Current Affairs and General Knowledge for June 2015. Part-2

1. India Secures Top-Most Ratings for Financial Market Norms: Study: India‘s financial market regulatory framework received the top-most ratings from the global bodies of banking and capital market regulators, with the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi) being rated better than their peers in China and the US.

2. RBI allows NRIs to invest in chit funds: The Reserve Bank allowed non-resident Indians (NRIs) to invest in chit funds on non-repatriation basis without any ceiling, a move that will encourage flow of capital into the country. However, the subscription to the chit funds should be brought in through normal banking channel, including through an account maintained with a bank in India

3. India, Japan and Australia held first ever trilateral dialogue: India, Japan and Australia on 9 June 2015 held their first ever high level trilateral dialogue in New Delhi. The talks were attended by Indian foreign secretary S Jaishankar, Japanese vice foreign minister Akitaka Saiki and Australian secretary of the Department of Foreign Affairs and Trade Peter Varghese.

4. Prof S Bandyopadhayay appointed as Director of Indian Statistical Institute (ISI): Prof Sanghmitra Bandyopadhayay was appointed as the Director of Indian Statistical Institute (ISI) by the Union Ministry of Statistics and Programme Implementation (MOSPI). She is the first woman to lead the institute and replaced Dr Bimal K Roy who was removed on charges of indiscipline.

5. US becomes world’s largest oil producer, surpasses Saudi Arabia: BP Report : The United States has overtaken Saudi Arabia as the world‘s biggest oil producer in 2014. while India has recorded the highest growth in energy consumption among major economies.

6. Sir Wesley Winfield Hall Inducted into ICC Hall of Fame: Former West Indies fast bowler Sir Wesley Winfield Hall was inducted into the ICC Cricket Hall of Fame. He is 80th cricketer to be inducted in the ICC Cricket Hall of Fame and 18th from West Indies.

7. Industrial Production grew at two months high touching 4.1 % in April: Industrial production touched a two month high at 4.1 percent in April with manufacturing and capital goods showing a good performance. Retail inflation inched up to 5.01% in May from 4.87 in April.The index of industrial production (IIP) also corroborates – a 46% annual increase in the indirect tax collection in April.

8. Bibek Debroy committee on restructuring of Indian Railways submitted its report: Bibek Debroy Committee on the restructuring of Indian Railways has submitted its final report to the Union Ministry of Railways. The committee has suggested measures for restructuring the Railway Board and its departments so that policy making is separated from day-to-day operations. Recommendations of Bibek Debroy committee : Establishment of an independent regulator Railway Regulatory Authority of India (RRAI) with a separate budget and to be independent of the Ministry.

9. Coal India now sixth- largest mining company in world: Coal India Limited has become world‘s sixth largest mining company in terms of market capital according to recent PwC report. Earlier, CIL was at 8th spot among top 40 global mining firms. Another government company, National Mineral Development Corporation Ltd is at 21st spot in the list. NMDC is the country‘s top iron ore miner.

10. V K Singh inaugurates first India-China Yoga College at Yunnan Minzu University, China: Minister of State (MoS) for External Affairs V K Singh inaugurated first India-China Yoga College at Yunnan Minzu University in Kunming, China. This is first Indian government institution related Indian spiritual art form i.e. Yoga in China inaugurated ahead of the first UN Yoga Day to be observed on June 21.

11. Robin soars as Britain’s choice of national bird: The red chested bird, Robin, has been selected as Britain‘s National Bird. In an online voting, Robin emerged as winner with 34% votes among 60 birds of the list.

12. China tests supersonic N-delivery vehicle: The Chinese Defence Ministry has confirmed the test of a supersonic nuclear delivery vehicle, a move described by the US as an ―extreme manoeuvre‖ amid tension in the South China Sea. The fourth successful test of hypersonic glide vehicle — which the US has dubbed the ―Wu-14‖ — was carried out on. It was the People Liberation Army‘s fourth test of the weapon in 18 months.

13. FDI inflows in services sector increased by 46 per cent in 2014-15: Department of Industrial Policy and Promotion data: With the government taking steps to improve ease of doing business and attracting investments, FDI inflows into the services sector grew by over 46 per cent to USD 3.25 billion in 2014-15. The services sector, which includes banking, insurance, outsourcing, R&D, courier and technology testing, had received foreign direct investment (FDI) worth USD 2.22 billion in 2013-14.

14. Onion exports hit nine-year low with 20 per cent decline in 2014-15: The country registered its lowest export of onions in the past nine years during financial year 2014-15. The decline was as much as 20 per cent as compared to the previous year.

15 Gold imports tick up 10.47 per cent to $2.42 billion in May: Gold imports grew 10.47 per cent to USD 2.42 billion in May on declining prices and easing of restrictions by RBI. Imports of the precious metal stood at USD 2.19 billion in the same month of 2014. In April this year, the imports grew 78.33 per cent to USD 3.13 billion. Any increase in gold imports impacts the current account deficit (CAD). CAD in the first half of last fiscal declined to 1.9 per cent of GDP (USD 18 billion) from 3.1 per cent (USD 27 billion) in the same period of the previous year.

16 India has fourth largest ultra-high-net-worth households: Report: India is home to the fourth largest number of ultra-high-net-worth households that have more than 100 million dollars in private wealth, according to a new report topped by the US. The Boston Consulting Group’s ‘Global Wealth 2015: Winning the Growth Game’ report said continued economic expansion of China and India was driving growth in wealth in the Asia- Pacific region.

17 Trade deficit shrinks; exports fall for sixth month in a row: Continuing its declining trend, India‘s exports shrank by about 20.19 per cent in May to USD 22.34 billion, marking a fall for the sixth straight month. The slump in exports is mainly due to global slowdown, dip in crude oil prices and rupee appreciation.

18 National Solar Mission Target Change from 20,000 MW by 2021-22 to 1,00,000 MW: The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, gave its approval for stepping up of India‘s solar power capacity target under the Jawaharlal Nehru National Solar Mission (JNNSM) by five times, reaching 1,00,000 MW by 2022.

19 BSNL to set up 40,000 wi-fi hot spots India: State owned telecommunications giant Bharat Sanchar Nigam Limited (BSNL) has announced to set up 40,000 Wireless Fidelity (Wi-Fi) hot spots across the country. This project will come in lines with new digital architecture which is part of Union Government‘s flagship Digital India Programme. The 40,000 wi-fi hot spots project will be entailed with an investment of about 6,000 crore rupees. The project is likely to be completed by 2018. It was announced by Union Minister of Communications & IT Ravi Shankar Prasad .

20 Election Commission suspends recognition of PA Sangma-led National People’s Party: Election Commission of India (ECI) has suspended recognition of the PA Sangma-led National People‘s Party (NPP) which was a recognized state party in Meghalaya. The recognition of NPP was suspended under para 16A of the Election Symbols (Reservation and Allotment) Order, 1968 after the party failed to file the election expenditure statement incurred in 2014 Lok Sabha elections.

21 Assam Govt to introduce Right to Health Services: With a view to provide affordable, accessible, accountable and quality health care services to all sections of the people, Assam Chief Minister Tarun Gogoi announced the decision of the state government to introduce Right to Health Services. The government has already instructed the health and family welfare department to ensure better treatment and better medicines to reduce maternal mortality rate, infant mortality rate and improve the overall health scenario of the state.

22 Charles Correa, one of India’s greatest architects, dies at 84: Charles Correa, one of India‘s greatest architects and urban planners, died . He was 84. Correa was one of the major advocates of what he called the open-to-sky space concept, which was reflected in his work across the world. He was the first chairman of the National Commission on Urbanisation.

23 Government plans 20 million houses for urban poor: The Union Cabinet approved the launch of the ―Housing for All by 2022‖ programme for the rehabilitation of slum-dwellers and promotion of affordable housing for the urban poor. The target is to provide nearly 20 million houses over seven years.

24 Archana Ramasundaram to head National Crime Records Bureau: Archana Ramasundaram, a 1980-batch IPS officer of Tamil Nadu cadre, has been posted as Director, National Crime Records Bureau (NCRB), New Delhi.

25 Import duty on select steel items hiked : The Union Government has increased the import duty on certain steel products by 2.5 per cent, effective from June 16 in a bid to stem surging imports mainly from China and protect the domestic industry, which is reeling under profit pressure. According to a notification, the government has increased the duty on long steel, which is used in construction industry, energy and automotive, to 7.5 per cent from 5 per cent.

26 Two panels to facilitate rollout of Goods and Services Tax: Union Finance Minister Arun Jaitley has approved the formation of two committees to facilitate the implementation of the Goods and Services Tax (GST) from next April. A steering committee, chaired by the Additional Secretary, Department of Revenue, and the Member Secretary of the Empowered Committee of State Finance Ministers, will monitor the setting up of IT infrastructure for the GST network, the Central Board of Excise and Customs and other tax authorities. The committee will monitor the progress of consultations with stakeholders such as trade and industry and the training of officers. The other committee, chaired by Arvind Subramanian, Chief Economic Adviser, will recommend possible tax rates under the GST that would be consistent with the present level of revenue collected by the Centre and the States.

27 Bandhan Financial Services to start bank on August 23: Microfinance company, Bandhan Financial Services Ltd,, said that it got the final nod from the Reserve Bank of India (RBI) to set up a universal bank. The bank is planned for launch in Kolkata — the city where Bandhan is headquartered — on August 23. Bandhan had received the RBI‘s in- principle licence in April 2014.

28 Government okays inclusion of three states under national dairy plan: The government approved a proposal for inclusion of Uttarakhand, Jharkhand and Chhattisgarh in dairy development programme while extending the National Dairy Plan-1 for two more years. National Dairy Plan-1, a central scheme, was approved for implementation in 15 milk potential states by National Dairy Development Board (NDDB) with an outlay of Rs 2,242 crore for a period of six years from 2011-12 to 2016-17.

29 India emerges as UK’s third largest FDI source in 2014: The UK said it has maintained its position as the number one destination for FDI in Europe after attracting a record number of projects from over 70 countries including India, bringing in the largest financial value and associated jobs over the past year. Investment from India increased by 65 per cent, making it the UK’s third largest source of FDI accounting for over 9,000 new and safeguarded jobs. This is the highest in Europe and the third in the world after the United States and China.

30 Violence cost India’s economy $342 billion in 2014: Report: Violence hit India where it hurts the most – it impacted the economy to the tune of $341.7 billion in 2014, according to the Institute for Economics and Peace (IEP). The country has been ranked at a lowly 143 out of 162 nations in this year’s Global Peace Index (GPI). According to the 2015 GPI published, escalating civil strife and the consequent refugee crisis have been among the major factors behind the rising cost of global violence containment.

31 Trade deficit at 3-month low, exports fall 20.2%: Persistent weakness in global demand and the lower value of oil products led India’s merchandise exports to fall for the sixth straight month in May, while a decline in gold imports helped the trade deficit narrow to a three-month low. Imports recorded the fastest fall in 15 months, with non-oil and non-gold inbound shipments contracting for the first time in at least a year, indicating the fragility of domestic economic activity.

32 E-Commerce China and the US accounted for more than 55% of global internet retail sales in 2014: Retail e-commerce sales in India are expected to reach $17.5 billion (Rs 105,120 crore) by 2018, from $5.3 billion (Rs 31,800 crore) in 2014, according to data analysed by eMarketer, a digital-research firm, but only two of 10 internet users in India shop online. India‘s e-commerce market is intensely competitive, with US giant Amazon establishing its presence in India in 2013 and Alibaba, the Chinese giant, planning to start selling by August this year. Flipkart, India‘s largest e-commerce firm, recently raised $550 million (Rs 3,300 crore) at a valuation of $15 billion (Rs 90,000 crore). 33 ISRO PRESENTED WITH 2015 SPACE PIONEER AWARD: Indian Space Research Organization (ISRO) is presented with 2015 Space Pioneer Award for Mars Orbiter Mission. ISRO is awarded in Science and Engineering Category during the 34th Annual. International Space Development Conference held at Toranto in Canada. The Award was presented by National Space Society (NSS) of USA.

33. INS VIKRANT UNDOCKED IN KOCHI: India‘s Maiden Indigenously built aircraft carrier INS Vikrant undocked in Kochi. INS Vikrant will undergo basin trials in 2017 and is expected to be inducted into the Navy by 2018 end. With INS Vikrant induction, India joins the elite group of four countries USA, Russia, UK and France.

34. G7 SUMMIT HELD IN GERMANY: 41st G7 summit held at schloss Elmau in Bavaria, Germany. the theme for the 41st G7 Summit was ‗ Think Ahead. Act together‘

35. MANU PRAKASH DEVELOPED WORLD’S FIRST WATER BASED COMPUTER: Indian origin Scientist Manu Prakash developed World‘s first water based computer. Manu Prakash is an Assistant Professor of Bioengineering at Stanford University.

36. HDFC BANK LAUNCHED PAYZAPP: HDFC bank launched PayZapp, a complete digital payment and purchase solution. The mobile app will allow customers to manage credit or debit card details, recharge and pay bills. MD of HDFC bank- Aditya Puri.

37. WORLD’S 100 HIGHEST PAID ATHELETICS LIST: Forbes has released 2015 World‘s Highest Paid Athletics list. Floyd Mayweather, an American Professional Boxer topped the list. Only Indian to be in the list is Mahendra Singh Dhoni.

38. UNION GOVERNMENT LAUNCHED MIGRANT RESOURCE CENTRE: Union Government has launched nations fourth Migrant Resource Centre in Chennai. Union Ministry of overseas Indian Affairs (MOIA) along with the Tamil Nadu government has launched the centre.

39. WORLD DAY AGAINST CHILD LABOUR OBSERVED GLOBALLY: The world day against child labour was observed globally on 12th June 2015. World Day against Child Labour 2015 was observed with the theme, ‘ No to child labour- yes to quality education!’.

40. NEK CHAND DIED: Chandigarh‘s Rock Garden creater Nek Chand died. Rock Garden of Chandigarh was opened for public on 24th Jan 1976. Nek Chand Saini was awarded the Padma Shri in 1984.

41. MOBILE APP TO LOCATE NEAREST BLOOD BANK: Union Government of India launched a mobile app to locate Nearest blood bank. The app was launched on the occasion of World Blood Donors Day. Ministry of Health assured that National Blood transfusion Council (NBTC) has made available directory of all 2760 licensed blood banks at National Health Portal.

42. INDIA NUCLEAR INSURANCE POOL LAUNCHED: Department of Atomic Energy (DAE) launched India Nuclear Insurance Pool (INIP). INIP has become the 27th Insurance pool in the world.

43. WORLD BLOOD DONOR DAY OBSERVED: World Blood Donors day observed globally on 14th june 2015. World Blood Donors day 2015 was observed with the theme , Thank you for saving my life‘.

44. MORGENS LYKKETOFT TO HEAD GENERAL ASSEMBLY: UN Elected Denmark‘s Morgens Lykketoft to head General Assembly. Morgens Lykketoft is elected as the UN‘s General Assembly President for its 70th session.

45. AUGMENTED REALITY APPLICATION LAUNCHED: Union Government launched Augmented Reality Application named ―Sarkaar”. Union Minister of State Development of North-Eastern Region (DoNER) Jitendra Singh launched Sarkaar to highlight the achievement of the Department of space.

GK TEST

1. When is World Donor Day observed?
a. 14th June b. 31st May
c. 21 June d. 18th May

2. Amazon online shopping company is of which country?
a. UK b.USA
c. china d. India

3. Which Bank launched Payzaap?
a. SBI b. PNB
c. ICICI d. HDFC

4. Who got Space Pioneer Award?
a. NASA b. ISRO
c. RBI d. SEBI

5. India recently launched which Aircraft Carrier?
a. Astra b. INS Vikrant
c. Aakash d. Agni-V

6. Which Indian origin developed water based computer?
a. Manu Parkash b. Sumit Kumar
c. sukhdev d. U K Sinha

7. Who is the Head ISRO?
a. A. S Kiran b. Kiran Bedi
c. Y V Reddy d. SS Negi

8. G 7 Summit held in which country?
a. Germany b. USA
c. UK d. Russia

9. India, Japan and Australia held 1st trilateral dialogue at:
a. Mumbai b. Germany
c. New Delhi d. Bhutan

10. Which country becomes world’s largest oil producer?
a. UK b. Iran
c. Saudi Arabia d. USA

11. Which bird is chosen as national bird of Britain?
a. Peacock b. Robin
c. Crow d. Pigeon

12. Recently government has hiked import duty on which item?
a. Iron b. Steel
c. Copper d. Mica

13. Which country tops in global peace index?
a. Iceland b. Denmark
c. India d. France

14. Who appointed as new head of National crime Records Bureau?
a. Achal Kumar b. Nasim Zandi
c. Archana Ramasundram d. Parkash Lal

15. Which company to set up 40,000 Wifi Hotspots?
a. BSNL b. Reliance
c. Airtel d. Vodafone

16. Which state launched Right to Health Services?
a. Assam b. Kerala
c. Gujarat d. Haryana

17. Who was Charles Correa?
a. Politician b. Architect
c. Journalist d. Singer

18. Who released world’s 100 highest paid Athletics list?
a. S & P b. Forbes
c. World Bank d. IMF

19. Who was the creator of Rock Garden?
a. Charles Correna b. S S Negi
c. Nek Chand d. Le Corbusier

20. When is World Day against child labour observed globally?
a. 12th June b. 14th June
c. 15th July d. 14th May

Answers

1. A
2. B
3. D
4. B
5. B
6. A
7. A
8. A
9. C
10. D
11. B
12. B
13. A
14. C
15. A
16. A
17. B
18. B
19. C

20. A