GK UPDATE: JUNE PART-II

1. Pakistan has said that it will grant India the status of NDMA to facilitate enhanced bilateral trade. What does NDMA stands for? A. Non-Discursive Market Access B. Non-Discriminatory Market Access C. National Direct Market Access D. Non-Divisive Market Access 

ANS. B

BACKGROUND:

Pakistan would grant India the status of Non-Discriminatory Market Access (NDMA) to facilitate enhanced bilateral trade, Commerce Minister Khurram Dastigir Khan said. “It is not MFN (Most Favoured Nation) but we call it NDMA which calls for non-discriminatory and parallel market access,” the Dawn quoted Mr. Khan as saying on Friday. Talking to the media after addressing members of Hyderabad Chamber of Commerce and Industry (HCCI), Mr. Khan described Prime Minister Nawaz Sharif’s visit to India this week as positive and said Mr. Sharif did not indulge in reactionary diplomacy. Mr. Khan said although Pakistan has certain reservations with India such as Kashmir, Siachen, Afghanistan, Sir Creek and water issues, “mere handing over list of reservations is not diplomacy.” Bilateral trade between India and Pakistan touched $ 2.6 billion in 2012-13, an increase of 34.4 per cent over last year’s $1.94 billion. Various sections in Pakistan, especially the extreme right wing, had objected to the term “most favoured” being given to India because of the history of issues between the two sides. India had already granted MFN status to Pakistan in 1996.

2. ___________ has won the Presidential election in Syria for the third time. A. Al Fatah Al Sisi B. Bashar al-Assad C. Dimaar ul Hassan D. Mehmood Akbar

ANS. B 

BACKGROUND:

President Bashar al-Assad of Syria won the Presidential election for the third time. The Presidential Election result was announced by the Parliament Speaker Jihad Laham on 4 June 2014. Bashar winning the elections means that he will stay as the President of Syria for seven more years. Bashar belonging to Ba’ath Party won the election with 88.7 percent votes. The other two contesting candidates Hassan al-Nouri (National Initiative for Administration and Change in Syria Party) and Maher Hajjar (People’s Will Party) won 4.3 percent and won 3.2 percent of casted votes respectively.

3. Who among the following has been appointed National Security Advisor (NSA)? A.RK Mathur B. Ajit Doval C. Anil Goswami D. Arun Ramanathan

ANS. B 

BACKGROUND:

The National Security Advisor (NSA) is the chief executive of the National Security Council (NSC), and the primary advisor to the Prime Minister of India on national and international security. It is the National Security Advisor to whom intelligence agencies such as the Research and Analysis Wing and Intelligence Bureau report, rather than directly to the Prime minister. Due to such vested powers NSA is a prominent and powerful office in the bureaucracy. All the NSAs appointed since the inception of the post belong to the Indian Foreign Service except M. K. Narayanan and the incumbent, Ajit Kumar Doval, who belong to the Indian Police Service. The National Security Advisor (NSA) is tasked with regularly advising the Prime Minister on all matters relating to internal and external threats to the country, and oversees strategic issues. The NSA of India also serves as the Prime Minister’s Special Interlocutor on border issues with China, and frequently accompanies the Prime Minister on Foreign State visits. The NSA receives all intelligence reports and co-ordinates them to present before the Prime Minister. NSA is assisted by a Deputy NSA. Brajesh Mishra was appointed the first National Security Advisor of India. The post was created on 19 November 1998 by the Government of A B Vajpayee

ABOUT AJIT DOVAL

The government on Friday appointed Ajit Doval, a celebrated officer of Indian intelligence, known for his daring acts, as the national security adviser (NSA). On behalf of the prime minister, the national security adviser is the custodian of nuclear button. Doval, 69, was the director of Intelligence Bureau from 2004 to 2005. He spent decades heading different operation wings. His acts during his service, entrenching deep inside enemy lines, are copycats of spy thrillers. Doval, a topper of IPS 1968 batch from Kerala cadre, has served with distinction in Mizoram, Punjab, Kashmir, Pakistan and the UK. He received India’s second highest gallantry award, the Kirti Chakra, for his daring exploit in the Golden Temple Operation. In Kashmir, he lured away prominent militants like Kukkay Parey and turned him and his colleagues into counter-insurgents, a policy criticized in some quarters but also praised by others as an effective tool that helped combat militancy in Kashmir at its peak.

4. Justice MB Shah is the chairman of the Special Investigation Team (SIT) set up to probe black money. Who among the following is its Vice Chairman? A. Arijit Pasayat B. Maninder Singh C.Mohan Parasaran D. Ranjit Kumar

ANS. A 

BACKGROUND:

The Special Investigation Team (SIT) set up by the newly elected government had held its first meeting on Monday to discuss and chalk out the roadmap of the investigation. The team headed by Retired SC Judge, MB Shah has the CBDT Chairman and the RAW Chief amongst its members. The SIT team discussed the way ahead and also plans to recover all the stashed unaccounted money back to India. The SIT has a large mandate and it needs to focus on bringing back the stashed money and booking the tax evaders and money launders under the relevant provisions of the law. The UPA-II government had earlier got information about tax evaders from countries like France, Germany and Lichtenstein but failed to reveal the names of all and the prosecutions launched by the Income Tax Department were merely superficial. The government had then said that it cannot reveal all the names received since it had obtained the same under the double taxation avoidance treaty. The powers of the Income Tax Department, the chief probe unit are limited to track down evaders and to prove that the source of the money was from criminal activities. A Multi Probe unit was the best answer to the limited powers of the existing probe unit and the SIT has brought it under it. Relevant acts like the Income Tax Act, FEMA and the Prevention of Money Laundering Act also need to be suitably amended to bring the law in line with the investigations conducted by the SIT.

5. World No Tobacco Day (WNTD) is observed around the world every year on A. May 22 B. May 23 C. May 25 D. May 31 

ANS. D 

BACKGROUND:

World No Tobacco Day (WNTD) is observed around the world every year on May 31. It is intended to encourage a 24 hour period of abstinence from all forms of tobacco consumption across the globe. The day is further intended to draw global attention to the widespread prevalence of tobacco use and to negative health effects, which currently lead to 5.4 million deaths worldwide annually. The member states of the World Health Organization (WHO) created World No Tobacco Day in 1987. In the past twenty years, the day has been met with both enthusiasm and resistance across the globe from governments, public health organizations, smokers, growers, and the tobacco industry.

6. The Govt. has proposed to raise Foreign Direct Investment (FDI) in the defence sector to 100 per cent. As of now what per cent FDI is permitted in the defence sector? A. 10 per cent B. 15 per cent C. 20 per cent D. 26 per cent 

ANS. D 

BACKGROUND:

In a major policy initiative, the government is proposing to raise foreign direct investment (FDI) in defence sector to 100 per cent through the approval route, according to sources. “The Commerce and Industry ministry has circulated a Cabinet note for inter-ministerial consultation,” they told PTI. The proposal to raise FDI cap in defence from 26 per cent to 100 per cent is aimed at giving a boost to manufacturing activities. As per the 15-page Cabinet note circulated on Thursday, portfolio investors, including foreign institutional investors (FIIs), would be permitted to invest only up to 49 per cent. Further, the note said that a foreign company can even take over a domestic entity provided it brings in state-of-the-art technology. This is the first major initiative of the ministry after new Commerce and Industry Minister Nirmala Sitharaman took charge this week. Sources said that permitting FDI in the sector “will hugely help in reducing import bill for defence equipment” and “will help in boosting manufacturing and creating jobs”. The UPA government had pegged FDI in the defence sector at 26 per cent but allowed the Cabinet Committee on Security (CCS) to approve proposals entailing higher investments. In May 2010, the Department of Industrial Policy & Promotion (DIPP) had rolled out a discussion paper suggesting increase in FDI cap for the defence sector. India opened up the defence equipment industry to private sector in May 2001, but restricted foreign participation to 26 per cent in this capital-intensive and sensitive sector. India is one of the largest defence importers in the world with a minuscule component of exports. India ranks among the top ten countries in the world in terms of military expenditure. At present, it imports over $8 billion worth of defence equipment and its defence budget is growing at an average of 13.4 per cent annually since 2006-07. “The bulk of the domestic production is met either through the Ordnance Factories or the Defence PSUs. Even when defence products are manufactured domestically, there is a large component of imported sub-systems,” the DIPP had said.

7. The first session of the newly constituted 16th Lok Sabha will be held from _________. A. 4th Jun to 12th Jun   B. 5th Jun to 13th Jun C. 6th Jun to 14th Jun D. 7th Jun to 15th Jun 

ANS. A 

BACKGROUND:

Sessions and Time of Sittings

Three sessions of Lok Sabha take place in a year:

• Budget session: February to May.
• Monsoon session: July to September.
• Winter session: November to mid December.

When in session, Lok Sabha holds its sittings usually from 11 A.M. to 1 P.M. and from 2 P.M. to 6 P.M. On some days the sittings are continuously held without observing lunch break and are also extended beyond 6 P.M. depending upon the business before the House. Lok Sabha does not ordinarily sit on Saturdays and Sundays.

8. Abdel Fattah al-Sisi has recently won a landslide victory bagging over 96 per cent votes in the presidential polls in which of the following countries? A. Thailand B. Philippines C. Egypt D. Libya 

ANS. C 

BACKGROUND:

Egypt’s former military chief Abdel-Fattah el-Sissi was officially declared the next president on Tuesday, winning the elections to defeat the Islamist leader he removed from the post last year. The Election Commission announced the results of last week’s election, saying el-Sissi won a landslide victory with 96.9 per cent of the vote, with a turnout of 47.45 per cent. El Sissi garnered 23.78 million votes, while his sole rival, leftist politician Hamdeen Sabahi, got 318,000 — lower than the 1.4 million invalid ballots cast in the polling. After the announcement, several hundred people gathered in Cairo’s Tahrir Square set off fireworks, cheered and sang pro-military songs. El-Sissi’s victory was never in doubt, but the career infantry officer had pushed for a massive turnout as well to bestow legitimacy on his ouster last July of Islamist President Mohammed Morsi and the ensuing crackdown on his Muslim Brotherhood and Islamist supporters. “It’s a historic moment for the Egyptian history and for Arab nations’ history,” said Karem Mahmoud, head of el-Sissi campaign, told state TV. Saudi Arabia’s King Abdullah, a major backer of el-Sissi and a relentless opponent of the Brotherhood, quickly congratulated him and said his victory would mean an end to the turmoil of the past three years since the ouster of autocrat Hosni Mubarak in a 2011 popular uprising.

9. Which of the following state govts is all set to appoint nearly 1.70 lakh Shiksha Mitras as regular primary teachers? A. Tripura B. Uttar Pradesh C. Bihar D. Rajasthan 

ANS. B 

BACKGROUND:

Uttar Pradesh government has paved way for appointment of Shiksha Mitra as regular primary teachers in the state. Official sources here today said the government order (GO) in this connection was issued here yesterday. With this move, around 1.70 lakh Shiksha Mitras would be made regular primary teachers in a phased manner in the state. Chief Minister Akhilesh Yadav had earlier last week approved the decision in a Cabinet meeting. Now the new policy would enable the Shiksha Mitras to become an assistant primary teacher without passing Teacher Eligibility Test. The sources said BTC passed Siksha Mitras would be appointed as an assistant primary teacher after giving them two years training if they are not Siksha Mitras.

10. The Indian economy expanded at what per cent during the period 2013-14 as per the official data released by the Central Statistical Office (CSO)? A. 4.3 per cent B. 4.5 per cent C. 4.7 per cent D. 4.9 per cent 

ANS. C 

11. The Union Govt. has declared Polavaram project a national project paving the way for transfer of 136 villages from Telangana to? A. Seemandhra (Successor of Andhra Pradesh) B. Tamil Nadu C. Karnataka D. Odisha 

ANS. A  

BACKGROUND:

Polavaram Project is a multi-purpose irrigation project which has been accorded national project status by the central government. This dam across the Godavari River is under construction located in West Godavari District and East Godavari District in Andhra Pradesh state and its reservoir spreads in parts of Chhattisgarh and Orissa States also.  National River-Linking Project, which works under the aegis of the Indian Ministry of Water Resources, was designed to overcome the deficit in water in the country. As a part of this plan, surplus water from the Himalayan rivers is to be transferred to the peninsular rivers of India. This exercise, with a combined network of 30 river-links and a total length of 14,900 kilometres (9,300 mi) at an estimated cost of US$120 billion (in 1999), would be the largest ever infrastructure project in the world. In this project’s case, the Godavari river basin is considered as a surplus one, while the Krishna River basin is considered to be a deficit one.

12. Who among the following is the present president of the industry body Federation of Indian Chambers of Commerce and Industry (FICCI)? A.Naina Lal Kidwai B.Sidharth Birla C.Rana Kapoor D.Rajkumar Dhoot 

ANS. B 

BACKGROUND:

The Federation of Indian Chambers of Commerce and Industry (FICCI) is an association of business organizations in India. Established in 1927, on the advice of Mahatma Gandhi by GD Birla and Purushottam Das Thakurdas, it is the largest, oldest and the apex business organisation in India. It is a non-government, not-for-profit organisation. FICCI draws its membership from the corporate sector, both private and public, including SMEs and MNCs. The chamber has an indirect membership of over 2,50,000 companies from various regional chambers of commerce. It is involved in sector specific business policy consensus building, and business promotion and networking. It is headquartered in the national  capital New Delhi and has presence in 11 states in India and 8 countries across the world.

13. Who among the following is all set to be sworn in as the first Chief Minister of the newly formed 29th state of India, Telangana? A.Vijayashanti B.YS Jaganmohan Reddy C.N Chandrababu Naidu D.K Chandrashekar Rao 

ANS. D 

14. Peter Mutharika has been sworn in as the new President in which of the following countries? A.Zambia B.Mozambique C.Malawi D.Angola 

ANS. C 

BACKGROUND:

Peter Mutharika has been sworn in as Malawi’s president after the High Court rejected a request for a recount following allegations of vote-rigging. The leader of the Democratic Progressive Party urged the 11 other presidential candidates to “join me in rebuilding the country”. Outgoing President Joyce Banda had alleged ballot fraud but has now admitted defeat. Malawi is one of the world’s poorest nations. It is heavily dependent on aid, which provides 40% of the government’s budget.

About Arthur Peter Mutharika

Arthur Peter Mutharika (born 1940) is a Malawian politician, educator and lawyer who has been President of Malawi since 31 May 2014. Mutharika has worked in the area of international justice. He is an expert on international economic law, international law and comparative constitutional law. He informally served as an adviser to his older brother, President Bingu wa Mutharika, on issues of foreign and domestic policy from the onset of his election campaign until the President’s death on 5 April 2012. He has also held positions as Minister of Justice and later as Minister for Education, Science and Technology. Mutharika also served as Minister of Foreign Affairs from 2011 to 2012. He was charged to help bridge relations between Malawi and the United Kingdom due to the deterioration of public diplomacy between the two nations after the Chocrane-Dyet controversy.

15. What is the number of Rajya Sabha members allotted to the newly created state of Telangana? A.7 B.11 C.12 D.18 

ANS. A 

BACKGROUND:

The Rajya Sabha (RS) or Council of States is the upper house of the Parliament of India. Membership is limited to 250 members, 12 of whom are nominated by the President of India for their contributions to art, literature, science, and social services. The remainder of the body is elected by the state and territorial legislatures. Members sit for six-year terms, with one third of the members retiring every two years.

16. Which of the following technology firms unveiled a prototype driverless car, recently? A.Microsoft B.Intel C.Google D.IBM 

ANS. C 

BACKGROUND:

Google has revealed a prototype of its latest driverless car — and this one doesn’t even have a steering wheel. The car will only have a stop and go button. No steering wheel. No pedals. Unlike Google’s previous self-driving vehicles, which have been based on conventional cars adapted to navigate around without a driver, this model has been designed from scratch. The car can carry two passengers and has a maximum speed of 25 miles per hour. Google says the car’s most important feature is its safety. “They have sensors that remove blind spots, and they can detect objects out to a distance of more than two football fields in all directions, which is especially helpful on busy streets with lots of intersections,” the company said. With its front designed to look like a friendly smiley face, the Google autonomous car is not just efficient and futuristic, but also cute to look at. Google said it planned to build around 100 prototypes, which it will start testing in a few months. The company started developing its self-driving cars in 2005, and is testing previous models across the U.S. They are expected to be available for purchase by 2020.

17. Which of the following Internet giants came up with the ‘right to be forgotten’ option, recently, for the people who opt for removal of results about them? A.Google B.Facebook C.LinkedIn D.Whatsapp 

ANS. A 

BACKGROUND:

Google has been inundated with requests to remove users’ data, after Europe’s top court backed the controversial ‘right to be forgotten’ in a landmark ruling last month. Google posted an online form on Friday that allows European citizens to request that links to “inadequate, irrelevant or no longer relevant” information be removed from its search results. Within 24 hours, the search engine had reportedly received 12,000 requests – an average of seven requests per second. Almost a third of the requests were in relation to accusations of fraud, 20 per cent were in relation to violent/serious crimes, and around 12 per cent regarding child pornography arrests. More than 1,500 of these requests are believed to have come from people in the UK. An ex-politician seeking re-election, a paedophile and a GP were among the British applicants. Professor Luciano Floridi, who has been appointed by Google to find out how it should comply with the EU court ruling, said the era of freely available information is now over in Europe.

• In 2012, the European Commission published plans for a “right to be forgotten” law, allowing people to request that data about themselves to be deleted
• Online service providers would have to comply unless they had “legitimate” reason to do otherwise
• The plans are part of a wide-ranging overhaul of the commission’s 1995 Data Protection Directive
• UK’s Ministry of Justice claims that the law “raises unrealistic and unfair expectations”
• Some tech firms have expressed concern about the reach of the bill

18. Which of the following teams has recently won the seventh season of the Indian Premier League (IPL)? A.Kings XI Punjab B.Mumbai Indians C.Chennai Super Kings D.Kolkata Knight Riders 

ANS. D 

19. The Sports Ministry has derecognised which of the following sports associations with immediate effect after its refusal to comply with ministry’s directives? A.Indian Amateur Boxing Federation B.Badminton Association of India C.All India Tennis Association D.Archery Association of India 

ANS. A 

BACKGROUND:

Livid with the suspended Indian Amateur Boxing Federation’s refusal to comply with its directives, the Sports Ministry on Tuesday derecognised the IABF with immediate effect. It comes as another massive jolt to the IABF, which has already been terminated by its international parent body, AIBA. “The matter has been considered in totality and keeping in view all relevant facts including the fact that the International Federation of Boxing has withdrawn its recognition to IABF, it has been decided to withdraw the recognition granted by Government of India to IABF with immediate effect,” a source in the Ministry said. The IABF was provisionally suspended by the Ministry in December 2012. The Ministry had asked the IABF to hold fresh elections and make its constitution compliant with the National Sports Code. “IABF was directed to annul their elections held on 23-9-2013 and communicate its decision of holding fresh elections by following the provisions of the National Sports Development Code of India, 2011 under the supervision of an independent Returning Officer. “The International Federation for Boxing, i.e., AIBA has also from time to time advised the IABF to hold their elections after suitably amending the Constitution of IABF.

20. Which of the following statements is/are correct with respect to the recent decisions taken by RBI in its June 2014 Monetary Policy Review? A. RBI has raised the annual overseas investment ceiling for individuals to $ 125,000 from $ 75,000.B. RBI has allowed all residents and non-residents except citizens of Pakistan and Bangladesh to take out Indian currency notes up to Rs. 25,000 while India. C. RBI has reduced the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 23.0 percent to 22.5 percent of their NDTL D.All of the above

ANS. D

21. The Reserve Bank of India (RBI) has reduced the availability of funds under the export credit refinance (ECR) window from 50 per cent of export credit outstanding to ________with immediate effect. A.40 per cent B.36 per cent C.32 per cent D.25 per cent

ANS. C 

BACKGROUND:

The Reserve Bank reduced the availability of funds under the export credit refinance (ECR) window from 50 per cent of export credit outstanding to 32 per cent with immediate effect. To compensate for the reduction in liquidity under the scheme, the central bank introduced a special term repo facility of 0.25 per cent of net demand and time liabilities (NDTL). “The Reserve Bank has decided to limit access to export credit refinance while compensating fully with a commensurate expansion of the market’s access to liquidity through a special term repo facility from the Reserve Bank (equivalent to 0.25 per cent of NDTL),” the RBI said in its Second Bi-Monthly Monetary Policy Statement today. The central bank left the repo rate unchanged at 8 per cent for the second consecutive time. It also reduced the statutory liquidity ratio by 0.5 per cent to 22.5 per cent, releasing about Rs 40,000 crore of liquidity into the system. However, banks normally park almost 27 per cent of their funds in government securities, thereby limiting the impact on liquidity infusion. The ECR changes should improve access to liquidity from the RBI for the system as a whole without the procedural formalities related to documentary evidence, authorisation and verification associated with the ECR, the central bank said. The Urjit Patel committee had called for moving away from sector-specific refinance towards a more generalised provision of system liquidity without preferential access to any particular sector or entity. The RBI said the limit on accessing funds under the ECR facility will also improve the transmission of policy impulses across the interest rate spectrum and engender efficiency in cash or treasury management.

22. Which of the following statements is correct with respect to Arihant? A. It is India’s first indigenously built nuclear submarine B. It is India’s first fighter jet armed with nuclear warheads C. It is India’s first indigenously built nuclear reactor D. It is India’s first indigenously built aircraft carrier 

ANS. A 

BACKGROUND:

The Arihant class (Sanskrit, for Slayer of Enemies) is a class of nuclear-poweredballistic missile submarines being built for the Indian Navy. The lead vessel of the class, INS Arihant, has been launched for sea trials by August 2013. Four vessels are being built and are expected to be in commission by 2023. The Arihant-class vessels are India’s first indigenously designed and built nuclear submarine. They were developed under the US$2.9 billion Advanced Technology Vessel (ATV) project to design and build nuclear-powered submarines. INS Arihant is the first ballistic missile submarine to have been built by a country other than one of the five permanent members of the United Nations Security Council

23. _______ has won the French Open 2014 Men’s title. A.Novak Djokovic B.Rafael Nadal C.Roger Federer D.Stanislas Wawrinka 

ANS. B 

BACKGROUND:

The 2014 French Open was a tennis tournament played on outdoor clay courts. It was the 113th edition of the French Open and the second Grand Slam event of the year. It took place at the Stade Roland Garros from 25 May to 8 June. It consisted of events for professional players in singles, doubles and mixed doubles play. Junior and wheelchair players also took part in singles and doubles events. Rafael Nadal was the four-time defending champion in the men’s singles and Serena Williams was the defending women’s singles champion. Williams failed to defend her title, losing to Garbiñe Muguruza in the second round. Nadal defeated Novak Djokovic in the men’s singles final to win his ninth French Open title. This was first time that both singles winners of the Australian Open (Li Na and Stanislas Wawrinka) lost in the first round of the French Open. Also, for the first time at any Grand Slam event in the Open era, the top three women’s seeds (Williams, Li, and Agnieszka Radwańska) all failed to reach the fourth round. Winners of doubles titles are as follows:

Men’s Doubles : Julien Benneteau / Édouard Roger-Vasselin

Women’s Doubles : Hsieh Su-wei / Peng Shuai

Mixed Doubles: Anna-Lena Grönefeld / Jean-Julien Rojer

24. The first solar plane which is able to fly day and night without fuel or polluting emissions, Solar Impulse 2, was successfully tested in which of the following countries recently? A.US B.Switzerland C.France D.China 

ANS. B 

BACKGROUND:

Solar Impulse is a Swiss long-range solar-powered aircraft project^[1] developed at the École Polytechnique Fédérale de Lausanne. The project eventually hopes to achieve the first circumnavigation of the Earth by a piloted fixed-wing aircraft using only solar power. The project is led by Swiss psychiatrist and aeronaut Bertrand Piccard, who co-piloted the first balloon to circle the world non-stop, and Swiss businessman André Borschberg. The first aircraft, bearing the Swiss aircraft registration code of HB-SIA, is a single-seater monoplane, capable of taking off under its own power, and intended to remain airborne up to 36 hours. This aircraft conducted its first test flight in December 2009, and first flew an entire diurnal solar cycle, including nearly nine hours of night flying, in a 26-hour flight on 7–8 July 2010. Piccard and Borschberg completed successful solar-powered flights from Switzerland to Spain and Morocco in 2012, and conducted a multi-stage flight across the USA in 2013. Building on the experience of this prototype, a slightly larger follow-on design (HB-SIB) is planned to make a circumnavigation of the globe over the course of about five months. This flight was initially planned for 2014, but following a structural failure of the aircraft’s main spar during static testing in 2012, the flight was rescheduled for 2015.

25. Finance Minister Arun Jaitley has been appointed on the Board of Governors of Asian Development Bank (ADB). Founded in 1966, the multi-lateral funding agency aims to improve people’s lives in Asia and the Pacific and is headquartered at ______ A.Manila B.Kuala Lumpur C.Tokyo D.Jakarta 

ANS. A 

BACKGROUND:

The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 which is headquartered in Metro Manila, Philippines to facilitate economic development of countries in Asia. The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly known as the United Nations Economic Commission for Asia and the Far East) and non-regional developed countries. From 31 members at its establishment, ADB now has 67 members – of which 48 are from within Asia and the Pacific and 19 outside. ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with member’s capital subscriptions. By the end of 2012, both the United States and Japan hold the two largest proportions of shares each at 12.78%. China holds 5.45%, India holds 5.36%.

26. The Reserve Bank of India announced its bimonthly policy review on 3rd Jun. Which of the following is correct in this regard? A.Repo rate – 8 percent B.Cash Reserve Ratio (CRR) – 4 percent C.Reverse Repo rate – 7 percent and Bank Rate – 9 percent D.All of the above

ANS. D 

27. India has emerged as the second largest textile exporter in the world. Which of the following countries is the largest exporter of textiles? A.US B.China C.Italy D.Germany 

ANS. B 

BACKGROUND:

India has improved its ranking to emerge as the second largest textile exporter in the world beating competitors like Italy, Germany and Bangladesh in calender year 2013, with China retaining the top position, according to data released by UN Comtrade. Currently, India exports textiles worth $ 40.2 billion, while the total global textiles exports stand at $ 772 billion, with India commanding 5.2 per cent of the share. The rise in textiles exports from India is largely attributed to the growth in the apparel and clothing sector as these account for almost 43 per cent of the share. “Despite having slow recovery in our biggest traditional markets — the US and EU, prevailing global slowdown and the sustained cost of inflationary inputs, we made the best possible efforts to reach here”. “Government’s policy of diversification of market and product base helped us and we ventured into the newer markets, which paid huge dividends,” Apparel Exports Promotion Council  (AEPC) Chairman Virender Uppal said. India has also improved its ranking by two notches in the Apparel exports from from eighth position in 2012 to sixth position in 2013. The country’s Apparel exports stood at $ 15.7 billion in 2013 as against $ 12.9 billion in 2012. Among the top five global clothing suppliers except for Vietnam, India’s Apparel Exports growth was the highest rising 21.8 per cent during 2013. India’s Apparel exports account for 3.7 per cent share in the global readymade garment exports.

28. Which of the following countries has announced the start of a USD 5-bn anti-terrorism partnership fund to be used to help train other countries to take on rising extremism? A.Russia B.China C.Japan D.US 

ANS. D 

BACKGROUND:

President Barack Obama unveiled a proposed $5-billion “terrorism partnership fund” Wednesday to aid other countries in fighting extremists and other radical groups. The President said he would ask Congress to support the establishment of a Counterterrorism Partnerships Fund (CTPF) during a speech at the U.S. Military Academy at West Point. “These resources will give us flexibility to fulfill different missions,” Obama said, “including training security forces in Yemen who have gone on the offensive against al Qaeda; supporting a multinational force to keep the peace in Somalia; working with European allies to train a functioning security force and border patrol in Libya; and facilitating French operations in Mali.” The fund would add vital resources to help tackle fallout from the ongoing conflict in Syria, he said, where fighting between the regime of President Bashar Assad and opposition forces has attracted extremist Islamist groups seeking to take advantage of a power vacuum. “With the additional resources I’m announcing today, we will step up our efforts to support Syria’s neighbors—Jordan and Lebanon; Turkey and Iraq—as they host refugees, and confront terrorists working across Syrian borders,” Obama said.

29. Which of the following television channels is all set to air Amitabh Bachchan’s television debut in the fiction show named Yudh? A.Colors B.Sony C.Zee TV D.Star TV

ANS. B 

30. _______ has won the French Open 2014 Women’s title. A.Serena William B.Li Na C.Maria Sharpova D.Victoria Azarenka

ANS. C