Bright Thought-1

Successful people maintain a positive focus in life no matter what is going on around them. They stay focused on their past successes rather than their past failures, and on the next action steps they need to take to get them closer to the fulfillment of their goals rather than all the other distractions that life presents to them.

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Newspaper monthly Vocab-4

1. Hew:-to shape (something) by cutting with a sharp tool (such as an ax)
Examples:-
(a)They hewed logs to build a cabin.
(b)The walls are built of stones hewn by  skilled craftsmen.
Synonyms: chop (down), cut (down), fell, mow

2. Emissary:-a person who is sent on a mission to represent another person or organization
Examples:-
(a)She acted as the president's  personal emissary to the union leaders.
(b)most of the industrialized nations of the world sent emissaries to the conference on global warming
Synonyms: agent, delegate, ambassador, envoy, legate, minister, representative

3. Imbue:-to cause (someone or something) to be deeply affected by a feeling or to have a certain quality
Examples:-
(a)A feeling of optimism imbues her work
(b)her training at the school for the deaf imbued her with a sense of purpose that she had never known before
Synonyms: endue (or indue), infuse, inculcate, ingrain (also engrain), inoculate, invest, steep, suffuse

4.Outlive:- to continue to exist longer than(something)
Examples
(a)No mother wants to outlive her children
(b)He outlived his wife by 10 years.

5. Wager:-an agreement in which people try to guess what will happen and the person who guesses wrong has to give something (such as money) to the person who guesses right
Examples:-
(a)He has a wager on the game.
(b)I don't  think  the  horse  will  win.  What's  your wager?

6. Bally:-not doing what is wanted or expected
Examples:-
a balky toddler who only seemed to know the word “no” when told to do something
Synonyms: disobedient, contrary, contumacious, defiant, froward, incompliant, insubordinate, intractable, obstreperous

7.Festoon:- (a)a long chain or strip of something(such as flowers or cloth) that is hung as a decoration
(b)to cover or decorate (something) withmany small objects, pieces of paper, etc.
Examples
(a)We festooned the halls with leaves and white lights.
(b)The balcony is festooned in ivy.
(c)His office is festooned with newspaper clippings.
Synonyms: adorn, array, beautify, bedeck, bedizen, blazon, caparison, deck, do, doll up, do up

8. Dungaree:-
1 :a heavy coarse durable cotton twill woven  from  colored  yarns;  specifically :blue denim
2: clothes made usually of blue denim

9. Bedouin:-a nomadic Arab of the Arabian, Syrian, or northern African deserts

10. Ensconce: to firmly place or  hide  (someone or  something)
Examples:-
(a)The sculpture is safely ensconced behind glass.
(b)He ensconced himself in front of the television.
Synonyms: install, lodge, nestle, perch,  roost, settle

11. Appendage:-(a)medical : a body part (such as an arm or a leg) connected to the main part of the body
(b) something connected or joined to a larger or more important thing
Examples:-
(a)The court system acts as an appendage to the government.
(b)an appendage of a larger political party
Synonyms: accoutrement, adapter (also adaptor), add-on, adjunct

12. Like a bat out of hell:-very fast or sudden.
Example:-
The car pulled away from the curb like a bat out of hell.

13. Dastardly:-very cruel : using tricks to hurt people
Examples:-
(a)a dastardly attack on innocent civilians
(b)his dastardly conduct in a critical moment haunted him for the rest of his life
Synonyms: chicken, chickenhearted, chicken-livered, craven, cowardly, gutless, lily-livered

14. At the wheel:-driving a vehicle
Example:-
Don't worry, Katie's at the wheel, and she is very good at driving in the snow.

15. Demeanour:-a person's appearance and behavior :the way someone seems to be to other people
Example:-
the director of the opera company has a haughty demeanor that can be irritating
Synonyms: actions, address, bearing, comportment, conduct

16. Escapade:-an exciting, foolish, or dangerous experience or adventure
Examples:-
(A)As a teenager he embarked on a series of ill-advised escapades.
(B)their escapades at the prep school became the stuff of boarding-school legend
Synonyms: antic, caper, capriccio, dido, prank, frolic, gag, jest, knavery, monkeyshine(s), practical joke

17.Whippet:- a small, fast dog that is used for racing

18. Staccato:-
(a)short and not sounding connected
(b)sudden and brief
Example:-
the staccato blasts of a horn

19. Scraggly:-growing in a way that is not neat and even : having a ragged  appearance
Example:-
He has a scraggly beard
Synonyms: broken, craggy, jagged, ragged, scraggy

20. To the tune of:- some amount of money
Example:-
They managed to fix the car, to the tune of nearly 2500.

21. Shudder: to shake because of fear, cold, etc.
Example:-
a shudder ran through him as he stepped outside into the snow
Synonyms: quiver, shiver, tremble

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PART-2 ---CLICK HERE

PART-3 ---CLICK HERE

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CL 2017 Mocks with solution

It is advisable to bookmark this link or download mocks available in the link.
DOWNLOAD HERE

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Play with sum - shortcuts

• Sum of first n natural numbers= n(n+1)/2
• Sum of first n even numbers=n(n+1)
• Sum of first n odd numbers=n^2
• Sum of square of first n natural numbers=[n(n+1)(2n+1)]/6
• Sum of square of first n even natural numbers= [2n(n+1)(2n+1)]/3
• Sum of square of first n odd numbers=[n(4(n^2) - 1)]/3
• Sum of cube of first n natural numbers={[n(n+1)]/2}^2
• Sum of cube of first n even natural numbers=2[n(n+1)]^2
• Sum of cube of first n odd natural numbers= (n^2)*[2(n^2)-1]

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Aimcats 2017 mocks(Time mocks)

Hello guys,
Bookmark this link or download mocks available in this link because link will not be available for long time as it is against t&
Link will be available for download everyday for 2-3 hrs
Thanks

DOWNLOAD HERE

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Sixth Bi-Monthly Monetary Policy Statement for financial year 2017-18.

Sixth Bi-Monthly Monetary Policy Statement announcement, the policy rates and reserve ratios are as follows:

Policy Repo Rate	6.00%	Unchanged – since 2ndAugust 2017
Reverse Repo Rate	5.75%	Unchanged – since 2ndAugust 2017
Marginal Standing Facility Rate	6.25%	Unchanged – since 2ndAugust 2017
Bank Rate	6.25%	Unchanged – since 2ndAugust 2017
Cash Reserve Ratio (CRR)	4.00%	Unchanged – since 9thFebruary 2013
Statutory Liquidity Ratio (SLR)	19.50%	With Effect from 14thOctober 2017

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List of joint defence exercises of India with other countries

Indian Navy Joint Exercises

• Varuna naval exercise is joint exercise of navies of France and India.
• SLINEX.-Sri Lanka India Naval Exercise 
• INDRA is a joint, bi-annual military exercise conducted by India and Russia
• Exercise Malabar is a bilateral naval exercise involving the United States and India.
• Simbex - Indian Navy with Republic of Singapore Navy
• IBSAMAR with the Brazil and South African navies.
• KONKAN - A bilateral Naval Exercise between Indian Navy and Royal Navy of Britain
• AUSINDEX-Indian and Australian Navy Bilateral Maritime Exercise
• Sahyog-Kaijin -Joint exercise of Coast Guards of India and Japan
• Naseem Al Bahr - Joint navy exercise of  India and Oman

Indian Air Force Joint Exercises

• The joint India-UK air exercises are known as the “Indradhanush” or “Rainbow”.
• Garuda- India-France Air Exercise 
• Avia Indra  the India-Russia maiden aerial exercise.
• Exercise Red Flag -Between Air Forces of India and the U.S.
• Siam Bharat -Indian Air Force and Royal Thailand Air Force
• Desert Eagle-  India and  UAE
• Eastern Bridge - India-Oman bilateral air exercise

Indian Army Joint Exercises

• Mithra Shakti exercise- India and Sri Lanka.
• Hand-in-Hand. -India-China joint military training exercise 
• Exercise Shakti - India and France armies
• Exercise Nomadic Elephant- Indian Army exercises with the Mongolian Army.
• Exercise Yuddh Abhyas -Joint exercises between the Indian and United States Armies since 2005.
• Surya Kiran - India Nepal joint military exercise
• LAMITYE- India and Seychelles
• Prabal Dostyk - India Kazhakhstan Joint exercise
• Al-Nagah- Joint military exercise between Indian and Oman
• Ajeya Warrior - India and UK
• SAMPRITI - India-Bangladesh joint military exercise
• AUSTRA HIND - Australia and India
• Khanjar -  between India and Kyrgyzstan

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PNB Scam- INR 11500 crore fraud

Q1Who is Nirav Modi?
Nirav Modi was ranked 57 in Forbes India's Richest People List 2016, with a net worth of $1.74 billion. He founded Nirav Modi chain of diamond stores across the globe, including Hong Kong, Macau, Kula Lumpur and Malasia, under parent company Firestar International. Famous for his glitzy style of branding, his designs have been worn by 'Hidden Figures' star Taraji P, Dakota Johnson, Kate Winslet. Bollywood's very own Priyanka Chopra and actor Sidharth Malhotra were brand ambassadors for his jewellery line.

Q2. Who is Mehul Chinubhai Choksi?
Mehul Choksi, the Managing Director of ‘Gitanjali Gems’ and also the maternal uncle of Nirav Modi

Important terms:-

1. Buyer’s Credit - Buyer’s credit is a short term credit raised by Importers from overseas lenders in USD at low interest rates to deploy their working capital requirements. The overseas banks usually lend the importer (buyer) based on the Letter of Undertaking (a bank guarantee) issued by the importer's bank 
2. Letter of Undertaking (LoU) - It is a guarantee given by a bank branch located in India to a bank situated overseas that it would meet the liability if the borrowing firm defaults. They are usually backed by collateral(security) or Cash margin. LoU to foreign banks are sent through SWIFT.
3. SWIFT - Society for Worldwide Interbank Financial Telecommunication. It is a network between banks worldwide which enables one bank to make payments or to send information about a financial transaction to another.

What is the scam:-

On 14th Feb’s morning, PNB made a startling revelation to various Stock Exchanges that it has detected a colossal fraud worth Rs 115 billion (Rs 11,500 crore) in one of its Mumbai branches which has been defrauded by jeweller Nirav Modi, his maternal uncle Mehul Chinubhai Choksi, and other relatives through some firms they own with the help of the bank employees.

Two employees of PNB Mumbai Branch issued LoUs in a fraudulent manner and instructed overseas banks to pass on Buyer’s Credit to three firms of Mr. Nirav Modi, without proper collateral & due diligence.The LoUs sanctioned carried monetary value of around INR 11500 Crore.

Now since PNB has issued LoUs (which are like a guarantee), they would have to pay back the entire amount which the Nirav Modi’s firms availed as buyer’s credit, in case they(the firms) fail to do so. So the entire Rs. 11500 Crore will now lie as Contingent Liability in the books of PNB.

How it was executed:-

PNB employees misused the SWIFT network to transmit messages & the LoUs to Hong Kong branch of Allahabad Bank, Axis Bank, and Union Bank of India bypassing the bank’s internal record system to avoid detection by not recording them in PNB’s core-banking system (CBS).

Hong Kong branches of the respective banks then lent USD to Modi’s firms based on the terms of the SWIFT message they received from PNB - Mumbai. Modi’s firms used the Buyer’s Credit to settle import bills & laundered the major proportion of Money. Now since all the 3 Firms have defaulted, it becomes liability of the PNB to settle the claim.

How PNB Suffers after this scam:-

• Share Price of PNB - After continuous fall for the fourth day straight, the shares of Punjab National Bank (PNB) recovered .4 per cent (55 points up) to Rs 117.05 
•   Bank’s Recapitalisation plan - A huge damage will be done to the Recapitalisation plan under which govt. had announced to inject INR 2.1 Lakh Crores into PSU Banks for their revival. Since the major part was to be received by the PNB, it will now raise several questions before the govt.

What actions were taken by PNB,CBI,Govt.:-

• The CBI booked billionaire diamond merchant Nirav Modi, his brother Nishal and wife Ami, and business partner and maternal uncle Mehul Chinubhai Choksi on February 5 for allegedly cheating Punjab National Bank of over Rs 280.7 crore during 2017. All of them were partners or linked with Nirav Modi's companies, Diamon R US, Solar Exports, Stellar Diamonds, and allegedly conspired with PNB officials to cause 'wrongful loss
• CBI arrested Vipul Ambani who worked as the president (finance) of Nirav Modi's Firestar Diamond.
• The ED searched Nirav Modi's Mumbai residence at Samudra Mahal apartments in Worli and seized fresh assets worth Rs 22 crore, taking the total seizure to Rs 5,716 crore as raids continue across the country. Stores and facilities of Nirav Modi's company across the country have been raided to find evidence in the case. 
• The CBI has questioned around 13 officials from PNB, of which one is General Manager Rajesh Jindal who was in-charge at the Brady House branch of the PNB in 2011.

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