17 Sep

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1. Who has been appointed as CRPF Special Director-General? A. Ramesh Chand Tayal B. Dayanand Mishra C. J K Khattar D. Mehtaab Hussainiwala

Ans. A 

BACKGROUND:

Appointments Committee of the Cabinet (ACC) led by Prime Minister Narendra Modi on 25 August 2014 cleared the name of senior IPS officer Ramesh Chand Tayal for being appointed as Central Reserve Police Force (CRPF) Special Director-General (DG). Ramesh Chand Tayal is a 1980-batch IPS officer of Assam-Meghalaya cadre. At the time, when the proposal of his name was given the consent, Tayal was posted as Additional Director-General of the Sashatra Seema Bal.

2. Union government has decided to fence over Bangladesh waters based on the _____ model. A. Australian B. Singapore C. Japanese D. Sri Lanka

Ans. B

BACKGROUND:

Union government has decided to fence over Bangladesh waters based on skid marine hedge model of Singapore.As the area of Indo-Bangladesh border is hugely marked by rivers and wetlands, the central government has decided to implant special kind of fence over water. The fencing based on skid marine hedge model will help to prevent immigrants trying to enter into the mainland of the India.Interestingly, of the 3326 kilometre border only 501 kilometres is left without fence of which 130 kilomteres is land where barbed wire fencing is going on and the rest of the portion is covered with rivers and water bodies.

About skid marine hedge model
In 2003, Singapore built a long wall along their Pulao Ubin beach so that the boats of illegal immigrants could not land on their coast. After that they aligned a floating drum wall in the sea with the Pasir Ris beach.

3. Which Multinational IT Consultant has got the contract for crowdfunding Statue of Unity? A. TCS B. Infosys C. Accenture D. IBM

Ans. C

BACKGROUND:

The state government agency Sardar Sarovar Narmada Nigam Limited (SSNNL) granted a tender of 3 crore rupees to Accenture for executing the project. Accenture submitted the bid of 2.5 crore rupees for the tender and paid the security deposit of 10 percent of its bid to the SSNNL. 

Statue of Unity

Statue of Unity, an iconic 182 meters statue of Sardar Vallabhbhai Patel, is to be built at Sadhu-Bet Island in the Narmada district of Gujarat. It is a tribute to Sardar Vallabhbhai Patel, the Iron Man of India. The estimated cost of the project is 2063 crore rupees. The Gujarat state government had already given a tender of 2063 crore rupees to The total project cost is estimated to be Rs. 2063 crore engineering giant Larsen & Toubro Limited (L&T) for construction and maintenance of statue. The project would be completed in four years. Gujarat Chief minister Anandiben Patel demanded the status of National Monument for this statue.

4. Jewish centre Chabad House reopened 6 years after 26/11 terror attacks. Chabad House is also known as______

Ans. Nariman House

BACKGROUND:

The Jewish centre, Chabad House, also called Nariman House, in Mumbai was reopened on 26 August 2014. It was reopened nearly six years after the 26/11 terror attack in November 2008. A synagogue and kosher kitchen are part of the new set up. The fully renovated six-storey Nariman House is located in South Mumbai’s Colaba area. On the occasion of re-opening it saw a special gathering of 25 Rabbis representing the Jewish community from all over Asia. The renovated Chabad House will have a Jewish Museum. The top two floors of the building wil house a memorial dedicated to the victims of the attack. The terrace of the House will have names of all 166 victims of the attack. However, to keep the memories of the attack alive, the bullet marks have been left intact on the walls. 

26/11 terror attack on Chabad House

Nariman House or Chabad House of Mumbai was one of the targets of 26/11 terror attacks in Mumbai in 2008. The terrorists attack on the building claimed life of six occupants of the building including the owner of the building Rabbi Gavriel Noach Holtzberg and his five-month pregnant wife Rivka. However, their son Moshe, then two-year-old, had survived the attack. The other targets of the 26/11 terror attacks in November 2008 were the Taj hotel, Leopold Café and Chhatrapati Shivaji Terminus. 

About Chabad House

The Chabad House centre is one of eight synagogues in Mumbai. It was opened in 2003. It caters mainly to Jews living in Mumbai and Israelis who may be visiting the city. Such centres are operated by the Chabad-Lubavitch movement in more than 73 countries. Instructions on the Torah (Jewish religious teachings) are also conducted at the centre. This Chabad House is one of 4000 such houses in 73 countries, typically run by husband-and-wife couples.

5. India and which of the following countries recently conducted a joint aerial exercise, Avia Indra-2014? A. Russia B. Japan C. US D. Israel

Ans. A 

BACKGROUND:

Indian Air Force (IAF) and Russian Federation Air Force (RFAF) on 25 August 2014 started Indo-Russian Air Force Exercise, Avia Indra 2014 at Astrakhan region, near the Caspian Sea in Russia. Avia Indra-2014 is the first Indo-Russia aerial exercise that involves the air forces of the two countries. The exercise will go on till 5 September 2014. The exercise is being conducted to boost cooperation between the air forces of two countries and involves aircraft like Su030MKI and Mi-17 helicopters. It also involves fighter pilots, helicopter pilots, missile combat crew, as well as engineers from the IAF along with their counterparts of the RFAF. Russia’s participation in the exercise includes aircraft of the Russian Federation Air Force (Su-30SM fighter aircraft, Mi-17 and Mi-35 helicopters).Russia is the major supplier of defence equipment to India and Russian-origin aircraft such as the Su-30MKI and MiG series planes are the mainstay of India’s air power.

Other benefits of the exercise
• The exercise will also provide an opportunity to both the forces to exchange their best practices
• It will cement the foundation for a more professional interaction and growth in the future

Apart from this first exercise between their air forces, India and Russia also have INDRA-series war games between their armies and navies.Avia Indra-2014 exercise is seen as a major mile stone in military relations of the two countries and would be beneficial for the sides in future. 

6. Who has been elected as the first President of Indian Steel Association? A. C.S.Verma B. D P Tripathi C. Jatin Kakkar D. Nitesh Singh Jaiswal D. Deepika Singh

Ans. A 

BACKGROUND:

C.S.Verma on 26 August 2014 was elected as First President of Indian Steel Association (ISA). Other members of the ISA were Sajjan Jindal, Chairman & Managing Director, JSW, Mr. TV Narendran, MD, Tata Steel, , P Madhusudan, CMD, RINL. C.S.Verma is currently working as the head of SAIL.

About ISA
The Indian Steel Association was formally launched on 26 August 2014 by the Major domestic steel producers of India.  The opening ceremony was attended by industry leaders from SAIL, Tata Steel, JSW, RINL, JSPL, Essar in the presence of Mr. G Mohan Kumar, Secretary, Ministry of Steel. The association aimed to work towards transforming the Indian steel industry as a global leader acclaimed for its Quality, Productivity & Competitiveness.

Membership of ISA
The membership of ISA will be open to any steel producer with a yearly capacity of at least 2 million tones. Steel producers with capacity less than 2 million tonnes can be affiliate members.

7. ______ has been appointed as the Governor of Rajasthan.

Ans. Kalyan Singh

BACKGROUND:

President Pranab Mukherjee on 26 August 2014 appointed Governors for four states. These States are Rajasthan, Maharashtra, Karnataka and Goa. The four Governors were appointed in accordance with the Article 155 of the Constitution.

The Governors are:

  • Kalyan Singh- Rajasthan Governor
  • Vajubhai Rudabhai Vala- Karnataka Governor
  • Ch. Vidyasagar Rao- Maharashtra Governor
  • Mridula Sinha- Goa Governor

About Kalyan Singh

Kalyan Singh had served two terms as the Chief Minister of Uttar Pradesh.  He first became the chief minister of Uttar Pradesh in June 1991. His role in demolition of Babri Masjid on 6 December 1992 was controversial, due to which he had to resign from his post in 1992.However, he contested elections again in 1997 and was appointed as Chief Minister of Uttar Pradesh again between September 1997 and November 1999.

About Vajubhai Rudabhai Vala

Vajubhai Vala  was the Speaker of the Gujarat Legislative Assembly. Prior to that, he served as a minister of Finance, Labour & Employment in the ministry of Gujarat state for two terms.He was also the Mayor of Rajkot before contesting for the state elections.

About Ch. Vidyasagar Rao

Vidyasagar Rao was Union Minister of State for Internal affairs in the Atal Bihari Vajpayee-led BJP Govt government in 1999. He was elected to the 12th and 13th Lok Sabhas from the Karimnagar constituency (now in Telangana) as a BJP candidate. He was also the BJP state president in 1998.

About Mridula Sinha

Mridula Sinha is a renowned writer in Hindi Literature and politician. She is a Former BJP Mahila Morcha president and had been the Chairperson of the Central Board of Social Welfare.She wrote various novels and a biography on Rajmata Vijayaraje Scindia titled Ek Thi Rani Aisi Bhi.

8. _____ committee has submitted its report to Union Home Ministry on the issue of the future capital of Andhra Pradesh. A. Sivaramakrishnan B. Srinivasan C. Kapoor D. Jain

Ans. A

BACKGROUND:

Sivaramakrishnan committee constituted by the Union Government to suggest the place to build the capital city of Andhra Pradesh submitted its report on 27 August 2014 to the Home Minister Rajnath Singh in New Delhi. The committee gave options about the capital and positive and negative points of the places. But the committee did not Zero in on any particular place for the capital. It only mentioned the availability of lands and other factors. Interestingly, the committee objected Vijayawada to be the capital, in the context of the AP government transferring certain departments to Vijayawada, declaring it as the future capital.

Highlights of the Report

• Opined the capital could be between Marturu and Vinukonda.
• It also proposed Musunuru, Mangalagiri, Macherla, Gollapally, Vinukonda, Marturu, Donakonda, Pulichintala as suitable for Capital regions.
• Referred three zones set up for the capital.
• Opposed the building of Super City or Smart City.
• Said that capital between Vijayawada-Guntur is incorrect because it would bring up economic and environmental problems.

About Sivaramakrishnan Committee

• Union government has set up five-member committee under the chairmanship of former Home Secretary K. Sivaramakrishnan to suggest the place to build the capital city of Andhra Pradesh.
• The other members of the committee are Rathin Roy, Aromar Revi, Jagan Shah and K.T. Ravindran.
• The committee will travel around the state of Andhra Pradesh and suggest a suitable place to be the new capital of Andhra Pradesh by 31 August 2014.

9. Who among the following has been recently appointed brand ambassador of Delhi?A. Yogeshwar Dutt B. Sushil Kumar C. Deepika Kumari D. Virat Kohli

Ans. B

BACKGROUND:

Olympic silver medal-winning wrestler Sushil Kumar was Friday announced as Delhi’s new brand ambassador. He was appointed by Lt. Governor Najeeb Jung. Sushil Kumar won the silver medal in 66 kg freestyle at the 2012 London Olympics.

10. Which of the following has been recently ranked as India’s most valuable brand? A. State Bank of India (SBI) B. Bharti Airtel C. ICICI Bank D. HDFC Bank

Ans. D

BACKGROUND:

New Delhi: Private sector lender HDFC Bank has been named the most valuable brand in India with a net valuation of USD 9.4 billion or Rs 56,400 crore. The report was released by research agency Millward Brown in and WPP Plc.This is a first ever branding report under BrandZ Top 50 Most Valuable Indian Brands ranking. The ranking of top 50 come has been segregated under 13 different categories. Seventeen are multi-national corporations (MNCs), 26 are private Indian brands and seven are state-owned brands.Telecom major Bharti Airtel has been named second in the list while country’s largest lender State Bank of India has been named third. The valuation has been based on consumers’ opinion of brands to calculate the contribution that product brands make to business success, WPP said. The combined brand value of the BrandZ Top 50 Most Valuable Indian Brands is almost USD 70 billion.

11. SEBI has ordered that all price-sensitive information should be disclosed by listed companies within _______of occurrence of the event.A. one day B. one week C. one month D. three months

Ans. A

BACKGROUND:

To improve the quality of corporate disclosures, stock market regulator SEBI has said that all price-sensitive information has to be disclosed by listed companies within one day of occurrence of the event unless otherwise expressly stated. On Tuesday, the regulator put out a discussion paper reviewing Clause 36 of the listing agreement for the first time since its introduction in 1998. This clause deals with dissemination of price-sensitive information by listed companies to stock exchanges. The paper aims at plugging gaps in the definition of what constitutes price sensitive information, besides doing away with lack of uniformity in disclosures and hence minimising information asymmetry. The paper also clarifies the timing and adequacy of such disclosures by corporates.

12. As per the recent Associated Chambers of Commerce and Industry of India (Assocham) report, which state in India emerged on top in attracting investment in hotels and tourism industry during 2012-13?A. Gujarat B. Maharashtra C. Karnataka D. Tamil Nadu

Ans. A 

BACKGROUND:

Gujarat followed by Maharashtra and Karnataka are leading states attracting significant investments in India’s hotels and tourism industry together accounting for about 61 per cent share, noted an ASSOCHAM study. Attracting highest amount of outstanding investments worth over Rs 34,800 crore in India’s hotels and tourism industry, Gujarat has emerged on top with lion’s share of about 29 per cent amid top 20 major states attracting combined investments worth over Rs one lakh crore in the sector as of financial year 2012-13, thereby reflecting upon successful campaign of Gujarat government to attract investors in its tourism sector, according to a study titled ‘Indian Tourism Industry: The way forward,’ conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM). The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is one of the apex trade associations of India. The organisation represents the interests of trade and commerce in India, and acts as an interface between industry, government and other relevant stakeholders on policy issues and initiatives. The goal of this organization is to promote both domestic and international trade, and reduce trade barriers while fostering conducive environment for the growth of trade and industry of India. ASSOCHAM was established in 1920 by promoter chambers, representing all regions of India. The Association’s head office is located in New Delhi.

ASSOCHAM members represent the following sectors:

  • Trade (national and international)
  • Industry (domestic and international)
  • Professionals (e.g. CAs, lawyers, consultants)
  • Trade and Industry Associations and other Chambers of Commerce

13. Which of the following states has recently announced a policy to make the state liquor free in a decade?A. Maharashtra B. Tamil Nadu C. Kerala D. Madhya Pradesh

Ans. C 

BACKGROUND:

In more bad news for liquor lovers in ‘God’s own country’, the Kerala High Court on Tuesday directed the state government to make its new liquor policy limiting bar licenses to just 5 star hotels into a law. The state government on Tuesday informed the court about its new liquor policy by which it plans to make the state alcohol-free in the next 10 years. The court asked the state to take further steps in making the new policy into a law. According to the United Democratic Front (UDF) government’s new liquor policy, 418 bars that have been closed down over poor facilities will not be issued fresh licenses and licenses of remaining 312 bars will also not be renewed.

14. Oscar-winning Director Richard Attenborough died recently at the age of 90. He is known for his filmA. Titanic B. Gandhi C.  Jurassic Park D. Terminator

Ans. B

BACKGROUND:

Richard Samuel Attenborough, Baron Attenborough, CBE (29 August 1923 – 24 August 2014) was an English actor, film director, film producer, and entrepreneur. He was the President of the Royal Academy of Dramatic Art (RADA). As a film director and producer, he won two Academy Awards for Gandhi in 1983. He also won four BAFTA Awards and  four Golden Globe Awards. As an actor, he is perhaps best known for his roles in Brighton RockThe Great Escape10 Rillington PlaceMiracle on 34th Street and Jurassic Park. He was the older brother of Sir David Attenborough, a naturalist and broadcaster, and John Attenborough, an executive at Alfa Romeo.

15. External Affairs Minister Sushma Swaraj visited which of the following countries on a three-day trip recently? A. Cambodia B. Vietnam C. Malaysia D. Indonesia

Ans. B 

BACKGROUND:

External Affairs Minister Sushma Swaraj on Tuesday arrived in New Delhi after her three-day visit to strategically important Vietnam where she met with the country’s top leadership and vowed to deepen bilateral ties. The visit saw discussions on cooperation in the oil sector where India is assessing whether to explore in five new blocks that have been offered by Vietnam. While India has decided to ramp up its engagement with Vietnam in the oil sector and deepen defence ties, Hanoi wants Delhi to do more especially in maintaining freedom of navigation, maritime safety and security in the disputed South China Sea. During her visit, Swaraj also chaired a brainstorming session with 15 Indian Heads of Missions in Southeast Asia and East Asia in Hanoi to chart out the foreign policy initiatives to be undertaken in the strategically vital region by the new Indian government. Swaraj’s trip took place just days ahead of President Pranab Mukherjee’s state visit to Vietnam. Indian diplomats were tight-lipped about the kind of agreements that would be signed during Mukherjee’s visit in the middle of next month.

16. The State ministers in-charge of drinking water and sanitation met in New Delhi to evolve a strategy for speedy implementation of Prime Minister Narendra Modi’s mission of ‘Swachh Bharat’. The mission is to be completed by A. 2015 B. 2017 C. 2019 D. 2021

Ans. C 

BACKGROUND:

Rural Development Minister Nitin Gadkari Monday said Prime Minister Narendra Modi’s call to build “Swachh Bharat (Clean India)” by 2019 will be achieved in mission mode. Addressing a function here, he said that the present allocation of Rs.10,000 per toilet in rural areas was insufficient and the amount will be increased. Gadkari also said that a new scheme will be launched to address problem of pollutants in drinking water in 17,000 affected villages. The minister said there was need to lay emphasis on quality of toilets being built. During Prime Minister Narendra Modi’s election campaign, he had put forward hygiene for women in rural sector as a crucial agenda. Even from the Red Fort on Independence Day, Modi dwelled on the importance of ‘Swachh Bharat’.

17. The Commission for Agricultural Costs and Prices (CACP) has recommended the fair and remunerative price (FRP) for sugarcane for the 2015-16 season at A. Rs 210 per quintal B. Rs 230 per quintal C. Rs 250 per quintal D. Rs 280 per quintal

Ans. B 

BACKGROUND:

The Commission for Agricultural Costs and Prices (CACP) has recommended a marginal increase in the fair and remunerative price (FRP) for sugarcane to Rs 230 per quintal for the 2015-16 season (October-September). The CACP, a statutory body that advises the government on the pricing policy for major farm produce, submitted a report in this regard to the Food Ministry yesterday. The CACP, a statutory body that advises the government on the pricing policy for major farm produce, submitted a report in this regard to the Food Ministry yesterday. “CACP has suggested sugarcane FRP of Rs 230 per quintal for the 2015-16 season, which is a Rs 10 per quintal increase from this year,” said a senior CACP official. The government has fixed sugarcane price at Rs 220 per quintal for 2014-15 season beginning October, while it will announce the price for next season after reviewing the CACP’s report on FRP for 2015 16. 

18. Govt. has announced that ‘Digital India’ programme will be implemented in phases from the current year till ____.

Ans. 2018

BACKGROUND:

The Narendra Modi Cabinet Wednesday gave approval for Digital India — an ambitious programme to “transform India into digital empowered society and knowledge economy”. Envisaged by the Department of Electronics and Information Technology (Deity), Digital India will be implemented in phases from the current year till 2018. Digital India is transformational in nature and is aimed at ensuring that government services are available to citizens electronically, the government said. It would also bring in public accountability through mandated delivery of government’s services electronically. The programme aims at providing digital infrastructure as a utility to every citizen as well as high-speed internet as a core utility in all gram panchayats. It also envisions providing a “cradle to grave digital identity” that is “unique, lifelong and online”. The overall scope of this programme is “to prepare India for a knowledge future”, “to make technology central to enabling change” and “to become an umbrella programme covering many departments”, Union Law and Telecom Minister Ravi Shankar Prasad said. The programme aims to seamlessly integrate departments to provide easy and a single window access to all persons. It also aims at making available government services in real time from online and mobile platforms.

19. Union Government has appointed Joint Intelligence Committee chief, ______as the interlocutor for Naga peace talks. A. RN Ravi B. Prakash Dikshit C. M N Khatri D. Akshay Jain

Ans. A 

BACKGROUND:

Union Government on 29 August 2014 appointed chairman of Joint Intelligence Committee (JIC) RN Ravi as Naga interlocutor. He will be the government of India’s representative in Naga peace talks. The reason behind appointment of Ravi for the post was his expertise in Northeast affairs as he was looking after the region during his tenure in the Intelligence Bureau from where he retired as Special Director in 2012. The new interlocutor is appointed after seven months of previous interlocutor, R S Pandey’s resignation. In the interregnum, the post was being looked after by Ajit Lal, who was former JIC Chief. In the past, former Governor Swaraj Kaushal, former Union Minister Oscar Fernandes and former Union Home Secretary K Padmanabhaiah had acted as Naga interlocutors and had held talks with the Naga rebels but with no results. 

Nagaland Issue

Nagaland issue is century old issue that pertains to establishment of greater Nagaland called Nagalim unifying all the areas inhabited by the Naga people in Northeast India and Burma. For this National Socialist Council of Nagaland – Isak Muivah (NSCN-IM) was formed in 1980 by Isak Chishi Swu, Thuingaleng Muivah and S.S. Khaplang. The Council opposed the Shillong Accord signed by the then Naga National Council (NNC) with the Government of India in 1975. The accord was signed asking NNC to accept the supremacy of Constitution of India without condition, surrender their arms and renounce their demand for the secession of Nagaland. However, the demand of the NSCN-IM seems to untenable. This is because Greater Nagaland means that other States like Assam and Manipur ceding their areas. But this could not happen because already the legislative assemblies of respective states have passed resolution against the Greater Nagaland.

20. National Sports Day is observed on ______.

Ans. 29th August

BACKGROUND:

National Sports Day was celebrated on the 29 August throughout the country. National Sports Day is celebrated to mark the birth anniversary of hockey player Dhyan Chand. This day is celebrated by organizing friendly matches between different Indian hockey teams at the Dhyan Chand National stadium in New Delhi. The National Stadium was constructed in the respect and honor of Dhyan Chand.

Major Dhyan Chand – The Hockey Wizard
Major Dhyan Chand was India’s greatest hockey player. He has scored over 1000 goals between 1926 and 1948. He helped India win 3 Olympic Gold medals including the first in 1928 (Amsterdum Olympic games) and then in 1932 ( Los Angeles Olympic games) and 1936 (Berlin Olympic games). He became synonymous with hockey. He became the parameter of hockey by which other player’s caliber is measured. It is surprising to know that Dhyan Chand, who came to be known as Hockey Magician, started playing hockey only after joining the Army at the age of 16.

21. Which state cabinet has approved the formation of transgender welfare board? A. Bihar B. Rajasthan C. Maharashtra D. Haryana

Ans. C

BACKGROUND:

Maharashtra State Cabinet on 28 August 2014 approved the formation of Transgender Welfare Board. After Tamil Nadu, Maharashtra became the second state to announce the formation of the board. The Supreme Court on 15 April 2014 recognised transgender as the third gender. It gave out 26 recommendations for the welfare of transgender.

Some significant recommendations were:
• An umbrella scheme that covers whole transgender community
• A National Policy on Transgenders
• State-level authority should certify a person as transgender, and change of gender should be recorded on the birth certificate of a person after the age of 18
• Rape and trauma centres should be set up for transgender people
• a section added to the Indian Penal Code to deal with cases of sexual assault on them and records of crimes against them
• Workplace sexual harassment policies should be made transgender-inclusive.

22. The book, “Gods of Antarctica” has been written by _____.

Ans. Yashwardhan Shukla

BACKGROUND:

Delhi-based 13 year old school boy Yashwardhan Shukla authored a novel, Gods of Antarctica. The book is fictional tale of gods and monsters. It was put into print by the Readers Paradise publishers. The boy said Amish Tripathi’s ‘Shiva’s Trilogy’ and J K Rowling’s Harry Potter series has inspired him in writing. He also said Rick Riordan remains his favourite author.

About Gods of Antarctica Novel 

The tale was about a school kid David, who accidentally lands up in Antarctica after losing his entire family to a monster attack. His book “Gods of Antarctica” talks about the mythological fantasy of David’s encounter with gods and monsters. The script was rejected by a couple of publishers before being accepted. The publishers had suggested that names and location be changed from London-Antarctica to those in India. But, Readers Paradise publishers accepted without changes to encourage the young writer.

23. ______ will be given more powers through the Securities Laws Amendment Act, 2014.

Ans. SEBI

BACKGROUND:

Union Government on 25 August 2014 notified the Securities Laws Amendment Act, 2014 (SLAA, 2014). The Act came into force on the day it was notified amends the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956 and the Depositories Act, 1996.

Main Highlights of the SLAA, 2014

  • The Act empowers the Securities Exchange Board of India (SEBI) to clamp down on illicit money-pooling schemes, arrest of defaulters, to access call data records and other frauds.
  • It is a part of the government and regulators’ efforts to tighten noose around fraudsters in the wake of several cases of illicit money-polling activities that includes ponzi operators.
  • It would also facilitate setting up of a special SEBI court to fast-track the investigation and prosecution process.
  • It also grants approval for search and seizure operations in suspected cases of frauds.
  • It has as many as 57 clauses to amend various sections of the SEBI Act and two other related legislations.

The need for a separate Securities Laws Act was felt by the government against the backdrop of lakhs of small investors being duped by numerous fraudulent investment schemes across the country, like in the alleged Saradha scam in West Bengal. For this, government promulgated first ordinance related to it in July 2013. The ordinance sought to grant these additional powers to SEBI. The ordinance was promulgated for second time in September 2013 and for third time in January 2014. But all the time bill failed to be passed in Parliament.Since, the third ordinance of January 2014 lapsed in July 2014 and left SEBI without extra powers that were used by the regulator in nearly 1500 cases during their validity period. As a result, Union government under Prime Minister Narendra Modi once again introduced the Securities Law (Amendment) Bill, 2014 in August 2014. It was passed by the Lok Sabha on 6 August 2014 and by the Rajya Sabha on 12 August 2014. 

24. Pradhan Mantri Jan Dhan Yojana (PMJDY) will provide an insurance cover of Rs. _____ to persons with no access to formal banking facilities.

Ans. 1 Lakh

BACKGROUND:

Prime Minister Narendra Modi on 28 August 2014 launched Pradhan Mantri Jan Dhan Yojana. The Yojana is a mega financial inclusion plan.  Under the yojana bank accounts and RuPay debit cards with inbuilt insurance cover of 1 lakh rupees will be provided to crores of persons with no access to formal banking facilities.The primary aim of the Jan Dhan Yojana is to bring poor financially excluded people into the banking system by providing them bank accounts and debit cards.

Target of Yojana

The Pradhan Mantri Jan Dhan Yojana has set an ambitious target of bringing in more than 7.5 crore un-banked families into India’s banking system by opening more than 15 crore bank accounts at the rate of two bank accounts per household by 15 August 2015. The remaining hilly areas and the other 75 naxalite affected districts will be covered under the Yojana by the end of August 2016.

Name of Yojana 

The name Jan Dhan was chosen through an online competition on the MyGov Platform and received more than 6000 suggestion from Indian citizens.

Slogan

The slogan for the Pradhan Mantri Jan Dhan mission is Mera Khata – Bhagya Vidhaata.

Coverage of Yojana

The scheme will cover both urban and rural areas of India and all bank accounts opened will be linked to a debit card which would be issued under the RuPay scheme. (Rupay is India’s own unique domestic card network owned by National Payments Corporation of India and has been created as an alternative to Visa and Mastercard.)

Benefits under Yojana 

Every individual who open a bank account becomes eligible to receive an accident insurance cover of up-to 1 Lakh rupees for his entire family. Moreover, an additional 30000 rupees life insurance cover will be provided for those opening bank accounts before 26 January 2015. Once the bank account became active for 6 months and being linked to account holders Aadhar identity, they would become eligible for an overdraft of up to 2500 rupees, which would further be enhanced by the bank to 5000 rupees over time. The Jan Dhan Yojana also seeks to provide incentives to business and banking correspondents. The banking correspondents act as link for the last mile between savings account holders and the bank by fixing a minimum monthly remuneration of 5000 rupees. The long term vision of the Jan Dhan Yojana is to lay the foundation of a cashless economy and is complementary to the Digital India Scheme.

25. Textile Ministry has signed an MoU with which of the following e-commerce firms for providing a marketing platform to handloom weavers? A. Snapdeal B. Amazon C. Ebay D. Flipkart

Ans. D

BACKGROUND:

With a view to provide impetus to Handloom industry sales, the Ministry of Textiles has brought in Flipkart to provide online marketing coverage to the sector. A memorandum of understanding (MoU) has been signed with Flipkart India Pvt Ltd for the same. The main objective for bringing in Flipkart is to boost the handloom sector, empower the weavers and boost manufacturing in the country. The MoU was signed in the presence of the Minister of State (Independent Charge) Textiles, Santosh Kumar Gangwar and Ankit Nagori, VP, Marketplace, Flipkart and other officials of the Ministry of Textiles. Flipkart’s aim is to provide an online marketing platform along with infrastructural support in data analytics and customer acquisition to help the handloom sector get remunerative prices for their products and scale up their business. For marketing support, the Ministry of Textiles has taken initiatives such as organisation of domestic marketing events, participation in international fairs and buyer-seller meets etc.

26. Noted actor Chemancherry Narayanan Nair passed away recently. He was associated with ___cinema. A. Malayalam B. Kannada C. Tamil D. Telugu

Ans. A 

BACKGROUND:

Chemancherry Narayanan Nair, the noted Malayalam drama and film actor died on 25 August 2014 at Chengottukavu near Koilandy in Kozhikode, Kerala. He was 79. He acted in several Malayalam films and TV serials. Some films in which he acted included Mukham moodiakal, Abhijathyam, Ammakkilikoodu, Balettan. 

Some awards and honours conferred on Chemancherry Narayanan Nair were 
• The Special Jury Prize of the Government of Kerala
• CI Parameshwaran Pillai Award in 2003 by the Kerala Sangeetha Nataka Academy
• Alat Ravindran Memorial Award

27. Who among the following has recently become the United Nations High Commissioner for Human Rights? A. Silvia Cartwright B.Zeid Ra’ad Al Hussein C. Louise Arbour D. Asma Jahangir

Ans. B 

BACKGROUND:

Zeid Ra’ad Al Hussein assumed his functions as United Nations High Commissioner for Human Rights on 1 September 2014, following the General Assembly’s approval on 16 June 2014 of his appointment by the United Nations Secretary-General. He will be the seventh individual to lead the Office of the High Commissioner for Human Rights (OHCHR) and the first Asian, Muslim and Arab to do so. A veteran multilateral diplomat, Zeid was previously Jordan’s Permanent Representative to the United Nations in New York, a post he held from September 2010 until July 2014, and which he also held from 2000 to 2007. From 2007 to 2010 he was Jordan’s Ambassador to the United States of America. He served as Jordan’s Deputy Permanent Representative to the UN, with the rank of Ambassador, from 1996 to 2000. In January 2014, he was President of the UN Security Council and chaired the Security Council’s 1533 and 1521 committees with regard to two sanctions regimes regarding the Democratic Republic of the Congo and Liberia.

28. In its biggest-ever crackdown on illicit money pooling schemes, SEBI has ordered immediate closure of unauthorised collective investment schemes run by which of the following firms? A. Saradha Group B. KWIL C. PACL Ltd D. Wasankar Wealth Management

Ans. C 

BACKGROUND:

In its biggest-ever crackdown on a large-scale illicit money pooling scheme estimated at nearly Rs 50,000 crore, regulator Sebi on Friday ordered immediate closure of unauthorised collective investment schemes run by PACL Ltd and refund of investors’ money within three months. Besides, the capital markets regulator also said it is initiating further proceedings against the company and its nine promoters and directors for fraudulent and unfair trade practices, as also for violation of Sebi’s CIS Regulations, among others, as per a direction from the Supreme Court. As per Sebi’s 92-page order, the total amount mobilised by the company, “by its own admission” comes to a whopping Rs 49,100 crore and “this figure could have been even more if PACL would have provided the details of the funds mobilized during the period of April 1, 2012 to February 25, 2013”. The number of customers through which the money could have been collected is estimated at around 5.85 crore, which includes the customers who said to have been allotted land and who are yet to be allotted the land, Sebi said. This is the biggest ever amount, as also the largest number of investors, so far involved in a case found to be unauthorised ‘collective investment scheme’ by regulator Sebi. Among others, PACL and its top executives, including Nirmal Singh Bhangoo, are being probed by CBI as well.

29. Supreme Court has cancelled the allocation of all coal blocks done since _______.  A. 2011 B. 1999 C. 1997 D. 1992

Ans. D

BACKGROUND:

The Supreme Court on Monday held that the coal blocks allocated from 1992 onwards were illegal and devoid of any procedure. The SC said the allocations were done in arbitrary, non-transparent manner and were against public interest.  The apex court allowed the coal block allocations to ultra mega power projects to continue but barred them from using the coal for any purpose, read commercial exploitation, other than captive consumption.The apex court slammed the allocation of coal blocks, saying allocations were made in a casual manner without doing any comparative assessment of applicants. The SC said all allocation made in 36 meetings of screening committee since 1992 are illegal and arbitrary. The SC said now it will hear from parties what should be done for future in the cases of cancelled coal blocks. The SC judgment prima facie puts huge burden on coal scam case accused as they would now find it difficult to say no wrong was committed in allocation of coal block.

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