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VOCABULARY OF THE DAY – 18.12.2014

Word: Dogged (Adjective)

Definition: Having or showing tenacity and grim persistence.

Synonyms: Indefatigable, Staunch, Tenacious, Relentless

Antonyms: Irresolute, Surrendering, Unreliable


Example Sentence: Endless intrepid photographers and dogged tourists have been shooting the same picture from the same spot up on the terraces.

TOP HEADLINES –18.12.2014

1. Indian-American Amit Priyavadan Mehta has been confirmed by the US Senate as a federal judge in the District of Columbia, becoming the first Asian Pacific American to occupy this important position.

अमेरिकी सीनेट ने जिला कोलंबिया के संघीय न्यायाधीश के रूप में भारतीय-अमेरिकी अमित प्रियवादन मेहता के नाम को मंजूरी दे दी है। इसके साथ ही वह इस महत्वपूर्ण पद पर पहुंचने वाले एशिया प्रशांत मूल के पहले अमेरिकी बन गए हैं।

2. ‘Clean India Green India’ is the theme of the Indian government’s calendar for 2015 that was released by Information and Broadcasting Minister Arun Jaitley, who also launched a mobile app to download its digital version.

प्रधानमंत्री नरेंद्र मोदी की ‘स्वच्छ भारत अभियान’ पहल के तहत सरकार ने वर्ष 2015 के कैलेंडर की थीम ‘स्वच्छ भारत, हरित भारत’ रखी है। पहली बार इस कैलेंडर का डिजिटल स्वरूप एक मोबाइल एप के रूप में जारी किया गया। इसका उद्घाटन सूचना एवं प्रसारण मंत्री अरूण जेटली ने किया।

3. The Gujarat government announced a relief package of Rs. 1,100 crore for farmers in the State. The package includes Rs. 600 crore worth of subsidy on interest for agriculture loans and Rs. 500 crore on power bills.

गुजरात सरकार ने राज्य में किसानों के लिए 1,100 करोड़ रुपए के राहत पैकेज की घोषणा की। पैकेज में कृषि ऋण के लिए ब्याज पर 600 करोड़ रुपये और बिजली बिलों पर 500 करोड़ रुपये की सब्सिडी भी शामिल है।

4. According to private wealth consultancy Wealth-X Jack Ma, the founder and executive chairman of Chinese e-commerce major Alibaba, is 2014’s biggest financial gainer as the billionaire entrepreneur’s fortune has swelled by a whopping US $18.5 billion to US $29.2 billion.

निजी धन परामर्श कंपनी वेल्थ-एक्स के अनुसार चीनी ई-कॉमर्स प्रमुख अलीबाबा के संस्थापक और कार्यकारी अध्यक्ष जैक मा, 2014 के सबसे बड़े वित्तीय लाभ प्राप्तकर्ता हैं क्योंकि अरबपति उद्यमी की संपत्ति 18.5 बिलियन अमेरिकी डॉलर से बढ़कर 29.2 बिलियन अमेरिकी डॉलर हो गयी है।

5. Asia is set to surpass North America to become the world’s largest e-commerce market this year, according to the Economist Intelligence Unit (EIU). According to a report in Beijing by the EIU , an advisory company under the Economist magazine group, it is estimated that retail sales in Asia will grow by an average 4.6 per cent on a volume basis to $7.6 trillion, compared with 2.5 per cent in North America and 0.8 per cent in Europe in 2015.

इकनॉमिस्ट मैगजीन ग्रुप के अधीन अडवाइजरी कंपनी इकनॉमिस्ट इंटेलिजेंस यूनिट (ईआईयू) की रिपोर्ट में कहा गया है कि बहुत जल्द एशिया नॉर्थ अमेरिका को पछाड़ कर दुनिया की सबसे बड़ी ‘ई-कॉमर्स’ मार्केट बन जाएगा। ईआईयू की बीजिंग में पेश एक रिपोर्ट के अनुसार, यह अनुमान है कि एशिया में रिटेल सेल्स वॉल्यूम बेसिस पर औसत 4.6 प्रतिशत के रफ्तार से बढ़कर 7.6 ट्रिलियन डॉलर हो जाएगी जबकि 2015 में नॉर्थ अमेरिका में यह दर 2.5 प्रतिशत और यूरोप में 0.8 प्रतिशत रहने का अनुमान जाहिर किया गया है।

6. Bollywood actress Jacqueline Fernandez and former Supreme Court judge Justice KS Panicker Radhakrishnan have been given PETA India’s People of the Year award for their contribution towards the protection of animals. The American animal rights organization named Fernandez as ‘Woman of the Year’ and Justice (Retd) KS Panicker Radhakrishnan as ‘Man of the Year’.

बॉलीवुड अभिनेत्री जैकलिन फर्नांडीज और सुप्रीम कोर्ट के पूर्व न्यायाधीश न्यायमूर्ति के.एस. पणिक्कर राधाकृष्णन को जानवरों के संरक्षण की दिशा में उनके योगदान के लिए पेटा इंडियाज़ पीपल ऑफ द इयर के पुरस्कार से सम्मानित किया गया है। अमेरिकी पशु अधिकार संगठन ने फर्नांडीज को ‘वोमन ऑफ द इयर’ और न्यायमूर्ति (सेवानिवृत्त) के.एस. पणिक्कर राधाकृष्णन को ‘मैन ऑफ द इयर’ के रूप में नामित किया है।

7. Chinese pro-democracy activist Xu Youyu, who was among key signatories of a 2008 manifesto seeking sweeping political reforms in China, was awarded Sweden’s Olof Palme human rights prize.

चीन के लोकतंत्र समर्थक कार्यकर्ता जू योउहू जो चीन में व्यापक राजनीतिक सुधारों की मांग करने वाले 2008 के घोषणा पत्र के प्रमुख हस्ताक्षर करने वालों में शामिल थे, को स्वीडन के ओलोफ पाल्मे मानव अधिकार पुरस्कार से सम्मानित किया गया था।

8. Madhya Pradesh has bagged Krishi Karman award for 2013-14 for excelling in wheat production. State has been has been conferred with the award in 2011 and 2012 for excelling in food grains production. With this MP has won the prestigious award for the third consecutive year.

मध्यप्रदेश को गेहूं उत्पादन में उत्कृष्ट कार्य के लिए वर्ष 2013-14 के प्रतिष्ठित कृषि कर्मण अवॉर्ड के लिए चुना गया है। वर्ष 2011 और 2012 में भी मध्यप्रदेश को समग्र खाद्यान्न उत्पादन में श्रेष्ठता के लिए यह प्रतिष्ठित पुरस्कार मिल चुका है। इसी के साथ एमपी ने लगातार तीसरे वर्ष के लिए प्रतिष्ठित पुरस्कार जीता है।

9. Naib Subedar Azad Singh of 2 Signal Training Centre Goa broke the Guinness World Record for travelling the farthest distance balancing a football on the head. The earlier record had seen set by Abdul Halim of Bangladesh, who travelled 15.2 Km balancing a football on the head at the Bangabandhu National Stadium in Dhaka on October 22, 2011.

सेना के दो सिग्नल ट्रेनिंग केंद्र गोवा के नायब सूबेदार आजाद सिंह ने सिर पर फुटबॉल को रखकर संतुलित करते हुए सबसे अधिक दूरी तक चलने का गिनीज विश्व रिकॉर्ड बनाया। इससे पहले का रिकॉर्ड बांग्लादेश के अब्दुल हलीम के नाम था जिन्होंने 22 अक्टूबर 2011 को ढाका के बंगबंधु स्टेडियम में सिर पर फुटबॉल रखकर 15.2 किलोमीटर की दूरी तय की थी।

10. According to Energy and Mining Minister Rajendra Shukla the world’s biggest 750 mega watt (mw) solar power station will come up in Rewa district’s Gudh area, Madhya Pradesh.

ऊर्जा और खनन मंत्री राजेंद्र शुक्ला के अनुसार दुनिया का सबसे बड़ा 750 मेगा वाट का सौर ऊर्जा स्टेशन रीवा जिले के गुढ क्षेत्र, मध्य प्रदेश में स्थापित किया जाएगा।

KYO (Know Your Organization) -OECD

The Organization for Economic Co-operation and Development (OECD) is an international economic organization of 34 countries founded in 1961 to stimulate economic progress and world trade. It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members.

The OECD originated in 1948 as the Organization for European Economic Co-operation (OEEC), led by Robert Marjolin of France, to help administer the Marshall Plan (which was rejected by the Soviet Union and its satellite states). This would be achieved by allocating American financial aid and implementing economic programs for the reconstruction of Europe after World War II, where there had been similar efforts in the Economic Cooperation Act of 1948 of the United States of America, which stipulated the Marshall Plan that had also taken place elsewhere in the world to war-torn Republic of China and post-war Korea,but the American recovery program in Europe was the most successful one.
 
In 1961, the OEEC was reformed into the Organization for Economic Co-operation and Development by the Convention on the Organization for Economic Co-operation and Development and membership was extended to non-European states. Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.

The OECD’s headquarters are at the Château de la Muette in Paris, France.

Objectives of Nationalization of Banks in India

The government of India has nationalized 14 major banks on July 19, 1969 which had deposits of more than Rs 50 Crore and Six more Banks were nationalized on April 15, 1980 which had deposits of Rs. 200 Crore. After nationalization, government had acquired full ownership over these banks. These banks are now controlled and owned by government of India.

Name of Banks which were nationalized in 1969 are as follows:

  • Punjab National Bank
  • Canara Bank
  • Dena Bank
  • Bank of Baroda
  • United Bank of India
  • Bank of Maharashtra
  • Syndicate Bank
  • Union Bank
  • Central Bank
  • United Commercial Bank
  • Bank of India
  • Indian Overseas Bank
  • Indian Bank
  • Allahabad Bank

Name of Banks which were nationalized in 1980 are as follows:-

  • Oriental Bank of Commerce
  • Corporation Bank
  • Andhra Bank
  • Punjab & Sindh Bank
  • Vijaya Bank
  • New Bank of India

After the merger of New Bank of India with Punjab National Bank in 1993, now the number of nationalized banks has been reduced to 19.

Objectives of Nationalization of Banks were as follows:-

  • To raise public confidence in banking system
  • To mobilize savings from the rural and urban areas in terms of bank deposits.
  • To Expand banking facilities in rural and sub-urban areas.
  • To give more credit to the priority sectors, like agriculture, small industries and traders.
  • To ensure enough development funds for the planned growth of the country.
  • To decentralize economic power. It is a step to break the control of big industrialists upon the banking system.
  • It reduces regional inequalities and helps the poor.

What is Commercial Bank? – Functions of Commercial Banks
Commercial Banks refer to both scheduled and non-scheduled commercial banks which are regulated under Banking Regulation Act, 1949. Bank Offices comprise of branches doing banking business (i.e. accepting deposit and/or offering credit to their customers) and administrative offices.

1. Scheduled Commercial Banks
Scheduled Commercial Banks are as follows :

  • State Bank of India and its Associates (Public Sector Bank)
  • Nationalised Banks (Public Sector Banks)
  • Foreign Banks
  • Regional Rural Banks
  • Other Scheduled Commercial Banks (Private Sector Banks)

2. Non-Scheduled Commercial Banks
Functions of the Commercial Banks

  • Primary Functions of  Commercial Banks
  • Secondary Functions of Commercial Banks

          1. Agency Functions
          2. General Utility Functions

Primary Functions of Commercial Banks

The primary functions of the commercial banks include the following:
1. Accepting Deposits
The bank collects deposits from the public. These deposits can be of different types, such as :-

  • Saving Deposits
  • Current Deposits
  • Fixed Deposits
  • Recurring Deposits: Recurring Deposits are a kind of Term Deposits offered by banks in India in which you have to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits. It is similar to making FDs of a certain amount in monthly installments, for example Rs 2,000 every month.

2. Granting of Loans and Advances
The bank advances loans to the business community and other members of the public. The rate charged is higher than what it pays on deposits.
The types of bank loans and advances are as follows :-

  • Loans
  • Overdraft: Overdraft facility is a credit given to an individual against his or her assets as collateral with banks. As collateral, you can offer you house, insurance policies, bank fixed deposits, shares and bonds, etc to banks. However, interest rates charged and overdraft sanctioned by banks vary on each of the collateral.
  • Cash Credits: This account is the primary method in which Banks lend money against the security of commodities and debt. It runs like a current account except that the money that can be withdrawn from this account is not restricted to the amount deposited in the account. Instead, the account holder is permitted to withdraw a certain sum called “limit” or “credit facility” in excess of the amount deposited in the account.
  • Discounting of bill of exchange: A bill of exchange is an order by the creditor (usually the exporter) to the debtor (the buyer) to pay a debt at a certain date.

If the drawer of the bill does not want to wait till the due date of the bill and is in need of money, he may sell his bill to a bank at a certain rate of discount. The bill will be endorsed by the drawer with a signed and dated order to pay the bank. The bank will become the holder and the owner of the bill. After getting the bill, the bank will pay cash to the drawer equal to the face value less interest or discount at an agreed rate for the number of days it has to run. This process is known as discounting of a bill of exchange.

Secondary Functions of Commercial Banks

The bank performs a number of secondary functions, also called as non-banking functions. These functions are as follows:
1. Agency Functions
The bank acts as an agent of its customers. The bank performs a number of agency functions which includes:-

  • Collection of Cheques ,
  • Interest etc on behalf of their customer,
  • Purchase and sale of securities,
  • Trustee and executer,
  • Purchase and sale of foreign exchange,
  • letter of references etc.
  • Transfer of Funds
  • Periodic Payments & Collections
  • Portfolio Management
  • Periodic Collections
  • Representation of clients to deal with other banks and institutions.

2. General Utility Functions
The bank also performs general utility functions and these are as follows:-

  • Underwriting of Shares
  • Locker Facility
  • Dealing in Foreign Exchange
  • Issue of Drafts, Letter of Credits, etc.
  • Social Welfare Programmes etc
  • Issuing of gift cheques,
  • Merchant banking services etc

Insurance Exam General Awareness Syllabus 2014

Dear Readers,  Most of the students are unaware of Insurance Exam General Awareness Syllabus. Be it Life Insurance Corporation, General Insurance, New India Assurance, National Insurance or United India Insurance exams. Every exam has the similar General Awareness Exam Syllabus.

Insurance General Awareness and IBPS Clerk PO General Awareness are totally different.

So, what is the syllabus of General Awareness in Insurance AO and Assistant Exam?

Here it goes.

General Awareness mainly has 4 Sections.

1. Insurance History – Questions related to the history of Insurance in India and Major Insurance companies in India. Regulatory bodies, insurance taglines and etc.

2. Insurance Awareness – Current Affairs related to Insurance industry. This is not the regular current affairs news you are getting from various website. This is specific Insurance Industry news.


3. General Knowledge – General Knowledge will be there consisting Stock GK i.e History, Politics, Economics, Geography and Science. However, very basic GKs are regular in these exams.

4. Current Affairs – Current affairs will consists similar questions to Banking Exams. Current affairs will have news related to RBI, SEBI and Other Regulatory bodies.

Self Help groups (SHGs) in India

Self Help groups (SHGs) in India

Objectives & Features of SHGs

A Self Help Group is an association of the poor people specially women who belong to the same social & economic background. The SHGs are usually informal groups of a locality or area, whose members have a common need and importance towards collective action. These groups normally consist of 10 to 20 members. Members of the group meet regularly, make their share of contribution. The SHGs bank linkage model has become famous in rural areas where as without bank linkage SHGs are also functioning.

The SHG promotes small saving among its members, which are then kept with a bank. This common fund is then given a name. SHGs have been generally formed for specific issues. The main purpose of SHGs is to mobilize savings among their members and used resources to meet the emergent credit needs of the members of the group. SHGs generally work according to the local requirement.

Objectives :-

The Objectives of Forming SHG are as Follows

  •   To build mutual trust and confidence between the bankers and the rural poor people.
  •  To encourage banking activities in a segment of the population in which formal financial institutions fell difficult to cover.

Some Common Features of The Functioning of SHGs are as Follows:

  •  The SHGs create the common fund by contributing their small savings.
  •  Every member of the group actively participates in the functioning of SHGs and they meet regularly.
  •  Their accounts and proceeding are maintained by the leader and leader is selected or elected among the group members.
  •  Amount of loans are small and for short period.
  •  Loan is sanctioned on ‘trust’ with minimum documentation and without any security.
  •  The rate of interest differs from group to group. It is generally little higher than that of charged by banks.
  •  Repayment of loan amount is generally on time.

TOP HEADLINES –17.12.2014

1. United Bank of India and Dhanlaxmi Bank top the list of public and private sector lenders with maximum incidence of bad loans. Among the foreign banks, Firstrand Bank had the ‘worst’ gross Non-performing Assets (NPAs) of 25.93 per cent at the end of September 2014, Minister of State for Finance Jayant Sinha said in a written reply to the Rajya Sabha.

यूनाइटेड बैंक ऑफ इंडिया और धनलक्ष्मी बैंक अधिकतम अशोध्य ऋण के साथ क्रमशः सार्वजनिक और निजी क्षेत्र के उधारदाताओं की सूची में शीर्ष पर हैं। विदेशी बैंकों में, सितम्बर 2014 के अंत में फर्स्ट्रैॆड बैंक का एनपाए 25.93 फीसदी पर ‘सबसे खराब’ रहा, वित्त राज्य मंत्री जयंत सिन्हा ने राज्यसभा में एक प्रश्न के लिखित उत्तर में कहा।

2. Axis Bank, India’s third largest private sector Bank, has opened its first All Women Branch in Patna, Bihar. Axis Bank’s overall market share in mobile transactions stands at 13%, as on September, 2014, the bank statement said.

भारत के तीसरे सबसे बड़े निजी क्षेत्र के बैंक एक्सिस बैंक, ने पटना, बिहार में अपनी पहली सर्व महिला शाखा खोली है। बैंक के बयान के अनुसार, सितंबर, 2014 की स्थिति के अनुसार, मोबाइल लेनदेन में एक्सिस बैंक की कुल बाजार हिस्सेदारी 13% है।

3. Wholesale price inflation hit a zero level in November, the lowest in about five and half years, on account of decline in prices of food, fuel and manufactured items. The Wholesale Price Index (WPI) based inflation was at 1.77 per cent in October and 7.52 per cent in November 2013.

थोक मूल्य सूचकांक आधारित मुद्रास्फीति नवंबर में शून्य पर आ गई। यह साढ़े 5 साल का न्यूनतम स्तर है। यह मुख्य तौर पर खाद्य, ईंधन और विनिर्माण उत्पादों के कारण हुआ। थोक मूल्य सूचकांक आधारित मुद्रस्फीति अक्टूबर में 1.77 प्रतिशत पर थी, जो नवंबर 2013 में 7.52 प्रतिशत थी।

4. At least 126 people were killed and 122 injured on Tuesday in an attack by Taliban militants on a Pakistani high school, in Peshawar a provincial official said.

पाकिस्तान के पेशावर में आर्मी स्कूल पर मंगलवार को आतंकियों ने हमला कर दिया। आतंकी स्कूल में घुस गए और बच्चों तथा शिक्षकों को बंधक बना लिया। इस हमले में 126 मारे गए लोगो में 100 बच्चों के होने की खबर है।

5. Enjoying the strong backing of a partisan crowd of 7,000 in a city designed by German architect Otto Konigsberger, Olympic champion Germany made itself at home to see Pakistan off 2-0 in the final and lift the Champions Trophy at the Kalinga Stadium here on Sunday.

ओलंपिक स्वर्ण पदक विजेता जर्मनी ने पाकिस्तान को 2-0 से हराकर चैम्पियंस ट्रॉफी पुरुष हॉकी खिताब जीत लिया। जर्मनी के लिए पहला गोल 18वें मिनट में क्रिस वेसले ने पेनल्टी कॉर्नर पर किया जबकि दूसरा गोल फ्लोरियन फुश ने हूटर से तीन मिनट पहले दागा।

6. Bollywood actress and former beauty queen Aishwarya Rai Bachchan was felicitated for being the most successful Miss World at this year’s pageant.

बॉलीवुड अभिनेत्री एवं पूर्व विश्व सुंदरी ऐश्वर्या राय बच्चन को सबसे अधिक सफल विश्व सुंदरी होने के लिए इस वर्ष की प्रतियोगिता के दौरान सम्मानित किया गया।

7. To promote electronic payments, the Reserve Bank today increased RTGS business hours to 12 hours from 8 am to 8 pm on weekdays, effective December 29. On Saturdays, the RTGS (real time gross settlement) system of online fund transfer will be open from 8 am to 3.30 pm, the RBI said in a circular.

इलेक्ट्रॉनिक पेमेंट को बढ़ावा देने के लिए रिजर्व बैंक ने ऑनलाइन पैसे ट्रांसफर करने का समय बढ़ा दिया है। अब ऑनलाइन फंड ट्रांसफर सप्ताह के दिनों में सुबह 8 बजे से रात 8 बजे के बीच हो सकेगा। शनिवार को यह सुविधा सुबह 8 बजे से दोपहर 3.30 बजे तक मिल सकेगी। नई व्यवस्था 29 दिसंबर से लागू होगी।

8. Vivek Murthy has made history as the youngest US Surgeon General and the first of Indian descent with his Senate confirmation in the teeth of strong opposition of powerful gun lobby.

अमेरिकी सीनेट ने देश के 19वें सर्जन जनरल के रूप भारतीय मूल के अमेरिकी डॉक्टर विवेक हैलगेर मूर्ति के नाम को मंजूरी प्रदान कर दी है। इस पद पर पहुंचने वाले वह सबसे युवा और भारतीय मूल के पहले व्यक्ति हैं।

9. As India continues its pursuit of suspected black money stashed abroad, an international think-tank has ranked the country third globally with an estimated USD 94.76 billion (nearly Rs 6 lakh crore) illicit wealth outflows in 2012.

थिंक टैंक ग्लोबल फिन की रिपोर्ट के मुताबिक कालेधन की सूची में भारत दुनिया में तीसरे स्थान पर है। ग्लोबल फिन की रिपोर्ट के मुताबिक भारत से पिछले 10 साल में 28 लाख करोड़ बाहर भेजे गए। यह रुपये 2003 से 2012 की अवधि के दौरान देश से बाहर गए।

10. Amitabh Bachchan was honoured with International Icon of the Year at the Sansui COLORS Stardust Awards here. Veteran actress Asha Parekh, on the other hand, walked away with Lifetime Achievement award.

अभिनेता अमिताभ बच्चन को सेंसुई कलर्स स्टारडस्ट अवार्ड समारोह में ‘इंटरनेशनल आइकन ऑफ द इयर’ का खिताब दिया गया। इसी समारोह में अनुभवी अभिनेत्री आशा पारेख को लाइफटाइम अचीवमेंट अवार्ड दिया गया।

ANSWER KEY D-BAT(DAILY BANKING AWARENESS TEST): 16-12-2014

ANSWER KEY D-BAT(DAILY BANKING AWARENESS TEST): 16-12-2014

Q.1.Who has been re-elected for a third term as the Prime Minister of Japan?

Ans: (1) Shinzo Abe

Q.2. ___________clinched the Hero Champions Trophy Men’s title with a convincing 2-0 win over Pakistan in the summit clash.

Ans: (3) Germany

Q.3. Amid a deepening political crisis Haiti’s prime minister, ________given his resignation.

Ans: (4) Laurent Lamothe

Q.4. From the year 2019, the prestigious Nobel prize will be awarded at a new center which is to be built at a cost of over ___________in the Swedish capital.

Ans: (1) $150 million

Q.5. For which film Indian filmmaker Chaitanya Tamhane won the Best Film and the Best Director awards at the Singapore Silver Screen Awards?

Ans: (2) Court

Q.6.Fourteen year-old Mima Ito and Miu Hirano became the youngest ever winners at the $1 million table tennis World Grand Finals in Bangkok. They belog to which of the following countries?

Ans: (3) Japan

Q.7. FIIs net investment in the Indian equity market is set to exceed Rs. 1 lakh crore for a third straight year. Expand FIIs.

Ans: (3) Foreign Institutional investors

Q.8. Which of the following has been once again awarded the prestigious Thomson Reuters India Innovation Award- 2014 in category of “Research Institutions”.

Ans: (2) DRDO

Q.9.  Oil India Ltd, the second largest state explorer, has signed contract for two offshore oil and gas blocks it had bagged in______________.

Ans: (4) Myanmar

Q.10.Who has been appointed as Intelligence Bureau’s new Chief?

Ans: (1) Dineshwar Sharma