GK UPDATE: MAY PART-III

1. India is negotiating a Broad-based Trade and Investment Agreement (BTIA), which is in its final leg now, with which of the following groups/countries? A. ASEAN B. EU C. Mauritius D. Japan

ANS. B

BACKGROUND:

The India-EU Broad-based Trade and Investment Agreement (BTIA) negotiations are in their final leg. Thirteen rounds of negotiations have been held so far. Both the sides have intensified negotiations with a view to closing negotiations. These negotiations cover Trade in Goods, Sanitary & Phyto-sanitary Measures and Technical Barriers to Trade, Trade in Services, Investment, Intellectual Property Rights and Geographical Indications, Competition Policy, Customs and Trade Facilitation, Trade Defence, Dispute Settlement, Government Procurement and Sustainable Development. Negotiations are being carried out as per mandate received from TERC (Trade & Economic Relations Committee).

2. With which of the following countries has India recently signed two agreements, one on the study of ground water resources in Kampong Spue Province and the other on development of Master Plan for Siem Reap River Basin? A. Vietnam B. Thailand C.  Cambodia D. Indonesia

ANS. C

BACKGROUND:

Two agreements, one on Study of Ground Water Resources of Kampong Spue Province in Cambodia and the other on Development of Master Plan for Siem Reap River Basin in Cambodia, were signed today in New Delhi between Shri Sanjay Bhattacharyya, Joint Secretary (South) in the Ministry of External Affairs and Shri R.K. Gupta, Chairman-cum Managing Director, WAPCOS Ltd. (a Government of India undertaking). The agreement on Study of Ground Water Resources in Kampong Spue is for the establishment of hydrograph network stations. Shallow open and bore wells will be fitted with handpumps for better efficiency and there will be monthly monitoring of water levels to maintain the ground water regime. The agreement on Siem Reap River Basin involves preparation of Master Plan for water resources management, land use management and environment management along with drinking water development in the area, which is famous for the Ankor Vat heritage monuments. India and Cambodia share excellent bilateral relations and India is a major partner of Cambodia in its socio-economic development programme.

3. Which of the following gulf countries has recently decided to abolish its controversial sponsorship system for foreign workers in a major labour reform? (Now, it will not be mandatory for the foreign workers to obtain their employer’s consent before leaving the country) A. Bahrain B. Saudi Arabia C. UAE D. Qatar

ANS. D

BACKGROUND:

Qatar, which will host the 2022 football World Cup, said it will abolish its controversial sponsorship system. It “will be replaced with a system based on employment contracts,” as part of a package of labor reforms, said a statement released at a press conference in Doha. Sponsorship systems for foreign workers exist in most Gulf countries, which employ millions of foreigners, especially from Asia. The system has been strongly criticised by human rights groups and likened to  modern-day slavery. The reforms will also end the longstanding requirement that foreign workers obtain their employer’s consent before leaving the country.

4. Who has emerged as the richest person(s) in the UK in the recently released Super-Rich List? A. Hinduja Brothers B. Lakshmi Mittal C. Alisher Usmanov D. Paul Brothers

ANS. A

BACKGROUND:

Sunday Times Super-Rich List released on 11 May 2014 ranked London-based Hinduja Brothers as the richest in UK. The two brothers, Srichand and Gopichand Hinduja topped the list having a fortune of 11.9 billion pounds, which is up by 1.3 billion pounds of 2013. To emerge at the top position, the Hinduja Brothers edged steel-tycoon Lakshmi Mittal and Russian Alisher Usmanov.  Apart from this Lakshmi Mittal, the owner of Arcelor Mittal also edged one position upwards to the third position with 10.25 billion pounds. Whereas, Usmanov who topped the list till 2013 fell to second place after his estimated fortune dropped to 10.65 billion dollars.

5. Rafael Nadal, who has won the Madrid Open Title 2014, belongs to: A. Spain B. Italy C. France D. UK                      

ANS. A

BACKGROUND:

World No. 1 Rafael Nadal on 11 May 2014 won his 27th ATP World Tour Masters 1000 title at Mutua Madrid Tennis Open final. He won after Kei Nishikori of Japan was forced to withdraw with a back injury when was trailing 2-6, 6-4, 3-0 in the final set. With this win Nadal of Spain became the first player to win four Madrid open tennis titles.

6. Who among the following has launched the Indigenous Card payment System RuPay? A. Prime Minister of India B. President of India C. Chief Justice of India D. Vice President

ANS. B

BACKGROUND:

President of India on 8 May 2014 launched Rupay, Indigenous Card payment System at Rashtrapati Bhawan in Delhi. RuPay is the coinage of two terms Rupee and Payment. Reserve Bank of India (RBI) envisioned the need for such an indigenously managed service in 2005. National Payments Corporation of India (NPCL) developed the Rupay platform. Rupay is the seventh card payment system in the world after Visa, MasterCard, American Express, Discover, Diners Club, and JCB.

Features of RuPay

It can be used at ATMs, Points of sale and also for online purchases. Rupay card will be use with a PIN.  It is possible to withdraw 25000 rupees using the card. Up to 50000 rupees can be spent at Point of sale terminals. The variant of Rupay card is Kisan Card which is issued by 43 Public Sector Banks (PSBs). RuPay Scheme provide flexibility to card issuing banks to issue special purpose cards like Kisan Cards, Milk Procurement Cards, Grain Procurement Cards and Financial Inclusion Cards. The user of Rupay will need to pay at atleast 40 percent fewer charges for each transaction clearing and settlements when compared to other international platforms.

7. Archana Ramasundaram has been appointed first Woman Additional Director of: A. CBI B. CVC C. Intelligence Bureau D. CISF      

ANS. A

BACKGROUND:

Senior IPS Officer Archana Ramasundaram on 8 May 2014 appointed as first Woman Additional Director of Central Bureau of Investigation (CBI).After hours of her sworn-in, Tamil Nadu government suspended her. She was suspended allegedly for not following rules before joining the central probe agency. Her name was cleared by the Appointments Committee of Cabinet headed by Prime Minister Manmohan Singh, after the recommendation of CBI Director Ranjit Sinha to the Department of Personnel. Ramasundaram is the first woman to be elevated to the rank of an Additional Director of CBI. She was also the agency’s first woman Joint Director. Prior to taking over as Additional Director of CBI, Ramasundaram, a 1980 batch officer of the Tamilnadu cadre, was holding the post of Director General of Police/Chairperson, Tamil Nadu Uniformed Services Recruitment Board.

8. International Nurses Day 2014 was observed on: A. 13 May B. 10 May C. 11 May D. 12 May 

ANS. D

BACKGROUND:

Day was observed across the world on 12 May 2014. The day is observed every year on the 12 May on anniversary of birth of Florence Nightingale’s birth. The day is observed to mark contributions of nurses towards people’s health. On this day, the International Council of Nurses commemorates nurses by distributing International Nurses’ Day (IND) Kit. This IND Kit 2014 contains educational and public information materials for use by nurses everywhere.

International Nurses’ Day celebration in India

On this day, the President of India presents National Florence Nightingale Awards to selected nurses from across India. The award was instituted by Union Health Ministry and carries a Medal, a citation certificate and a prize amount of 50000 rupees.

9. Maria Sharapova, who defeated Simona Halep to win Madrid Open title, belongs to: A. Britain B. Russia C. Ukraine D. France      

ANS. B

BACKGROUND:

Maria Sharapova of Russia on 11 May 2014 won the Mutua Madrid Open Tennis title. To win her 1st Madrid Open title, Sharapova defeated the Romanian Simona Halep 1-6, 6-2, 6-3 in the finals. With this win, Sharapova has captured 31^st career title. For Halep, this was first appearance in the finals at one of the WTA’s Premier tournament.

10. Who has won the Senior National Women’s Football Champions title? A. Sikkim B. Manipur C. West Bengal D. Assam

ANS. B

BACKGROUND:

Manipur on 12 May 2014 won the 20th Senior National Women’s Football Championships title at the Golaghat Stadium in Assam. To clinch the title, Manipur defeated the defending champions Orissa by 3-1.

• Bala Devi of Manipur scored two goals and the third was made by Oinam Benbem (the AIFF Women’s Player of the Year)

• Sakina Nesa of Orissa reduced the margin of goals by scoring a goal in the last minutes

11. African National congress (ANC) has won the South African Elections for: A. The fifth successive term B. The sixth successive term C. The fourth successive term D. The third successive term

ANS. A

BACKGROUND:

African National congress (ANC) won the national elections of South Africa for the fifth successive term. In the election results announced by the Independent Electoral Commission in Pretoria on 9 May 2014, the ANC won the elections with 62.2 percent of votes. This was the fifth national elections held in South Africa after apartheid ended in 1994. In the National and Provisional Elections of 2014, the voter turnout was as high as 75 percent. Out of 29 parties only 13 parties received enough votes to have representation in the National Assembly in Parliament.

12. The RBI, recently, allowed bank branches abroad to sell structured products that are not specifically permitted in the domestic market. Which of the following statements is/are NOT correct in this regard? A. The RBI has directed banks to offer such products in foreign branches in compliance with the host country regulations. B. Banks are allowed to do so only at the established financial centers outside India like New York, Singapore, Hong Kong, Frankfurt, Dubai etc. C. For other than established financial centers, banks may offer only those products that are specifically permitted in India. D. None of these

ANS. D

BACKGROUND:

The Reserve Bank of India (RBI) on 12 May 2014 notified that foreign branches or subsidiaries of Indian banks are allowed to offer structured financial and derivative products that are not specifically permitted by it in the domestic market. These activities are permitted only at the established financial centers outside India like New York, London, Singapore, Hong Kong, Frankfurt, Dubai and others. It also notified to the banks dealing with such products will have to ensure that their foreign branches or subsidiaries that will deal with these products in foreign jurisdiction have an adequate knowledge, understanding, and risk management capability for handling such products. At other centers, banks may offer only those products that are specifically permitted in India. In its notification, RBI also asked the Indian banks with branches and subsidiaries in foreign countries to make sure that the products being provided in overseas location should be in compliance with host country regulations, with prior approval from their Board and appropriate authority in these foreign jurisdictions. In its notification, RBI has also asked the banks to get necessary permission under Section 6(1)(m) or 19 (1)(C) of the Banking Regulations Act 1949 (depending on the case) from the RBI or Government of India which are not permitted under the Banking Regulations Act, 1949 / respective Statute of the Public Sector Banks.

13. Oscar winning Film Director Malik Bendjelloul, who died recently, belonged to: A. Sweden B. UK C. USA D. Russia

ANS. A

BACKGROUND:

Oscar winning Swedish film director, Malik Bendjelloul died in Stockholm on 13 May 2014. He was 36. He was most famous for his 2012 documentary Searching for Sugar Man for which he won an Oscar and BAFTA in 2013 in the best documentary category. The documentary also won the Swedish Guldbagge award. The documentary Searching for Sugar Man detailed the life and career of the American singer Sixto Rodriguez. Rodriguez was a US singer who disappeared from the music scene while unwittingly becoming a massive cult hit in Africa. He also directed documentaries on other musicians, including Elton John, Rod Stewart, Bjork and Kraftwerk. Bendjelloul was born in Ystad in southern Sweden. He acted in the Swedish TV series Ebba and Didrik as a child during the 1990s before studying journalism and media production at the Linnaeus University of Kalmar, Sweden. He worked as a culture reporter for the Swedish public broadcaster SVT.

14. Former PM Ehud Olmert, who has been sentenced to imprisonment in a corruption case, belongs to: A. Israel B. UK     C. Italy D. Denmark 

ANS. A

BACKGROUND:

The Tel Aviv District Court of Israel on 13 May 2014 sentenced former Prime Minister Ehud Olmert to six years in prison for corrupt practices in real estate projects. The court also fined one million shekels (290000 US dollar) to Olmert for his role in the Holyland project. The Tel Aviv District Court of Israel on 13 May 2014 sentenced former Prime Minister Ehud Olmert to six years in prison. He was sentenced for corrupt practices in real estate projects. The court also fined Olmert one million shekels (290000 US dollar) for his role in the Holyland project. In its decision, Judge David Rosen convicted 68-year-old Olmert of two charges of bribery and they are

• Acceptance of 500000 shekels from developers of the Holyland project of Jerusalem

• For acceptance of 60000 shekels in a separate real estate deal

15. Lieutenant General Dalbir Singh Suhag has been appointed ____________

ANS. Chief of Army Staff (COAS)

BACKGROUND:

Union Government on 13 May 2014 appointed Lieutenant General Dalbir Singh Suhag as the 28th Chief of Army Staff (COAS). Currently, he is serving as the Vice Chief of Army Staff. He will assume the charge on 31 July 2014 the date on which General Bikram Singh retires. General Suhag will serve as the COAS for 29 months till 31 December 2016. His name was cleared by the appointments committee of Cabinet (ACC) chaired by PM Manmohan Singh. The process of appointment gained momentum after the Union Defence Ministry got a clearance from the Election Commission on 12 May 2014 and it recommended the name of Suhag. Lieutenant General Suhag was commissioned into 4/5 Gorkha Rifles in June 1974. He will be the second Gorkha Rifles officer to become the Army chief after late Field Marshal Sam Manekshaw.

16. According to the US EIA, India is set to become the third largest oil consumer by: A. 2025 B. 2030 C. 2040 D. 2050

ANS. A

BACKGROUND:

India will become the world’s third largest oil consumer by 2025 according to the US Energy Information Administration (EIA). The US Energy Information Administration (EIA) released its annual Energy Outlook on 7 May 2014. At present, India is the fourth largest oil consumer in the world behind the US, China and Japan.

According to the Energy Outlook

• India will overtake Japan to become the third largest oil consumer behind the US and China by 2025.

• India’s oil consumption growth rate will be the highest in the world with a 3 percent compounded annual growth rate from 2012 to 2040.

• The oil consumption of India will reach 6.11 million bpd in 2030 and 8.33 million bpd in 2040.

• In 2013, India overtook Japan to become the world’s third-biggest crude oil importer. India imported 3.86 million bpd of crude oil which was nearly 6 percent higher than Japan’s imports of 3648372 bpd

17. Who has been named Pakistan team’s batting coach? A. Moin Khan B. Intikhab Alam C. Grant Flower D. Haroon Rashid

ANS. C

BACKGROUND:

Grant Flower, the former Zimbabwe batsman on 15 May 2014 was named as the batting coach of Pakistan cricket team for two years. He will join the Pakistan side on 1 August 2014 just before the Sri Lanka series of the team. Grant Flower name was finalised on the recommendation of the coaching committee comprised

• Moin Khan – Chief Selector

• Intikhab Alam – director domestic cricket operations

• Haroon Rashid – director game development

This appointment of Grant Flower came a week after Waqar Younis returned as the head coach of Pakistan.

18. Raghuram Rajan, the Governor of the Reserve Bank of India has announced that plastic currency notes will be launched in _______ after the completion of field trials.

ANS. 2015

BACKGROUND:

Raghuram Rajan, the Governor of the Reserve Bank of India (RBI) on 15 May 2014 announced that plastic currency notes will be launched in 2015 after field trials. He said it after the Central Board of Directors of the RBI Meet in Shimla, Himachal Pradesh. Earlier in February 2013, Union Government had informed Parliament that it will introduce one billion plastic currency notes in five cities in later half of 2014 on a pilot basis. The five selected cities for pilot testing are Shimla, Kochi, Mysore, Jaipur, and Bhubaneswar. The introduction of Plastic currency notes would help stop counterfeiting of Indian rupees as they are difficult to imitate. Also, Plastic currency notes with an average life span of about five years are cleaner than paper notes.

About Plastic Currency Notes

Modern plastic currency notes were first developed by the Reserve Bank of Australia (RBA), CSIRO and The University of Melbourne to safeguard counterfeiting the currency. They were first issued as currency in Australia in 1988. In 1996 Australia switched completely to plastic currency notes. Countries that have since switched completely to plastic currency notes include Brunei, New Zealand, Papua New Guinea, Romania, Vietnam, Fiji, Mauritius (printed by De La Rue), Canada and Israel

19. Who among the following Justices has recused himself from hearing the Sahara Case? A. Justice JS Khekar B.  Justice Balamurgan C. Justice Unnikrishanan D. Justice BD Joshi

ANS. A

BACKGROUND:

The Supreme Court judge Justice JS Khehar who was hearing the case of the Sahara Chief Subrata Roy in chit fund scam recused himself from hearing the case further. Now the hearing will be preceded by a newly constituted bench of Supreme Court. A communication of Justice JS Khehar on 6 May 2014 stating that he recuses from the case of Sahara was placed in front of the Chief Justice of India RM Lodha on 7 May 2014. Immediately the CJI constituted a new bench on the same matter. This issue was said in a release by Registry office of the apex court on 15 May 2014.

20. MTS has announced to provide free Wi-Fi in which of the following? A. Gurgaon Rapid Metro Rail B. DMRC C. Kolkata Metro D. Bangalore Metro

ANS. A

BACKGROUND:

MTS announced on 14 May 2014 that it will provide free Wi-Fi in Gurgaon Rapid Metro Rail for six months. The service will be experienced by 30000 daily commuters. Apart from the Rapid Metro trains, MTS will also provide free Wi-Fi access on four stations including Sikanderpur, IndusInd Bank Cyber City, Phase 2 and Micromax Moulsari Avenue. Sistema Shyam Teleservices, which operates under MTS brand name, has partnered with Rapid MetroRail Gurgaon Ltd. for providing this service. MTS has set up five kiosks on four Rapid Metro stations where commuters can procure Wi-Fi coupons. This service will enable commuters to access fast and consistent data speeds of up to 9.8mbps on MTS’ 3G plus network. The company had commissioned an internal research to gauge consumer interest in using Wi-Fi services while travelling in Rapid Metro.

21. A.B. Pandya has been appointed as Chairman of: A. Central Water Commission B. Central Water Tribunal C. Central Water Body D. Central Irrigation Department

ANS. A

BACKGROUND:

Ashwin B. Pandya on 15 May 2014 was appointed as the Chairman of the Central Water Commission & ex-officio Secretary of the Government of India. He was holding the additional charge of the post since November 2013.

About Ashwin B. Pandya

• Pandya joined the Central Water Engineering Service in CWC in October, 1977 as Assistant Director

• In his professional career of 36 year, Pandya has heed held various positions in the Department and organisations under the Ministry of Water Resources like WAPCOS, NWDA and NPCC

About Central Water Commission (CWC)

Central Water Commission is a technical organization of India in the field of water resources. At present it is functioning as an attached office of the Ministry of Water Resources, Government of India. The Commission is entrusted for some general responsibilities like initiating, coordinating and furthering in consultation of the State Governments concerned, schemes for control, conservation and utilization of water resources throughout the country, for purpose of Flood Control, Irrigation, Navigation, Drinking Water Supply and Water Power Development. It also undertakes the investigations, construction and execution of any such schemes as required. Mission statement of CWC is to promote integrated and sustainable development and management of India’s water resources by using state-of-the-art technology and competency and by coordinating all stakeholders.

22. Which state Government has banned rat-hole coal mining & coal transportation? A. Meghalaya B. Assam C. Jharkhand D. MP

ANS. A

BACKGROUND:

State Government of Meghalaya on 14 May 2014 banned rat-hole mining and transportation of coal throughout the State. The order was issued by the State government to comply with an order of the National Green Tribunal (NGT). The Director General Police (DGP) of Meghalaya PJP Hanaman directed the Superintendents of Police and the Deputy Commissioners to implement the order of NGT in letter and spirit. Violators of the ban (if any) would be booked under Criminal Procedure Code (CrPC) and Indian Penal Code (IPC).

23. UN Envoy to Syria ________________ has resigned recently.

ANS. Lakhdar Brahimi

BACKGROUND:

UN Envoy on Syria Lakhdar Brahimi on 13 May 2014 submitted his resignation to UN Secretary-General Ban Ki-moon in New York. He will relinquish the office on 31 May 2014. He was also the League of Arab States Special Representative on the Syrian crisis. He was appointed as the peace-facilitator in Syria on 17 August 2012 to replace the former UN Secretary-General Kofi Annan. He was also a long-time Special Advisor to the UN Secretary-General and was the Head of the UN Assistance Mission in Afghanistan (UNAMA) from October 2001 to December 2004. The resignation of the 80 year old Brahimi, who hails from Algeria, has left a vacuum in the peaceful resolution to the three-year conflict in Syria.

Syrian Crisis

The Syrian conflict that began in March 2011 has so far led to 150000 deaths. The number of deaths in the Syrian conflict has been described by UN aid agencies as the worst humanitarian crisis since the 1994 Rwandan genocide. As per an estimate, the crisis in Syria has displaced 6.5 million peoples inside Syria and 3 million peoples have become refuges outside Syria. Under Brahimi tactful diplomacy, the Geneva Conference on Syria got underway resulting into Geneva Communique in 2012. The Communique was the first international conference on the conflict, which called for a transitional government to lead to free and fair elections.

24. World Migratory Bird Day was observed across the world on: A.10-11 May B. 10 May C. 11 May D. 11-12 May

ANS. A

BACKGROUND:

World Migratory Bird Day (WMBD) was observed across the world on 10 – 11 May 2014.  The Theme of the WMBD 2014 was Destination Flyways: Migratory Birds and Tourism. The day was celebrated by the UN World Tourism Organization (UNWTO) to promote their new Destination Flyways Project. The project aims to build local sustainable tourism by linking together key migratory bird sites, local communities and the global wildlife watching industry.

25. Kamal Haasan has led the Indian delegation at Cannes International Film Festival; it was the: A. 67th Cannes International Film Festival B. 68th Cannes International Film Festival C. 70th Cannes International Film Festival D. 69^th Cannes International Film Festival

ANS. A

BACKGROUND:

Actor-filmmaker Kamal Haasan led the Indian delegation at the 67th Cannes International Film Festival inaugurated in Cannes, France on 14 May 2014. The Festival will be held from 14 to 25 May 2014. Kamal Haasan is chairman of Federation of Indian Chambers of Commerce and Industry (FCCI) Media and Entertainment Committee-South. Kamal Haasan inaugurated the Indian Pavilion. The India Pavilion will showcase Indian cinema across linguistic, cultural and regional diversity.

About Kamal Haasan

• Kamal Haasan is a Tamil film actor, screenwriter , director, producer, playback singer, choreographer and lyricist.  He won four national awards and many film fare awards.

• He has starred in the highest number of films submitted by India for the Best Foreign Language Film Oscar.

• His tamil movie Nayagan, rated by Time magazine as one of the best films in cinema history

26. Who has been appointed Chairman of CWDT? A. Justice B S Chauhan B. NP Singh C. Justice P Sathasivam D. N.S. Rao

ANS. A

BACKGROUND:

Justice BS Chauhan, the Judge of the Supreme Court of India on 14 May 2014 was appointed as the Chairman of the Cauvery Water Disputes Tribunal (CWDT). Justice Chauhan will succeed Justice NP Singh. Justice Chauhan, who is due to retire on 1 July 2014, was appointed as the Chairman of the Tribunal on the recommendation of the former Chief Justice of India, Justice P Sathasivam. The post of Chairman of the Tribunal was lying vacant since April 2012, when Justice NP Singh resigned from the tribunal on health grounds. Due to this, the Tribunal was not successful to take clarification petitions filed by all parties to the Cauvery dispute against Tribunal’s final award that was delivered in 5 February 2007.

About the Cauvery Water Disputes Tribunal (CWDT)

The Cauvery Water Disputes Tribunal (CWDT) was constituted by the Government of India on 2 June 1990. It was constituted with an aim to give its ruling on the water dispute regarding inter-state river Cauvery and the river valley thereof. The Tribunal was constituted under the chairmanship Justice N.P. Singh. The members were N.S. Rao and Sudhir Narain.

27. In his recent visit to east African nations, Chinese Premier Li Keqiang signed a deal with which of the following countries to build a new railway with China financing 90 per cent of the 3.6 billion-dollar project: A. Kenya B. Uganda C. Somalia D. Rwanda

ANS. A

BACKGROUND:

East African leaders and China formally signed agreements on Sunday for the construction of a new multibillion dollar railway linking the Kenyan port of Mombasa to Nairobi and running on to neighbouring states. The deals were signed in Nairobi on the last stage of an Africa tour by Chinese Premier Li Keqiang, although Kenyan president Uhuru Kenyatta had already signed up to the deals during his state visit to Beijing last year. China has won friends in Africa by building infrastructure across the continent, but critics grumble that it often relies on Chinese labor and is more keen on sucking in African raw materials than passing on skills.

28. Which Indian IT Services Company paid $34 mn to settle a US visa misuse case in 2013 and will now have to retain an independent third-party auditor to review its visa compliance until 2015? A. Wipro B. TCS C. Infosys D. HCL

ANS. C

BACKGROUND:

Despite having paid a hefty sum of $34 million to settle a US visa misuse case last year, Infosys, India’s second largest IT company, will have to retain an independent third-party auditor at its expense to review its visa compliance until 2015. As part of the settlement with the US authorities, the independent auditor will be responsible for annually reviewing and reporting on Bangalore-based company’s compliance relating to Form I-9, a type of employee documentation. These reports would be submitted to the US attorney, Infosys said in its annual report for 2013-14.

29. UN Secretary-General Ban Ki-moon appointed whom among the following as the first woman to command a United Nations peacekeeping force? A. Kristin Lund B. Ann Dunwoody C. Terry Gabreski D. Michelle Howard

ANS. A

BACKGROUND:

Secretary-General Ban Ki-moon appointed the first woman to command a United Nations peacekeeping force — a Norwegian general who has served in Lebanon, the first Gulf War, Bosnia and Afghanistan. Maj. Gen. Kristin Lund will replace Chinese Maj. Gen. Chao Liu on Aug. 13 as commander of about 1,000 U.N. peacekeepers in Cyprus, U.N. spokesman Stephane Dujarric announced.

30. A banking company is required to transfer not less than what per cent out of the balance of profit of each year to the Reserve Fund created under provisions of the Banking Regulation Act, 1949? A. 5 per cent B. 10 per cent C. 15 per cent D. 20 per cent

ANS. D

BACKGROUND:

In terms of section 17 (1) and 11 (1)(B. (ii) of the Banking Regulation Act, 1949 banks are required to transfer, out of the balance of profit as disclosed in the profit and loss account, a sum equivalent to not less than 20 per cent of such profit to Reserve Fund. This provision is a minimum requirement. Considering the imperative need for augmenting the reserves, it was advised vide circular DBOD.No.BP.BC.24/21.04.018/ 2000-2001 dated September 23, 2000 that all scheduled commercial banks operating in India (including foreign banks) should transfer not less than 25 per cent of the ‘net profit’ (before appropriations) to the Reserve Fund with effect from the year ending 31 March 2001. 2. In terms of Sec 17(2), where a banking company appropriates any sum or sums from the reserve fund or the share premium account, it shall, within twenty-one days from the date of such appropriation, report the fact to the Reserve Bank explaining the circumstances relating to such appropriation. In order to ensure that their recourse to drawing down the Statutory Reserve is done prudently and is not in violation of any of the regulatory prescriptions, banks are advised in their own interest to take prior approval from the Reserve Bank before any appropriation is made from the statutory reserve or any other reserves.

31. Which of the following economies of the world have been declared world’s most expensive economies in a ranking released by the World Bank recently? A. UK, Japan B. Bermuda, Denmark C. US, Australia D. Switzerland, Norway

ANS. D

BACKGROUND:

Top Five: Switzerland, Norway, Bermuda, Australia and Denmark. The cheapest economies were Egypt, Pakistan, Myanmar, Ethiopia and Lao People’s Democratic Republic

32. Which of the following car models selling in India became the second car to cross 25 lakh unit sales mark in domestic market after the iconic Maruti 800? A. Wagon R B. Santro C. Indica D. Alto

ANS. D

BACKGROUND:

The country’s largest carmaker Maruti Suzuki India on Tuesday said its compact car Alto has become the second model from the company’s portfolio to cross the 25 lakh unit sales mark in the domestic market. The Alto has entered the 25 lakh club, where the only other car is the Maruti 800, Maruti Suzuki India (MSI) said in a statement. “Launched in 2000, the Alto has attained the 25 lakh milestone in less than 14 years, the fastest by any brand; we are overwhelmed and humbled by its popularity,” MSI vice-president (Marketing) Manohar Bhat said. “Within 124 days of its launch, the new Alto 800 attained the milestone of selling 100,000 units,” the company said.

33. The world’s highest tunnel for high-speed trains became operational at an altitude of 3,607.4 metres in which of the following countries recently? A. Switzerland B. China C. Germany D. France

ANS. B

BACKGROUND:

The world’s highest tunnel for high-speed train in northwest China at an altitude of 3607.4 metres became operational. The 16.3 km long tunnel links Gansu province and Xinjiang provinces. The tunnel passes through the Qilian Mountains with two sections and bridge. The construction of the highest tunnel started in 2009. This rail line through the tunnel has solved the most difficult part of the Lanxin high-speed railway.  The 1776 km high-speed railway links Lanzhou, capital of Gansu, with Urumqi, capital of Xinjiang and runs across Gansu and Qinghai provinces to Xinjiang, traversing the Gobi Desert.

34. The expert committee headed by former Axis Bank Chairman PJ Nayak submitted its report to the RBI recently. The Committee was constituted to review ______in Jan 2014. A. the governance of boards of banks in India B. the capital requirement of PSBs in India C. the foreign share holdings in private banks in India D. the proposal to increase the number of Deputy Governors at RBI from four to five

ANS. A

BACKGROUND:

A panel appointed by the Reserve Bank of India (RBI), on Tuesday, 13 May 2014, proposed that the government should cut its stakes in state banks to below 50% and establish fully empowered bank boards. The panel has also recommended that government investment in PSU banks be transferred to a bank investment company. The committee, headed by former chairman and chief executive of Axis Bank P.J. Nayak, further suggested that the PSU banks should be brought under the ambit of the companies act. In January 2014, RBI governor Raghuram Rajan had constituted an expert committee to review governance of boards of banks in India under the chairmanship of P J Nayak. RBI has invited comments on the report. After taking into account views from all constituents, the central bank will make its recommendations to the government. According to the report, the financial position of PSU banks is fragile and is masked by regulatory forbearance which only delays recognition of this fragility. It is desirable for the government to level the playing field for public sector banks in relation to their private sector competitors. Reducing the proposed Bank Investment Company’s investment in a bank to less than 50% will free the bank from external vigilance emanating from the Central Vigilance Commission, from the Right to Information Act, and from government constraints on employee compensation, the report said. The panel also wants the finance ministry to stop providing regulatory directions to PSU banks and make RBI the sole regulator.

35. Who among the following is the author of the book titled ‘An Undocumented Wonder’: The Making of the Great Indian Election’? A. Anirudh Bhattacharyya B. Narendra Jadhav C. Arunava Sinha D. SY Quraishi

ANS. D

BACKGROUND:

The great Indian election continues to generate global interest and wonder, partly on account of its uninterrupted success and partly because of the obvious challenges of demography, geography, and the mind boggling diversities. How are these elections conducted? What were the challenges faced by the Election Commission of India? How did it overcome these challenges? What are the ideals and principles that drive the people involved in completing this mammoth task? An Undocumented Wonder: The Making of the Great Indian Election answers these and many more questions about what has been termed often as the ‘great dance of democracy’. The book avoids the ‘kiss and tell’ track, nor does it seek to entice readers with any ‘spill the beans’ approach Instead, the attempt is to serve and satisfy the readers’ genuine curiosity through a first person account of the recent electoral history and the challenges encountered. Along with highly informative and exciting inside stories of Indian elections, the author shares his experiences and knowledge from the time when he served as the Chief Election Commissioner of India.

36. Delhi University’s professor GN Saibaba, a vociferous opponent of Operation Greenhunt, was arrested recently. Operation Greenhunt is associated with which of the following? A. Hunt for minerals in forest areas B. Counter-insurgency operations against the Maoists C. Displacing tribal population from national reserves D. A deforestation drive to increase cultivable land acreage

ANS. B

37. Who among the following has won the CCI Billiards title? A. Dhruv Sitwala B. Pankaj Advani C. Devendra Joshi D. Vijay Ratnakar

ANS. B

BACKGROUND:

Pankaj Advani on 14 May 2014 won Cricket Club of India (CCI) Classic Billiards and Snooker tournament. He defeated two-time world runner-up Dhruv Sitwala 1425-447 in the final. The Bangalore-based Eight-time world champion Pankaj Advani also won the Highest Break award for the 530, which he scored against Devendra Joshi in the quarterfinals

About Pankaj Advani

Pankaj Advani is an 8-time World Champion. He won his first world title when he was just 18. He is the only Asian to have ever won both the Billiards and Snooker World Championships. Pankaj Advani is one of the youngest Indians to be honoured with the Rajiv Gandhi Khel Ratna award. He has also been conferred with the Arjuna and Padmashree awards.

38. Who among the following has featured on the cover page of magazine Forbes Middle East? A. Shah Rukh Khan B. Arvind Kejariwal C. Amitabh Bacchan D. Narendra Modi

ANS. A

BACKGROUND:

Bollywood actor Shah Rukh Khan graces the cover of Forbes Middle East which lists the Top Indians in Arab World. The prestigious business magazine roped in SRK as the first Indian celebrity for the cover page along with a special feature story about his contribution to the entertainment industry and as an entrepreneur.

39. Nitish Kumar resigned as Bihar Chief Minister by tendering his resignation to: A. The Governor of Bihar B. The Speaker of Rajya Sabha C. The Chief Justice of Bihar High Court D. The Party President

ANS. A

BACKGROUND:

Nitish Kumar, the Chief Minister of Bihar resigned from his office on 17 May 2014. He tendered his resignation to the Governor of Bihar Dnyandeo Yashwantrao Patil after his party Janata Dal United was able to win only two seats of the 40 in the 16th Lok Sabha elections.

40. Founder of Leela Group of Hotels Mr. ____________ died recently.

ANS. Krishnan Nair

BACKGROUND:

Capitan Krishnan Nair, founder of Leela Group of Hotels died on 17 May 2014 in Mumbai. He died at the age of 91. He received the Padma Bhushan award in 2010.

About Krishnan Nair

• Nair was a war veteran was born in Kannur district of Kerala in 1922.

• Nair joined the freedom movement at the age of 13 and joined Indian Army in Bangalore. Later he joined as wireless officer in Abbottabad and he rose to the rank of a captain in the Maratha Light Infantry.

• He founded the Leela Hotel in Mumbai in 1987. He expanded the Leela Palaces, Hotels and Resorts in a span of 25 years to eight luxury properties in New Delhi, Mumbai, Bangalore, Gurgaon, Udaipur, Goa, Chennai and Kovalam.

• The American Academy of Hospitality Sciences (AAHS) awarded him the Lifetime Achievement Award.

• The United Nations Environment Programme (UNEP) awarded him the Global 500 Roll of Honour award in 1999.