1. Which scheme has been launched recently to meet the irrigation needs of all farmers in the country? A. Krishi Seenchayi Yojana B. Bhoomi Upjau Yojana C. Khet ko Paani Yojana D. Nahar Vikas Yojana
Pradhan Mantri Krishi Seenchayi Yojana was announced by Prime Minister Narendra Modi on 19 August 2014. The Yojna has been announced to meet the irrigation needs of all farmers across the country. Sum of 1000 crore rupees has been allocated for implementation of the scheme. Earlier, the Pradhan Mantri Krishi Seenchayi Yojana was proposed in the Lok Sabha on 10 July 2014 by Arun Jaitley, the Union Finance Minister in his maiden Budget Speech. The scheme was planned to provide assured irrigation to mitigate risk to the farmer since bulk of the farm lands are rain fed and it depends on monsoon.
2. Ragala Venkat Rahul, who has recently won the first medal for India at the 2nd Youth Olympics, is related to A. Swimming B. Weightlifting C. Running D. Badminton
Weightlifter Ragala Venkat Rahul on 22 August 2014 bagged Silver medal in the 77 kg category by lifting 141 kg in Snatch and 175 kg in Clean and Jerk to finish with a total of 316 kg. With this, Rahul won India’s first medal of the second Youth Olympic Games in Nanjing, China. Silver medal of Rahul was also India’s first medal in Weightlifting in Youth Olympics. It was also his personal best performance in the total lift, which was six kg more than he did at the 2013 Asian Youth Games held in Nanjing. Apart from this, Maymon Poulose in the 110 meter hurdles and Mithra Varun in the discus throw qualified for the Final-A stage, which is the second stage. Earlier in the inaugural Youth Olympics in 2010 played in Singapore, India won eight medals, 6 Silver and 2 Bronze.
3. Eminent _____writer UR Ananthamurthy died at the age of 82. A. Kannada B. Tamil C. Malayalam D. Odia
UR Ananthamurthy, an eminent Kannada writer died on 22 August 2014 at a hospital in Bangalore. The Jnanpith awardee Ananthamurthy died due to kidney failure for which he was admitted in a hospital. He was 82. Ananthamurthy was a new voice in Kannada literature and is considered as one of the pioneers of the Navya movement. His nomination for the 2013 Man Booker International Prize brought him to the attention of a Western audience.
About Udupi Rajagopalacharya Ananthamurthy
• He was born on 21 December 1932
• During late 1980s, he was also the Vice-Chancellor of Mahatma Gandhi University in Kerala
• Samskara, a novel of Ananthamurthy published in 1960s was strongly condemned and raised controversy as it questioned the established caste conventions and was strongly critical of Brahmin conventions
• In 1984 he won state Rajyothsava award
• Ananthamurthy in his literary life won the Padma Bhushan in 1998
• In 1994, he became a recipient of Jnanpith award, the highest literary honour conferred in India. He was the sixth person among eight recipients of the Jnanpith Award for the Kannada language
• He became a recipient of Sahitya Akademi Fellowship in 2004
• In 2008 he received Nadoja Award by Kannada University
Some of his renowned works were
• His main novel works includes Samskara, Bhava, Bharathi Pura, Divya and Avasthe
• His short story collections were Endendhigu Mugiyada Kathe, Mouni, Prashne, Clip Joint, Ghata Shradda, Aakaasha mattu Bekku, Eradu dashakada kategalu and Aidu dashakada kategalu
• His poem works were 15 Padyagalu, Mithuna and Ajjana hegala sukkugalu
4. T M Bhasin has been elected Chairman of which of the following organizations? A. Indian Banks Association B. Syndicate Bank C. FICCI D. ASSOCHAM
T M Bhasin was elected as Chairman of Indian Banks Association (IBA) on 20 August 2014. He will be the Chairman of IBA for 2014-15.T M Bhasin is the chairman and managing director of Indian Bank. K R Kamath, who is the chairman and managing director of Punjab National Bank, was the previous chairman of this Association. K R Kamath was chairman for two consecutive tenures, that is, 2012-13 and 2013-14. Besides, Chanda Kochhar who is ICICI Bank’s managing director, Arun Kaul, CMD of UCO Bank and S L Bansal who is the head of Oriental Bank of Commerce have been elected as the deputy chairpersons of the association. Arundhati Bhattacharya, chairperson of State Bank of India was elected as Honorary Secretary of IBA for 2014-15.
About Indian Banks Association
• The Indian Banks’ Association (IBA) was formed on the 26 September 1946 with 22 members. As on 1 April 2014 IBA has 189 members.
• Homi P Mody was the First Chairman of IBA.
• IBA is an association of Indian banks and financial institutions. It is based in Mumbai.
• The members comprises of Public Sector Banks, Private Sector Banks, Foreign Banks having offices in India and Urban Co-operative Banks.
The Main Objectives of IBA
• To promote education and knowledge of the law and practice of banking.
• To promote and develop in India sound and progressive banking principles, practices and conventions and to contribute to the developments of creative banking.
• To organize co-ordination and co-operation on procedural, legal, technical, administrative or professional problems and practices of banks and the banking industry.
• To maintain close co-ordination and liaison with Reserve Bank of India, All Financial Institutions, Chambers of Commerce, Organisations of Banking Industry, Management or Educational Institutes, Universities and such other Organisations for realizing the subject and purposes of the Association.
• To promote harmonious personnel relations in banking industry and to devise ways and means for involving banking personnel in the endeavors of banks for growth and development of banking and the economy of the country.
5. Which Asian country recently celebrated its 95th Independence Day? A. Japan B. Indonesia C. Afghanistan D. Sri Lanka
Afghanistan celebrated its 95th Independence Day on 19 August 2014. It is celebrated to mark the signing of the 1919 Anglo-Afghan treaty, which gave the country complete independence from British Empire. The Indian Prime Minister Narendra Modi on this eve greeted Afghanistan’s President Hamid Karzai on behalf the Government and people of India.
About Afghanistan’s Independence
Since the ancient times, a numerous rulers invaded the Afghanistan which includes Alexander the great, Mongol rulers and Turkish Empire. However, Ahmad Shah Durrani in the eighteenth century annexed many of the neighboring territories and made Kandahar its capital. Afghanistan was never under complete control of the British Empire but The British fought three wars with Afghanistan to invade it. These wars are called as Anglo-Afghan wars.
• The first Anglo-Afghan war was held during the period 1839 to 1842 and British led Indian invaders were defeated by the Akbar Khan’s Afghan forces.
• The second Anglo-Afghan War, British tasted victory over Afghan at Battle of Kandahar and made Abdur Rahman Khan as emir to have friendly Anglo-Afghan relations. The British were given control of Afghanistan’s foreign affairs in exchange for protection against the Russians and Persians. This war was in 1878.
• The third Anglo-Afghan War: British gave up the Afghan’s foreign affairs which finally led to Anglo-Afghan Treaty of 1919, which is also called Treaty of Rawalpindi.
6. According to RBI’s annual report, the Indian economy is expected to grow at a rate of around____ in 2014-15.
Ans. 5 to 6 per cent
The Reserve Bank of India on 21 August 2014 released its annual report for 2013-14. In its report, RBI suppressed the fear of drought stating that ‘it’s way better than 2009’ and the gaps in the fiscal and current accounts are most likely to remain contained in 2014-15. The report covers (i) the assessment of the macroeconomic performance during 2013-14 and the prospects for 2014-15, and (ii) the working and operations of the Reserve Bank and its financial accounts for the year 2013-14. For the first time, the report was provided with a chapter on the Reserve Bank’s vision and agenda for 2014-15 for transforming the financial sector, to turn it into a stronger, deeper, more efficient and inclusive system.
Growth Outlook For 2014-15
• The Indian economy could grow in the range of 5 to 6 per cent in 2014-15 with risks broadly in balance around the central estimate of 5.5 per cent though, risks to the central estimate were more on the downside at that point.
• All-India cumulative rainfall deficiency in the current monsoon season till 13 August 2014 was placed at 18 per cent as against an excess of 12 per cent in the corresponding period of 2013. There has been a marked improvement in the monsoon since mid-July when the deficiency was 43 per cent.
• Area sown under kharif crops (till 14 August2014) was 2.3 per cent lower than the normal and was 8.9 per cent higher than the 2009 drought year.
• Though, the hydro-power generation is decelerating from 18.6 per cent to 14 per cent of the total power supply. In the thermal segment it is nearly 82 per cent of power generation, new capacities planned are expected to add 8.9 per cent to overall installed thermal capacity in the year. Similarly, installed nuclear power capacity is expected to go up by 41.8 per cent during the 2014-15.
• The Union Budget 2014-15 is supportive of both investment and savings. The proposal to increase the deduction limit on account of interest on loan with respect to self-occupied house property is also expected to increase households’ physical savings. The Reserve Bank has complemented these measures by providing incentives for encouraging the flow of bank credit to infrastructure and affordable housing.
• Mining, manufacturing, construction and trade, hotels, transport and communication sectors. These segments account for 50 per cent of GDP compared with about 15 per cent in case of agriculture, forestry and fishing, and electricity.
• Overall, the economy may grow faster than in the 2013-14.
Inflation outlook for 2014-15
• After remaining above 8 per cent during April-May 2014, Consumer Price Index(CPI) inflation moderated to 7.5 percent in June 2014 but was increased to 8.0 percent in July 2014 due to deficient monsoon rainfall. CPI excluding food and fuel inflation, however, eased to 7.4 per cent in July 2014 from close to 8 per cent in April and May 2014.
• Some stability in the exchange rate, has, mitigated the risk to inflation from exchange rate pass-through during 2014 15 so far. Global crude oil prices (Indian basket) declined from above US$ 110 per barrel.
• The revisions in administered prices during 2014-15, which include railway fare and freight fares apart from the staggered increases in diesel prices, could exert some pressure on generalized price levels. and the smaller increases in the minimum support prices (MSPs) will help somewhat in restraining food price pressures.
• Overall, the Reserve Bank of India has committed to a disinflationary glide path of taking CPI inflation to 8 per cent by January 2015 and 6 per cent by January 2016. Though the balance of risks around the medium-term inflation path, and especially the target of 6 per cent by January 2016 are still to the upside, the Reserve Bank remains committed to supporting the disinflationary process.
The report mentioned that the monetary policy has an important role to play in curbing the effects of supply-led inflation and deficient monsoons are also reason for increase in inflation.
Some Challenges for the Indian economy in the short & medium term
• Lowering high food inflation through supply side management.
• Strengthening the monetary policy framework and transmission.
• Fiscal adjustment through revenue augmentation.
• Strengthening infrastructure by improving contractual arrangements for private sector.
• Removing obstacles and improving access to finance.
• Managing the NPA cycle to improve soundness of the banking system.
Reserve Bank’s Vision & Agenda For 2014-15
This agenda was built on five pillars. The approach encompasses:
• strengthening the monetary policy framework;
• increasing diversity and competition in banking industry while improving governance in existing banks;
• broadening the choice of financial instruments, and deepening and enhancing liquidity in financial markets;
• improving access to finance; and
• reinforcing the financial system’s ability to cope with stress.
7. _______ has recently approved the modification of Master Plan of Delhi-2021.
The Delhi Development Authority on 21 August 2014 approved the modification proposal in Master Plan of Delhi-2021. The proposal was accepted at the 12th meeting of advisory group for taking up the midterm review of MPD-2021. The proposal for modification of the plan was made by India Broadcasting Foundation and it was forwarded by Union Ministry of Urban Development.
• It was proposed to give permission to media, news agencies and media training centers in public and semi-public uses.
• To allow up to 30 percent of maximum permissible Floor Area Ration for hostel accommodation for students and residential use for essential staff.
About Master Plan of Delhi-2021
• The Master Plan incorporates several innovations for the development of the National Capital Region.
• The policy zones of the plan are National Capital Territory of Delhi, The Central NCR, Highway Corridor Zone and Rest of NCR (National Capital Region).
• The Plan contemplates a mechanism for the restructuring of the city based on mass transport.
8. ______ has been chosen for the 2014 Rashtritya Khel Protsahan Puraskar. A. Guru Hanuman Akhara B. Mahabali Satpal Akhada C. Bharat Kesari Akhada D. Rathi Boxing Academy
Guru Hanuman Akhara, a Delhi-based wrestling academy was chosen for the 2014 Rashtritya Khel Protsahan Puraskar (RKPP) on 21 August 2014. The Akhara was chosen in the category of establishment and management of sports academies of excellence. Rashtritya Khel Protsahan Puraskar will be given on 29 August 2014 at the National Sports Awards function by the President of India, Pranab Mukherjee along with Arjuna, Dronacharya and Dhyan Chand awards.
Other awardees of Rashtritya Khel Protsahan Puraskar are
• Oil and Natural Gas Corporation (employment of sports persons and sports welfare measures)
• Jindal Steel Works (community sports — identification and nurturing of budding/young talent)
• Child Link Foundation of India — Magic Bus (other forms of sports activities not covered in the categories mentioned in the schemes)
About Guru Hanuman Akhara
Guru Hanuman Akhara is the oldest Wrestling School of India existing till now and was established in 1925. Being an epicenter of ancient wrestling tradition in India it comes under the Wrestling Federation of India. It is located at Shakti Nagar in Delhi and till date has produced National and International wrestlers for India and some of them are like Dara Singh, Guru Satpal, Sushil Kumar, Yogendra Kumar, Anuj Chowdhary, Rajiv Tomer and others. It was named after the legendary Indian wrestler Guru Hanuman who was born in 1901 in Chidwa village of Rajasthan. He was awarded with one of India’s highest civilian honours Padma Shri and was also a recipient of Dronacharya Award. He died in 1999 in a car accident at Partapur, Meerut.
9. Who has been conferred with an honorary degree of the Doctor of Science by Faisalabad Agriculture University?
Ans. M S Swaminathan
Renowned agriculture Scientist M.S. Swaminathan was conferred with an honorary degree of the Doctor of Science by the University of Agriculture in Faisalabad, Pakistan) on 21 August 2014. He was honoured for his contribution to farm research and allied areas of plant-breeding, genetics, biodiversity and ecological studies. While receiving the honorary degree, Dr. Swaminathan called for an evergreen revolution to increase in productivity in perpetuity without ecological harm in the Indian subcontinent. He also called for a nutrition-sensitive agriculture, through programmes rooted in the principles of ecology, economics, gender and social equity, employment and energy.
About MS Swaminathan
• MS Swaminathan was born on 7 August 1925 in Kumbakonam, Tamil Nadu.
• He is an Indian geneticist and renowned for his leading role in India’s “Green Revolution.”
• Green Revolution is a program under which high-yield varieties of wheat and rice seedlings were planted in the fields of poor farmers.
• Swaminathan is known as Indian Father of Green Revolution, while, Norman Ernest Borlaug of the US is known as World’s Father of Green Revolution.
• MS Swaminathan has served as Director of the Indian Agricultural Research Institute, New Delhi (1966-72).
• He has been the Chairman of National Commission on Farmers, since its inception in 2004.
10. Prime Minister has dedicated the 765 KW Ranchi-Sipat transmission line to the nation. This line will connect the
Ans. Eastern Region & Western Region
Prime Minister Narendra Modi on 21 August 2014 dedicated 765 KW Ranchi-Dharmjaygarh -Sipat Transmission Line (Powergrid) to the nation. The transmission link was inaugurated online by the Prime Minister at Prabhat Tara, Dhurwa in Ranchi. The transmission line was commissioned by the Power Grid Corporation of India Limited (PGCIL) at Bero and connects the Eastern and Western parts of India. It is the first of its kind in Jharkhand and connects Chhatisgarh, West Bengal and Jharkhand. Apart from this, Modi also dedicated the Jasidih Oil Terminal to the nation. He also launched the National Digital Literacy Mission. He also announced the commencement of work of 3×660 MW North Karanpura Super Thermal Power Project of the National Thermal Power Corporation (NTPC) in Tandwa (Chatra). The foundation stone of the project was laid in 2003 by the then Prime Minister Atal Bihari Vajpayee. In the slew of inaugurations, he also laid down the foundation stone of New Incubation facility at Ranchi Centre of Software Technology Parks of India and Ranchi Centre of National Institution of Electronic and Information Technology.
11. ______ has been elected Prime Minister of Thailand. A. Prayuth Chan-ocha B. Abhijit Vejjajiva C. Songchai Somawat D. Samak Sundarevej
Thailand coup leader, Army Chief Prayuth Chan-ocha was elected as the Prime Minister of Thailand on 21 August 2014. His election to the post of 29th Prime Minister of Thailand was backed by 191 members of the 197-strong junta-picked National Legislative Assembly (NLA). No assembly member opposed the selection of Chan-ocha, who was the sole candidate for the post. Now, the appointment of 60-year-old, Chan-ocha who is due to retire from the armed forces in few months must be approved by the King Bhumibol Adulyadej although royal endorsement is seen as a formality. With the royal endorsement, he will become Thailand’s 29th Prime Minister of the country. However, Chan-Ocha has effectively served as de facto premier since the 22 May 2014 coup. Earlier, Chan-ocha on 22 June 2014 seized the power from the elected government in a coup a few days after Yingluck Shinawatra was dismissed as Prime Minister in a controversial court ruling. Thailand’s politics has been surrounded by such incidents of coup since Yingluck’s elder brother Thaksin Shinawatra was toppled as Prime Minister in a coup in 2006. Thaksin was a billionaire telecom tycoon.
12. SC has fined 14 states and 1 UT for not responding to Law Commission’s report. The present Chairman of the Law Commission is
Ans. A P Shah
The Supreme Court fined 14 state governments and 1 Union Territory (UT) on 20 August 2014 for not responding to Law Commission’s 245th Report on Arrears and Backlogs in Judiciary. The fine of 25000 rupees was imposed on each state government and Union Territory. The Supreme Court bench headed by T S Thakur asked the states to give their opinion on Law Commission’s Report by November 2014, the date of next hearing in Supreme Court. Further, refusing to take a lenient view on the matter, it asked the States to look at the recommendation made by the Law Commission and say whether the formula based on disposal rate method was acceptable or not. Earlier in May 2014, Supreme Court had asked these states and their respective High Courts to give their response on the formula suggested by Law Commission’s report. It asked states to look at the recommendations given by Law Commission and give a response on whether the Disposal Rate Method was acceptable or not.
245th Report of 20th Law Commission
20th Law Commission headed by Justice (retd) A P Shah in its 245th Report titled Arrears and Backlog: Creating Additional Judicial (wo)manpower planning suggested Disposal Rate Method to clear the existing backlog of cases and the new cases which are adding to the backlog. The report of the Law Commission is driven by Supreme Court decision in Imtiyaz Ahmad v. State of Uttar Pradesh and Ors case. In it had asked the Law Commission to undertake an inquiry and suggest recommendations regarding creation of additional court for eliminating delays, clearance of pending cases and deduction in costs of those cases.
Some highlights of 245th report
• It has made recommendations about the backlog of cases in undivided Andhra Pradesh, Bihar, Delhi, Gujarat, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Karnataka, Kerala, Punjab and Haryana, Maharashtra, Sikkim and Uttarakhand along with the Union Territory of Chandigarh.
• The report has given a rational and scientific definition of arrears and delays and recommends observing it on a continuous basis.
• The report suggested a formula that focuses on a multi-prong approach and rational judicial (wo)manpower planning.
• The commission in its report suggested two different approaches to deal with backlog of cases. These are: (i) Practice Assessment Approach: It involves a thorough study of the filing of cases, their disposal, case-length and pendency. A comparative analysis of this study would help policy makers in determining the time taken by each court in solving a system-wide average case or a median case; and (ii) Normative Assessment Approach: For having fix time standards for disposal of cases, commission suggested that urgent measures need to be undertaken to have uniform data collection and data management methods.
13. NTPC’s super thermal power station at Mouda was inaugurated recently. This thermal power station is in A. Maharashtra B. Haryana C. Himachal Pradesh D. Jammu and Kashmir
Super Thermal Power Stations (STPS) or Super Power Station is a series of ambitious power projects planned by the Government of India. With India being a country of chronic power deficits, the Government of India has planned to provide ‘power for all’ by the end of the eleventh plan. The capacity of thermal power is 1000 MW and above. This would entail the creation of an additional capacity of at least 100,000 Megawatts by 2012. The Ultra Mega Power Projects, each with a capacity of 4000 megawatts or above, are being developed with the aim of bridging this gap.
14. The world’s first smartphone completed 20 years recently. It was developed by American cellular company BelSelf and which of the following in 1994? A. Apple B. IBM C. IBM D. Motorola
The world’s first smartphone will celebrate its 20th birthday tomorrow, ahead of going on display at the Science Museum later this year. The IBM Simon first went on sale in the US on 16 August 1994 selling 50,000 units and though the term ‘smartphone’ had yet to be coined it was the first device to combine the features of a PDA and a mobile telephone. But the project was ultimately a commercial failure and after slashing the price from the initial $899 to $599 IBM took it off the market just six months later, a sign that IBM were too far ahead of the game according to Charlotte Connelly who is curating a display featuring the Simon as part of the Science Museum’s Information Age exhibition opening in October.
15. Who among the following has been recently conferred with this year’s SAARC’s Best Law Teacher Award? A. Lalit Bhasin B. NR Madhav C. Faizan Mustafa D. Shashi Bhushan
Aligarh, 19 August 2014: Prof. Faizan Mustafa, former faculty of Aligarh Muslim University and presently Vice Chancellor of NALSAR Law University Hyderabad got this year’s prestigious SAARC’s Best Law Teacher Award. In a unanimous decision, the high-powered jury consisting of Professor NR Madhav Menon, eminent jurist and Founder Vice Chancellor of NLSIU, Bangalore and Mr Lalit Bhasin, President of Indian Law Firms, announced the conferment of the award on Professor Mustafa. The award, which carries Rs 1 Lakh cash, citation and a plaque, would be given on 6th September at Delhi by the Union Law Minister in the presence of eminent professors of law, judges and eminent lawyers like Ram Jethmalani and Fali Nariman. Earlier awardees include leading jurists such as Padamshree NR Madava Menon, Professor Ranbir Singh, Professor GV Ajjappa, Professor VS Mani, Professor Laxminath and Professor Mizanur Rehman of Dhaka University, Bangladesh.
16. China has excluded which of the following from the list of products that can be bought with its public money? A. Samsung B. Apple C. HTC D. Blackberry
Apple’s inroads into China may have suffered a setback with the reported exclusion by Beijing of iPads, MacBooks, and other Apple products from approved government procurement lists. Ten products made by Apple, including the “iPad, iPad Mini, MacBook Air, and MacBook Pro,” were “omitted from a final government procurement list distributed in July, according to officials who read it and asked not to be identified because the information isn’t public,” Bloomberg reported on Wednesday. Notably absent from Bloomberg’s partial list of products purportedly banned for public purchase in China was the iPhone. The news comes just days after antivirus vendors Symantec and Kaspersky were reportedly dropped from China’s approved roster of software suppliers for government purchases. In May, Beijing reportedly banned Microsoft’s Windows 8 operating system on government PCs. The Bloomberg report cited unnamed Chinese government sources as saying “security concerns” were the reason for the removal of Apple products from the ranks of computer products which can be purchased with public money in China. Sources discussing the reported ban of Symantec and Kaspersky products also pointed to Beijing’s concern over electronic security in the aftermath of former NSA contractor Edward Snowden’s revelations about U.S. spying.
17. Felipe VI recently took oath as the new king of which of the following countries? A. Norway B. Netherlands C. Spain D. Peru
Spain’s new King Felipe VI launches his reign before parliament today, sparking a day of celebration in the flag-filled streets of Madrid for a people smarting from their World Cup humiliation. The king will deliver his inaugural speech to lawmakers. With his elegant 41-year-old wife Letizia, a former television news presenter and the granddaughter of a taxi driver, the king will then be driven from parliament through the streets of Madrid.
18. Who has recently won the World Food Prize? A. Gebisa Ejeta B. Daniel Hillel C. Robert Fraley D. Sanjaya Rajaram
India-born plant scientist Sanjaya Rajaram has been named the winner of the USD 250,000 World Food Prize for his breakthrough achievement in increasing global wheat production by more than 200 million tonnes following the Green Revolution. Rajaram’s contributions in successfully cross-breeding winter and spring wheat varieties, which were distinct gene pools and had been isolated from one another for hundreds of years, led to him developing plants that have higher yields and a broad genetic base. More than 480 high-yielding wheat varieties bred by Rajaram have been released in 51 countries on six continents and have been widely adopted by small- and large-scale farmers alike. “Rajaram’s work serves as an inspiration to us all to do more, whether in the private or public sector,” said US Secretary of State John Kerry at an event where he delivered the keynote address.
19. Juan Manuel Santos has been reelected President of A. Venezuela B. Ecuador C. El Salvador D. Colombia
Juan Manuel Santos Calderón (born 10 August 1951) is the 32nd and current President of Colombia, in office since 2010. He was Minister of Defence from 2006 to 2009. An economist by profession and a journalist by trade, Santos is a member of the wealthy and influential Santos family, who from 1913 to 2007 were the majority shareholders of the El Tiempo newspaper until its sale in 2007 to Planeta De Agostini. Shortly after graduating from the University of Kansas, he joined the National Federation of Coffee Growers of Colombia as an economic advisor and delegate to the International Coffee Organization in London, where he also attended the London School of Economics and Political Science. In 1981, he was appointed deputy director of El Tiempo, becoming its director two years later.
20. Union government has issued draft rules to empower Forward Markets Commission (FMC). FMC is the regulator of____.
Ans. Commodity Markets
The Union government issued draft rules to empower the commodity market regulator Forward Markets Commission (FMC) on 20 August 2014. The new rules give more powers to FMC for effective regulation of the intermediaries of the commodity derivatives markets. After the 5600 crore rupees payment scam surfaced at the National Spot Exchange Ltd (NSEL), the government of India is strengthening the FMC. FMC is not an autonomous body.
According to the new draft rules:
• The Finance Ministry of India has proposed to strengthen the Forward Markets Commission (FMC) with the power to cancel, suspend and debar the registration of an errant intermediary.
• FMC would also have the right to inspect books and accounts of an intermediary and take disciplinary actions.
• The ministry has proposed mandatory registration of intermediaries with FMC and procedure for the same.
Forward Markets Commission
• Forward Markets Commission (FMC) is a regulatory authority which is overseen by the Ministry of Finance, Government of India.
• It is headquartered at Mumbai.
• It is a statutory body set up in 1953 under the Forward Contracts (Regulation) Act, 1952.
• “The Act provides that the Commission shall consist of not less than two but not exceeding four members appointed by the Central Government out of them being nominated by the Union Government to be the Chairman.”
• The present Commission comprises three members among whom Shri Ramesh Abhishek, IAS is the Chairman, Dr. M. Mathisekaran, IES and Shri Nagendraa Parakh are the Members of the Commission.
21. Union Cabinet has recently approved the _______Metro Rail Project. A. Nasik B. Nagpur C. Chandigarh D. Ludhiana
The Union Cabinet approved the Nagpur Metro Rail Project on 20 August 2014. It is 8860 crore rupees project. It will be funded on equal sharing basis between the Maharashtra Government and Union Government of India. In this Union Government will contribute 1555 crore rupees as equity and subordinate debt.
About Nagpur Metro Rail Project
• The project is scheduled to be completed by March 2018. With this Nagpur will become the latest city in the country to have the modern transportation service.
• Nagpur Metro will connect 19.658 kilometers of north-south corridor and 18.557 kilometer of east-west corridor, the total accounts to 38.215 kilometers.
• The proposed north-south and east-west alignments are expected to provide much needed connectivity to commuters and would traverse through some of the densest and traffic- congested areas of the Orange city (Nagpur).
• The Metro alignments are expected to bring connectivity to the Special Economic Zone (SEZ), educational institutions and logistic hubs in the Nagpur city.
• Nagpur with a population of 24 lakh people is the third largest city of Maharashtra and 13th largest in the country.
• Metro services are operational in Delhi NCR, Mumbai, Kolkata and Bangalore and in under various stages of construction in cities including Jaipur, Hyderabad and Kochi.
22. World’s first Hindu ‘eco-temple’ has been opened in A. UK B. US C. Singapore D. Mauritius
World’s first Hindu eco-temple named Shree Swaminarayan Mandir was opened in Kingsbury of northwest London, United Kingdom on 19 August 2014. The eco-temple features solar panels on its roof and a rainwater harvesting system. The temple combines traditional Indian architecture, intricate carvings and masterful artistry with green technology. The ornate Swaminarayan Temple has been built at a cost of 20 million pounds. The opening ceremony of the temple was presided by the temple’s global spiritual leader, Acharya Swamishree Maharaj. After being opened, the temple will showcase evening shows of dance and music and street parades. Apart from this, the Mayor of London Boris Johnson during his recent visit to the temple described the new temple and its facilities as stunning and impressive.
23. Who has been appointed as Chairman of Public Accounts Committee (PAC)? A. KV Thomas B. Ram Gopal Yadav C. N K Tripathi D. Sheeshram Ola
Prof. Kuruppassery Varkey Thomas was appointed as Chairman of Public Accounts Committee (PAC) on 20 August 2014. He will be the 94th Chairman of PAC. KV Thomas is the senior Congress Parliamentarian from Ernakulum Constituency, Kerala. Bharatiya Janata Party leader Murli Manohar Joshi was his predecessor and was chairman of PAC for four consecutive years during 15th Lok Sabha (2009-2014).
About Public Accounts Commission (PAC)
• PAC was incepted in the year 1921 and till early 1950 the Finance-member was appointed as the Chairman of the Committee.
• The PAC is constituted every year and it consists of not more than 22 members — 15 members elected by Lok Sabha every year from amongst its members according to the principle of proportional representation by means of single transferable vote and not more than seven members from Rajya Sabha .
• The Chairman of PAC is appointed by the Speaker from amongst the members of Lok Sabha elected to the Committee.
• As a convention since 1967-68, a senior member of the Committee belonging to the main opposition party/group in the House is appointed as the Chairman of the Committee.
• The chairmanship is for a year, but one person can hold the office for successive terms.
• If a member after his election to the Committee is appointed a Minister, he ceases to be a member of the Committee from the date of such appointment.
Functions of PAC
• The Public Accounts Committee scrutinizes the accounts of the government and the reports of the Comptroller and Auditor-General of India after it is tabled in Parliament of India.
• The main duty of the Committee is to ascertain whether the money granted by Parliament has been spent by Government “within the scope of the Demand”.
• The Appropriation Accounts of the Government of India and the Audit Reports presented by the Comptroller and Auditor General mainly form the basis for the examination of the Committee.
• The Committee is not concerned with questions of policy. It is concerned only with the execution of the policy laid down by Parliament and its results.
• It is one of the Parliamentary Committees which act as Parliament’s ‘Watch Dogs’ over the executive.
About KV Thomas
• Prof. Kuruppassery Varkey Thomas was born 10 May 1946 in Kumbalanghi, Distt. Kochi (Kerala).
• He has been elected as Member of Parliament for 5 times since 1984 for Indian National Congress Party.
• He was a Union Minister of State, Agriculture, Consumer Affairs, Food and Public Distribution from 2009 to 2011 and has Independent Charge since 2011 in the same portfolios in Congress led UPA Government.
• He was also a Minister for Tourism, Fisheries and Excise in State Government of Kerala during 2001-2004.
• He published many books in Books in Malayalam (i) Ente Kumbalangi; (ii) Ente Kumbalangiku Shesham; (iii) Kumbalangi Touch; (iv) Kumbalangi Flash; (v) Kumbalangi Varnamkal; (vi) Ammayum Makanum; (vii) Sonia Priyankari; (viii) Ente Leader; (ix) Order, Order, Order.
24. Pakistani Squash Legend _______ died recently.
Ans. Hashim Khan
Squash Legend of Pakistan Hashim Khan died on 18 August 2014. He died due to congestive heart failure. He was believed to be 100. He died at his home in Aurora, Colorado.
About Hashim Khan
• He was born in Nawakille near Peshawar in Pakistan in 1916.
• In 1942, Khan became a squash coach at a British Air Force officers’ mess. In 1944, he won the first All-of-India squash championship in Bombay, and successfully defended this title for the next two years.
• When Pakistan became an independent state, he was appointed a squash professional at the Pakistan Air Force, and won the first Pakistani squash championship in 1949.
• Hashim Khan had won seven British Open titles from 1951 to 1958.
• He won his first British Open title at the age of 37, by defeating the four-time defending champion Mahmoud El Karim of Egypt in 1951.
25. _______ became the first bank in India to launch an EMI facility on Debit Card. A. AXIS BANK B. ICICI Bank C. HDFC Bank D. SBI
Industrial Credit and Investment Corporation of India (ICICI) Bank on 19 August 2014 launched EMI (equated monthly installments) facility on debit cards. With this, ICICI bank became the first bank in India to provide such facility on debit card. This was so far available only for credit cardholders.
Benefit to customers
The facility will enable the customers to convert their high value transactions into easy installments. This facility will offer a three-pronged advantage to customers as they can leverage on their fixed deposits and earn interest, while they shop and pay in EMI as well as earn reward points on transactions. ICICI Bank debit cardholders having fixed deposits of minimum 10000 rupees in the savings bank account can avail themselves of this facility to buy products on EMIs of 3, 6, 9 or 12 months.
The ICICI has tied up with Samsung India to offer this facility across 9000 stores including large format retailers, multi brand outlets and standalone stores, for purchase of Samsung products like mobile phones, tablets and consumer electronics, among others.
26. The book “Assassination of Rajiv Gandhi: An Inside Job?” has been authored by A. Deepak Santoshi B. M S Narayanan C. Shubha Saxena D. Faraz Ahmad
The book “Assassination of Rajiv Gandhi: An Inside Job?” has been authored by Faraz Ahmad. It was released on 19 August 2014. The book was released by a senior journalist Vinod Mehta. The author on the occasion of release of the book termed the assassination of Rajiv Gandhi a contract job which had nothing to do with the ideology or the larger cause of the Liberation Tigers of Tamil Eelam (accused of the crime).
About Assassination of Rajiv Gandhi: An Inside Job
The book reveals that Rajiv Gandhi’s assassination by the LTTE on 21 May 1991 was a myth which has been perpetuated for twenty-three years. The myth was perpetuated because Congress Party feared that Rajiv Gandhi might not triumph in the 1991 general elections which were underway. Further the book not only talks about the conspiracies and intrigue but had also attempted to explode the myth and seeks to find the reason, for which Rajiv Gandhi was killed, at a time when there was no chances of his return into power.
About Faraz Ahmad
Faraz Ahmad is a print journalist and has a vast working experience of covering crime and politics. He has worked for several Indian mainstream English dailies like Indian Express, The Pioneer, the Deccan Chronicle, the Asian Age and the Tribune of Chandigarh.