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Assuming that you are preparing for bank recruitment tests, you should realize that there is a section on General Awareness that tests if you are aware of the happening around you. The happening on Economy, Sports, Industry, Trade and Policies. Who would assume that you will be a prospective bank hire without knowing the fundamentals of General Awareness? So, it is high time that you started taking the GK-in-Depth articles, and Daily GK Digest diligently. You are shown the resources, it is on you to utilize them. And, if you are planning to take MBA tests like CAT, FMS, XLRI, NMAT, even then the General Awareness plays a significant role in the Group Activity and interview rounds.

Taj Mahal, Uttar Pradesh (1983)

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  • Recognized as one of the Seven Wonders of the World, Taj Mahal is a notable tourist attraction not just in India but all over the world. It is a mausoleum and funerary mosque. The building of the Taj Mahal was commissioned for by Emperor Shahjahan in memory of his third wife after she died in 1631. The Taj Mahal exemplifies the principles of a Mughal architectural style while the edifice is made purely out of white marble. The overall architectural design combines elements from India, Persia and Islam. It took 16 years to build the Taj Mahal and is therefore one of the UNESCO World Heritage Sites in India.

Mountain Railways of India, (Himachal Pradesh, Sikkim, Tamil Nadu (1999, 2005 and 2008)

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  • This property is a combination of three railways in India that are located in the mountains. These railways were built in the 19th and 20th centuries. There are five mountain railways in India but only three were recognized by UNESCO. Of the five, three railways are part of the Himalaya Mountains in Northern India. Meanwhile, the other two are located in Southern India. These railways were noted for their bold engineering solutions by establishing a rail link in a rugged terrain.

Nanda Devi and Valley of Flowers National Parks, Uttarakhand (1988)

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  • This is another natural site listed as one of the UNESCO World Heritage Sites in India. It is a park consisting of two core areas: Nanda Devi National Park and Valley of Flowers National Park. There is also a buffer zone defined for each property in this listing. The first site was inscribed in 1988, which is Nanda Devi National Park. It was expanded in 2005 to include the Valley of Flowers National Park.

Sundarbans National Park, West Bengal (1987)

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  • This property is considered an important natural monument in India because it is a national park, tiger reserve and biosphere reserve. It is located in West Bengal, India. It is located adjacent to the Sundarban Reserve Forest in Bangladesh and close to the Ganges Delta. It is filled with mangrove forest and a giant reserve for Bengal tigers. Aside from the tigers, several species of birds, reptiles and invertebrates also inhabit the area. It was initially a tiger reserve but was declared a national park in 1984.

Western Ghats (2012)

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  • This mountain range is located on the western part of India. It is listed as one of the world’s “biodiversity hotspots” and is therefore listed under the Natural category for UNESCO World Heritage Sites in India. There are 39 properties in total that is included within this property, which includes wildlife sanctuaries, forest reserves and national parks.

Hill Forts of Rajasthan (2013)

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  • Located in Northern India, this World Heritage Site is composed of six forts: Chittorgarh Fort, Kumbhalgarh Fort, Ranthambore Fort, Gagron Fort, Amber Fort and Jaisalmer Fort. These forts are located within the Aravalli Range and date back to the 5th century AD. This property is listed under the Cultural category.

Rani ki vav – The Queen’s Stepwell, Gujarat

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  • Located in the town of Patan, this stepwell is listed as a cultural monument of India by UNESCO. It is intricately constructed near the banks of Saraswati River. It is a subterranean water resource and storage system that was ahead of its time upon its construction in the third millennium BC. It was constructed featuring the Maru-Gurjara architectural style that consists of seven levels of stairs and an inverted temple. There are also about 500 sculptures found within this property.

Great Himalayan National Park, Himachal Pradesh (2014)

This national park is another natural site listed as one of India’s UNESCO World Heritage Sites. It was among the recently inscribed sites to the list in 2014. The park itself was founded in 1984 and consists of alpine meadows, alpine peaks and riverine forests. The glacial and snow melt water is an important source for the water supply catchments below it. In addition, it is home to many species of mammals, birds, reptiles, mollusks, amphibians, and insects.

Nalanda, Bihar (2016)

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  • In 2016, three new sites were inscribed to the list of UNESCO World Heritage Sites in India. Nalanda is one of those sites. It is an archaeological site consisting of scholastic and monastic institutional remains that date back to the 3rd century BCE. Within the site, you will find art works, stuccoes, stupas, shrines and viharas. The site is believed to be an important example of the development of Buddhism as a religion and how it was used for educational and monastic purposes.

Khangchendzonga National Park, Sikkim (2016)

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  • This is another natural site to the list of UNESCO World Heritage Sites in India that is located in the Himalayan Mountain range. This national park houses the third highest peak in the world – Mount Khangchendzonga. It also offers unique diversity in terms of landscape ranging from plains to valleys and glaciers. Meanwhile, a huge part of the park is composed of snow-capped mountains.

The Architectural Works of Le Corbusier, Chandigarh (2016)

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  • The architectural works of Le Corbusier is one of those transnational properties. This particular listing is spread out to over 17 sites in 7 different countries. The other countries where these sites are located are Japan, France, Argentina, Belgium, Germany, and Switzerland.

Historic City of Ahmadabad (2017)

Ahmedabad World Heritage Site

  • The Historic City of Ahmadabad is a walled city in India, which was founded in the early 15th century by Ahmad Shah I of Gujarat Sultanate. It is the capital and an important political and commercial center of Gujarat. This urban settlement was recognized by UNESCO for its cultural value as continues to symbolize the heart of metropolitan Ahmedabad despite the threat of over-crowding from its surrounding areas.

Victorian and Art Deco Ensemble of Mumbai (2018)

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  • The Victorian Gothic and Art Deco Ensembles of Mumbai is a collection of 19th century Victorian Neo Gothic public buildings and 20th century Art Deco buildings in the Fort area of Mumbai in Maharashtra, India. This collection of the Victorian Gothic buildings and Art Deco buildings are set around the Oval Maidan, a large recreational ground that was once known as the Esplanade. The east of the Oval is flanked by the Victorian Gothic public buildings and the western side is flanked by the Art Deco buildings of Backbay Reclamation and Marine Drive.

Where are the others in the list?

Stay tuned to: https://conduiraonline.com/index.php/resources-for-gk/general-awareness

 

Published in General Awareness

Why should you read this topic?

Assuming that you are preparing for bank recruitment tests, you should realize that there is a section on General Awareness that tests if you are aware of the happening around you. The happening on Economy, Sports, Industry, Trade and Policies. Who would assume that you will be a prospective bank hire without knowing the fundamentals of General Awareness? So, it is high time that you started taking the GK-in-Depth articles, and Daily GK Digest diligently. You are shown the resources, it is on you to utilize them. And, if you are planning to take MBA tests like CAT, FMS, XLRI, NMAT, even then the General Awareness plays a significant role in the Group Activity and interview rounds.

RBI surprises with its Monetary Policy (October 2018):

  • After two successive rate hikes, the RBI monetary policy committee surprised the market by keeping the key policy rates unchanged, citing a benign inflation trajectory and downward revision to inflation projection.

  • The committee voted 5:1 to keep the rates unchanged, with only Chetan Ghate, professor at the Indian Statistical Institute, voting for a rate hike.

  • The central bank also changed its stance from ‘neutral’ to ‘calibrated tightening’, indicating that there will not be a rate cut in the near future.

Markets react negatively to RBI's move to keep policy rates unchanged:

  • India’s benchmark Sensex plunged a third day in a row in October 2018, after the Reserve Bank of India’s (RBI) policy review disappointed investors— even as it left key rates unchanged.

  • The central bank failed to provide concrete solutions to stop the depreciation of the rupee and resolve concerns over non-banking finance companies (NBFCs).

  • Investors felt the RBI could have been more concrete in pronouncing measures to tide over the recent concerns over NBFCs.

  • Many NBFC stocks have eroded value over the past weeks after IL & FS defaulted on loan payments.

  • This, coupled with a liquidity crisis, has weighed on NBFC stocks.

What is the relation between interest rate hike and depreciating rupee?

  • The Indian rupee has been one of the worst performing major emerging market (EM) currencies in 2018, and the worst in Asia-Pacific.

  • The central bank has been raising interest rates to match the rising interest rates in the US.

  • If RBI does not raise interest rates, the “yield differential” with the US might narrow, potentially prompting more capital outflows from India and further weighing on the rupee.

  • The central bank’s rate hikes have, however, complicated matters for India’s banking sector, already reeling under a massive bad debt problem. With more hikes in the offing, the already low credit growth figures could dip further.

  • The slowing down of domestic credit flow had prompted many firms to borrow abroad, and external commercial borrowings (ECBs) had emerged as an important source of alternative funding for Indian companies over the past few quarters.

  • But the rupee’s fall will make even that option more difficult, as it has raised external borrowing costs.

Will the Rupee remain weak?

  • Given that the current account deficit is likely to remain under pressure, the rupee is likely to remain weak for some time, raising external funding costs for Indian firms even as it feeds into domestic inflation.

  • While almost all emerging markets have witnessed capital outflows amid interest rate hikes in the US, one pattern stands out.

  • Countries with higher current account deficit appear to have been penalized more.

  • The recent worsening of India’s non-oil trade deficit suggests that the current account balance is likely to be under stress.

  • With oil prices expected to remain high, the outlook on the rupee appears bleak.

What is the rationality behind RBI's decision to hold rates?

  • Unlike in 2013 round of rupee depreciation, which was driven by "idiosyncratic factors", the troubles for the rupee are driven largely by global factors in the current round (2018).

  • With currency weakness largely driven by global factors and the real rate cushion already quite high in India, monetary tightening is not necessarily an effective instrument for limiting currency depreciation.

  • The depreciation of the rupee has been moderate in comparison to several other emerging market peers.

  • By end-September 2018, the rupee had depreciated in nominal effective terms by 5.6 per cent since end-March.

  • In real effective terms, the depreciation has been 5 per cent.

  • The central bank adopted a textbook line: Both governor Urjit Patel and Deputy Governor Viral Acharya reiterated the MPC’s mandate was flexible inflation targeting and the interest rate is a policy tool to be used to achieve the 4 percent consumer price index inflation target.

More Reading:

https://www.conduiraonline.com/index.php/detail/1688-indian-rupee-rising-crude-and-cad

https://www.conduiraonline.com/index.php/detail/1812-turkey-lira-and-emerging-markets

Courtesy:

https://www.moneycontrol.com/news/economy/policy/opinion-rbi-monetary-policy-review-a-message-lost-in-translation-3017791.html

https://www.livemint.com/Money/S3mZ8Tibfpw5iLRZz6hVOI/Markets-slide-continues-as-RBI-hold-rates-rupee-crosses-74.html

https://www.livemint.com/Money/glB9O4Bp6abJFjjt55pqWO/Why-a-falling-rupee-should-worry-us.html

https://economictimes.indiatimes.com/mf/mf-news/rbi-unlikely-to-hike-repo-rate-in-oct-despite-weak-inr/articleshow/65901214.cms

https://www.cnbc.com/2018/10/03/reserve-bank-of-india-rate-hike-wont-help-indias-rupee-experts.html

https://www.thehindubusinessline.com/money-and-banking/rbi-keeps-rates-unchanged-shifts-stance-to-calibrated-tightening/article25137871.ece

 

Published in General Awareness

Why should you read this topic?

Assuming that you are preparing for bank recruitment tests, you should realize that there is a section on General Awareness that tests if you are aware of the happening around you. The happening on Economy, Sports, Industry, Trade and Policies. Who would assume that you will be a prospective bank hire without knowing the fundamentals of General Awareness? So, it is high time that you started taking the GK-in-Depth articles, and Daily GK Digest diligently. You are shown the resources, it is on you to utilize them. And, if you are planning to take MBA tests like CAT, FMS, XLRI, NMAT, even then the General Awareness plays a significant role in the Group Activity and interview rounds.

Buddhist Monuments at Sanchi, Madhya Pradesh (1989)

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  • This site holds a collection of Buddhist monuments that date back from 200 to 100 BC. However, many believed that the site developed under the rule of Mauryan Empire in the 3rd century BC. Until the 12th century, these sanctuaries serve as active Buddhist religious monuments. You will find a variety of structures in the area including palaces, monasteries, temples and monolithic pillars.

Rock Shelters of Bhimbetka, Madhya Pradesh (2003)

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  • The Rock Shelters of Bhimbetka was inscribed as one of the UNESCO World Heritage Sites in India in 2003. It was recognized by UNESCO as a repository of rock paintings within sandstone formations expanding up to nearly 2000 hectares of land area. The paintings within these rock shelters are believed to date back to the Mesolithic period. The most interesting part about these paintings is that the 21 villages that surround the area strongly correlate to the subject of these paintings.

Khajuraho Group of Monuments, Madhya Pradesh (1986)

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  • These monuments were attributed to the Chandela dynasty in India. It was recognized by UNESCO as a World Heritage Site as it masterfully combines architecture and sculpture in its art form. There are a total of 85 temples built within this complex but only 22 survived. All of these temples have been around since the 10th century. It was inscribed by UNESCO in 1986 as artistic proof of the Chandela Culture in India.

Ajanta Caves, Maharashtra (1983)

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  • This is another cultural site listed as one of the UNESCO World Heritage Sites in India. This is a Buddhist cave system that was initially built in the 2nd century BC. The second phase of the cave was built in the 5th century AD. These caves showcase richly decorated paintings and frescoes. There are 31 rock-cut cave monuments found within the site, which are believed to be representative of Buddhist religious art.

Ellora Caves, Maharashtra (1983)

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  • Located in Maharashtra, this site is a blend of religious arts from the Jainism, Buddhism and Hinduism practices. The cave is home to 34 monasteries and temples that were sculpted into the rocks of the basalt cliffs. This site is notable for its reflection of the ancient civilization in India. It was inscribed by UNESCO as a World Heritage Site in 1983.

Elephanta Caves, Maharashtra (1987)

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  • This series of sculpted caves are located in Elephanta Island in India. There are two groups of caves on this site: one group consists of five Hindu caves and the other consists of two Buddhist caves. The rock-cut architecture used in both caves date back to the 5th century; however, it remains unknown as to exactly who built them. The group of caves underwent renovation in 1970 and was listed as a World Heritage Site to further aid in its preservation efforts.

Chhatrapati Shivaji Terminus – formerly Victoria Terminus, Maharashtra (2004)

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  • This historic railway station is located in Mumbai, India. It is also the headquarters for the Central Railways in India. This station is one of the busiest in the country. The station was designed during the late 19th century by architect Frederick William Stevens. The completion of this project took 10 years and was originally named after Queen and Empress Victoria. It features a Gothic architectural style and was named as a World Heritage Site in 2004.

Sun Temple, Konark, Orissa (1984)

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  • This is another temple complex listed as a cultural site by UNESCO. The temple itself is shaped like a gigantic chariot with details including walls, pillars and carved stone wheels. Majority of the temple is now in ruins. It was also included in the list of the Seven Wonders of India.

Keoladeo National Park, Rajasthan (1985)

This bird sanctuary is a famous attraction in India. It is one of few natural sites listed under UNESCO World Heritage Sites in India that was inscribed in 1985. Every year, there are thousands of birds that flock to the area especially during winter. Meanwhile, it also serves as home to over 230 species of birds. Even before it was declared a World Heritage Site, it is already a protected sanctuary since 1971.

Jantar Mantar, Jaipur (2010)

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  • This site is home to a collection of architectural astronomical instruments, in which the construction was commissioned for by Maharaja Jai Singh II. There are 5 facilities within in total that were built in different locations. The one in Jaipur is the largest and best preserved out of the five facilities. UNESCO described it as an “expression of the astronomical skills and cosmological concepts” during that time.

Great Living Chola Temples, Tamil Nadu (1987)

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  • There are three temples included in this site, all of which were built during the 11th to the 12th centuries. The temples are as follows: Brihadeeswarar Temple in Thanjavur, Airavateshwarar Temple and Brihadeeswarar Temple in Gangakondacholisvaram. All of these temples exemplify the architectural achievements of the Chola culture in India. It also showcases the other art forms they excelled in: bronze casting, painting and sculpture.

Group of Monuments at Mahabalipuram, Tamil Nadu (1984)

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  • Carved from a rock, this collection of monuments was founded by the Pallava kings during the 7th to 8th centuries. The most distinctive features of the complex are the temples shaped like chariots, together with the cave sanctuaries and open-air reliefs. Another notable monument in the site is the Temple of Rivage that features thousands of sculptures made to glorify Shiva.

Agra Fort, Uttar Pradesh (1983)

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  • The Agra Fort, also referred to as the Red Fort, is the best example of how the Mughal dynasty flourished in India. It serves as the reminder of that opulent power that the empire held throughout its reign. Thus, it is considered an important cultural monument; in 1983, it was listed as one of the World Heritage Sites in India. The fort is built from red sandstone and surrounded by towers, moats, palaces and mosques. It is located next to the bank of the Yamuna River.

Fatehpur Sikri, Uttar Pradesh (1986)

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  • This is a city in Agra district, which was founded in mid-16th century and served as capital for the Mughal Empire. However, the city was abandoned due to political unrest. After the victories are won, the construction of a new walled city was planned and it took 15 years to undergo planning and construction. It resulted in the construction of royal palaces, mosques, courts, private quarters and many other buildings. For this reason, the site is dubbed as the “City of Victory”.

Where are the others in the list?

Stay tuned to: https://conduiraonline.com/index.php/resources-for-gk/general-awareness

 

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