition among states for healthy growth and development of the nation as a whole. To ensure participation of all states and union Territories in process of planning NITI AYOG composition includes CM of States, LT Governors of Union Territories, Cabinet Ministers and it is Chaired by PM .
12. Election commission is constituted by the president under Art 324 every 5 years. Election commission was established on 25th January 1950. The first elections were held from 25th October 1951 to 21 February 1952 . Voter's turn out was 45.7% of total registered votes. Indian National Congress won 364 seats out of total 489 securing 45%of total polled valid votes.1874 candidates, 53Political Parties out of which there were 14 national parties, participated in First General Elections. Jawaharlal Nehru was first democratically elected PM of India. The first Chief Election Commissioner of India was Indian Civil Servent Sukumar Sen.The present chief election commissioner of India is Rajeev Kumar (25th).Other members are Arun Goyal and Anoop Chandra Pandey. The functions of Election Commission is to conduct Elections of Union, State and Local bodies. During Election it has control over administration. Election commission is responsible for Notifications , registration of political parties and giving them recognition as state parties,national parties, alloting symbols, deciding about the phases ,dates of elections , holding monitoring and controlling elections, declaration of results , giving certificates to winning candidates . All election disputes except arising in president and vice-president elections are decided by Election commission. If any dispute arises in Election of President and Vice President,that is decided by Supreme court. Chief Election Commissioner is first among equals and every decision is taken on majority opinion in 3 membered Election Commission. Chief Election Commissioner can remain in his post upto age of 65 years or 6 years tenure which reaches the earliest. He can be removed by the president if both houses of Parliament passes such resolution with atleast majority of strength of respective houses and two third members present and voting.
13.Presently there are 6 National Party recognised by Election Commission.They are Indian National Congress, Bhartiya Janata party,Aam Aadmi party,Communist Party Marxist, Bahujan Samaj Party and National Peoples Party. A registered political party in India is recognised as a National Party by Election Commission only when it satisfies atleast one of three conditions described below: First - If a party wins 2% of seats in Lok Sabha from atleast 3 different States. Second - In recent General Elections of Loksabha or Vidhan Sabha the party polls 6% of votes in any 4 or more states and in addition to it also wins atleast 4 Loksabha Seats. Third - The party gets recognition as a state party in atleast 4 states.
14. Supreme court Judge including Chief Justice is appointed by the president under Art 124 clause 2 on the basis of recommendation of Collegium of Supreme Court. High Court Judge including Chief Justice of High Court is appointed by President of India under Art 217 Clause 1. Ad-hoc Judges (not deemed to be Judges) are appointed under Art 127 by Chief Justice of Supreme Court for specified time or project. Supreme court of India was established on 26th January 1950 and it's first sitting was held on 28th January 1950. Art 124 to Art 147 deal with composition and Jurisdiction of Supreme Court of India . Harilal Kania was first Chief Justice of India. The present chief Justice of Supreme Court is DY Chandrachud (50th). Supreme Court of India is Apex court,highest court of Appeal,Protector of Fundamental Rights. It decides the conflicts between Union and States and among the States . Supreme Court is situated in Delhi. The strength of Supreme court Judges is 34 (33Judges and 1 Chief Justice). Judges of Supreme Court or High Court can be removed by President if such resolution is passed by majority of the respective strengths of Lok Sabha and Rajya Sabha and two third or more members present and voting in respective houses. A supreme Court Judge remains in his post till the age of 65 and High Court Judge till the age of 62. There is one Supreme Court and 25 High Courts in India. Supreme Court of India is situated in Delhi.
15. All India Services are constituted under Art 312 . Presently there are 3 All India Services - IAS (Indian Administrative Service),IPS (Indian Police Service) and IFS (Indian Forest Service). Any All India Services can be formed if such resolution is passed by Rajya Sabha with Special Majority and simply agreed upon by Lok Sabha.
16. UPSC (Union Public Service Commission) was established on First October 1926 under Government of India Act,1919 on the recommendation of Lee Commission,1924 . Lee Commission recommended appointment of 40%British,40% direct Indian recruitment and 20% promoted from provincial Services in Indian Civil Services. The first chairman of UPSC was Sir Ross Barker. The first woman chairman of UPSC was Rose Millian Bathew Kharbuli. The first Indian ICS (Indian Civil Servent) was Satyendra Nath Tagore. The first woman IAS was Anna Rajam Malhotra . UPSC and State Public Service Commission Structure, Organisation and functions has been described in part 14, Art 315 to Art 323 . Art 315 states about structure and organisation of UPSC and State Public Service Commission. Art 320 deals with functions of UPSC and State Public Service Commission. The functions of UPSC is to conduct Civil Services exams of All India Services, Central Services Group A , Group B . Traditionally it has been also conducting exams like IES (Indian Engineering Services), Indian Medical Services, NDA (National Defence Academy), CDS (Combined Defence Academy), CAPF AC, SCRA ,EPFO APFC EO etc. The chairman and members of UPSC are appointed by president of India under Art 316 . They remain in their post upto age of 65 years or 6 years of tenure which reaches earliest. The members or chairman of UPSC can be removed by the president on the recommendation of Supreme Court. The chairman and members of State Public Service Commission is appointed by Governor of that State. The members or chairman of State Public Service Commission can be removed by President on the recommendation of Supreme Court. The members or chairman of State Public Service Commission can remain in their posts till the age of 62 years or 6years tenure which reaches earliest. The functions of State Public Service Commission is to conduct Civil Services exams of the states . The present UPSC , Chairman is Manoj Soni.
17. The present RBI(Reserve Bank of India) Governor is Shaktikanta Das (25th). The first RBI Governor was Osborne Smith.The first Indian RBI Governor was CD Deshmukh. RBI was established under RBI Act 1934 on First April 1935 with an equity of Rs 5 crores. RBI is Central Bank of the country which regulates the entire Banking System of India. RBI is banker's bank . All commercial banks are customers of RBI .RBI operates on Minimum Reserve System (It has to keep 200 crores minimum as reserve in the form of hard foreign Currencies,gold coins ,gold billions since 1956). RBI was nationalized in 1949 . The headquarter of RBI is in Mumbai, Maharashtra. RBI formulates Monetary policy of India. It decides about the Quantum of currencies in the market . All notes except one rupee bear the sign of RBI Governor. One rupee note bears the sign of Finance Secretary. 15 languages are used on notes of India. RBI decides about the Bank Rate , Repo rate,Reverse Repo rate, Statutory Liquidity ratio (SLR),Cash Reserve Ratio (CRR) etc.
Bank rate - The rate at which RBI provides loan to commercial Banks in middle or long terms.
Repo rate - The rate at which RBI provides loans to commercial banks for short terms.
Reverse Repo rate - The rate at which Commercial Banks put their surplus funds with RBI .
SLR - Every Commercial Banks has to maintain certain fund as specified by RBI with itself to maintain sufficient Liquidity.
CRR - Every Commercial Banks has to maintain certain fund as specified by RBI with RBI as reserve . The name Reserve Bank comes from this fact that RBI keeps reserve of every commercial bank.
As per RBI Monetary Policy Committee report on 6th April 2023 :
Repo rate - 6.5% ; Bank Rate - 6.75% ;
Reverse Repo rate - 3.35%; Marginal Standing Facility Rate - 6.75% ; SLR - 18% ; CRR - 4.5% ; Standing Deposit Facility Rate - 6.25% ;
Base Rate - 8.65% to 10.10% ; MCLR(overnight) - 7.5 to 8.5% ; Saving Deposit Rate - 2.7%to 3%
Term Deposit Rate>1Year - 6 to 7.25 %
18. The first Lokpal was Pinaki Chandra Ghosh. Lokpal is appointed by a committee comprising PM, Chief Justice of Supreme Court and Lok Sabha Speaker. Lokpal is an anti corruption authority who represents Public Interest. Lokpal is responsible for enquiring into corruption charges at Union level while Lokayukta functions at State level. He is also called Ombudsman or People's friend. Anna Hazare movement in Ramlila Maidan in 2010 acted as a catalyst in passing the Act and office of Lokpal was formed on 19th March 2019. The present Lokpal is Pradip Kumar Mohanty. Headquarter of Lokpal is in New Delhi, India.
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